Blockchain is a decentralized data storage technology. Its core value is to create a system of safe and reliable, can make a mutual distrust the institutions or individuals, under no authoritative center organization as a whole, still can trust each other to interaction of information and data. At the same time, the block chain realizes the untamperability and non-deletion of data through cryptography, distributed consistency protocol, consensus protocol, point-to-point network communication and other technical means. Using blockchain technology, once information is published on the chain, it will never be deleted and modified. At the same time each data center can trust each other to share data.
Based on the advantages of blockchain technology, investment banking chain team will play an irreplaceable role in fund management, investment and finance.
The blockchain provides a compelling solution for combining accessibility with privacy and security. You can use end-to-end encryption to securely record, and expose authentication, reference, and documentation, so that the data can still be trusted to be reliable. This approach was not possible five years ago, but by using modern encryption techniques, coupled with the use of blockchain technology and smart contracts, this ideal has now become a reality. This solves the problem of dealing with highly sensitive or confidential countries, which will still ensure all the privacy and confidentiality rights expected by the participants and regulators.
Resolving trust issues in the Shared economy, reducing fraud and increasing trust: the application of blockchain technology makes it difficult to tamper, increase, and delete historical transaction records without being discovered. This will solve the problem of distrust between consumers and sellers, and accelerate the development of the sharing economy, especially in the commercial situations where the physical distance between users is far away.
Increasing the efficiency and transparency of multiparty transactions: by increasing the transparency of the data that is supposed to be Shared in the existing system, it can save costs and improve efficiency. Such as block chain technology enables each counterparty to share all the transaction data, simplify the process of trading clearing and settlement, completely avoid the data errors caused by manual proofreading, processing process, shorten the closed window.
The high reliability of the blockchain database and the high degree of transparency within its application alliances also indicate a lot of hard and hard challenges in the beginning of business. They’re more block chain project related enterprises, alliance, interest coordination between the government and IT systems on the business process of docking, eventually even the IT implementation process to solve the problem of block chain load capacity. These factors are the most critical thing to determine how quickly the blockchain data technology can advance in an application domain.