Chinanews.com client Beijing, April 14 (Peng Jingru) "China Blockchain Financial Application and Development Research Report (2020)" issued by the China Internet Finance Association on the 14th (hereinafter referred to as the "Report" believes that blockchain The development of integration with finance is still at a relatively preliminary stage.
Data Map: Chongqing Blockchain Industry Innovation Base. Photo by Xie Peng
The "Report" mentioned that the integrated development of blockchain and finance also faces some practical challenges in terms of technological maturity, independent innovation, scenario fit, and system rules. However, the "Report" also pointed out that blockchain technology is in the process of accelerating its evolution and maturity, and its application exploration in the global financial field is increasing day by day. The financial management departments of major countries and regions have a positive and rational attitude towards their application.
According to the report, China has a good foundation in the field of blockchain, technology research and development, standard development, ecological cultivation, industry management and other work are progressing in an orderly manner. The application scenarios and application logic of blockchain technology in the financial field have been relatively clear, and related application exploration Gradually, the landing scenarios and practical cases are constantly enriched, mainly showing the following characteristics:
First, there are many application explorations, which are closely integrated with business needs. The blockchain application scenarios of research institutions mainly involve supply chain finance, trade finance, insurance technology, cross-border payment, asset securitization, etc., accounting for 32.6%, 11.2%, 11.2%, 7.9%, and 6.7%, respectively.
The second is the diversification of participants, and the path of exploration is different. The filing status of the Blockchain Information Service of the State Cyberspace Administration of China shows that the number of filing entities involved in the financial sector accounts for more than 40%, and the types involve financial technology service providers, banks, fund companies, insurance companies, microfinance companies, and commercial factoring companies. Etc., showing more obvious characteristics of diversification.
The third is to strengthen the research and development of the underlying technology, and generally pay attention to information security and performance breakthrough innovation. About 40% of the research institutes stated that they adopted the self-developed bottom platform. Among the 11 organizations that have adopted the self-developed underlying platform in key research and analysis, nearly half of the platforms have been open sourced or partly open source planned, and most platforms have supported transaction processing speeds of thousands per second. More than half of the platforms can be implemented in specific experimental environments. With a transaction processing speed of tens of thousands per second, performance has weakened the application constraints in some financial scenarios.
The "Report" believes that the application of blockchain in China's financial field has already begun to take shape, and some proof-of-concept applications have spawned commercial products of a certain scale. In supply chain finance, trade finance, insurance technology, cross-border payment, and asset securitization Some landing cases have been formed.
For example, the People ’s Bank of China Digital Currency Research Institute and the People ’s Bank of China Shenzhen Center branch took the lead and built a trade finance platform based on blockchain technology. As of August 2019, nearly 30 banks had more than 500 outlets running on the chain. The business volume exceeds 50 billion RMB, which effectively improves the efficiency of trade financing.
Citing the research data of the China Institute of Information and Communications, the "Report" pointed out that as of the end of August 2019, the scale of blockchain investment and financing transactions in 2019 reached US $ 2.028 billion. The United States, China, South Korea, Switzerland and Canada are the global blockchain investment and financing amounts The top 5 countries. (Finish)