What is the financial prospect of blockchain?

Finance is the most widely used field of blockchain.

According to statistics of CCID Blockchain Research Institute, in 20 19, there were 328 blockchain application projects in China, including 96 financial blockchain application projects, accounting for 29%. In the same period, it accounted for the highest proportion of the projects applied for landing, increasing by 4 1% compared with 20 18.

Looking back at China, the blockchain in 20 19 began to stand at the forefront of policy. According to statistics, in 20 19, the state and ministries issued 2 1 policies on blockchain. From the perspective of national policies, the financial sector is still the key area of blockchain technology, and trade and industrial Internet have also become new hot spots in the application of blockchain technology.

At present, the financial industry faces many problems such as long cross-border payment cycle, high cost, low settlement efficiency, high risk control cost and big data security risks.

The blockchain and the financial industry are highly compatible.

Because the financial industry itself has a high cost of confirming the authenticity of information, and there is also a demand for large-scale knowledge, the industry naturally contains a large amount of raw data, and a large number of participants can form a network effect, so the blockchain has a high degree of fit with the financial industry. The emergence of blockchain has made it possible for many traditional Internet scenarios that are difficult to integrate online because of trust granularity or trust cost.

Specifically, the value of blockchain in the financial field is reflected in the following aspects:

There are 72 financial service companies in the blockchain.

According to the Record of Domestic Blockchain Information Services of the National Internet Information Office, by the end of 20 19, there were about 420 companies providing blockchain information services in China, accounting for 506 services. Among them, 72 enterprises provide financial services based on blockchain, accounting for 17%, and * * * registered financial services 120.

Supply chain finance is the most explored field.

In terms of sub-industries, blockchain technology has specific projects in sub-industries such as supply chain finance, trade finance, payment and settlement, and fund management, especially in supply chain finance, cross-border payment and settlement, and trade finance. The number of landing projects is 34, 15 and 13 respectively.

The banking industry actively deployed blockchain.

In recent years, the application cases of blockchain finance have been increasing, covering banks, securities, trusts, credit reporting, insurance and other fields. Banks are the most active institutions in the layout of blockchain finance. According to the statistics of the Zero One think tank, from 20 16 to 20 19, the number of blockchain patents applied by the banking industry increased from 1 1 to 433, an increase of nearly 39 times. Specifically, in 20 16, only China Bank and Weizhong Bank applied for blockchain patents, with 7 patents and 4 patents respectively. From 20 17 to 20 19, the total number of patent applications was 43, 95 and 284 respectively.

Note: The statistical time of 20 19 ends at 65438+February 1.

As of 20 19, 12, 1, 15 banks in China have applied for patents related to blockchain. The top three banks are Weizhong Bank, Industrial and Commercial Bank of China and China Bank, among which Weizhong Bank applied for 288 patents, accounting for 66.5% of all patents. According to statistics, in 20 19, the banking industry applied for 284 blockchain patents and 9 banks applied for blockchain-related patents. Among them, Weizhong Bank ranked first with 229 patents, accounting for 81%of the total number of new patents in 20 19; ICBC ranked second, with 35 applications for 20 19, accounting for12% of the total; The patent applications of the other seven banks are all below 10.

ICBC has the most landing scenes.

The banking industry has also actively taken advantage of technological advantages and deployed blockchain projects one after another. From the central bank, large joint-stock commercial banks to city commercial banks, most banking institutions have deployed blockchain applications one after another. Its application scenarios cover supply chain finance, trade finance, housing leasing, public welfare poverty alleviation, cross-border payment, digital bills and so on. Among them, ICBC landed in 8 scenarios, ranking first. According to the incomplete statistics of the Financial Application Working Group of Trusted Blockchain Promotion Plan, the application fields involved are as follows:

Blockchain technology helps to promote the internationalization of RMB.

There are three important conditions for RMB internationalization. One is that RMB has a certain degree of circulation abroad; The other is that transactions settled by people should reach a certain proportion in international trade; Third, financial products denominated in RMB have become investment tools of major international financial institutions, including the central bank.

Digital currency's natural and financial integration based on blockchain technology. The use of digital currency will greatly improve the speed of cross-border settlement, and its security is much higher than that of traditional cross-border settlement. With the international influence of China and the expansion of overseas capital, DC/ Europe will become an important driving force for RMB internationalization.

The above data comes from the Analysis Report on Market Foresight and Investment Strategic Planning of Blockchain Industry in China by Forward-looking Industry Research Institute.