In the Chinese financial system, after a period of exploration, the attitude of regulators block chain has shown a clear policy tone: On the one hand, they resolutely crack down in the name of virtual currency, currency, and for the first time encryption token release (ICO) of illegal fund-raising activities carried out. On the other hand, it confirms the potential of the block chain technology as a new technology, and to encourage and regulate the development of block chain technology. Then, in the policy-driven financial institutions and expectations in the context of their own decisions, block chain technology can finance what brings value achieved through technical means, it is a question we need to explore further.
First, to strengthen the relationship of trust by the "self-identification" to "other identity"
Financial business development is inseparable from the understanding of the economic and social micro-entities. During the survey, the most common method is to collect written material. For example, when a financial institution approved by the company's credit, it needs to know the business income and operating cash flow. In the current business model, financial institutions collected from the enterprise financial statements, orders, contracts, invoices, bills of lading, banking processes and other information, then use this information to verify the information in the financial statements.
But in fact, the financial statements and supporting materials are provided by loan applicants, that is, the loan applicant needs to provide a range of evidence to prove his innocence. This is what we call "self-evident." Thus, in the self-certification business model, financial institutions need to check the authenticity of the materials before checking financial statements, so that the operational costs and risks remain high.
Application block chain technology can completely change the business model. Dispersing book block chain participant synchronizing service data for each service (hereinafter referred to as "uplink data"), the general rule set up data, i.e. an uplink for data traffic source, responsible for the authenticity of the data. For example, the order data uploaded by the buyer, the invoice data is uploaded by the seller, freight data uploaded by the logistics companies, banks tap water by the bank uploading. After these data sources in the chain, this data may be automatically cross-validation.
We focus on the task to verify the above financial statements. Verify normal business income in the financial statements for the verification task can eventually break down the revenue from each sale. When financial institutions need to verify the transaction revenue, they can cross-verify directly with the order, the invoice amount of water and. In addition, they can also participate in cross-validation, the unit price multiplied by the number on the invoice and shipment data of goods.
Second, to achieve win-win eco ecological integration across
each block chain network can be considered a sub-ecosystem. These sub-ecosystems is generally limited range of business and areas, but they are not independent, but interact with other sub-ecosystems, higher final fused into a larger ecosystem. Ecological Integration above can be cross-linked block chain technology implementation, thus opening up the underlying data, more meaningful data catalytic applications. For example, the domestic business market regulation and supply chain finance business will eventually be integrated into the domestic trade.
The interaction between them can bring greater value to both the business and can even explain a financial institution can solve other technological means can not solve the problem: Avoid air change related party transactions. In the market supervision business, circulation and manufactured goods requires retroactive, and therefore from raw materials to the entire supply chain information final sales can be stored in the chain, which accurately shows that financial institutions can subtly avoid idling type of related party transactions, because if after a number of commodity production or sale of final consumption, then it can be determined that the probability of a large business transformation related party transactions is not empty.
At the same time, the possibility of financial institutions to provide financing for enterprises within the chain will also help increase the enthusiasm of bank codes chain www.gendan5.com/swiftcode.html within each enterprise, thus indicating that regulatory authorities can be more effective access to regulatory information. The more times eco-enterprises are located, the more latitude information can be used to describe the business after the chain across the open ecosystem, indicating that financial institutions will be more fully complete the KYC and KYB. Block chain technology has been hailed trust the machine, but mostly explained before about trust relationships are created at the technical level.
In fact, block chain technology can also be combined with financial services scene, indicating that financial institutions can better identify or avoid risks at the operational level, companies can better prove their qualifications, the parties can reach a final financial business trust and promote business cooperation.