Application of Blockchain in Financial Field

I. Application and Development of Blockchain

Some internet, internet start-ups and traditional financial industries have begun to try to apply them in some projects.

The second is the blockchain of domestic financial institutions testing water.

Various financial institutions have tried water in succession, which are basically in the conceptual experiment stage and have not been commercialized on a large scale.

Third, the application panorama of blockchain in the financial field

Fourth, ghostwriting

Verb (abbreviation for verb) digital bill

Bill is an important financial product in the financial market, which has the dual functions of payment and financing, and has the characteristics of high value and bearing bank credit or commercial credit. Once a bill is issued, its face value, date and other important information shall not be changed. Bills also have the property of circulation, and can be accepted, endorsed, discounted, reposted and collected within a specific life cycle. Once the transaction is completed, it cannot be revoked. The circulation of bills has two characteristics: first, the circulation of bills mainly occurs in bank acceptance bills, and the number and circulation of commercial acceptance bills are small; Second, banks independently grant credit to bill business and control risks. The risk control results of a single bank may affect other participants in the bill market trading chain.

The experimental production system of digital bill trading platform adopts SDC (Intelligent Bill Chain) blockchain technology, uses homomorphic encryption, zero-knowledge proof and other cryptographic algorithms to protect privacy, uses practical Byzantine Fault-tolerant Protocol (PBFT) to identify * * *, and uses transparent mechanism to provide data monitoring.

The experimental production system includes four subsystems: bill exchange, bank, enterprise and monitoring: the bill exchange subsystem is responsible for managing the blockchain and monitoring the digital bill business; The banking subsystem has business functions such as acceptance and collection, discount and collection, cash discount, collection and settlement of digital bills; The enterprise subsystem has the business functions of issuing, accepting, endorsing, discounting and presenting payment of digital bills. The monitoring subsystem monitors the blockchain status and business occurrence in real time.

Six,