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As one of the most centralized industries, the financial service industry has always been unable to establish an effective credit mechanism because of the asymmetry of information between the parties to the transaction.
In addition, there are a large number of centralized credit intermediaries and information intermediaries in the industrial chain, which reduces the efficiency of system operation to a certain extent and increases the cost of capital transactions.
In order to solve the above problems, many institutions and enterprises in my country have carried out experiments to integrate blockchain into the financial field.
As early as December 2017, China Merchants Bank teamed up with Wing Lung Bank to successfully achieve cross-border RMB remittances between the three parties using blockchain technology. This business has also become the world's first inter-industry cross-border RMB clearing business based on blockchain technology.
As early as October 2016, China Postal Savings Bank mobile IBM (China) launched an asset custody platform based on blockchain technology, and this platform is also the first time that the Chinese banking industry has applied blockchain technology to its core banking business. Successful practice.
On August 16, 2017, Zheshang Bank launched the "Receivables Chain Platform" based on the underlying blockchain technology of Funchain Technology. The platform aims to solve the pain and difficulties of corporate accounts receivable. Through this platform, it can help companies revitalize their current assets, reduce payables, activate receivables, achieve "lower leverage and lower costs", help companies reduce costs and increase efficiency, and ease financing difficulties and expensive financing for SMEs.
In addition to banks, in October 2018, Tencent and Lianyirong jointly launched the blockchain supply chain financial platform "micro-enterprise chain" based on Tencent's blockchain technology. The platform has also become the first case selected in the "White Paper on Blockchain and Supply Chain Finance".
Coincidentally, in January 2019, Ant Blockchain released the supply chain collaboration network Ant Shuangliantong based on the blockchain technology architecture. This application aims to solve the financing problems of the upstream and downstream of the broad supply chain, especially the small and medium-sized manufacturing enterprises.
The above five parts are just the tip of the iceberg of many applications of blockchain. I believe that in the future, with the further exploration of blockchain technology, blockchain technology will truly enter thousands of households, and "what can the blockchain do" is no longer a question that needs to be answered.