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Why is blockchain a value Internet?

Time : 16/01/2022 Author : 4fqmn2 Click : + -
        At present, the most popular concept abroad about the impact of technology on finance is fintech (Financial Technology), which refers to the changes and innovations in financial transaction means, transaction methods and material conditions in order to reduce financial transaction costs and improve financial transaction efficiency with the development of science and technology and management technology. Financial technology innovation is not only the material guarantee of improving financial efficiency, but also one of the internal driving forces of financial innovation. The impact of blockchain on finance, first of all, occurs gradually along the path of technological evolution. The development of information technology is also the basis of blockchain, and blockchain technology further promotes financial reform.
        Core financial infrastructure, mainly including payment system, central securities depository, securities settlement system, central counterparty and transaction database; Affiliated financial infrastructure, mainly including credit system, law, accounting, anti money laundering, information system, etc. If we use "decentralization" to cover the two concepts of decentralization and disintermediation, we can draw the following conclusion: in the foreseeable future, it may not be complete financial decentralization, but multi center and weak center. Now the market is talking more about "decentralization", and the final result is more likely to be multicenter, which weakens the rule out of control caused by the strong voice of a few centers, and blockchain can contain the "weakness" under the traditional "centralization" mode.
        The so-called shared finance is to build a financial model characterized by resource sharing, factor sharing and benefit sharing through technological means and financial product and service innovation supported by big data. Share the basic driving force of financial development, including technology (new information technology + new financial technology) and system (new formal rules + new informal rules). As a decentralized mechanism and credit consensus mechanism, blockchain helps to promote the continuous expansion of the mode of shared finance, and further realize the sharing and win-win development of resources at different levels of the entire existing financial industry chain. In countries around the world, the current decline in cash use ratio is indeed an indisputable fact.
        The root cause is that electronic payment and electronic money bring higher efficiency and lower cost. At present, the growth rate of non cash payment in China has ranked first in the world. Due to the rapid growth of the network economy and the sharp increase in the number of smart phone users, China has become a high growth region of mobile payment worldwide, and it is also a "hot land" for the practice of new payment technologies. Whether in developing or developed countries, emerging electronic payment can not only replace the payment function of paper money, but also rely on payment channels to solve the financial needs of vulnerable people. Driven by policy support and scientific and technological progress, it seems that the world is inevitably moving from cash to electronic payment, and new technologies are constantly changing the monetary and financial system.
        Higher transaction efficiency, lower cost, accurate policy implementation and more effective anti money laundering risk control can be perfectly achieved by using blockchain technology. In terms of capital market, some of the world's largest exchanges, banks and trading service companies have begun to explore how blockchain will change the settlement method of securities transactions. Blockchain can create an open and tamper proof transaction general ledger, which may replace and simplify many complex systems in securities trading. In addition to transaction settlement, blockchain can also be applied to the field of bills. With the help of blockchain, there is no need for a third party to supervise and verify the information transmitted by the value of both parties to the transaction, nor for a specific physical object to be used as a proof of trust between the two parties.
        In addition, blockchain relies on program algorithms to automatically record massive amounts of information and store it on every computer in the blockchain network. The information is transparent, difficult to tamper with and low-cost to use, which will contribute to the construction of the financial credit system. Blockchain has the characteristics of security, trust, more direct transaction and efficiency, which helps to increase the risk recording ability, transparency, accuracy and speed of the insurance market. In the next few years, blockchain technology will become the mainstream technology in the insurance industry ecosystem. At present, the development of blockchain technology is still in its early stage worldwide, and various technical solutions, application scenarios and business models need to be further explored and improved.
        And when you realize that technology is in front of you, it is actually far away from you. We need to pay attention to the huge challenges of blockchain and digital currency. In addition to the transformation of ideas, we also need to pay enough attention and more investment to strengthen the training of blockchain professional and technical personnel, the expansion of application technology, and the implementation of practical projects.
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