Blockchain privacy computing: services and financial research

Recently, Mo Xiaokang, Director of Blockchain and Personal Data Research Center at Beijing Big Data Research Institute, highlighted the current problems in the blockchain market on the 1024 Programmer's Day: In commercial applications, we cannot not engage in deep business because confidentiality matters are important and not optional. "

Because the blockchain has the characteristics of openness, visibility and overall identification of the node, it means that the information of the chain passes through each node, which is very convenient for the information of the users, but also for the direct disclosure of personal information. . So, in the process of the blockchain industry, the use of information and privacy has become a pair of joint ventures, but Mo Xiaokang noted that counting data can solve this problem. for

1.How Blockchain Privacy Computing Works

Currently, in the application of blockchain technology, care is taken to protect data privacy, in general, there are two ways to protect private user data, one is to desensitize the data and send to string, the other is to encrypt the data and string. Download the.

However, the desensitization process can result in incomplete data. Encryption technology requires decrypting the data after receiving it, and when data encrypted using big data is processed on the blockchain, the big data has a major impact on the analysis. However, confidentiality does not affect the performance of identifying large files, and unlike encryption technology, it makes data "available and invisible" and the integrity of managed data compared to desensitization technology.

Privacy is not new and technologically advanced, but a broad concept. Currently, traditional privacy computer technology is divided into three main sections. The third group is proprietary technology based on trusted hardware, represented by a reliable working environment.

In applications coupled to the blockchain, the counting of personal data is carried out on the 2nd layer of the blockchain (i.e. the approval of the chain and the out-chain, generally responsible for the transmission information in the blockchain). Contract). and special operations) are chained. for

In other words, it does not directly improve the data functioning and privacy of the blockchain by bypassing any of the items that were completed when exiting the chain, keeping only the proof of the chains. Connecting the off-chain IT network, the blockchain focuses on the integrity of the business logic and the flow of certification members, while the off-chain private IT network is responsible for a lot of work and valuable information.

2.Status and Review of Blockchain Privacy Computing Cases

To date, 132 new technology applications have been reported nationwide, of which 35 applications include blockchain technology, 19 applications include personal information 6 including both.

The data shows that new technologies and financing are mainly loans, and that the target is SMEs and small businesses. The emphasis on buying loans for SMEs and small business owners is due to the fact that the financial issues have not been properly addressed in the current situation.

The problem is that for information security and business privacy, financial companies block each other's data, build their own walls, lack trust and refuse to provide data, so that the accuracy of risk management metrics of users is low. Therefore, good SMEs lack direct multidimensional data proof and struggle to prove the veracity of their track record and ability to pay their debts. In addition, financial companies have collapsed and it is difficult to establish precise scores for companies based on missing data. In the meantime, blockchain privacy counters may provide better solutions for the secure sharing of on-chain data when there is no snooping on the data content.

According to the data, the main distribution areas of blockchain privacy Chinese financial technology are the regions of Jiangsu, Zhejiang and Shanghai. According to the 4th National Economic Census, the top three national and medium-sized enterprise zones are Guangdong (14.3% of the country) and Jiangsu (14.3% of the country). 9.4%) and Shandong. (National) 8.3% of the total). This means that Guangdong and Shandong still have a large distribution of small and medium enterprises (SMEs) in these regions, which will make it difficult to raise funds, which means that there is a demand for blockchain privacy solutions.

Besides the new uses of open financial services, there are many examples of Chinese private blockchain in the market, and the direction is not limited to lending. For example, Ant Blockchain Technology (Shanghai) Co., Ltd. funding used, public health, online finance, Hangzhou Funchain Technology Co., Ltd. financial and government services, Unicom Digital Technology Co., Ltd. used the case. in finance and communication. for

In addition, the “Private Computing and Blockchain Technology Convergence Report” released in July this year also presented a number of application scenarios and solutions for Chinese private blockchain.

Blockchain privacy accounts can be applied to many areas, and for banks, integrating blockchain privacy accounts into applications such as the financial chain, financial transactions, payments, and solutions. , and wealth management can work in cross-border and cross-border commerce and commerce. Effective performance can improve the security of personal information and increase awareness of administrative and non-administrative management resources.

Three.Contents

At the China International FinTech Forum in September this year, Li Xingpeng, vice president of financial institutions in China's science and technology department, pointed out that the "Data Security Law" and the "Data Security Law" protection of personal information ”must be applied. It identifies red lines, specifies details, and helps control compliance with data processing. At the same time, use "new ways" such as security integration, government training, and onboarding to supplement the available and invisible information, and share the information security of schools, colleges, businesses and administrators.

At the same time, Fan Yifei, vice president of the People's Bank of China, wrote an article in October on four key issues: strengthening data governance, supporting data sharing, deep data recovery and data protection. Among them, it is important to ensure that the data is accessible and invisible, and that the data is not invalid. for

In an era of increasing privacy protection, the biggest challenge for using blockchain is finding the right data for personal protection. Now, the international community sees that blockchain in banking is in a period of low bubble, but it also wants to enter a period of continuous ups and downs. Applications combined with Chinese privacy may be a key factor in the resumption of blockchain in the financial industry.