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Why do Morgan, Wal Mart and other giants prefer to use alliance chain to issue stable currency instead of public chain?

Time : 11/09/2021 Author : oslqj7 Click : + -
        All belong to the public chain. Giving "everyone" a computer can have the same rights. There are a large number of enthusiastic developers, mature dapps and specialized VC. The teams and projects here have a good understanding of decentralization and why blockchain should be used. The public chain is a large amusement park for everyone. Most of the mature applications and frameworks are oriented towards the public end. The following is Ethereum's existing more advanced and mature applications or frameworks:. Most of them are financial related topics, Dao basedbank, open sourcebank and decentralizedbank. There are almost no traditional banks in this world.
        Here, we expect to breed the next generation of revolutionary and phenomenal products or services. Alliance chain is a blockchain that requires registration and license. It is a set of rules designed for "limited participants" to play. Permissionedblockchain is a more accurate term. No matter who can participate in the erection of nodes and who can deploy smart contracts, they can be designed within the alliance. For the alliance chain mentioned here, the following famous ones are for reference:. Hyperledger: it is building an enterprise level general blockchain open source framework regardless of industry. At present, there are more than 400 proof of concept (POC) cases of blockchain cooperation with IBM worldwide.
        Quorum: J The technical framework based on Ethereum launched by pmorgan has been changed to be suitable for use in the financial industry. Structurally, it supports the coexistence of "only public account book" and "private account book", and has a guiding position in the financial industry. Because based on Ethereum, the latest progress of many Ethereum ecosystems can be shared at the smart contract and protocol levels. R3 corda: born for the financial industry, it advocates combining the existing business systems rather than rebuilding the whole set. Compared with the development direction of public chain using the public to breed applications, the alliance chain tries in turn, and takes inter enterprise collaboration as the main application case.
        Most of the opportunities for projects are collaboration platforms between enterprises, which use blockchain to do things that traditional servers could not do in the past. If you are not in this company or have a certain understanding of business processes, the public may not feel it. I just think it's a press release issued by XX bank and XX company. The actual success or failure experience of the platform will not necessarily be publicly available for the public to view and learn. In the process of introduction, many enterprises use the old thinking to design the whole system, but they can't answer "why use blockchain?" So, which scenarios are suitable for blockchain import?. The need for multiple parties to jointly store data requires multiple participants to write data. There is no impartial third party, or the cost of adopting an impartial third party is too high. Multiple parties can range from small to large, from different organizations, enterprises, sub groups, groups, associations and industrial chains, and even large to countries. From the perspective of different interests, under the condition of incomplete competition, through the joint maintenance of data, the participants can produce greater value.
        Sometimes it can even be said that technology is used cooperatively to jointly create a "fair third party". As long as three scenarios are met at the same time, we can basically answer why blockchain is used. Whether there is "existing business" running on the blockchain is the key to making blockchain products and services. Why? Because existing businesses will precipitate a batch of reliable data, and only with reliable data can new businesses be developed. With the trusted data precipitated by the existing business, the applications and services bred are solid. Compared with no data support, simply using the incentive mechanism requires everyone to throw data onto the blockchain and develop business, which is much more reliable.
        If any transaction records of both parties in the past exist in the traditional server, it is often difficult to win the trust of new participants. For example, based on our experience of buying and selling goods on Taobao and, the information about shops and consumers is stored in the traditional server of the mall, and the data is owned by the mall. In the future, we will do business with foreign strange customers. Can we directly take out the credit we have accumulated in the mall and let strangers make reference? The mall temporarily represents a trusted third party, but if foreign customers have not heard of these malls, can these transaction information and evaluation be of reference value?. What if the mall is in poor operation and fails to log in again? Then these long accumulated trading information and evaluation will be destroyed.
