Technology of area piece catenary was invented 2008, it depicted it to be able to bring change to disparate industry. This kind of technology, although be in earlier, with respect to the industry that had overturned to differ and branch. All sorts of character of area piece catenary, if go to a center changing, fixity and diaphaneity, make its have appeal to the commercial department of world each district and domain. Disentombing one of industries that respect of latent capacity of area piece catenary is in lead position are banking and financial industry.
Although still be put in a few obstacles at present, but can say for certain, area piece catenary has latent capacity to change finance and banking through reducing potential cost and economic labour force. A report of the Hua Yongdao that occupy general shows, the whole world has the finance of 24% to be in charge of technologies of pair of area piece catenary high to be familiar with very much, and the familiar rate that North America provides technologies of pair of area piece catenary high is apparent prep above is other area. To survey the extensive influence of this kind of technology, the company considers how to use area piece chain in many domains ceaselessly.
Specific for, bank and financial department have everyday by tens of thousands capital from the world an area transfers another area regularly. This makes global banking system makes one of apply and is benefited the most welcome trades that carry area piece chain. Bank and financial department are run on the foundation that depends on artificial network highly, appear very easily mistake and fraudulent action, cause a fund management system that break down possibly thereby. Basis " global finance science and technology reported 2017 " , to 2020, the orgnaization of financial science and technology of 77% predicts to will use area piece catenary to regard production as the one part of system or flow.
Area piece catenary is used at banking
Be based on technologies of pair of area piece catenary and the basic understanding that its run, is the real problem that emerges suddenly in our brain area piece catenary useful really to banking? If be, so how do we use area piece chain with best means? The most important is, is area piece catenary to still stay?
Basis " haing Buddha commerce is commented on " (the view of an article in Harvard Business Review) , the influence of area piece catenary to the bank, right like Internet the effect of media is same. When speaking of today's bank and financial orgnaization, area piece catenary has latent capacity to solve a lot of problems. Technology of area piece catenary had all intriguing features that responsible financial technology institute needs. Its its safety, reliable, dispersive, transparent, and opposite petty gain.
When involving commutative data, information and money, area piece catenary provided very high security. It still makes the user can use transparent network infrastructure, reducing operation cost. These characteristics make area piece catenary makes banking and financial trade reliable, the with demand solution that has an outlook.
Financial orgnaization is performing the necessary function that ensures people capital safety, accordingly, existing process needs a large number of pacifier. Be these pacifier participate in ability to make this industry becomes more costly. In addition, as a result of the participation of too much person and artificial processing, make mistake and con possibility always is increasing. The target of technology of area piece catenary is use up with fewer money through trade and making integral client experience more satisfactory will finish onerous job.
A few banks use the case of area piece catenary
Although " area piece catenary " this word got in the beginning of use the doubt of bank and financial orgnaization, but the circumstance had been changed now. As the area piece the catenary success in each industries, banking is exploring the new field of technology of area piece catenary and application actively.
Like Magendatong such big company is opposite the future of technology of area piece catenary is confident. Headquarters crosses a country to invested a bank to had established a new department in the United States of Newyork city, the name is " Quorum branch " , the research that is in charge of technology of area piece catenary technically and carry out. Quorum is a distributed classified Zhang and intelligent bond platform, use at business support trades quickly with handling capacity, in order to answer the challenge of financial industry, bank and other side. According to resource circumstance, they had been issued with variable interest rate distributed the year saving card that registers a watch to be a foundation.
Besides these, a main bank of American -- American bank had submitted a patent document, publish by American patent and brand bureau. The region that this documentation discussed to already obtained a license piece the implementation of catenary, should area piece catenary is used at protection record and undertake identity test and verify to business and individual data.
This system visits the participator that allows accredit only data, withhold all log entry. In addition, this system will use technology of area piece catenary to store many existing data platform incorporates it is. This kind of safe single network will improve integral efficiency, reduce the amount of the memory position of user data
Another of this group is Gao Cheng, he is taken an active part in distributed the research that registers a technology and support. They invested the name is Circle add learn a project closely. This project is considered as one of newly established enterprises with the most sufficient financing of domain of area piece catenary. Its purpose is the crucial problem that solves wave motion of digital money domain, make financial department is used thereby add close period authority is more reliable.
To support a such welcome projects, fill a group high to plan to become competitor of its wall street to use the conductor that adds close money. They return those who established their to add close trade branch, the number that handles them technically trades.
