As the currency underlying technology block chain is increasingly attracting the attention of us and European financial sector. 1xbet, UBS, JPMorgan Chase and other banks have been start-related test, NASDAQ, the Australia Stock Exchange also tried smart securities trading, Canada’s Central Bank and the Netherlands Central Bank launched a digital cash development based on block chain. The industry believes that block chain is a potentially transformative technology, is expected to reshape the financial industry in the future.
Block chain is a data structure for digital books and share trading activities, the core idea is participation of each network node in the system is the whole network open book accounting, confirmed by the times entered the block record information permanent records of history, unable to make any modifications. Distributed information recorded in the General Ledger structure to ensure the tamper and traceability features, creating a “decentralized”, unbreakable network “chain of trust”.
In addressing the core of the financial industry’s credit problems, block chains and financial industries combined to create a myriad of possible.
According to Swiss silver released of block chain white paper introduced, using block chain technology, can created has not forged of cash property of digital currency, in provides directly, and clear of value transfer mechanism of while also can retained digital network of advantages; through for items provides unique, and not forged of identity and the not tampered with of its ownership records, block chain can greatly simplified tangible assets of directly transfer process, improve on its source of trust; last, in block chain in the joined full programming capacity, can created “intelligent contracts”, Not only better record financial agreement can achieve automatic execution and implementation of these agreements.
Block chains can make most types of real-time settlement of financial transactions, and simplify the clearing and settlement process, shorten settlement window, significantly reducing transaction costs and eliminating counterparty risk. In addition block chain is expected to minimize the errors that occur in the transaction process. Current United States market accounted for all trading 10% trading 1xbet need manual checking, if we adopt the block chain, many links can be “packed” into a smart contracts, so as to reduce unnecessary mistakes during the transaction, reduce the risk of human intervention. Goldman Sachs predicts, if block chain in a deal within the eco-system wide application will probably make the global transaction costs, operating expenses and capital expenditure save 11 billion-12 billion dollars a year. Block chain technology are also expected to provide more convenient “weapons”. Use the block chain, financial products and services, you can “embed” rules, which makes the system more compliance. This means that regulators could take action before the crisis and prevent crises, rather than to intervene after the crisis control trying to avoid the next crisis occurs.