Public Administration Vice President Ma Zhitao: Challenges and Opportunities for Block Chain Application from the Perspective of Banks


Reporter: pencil leadn

Recently, 2017 World Youth Entrepreneurship Forum before the sea station “WE THE FUTURE” theme forum ended in Shenzhen. More than 20 young entrepreneurs, angel investors, industry experts and business elites from more than 20 countries and regions attended the event. The forum will focus on a number of topics, including financial technology, block chain, technology industry park, innovation trends, angel investment, cultural creativity and the development of Hong Kong and Macao and the “area along the way” development and opportunities.n
nMr. Ma Zhitao, Vice President and Chief Information Officer of the Public Bank, was invited to attend the theme forum on “Rescuing the Economy and the World” and delivered a speech entitled “Challenges and Opportunities for Chain Chain Applications Based on Banking Perspectives”.n
nBlock chains are very technical components of business valuen
nMa Zhitao said that micro-public as an innovative Internet banking, positioning is different from the traditional banks, hoping to become a powerful connector and connection platform: the Internet business rich customer resources, strong channel capacity to connect; at the same time , Micro-public also with a large number of traditional financial institutions, their products, financial control capabilities, funds, etc., through the connection platform to provide micro-public partners.n

nTherefore, the public bank from the beginning to optimistic about the development potential of the block chain. Some of the properties of the block chain, including distributed architecture, consistency, consensus mechanism, encryption algorithm, etc., these features if each individual look, people will feel flat, but the combination of view, will find the district Block chain is indeed a very unique, able to produce a lot of business value of the technical components, such as the use of block chain to do distributed books, so that all participants can see the same data and so on.n
nIn the business practice to play the potential of the chain chainn
nAccording to Ma Zhitao introduction, micro-bank block chain exploration has four aspects: technically and Tencent cloud jointly developed the first financial alliance chain products; the scene to establish a micro-loan loan loan management and reconciliation platform, has access Three co-operative banks, the production environment in the application of data recorded in the number of millions of pen; micro-public also led the establishment of the establishment of financial sector chain alliance, covering banks, securities, exchanges, technology, insurance, funds and other industries 74 institutions; with the People’s Bank, Ministry of Industry and cooperation, participated in the development of ISO standards.n
nMa Zhitao that the current lack of block chain is a successful sample, not in order to use the block chain with the chain, should really solve the problems on the business, micro-public is currently doing is in the practice of the block chain The potential to really play out.n
nMicrobond Financial Services: A B C D Strategyn
nIn the speech, Ma Zhitao with ABCD four letters introduced the public bank’s financial technology services. A is AI (artificial intelligence), the public bank in AI have a lot of attempts, including customer service, 98% of the customer’s problems and even complaints may be through the robot reply; B is Blockchain (block chain) aspects of the attempt, C is Cloud (cloud computing), through the use of cloud computing and open source software, micro-public can reduce the operating costs of traditional banks 1/10 or lower level; D is Big Data (large data), micro-public through social behavior and trading behavior to determine the user’s credit rating, and then to credit.n
nBlock chain into the industry focusn
nForum on a number of block chain domain experts, scholars, business leaders, industry elite to explore the block chain in the application of technology and future development and many other topics. Participants agreed that the chain chain has attracted worldwide governments, finance, science and technology, investment and other sectors of widespread concern, it is not difficult to foresee, block chain is becoming the future industry outlet. The opportunities and challenges faced by the block chain technology in the multi-field application are coexisting. The association with the industry still needs a deeper and broad combination. Therefore, the industry needs to promote the development of the chain chain at home and abroad.n
nAll along, the public banks are very concerned about the application and development of block chain technology, the recent chain will also be officially launched the underlying platform open source plan, is committed to creating a multi-party cooperation in the depth of mutual trust, to further promote the distributed commercial ecosystem form.n

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