Reporter: Xing Meng
Source: Securities Daily
Recently, the official website of the National Internet Information Office issued an announcement, revealing the second batch of 309 domestic blockchain information service names and filing numbers. In the list, the bank's lineup has further expanded. Compared with the first batch of only two banks, the second batch has four banks shortlisted, ICBC and Ping An Bank respectively filed two blockchain services, and Jiangsu Bank and Suning Bank each filed one service.
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According to the "Securities Daily" reporters, as of now, there are 6 banks in the country that have filed 14 blockchain services, and the layout is mainly for financial scenarios. It is noteworthy that in the wave of financial technology, banks have the highest attention to blockchain technology. According to relevant reports, in the first half of this year, the bank's research results on financial technology patents were mainly concentrated in the blockchain field, accounting for more than half of the total number of patents.
In fact, in the three major financial services of the bank's asset business, intermediary business and cross-border business, blockchain technology has typical application scenarios. For example, in the capital business, supply chain finance is the first to bear the brunt, and it is also one of the areas where the bank blockchain has achieved the most results, including ICBC, China Construction Bank, Bank of China, Bank of Communications, Ping An Bank and many other banks.
ICBC Admission 2 Blockchain Service
As the most popular topic in the field of global innovation in recent years, blockchain technology has gradually penetrated into the global banking industry.
Blockchain is an emerging digital technology. Its biggest feature is to implement a consensus mechanism on the algorithm to ensure information sharing, trust building and rights acquisition between different nodes. At present, the efficiency bottlenecks, transaction delays, fraud and operational risks of various financial services are expected to be solved after the application of blockchain technology. As a result, more and more banks are competing to join the new trackchain technology.
As the first state-owned bank to record blockchain information services, ICBC's technical layout speed in blockchain is accelerating. It is understood that ICBC has filed two blockchain services, namely “ICBC Chain Blockchain Service” and “ICBC's blockchain-based financial services”.
In this year's semi-annual report, ICBC also disclosed the progress of blockchain technology, namely, “starting the construction of smart government platform, and jointly organizing the management committee of the Xi'an New District to jointly issue the “demolition and capital management blockchain platform”. The "Securities Daily" reporter observed that this is the first time that the industry has applied blockchain technology to the fund management plan for demolition and relocation. The platform will apply ICBC's blockchain technology to realize the whole process of demolition and relocation of original files and capital-penetration. Chain management.
In addition to ICBC, the Bank of Ping An Bank, Jiangsu Bank and Suning Bank also appeared in the second batch of filing lists. Specifically, Ping An Bank has filed two blockchain services for the “SAS blockchain platform” and “blockchain voting”; Jiangsu Bank has filed “Suyin Chain” and Suning Bank for “blockchain IoT movable property” Pledged financing platform." Together with Zheshang Bank and Weizhong Bank in the first batch of filing lists, 5 and 3 blockchain services were filed respectively. According to comprehensive statistics, there are 14 banks in the country that have filed 14 blockchain services, covering state-owned big banks, stock houses, city commercial banks and private banks.
The Academic Committee of the China International Economic Exchange Center believes that for commercial banks, blockchain technology has a series of features such as accessibility, open source, credibility, real-time, decentralization, etc., which can solve information transparency and credibility issues. Applied to a range of areas of financial services.
Banks are optimistic about the blockchain, the three major businesses have layout
Among many financial institutions, banks are quite popular with blockchain technology.
Technology patents have always been the basis for the “first-come” advantage of new technologies and the core competitiveness of the industry. According to the “2009-2018 Financial Technology Patent Trend Report” released by Zero Think Tank, in the first half of 2019, 33 financial institutions around the world applied for financial technology patents, covering sub-industries such as banks, insurance companies, securities companies and trusts. Among them, there are 14 banks and 44 patents in total, which is the financial sub-industry with the largest number of patent applications among financial institutions. It is reported that the bank's patent research results are mainly concentrated in the blockchain field. Specifically, among the 44 patents, the blockchain patents have the largest number of 24, and the number of big data patents is 12; the artificial intelligence and cloud computing fields 10 articles.
In fact, blockchain technology has developed rapidly in the banking industry, covering three major business areas: the bank's asset business, intermediary business and cross-border business. Tianfeng Securities said in the research report that the world's major banks have begun to develop blockchain layouts in asset management, intermediary business and cross-border business. Specifically, in the asset business, the blockchain is mainly involved in the supply chain finance, mortgage and online loan financing; in the intermediate business, it is mainly reflected in the efficiency of the blockchain applied to digital bills; In terms of business, it is mainly represented by blockchain innovation in cross-border trade payments, domestic letters of credit and Forfeiting business and international factoring business.
From the perspective of the industry, not only are many banks currently developing blockchain technology, but the future is also a long-term trend. CITIC Jiantou Securities pointed out in the research report that
“For commercial banks, the impact of blockchain on bank operations and revenues in the short term may be a double-edged sword. In the long run, commercial banks use blockchain technology to improve efficiency and innovation management model is an international trend."
For the blockchain, commercial banks can actively try to accumulate experience and capabilities for large-scale application projects in the future, Tianfeng Securities said in the research report.
“Commercial banks should step up their efforts in the following four aspects: First, actively participate in the formation of the banking sector's blockchain alliance; second, in-depth study of digital currency; third, strive to actively deploy blockchains in multiple business areas. , to seize the first-mover advantage; Fourth, both internal and external, open up a new paradigm of financial services."