Industry Blockchain Highlights: Central No. 1 File Named Blockchain Central Bank Trade Gold Blockchain Platform Business Volume Exceeds 90 Billion

By Wang Qiao

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This weekly report is rich in content. Domestic efforts are being made to fight the epidemic in the country. Blockchain companies donate money and materials to actively develop relevant systems to help the government effectively control the epidemic. Affected by the epidemic, many enterprises have delayed construction. In order to deal with the losses caused by the epidemic, many provincial and municipal governments have successively introduced some policies to promote the development of small, medium and micro enterprises.

In foreign countries, the Federal Reserve, Japan and other countries have accelerated research on digital currencies. The Bank of Japan will hold a central bank digital currency (CBDC) theme forum on the 27th of this month. Secondly, Libra was hit hard again. British Telecom Group Vodafone announced its withdrawal. The 2020 test will see whether Libra can be successfully launched. We wait and see.

The following is a summary of industry blockchain news from January 18, 2020 to February 6, 2020.

I. Industry Information and Reviews

Central Document No. 2020: Speeding up the application of modern information technologies such as blockchain in the agricultural field

In 2020, the Central Document No. 1 mentioned that a national digital village pilot should be carried out, relying on existing resources to build agricultural and rural big data centers, and accelerate the Internet of Things, big data, blockchain, artificial intelligence, fifth-generation mobile communication networks, and smart weather Application of modern information technology in agriculture. (Xinhua News Agency)

Comment: The application of blockchain in agriculture is mostly related to traceability and supply chain. The distributed account book can record and update the status of crops from planting, management and protection to harvesting, storage, transportation, processing, and delivery. It can ensure that agricultural data will not be lost and can be queried in real time. Secondly, the blockchain platform can also help remit money to rural areas and provide agricultural financial solutions.

Beijing introduced "16" measures to promote the development of small, medium and micro enterprises: building a blockchain-based supply chain debt and debt platform

The General Office of the Beijing Municipal People's Government has promulgated "Several Measures on Dealing with the Impact of Pneumonia of New Coronavirus Infection to Promote the Sustainable and Healthy Development of Small, Medium and Micro Enterprises". There are 16 specific measures, of which 9 is "improving the convenience of financing", and the specific requirements are:

1. Strengthen the rapid response mechanism and network construction of financial services, carry out the "online smooth integration project" quick docking service, give full play to the role of the bank-enterprise docking system, improve the availability of financial services and reduce service costs.

2. Improve the functions of the city's renewal loan service centers, speed up the construction of the company's first loan service center, and continue to increase the "first loan rate" and the proportion of credit loans for small, medium and micro enterprises. The proportion of small and micro enterprises without repayment of loans will increase by 20%. the above.

3. Establish a blockchain-based supply chain debt and debt platform to provide rights-financing financing services for small, medium and micro enterprises participating in government procurement and state-owned enterprise procurement.

Article 9 Units responsible for measures include: the People's Bank of China Business Management Department, the Beijing Banking and Insurance Regulatory Bureau, the Municipal Financial Supervision Bureau, and the Municipal Affairs Service Bureau. (Posted in Beijing)

Comment: Recently, in order to cope with the epidemic, many provincial and municipal governments have successively introduced some policies aimed at promoting the development of small, medium and micro enterprises. It helps to support small, medium and micro enterprises to overcome difficulties, stabilize production and operations, and effectively respond to epidemics.

Shenzhen medical insurance blockchain electronic bill service platform has been launched recently

Recently, Shenzhen Finance Bureau and Shenzhen Medical Security Bureau successfully launched the Shenzhen Medical Insurance Blockchain Electronic Bill Service Platform. The platform uses blockchain technology to open up data sharing channels between medical security departments, financial departments, and medical institutions, and can provide citizens with online medical insurance reimbursement and provide more convenient and efficient services. This platform is also the first medical insurance blockchain electronic bill service platform in Guangdong Province. The relevant person in charge of the Shenzhen Municipal Finance Bureau said that in the next step, the Shenzhen Municipal Finance Bureau and Shenzhen Municipal Medical Security Bureau will continue to deepen the application of blockchain electronic bills in the medical insurance field, optimize medical insurance administrative services, and realize the medical insurance reimbursement review. "+ Second batch", bringing more convenience to citizens' life. (Shenzhen Finance Bureau)

Comment: Electronic invoices have gradually begun to land in other industries. The initial catering to the subway will eventually be applied to various industries in need.

