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The English abbreviation of blockchain currency, the unlimited application scenario of blockchain: only unexpected but not impossible?

Time : 09/05/2022 Author : oqfx1h Click : + -
        For a time, the prospect of digital currency seems to be seriously questioned. The Chinese government prohibits the use of bitcoin and other online currency transactions. At least at this stage, J.P. Morgan CEO Jamie Dimon even categorically claims that bitcoin is a blatant fraud. The debate continues & mdash& mdash; The International Monetary Fund (IMF) advocates deep and serious thinking on virtual currencies, rather than killing them with sticks. The RBA is also closely watching the rise of digital currencies. On Friday, Tony middot, head of payment policy at the Bank of Australia; Richards said that the blockchain technology behind bitcoin "may be widely used in the financial industry and many other industries".
        Whether it is for or against it, although there is a great controversy, so far, no official has banned it as financial fraud. At the same time, the distributed ledger Technology (DLT) behind bitcoin, also known as the blockchain technology, as the foundation of bitcoin, a virtual currency, is receiving more and more attention. Greater interest. Distributed ledger Technology (DLT) replaces the verification and authorization chain previously completed through the banking system or other high trust operating systems. It is essentially a network composed of encrypted computers, in which important information is publicly visible and cannot be tampered with at will. Satoshi Nakamoto, the creator of bitcoin, is still mysterious and may not even exist.
        However, the bitcoin he created made headlines from time to time, and the blockchain technology is being accepted by the financial investment market at an amazing speed. Axelweber, chairman of UBS, regards blockchain as the cornerstone of future international art investment. In his opinion, assets such as art, luxury cards and precious stones are subject to subjective influence, which is the abbreviation of blockchain currency, and the price is easy to fluctuate. Blockchain solves this problem. By keeping a reliable source record of blockchain currency abbreviations, these assets will become more easily accepted by banks and more worthy of investment. Weber said yes. Cornell pointed out that health care is another new field that the blockchain has bravely entered, and it will not be the last one.
        According to the analysis data of cbinsights, the medical and pharmaceutical industry has taken the lead in trying blockchain technology in such aspects as medical record exchange, data security, patient medical expense reimbursement, hospital subsidies, and drug supply chain management. IBM Watson has reached an agreement with the US Food and drug administration to conduct a feasibility study on the possibility of using blockchain technology to provide more accurate patient data. The patient data here includes electronic medical records, clinical trials, fund data and tumor data in the form of big health data from mobile devices, wearable devices and the Internet of things. In terms of medical data, many attempts to apply blockchain have begun to appear around the world.
        The hypermedicalledger blockchain project of leiying technology supported by the national medical authority uses the blockchain technology to securely store personal medical history data, and uses the private key to ensure the management rights of the data owner., So that health care service providers can safely share and count patient data, so that patients can truly control their own data. In addition, blockchain technology will also play a role in drug anti-counterfeiting, medical expense payment and other links. "The application scenarios of blockchain seem to be infinite, only unexpected and impossible, especially when selling projects to venture investors.". Cbinsights recently released a report entitled "the banking industry is just the beginning: the blockchain of 30 industries may be revolutionized", covering everything from network security to election voting.
        Entrepreneurs began to believe that blockchain can change more industries. Transparent and verifiable registration of transaction data using blockchain is almost endless. Blockchain can not only be used to prevent fraud, but also operates through a decentralized platform without any "central" supervision. Financial services are still the most widely and deeply penetrated field of blockchain technology, especially in inter-bank payment and information exchange. Singapore is one step ahead in distributed ledger and virtual currency. The monetary authority of Singapore (MAS) and the association of banks of Singapore (ABS) recently announced that their joint venture has successfully developed software prototypes for three different models for inter-bank payment and liquidity clearing.
        Australia's ANZ bank is also involved in at least six projects. According to Bluenotes, the cooperation between ANZ and Wells Fargo includes an initiative to simplify cross-border payment, and the results have been submitted to the global banking financial Telecommunications Association (Swift), which will benefit all banks subsequently; Cooperate with Westpac and IBM, and cooperate with the real estate management agency scentregroup to provide solutions for commercial lease holders to replace paper bank guarantees; Participate in a project in New Zealand to improve the efficiency of data use in the insurance industry; Cooperate with another US bank to share cross-border payment related information.
        Leigh Mahoney, head of ANZ bulk digital transformation department, believes that with the deepening understanding of blockchain, more and more projects are entering the trial and testing stage. There are three keys to the success of blockchain projects: 1. It must be able to clearly express the problems to be solved; 2. These problems should be focused and profound, not superficial and general; 3. There is a reliable relationship between the transaction demands of independent parties. Mahoney pointed out that many blockchain venture capital projects have ideas on how to achieve commercialization and income generation, and the productivity improvement and information transparency brought by such projects are the key to success.
        At the recent round table of the "official monetary and financial institutions" forum, Carl ludwigthiele, member of the Executive Board of the Bundesbank, pointed out:. "For us, the most important contribution of bitcoin is the blockchain technology behind it, or more broadly, distributed ledger Technology (DLT).". The Bundesbank is involved in the development and operation of important payment and settlement systems, usually in cooperation with other central banks. In this context, we focus on exploring innovative technological capabilities to improve stability and efficiency;. The Bundesbank is the catalyst to promote the improvement of payment business and settlement structure. The more you understand the actual impact of new technologies or processes, the better you can protect stability and improve the efficiency of payment and settlement systems;.
        The Bundesbank also monitors the stability of the system and the operation of payment and settlement instruments, and tests the advantages and disadvantages of the most advanced technologies. This is why we, like other central banks around the world, have done a lot of thinking about DLT. Thiel also emphasized that blockchain is a double-edged sword, not only because it is relatively new, on the one hand, it can destroy existing businesses, on the other hand, it can greatly improve efficiency. He said yes. "Distributed data storage means that DLT can simplify the reconciliation process associated with complex worksharing value-added chains. In a sense, DLT is considered to be quite disruptive because it allows transactions to proceed directly without intermediaries.
        Potential. ". However, Thiel warned that this disruptive potential has caused financial institutions to panic and they are more willing to find opportunities, but this is not a welcome relief for other industries. Because whether it is the customer loyalty program of the retail industry or the maintenance of labor-intensive and highly differentiated government and public records, distributed ledger technology aims to "break the bottom line" and try to replace the most fundamental things & mdash& mdash; The connection between people and things. Trust relationship. In the past, organizations and their ability to protect information, financial or other information provided reasonable legitimacy for acting as intermediaries to earn income.
        Now, Cornell adds: Yes.
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