The blockchain, which is considered to be the most promising financial technology, has become a new market enthusiasm under the dual pursuit of both enterprises and capital. According to incomplete statistics, as of the end of 2017, there were more than 1,600 blockchain startups in the world, which were more than ten times higher than in 2012, with a total financing of nearly US$2 billion.
On the other hand, capital seems to have gradually calmed down compared to the frenzy of the initial investment blockchain. According to the "2018 Blockchain Investment and Financing Report" released by the China Research Institute, in 2012-2017, the seed round and the angel round are still the most popular investment stage for investment institutions, but the proportion of this stage has been reduced from 100%. About 50%.
Recently, Sohu's Fox Financial Group announced the establishment of a blockchain research center. The center mainly explores blockchain technology, explores industry application scenarios, and provides technical support to industry and traditional financial institutions while serving various financial services of Fox Financial.
“The blockchain technology is the future trend and has great significance for the development of the financial industry. Fox Jinfu will invest heavily in the research and development of blockchain technology, hoping to make the scenes of risk control and trading more efficient, safe and intelligent through technological innovation. To provide more convenient financial services for our users," said He Jie, founder and CEO of Fox Gold.
The budding of blockchain technology can be traced back to 2007, and it was first applied to the generation, storage and trading of digital currency such as Bitcoin. However, this concept has become a popular issue in recent years. The blockchain is currently exploring the payment to clearing and accounting. , auditing, securities trading, risk management and other areas of expansion.
As a domestic Internet giant, Baidu, Alibaba, Tencent and other companies have been here to launch a "qualification" on the blockchain.
Baidu's layout in the blockchain is mainly concentrated in the financial sector. In May 2017, Baidu Finance and other financial institutions issued the first ABS project with the first blockchain technology support in China, with a scale of 424 million yuan. In August, “Baidu-Changan Xinsheng-Tianfeng 2017 First Asset Support The special plan was issued. Baidu Finance, as a technology service provider, built a blockchain service terminal BaaS and introduced blockchain technology.
In June of this year, Baidu's financial services business group officially completed the signing of the split financing agreement, and the new company after the split launched the new brand “Xiaoxiao Finance” to achieve independent operation. At present, the application scenarios of Xiaoman in the blockchain involve consumer finance ABS, blockchain game “Litz Dog”, blockchain service platform and so on.
On July 4th, Zhang Xiaoyang, Vice President of Finance, Zhang Xiaoyang, “Create 2018” Baidu AI Developer Conference, said that from Internet companies, technology companies, scene parties, traditional financial institutions to two-two joints; from the central bank to cover the crowd, to the non- Central Bank credit coverage of people and small and micro enterprises; from payment, credit, credit, wealth management to insurance; from electronic, mobile Internet to A(AI)-B (Blockchain)-C(Cloud)-D ( Big Data), technology is getting deeper into the essence of finance, and driving the upgrading and deepening of financial service models.
In this context, relying on its own artificial intelligence technology accumulation and forward-looking layout of blockchain technology, the internal and external resources of the small financial integration system to build a financial ABS platform, including asset management, cloud services, structural design, decision engine, intelligent wind Control, accounting and management can provide better asset stratification services for asset owners, such as car loans, small loan companies, etc., and can also provide investors with better asset penetration pricing management, including accounting firms and lawyers. Office, etc. Xiaoman Finance participates in the ABS service as a linker and provides full-process ABS services.
Blockchain technology is developing rapidly and the scene is still expanding. Li Feng, head of the financial blockchain of Xiaoman, believes that many scenes are still being explored, some are not perfect, very primitive, but only to do it, can really know the shortcomings of the blockchain in the actual business. One of the existing problems in the blockchain industry is that the value and benefits of the blockchain to other industries cannot be quantified, and whether it can be quantified is a mature standard for the application of blockchain technology.
Compared with Baidu, Alibaba, which has the advantage of e-commerce platform, attaches great importance to the application of blockchain in addition to financial layout. In October 2016, Ali cooperated with Microsoft, Xiao ant, and Fuda to launch the “Law Chain” of E-mail deposit certificate products based on Alibaba Cloud platform. Through the backup of e-mail and cloud services on the legal chain, Chinese courts can adopt digital Evidence mail.
In August 2017, Ali Health and Jiangsu Changzhou jointly launched the “Medical Link + Blockchain” pilot project, becoming China's first blockchain application based on medical scenarios; in November, Tmall International announced an upgrade based on blockchain The global origin traceability plan for technology, and said that it will cover 63 countries and regions in the world, 3,700 categories and 14,500 overseas brands, which will also be open to the whole industry.
In April of this year, Alibaba Cloud released a new blockchain solution that supports the Luxury Pavilion of the Tmall luxury platform. The solution uses Alibaba Cloud's blockchain technology to integrate the production process, distribution process and marketing process information of the Luxury Pavilion platform into the blockchain, so that each piece of information has a blockchain ID and is attached to each entity. Digital signatures and timestamps for consumers to query and verify.
Ant Financial has launched the world's first e-wallet-based blockchain cross-border remittance service on Alipayay HK on June 25. Cross-border remittances take only 3 seconds, compared to 10 minutes to a few days. Blockchain technology redefines cross-border remittances. This is another innovative exploration of the application of Ant Financial in the blockchain after charitable donations, food traceability, and rental management.
