Blockchain changes existing business 10 example?

This paper introduces the main usage scenarios of blockchain at present 10:

(1) Tracking products in the global supply chain;

It is a typical use scenario of blockchain technology in security traceability, which can promote information tracking, inquiry, verification and anti-counterfeiting of commodity circulation, and can significantly improve the efficiency of some links. However, the role of blockchain can only be reflected in the chain, but it cannot cover the part operated by people under the chain.

(2) Ensure the quality of 3D printing and track it;

(3) Create personalized and lifelong "one-stop" medical records;

Blockchain medical care can track anyone's complete medical history, such as drugs, diseases, injuries and transactions with cross-medical systems, doctors, pharmacies and medical plans, and enable patients to control their own data. Blockchain can also transfer insurance payments: when clinics confirm that patients have received treatment and prevent fraudulent or inaccurate claims, smart contracts can automatically trigger insurance clauses. Some start-up companies, such as Medicalchain, Gem, MIT and other enterprises and universities in the UK, are trying this use.

(4) Simplifying trade logistics;

Traditional trade involves complicated import and export procedures, and all participants in the whole chain need a large number of paper documents to interact, which leads to high communication costs. Blockchain can optimize this system. Maersk and IBM created a platform to integrate services such as liner, warehouse, freight forwarder, port, customs, exporter, importer and trade finance bank into the trade ecosystem, and interoperate on the data exchange platform running on the blockchain.

(5) Facilitating and safeguarding customs trade;

Blockchain has been tested in many customs departments, including Britain, South Korea, Singapore, Costa Rica, Mexico, Peru and East Africa 15 Group. In 20 17, US Customs developed 14 use cases for blockchain, which are currently being tested and evaluated. Blockchain is particularly useful for the UK: when the UK leaves the EU Customs Union, the number of customs declarations will increase from 55 million to more than 250 million (non-EU trade plus EU trade, customs documents were not needed before), which cannot be fully handled by the current British software program. Blockchain can help: it can track the source of products and help determine the origin of goods and appropriate tariffs, such as a package of tariffs destined to join the European Union. For the 28 border agencies in the UK, it is necessary to analyze the compliance of imported products, such as food, safety and intellectual property rights, and enjoy blockchain projects in a safe and transparent manner.

(6) prevent voting fraud and protect the identity of voters;

Blockchain security and identity protection can reduce fraud and encourage voters to believe that their votes are anonymous.

Increase the turnout rate and make the election immediate. Through this technology, voters can scan their thumbs with their smartphones and then vote on their way to work on election day. If everyone votes through the blockchain, no one can vote twice. Voting records are inviolable, and each polling place will record the ID of each ballot immediately.

(7) Start crop insurance for farmers;

Crop insurance customized according to specific farmers' needs is usually very expensive, and blockchain technology can reduce costs by determining trigger conditions and automatically implementing them. For example, farmers can insure against extreme weather. If extreme weather affects the harvest, the blockchain insurance contract will immediately confirm this and pay the farmers' claims.

Establishing a network of energy producers and users;

A few decades ago, some companies introduced smart grids to provide intermediary services for energy producers and demanders. Now, the blockchain can optimize the smart grid and provide a regional intermediary energy trading platform for energy producers and consumers. TenneT and Brooklyn startup LO3 Energy are both trying this business.

(9) Building a smart city that can operate independently;

Blockchain can now amplify the impact of the Internet of Things on urban operation. For example, Dubai has a pilot project to implement blockchain in urban services. Dubai plans to use blockchain in more than 6,543.8 billion annual government documents by 2020, including all visa applications, bill payment and license renewal.

(10) automatically pay the exporter when the goods arrive at the foreign buyer;

Blockchain has changed the problem of information asymmetry in existing international trade by allowing both parties to access the same data and real-time digital files. There is no need to store multiple copies of the same document across different databases of different entities. When the goods marked by the sensor connected to the smart contract arrive, it will automatically trigger the buyer to remit money to the seller.

2. The top ten problems that the blockchain industry is currently facing and their analysis.

2. 1. Is the data on the blockchain really tamper-proof?

Can one of the core features of blockchain "tamper-proof" really be realized? And is "tamper-proof" really beneficial and harmless?

The report pointed out that the blockchain is not completely static and gave three weaknesses of the blockchain:

(2) It may be hacked, and the 5 1% chain is controlled by people who want to tamper with the results.

