I know the blockchain, but does it know the real application scenario?

Everyone knows the blockchain at the moment, but many people don't know the value of the blockchain, let alone the blockchain to the applicable scenario. In fact, the technology of blockchain has already shown application prospects in many fields. Many organizations and organizations have a strong interest in blockchain technology, and are actively exploring the blockchain in this field. This section will The main application scenarios of the current blockchain are analyzed and introduced.

Digital ticket

 

Traditional paper papers are subject to risks such as easy loss, easy forgery and tampering. By introducing blockchain technology, ticket information and status can be recorded on the blockchain platform. Once a ticket transaction is generated, each node on the blockchain first verifies the transaction. Once the nodes reach a "consensus", the transaction is recorded on the blockchain and "not tamperable".

There are multiple copies in the blockchain, which increases the cost of maliciously tampering with content, and thus has higher security than traditional tickets. In addition, in the traditional bill industry, the reconciliation and liquidation between various institutions is relatively complicated, and the blockchain technology can effectively improve the efficiency of fund clearing by means of mutual accounting and mutual verification.

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At the same time, each organization maintains a relatively independent business autonomy, thus achieving a perfect balance of efficiency and flexibility. Due to the mutual trust problem of the participants, the traditional bill circulation review is cumbersome and difficult to realize, making it difficult to achieve mutual benefit. By registering the bill information on the blockchain platform, using the characteristics of low blockchain expansion cost and simplified transaction steps, the bill is transformed into a standardization degree that the customer can hold, circulate, detach, and realize. Digital assets.

supply chain finance

 

Traditional supply chain financial platforms are generally dominated by a single financial institution, making it difficult to achieve expansion and promotion among peers. Blockchain technology allows participants to focus on the business system docking blockchain platform, enabling rapid coverage across the industry. The trade information, credit financing information between enterprises in the supply chain, as well as the warehousing and logistics information involved in the trade process are all registered in the blockchain, and the information cannot be tampered with, ensuring the real and effective assets, reducing the financing cost of the enterprise and Bank crediting costs.

Cross-institutional information is synchronized with the distributed accounting system through the consensus mechanism of the blockchain. By accessing any node, complete transaction data can be obtained, and the information island can be broken. By accessing internal blockchain nodes, organizations can obtain complete transaction data and enhance credit collaboration between enterprises. By recording the asset vouchers such as accounts receivable, acceptance bills, warehouse receipts, etc. on the blockchain, and supporting related operations such as transfer and pledge, the assets are digitized, and a digital, point-to-point transmission is constructed through the blockchain. The value of the credit system enables the transmission of value on the blockchain.

This reliable value transmission system not only improves the financing ability of the demand side, but also improves the supervision ability of the supplier, which provides a fundamental guarantee for the health and stability of the financial system. Control supply chain processes through smart contracts, reduce human interaction and increase industry efficiency. No need for central platform audit confirmation, through the sensor to detect real warehousing, logistics information, use the wireless communication network to send trusted data to the blockchain verification node, to ensure that when the contract conditions are met, the relevant operations are automatically triggered to reduce operational errors.

accounts receivable

 

The traditional accounts receivable are completed through the confirmation of offline transactions, and the existence of risks such as forgery transactions and tampering with accounts receivable information reduces the trust of the trading participants. The whole process operation of accounts receivable is carried out through the blockchain platform, which realizes the full signature verification of accounts receivable transactions and is non-repudiation. At the same time, the use of intelligent contracts to realize authority and state control makes the accounts receivable more secure and controllable. , built a highly trusted trading platform.

There are a large number of participants in the accounts receivable transaction process, and the business is complex. In the face of financing applications for traditional accounts receivable, financial institutions need to conduct a large amount of trade background review. The blockchain platform records the life cycle of the entire accounts receivable by time stamping, so that all market participants can see the flow of funds and information flow, eliminating the possibility of ticket fraud.

Traditional accounts receivable have difficulties in circulation in the trading market due to mutual trust problems. The accounts receivable are stored and traded in the form of digital assets. The characteristics that are not easy to be lost and cannot be tampered with can make the new business model can be quickly promoted, reduce the cost of use while improving the efficiency of customer fund management, and form a mutual trust mechanism among different enterprises. This enables multiple financial ecosystems to interact and benefit through the blockchain platform, with good business value and broad development space.

Data transaction

Data is unique as a special commodity, and there is a risk of being copied and transferred. The data intermediary platform established according to the commodity circulation intermediary model constitutes a potential threat to the rights of both parties to data transactions and becomes an obstacle to data transactions. Only by establishing an information platform that conforms to the characteristics of data, and ensuring the security and rights of data through technical mechanisms rather than just commitments, so that the data transaction parties can be truly assured, and the smooth flow of data can be accelerated.

