After years of development, blockchain technology has developed rapidly, not only in the field of digital currency, but has expanded its unique application value in many other aspects, and has shown the potential to reshape all aspects of society and how it operates.
According to Melanie Swan, founder of the Blockchain Science Institute, the existing and future innovations brought about by blockchain technology are mainly divided into three categories: blockchain 1.0, 2.0 and 3.0.
1.0 corresponds to digital currency. Mainly related to cash, including currency transfer, exchange and payment systems, etc., the most familiar to us is the programmable currency represented by Bitcoin. 2.0 corresponds to smart contracts. Mainly used in the economic, market, financial fields, etc., but its scope of extension is wider than simple cash transfer, and can be extended to such as stocks, bonds, futures, loans, mortgages, property rights, etc., it may affect not only contract law , and may also affect some social contracts. 3.0 corresponds to applications beyond currency, finance, and markets.
Mainly used in the fields of government, health, science, culture and art.
At the application level, the three advantages of blockchain, security, transparency and efficiency, make it particularly helpful to regulate the development of Internet finance, as well as promote the popularization and innovation of the Internet of Things and the sharing economy.
The financial field is an important application field of blockchain technology. The use of blockchain will eliminate the need to provide information such as bank account, citizenship certificate, birth certificate, home address, stable local currency, etc., which can greatly reduce the cost of fund transmission such as remittance, and reduce bank account opening, credit acquisition, investment, etc. threshold. In the capital market, the use of distributed databases and smart contracts can also significantly reduce manual reconciliation work, saving costs for financial institutions. The blockchain in the financial field has the following 6 application scenarios and market segments: digital currency transfer, payment, lending; cross-border payment and settlement; central bank issuance of digital currency; securities issuance and trading; supply chain or trade finance; anti-money laundering and get to know customers.
Blockchain is also being used in food traceability. From production and processing to logistics and transportation, from supermarkets and department stores to people's dining tables, food has to go through many links. Out of the pursuit of interests, it is very easy to tamper with food production date, origin, growth process and other information in the middle. , so that the safety of food cannot be guaranteed. Such situations can be avoided by using the tamper resistance and transparency of blockchain technology.
Blockchain can also be used in the field of anti-counterfeiting. Using blockchain for anti-counterfeiting is more effective than the traditional way of using anti-counterfeiting trademarks.
In addition, election voting and academic certificates also have examples of using blockchain technology.