        If such consumption, sales and evaluation data can be saved in the format of blockchain, transaction information will help to provide external reference as a kind of credit. Therefore, if the seller has this demand, the existing mall is easy to develop a new business model. The financial services of enterprises is an obvious scenario. In the past, the funding side (banks) often obtained reliable data sources through "fair third parties" to allow high-quality enterprises to finance. For example, when a small and medium-sized enterprise applies for a loan from a bank, the bank cannot trust the transaction records of all small and medium-sized enterprises and will go to the joint credit reporting center for credit reporting; When dealing, multinational enterprises will also ask for and refer to the enterprise information collected by the company, all of which are looking for reliable data provided by "impartial third parties".
        If many enterprises import the alliance chain and upload the key information of transaction behavior under the old cooperation mode, because the data on the blockchain is "difficult to forge" and "tamper proof", the information has a certain reference value, which will certainly reduce the audit cost of the financial provider when borrowing. This is the most basic necessary condition to be met. In cross enterprise collaboration, there must be a lot of business intelligence information. First of all, we must ensure that data security is checked at all levels within the group, and then who has the authority to see what must also be satisfied. If this chain goes wrong, what risks will be exposed? For example, if the platform fails, will it affect goodwill? If it is related to financial services, how much compensation will it cause if hackers invade it? From the perspective of enterprises, we should reduce the uncertainty of various risks.
        It is difficult to achieve layers of data privacy on the public chain, which often needs to be combined with other mechanisms. For example, the second layer protocol, with a centralized server for encryption and decryption, or only using data encryption and uplink. In particular, major updates, hard forks, or heavy traffic jams in transactions that may occur on the public chain and fuel costs for each transaction are "uncontrollable risks" for enterprises. Whether hyperledger, J Both the quorum of pmorgan and the corda of R3 need to meet the above requirements of "data privacy" and "risk control". Because the alliance chain is a licensing system, data is not disclosed except for members in the alliance.
        After enabling, the participants are entity companies, and the expansion speed of nodes and newly added nodes are predictable. It is not necessary to prevent many malicious attacks like the public chain. Moreover, even if there are evil nodes, there will also be real-life governance (kicking out members) to prevent evil from happening. In case of any disaster, there is a last resort. Closing all nodes can block the risk. Standing on the implementation side, there are the following considerations:. Cost and benefit: the cost of input (including maintenance costs) and the benefits obtained are also important considerations. Blockchain technology is a very new knowledge. Enterprises need to deploy a complete and capable team from scratch. The cost is quite high, and it is by no means possible in a short time.
        Generally, only by cooperating with external manufacturers, such as IBM, SAP or BSOs, and other domestic blockchain technology companies, can they implement more efficiently. Project Mastery: blockchain technology is changing with each passing day. It is necessary to have cross domain communication between the business side and the technology side, coupled with continuous learning talents to control, in order to immediately grasp the situation and maximize benefits. Process integration: not every user needs to understand blockchain technology, just like you can listen to music with Bluetooth headset, but you don't need to understand the principle of Bluetooth technology. To simplify the concept of difficult blockchain, we must reform it without affecting the original business process, so as to improve the success rate.
        If UX (userexperience) is not well designed, it will also greatly increase the communication cost. Especially when there are many roles across enterprises, departments and participants, the impact of design errors will be magnified several times. The poor design of several links is likely to cause the failure of the whole import plan. Blockchain technology is not a single point technology breakthrough, but requires multiple enterprises to jump in and play together in order to create greater value. Therefore, a large enough enterprise has the advantages of capital and partners, making medium and long-term investment and long-term layout of a wider range of partners. No matter which development direction, applications will affect the "bottom" design, and the bottom will also support the vigorous development of more applications.
        The existing bottom layer is usually designed according to the last required application. If we want to expect the blockchain revolution to come faster, we must give full play to the advantages of public chain and alliance chain at the same time. While the public chain is busy solving efficiency problems, it may be possible to precipitate more mature solutions in the alliance chain in dealing with data privacy. Therefore, public chain and alliance chain are two important weapons. If they are promoted separately, it will be conducive to promoting the implementation of the overall blockchain industry.
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