(3) The problem of "garbage in garbage" has existed for centuries. The value of blockchain depends on the data on the chain, and the data input into blockchain may be inaccurate or fraudulent. One solution is to use sensors instead of manually entering data.

The so-called "5 1% attack" is to use the advantage of computing power to cancel the payment transaction that has already occurred. If someone has more than 50% computing power, he can find the random number needed for mining blocks faster than others, so he actually has the absolute right to decide which block. Technically, it can achieve 5 1% attack, but the cost is very high for the earliest cryptocurrencies such as BTC, and they have established a huge network, which is why BTC's network has remained stable for 10 years. But for other counterfeit money, the risk is greater.

In addition, the attacker simply launched a 5 1% attack, which has no direct income and must be linked to specific short selling and false recharge. Specifically, it is often a double cost of a transaction. The attacker stopped attacking once. Continued attacks have a price, and once they are successful, they will stop attacking; Second, the community can issue emergency puddings and increase checkpoints in the blockchain. The community urgently agreed that the attacker's blockchain was invalid. Therefore, there are many ways to deal with the 5 1% attack, and it will not be the end of the world for a blockchain.

2.2. Who owns and maintains the blockchain? Who asked about the appearance?

Responsible for problems and losses?

Since the blockchain is a scattered user group, who will maintain it? Shouldn't it need people to adjust and maintain it like a website?

For authorization chains, such as alliance chains and private chains, there is no need for incentives such as tokens to motivate people to manage, and there is a manager to manage the whole network. Because there are fewer users in the network, the coordination cost is relatively low. However, such a network is vulnerable to security challenges, and with the increase of the number of network users, the coordination cost will also increase.

For alliance chain and private chain, because they are still a very centralized organization, the nodes of verification are determined by the organization itself, so the management mode is not very different from the traditional centralized organization. But for the public chain, there is no leader to co-ordinate the whole network system, and different interest groups are coordinated only by the incentives of tokens, which undoubtedly increases the instability of the whole ecology. At present, the development of blockchain industry is in a very primary stage. In addition to the decentralized governance of BTC, the founder development team plays a very core role in the governance of public chains such as ETH and EOS, and is the "rulemaker" of public chains. Although the whole ecology has been partially decentralized, the founder still plays an important role in the strategic development direction. Therefore, the author believes that the decentralization of blockchain can only be an approaching ultimate goal. From the birth to the maturity of the project, the degree of decentralization should be continuously enhanced, as shown in the following figure. In the early stage of project development, the founder and his development team played an absolute guiding role in the whole ecology. With the maturity of the project ecology and the increase of the number of participants, the original development team should gradually dilute its guiding role. The maintenance of the whole network needs the joint decision of all developers and users in the ecology. But in the end, the problems in the network can only be borne by all participants.

Schematic diagram of the relationship between project concentration and development stage of block chain in drawing area

2.3. Is the smart contract really smart?

The second reason why smart contracts are not so smart is that their entries may be manipulated by evildoers, such as contractors or miners who add transaction records to the past transaction records of blockchain. A study shows that 3.4% ETH smart contracts are vulnerable to hackers.

Smart contracts can indeed optimize many intermediate programs, but as far as the current industrial practice is concerned, it is far from smart. A qualified smart contract should include all possible situations. Because the core essence of smart contract is "to make the fairest decision even in the darkest environment".

The difference between Ethereum and Bitcoin is that Ethereum is Turing-complete, and more kinds of contracts with more complicated terms can be realized through this platform. Of course, the price of this is that the complicated contract content increases the difficulty of analysis. Usually, the complexity is directly proportional to the probability of vulnerability; The higher the complexity, the greater the probability of vulnerability.

With regard to the viewpoint that "code is law" put forward by Yitefang, however, due to its own loopholes, the code is not enough to form the authority of "law", so compared with the traditional need for government trust endorsement, lawyers, courts and other intermediary agencies to coordinate, the current contract is still too rough.

2.4. Is there identity theft in the blockchain?

3% of social media accounts are fake, so can you create fake accounts on the blockchain? Will the identity on the blockchain be stolen?

Blockchain can create a personal database for users whose data cannot be tampered with, but how to meet the needs of users for "tampering"? This may be a paradox in the development of blockchain technology. For the needs of users, it may be necessary to start from the perspective of uplink standards and rights management.

