In the first half of the year, 25 A-share financial institutions blockchain color verification
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February 17 09:22:15, 2021
With the rapid development of financial technology, increasing the investment and innovation of financial technology has become the consensus of the financial industry. The deep integration of finance and technology will greatly improve operational efficiency, expand service boundaries, and reduce operating costs, which in turn will lead to new business models and profit models. Among them, the application of new technologies represented by blockchain in the field of financial services has matured. The reporter sorted out the relevant announcements of the Shanghai and Shenzhen stock markets. In the first half of this year, a total of 25 listed financial institutions, including banks, insurance companies and brokerage companies, mentioned the importance of blockchain technology in the announcement, and 16 existing blockchain applications have landed. The application of blockchain in the financial sector has been highly anticipated. The blockchain de-intermediation, high transparency, and tamper-proof features can provide a trust mechanism, and the most difficult area for mutual trust is to break into the blockchain technology. A blockchain technology researcher told reporters that “the financial cost of the financial sector is relatively high. High, the cost of establishing mutual trust is more difficult, and the blockchain can not only solve the trust problem in the financial system, but also the characteristics of de-intermediation can reduce transaction costs and make financial transactions more convenient and safe. The four major banks are working hard Nowadays, the blockchain technology that has grown up in the hot spot of financial technology is becoming stronger and stronger, and it is increasingly valued by financial institutions. According to statistics from the reporters, in the first half of this year, 25 financial institutions in the Shanghai and Shenzhen stock exchanges released signals to enter the blockchain, covering banking, insurance, brokerage and other industries, and 16 have developed blockchain applications. As far as the progress of listed financial institutions in the blockchain in the first half of the year is concerned, commercial banks are undoubtedly at the forefront. Of the listed financial institutions that have already announced blockchain applications, 15 are commercial banks. In addition, although the brokers have a higher voice in the blockchain, the actual application seems to be limited. Some analysts believe that from the experience of foreign countries, commercial banks are also the most popular among all financial institutions. From the practical experience, the decentralization of the blockchain can be widely applied in the fields of bank payment, settlement and clearing, credit reporting, etc., to improve the risk control model of existing commercial banks, improve transaction efficiency and reduce operational risks. Among the listed banks, the four major banks are undoubtedly in the forefront of the blockchain layout, and there are more projects in the blockchain application. For example, ICBC uses blockchain technology primarily in the area of ​​fund management. It is worth noting that ICBC applied blockchain technology to poverty alleviation and built a blockchain platform for poverty alleviation funds in Guizhou. In the domestic banking industry, the Agricultural Bank of China applied blockchain technology to the e-commerce supply chain finance field for the first time, and launched the “e-chain loan†for agricultural Internet e-commerce financing products. At the same time, it promoted the construction of financial digital points system and built a leading area in the industry. Blockchain integration system to enhance customer activity. Bank of China applies blockchain technology to trade finance and launches trade finance blockchain applications. In addition, recently, Forbes released 50 global public companies with the largest sales volume in the global blockchain based on its list of global companies in the year 2000. Among the top five companies, three of China's state-owned banks are on the list: ICBC ranks first, Construction Bank ranks second, and Agricultural Bank ranks fifth. In addition, the Bank of China also entered the top ten, ranking ninth. The reporter found that cross-border business is the most widely used area of ​​blockchain in the blockchain layout of listed commercial banks. Including construction banks, China Merchants Bank, China CITIC Bank, etc. have products. For example, the Construction Bank said that it has taken the lead in realizing the blockchain inter-bank and cross-border practical application in the domestic letter of credit, Forfeiting and international factoring in the industry. The cumulative transaction volume through the blockchain reached 1.6 billion yuan, covering 20 Domestic and foreign institutions. China Merchants Bank successfully completed the world's first blockchain cross-border RMB clearing business based on the industry's first blockchain-based peer clearing and open platform. CITIC Bank launched the blockchain domestic credit system for the first time to use blockchain technology in the field of letter of credit settlement, effectively improving the efficiency and security of business processing. Wang Jun, chief economist of Zhongyuan Bank, said that in the field of cross-border payment and settlement, blockchain technology can help achieve point-to-point transactions and reduce intermediate costs. The potential advantages of blockchain technology in the transfer of funds, especially in cross-border consumption and payment settlement services, are particularly prominent. Commercial banks should seize market opportunities to provide low-cost, high-efficiency and low-risk cross-border payment and settlement products and solutions to the market and customers, and enhance the competitiveness and profitability of China's trade-oriented enterprises. Brokerage "small talk" in addition to commercial banks, reporters found that, although brokerage, insurance and other financial institutions, also said that "being studied", but the actual landing project is very limited. In the brokerage field, although a number of listed brokers clearly expressed interest in the blockchain, no actual project has been found in the first half of this year. The description of the blockchain by many brokerages is only "active exploration" and "increasing research investment". It is worth noting that in the listed financial groups, Ping An’s exploration of the blockchain is more in-depth. Ping An said that the blockchain is regarded as one of the five core technologies, providing a safe, traceable and efficient transaction record method, which has been deeply applied in many scenarios such as finance, medical health and real estate transactions. As of the end of 2017, Ping An’s financial account-breaking blockchain has covered over 12 trillion yuan in transactions and over 2,300 registered institutions. In addition, Ping An Group has issued 57 patents in the blockchain field. Why are financial institutions keen on blockchain technology? The de-intermediation, high-transparency, and anti-tampering features of blockchain can provide a trust mechanism and establish the most easy-to-cut blockchain technology in areas where mutual trust needs are urgent. A blockchain technology researcher told reporters that “the cost of credit in the financial sector is relatively high, and the cost of establishing mutual trust is difficult. The blockchain can not only solve the trust problem in the financial system, but also reduce the characteristics of de-intermediation. Transaction costs make financial transactions easier and safer."