Five landing scenarios of blockchain application development

Time:2021-6-1

Blockchain technology is another hot technology after the Internet, and the development of blockchain applications has gradually become an important field of competition in various industries. A variety of blockchain applications appear in the blockchain market, some of them are hot spots, and some are really exploring the landing scene of blockchain technology. Let’s take a look at the five landing scenarios of blockchain application development.

① Blockchain + authentication

The process of traditional authentication is complex and lack of credibility. Blockchain + authentication has two advantages

Process simplification: after the application of blockchain to authentication, both registration and query are very convenient, and there is no need to run between various departments.

Safe and reliable: the decentralized storage of blockchain ensures that no organization can tamper with data arbitrarily.

② Blockchain + cross border payment

Traditional cross-border payment involves a variety of currencies and has exchange rate problems. Traditional cross-border payment relies heavily on third-party institutions, with complicated process, long settlement cycle and high handling charges. The reason for this is the information asymmetry and the lack of an effective trust mechanism.

The introduction of blockchain solves the problem of cross-border payment information asymmetry and establishes a certain degree of trust mechanism; There are two benefits. The efficiency is improved, the cost is reduced, and the traceability meets the regulatory requirements.

③ Blockchain + supply chain finance

Traditional supply chain single point financing, in the general supply chain trade, from the purchase of raw materials, processing, assembly to sales of various enterprises are involved in capital expenditure and income, and the enterprise’s capital expenditure and income is time difference, which formed a capital gap, most of the need for financing production.

The financing difficulty of small and medium-sized enterprises in the traditional supply chain is mainly due to the lack of an effective trust mechanism between banks and small and medium-sized enterprises. If all the nodes in the supply chain are connected, the data reliability of the core enterprises can be guaranteed through the private key signature technology of the blockchain; The contract, bills and other on the chain, is the digitization of assets, easy to circulate, realize the value transfer.

④ Blockchain + asset digitization

Physical assets are often difficult to be divided and difficult to circulate. The circulation of real assets is difficult to monitor and there are risks such as money laundering.

After digitization of assets, it is easy to divide, easy to circulate and low in transaction cost. After using blockchain technology to digitize assets, all asset transaction records are open, transparent, permanently stored and traceable, which fully meets the regulatory requirements.

⑤ Blockchain + information sharing

Traditional information sharing lacks a way of mutual trust, which makes it difficult to determine whether the received information is sent by the other party. The blockchain itself needs to maintain the data consistency of each node, which can be said to have its own information sharing function; The real-time problems can be realized through the P2P technology of blockchain; Using the tamper proof and consensus mechanism of blockchain, a secure and reliable information sharing channel can be constructed.

There is a lot of space for the application of blockchain technology in many fields, which also needs more technicians to explore and research. Although the implementation of many blockchain application development is not clear, it is not that the current problems of blockchain technology hinder its wide range of applications, nor that there are very few scenarios for blockchain application. Blockchain business involves the interests of all parties, and its biggest problem may be far beyond technology.