Area piece catenary applies mediumly in finance
As new appear with exemple increasingly grow in quantity, technology of area piece catenary overturns likely current bank and financial department. Area piece catenary changes a few kinds of means of current banking appearance to be as follows:
Decrease con
For love or money, intervening metropolis of money brings about the possibility of fraudulent activity to increase. And to a branch that is a foundation with fundamental money, security is the most important. Exceed the financial orgnaization of 40% and intermediary orgnaization, include remittance to serve business and stock exchange, commit a crime easily every year because of economy and suffer significant loss.
The reason is system of database of use collect Chinese style have operation and capital government. The database system of Chinese style of a collect is flimsy, be atttacked extremely easily by the network, be used easily by the hacker. Once the hacker entered a such systems, he / she took away money easy to doly. This brings about the system with safer need to prevent this kind of attack.
Enter area piece chain, this is a kind of safety that moves on distributed database system, do not get destructive technology. Because area piece catenary is distributed, because this appears impossibly,sheet nods breakdown. Every trade with the formal memory of area piece, have a kind to be destroyed very hard add close mechanism.
And, all areas piece it is coadjacent, as a result of this concatenate mechanism, if an area piece by breach, all and other area on area piece catenary piece showed change immediately. Conversely, this also conduces to dog flaw, make the hacker does not have time to undertake changing in whole system. The area that had security piece catenary system, we can eliminate the assault of the network crime that current period produces and bank and financial department.
The client that knows you (KYC)
Bank and financial orgnaization pay close attention to strictly to abide by " wash money instead " wash money and understanding client standard instead namely with KYC() and the cost that rises what must assume ceaselessly. All these processes expend a large number of time, must carry out alone by all banks and the orgnaization that are a foundation with the money.
An investigation that according to Shang Sen the road appears shows, the total outlay estimation with these annual flow arrives in 60 million dollar between 500 million dollar. Of these clients fulfilling his duty to investigate a regulation is to decrease wash money and terroristic activity. Current, bank need uploads KYC data of the client in the center of register a center, use at examining the information of existing or new client.
After using system of area piece catenary, the independence that undertakes to every client by a bank or financial orgnaization is checked will can use for other bank, need not start KYC process afresh again thereby.
This is meant use technology of area piece catenary to be able to be eliminated duplicate work. In addition, of the client all updating will in order to be close to real time means offers all finance orgnaization. This will decrease clerical work and reduce the cost that joins compasses department.
Intelligent asset
If as a way of produces what the form undertakes to trade,must have specific date and time seal, trade financing can become special have challenge sex. The supply of world each district catenary involves many substance and component to be lasted buying and selling. All paperwork that involve a record to need sue for peace to supply detail are more complex even. Area piece catenary can save the record of these intelligent asset with the form of digitlization, make its are updated in real time. Intelligent capital system will not the entry of the target that confine reachs at moving from here over there but it also can track a specific project is in where consign and come from where.
The bank that is current competition and financial orgnaization build an intelligence asset to dog system, very large space is had in competition. The bank that owns rich data set is OK area of have the aid of piece catenary general the valuable information of clients of these data translate into.
Intelligent agreement
The application of intelligent agreement is mixed in the bank financial industry especially important. Intelligent agreement is the code that one Duan Ke ego implements, move when the certain requirement that writes on its is finished.
Intelligent agreement is being used at finance trades, will conduce to carry high speed is spent and simplify complex process. This still will ensure of accurate information deliver, because be only below the circumstance of all and written condition that accords with code, trade to just can get approving. In addition, because these clauses are right,bourse experience just is visible each, the possibility that the mistake appears when be being carried out accordingly can be reduced greatly.
Trade financing
Trade financing is considered as one of application with the most useful in banking technology of area piece catenary. All related sides, if trade complexly, can be on network of area piece catenary land, information can be by exporter, importer and bank on a collective distributed general ledger share. Once satisfied the certain and specific requirement in trading, intelligent agreement will carry out themselves automatically, and relevant all operations that just can examine place to carry out each.
Disclose according to message personage, the newly established enterprise that a headquarters is located in Israel and Bakelai (Barclays) finished a commerce successfully to trade, used technology of area piece catenary to spent 4 hours to be finished only need normally 7 trade to what 10 days of ability finish. Compare with existing infrastructure photograph, the use of area piece catenary can be shown reduce the cost that concerns with licence, bill and other overhead expenses.