The use of blockchain technology to determine the rights of data can effectively protect the rights of all parties to the data, eliminate the risk of data being copied and resold multiple times, turn the data into protected virtual assets, and determine the authenticity of each transaction and data. recording. The use of traceability and non-tamperability of the blockchain can ensure the compliance and effectiveness of data transactions, stimulate the enthusiasm of data transactions, and promote the scale growth of the data market.

Bond trading

 

The bond business is a business that requires the participation of multiple organizations. In the process of issuing and trading, each organization needs to synchronize and confirm the information through traditional mailing or message forwarding. If the bond issuance transaction is implemented through a centralized system, there may be a risk of manual operational errors or malicious tampering. After using the blockchain technology, the system can ensure the synchronization and consistency of data from the bottom of the blockchain, reduce the time, labor and capital costs of docking between different institutional systems, and rely on the inefficient collaboration based on business flow to upgrade without relying on A low-cost, efficient, and highly trusted collaboration system that mediates basic business processes with any intermediary.

Moreover, many of the traditional centralized systems are enclosed within the organization, and it is impossible to timely and effectively supervise external systems. There will be blind spots in supervision. Using blockchain technology, regulators join blockchains in the form of nodes to monitor transactions on the blockchain in real time. At the same time, smart contracts make bonds more restrictive and controllable throughout their life cycle, and can also effectively improve regulatory effectiveness.

Since the data of the blockchain is complete and unchangeable, any value exchange history can be tracked and inquired, and the process of bond transfer can be clearly viewed and controlled, thereby ensuring the security, validity and authenticity of bond transactions, and effectively preventing Market risk. At the same time, blockchain technology can avoid the work of third party reconciliation, thus effectively improving the liquidation efficiency of bond transactions.

big deal

 

Block trading technology based on blockchain technology can realize real-time clearing of block trades between clearing banks, improve the efficiency of large-scale transactions, and facilitate business development. Smart contracts control the bulk trading process, reducing human interaction and improving processing efficiency. No need for central platform audit confirmation, when the quotation meets the matching conditions, the related operations are automatically triggered to reduce operational errors.

Exchanges and clearing houses can be used as masters and backups, responsible for sequencing all transactions and launching consensus. Real-time disaster recovery is fault-tolerant. If a major fault occurs, the master node can be switched in seconds. The access node fails, and the historical data is quickly restored through the built-in algorithm to avoid loss of transaction data. The member and the bank access terminal independently process the query, and the data is synchronized in real time to alleviate the pressure on the master node. The supervisory node obtains relevant transaction data in real time, and the regulatory agency conducts real-time supervision of the bulk transaction.

Other scenes

 

Blockchain is a protocol that can carry out value transmission. In addition to the above scenarios, it can also be applied to all other scenarios related to value transfer, such as digital copyright, notarization, identity authentication, social welfare, and so on.

In the field of consumer finance, Sunshine Insurance Company has introduced “Sunshine Bay” points using blockchain technology as the underlying technology architecture. On the basis of enjoying the ordinary points function, users can also transfer points to friends in the form of “red envelopes”. It can be exchanged with points issued by other companies.

In the field of digital copyright, the phenomenon of intellectual property infringement is serious. Based on the blockchain technology, the work can be confirmed by time stamp and hash algorithm to prove the existence, authenticity and uniqueness of intellectual property, and the whole life of the work can be The cycle is traced back, which greatly reduces the cost of rights protection.

In the medical field, patient confidential information leaks have occurred. In April 2015, Factom announced a partnership with Healthnattica, a provider of medical record and service solutions, to study the use of blockchain technology to protect medical records and track accounts for medical record companies. Tamper-proof data management.

In the field of education, the current student credit system is incomplete and there is no historical data information chain. This leads to the inability of government and employers to obtain complete and effective information. The use of blockchain technology to store student's academic information can solve information opacity and ease. The problem of being tampered with is conducive to building a benign student credit system.

In the field of social welfare, charitable organizations must have credibility to obtain the support of the masses, and transparency of information is one of the necessary conditions. Companies such as Ant Financial have begun to apply blockchain technology to public welfare donation platforms. Accelerating the transparency of public goods offers a possibility. Blockchain technology can also be used in the field of government information disclosure to help government departments implement public governance and service innovation, and improve the efficiency and effectiveness of government departments.

There are still many application scenarios about the blockchain. There are infinite possibilities for the future of the blockchain. This requires more excellent companies, enterprises and talents to join the exploration team of blockchain technology, so that the blockchain can be made. Technology is getting faster and better. People have reason to expect that under the paradigm of blockchain technology, the advent of another "big voyage era" will bring about a reconstruction for all walks of life and society.

The above content comes from "blockchain technology advancement and actual combat."

Author: code small book

Source: Blockchain Base Camp

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