The application of block chain technology in financial field and its influence on fintech are increasing day by day. Blockchain is characterized by decentralization, de-intermediation, dependable, high anonymity and non-tampering. To a certain extent, it helps speed up the innovation of financial product, reduce information asymmetry, improve operation efficiency and service quality of modern financial, and effectively maintain financial stability. Since the application experiment of the foundation block in the 1990s, international and domestic attention to the blockchain technology has continued to rise. Many financial institutions and enterprises around the world have actively carried out research and development on the blockchain technology. A new financial format derived from blockchain technology begins to emerge, and the combination and application of blockchain and finance enter into a new stage.
Blockchain technology is naturally compatible with financial scenarios, and will be applied to more and more business models, service scenarios, business processes and financial products in the future, thus making more influences on the development of financial markets, financial institutions, financial services and financial format.
he 2019 Trusted Blockchain Summit will be held in Beijing on November 8, 2019, which will be hosted by China Academy of Information and Communications Technology, China Communication Standards Association, Trusted Blockchain Initiatives, and co-organized by Techwalker. In order to further understand the development environment and challenges of blockchain in finance, a blockchain financial application forum will be specially arranged during the 2019 Trusted Blockchain Summit. Members of the supply chain finance team, the financial group lead unit (ICBC), the International Chamber of Commerce and other financial enterprises to discuss the practical experience of blockchain in the supply chain finance field, share the challenges and achievements in this industry, and jointly study the development direction of the industry.
With the continuous development and deepening of fintech, some technical means can break through the shackles of traditional financial models and contribute more energy to the development of real economy. Blockchain technology is characterized by weak centralization, non-tampering and inclusiveness, which can produce the self-trust effect and solve the problem of information asymmetry concentrated on the development of real economy. In theory, blockchain technology can bring change to the financial sector. However, in the practical application, because of the immature technology, its operability still needs to be further studied. In the future, blockchain technology can be fully applied in legal digital currency, payment and settlement, risk management, direct financing and other financial fields.
China Academy of Information and Communications Technology
China Communications Standards Association
Trusted Blockchain Initiatives