There are actually many application fields of blockchain. In the future, integrating the layout of various blockchains and jointly building one that is no lower than the industry level will be the development direction of blockchain in the future.
The following is a brief introduction to some blockchain applications and the problems faced by these applications:
Securities accounting
The OCC option clearing and settlement institution in the United States has piloted a blockchain accounting model to broadcast settlement results, making the settlement results immutable and easy to manage. The units used are mainly settlement members, which are limited to hundreds of large companies. This should only be limited to the accounting method. Many people hope to reduce settlement time through blockchain smart contracts. The chairman of the US SEC responded to the relevant ideas. The main idea expressed is that twenty years ago, the financial industry had real-time settlement. The ability to not adopt or even extend the settlement time is to establish a credit mechanism. Technically, my non-delivery gives each company leverage space, reduces financial pressure, allows net settlement, and reduces settlement time. For example, if the delivery is real-time, I need to have enough securities in real time. If it is not real-time, financial institutions can wait for netting and borrow bills. The overall pressure on the account will be less. The credit financial system has created a lot for the financial economy. Extra value.
It can be seen here that the entire blockchain is not researched by the industry itself, and more professionals need to think about the impact.
Insurance Industry
The insurance industry is involved in many projects, but they are all marginal. Typical blockchain pilots include blockchain-based mutual aid announcements, blockchain-based automatic claims for property insurance, and blockchain-based claims data collection.
But what I am more optimistic about are insurance re-trading based on blockchain technology, self-operated pension products based on blockchain technology, etc. But these are all in the core field of insurance. I remember a very senior insurance CEO asked me a question, whether the insurance company’s brand is more credible, or the blockchain technology is more credible. From the thunderstorms of various smart contracts in the past two years, I found that the questions asked by this senior are more worth thinking about.
The smart contract is based on oracle and can introduce data from outside the chain. The smart contract is based on judgment and includes whether the airline is delayed to trigger the calculation of the claim settlement result. This result forms a certificate on the chain. Users can sign this certificate on the chain based on their own private keys to complete claiming NFT. Based on this NFT, the entire process will be automated online and offline. This is also a relatively complete blockchain project that our current insurance industry can implement. Damn it, just save some documents for your insurance.
Other levels of application
Including infrastructure types that will be more useful in the future, such as the judicial chain, data transactions, which are very suitable for Internet data protection, data planning applications, Shanghai Stock Exchange’s asset splitting blockchain applications, and receivable asset financing applications, are some of the current financial applications. The industry is relatively optimistic.