2.5. Can blockchains be connected to each other?

One blockchain records the data of an entity or user in one way, while another blockchain records the same data of the same entity or user in another way. In a fragmented system, multiple account books are not connected with each other, which will form an "island of operation" world, or "island of data". Users need to register multiple systems at the same time and conduct transactions with different people for different purposes.

According to the value transfer requirements of different chains, cross-chain technology is the key, which can effectively connect different alliance chains or private chains and promote the outward expansion and connection of blockchain. At present, the mainstream cross-chain technologies include notarization scheme, side chain/relay, hash lock, distributed private key control and so on.

2.6. How does the blockchain connect with the offline database?

If one party's data and documents are under the chain and the other party's data and documents are on the chain, can the two parties interact? In the company's database, can half of the company's data on the blockchain interact with the other half?

These challenges are well known and are being solved. For example, you can run the same query and analysis in both on-chain and off-chain databases. The risk is that data from blockchain to offline is no longer tamper-proof. Researchers recognize that data security and the collection, transformation and optimization of online and offline data sets are the main challenges.

2.7. Will the blockchain facilitate money laundering?

Money laundering is a huge global problem, amounting to 1-2 trillion US dollars, accounting for 2%-5% of global GDP. Banks and related departments are fighting back, spending about $8 billion a year to fight corruption. Banks all over the world need to do KYC verification.

Due to the anonymity of blockchain, especially the appearance of anonymous coins, BTC has been criticized by many people as a tool for money laundering. However, the anonymity of BTC is only the anonymity of the chain. The interaction between people and the chain, BTC and legal tender will leave traces, and it is not as "lawless" as advertised by many media. Every transaction of BTC needs to be transferred to the corresponding address, and the transaction records of this address can be queried. In addition, the exchange between BTC and legal tender is carried out under the chain, and it still cannot escape supervision. If the true identity of any party in a transaction is exposed, it is difficult for all participants in this transaction to escape recourse.

2.8. Will the blockchain consume all the energy in the world?

BTC has an amazing energy demand, and it takes a year to operate Bitcoin. Because BTC's power knowledge mechanism requires miners to mine transaction verification. Some people worry that with the increase of network and BTC value, energy demand will increase rapidly. In fact, miners themselves have the motivation to prevent this from happening, and the scalability of blockchain is limited by availability, energy costs and miners' own financial resources. At present, the alternative is the POS*** authentication mechanism, which selects the verifier according to the amount of money held by the holder.

In fact, it can be seen that except for a batch of cryptocurrencies headed by BTC in the early days, most blockchain projects have taken into account the disadvantages of POW and are constantly innovating knowledge mechanisms to avoid excessive energy consumption. Therefore, the blockchain is not enough to cause such huge energy consumption.

2.9. Will the blockchain take away our jobs?

For blockchain, if people can directly trade with each other, what impact does blockchain have on intermediaries such as banks and lawyers? Blockchain is unlikely to become an employment killer. Like any technology, it will change the nature of work by changing the company's business and income model.

When artificial intelligence is on fire, people will keep asking such questions. On the one hand, we enjoy the convenience brought by technology, on the other hand, we are worried that technology will replace us. The biggest challenge of blockchain is not the technology itself, but changing the traditional benefit distribution model. Blockchain technology can remove some intermediary links, break the monopoly of centralized institutions on many resources, and then change the interest pattern, which is also the most revolutionary point of blockchain.

2. 10. Is the United States lagging behind the development of blockchain industry?

From a global perspective, the blockchain industry in the United States is still in its infancy. In 20 18, Deloitte surveyed 1053 executives in financial services, medical care, science and technology, telecommunications, manufacturing and other industries. Only 14% of American respondents believe that blockchain is used in their production, compared with China. Plans are also lagging behind: 465,438+0% of American companies plan to invest $6,543,800+0 million or more in blockchain, 85% in China, 74% in Canada, 72% in the UK and 65% in Mexico.

According to the "White Paper on the Development of Blockchain between China and the United States" released by Silicon Valley Insight, in terms of the number of ICOs, North America is comparable to Asia, and in terms of financing amount, North America is far ahead with 7.85 billion. Therefore, the United States, as a big country in North America, is not backward at all. On the contrary, it is still in a leading position in many aspects.

Using Blockchain to Promote American Commerce and Prosperity

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Introduction to Sky Song: LD Research was founded on July 2, 20 18. It is a research institution dedicated to exploring the unknown fields of science and technology, with human development as the driving force and "basic research to solve practical problems" as its purpose.