Over the past year, the Central Bank's trading gold blockchain platform has accumulated more than 90 billion yuan in business volume

The reporter learned from Xing Yujing, the president of the Shenzhen Central Sub-branch of the People's Bank of China, that the multi-level financing of supply chain receivables, cross-border financing, supervision of international trade accounts, and external payment tax filing have been run on the central bank's trading gold blockchain platform Table and many other businesses. For more than a year since the platform went online, the number of connected banks and businesses has continued to increase. Data show that as of mid-January 2020, there were 44 banks and 485 outlets participating in the promotion and application, and 1898 companies that had business operations, achieving more than 30,000 business on-chain transactions and more than 8,000 business transactions. The cumulative business volume exceeded 90 billion yuan. (Xinhua News Agency)

Comment: Since the launch of the Central Bank's trade finance blockchain platform on September 4, 2018, various financial institutions have gradually joined. In the future, it will also connect more countries and international organizations with similar platforms to form a widely connected global trade financing highway. .

Fed is working on central bank digital currency

Fed Governor Lael Brainard said the Fed is studying a wide range of issues related to the regulation and protection of digital payments and digital currencies, including the costs and potential benefits of issuing its own digital currency. Digital payments can bring convenience but also bring risks to financial stability and monetary policy. (Reuters)

Comment: Compared with the past, the Fed is more open to the possibility of issuing central bank digital currencies.

Bank of Japan to hold central bank digital currency theme forum on 27th of this month

The Bank of Japan issued an announcement saying that the theme forum of "The Future of Transaction Settlement: The Future of the Bank's Digital Currency and Settlement System" will be held on February 27. Recruitment of forum participants will now be initiated, with a plan to recruit up to 150 people.

The Bank of Japan said that in the past year, the stablecoin represented by Libra has received the most attention in settlement-related news. Stablecoins have the potential to improve settlement services, but on the other hand, if various issues such as money laundering, cyber attacks, data protection, consumer and investor protection are not resolved, users will not be able to continue to earn. In addition, the stablecoin may weaken the effect of financial policies, and the stability of the financial system may also be damaged. Based on the above issues, as a central bank whose mission is to maintain and improve the efficiency and security of the settlement system, it is necessary to deepen the understanding of various issues of digital currencies and take various measures.

According to the announcement issued by the Bank of Japan, the Bank of Japan Governor Masamiya Uemiya, the central bank's settlement agency director Kimura Takeda and many other central bank officials are expected to speak at the forum. (Official Bank of Japan)

Guangzhou Nansha District Epidemic Prevention and Control Collaboration System goes online, using blockchain and other information technology

The reporter learned from the Guangzhou Nansha District Science, Industry and Information Bureau that in order to fully respond to the epidemic, the Nansha District Epidemic Prevention and Control Collaboration System was officially launched on February 2. The system is based on the "Nansha City Brain" and uses blockchain and other information technology to aggregate and integrate various types of epidemic prevention information such as key personnel, latest epidemic data, resource scheduling, etc., to open up the "data chimney" of each department and strive to create a unified Outbreak Prevention and Control Command Center. As enterprises in the area resume their work, Nansha District will use the system's enterprise resumption management function to guide the strengthening of personnel prevention and control. Relying on blockchain technology, companies will be truthfully reported on epidemic prevention information to help prevent epidemic prevention work achieve informatization management.

Comment: Using technology to serve the epidemic, in addition to improving government governance capabilities, blockchain can play more roles.

IBM will develop blockchain products to enable automatic reconciliation of temporary work contracts

IBM believes that blockchain is particularly suitable for enterprises to solve the different pain points in thousands of temporary labor contracts, so it is developing this new blockchain product, which will automate the reconciliation of temporary labor contracts. (Cointelegraph)

Comment: Dealing with the large number of contracts generated by temporary workers is a tedious and not automated task for today's companies. One of the biggest difficulties faced by contractors of all suppliers is invoice reconciliation. The use of blockchain technology can be effective Solve such problems.

World Economic Forum organizes blockchain-based traceable platform

On January 23, the World Economic Forum organization announced a blockchain-based public traceability platform designed to help companies from all walks of life respond to "consumer demand for ethical and environmentally friendly products." The main innovation behind the plan is to provide a neutral, blockchain cross-platform to encourage cross-industry collaboration, created by companies such as Everledger, Lenzing Group and others. (Cointelegraph)

Comment: The biggest landing of blockchain is in the field of traceability. Agriculture, public welfare, medical and other fields all have greater demand for traceability.

Vodafone withdraws from Libra Association

British telecommunications group Vodafone has become the eighth company to withdraw from the Libra Association. Both Vodafone and the Libra Association have confirmed that the company is no longer part of the organization. Vodafone will dedicate resources previously used for Libra to its comprehensive and successful digital payment service, M-Pesa, which the company plans to expand beyond the six African countries it currently serves.

Vodafone spokesman Steve Shepperson-Smith said: "We will continue to monitor the development of the Libra Association and do not rule out the possibility of cooperation in the future." (CoinDesk)

Comment: 2020 is also an important year for Libra. The members of the association continue to withdraw, and the regulators continue to question whether Libra can be successfully launched. We wait and see.

