Ethereum Foundation officially releases soft fork update to freeze stolen DAO funds

The 2016 International Blockchain Summit was held as scheduled in Beijing, China, and Bankledger was invited to attend the conference. The conference was brilliant, bringing together technical experts from global financial institutions, practitioners and celebrities in the blockchain industry, blockchain technology enthusiasts and investors.

Dr. Shentu Qingchun, CEO of Bankledger, served as the host of Session B on June 24 and delivered an important speech entitled "Blockchain Privacy Protection and Compliance" in response to the privacy and compliance issues that are of great concern to the blockchain industry.

Bankledger team appeared at the International Blockchain Summit

Shentu Qingchun delivered the opening speech and introduced the guests

Shentu Qingchun delivered a speech on "Blockchain Personal Privacy Protection and Compliance"

Dr. Shentu pointed out that Bitcoin cannot protect personal privacy. (1) When exchanging Bitcoin for legal currency, the real-name authentication of Bitcoin exchanges is an effective anti-anonymity measure, and the situation is similar for other Bitcoin service providers. (2) Bitcoin transactions are public, and only one address is needed to find the owner's other addresses and amounts. (3) The transaction summary input and change address will expose the owner's other addresses. (3) The Bitcoin communication protocol is not encrypted, and the correspondence between IP addresses and Bitcoin addresses can be found by protocol analysis software.

Dr. Shentu then proposed the need for privacy protection and compliance in the blockchain. (1) Address balances and historical transactions are not visible to others, but only to counterparties. (2) Transaction data between institutions and between institutions and users are not visible to other institutions. (3) Compliance requires real-name authentication, KYC and AML, so that transactions are linked to real names for easy auditing. Even if transactions are encrypted, they can be easily decrypted. Dr. Shentu also introduced a variety of privacy protection technologies, such as zcach, stealth address, ring signatures, perdesen commitment, blind signatures and other encryption and decryption technologies, to meet the above requirements.

Next, we will take IBM's fabric project as an example to illustrate the design of compliance and privacy protection. Fabric is the code contributed by IBM to Hyperledger. The design is relatively complete. The system architecture of fabric includes users, centralized user management servers, verification nodes, non-verification nodes, etc.; it adopts the PKI public key system to protect personal privacy and compliance.

Finally, Dr. Shentu Qingchun gave a brief introduction to Bankledger Silver Chain Technology and Golden Chain Alliance.

About Golden Alliance:

The members of the Golden Chain Alliance include seven categories: banks, funds, securities, equity, insurance, finance, and technology, of which financial institutions account for 70% and financial technology companies account for 30%. Currently, the Golden Chain Alliance is conducting research on 12 blockchain-related topics.

• Banks: WeBank, China Merchants Bank, Ping An Bank, Shandong City Commercial Bank Alliance, etc.;

• Funds: Bosera Fund, Southern Fund, etc.

• Securities: Guosen Securities, Essence Securities, First Capital Securities, China Merchants Securities, etc.;

• Equity: Qianhai Stock Exchange, Wuhan Stock Exchange Center, Qilu Stock Exchange, China Stock Group, Chongqing Stock Transfer, Shenzhen Stock Connect, etc.;

• Insurance: Qianhai Life Insurance, Huaan Property & Casualty Insurance, Fude Insurance, etc.

• Finance: China Securities Credit, JD Finance, Ping An Financial, etc.;

• Technology: Sifang Jingchuang, Yinlian Technology, Hengsheng Electronics, Jinzheng Technology, Huawei, Tencent, Yingshisheng, Zhiyuan Speedlink, etc.

During the Q&A session, Dr. Shentu answered questions from the audience

At the end of the meeting, Dr. Shentu Qingchun, as the host, announced the successful conclusion of the conference, and the veteran guests from the blockchain industry took a group photo.