This article is from Babbitt.

Related questions and answers: What are the uses of blockchain technology in the commercial field? What are the uses of blockchain technology in the commercial field?

In recent years, due to the popularity of virtual digital currency, blockchain as its underlying technology has also begun to attract widespread attention. Blockchain has the characteristics of decentralization, distrust, collective maintenance and reliable storage, and has been widely used in the field of virtual currency.

Since the birth of Bitcoin, there have been more than 600 kinds of/kloc-0 virtual currencies around the world, forming a huge industrial chain ecology around the generation, storage and trading of virtual currencies. But on the whole, the industry is still in its infancy, and there is still a long way to go from the real value use area. The core of blockchain economy lies in the reconstruction of business logic and organizational form, so it needs to obtain examples applied in many industries to show its value. This paper will discuss the business model of blockchain in various industries from the perspective of combining blockchain with industry demand.

First of all, the core of blockchain is to solve the credit problem:

Credit is the foundation of all business activities and finance. The United States began to implement trusted identification from 20 1 1, while China realized supervised information dissemination through real-name registration system. The significance of blockchain lies in the establishment of decentralized trust from the technical level for the first time and the realization of a completely distributed credit system.

Secondly, the blockchain solves the problem of value exchange:

Traditional network can realize point-to-point transmission of information, but it can't realize point-to-point transmission of value. Because information is allowed to be copied, and the value must be true and unique, it is necessary to rely on a centralized organization to realize the value transfer. Blockchain perfectly solves this problem and provides a method to realize point-to-point value transfer. In the process of value transfer, accounting is realized through the network without relying on a centralized institution. Therefore, the blockchain is expected to become the infrastructure for building a new type of finance and the cornerstone of the future value Internet.

Use of blockchain

At present, there are two main modes of blockchain use:

1) Original blockchain uses: directly based on decentralized blockchain technology to realize value transfer and transaction, such as digital currency;

2) "Blockchain+"mode: the combination of traditional scenarios and blockchain underlying protocols improves efficiency and reduces costs. It is expected that the use of blockchain in various industries will be dominated by the second model.

Blockchain has five core attributes, namely: transaction attribute (value attribute), deposit attribute, trust attribute, intelligence attribute and traceability attribute. Combining the above core attributes with industry needs to solve industry pain points has become a business model used by blockchain in various industries.

Blockchain+Bank

1, cross-border payment

Cross-border payment is a pain point that has long plagued the banking industry. Traditional cross-border payment methods include two types: one is online payment, including electronic account payment and international credit card payment, which is suitable for retail small amounts; The second is the bank remittance model, which is suitable for large transactions; Both of them have the problems of long receipt period, high cost and low transaction transparency. Especially in recent years, with the rise of cross-border electronic commerce, convenient, fast, safe and low-cost cross-border payment has become an urgent demand of the industry.

The role of blockchain:

Blockchain has the characteristics of disintermediation and open and transparent transactions. Without the participation of third-party payment institutions, the payment cycle is shortened, the cost is reduced, and the transparency of the transaction is increased. For example, 20 17 and 12 China Merchants Bank, together with Wing Lung Bank and Wing Lung Shenzhen Stock Exchange, successfully realized three-way cross-border RMB remittance by using blockchain technology. Its liquidation process is safe, efficient and fast, which greatly improves the customer experience.

2. Supply chain finance

The pain point in this field lies in the long financing cycle and high cost. Around the core enterprise system of supply chain, it is difficult for third-party credit enhancement agencies to identify the authenticity of various related documents in supply chain, which leads to long manual audit time and high financing cost.

The role of blockchain:

Blockchain introduces * * * knowledge mechanism, proof of existence, non-tampering, traceability and other characteristics. Integrate into supply chain finance, and do not need a third-party credit enhancement agency to verify the authenticity of various related documents in the supply chain, thus reducing financing costs and shortening financing cycles. For example, from 2065438 to April 2007, the listed company Jianyi Co., Ltd. and IBM China Research Institute jointly released the blockchain supply chain financial service system "Jianyi Block", which mainly promoted medical scenarios. At present, more than 30 pharmaceutical circulation enterprises have been successfully registered in "Jianyi Block". By the end of July, the number of transactions had approached 8,000, with a total investment exceeding 1 100 million yuan.

3. Digital bill

The pain point of the digital bill industry lies in the long-standing problems such as "fake bills" and "selling more with one ticket", which brings risks to the bill financing business of the banking industry.