Why does area piece catenary apply to banking?
1.Current bank system is mixed on paper face on flow very reliable. Current requirement is to use embed with calculable technology reliably the system after upgrading, can resist con, but retractility and safe problem. Technology of area piece catenary and the character that its go to a center changing can give what bank system brings them to be being searched the advantage that be badly in need of.
2.The bank cannot be called to become independent run, autarky is hypostatic, because pass them,undertake any trading that still involve intermediary. In addition, in cross condition turn the speed of Zhang still can be as long as 5 days, still bring a risk at the same time. Had system of area piece catenary, bank aux will be able to is quite below the situation that need not assume risk responsibility, implementation is true turn quickly Zhang, because systematic aux will be able to is enough,autarky ground proper motion solves all problems.
3.The world is being digitlized, progress as this, even if trade and paying smally also is digitlization. Economic activity rate is rising, without doubt, in prospective day, economic activity rate will continue to rise. . As trade of charge reduce and but of expansibility rise, technology of area piece catenary will make small-sized transmit become feasible and fast.
4.The other finance outside eliminating a bank serves an orgnaization to fall to develop its system ceaselessly in the help of latest technology, so that be offerred with lower price economically available service, ensure the market thereby. Banking and other finance orgnaization also should expect to use new division piece catenary technology, in order to ensure its are in the position in ecosystem.
Use the challenge of the respect
Consider the draw up characteristic of area piece catenary, it is using a respect to have its advantage for certain, but also put in a few obstacles on this road, bank and financial orgnaization need overcome these obstacles, ability advances the development of area piece catenary.
Each other operates a gender: Technology of area piece catenary does not accept the restriction of any international regulation. Increase increasingly as the demand that the gender handles to each other between the large trade such as the bank, this technology must as compatible as different system, should have the latent capacity that is used by the masses. Because current system and flow cannot be eliminated completely, want to will have system and the model that are based on area piece catenary compositive it is an enormous challenge together. If use allow actually of area piece catenary to make many systems work smoothly in coordination, with respect to the feasibility that can realize an operation.
Privacy: The memory that bank and financial orgnaization are people faith the substance of their capital. Replace them to let area piece catenary, ensure memory is in the data on technology of area piece catenary is safety, and won't affect the status of any individuals, this are very important. Because be in public division piece undertake on catenary trading is open, need is explored demesne area piece catenary the latent capacity in data key branch, solve each other to handle the issue such as the gender.
Add close: Illicit key is the woof of area piece catenary, because they are in groove guard piece the effect with the main move since the individual data side on catenary. But, once illicit key is put,the fault perhaps was lost, look for it without method. In addition, be used at memory data add it is OK to be returned closely be atttacked through find flaw and making area piece catenary easy in the network by the hacker.
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But retractility: The growth of existing database is undeniable. Entered personnel number will continue to increase. The application of network of technology of catenary of this pair of area piece posed enormous challenge. The network that carries area piece catenary to found should the flow that can handle constant growth, carry the can visit a gender rate of network participator at the same time. If technology of area piece catenary applies at existing bank system and orgnaization, it also must ensure the ability that processes mass data.
The sources of energy uses up: The division that runs successfully at present piece catenary network uses the job to prove a mechanism mostly, the speed that solves a problem according to network participator namely will to the network add a new division piece, reward network participator thereby. In maintain while the network moves normally, the form that it also works with computation increased many specific power consumption. Ability of this kind of computation can produce many carbolic bequeath to affect an environment thereby. Before area piece chain is used in the industry that is similar to banking, need solves this problem through other encouragement mechanism.
Law exemple: If area piece catenary applies at banking, must make international and home superintend regulation so. Current, the application with area piece the most popular catenary adds close money to make without any relevant code they are affected easily by profit and losing. However, if area piece catenary found his place in bank or financial department, have corresponding code with respect to need, the disorder appears between the people when producing any losses with avoiding to be in.
Conclusion
Although banking gets strict superintendency, but in view of add close money to be in of current market gain ground, financial orgnaization has begun to realize the potential of technology of area piece catenary. The tycoon of banking has begun to have a test, go to a center in order to find out this kind changing a technology in its the likelihood in business flow is used exemple.
In addition, this kind of research that a few organizations still have to newly established company and test had a large number of investment, be based on the solution of area piece catenary in order to develop. As the area piece catenary enters current condition, a lot of problems can get settlement, make a system more transparent at the same time, visit easily and reliable.
