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Speaking of blockchain technology, we should have heard a lot. Blockchain technology is a modern new technology that is now being widely used in life. As a cutting-edge technology in the digital age, blockchain technology is actively promoting the overall development of digital industrialization. At the same time, it is also a nationally certified emerging industry of strategic significance. The current application scope of blockchain technology is still very wide. , the most typical application is digital currency, but now it is penetrating and spreading from digital currency to non-financial fields. So what exactly is this blockchain technology used for? Let the editor of the currency circle introduce to you the application prospects of this blockchain technology.

 What is the use of blockchain technology?

The first is blockchain digital currency, the second is blockchain payment and clearing, and the third is blockchain bank credit reporting. The development of blockchain technology is still in its infancy, and there are still some technical deficiencies that are difficult to overcome, hindering the application of this technology in different fields. However, as this technology and related supporting technologies mature, blockchain technology will definitely be widely used, profoundly affecting people's behavior patterns on the Internet and cooperation patterns between enterprises.

1. Blockchain digital currency: In the future, once the blockchain credit system is adopted globally, digital currency is likely to become a mainstream payment method.

2. Blockchain payment and clearing: If a universal distributed inter-bank financial transaction protocol is built based on blockchain technology, cross-border payment and clearing services will be provided for users, and cross-border payments will be convenient and low-cost.

3. Blockchain bank credit reporting: In this field, the advantage of blockchain is that it relies on program algorithms to automatically record massive information and store it on every computer in the blockchain network. The information is transparent, difficult to tamper with, and easy to use. low cost.

 Blockchain technology application prospects

The market prospects of "blockchain technology" are still quite broad. Blockchain is based on point-to-point and uses a chained data structure to verify and store data. It is equivalent to a distributed shared ledger and database. It has the characteristics of decentralization, non-tampering, full traces, traceability, collective maintenance, openness and transparency, etc. . It ensures the "honesty" and "transparency" of the blockchain and lays the foundation for the creation of trust in the blockchain. The rich application scenarios of the blockchain are basically based on the blockchain's ability to solve the problem of information asymmetry and realize multiple subjects. collaborative trust and concerted action.

The e-government systems developed in some provinces based on blockchain have connected government departments such as public security, civil affairs, taxation, real estate, human resources and social security, and are widely used in many fields such as technology finance, intellectual property, and electronic certificate deposits.

With the "high-speed" development of blockchain, market entities are still in their infancy. However, with the continuous strengthening of industry support and technology, the scale of my country's blockchain industry continues to expand. According to relevant statistics, the market size of China's blockchain industry was only about 100 million yuan in 2016, and increased to 1.2 billion in 2019. There have been so many increases in a short period of time, and the market size will only grow by leaps and bounds in the future.

Despite the rapid development, there are also some problems hindering it, such as insufficient professional talents and inconsistent technical standards. There are also problems with the deep integration of blockchain and supply chain finance. Although the underlying technology of blockchain is supported by the state, it is not universally recognized. People who do blockchain and those who do supply chain do not necessarily understand each other's technology and models, making blockchain technology not well applied. in supply chain finance.

For example, supply chain finance provides multi-faceted financing services to small, medium and micro enterprises. The technical support, standardization work, business model exploration and even supervision required for the integration of blockchain cannot be solved overnight.

At present, blockchain training is mostly found in large enterprises, and there are still relatively few small enterprises. There is a huge talent gap. Moreover, the current blockchain is basically integrated with traditional industries and does not yet have the conditions to become an independent industry. This requires high-quality compound talents with business and industry cross-border capabilities. However, there is an obvious shortage of domestic blockchain talents.

The above content is the specific elaboration of the editor of the currency circle on the use of blockchain technology. In fact, from a technical perspective, blockchain, as a new technology, has great appeal in various applications. However, the development of blockchain technology is still in its early stages. It is important to know that any new Technology can encounter teething problems. Although the security and reliability of blockchain technology are very good, it is still unknown whether blockchain technology can be adopted on a large scale in new industries. Therefore, the use of blockchain technology should be an evolution rather than a revolution. It also takes a relatively long time for him to have an impact on the way transactions are conducted.