Tencent uses its highly advantageous social network to have a layout in both the financial sector and the scene application. In June 2017, Tencent and Bank of China jointly established the “Bank of China – Tencent Financial Technology Joint Lab”, focusing on deep cooperation based on cloud computing, big data, blockchain and artificial intelligence. In November, Tencent Cloud released the blockchain financial-grade solution BaaS, integrating capabilities such as big data, credit reporting, identity authentication, AI and third-party payment, in smart contracts, supply chain finance and supply chain management, cross-border payments, clearing Blockchain services are provided in scenarios such as auditing.
The current blockchain technology is still in its infancy, and there will be more possibilities in the future. Therefore, not only the technology giants are on the blockchain track. At the same time as Internet giants such as BAT have laid out blockchains, many small and medium-sized, entrepreneurial companies have also begun a battle for blockchain hunting.
According to incomplete statistics, as of the end of 2017, there were more than 1,600 blockchain startups in the world, which was more than ten times higher than the number of less than 200 in 2012, with an average annual growth rate of 51.6%. The peak of the growth rate appeared in 2013, reaching 158.96%.
The number of blockchain companies in the Chinese market has also maintained growth. According to the “2018 Blockchain Investment and Financing Report” released by the China Research Institute, as of the end of April 2018, there were more than 470 blockchain enterprises in the Chinese market, of which the North Shangguang area accounted for more than 73.07%.
From the perspective of the capital side, from 2012 to 2017, the total financing of blockchain enterprises was nearly 2 billion US dollars, with an average annual growth rate of 56.66%. The peak of the increase in financing scale also appeared in 2013-2014, reaching 316.09%.
In the Chinese market, as of the end of April 2018, the blockchain enterprises in the camp had received a total of 8.914 billion yuan of financing, of which 4,016 million yuan was obtained in April 2018, accounting for 70.74% of the total financing.
However, behind the capital carnival, "easy to create, difficult to survive" has become a "magic" that blockchain companies have to face. According to the "2018 Blockchain Investment and Financing Report", in 2012-2017, the seed round and angel round are still the most popular investment stage for investment institutions, but the proportion of this stage has dropped from 100% to about 50%.
“Investing in the round of investment means that the focus of investment institutions is not only on the innovation of blockchain projects, but also on the blockchain industry. However, the proportion of blockchain companies in obtaining rear-end financing is much lower than other. Similar emerging technology companies," said Jiang Ruoxi, an analyst at the China Investment Research Institute.
Behind the calmness of investors, more and more people in the market recognize the core of the blockchain and no longer hear the words “blockchain”.
In fact, the current application of the blockchain is mainly concentrated in the financial sector, and most of them do not involve the core of the blockchain. Han Han, chief engineer of China Information and Communication Research Institute, said that although Internet giants and traditional financial companies have begun to try blockchain technology in some projects, most of them are non-core projects, because once they involve traditional core projects, real business and systems, technology Obstacles such as rules are in the forefront.
At the same time, even the application of blockchain in the financial sector is not as good as everyone sees it. Jiang Ruoxi believes that the non-tamperable nature of blockchain can guarantee the security and credibility of financial assets to the greatest extent; but at the same time, blockchain technology is not mature in terms of system stability, expansion mode, business model, etc. Application and popularity may be affected by factors such as job density and turnover frequency.
However, for financial regulation, the People's Bank of China has studied blockchain technology for many years and established the Digital Money Institute to continue research on technologies and scenarios. According to media reports, in the 2017 global blockchain enterprise professional rankings, the number of patents of the People's Digital Money Institute ranked third, second only to Alibaba and Bank of America.
On June 22, the official website of the State Intellectual Property Office announced the patent application for the “inquiry method and inquiry system for digital currency trading information” of the People’s Bank of China Digital Currency Research Institute, which is the 63rd patent application since the establishment of the Central Digital Money Institute. .
“Distributed Ledger Technology, represented by Blockchain, is considered to be the most promising financial technology.” Li Wenhong and Jiang Zeshen, Research Fellows of the Bank of China Insurance Supervision and Management Commission, in China Bank Insurance Supervision and Management The committee's working paper pointed out that while encouraging financial institutions to actively use new technologies such as distributed accounts, blockchain, big data, cloud computing, and artificial intelligence, they should strengthen their supervision of cooperation with technology companies and require them to strengthen their information technology. Risks, outsourcing risks and other operational risks should be controlled, in particular, to ensure that the risk management and control entities are still responsible for business outsourcing, and that due diligence, risk assessment and continuous monitoring systems should be established for outsourcing service organizations such as technology companies, which cannot be reduced due to outsourcing. Risk management standards.
Since 2007, blockchain technology has gone through a long decade. At present, the development of distributed account and blockchain technology is still in its infancy, and small-scale R&D and application have been implemented only in limited regions or institutions. The effect remains to be tested. BATs are involved in blockchain finance. Do you believe that the breakthrough in application in this field is still possible, or is it to make technical reserves, waiting for the market to further improve? Before the blockchain technology ushered in a real outbreak, everything was just unknown.