China Releases Major Blockchain Financial Report Focusing on Application Scenarios and Development Recommendations

robot
Abstract generation in progress

Recently, an important research report on the application and development of blockchain finance in China was released. This 130,000-word report was compiled over six months by the blockchain research working group of the relevant industry association.

The report is rich in content and is divided into five main parts: the general report, application scenarios, underlying platforms, annual events, and appendices. It not only analyzes the development trends of Blockchain technology and its application practices in the global financial sector, but also conducts an in-depth survey of 112 Blockchain application projects in the financial field from 47 relevant institutions in China. The report summarizes the typical scenarios and basic logic of Blockchain applications in China's financial sector, analyzes the potential value and challenges faced by related application explorations, and proposes recommendations for sustainable development.

In addition, the report also selects practical cases of Blockchain in scenarios such as supply chain finance, trade finance, insurtech, cross-border payments, and asset securitization, as well as some cases related to underlying platforms. At the same time, it summarizes important events related to Blockchain in the financial sector at home and abroad in 2019. This report aims to provide research materials and practical references for all sectors, guiding the compliant and safe application of Blockchain technology in the financial field, in order to better serve the real economy and assist in the construction of the modern financial system.

According to the report analysis, the current non-coin applications of Blockchain in the financial sector mainly achieve three types of functions:

  1. Information storage and transmission: including the preservation, tracing, sharing, and verification of financial-related information.
  2. Limited value transfer: such as points and their internal exchange functions.
  3. Smart contracts execute automatically: based on smart contracts that can be verified in multiple forms.

However, the report also highlights the risks and challenges faced by Blockchain technology in the financial sector:

  1. Technical aspect: It is difficult to fully meet the requirements of certain financial scenarios for security, functionality, and performance.
  2. Governance: There is a need to further improve regulations, standards, and talent-related arrangements.
  3. Business level: There are some gray areas, and the application innovation lacks authoritative third-party evaluation.

To address these challenges, the report proposes the following recommendations:

  1. Policy and regulatory level: Strengthen research tracking and formulate rules to promote compliance.
  2. Industry organization level: Build platform bridges and study standards to consolidate power.
  3. From the perspective of industry institutions: explore core technologies and seize application promotion scenarios.

The release of this report provides valuable insights and guidance for the application of Blockchain technology in the financial sector, and is expected to promote further development and regulation in the field.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 3
  • Share
Comment
0/400
ETHReserveBankvip
· 07-14 02:13
Blockchain has yet to develop, finance is the focus.
View OriginalReply0
BlockDetectivevip
· 07-11 19:19
Let the bullets fly for a while
View OriginalReply0
SchrodingersFOMOvip
· 07-11 04:40
Here comes another attempt to fool the common people.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)