Characters and Voices

Ma Mingzhe, Chairman of Ping An Group: Relying on core technologies such as blockchain to build a "1 + N" smart city integrated platform

On January 23, Chairman of the Ping An Group, Ma Mingzhe, said at an enlarged meeting of the party committee held by Ping An Group that Ping An would increase investment in scientific and technological innovation and actively plan for the future. In terms of the application of scientific and technological innovation results, Ping An relies on core technologies such as artificial intelligence, blockchain and cloud computing to build a "1 + N" smart city integrated platform system, covering smart finance, smart transportation, smart enterprise services, smart agriculture, etc. 21 functional sections help provinces and cities overcome "urban diseases" and achieve the goals of "optimal government, prospering the industry, and benefiting the people." (First Financial)

Hartmut Neven, head of Google's quantum computing: China may put the United States at a disadvantage in the quantum hegemony race

Hartmut Neven, Google ’s head of quantum computing, said China ’s huge investment in technology could put the United States at a disadvantage in the quantum hegemony race. He said that China as a society as a whole has the ability to direct huge resources in a direction they consider strategically important. (The Daily Hodl)

Director of the Financial Stability Bureau of the Central Bank: The People's Bank of China will advance in depth to prevent and resolve major financial risks

Wang Jingwu, the director of the Financial Stability Bureau of the Central Bank, wrote in the second issue of China Finance in 2020 that the People's Bank of China will move forward in depth to prevent and resolve major financial risks.

First, strengthen and improve macroeconomic regulation and control, and deepen financial supply-side structural reforms;

The second is to accurately handle risks in key areas and comprehensively rectify the financial order. Continue to carry out special rectification of Internet financial risks such as online lending, severely crack down on illegal financial activities such as illegal fund raising, and vigorously rectify the financial order;

The third is to further clarify and compact the responsibilities of all parties to form a joint force for risk management;

The fourth is to complement the shortcomings of the regulatory system and strengthen financial supervision. Strengthen legislative work in key areas such as combating illegal financial activities;

Fifth, pragmatically promote the reform and opening up of the financial industry to prevent abnormal fluctuations in financial markets and external shock risks;

Sixth, strengthen systemic risk monitoring and improve institutional construction.

CCTV: Haidian District Market Supervision Bureau has done a good job of epidemic prevention and control through blockchain and other methods

According to the CCTV-4 Chinese International Channel (CCTV-4), in order to do a good job in epidemic prevention and control, various districts and departments in Beijing have optimized the handling procedures, streamlined the application materials, and carried out online, palm, and fingertips in a variety of ways. Promote "do not meet" mode. Among them, the Haidian District Market Supervision Bureau has realized the "invisible" mode of business registration, pre-confirmation of corporate housing leasing, etc. by sorting out the business process of enterprises and using various methods such as Internet, telephone and blockchain technology.

People's Daily: Blockchain and other technologies enable communication technology to enter a new stage of accelerated development

"People's Daily" published a review article "Seize New Opportunities in the 5G Era and Promote News and Public Opinion Work to a New Level." The article states that with the advent of the 5G era, technologies such as big data, cloud computing, the Internet of Things, artificial intelligence, and blockchain will rapidly develop, and communication technologies will enter a new stage of accelerated development, which will intelligently transform the news media. Provide strong support. News media must keep up with the pace of technological progress, understand the characteristics and advantages of 5G, and explore the application of it in all aspects of news gathering, production, distribution, reception, and feedback, and build an information infrastructure that truly meets the needs of the work of news and opinion in the new era. To vigorously improve the informationization level of news and public opinion work. Based on the forefront of information technology development, we should carry out innovative experiments on artificial intelligence, block chain and other emerging technologies to support the service of news and public opinion work, and maximize the role of technological innovation results in the intelligent transformation of news media.

Peng Bo from Peking University: After "New Crown Pneumonia", the blockchain will accelerate into the application implementation stage

Peng Bo, Chair Professor of the School of Journalism and Communication, Peking University, published the article "Top Ten Changes That the" New Crown Pneumonia "Could Bring to the Internet in China," and stated that digital technology has become a "new weapon" to fight against the "New Crown Pneumonia" . It can be expected that field-tested artificial intelligence AI, Blockchain, Cloud Computing, Cloud, Big Data, Edge Computing, Internet of Things IOT and other digital technologies will accelerate application implementation in the main battlefield of economic and social development. (Cover News)

Li Xiaojia, President of the Hong Kong Stock Exchange: Plans to introduce blockchain technology in the northbound transaction settlement system

