The domestic commercial bank has taken up the banner of chain block
Block chain as a financial field of “new concept” is attracting the influx of major financial institutions like a swarm of bees of the technology on the tide.
In a research report pointed out that the blockchain technique is the second after the steam engine, electricity, information and Internet technology, the core technology has the potential to trigger the fifth round of subversive revolution. In order to keep up with the latest wave of the world’s financial institutions are actively involved in research and development in the block chain to strive for the initiative in competition.
With large foreign financial institutions to actively formed block chain alliance phenomenon is different, the blockchain seems always in our country since the only Internet financial institutions favorable target, large financial institutions in the traditional banking industry as the representative of which is not too cold. However, the recent development trend is that the slow response of the commercial banks began to pay close attention to the layout of the chain block technology, as a block chain in the field of catch up from behind, the commercial bank has taken a crucial step forward. Recently, China in block chain technology is a major advocate of the identity of the countries in the world.
According to reports, China Merchants Bank China became the first block chain for direct cross-border cash management, bank account management and unified settlement.
China Merchants Bank recently realized the cross-border application block chain technology in global cash management in the field of direct liquidation, global account unified view and cross-border capital accumulation of the three big scene. Of the China Merchants Bank, the successful application of block chain in its business in solving the problem settled branches in different regions. By this technique, branches can realize information sharing, to meet any of the two branches of the settlement demand.
Block chain is committed to achieve in all transactions to the center, to trust, when applied to the financial sector, which will be anonymous, do not tamper with the characteristics of solving trust problems in the course of financial transactions, make transactions more transparent and fair. At present, the new chain system of China Merchants Bank has shown its effectiveness. The decentralized system of information transmission time from the usual 6 minutes down to 6 seconds, at the same time, because the information is recorded in a closed private block chain, to avoid any information being tampered with, so as to guarantee the security of information. In addition, it also has high stability, failure of any node will not affect the operation of the network, and scalability to protect the new members can quickly add to the entire network system.
China Merchants Bank is one of the domestic commercial banks to actively explore the application of block chain technology. Last September, China formally joined the China block chain, become Chinese financial institutions after Chinese peace and AIA Hongkong third to join the alliance. Just a few months before joining the R3, China Merchants Bank Chinese joined the Shenzhen financial chain alliance China block.
At the end of 2015, the Internet financial technology company R3CEV has gathered 42 formed a well-known bank alliance, is committed to research and found that the application block chain technology in the financial industry in the. JP Morgan chase and Goldman Sachs and other financial institutions to join Star makes R3 become the industry’s most high-profile block chain alliance. After becoming the financial sector “in the application of the blockchain, more and more financial institutions hope that through cooperation with R3, improve financial services.
After China Merchants Bank, Minsheng Bank Chinese foreign exchange center and also before and after joined the R3 block chain alliance, hoping to explore each other in application of distributed technology in the financial market of books. In addition, domestic financial institutions have their own chain alliance — Chinese block distributed ledger protocol based Alliance (ChinaLedger), China blockchain Research Alliance (CBRA), chain alliance.
Members of the ChinaLedger alliance by the card in the inter agency quotation system of Limited by Share Ltd, Zhejiang equity trading center, LETV, universal financial laboratory block chain of eleven units, while the universal blockchain lab is the ChinaLedger alliance secretariat. In August 2015, Chinese universal holdings was founded by the universal blockchain laboratory, become the research institutions Chinese first committed to promoting the practical application of the technology of the chain block.
Chinese block chain research alliance by global financial forum (GSF100) shared 100 set up, one of its promoters is universal financial. The chain alliance by the Jingdong finance, micro public bank and other 25 units jointly initiated the establishment, focusing on block chain applications in the financial sector, Tencent, HUAWEI and other 6 institutions as members join.
At present, the government itself in promoting the application of block chain and international cooperation has brought a great influence. Last month, the people’s Bank of Chinese completed a series of experiments of digital currency to block chain technology based on the. Participate in the testing of digital system of commercial banks including the ICBC and Internet Bank micro public bank.
The rapid development of the blockchain made the government and traditional banks are no longer willing to do only a spectator, not seize the initiative in competition will face the risk of being eliminated, in this wave of new wave of technological innovation, the traditional banking industry if not to become beneficiaries of technology, will become the subversion of the party. When the Internet Finance in a step like eating market share of the bank, this concern completely be not at all surprising.