Fintech giants hunt for blockchain: different landing postures

Source: Beijing Commercial Daily

Beijing Commercial Daily reporter Meng Fanxia Ma Yan intern reporter Liu Sihong

At the beginning of the new year, the blockchain embarked on the air again. On January 8, a reporter from Beijing Commercial Daily learned that institutions including Tencent, Ant Financial, Baidu, and Financial One Account have recently stepped up the implementation of the blockchain, and they are all in the "blockchain + finance" field. Some layout. Some analysts said that payment and supply chain finance will be the first large-scale application scenarios of blockchain.

Giant Racing:

Tencent develops blockchain + ant blockchain has generated revenue

Under the strict supervision, large-scale industry speculators have fallen off the other side, and domestic giants have also quietly started a hunting plan on the landing of blockchain applications. On January 8, Beijing Business Daily learned that on the one hand, Tencent recently added a number of patent information related to blockchain; in addition, Ant Financial revealed that its blockchain business has generated revenue.

Tianyan investigation showed that Tencent recently added a number of patent information related to the blockchain. A reporter from Beijing Business Daily noticed that many of the patents were related to the application of Tencent's blockchain. Processing method, device, device and storage medium "," blockchain-based medical record data processing method, device, storage medium and device ", and" blockchain network consensus check method, device, storage medium and computer device " Wait. From the perspective of the application of the financial scene, Tencent's new "blockchain + loan" patent can use the blockchain smart contract technology to achieve the full process monitoring of loan information.

The specific process is as follows: 1. After receiving the borrower's borrowing request and generating an electronic debit based on the borrowing request, the electronic debit is stored on the blockchain so that the blockchain stores the electronic debit and the associated lending identification; The borrower's repayment record stores the repayment record and the loan ID on the blockchain; 3. When the repayment record does not meet the agreed repayment requirements, determine the agreed deduction information based on the repayment record and the agreed repayment requirements , Store the agreed debit information and the loan ID on the blockchain, and send a debit request to the bank node; 4. Monitor the debit record obtained by the bank node based on the debit request. When the debit record does not meet the agreed deduction, When requested, send a reminder to the lender including whether to initiate litigation against the borrower.

Regarding Tencent's "blockchain + borrowing" patent, a reporter from Beijing Commercial Daily asked Tencent about the latest developments and the case of landing. The latter responded that the patent has not yet been implemented. However, in the financial scene, the blockchain + supply chain financial platform "micro-enterprise chain" has been implemented with partners.

It is worth noting that, in addition to Tencent, the direction of Ant Financial's exploration on the blockchain has become increasingly clear. Unlike Tencent, while Ant Financial is accelerating the application of blockchain technology, it is also open to the industry. technical skills.

Ant Financial recently said that the current application of the Ant blockchain has included more than 40 scenarios including cross-border remittances, supply chain finance, judicial deposit, and electronic bills, with an average increase of 2 monthly. On January 8, a reporter from Beijing Commercial Daily further learned that Ant Financial's "Open Alliance Chain" is expected to be fully launched in February this year. At the annual media meeting of Ant Financial's Blockchain, Jiang Guofei, Vice President of Ant Financial Group and President of Intelligent Technology, told a reporter from Beijing Business Daily that Ant Financial announced the opening of the alliance chain as early as September 2019 at Yunqi Conference. It is currently in full beta, and it is expected that the Open Alliance Chain will be fully launched in February this year. According to Jiang Guofei, Ant Blockchain is the first in the global industry to launch an open alliance chain to share platform usage rights, helping small and micro enterprises and developers enter the blockchain industry at a lower cost and develop their own applications.

A reporter from Beijing Commercial Daily learned that the "Open Alliance Chain" relies on the ant blockchain technology chain and innovative public license mechanism, and jointly builds with authoritative node partners in various industries to mainly solve the existing high blockchain network costs and development thresholds. High, can not be commercialized on a large scale. Since the launch of the public beta in 2019, thousands of partners have applied to experience the product for free, and have landed in the first batch of scenes, including blockchain games, music record copyright confirmation, time capsules, etc.

According to Jiang Guofei's introduction, the current ant blockchain has generated revenue, but the specific revenue situation is not yet disclosed.

Scene battle:

Payment and supply chain finance take the lead in large-scale applications

"Since October 2019, giants such as Tencent and Ant have flowed out information on the corresponding scenarios of blockchain technology landing in various fields. And this has shown a big trend that the giants are accelerating the adoption of blockchain technology. Integrate into their existing business. "Liu Fengru, director of the Blockchain Technology and Application Research Center of Shanghai University of International Business and Economics, and an industrial professor at Nanjing University of Information Science and Technology, commented.

