Blockchain technology, with its unique characteristics, enables it to be applied in many fields.
Blockchain is essentially a multi-participant, jointly maintained, and continuously growing distributed database system that applies cryptography technology, also known as a distributed shared ledger. Each page in the shared ledger is a block, and each block is filled with transaction records. The characteristics of blockchain technology, such as anonymity, decentralization, openness and transparency, and non-tampering, make it favored by enterprises and has won More extensive application attempts.
1. Financial field
The blockchain can provide a trust mechanism and has the potential to change the financial infrastructure. Various financial assets such as equity, bonds, bills, warehouse receipts, fund shares, etc. can be integrated into the blockchain technology system and become digital assets on the chain. Assets are stored, transferred and traded on the blockchain.
The decentralization of blockchain technology can reduce transaction costs and make financial transactions more convenient, intuitive and secure. The combination of blockchain technology and the financial industry will inevitably create more and more business models, service scenarios, business processes and financial products, which will bring more impact on the development of financial markets, financial institutions, financial services and financial formats . With the improvement of blockchain technology and the combination of blockchain technology and other financial technologies, blockchain technology will gradually adapt to the application of large-scale financial scenarios.
2. Public service field
Traditional public services rely on limited data dimensions, and the information obtained may not be comprehensive enough and has a certain lag. The non-tamperable nature of the blockchain makes the digital proofs on the chain extremely credible, and can be used to establish a new authentication mechanism in the fields of property rights, notarization, and public welfare, and improve the management level of public services.
Relevant information in the public welfare process, such as donation projects, fundraising details, fund flow, recipient feedback, etc., can be stored on the blockchain. Under the premise of meeting the privacy protection requirements of project participants and other relevant laws and regulations, conditional Public announcements are made in a timely manner to facilitate public and social supervision.
3. Information security field
Utilizing the traceable and non-tamperable characteristics of the blockchain can ensure the authenticity of the data source and at the same time ensure the unforgeability of the data. The blockchain technology will fundamentally change the security issues of the information transmission path.
The blockchain is reflected in the following three points in the field of information security:
- User identity authentication protection
- Data Integrity Protection
- Effectively block DDoS attacks
The distributed storage architecture of the blockchain will make hackers at a loss. Some companies have already started to develop a distributed Internet domain name system based on the blockchain, eliminating the root cause of the current DNS registration malpractice and making the network system more clean and transparent.
4. Internet of Things
Blockchain + Internet of Things allows each device on the Internet of Things to operate independently, and the information generated by the entire network can be guaranteed by the smart contract of the blockchain.
Security: Traditional IoT devices are highly vulnerable to attack, vulnerable to data loss and expensive to maintain. Typical information security risks of IoT devices include low firmware version, lack of security patches, permission loopholes, too many device network ports, unencrypted information transmission, etc. The consensus mechanism of blockchain node verification, asymmetric encryption technology and data distributed storage will greatly reduce the risk of hacker attacks.
Credibility: The traditional Internet of Things is controlled by a centralized cloud server. Due to the security of the equipment and the opacity of the centralized server, it is difficult to effectively protect the privacy of users. The blockchain is a distributed account book, and each block is not only interconnected but also has its own independent working ability to ensure that the information on the chain will not be tampered with at will. Distributed ledgers can therefore provide trust, ownership records, transparency, and communication support for the Internet of Things.
Benefits: Limited by cloud services and maintenance costs, it is difficult for the Internet of Things to achieve large-scale commercial use. The traditional Internet of Things realizes communication between things through centralized cloud servers. The disadvantage of this model is that as the number of connected devices increases, the server faces more loads, requiring enterprises to invest a lot of money to maintain the normal operation of the IoT system.
The blockchain technology can directly realize peer-to-peer transactions, omitting the labor expenses of other intermediaries or personnel in the middle, which can effectively reduce the costs incurred by third-party services and maximize benefits.
