Block chain technology on the outlet will decide on what path to follow
In the traditional financial industry upgrade today, block chain technology, as the underlying technology once were impatient 1:00 bitcoin, began to enter into public view. Block chain technology blew up a small whirlwind in the financial industry, the industry of the attention and discussion significantly more than other industries. All areas want to catch this carriage, general manager of Hang Seng Electronic Research Center Zhang Leyan blockchain will lead the financial industry where expressed their views.
In the banking industry, securities industry, we have gone from decentralized system to centralized system architecture transformation, rapid innovation and development of supporting financial services, especially in recent years, the Internet technology to the financial industry with great change, like the balance of treasure, not only make a name not passed by the fund company when more banking elephants suddenly feel intensely subverted. The recent stir the block chain technology to the financial industry heavyweight debut game player have position, how much is out of fear of technology innovation.
In recent years, the block chain technology in the financial industry, the explosion of red, pay close attention to the discussion of the industry significantly beyond the pure IT circles. Whether it is from the major financial institutions to the central bank, or “economics” to various financial forum and so on, it seems that each field wants to catch the carriage block chain.
Many companies are looking for technical support to establish proof of concept, is that some block chain will become the next outlet, or to help them to study the Hang Seng an application scenario from the formation of the internal interest of the blockchain small team; some companies are looking for a budget to come up with some corners of the business to do some look try block chain project.
Last month, the blockchain report released by the world economic forum shows: the world has discussed more than 90 central banks involved in the block chain, bank forecasts 80% will carry out the blockchain project in 2017, the past three years, more than 1 billion 400 million dollars to block chain investment, 2500 patents have been applied for.
In August 24th, R3 (World Union’s top financial block chain) after many well-known financial institutions together through the validation of blockchain financial industry for nearly a year, Corda released project technology white paper on its official blog, describing the financial institutions need to block chain technology, what kind of vision, and R3Corda platform, there is no claim block chain platform can match the financial demand.
But R3 believes that through the establishment and improvement of the sharing platform of a record of financial affairs and business logic, for financial organizations (especially including but not limited to post trade clearing and settlement scene) economic ties to create conditions: an authoritative record of all agreements between enterprises only global logic books, this architecture will the industry establish a new sharing platform, on the platform, the new entrants and the third party can compete to launch innovative products and services.
Hang Seng as the industry to the study of block chain technology is leading Fintech, see the IT system of the financial industry has experienced several decades of rapid development, more and more institutions for the overall construction of “business collaboration brings the trusted sharing books” demand, and reconstruction of infrastructure this kind of significance of reducing the cost of doing business also, see the successful operation in the public network bitcoin block chain application lasted for 8 years, and the key technology of building this infrastructure such as encryption technology, network communication technology, distributed scene high credible consistency and mature consensus algorithm.
At the same time, block chain platform popular (distributed shared technology books) have created a technology makes the financial industry in strong supervision can be discussed in public environment, a variety of cooperative alliance established a number of financial institutions and IT company to promote and construction related application system. Whether the blockchain platform of financial institutions need what kind of block chain technology, the existing open and opened to the public to meet the high standards of financial institutions in the framework of enterprise application technology and so on, these are all we need to answer.
In the industry for the domestic financial industry is suitable for block chain technology (or distributed shared books Technology) to explore and analyze the various business scene, block chain as a kind of widespread attention and the rapid development of innovative technology, recently, from the nature of the blockchain “trust machine” as the application of cut, has shown more extensive application prospects.
But in the long term, we believe that the block chain enterprise financial technology can be achieved in the legal framework, to fully protect the interests of all parties involved in the business, a clear business error correction code error correction mechanism and contract upgrade mechanism, in order to solve the block chain can not be tampered with contradiction to correct technology. And support multi chain extensible system architecture to solve the inherent constraints block chain in performance and data visibility etc.. Open source code for a trusted system to the center is just need to give full play to the block chain as the infrastructure of global exhibition industry characteristics to ensure open standards. So, as R3 said, although the blockchain platform industry at this stage there is no ready-made suitable financial needs, but the Hang Seng has the responsibility and ability to provide basic technical platform for this industry.