It is worth noting that in addition to Tencent and Ant Financial, institutions including Baidu, JD.com, and Financial One Account have all released new news about the layout of the blockchain in the new year.

Among them, on January 7th, the listed company Yuxin Technology announced that Baidu intends to transfer 5.71% equity of Yuxin Technology, and the two parties will start cooperation on blockchain, compliance token, and supply chain finance; meanwhile, Financial One Account Express also said that it has implemented blockchain applications in 14 business scenarios such as trade financing, asset securitization, supply chain finance, and reinsurance; in addition, JD.com also pointed out that in 2020, the large-scale commercial conference of blockchain Gradually moving towards maturity, the traceability of supply chain and digital finance will be the two major directions of JD Digital's blockchain layout.

The reporter from Beijing Business Daily noted that from the perspective of multiple layout scenarios, the giants generally have a layout in the "blockchain + finance" scenario, and are further promoting the landing. In this regard, Liu Feng pointed out that the blockchain technology itself originates from the financial field and from a point-to-point payment network and facility concept. Therefore, "blockchain + finance" is a natural fusion.

In the "blockchain + finance" field, what scenarios can be applied on a large scale? Liu Feng further predicted that "in the future implementation scenario of the" blockchain + finance "field, payment will first land, followed by supply chain finance's financing of receivables and prepaid accounts, and finally some mortgages Or insurance business. Of course, I am most optimistic about the infrastructure part, that is, the DCEP digital currency system in the design and test is revealed on multiple occasions. "

Professor Chen Wenjun of Zhangjiang Research Institute of Fudan University and executive director of Digital Economy Research Center also pointed out that there are many current blockchain financial segments, including payment, consumer finance, wealth management, financial leasing, financial risk control, and financial supervision. In her opinion, the payment scenario is the first landing and mature scenario of the blockchain, and financial risk control, supply chain finance and penetrating financial supervision will also be blockchain scenarios that are easy to scale.

Chen Wenjun further stated that the best "blockchain + finance" standard is to benefit the public and protect the interests of consumers. The current operation time of the blockchain + finance project is not long, and it is necessary to wait for sufficient time to test their actual situation. Social effects.

Challenges and trends:

Legislative lag is difficult to implement

Although the battle for giant blockchain lines is gradually clear, "blockchain + finance" is widely optimistic in the industry. But it cannot be ignored that in the current process, there are still many difficulties in "blockchain + finance" that need to be broken.

In Liu Feng's view, there are currently difficulties in landing in the "blockchain + finance" field. The first is the technical side. If you want to truly land in the industrial scene, whether it is trading TPS (system throughput), security, etc., there are continuous improvements and iterations. At the same time, you need to find the most suitable business to truly integrate the blockchain into In the business, it will also drive the increase of business value. In addition, the implementation of policies needs to be accelerated. From the current point of view, in the short term, a direct law and regulation applicable to blockchain technology and digital assets cannot be formed.

Chen Wenjun pointed out that the difficulty of "blockchain + finance" lies in the implementation of business cases. Although the technology is mature, many factors such as market acceptance, customer experience, and community development must be considered in practical applications. When it comes to the biggest challenge of the current "blockchain + finance", Chen Wenjun believes that legislation is lagging. She bluntly stated, "In fact, it is difficult to accurately assess the conflict of rights and obligations before a landed project, and operating under the premise of a blank professional law will bring trouble to the industry."

Although there are still difficulties in landing, the landing trend is unstoppable. From the perspective of many analysts in the industry, 2020 will be a year when the blockchain is out of business and millions of daily applications have entered the public. A few days ago, the Alibaba Institute announced the top ten technology trends of 2020, and mentioned that a large number of innovative blockchain application scenarios and multi-dimensional collaborations across industries and ecology will emerge in the future. Applications will enter the masses. Chen Wenjun said, "scale, production, and public are the three key words for blockchain applications in 2020."

Liu Feng pointed out that "Blockchain will be widely used in all walks of life in 2020, but the outbreak of 'blockchain + finance' is still difficult to say. After all, the threshold for financial participation is higher, and the participants are mostly national teams. "

For the battle of the giant blockchain, Liu Feng suggested that on the one hand, it is necessary to maintain a high degree of strategic attention and further improve the investment in cutting-edge technology resources to ensure that the dust of the blockchain technology will land in the future and become the actual driving force of the industry. One of them was not absent. At the same time, the policies and regulations that may be involved in cutting-edge technologies still need to invest resources for study and deduction, and maintain a high degree of risk awareness. The third is to consider more circuitous operations. In addition to domestic, it can also promote related business at home and abroad, fight in off-site battlefields, accumulate technical maturity, and explore more landing scenarios.