Recently, the concept of block chain's stock price soared. Domestic financial institutions, Internet companies, IT companies and manufacturers are actively investing in the rapidly block chain technology development and application development momentum. Application block chain of almost every day a new development, which is the financial sector, particularly the banking sector had a profound impact.
Block chain technology to support simultaneous access to distributed multi-ledger, and the block chain is secure and tamper-resistant. Encryption technology as the basis for monetary http://www.gendan5.com/digitalcurrency/btc.html, the block chain was being questioned banking industry. However, this position has recently undergone great changes. Block chain has become the most popular and innovative technology banking.
First, trade finance
trade finance is still largely dependent on paper-based bill of lading or letters of credit, which are delivered to users around the world via fax or mail. Block chain is an important solution, especially the need to obtain the same information in order to meet a lot of interesting aspects.
R3 block chain Alliance Leader Charlie Cooper said: "Trade finance is the most unique block chain technology areas, based fax transmission is obsolete." Several start-ups are working to process digital bill of lading, such as Israel the Wave, Malta and the United Kingdom EssDocs Bolero. It is estimated that the entire transaction ecosystem of digital still take five years, but the technology has the potential to block chain "real game-changer."
Second, the identity
of customers and counterparties of verification is critical to the banking sector. Without such help, the bank will soon lose its role as a trusted guardian of the people's money. Regulators require banks to check customers are not criminals or illegal conduct. Over the years, the bank has been working to build a shared digital tools to record the identity of their clients and enable them to stay up to date, but they have not found the right solution. Because of the ability to block chain encryption technology and shared with multiple parties constantly updated record, some people think that block chain can provide the perfect solution for authentication.
Block chain technology has enormous potential in the field of identification. Recently, the United Nations and Microsoft to provide a block chain identity system for refugees and other people without identity documents. Both sides said the "Apply block chain in KYC / AML field can be foreseen. Compliance costs associated with traditional banking sector is very high, very difficult global dozens of startups are building blocks chain identification system, including Cambridge block chain, tradle, credits and Blockstack. authentication is the core R3 block chain union construction Corda system. the alliance said that identity is a core component of the system. If the identity problem can not be resolved, then the block chain It will not work in any application.
Third, syndicated loans
, when an American company to raise funds through syndicated loans, trading an average of 19 days to complete. when a loan changed hands between the banks or borrowers, most of the exchanges still . is carried out by fax Emmanuel Aidoo credit Suisse block chain president, he said: "this is an area where lack of innovation."
Credit Suisse and other financial institutions 19 alliance, cooperation and technology company Synaps, based on the test block chain technology syndicated loans. Credit Suisse said that this is the perfect tool for managing the life cycle of the loan, and said the alliance is expected next year will complete a two loans on the block chain platform. The key challenge is to find a unique way to connect the block chain platform that can respond quickly in different systems.