What can blockchain do? Blockchain, a great technology that accompanied the birth of Bitcoin, is currently being used in the financial field to significantly reduce transaction costs and improve efficiency, which is enough to excite Wall Street. However, this is just the tip of the iceberg. Its potential applications are very broad and will subvert every aspect of our lives in the future.
Blockchain is an important concept of Bitcoin. It is essentially a decentralized database and serves as the underlying technology of Bitcoin. One of the most basic characteristics of Bitcoin is decentralization. In recent months, financial giants have gradually begun to pay attention to this technology of Bitcoin and have used this technology in non-monetary fields, such as stock trading, election voting, etc. (1) Art Industry
Artists can use blockchain technology to declare ownership and issue numberable, limited-edition works in digital form for any type of artwork. It even includes a marketplace where artists can buy and sell through their website without the need for any intermediary services.
(2), Real Estate Industry
Use blockchain technology to solve various problems faced by everyone involved in real estate, including the naming process, land registration, agency intermediaries, etc.
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(3), Insurance Industry
The financial industry has always been the most sensitive to advanced technology. Traditional banking and securities industry giants have been involved in the booming blockchain venture capital investment since 2014, with total global investment reaching US$1 billion within two years.
(4), P2P wallet
In the future, personal assets can be traded through this P2P wallet without going through any central institution, such as Bitcoin.
Most blockchains are in their infancy, mainly overseas. There are very few good domestic blockchain projects, so it is not recommended for any non-professionals to invest in blockchain projects. If you are very interested in blockchain technology and have a technical or financial background, it is recommended that you consider starting a business in this area. In terms of the blockchain protocol system, the lowest layer is the underlying technology of the blockchain, including the technical protocols of the blockchain, as well as some platform routing and basic algorithms; in the middle layer, some application interfaces and some credentials must be solved Issuance and verification, including some industry platform services, big data analysis, etc. This is a very rough classification, and there should be more detailed classifications; the top ones are some applications of blockchain, including finance Some applications and some applications in other aspects, the Internet of Things and so on.
Introduction to Bubi Blockchain
Bubi Blockchain has been focusing on the R&D and innovation of blockchain technology and products since its establishment. It has a number of core technologies and is in Substantial innovations have been achieved in many aspects and a number of core technical achievements have been formed, such as: mathematically provable distributed ledger technology, fast large-scale ledger access technology, multi-chain general ledger technology that supports business expansion, Interconnection technology between heterogeneous blockchains, etc. On April 25, "Gege Points" introduced the concept of blockchain into the points system, jointly opened it up with multiple parties, issued and exchanged points, and promoted the circulation of points. Each cooperative institution can participate in transaction verification, ledger storage, and real-time settlement at the same time; the third-party payment platform of the enterprise points issuer makes the entry and exit of points more flexible. Bubi has developed its own basic blockchain service platform, which has been applied in equity, supply chain, points, credit and other fields. Bubi has been committed to building an open value circulation network with decentralized trust as the core, allowing digital assets to flow freely.
A simple understanding of blockchain is a technology at the bottom of Bitcoin, which is a peer-to-peer electronic cash system that can realize peer-to-peer value delivery. We should distinguish between Bitcoin, Bitcoin blockchain, and blockchain. concepts such as chain and blockchain technology. In countries with relatively developed finance in the past, finance and blockchain technology have a long history, and the legislation of digital currencies and blockchain networks is also very important.
With the advent of the financial era, large financial institutions are studying blockchain technology. They have their own teams and conceptual technologies. Slowly, banks in various regions are also participating in digital currency discussions. The application and support of this technology are not only that. The influence of blockchain on enterprises is also huge. For larger domestic enterprises, Bubi Blockchain is also used in various equity, supply chain, points and other fields. Major domestic financial institutions and enterprises have taken a fancy to the new industry. value, they have developed their own blockchain platforms, and blockchain has instantly become a new innovative industry in China. In terms of overseas internationalization, the United States has already obtained 15 blockchain patents at the end of last year compared to China. Blockchain financial applications are entering a new stage in an all-round way. Various applications will become more and more in-depth, and related changes will also become more and more profound. It will attract more and more attention and will form a huge new trend.
Financial institutions have introduced blockchain technology into a new era of Internet and big data applications. It has laid the foundation for a pattern of negative interest rate profits driving innovation to technological innovation. At this time, domestic giants have joined hands to propose cooperative alliances, which not only affects the financial foundation Implementation is an important means to expand business cooperation. In terms of implementation, future payment systems, securities deposits, settlement systems and big data analysis are inseparable. Domestic giants have joined hands to propose a mutually beneficial cooperation model. Not only Effectively improve operating efficiency, reduce costs, and find new growth points. Under the general idea, whether it is a traditional enterprise or a large financial institution, after adopting blockchain technology, can the company's products and services generate a new business model or a long-term future? Lower cost advantage than competitors.
What can blockchain do? Blockchain problem? Although there is no mature underlying blockchain technology platform solution currently, technical problems such as capacity scalability, privacy protection, inability to settle on a net basis, and non-recourse after the event also need to be solved, and large-scale application of blockchain Technology also requires redesigning IT architecture and reengineering business processes, but these are only technical issues. The real test of blockchain technology taking root and growing in the financial field is the ontology of regulatory agencies and financial institutions. Will the inherent "deregulation" and "decentralization" characteristics of blockchain make market entities have no motivation to drive technology? Innovation. However, since blockchain is a technology based on mathematical algorithms, the establishment of a trust relationship between transaction parties does not require the use of intermediaries or authoritative centers at all, and the cost of establishing a trust relationship is almost zero (when the blockchain financial infrastructure and ancillary infrastructure are established (under the premise), and the blockchain code is open source and open, without geographical restrictions, and the network pattern is distributed and interconnected, laying a technical foundation for the establishment and development of inclusive finance and exclusive finance in the future, and creating a unified environment for global financial integration. material conditions. From this point of view alone, blockchain technology will surely establish a core position in future financial development, rely on and complement each other with finance, and win the future.