More blockchain technology and application classification:
Blockchain application blockchain development economic and financial business
Ethernet Square | Fabric | BCOS | cryptography | consensus algorithm | bitcoin | Other chain
Token Economy | Traditional Financial Scenarios | Decentralized Finance | Anti-counterfeiting Traceability | Data Sharing | Trusted Deposit
The architecture scheme is shown in the figure:
- Equity registration module. It includes functional sub-modules such as transaction data on-chain service, negative list service for investors and project parties, and due diligence service for investment objects.
- Valuation module. Including equity fund management sub-module, investment project income and risk prediction sub-module, and investment object cash flow management sub-module on the platform.
- Issuing and trading modules. Including project monitoring sub-module, clause management sub-module and value-added service sub-module.
- Exit the module. The blockchain equity trading platform can be used to list and transfer the equity issued by small, medium and micro enterprises, and it also includes the equity change management sub-module.
- Supervision module. Including the information disclosure sub-module, which is mainly responsible for real-time disclosure of information on major matters such as capital structure changes, major project changes, personnel changes, product line changes, market value changes, etc. of the investment target, and includes the compliance management sub-module and investment target information Record management sub-module.
6. Risk control module. It includes the four main sub-modules of risk assessment, early warning, identification, and hedging, as well as the risk big data management sub-module. As technology upgrades, the functions of these modules will be updated in real time.
- Clearing and settlement module. Use the network batch instruction sub-module to realize the front desk centralized clearing and settlement function and the automatic transfer function of account books.
- The voting function module for shareholders (small and medium investors) based on blockchain technology. Including the application for digital certificate sub-module, login verification Internet voting system sub-module, voting sub-module, etc.
In addition, although the front-end display of the equity trading platform is also divided into transaction registration entry, smart contract entry, equity transaction information query and service appeal entry, etc., the mechanism behind it is based on blockchain technology, which improves the efficiency of these service ports To a level sufficient to satisfy both parties to the transaction. Finally, the docking of this system with external business interfaces is realized through the audit module, the intelligent risk control module, the tax control module, and the operation and maintenance module.
| Comparison item | Blockchain equity trading | Traditional equity transactions |
| Equity transaction registration | Ensure the effectiveness of qualification review | High cost and low efficiency of qualification review |
| Due diligence of investment objects | The business, financial, and legal due diligence data are relatively complete and accurate, and the procedures are relatively simple | Can not guarantee the accuracy of the data, and the procedures are cumbersome |
| Time required for transaction confirmation | Within 10 minutes | 3 days |
| Valuation of investment target | Avoid false information to the greatest extent, and there is no problem of insufficient professional qualification of valuation nodes | Problems such as false information and insufficient professional qualifications of valuation nodes cannot be eliminated |
| Ensure the integrity and safety of funds | The security and integrity of the fund data on the chain can be fundamentally guaranteed, and no credit risk will occur | Fund managers and fund custodians need to establish special internal management mechanisms |
| On the execution of equity transaction contracts | Rely on the automatic execution of smart contracts, without the need for third-party agencies to supervise the execution, save labor costs, and improve execution efficiency and accuracy | Need to cooperate with a third party to supervise the implementation, which is costly |
| Liquidity of equity | Able to ensure sufficient liquidity | Can not guarantee sufficient liquidity |
| Tracking and monitoring of investment projects | Real-time tracking, real-time monitoring | Cannot track and monitor in real time |
| Transaction process | Realize financial disintermediation | There are many links and it takes a long time |
| Equity transaction clearing and settlement | Realize unified clearing and settlement through network batch instructions | There are bottlenecks in the accurate control of project assets, debts and property status data |
| Voting for equity investors | Low voting threshold, small and medium investors have the right to know, simple notarization procedures, and high credibility | No comparative advantage |
references:
- Ping An Securities Co., Ltd. Nanjing Audit University Jinzheng Technology Co., Ltd. Joint Research Group, Qian Qiuming. Application of Intelligent Blockchain in OTC Market Operation and Operational Risk Prevention [C]. Innovation and Development: China Securities Industry 2018 Annual Proceedings (Volume 2).: Securities Industry Association of China, 2019: 430-449.
- Yu Kang. Research on the OTC Market and Its System Design in my country[D]. Huazhong University of Science and Technology, 2014.
- Xing Xi. Research on the Development Model of my country's Equity Exchange Center[D]. Capital University of Economics and Business, 2015.
- Wang Jinsong,Han Caizhen,Han Keyong.The application of blockchain technology in my country's equity transactions[J].China Circulation Economy,2018,32(02):83-90.
- Yang Yuebin,Li Zihan,Lai Xiaoqin,Huang Huiqiong,Deng Hangfeng,Lin Furong,Wang Wenjie.Research on the construction of equity trading platform based on blockchain technology[J].Tax Pay,2019,13(05):152-153.
Original link: A blockchain-based OTC trading platform