As we all know, blockchain is a shared distributed database technology. Blockchain technology has good development prospects in different industries because of its distinctive features. What application areas are there in the blockchain? The following decoration home decoration network Xiaobian will bring you the blockchain application industry introduction, I hope to help everyone.
What are the application areas of the blockchain?
Blockchain application 1 , digital currency:
At present, the most extensive and successful use of blockchain technology is the digital currency represented by bitcoin. In recent years, digital currency has developed rapidly. Due to the characteristics of decentralized credit and frequent transactions, it has a higher trading and circulation value, and can maintain relatively stable prices by developing hedging financial derivatives as quasi-sovereign currencies.
Since the birth of Bitcoin, hundreds of digital currencies have emerged, forming a relatively large industrial chain ecology around digital currency generation, storage and trading. Taking Bitcoin as an example, participating institutions can be divided into four categories: infrastructure, trading platform, ICO financing services, and blockchain integrated services.
Blockchain application 2 , pan-financial applications:
The blockchain has a natural absolute advantage in the financial sector. In the Internet language, this is the genetic determination of the blockchain. Subjectively, financial institutions are most willing to explore the application of blockchain, and new technologies are needed to improve operational efficiency and reduce costs to cope with the current state of the global economy. Objectively speaking, the financial industry has huge market space, and a little progress can bring huge benefits. The financial industry is an industry that requires extremely high security and stability. If the blockchain is verified in the financial sector, it will have a huge demonstration effect and be quickly promoted in other industries. In the financial sector, in addition to digital currency applications, blockchains have gradually begun to be applied in areas such as cross-border payments, supply chain finance, insurance, digital bills, asset securitization, and bank credit reporting.
(1) Cross-border payment: The pain point in this field is the long period of arrival, high cost, and low transaction transparency. Focusing on the third-party payment company, the billing, settlement and clearing in the payment process are completed, and the period of the account is long. For example, the cross-border payment arrival period is more than three days, and the cost is high. Blockchain de-intermediation, open and transparent transactions and non-tamperable features, no third-party payment institutions to join, shortening the payment cycle, reducing costs, and increasing transaction transparency.
(2) Digital Bills: The pain point in this area lies in three risk issues. Operational risk, due to system centralization, once the central server has problems, the whole market is rampant; market risk, according to statistics, in 2016 , there are seven risk events involving hundreds of millions of dollars, involving multiple banks; moral hazard There are events such as " one ticket and more sales " and false commercial drafts on the market. The blockchain de-intermediation, system stability, consensus mechanism, and non-tamperability feature reduce operational risk, market risk and moral hazard in the traditional centralized system.
(3) Credit management: The pain in this field is the lack of data sharing, the asymmetric information of credit reporting agencies and users; the limited data collection channels for formal marketization, the cost of data source battles; the problem of data privacy protection, traditional technology architecture It is difficult to meet new requirements and so on. In the field of credit information, the blockchain has the characteristics of decentralization, de-trust, time stamp, asymmetric encryption and smart contract. It ensures that the limited and controllable credit can be realized on the basis of effectively protecting data privacy. Data sharing and verification.
(4) Asset securitization: The pain of business in this field lies in the fact that the underlying assets cannot be guaranteed. The participation of the main body, the low transparency of the transaction, and the information asymmetry are difficult to control. The pain point of the data lies in the low efficiency of transfer between the parties. The liquidation and reconciliation between the parties' trading systems often require a lot of manpower and material resources, and the way of returning assets is wired and online. There are many channels to monitor the real situation of assets, and assets exist. After the package is formed, the parties in the transaction chain trust the authenticity and accuracy of the underlying asset data. Blockchain de-intermediation, consensus mechanism, and non-tamperable features, increase data transfer efficiency, reduce costs, monitor real-time assets in real time, and ensure trust in the underlying assets of all parties in the transaction chain.
(5) Supply chain finance: The pain point in this field is the long financing period and high cost. Focusing on the core enterprise system of the supply chain, it is difficult for third-party credit agencies to identify the authenticity of various relevant documents in the supply chain, resulting in long manual audits and high financing costs. The blockchain de-intermediation, consensus mechanism, and non-tamperable features do not require third-party credit agencies to verify the authenticity of various relevant documents in the supply chain, reduce financing costs, and reduce financing cycles.
(6) Insurance business: With the development of blockchain technology, information about personal health status and accident records may be uploaded to the blockchain in the future, so that insurance companies can obtain risks more timely and accurately when they are insured. Information, thereby reducing underwriting costs and improving efficiency. The shared and transparent nature of the blockchain reduces information asymmetry and reduces the risk of adverse selection. Its historically traceable features are beneficial to reduce moral hazard and thus reduce the management difficulty and management cost of insurance.
Blockchain application 3 , blockchain + industry applications:
With the continuous verification of the application of blockchain technology in the financial field, its technological advantages have gradually shown value in other industry sectors. At present, medical health, IP copyright, education, culture and entertainment, communication, charity, social management, sharing economy, Internet of Things and other fields are gradually falling into regional blockchain application projects, and “blockchain + †is becoming a reality.
(1) Blockchain + medical: In the medical field, the blockchain can use its anonymity and decentralization to protect patient privacy. Electronic health cases ( EHR ), DNA wallets, and drug anti-counterfeiting are all possible application areas of blockchain technology. In a report last year, IBM predicted that 56 % of medical institutions worldwide will invest in blockchain technology by 2020 .
(2) Blockchain + Internet of Things: The Internet of Things is a very broad concept. If communication, energy management, supply chain management, and shared economy are covered, IoT applications of blockchain technology will become very important. Application area.
(3) Blockchain + IP copyright & culture and entertainment: Since the Internet became popular, digital music, digital books, digital video, digital games, etc. have gradually become mainstream. The rise of the knowledge economy has made intellectual property a core element of market competition. However, the intellectual property infringement phenomenon in the current Internet ecology is serious, and the copyright protection of digital assets has become an industry pain point. Blockchain de-intermediation, consensus mechanism, and non-tamperable features, using blockchain technology, can effectively integrate all aspects of the cultural and entertainment value chain, accelerate circulation, shorten the value creation cycle; at the same time, realize the value of digital content Transfer, and ensure that the transfer process is credible, auditable and transparent, and effectively prevent piracy.
(4) Blockchain + Public Service & Education: In the fields of public service, education, charity and public welfare, issues such as file management, identity (qualification) certification, and public trust are objective. The traditional way is to rely on credibility. The three parties have endorsed credit, but problems such as fraud and lack of existence still exist. Blockchain technology can guarantee the integrity, permanence and immutability of all data, so it can effectively solve the difficulties and pain points of these industries in terms of deposit, tracking, correlation and backtracking.
The above is what application areas of the blockchain brought to you by Xiaobian ? The blockchain application industry introduction of the entire content, I believe that everyone after reading this article has a basic understanding of blockchain applications, if you want to know more about decorative advice, please click to enter the decorative knowledge channel .
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