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Tencent smart finance white paper: blockchain will be the future digital economy infrastructure

Time : 30/07/2021 Author : ydb42r Click : + -
        Recently, Tencent Research Institute, Tencent Financial technology think tank and Tencent fit jointly released the white paper on smart Finance (hereinafter referred to as the white paper). The white paper expounds the concept of "smart finance" proposed by Tencent from five chapters: an overview of smart finance, the regional development of smart finance in China, the three-dimensional picture of the smart finance industry, the development trend of smart finance, and the supervision and compliance of smart finance. The white paper believes that the evolution of smart finance can be roughly divided into four stages: (1) financial informatization provides the bottom guarantee of financial infrastructure; (2) Internet Finance improves user experience and cultivates usage habits; (3) Financial technology makes it possible to combine emerging technologies such as artificial intelligence and blockchain with financial services; (4) Smart finance makes technology and finance highly integrated and promotes the development of related ecosystems.
 
        The white paper also pointed out that massive data has provided the necessary foundation for the evolution and breakthrough of related technology fields, and promoted the rapid development of emerging technology forms such as cloud computing, artificial intelligence, Internet of things, blockchain and so on. All kinds of emerging technologies are interdependent, progressive and mutually supportive, and have become the underlying implementation technology of smart finance. Tencent's "smart finance white paper" has a total of 50 pages, which is very rich in content. Interested students can search and study it by themselves, and they will get something. This article only interprets some content of blockchain involved in the white paper. In 2008, "Nakamoto cong" released the paper "bitcoin: a peer-to-peer e-cash system".
 
        In 2009, the "Genesis block" was born and bitcoin was officially launched. As the underlying technology of bitcoin, blockchain technology has supported the smooth operation of bitcoin system for nearly nine years. With the discussion on whether it can build a more stable financial infrastructure, blockchain technology has begun to receive continuous attention from the technology and financial industry. Blockchain itself is not a new technology, but an integrated innovation of distributed networks, data encryption, consensus mechanisms, smart contracts and other technologies. In 2016, under the guidance of the Ministry of industry and information technology, the China blockchain technology and Industry Development Forum released the white paper 2016 on China's blockchain technology and application development, which broadly defined blockchain technology as using block chain data structures to verify and store data, using distributed node consensus algorithms to generate and update data, and using cryptography to ensure the security of data transmission and access A new distributed infrastructure and computing paradigm that utilizes smart contracts composed of automated script code to program and manipulate data.
 
        Blockchain can be simply understood as records (blocks) bound (linked) together one by one to form an account book (blockchain) that cannot be changed. Three stages of blockchain development: blockchain 1.0 digital currency (gongyouliang), blockchain 2.0 smart contract (Alliance chain), blockchain 3.0 value Internet (digital economic infrastructure). Xige believes that the introduction to the concept of blockchain technology in Tencent's white paper on smart finance is simple and accurate, which is worth learning by students who want to understand blockchain knowledge. From Tencent's "smart finance white paper" on blockchain, we can also see Tencent's attitude towards blockchain, which is conducive to a more intuitive understanding of blockchain technology.
 
        Blockchain provides a safe, efficient, reliable and transparent business transaction mode for both parties through encryption algorithm, point-to-point network, consensus algorithm and other technologies. It has the following characteristics:. Blockchain technology is arranged through digital encryption algorithm, and the nodes are connected with each other. No central node can be attacked and tampered with, so it has higher stability and security. The public blockchain system is open to everyone. Anyone can query and develop through the port. The system is open and transparent, which makes it easier to form a consensus. The exchange between blockchain technology nodes follows a certain algorithm, judges by itself through program rules, and forms a kind of trust. Even in the case of anonymity, it will generate basic trust for each other.
 
        The white paper points out that blockchain is not a new technology, but a new combination of technologies. Distributed ledger + cryptography + consensus mechanism + smart contract. The white paper believes that at present, emerging technologies such as big data, cloud computing, Internet of things, artificial intelligence, blockchain, etc. are emerging and maturing, which will further promote a new round of innovation in the field of financial services. The combination of technology and financial service mode is no longer simply "moving" financial business to computers and mobile phones, but deeply embedded in various processes and links of financial services, from front-end product marketing and user services to back-end risk control and compliance management, reflecting the comprehensive and integrated application trend of various emerging technologies.
 
        Taking the intelligent investment adviser mode as an example, the seamless connection of big data analysis, cloud computing storage, machine learning and other technologies has laid a foundation for intelligent investment advisers to issue more accurate and personalized investment suggestions and asset allocation schemes. According to the white paper, Tencent Financial Technology Innovation represented by blockchain and financial cloud grew rapidly in 2017. In just one year, the number of registered enterprises of Tencent blockchain open platform increased from 0 to more than 800, completing the leap of "from 0 to 1" 28. The total number of financial cloud access merchants also increased by 197%. These fintech enterprises are highly concentrated in first tier cities. Beijing, Shanghai and Shenzhen are prominent financial centers, forming the first tier.
 
        The number of blockchain open platform registered enterprises in the three cities accounts for 45.4% of the total number of enterprises in the country, and the number of enterprises connected to the financial cloud accounts for 53.1% of the total number of enterprises in the country. Hangzhou and Guangzhou form the second tier. There is a certain gap with the first tier in terms of volume, but the overall level is still much higher than that of other cities. On April 12, Tencent officially released the "Tencent blockchain + supply chain financial solution". Caiyige, general manager of Tencent blockchain business, said that "blockchain + supply chain finance" will be the focus of Tencent blockchain in 2018. "We will take the accounts receivable of core enterprises as the underlying assets, and realize the circulation of creditor's rights vouchers through Tencent blockchain technology, so as to ensure that relevant information can not be tampered with, cannot be repeatedly financed, and can be traced, so as to help relevant parties form cooperation and innovation in the field of supply chain finance".
 
        In fact, apart from digital currency. Tencent's layout on the blockchain has penetrated into all walks of life. Tencent blockchain has been applied in such fields as supply chain finance, digital assets, logistics information, legal deposit certificate, public welfare search, medical treatment, games and so on.
 
        
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