Blockchain technology has advantages and has broad application prospects in financial payment

Recently, many mainstream institutions have intensively released blockchain technology reports, believing that blockchain technology is of great significance to information security and digital currency. Compared with the centralized model, blockchain can solve the problem of credit authentication more quickly, effectively and at a lower cost. Currently, international giants such as Microsoft and Goldman Sachs are actively deploying blockchain. In addition, China's central bank stated at a seminar held in January that it will strive to launch a digital currency issued by the central bank as soon as possible. As an important supporting technology, blockchain is expected to take the lead in making breakthroughs in application scenarios such as financial payment and realize the flow of value on the Internet .

Blockchain is a data structure composed of data blocks in a chronological order and in a chain. Cryptography is used to ensure that the data structure cannot be tampered with or forged. It can be used in scenarios where nodes do not trust each other. The biggest feature of blockchain is decentralization and trustlessness. It is suitable for virtual commodity applications, such as securities issuance and trading, and areas without inventory systems.

The central bank is currently studying digital currency and blockchain technology. Since 2014, a special research team has been established and has achieved phased results. With the development of information technology and the evolution of technologies such as mobile Internet , trusted and controllable cloud computing, terminal security storage and blockchain, payment methods have undergone tremendous changes worldwide. The development of digital currency is bringing new opportunities and challenges to the central bank's currency issuance and monetary policy. At the same time, issuing digital currency can reduce the high cost of issuing and circulating traditional paper currency, improve the convenience and transparency of economic transaction activities, enhance the central bank's control over money supply and circulation, and help achieve inclusive finance. The central bank has clearly required that key technologies be tackled, multi-scenario applications of digital currency be studied, and the digital currency issued by the central bank be launched as soon as possible.

Many large banks and investment banks in the world have conducted a series of explorations on blockchain, including setting up internal blockchain laboratories, investing in financial technology startups, or cooperating with startups. Among them, 42 top international banks such as JPMorgan Chase and Goldman Sachs have formed the world's largest blockchain alliance R3, which is committed to building an open source, universal shared ledger blockchain alliance. The rapidly developing payment network Ripple can effectively reduce the cost of cross-border currency payments. In addition, Nasdaq officially launched the blockchain platform NasdaqLinq in October last year. Issuers who issue shares through Nasdaq Linq will enjoy digital ownership.

Considering the strong promotion by governments and the development of blockchain technology, the industry will usher in a period of rapid development. Previously, Zhou Xiaochuan, governor of the central bank , said that the issuance and operation of digital currency should still be based on the binary system, with blockchain as an optional technology, and in-depth research on related technologies such as trusted and controllable cloud computing and cryptographic algorithms.

From the characteristics of blockchain and the nature of financial transactions, financial fields such as cross-border payments, property rights notarization, asset transactions and liquidation are expected to make breakthroughs first, and then spread to other industries. According to the latest developments of Interactive Easy, relevant companies with application scenarios are actively reserving blockchain technology for research and development.

Specifically, Yuyin Co., Ltd. ( 002177 , Stock Bar ) is mainly engaged in the sales and operation of ATM products. The company stated on the Interactive Easy on the 13th that blockchain technology has attracted widespread attention due to its recent application in the Internet finance and payment industries. It is currently organizing a team to conduct research, hoping to use the application opportunities of blockchain technology in the fields of information security and identity recognition to improve the safety and efficiency of products. Xin Guodu ( 300130 , Stock Bar ) is mainly engaged in the sales of POS machines. The company stated that the central bank is currently in the discussion stage for the issue of digital currency, and has not yet clarified the implementation method. The company is determined to keep up with the pace of the policy era. In addition, companies such as China UnionPay ( 002152 , Stock Bar ), Feitian Chengxin ( 300386 , Stock Bar ) and Weishitong ( 002268 , Stock Bar ) have also stated on the Interactive Easy platform that they are conducting research and development of blockchain-related technologies and businesses.