The role of blockchain:

The existence proof and tamper-proof characteristics of blockchain effectively solve the problem of false digital bills; At the same time, the blockchain solves the problem of "double flowers" and can avoid "one vote and more sales". For example, Shenzhen Blockchain Financial Services Co., Ltd. issues ticket chain products and provides bill financing services based on blockchain to solve the bill financing needs of small and medium-sized enterprises. Cooperative banks include Ganzhou Bank, Guiyang Bank, Suzhou Bank, Shizuishan Bank, Langfang Bank, Wuhai Bank, Jilin Jiutai Rural Commercial Bank, Du Yao Rural Commercial Bank, Shennong Industrial Bank, Weifang Bank and Zhongyuan Bank. In addition, Zheshang Bank, JD Finance, Hang Seng Electronics and HNA are also verifying the blockchain digital billing service.

Blockchain+Securities

1, asset securitization

Asset securitization is to obtain current financing with future income as guarantee. The pain points in this field are: many participants, many operational links, low transaction transparency, asymmetric information, and the authenticity of the underlying assets cannot be guaranteed.

The role of blockchain:

Blockchain has introduced the attributes of existence proof, non-tampering and * * * knowledge mechanism for asset securitization, which can monitor the real situation of assets in real time and solve the trust problem of institutions in the transaction chain on the underlying assets. Various assets, such as equity, bonds, bills, income vouchers, warehouse receipts, etc. It can be integrated into the blockchain and become a digital asset in the chain, improving the efficiency of asset circulation and reducing costs. For example, from 2065438 to May 2007, Baidu Finance, Baiqian Leasing, Huaneng Trust and other partners jointly issued an asset securitization ABS project supported by blockchain technology, with a scale of 424 million yuan.

Blockchain+insurance

1, insurance business

There are some problems in the insurance industry, such as information asymmetry and lack of trust between customers and insurance institutions. It is difficult for users to choose insurance products that suit them, and insurance institutions face the risk of fraudulent insurance.

The role of blockchain:

The blockchain is decentralized, open, transparent and traceable, which has established a good communication channel between insurance institutions and users; The information of the subject matter of insurance is managed in a unified way in the blockchain and cannot be tampered with, helping insurance institutions to avoid the risk of fraudulent insurance; At the same time, smart contracts can improve work efficiency and reduce costs. For example, AXA, a French insurance giant, is using the public blockchain of Ethereum to provide automatic flight delay compensation for air passengers. If the flight is delayed for more than 2 hours, the "smart contract" insurance product will automatically compensate the passengers.

2. Credit adjustment

The pain point in this field lies in the limited data collection channels and insufficient data sharing of credit reporting institutions, which makes it difficult to accurately describe the credit status of individuals or institutions; In addition, there is the problem of how to protect users' privacy during data collection.

The role of blockchain:

Blockchain has the characteristics of no trust, * * * knowledge and no tampering. On the basis of effectively protecting users' privacy, it technically ensures that limited and controllable credit data can be enjoyed and verified. For example, China Ping An's blockchain credit information service has been put into operation. In addition, domestic startups such as Shanghai Moment, LinkEye and Bubi Blockchain are also exploring joint credit reporting and certificate security deposit.

As a basic technology, blockchain has great use value in many industries such as distributed processing, peer-to-peer transactions and rapid establishment of trust relations. Its core is to solve the credit problem and realize the point-to-point transmission of value. Therefore, it is considered as the cornerstone of the future value Internet.

The core of the blockchain business model is to use the innovative attributes introduced by the blockchain to combine with the use of traditional industries to realize the reconstruction of business logic, thus creating new usage scenarios, or improving efficiency and reducing costs.

It is expected that the use of blockchain will start from the pan-financial field with high requirements for credit, efficiency and safety: the financial industry pays more attention to efficiency and safety, and the blockchain has a high degree of matching with its pain points, which can systematically solve the trust problems, efficiency problems and default risks in all aspects of financial services; Blockchain's attributes such as "transaction, deposit and traceability" are more likely to generate value in the financial industry. At the same time, the financial industry has a huge market space, and small progress can also bring huge benefits.

Blockchain will also extend to all fields of social life: blockchain solves the problems of management, transaction and transfer of digital assets, so it will play an important role in the wave of asset digitization, such as supply chain management, data services, asset management, public services, Internet of Things, etc., and "blockchain+"is becoming a reality.