Li Xiaojia, the president of the Hong Kong Stock Exchange, revealed that he plans to introduce blockchain technology in the northbound transaction settlement system and is currently in the testing phase. (Financial Associated Press)

Nandi Zhang, Renmin University of China: There are two ways to deploy a blockchain material chain architecture in terms of material donation and distribution scenarios

Zhang Nandiyang, Dean of the Qingdao Branch of the National Development and Strategic Research Institute of Renmin University of China, published a paper entitled "Blockchain + Epidemic: Fighting the Data in the Sun". As mentioned in the article, in terms of material donation and distribution scenarios, there can be two ways to deploy the blockchain material chain architecture: one is to build a special chain, placing all organizations involved in material donation and distribution on the same chain. Deploy multiple nodes within each organization to form an alliance chain. Another way is to use the organization type as a unit to build a chain of logistics, government departments, charities, and distribution channels to form a cross-chain network. This may make it easier to organize and collaborate within the chain. After the crisis, the respective chains can also be used in daily life. Other sharing scenarios. (Surging news)

European Central Bank Management Commissioner Villerois: March calls for digital currency projects

The European Central Bank's governing board, Villerois, said it would call for a digital currency project in March. (Jin Shi)

Libra Association Vice Chairman: Libra is building a governance model to disrupt the remittance payment industry

Speaking about the prospect of Libra developing this field, Dante Disparte, vice chairman of the Libra Association, said in an interview: "If we provide digital wallet providers with interoperability opportunities, it will be a major game change in the world. At this point, of course, means that you must go through the process we are going through now-to establish a governance model that can withstand the variability and rise and fall of any organization and association, but also a model that can achieve regulatory standards for consumer protection. (AMBcrypto)

Libra head: Central bank digital currency is the key to innovative cross-border payments and solving the problem of unbanked accounts

In the World Economic Forum panel discussion on digital currencies, Libra project leader Calibra's David Marcus said that regardless of the nature of the central bank's digital currency, its discussions are the key to innovative cross-border payments and solving the problem of bankless accounts. Central banks can allocate CBDC in two possible ways. One is a wholesale CBDC, so it can flow directly to consumers through existing banks and banking systems; or retail.

But Marcus believes that in the context of the existing ecosystem, wholesale CBDC is meaningless because citizens will be further excluded and the central bank itself will not benefit from this change. In addition, Marcus stated the purpose of launching Libra: trying to figure out how we can solve the unacceptable problem, that is, 1.7 billion people who currently do not have banking services, and 1 billion people who are underserved. (Cointelegraph)

Wang Jianfa, Secretary General of the Chinese Macroeconomics Society: Overturning the existing financial order, Libra and others can't

Wang Jianfa, secretary-general of the Chinese Macroeconomics Society, wrote "Subverting the existing financial order, Libra cannot do it." The article said that whether the transition to the digital economy will generate new financial insecurity is a problem that must be faced. There are three aspects worthy of attention.

The first is whether private digital currencies will seriously disrupt the existing financial order? In the future, it is possible to replace the sovereign credit currency, and it will never be a cryptocurrency such as Bitcoin. Libra can't wait. At least for now, private digital currencies that can subvert sovereign credit currencies have yet to emerge.

The second is the central bank's digital currency-can the CBDC end the financial risks generated by sovereign credit currencies? If sovereign credit currencies such as the US dollar, euro, and yen collapse in the new financial crisis, even if there is a CBDC, it will be a destiny with sovereign credit currencies. The third is the question of resistance to quantum cryptography. All current encryption methods are like waste paper in front of quantum computing power. Therefore, if we do not have China's own quantum computing power, and if we develop a code that can be protected from quantum computing power, China's financial system will be insecure. (First Financial)

Davos Voice: Mainstream finance will fall behind if new technologies such as blockchain are not adopted

According to some experts at the World Economic Forum (WEF) in Davos, Switzerland, if mainstream finance does not adopt new technologies, such as blockchain and encryption, they will fall behind. Among them, Riccardo Spagni, former head maintainer of Monero, said, "I think through many of these events and some other blockchain events, we started to show them that if they don't adapt, if they don't change, they will eventually fail. They will eventually lose because new finance will replace old finance. (Cointelegraph)

Wang Gang, director of the Beijing Municipal Bureau of Economy and Information Technology: Encourage enterprises to develop new technologies in the credit industry, including blockchain

On January 20th, at the Beijing 2020 Economic and Informatization Work Conference, Wang Gang, director of the Beijing Municipal Bureau of Economy and Informatization, stated that Beijing will support all districts to conduct pilot demonstrations of regional credit systems. Support the qualified districts to build credit industrial parks. Encourage enterprises to use blockchain, big data, artificial intelligence, etc. to develop new technologies, new models and new products in the credit industry, and support the construction of credit technology industry innovation centers. (China News Network)