The blockchain concept is once again hot, what is the exploration of the financial sector that is considered to have great potential for application scenarios? "Now the blockchain is in the air, and many people don't know that the banking department has already entered the market." A person in the East China region who is engaged in banking and financial technology told reporters.
At present, the bank camp using blockchain technology continues to grow, and more and more banks are competing to join the blockchain technology new track.
However, it is worth noting that the practical application of business scenarios and the shortage of talents will be a major constraint on the blockchain of financial institutions such as banks and insurance companies.
Layout "window period"
"At present, the efficiency, fraud and operational risks of various financial services are most likely to be solved after the application of blockchain technology. The reality is that no explosion product can represent product features, and business results are reflected in the underlying architecture. To improve efficiency, it is not to say that there is a comprehensive subversion. There are still many ways to go in the future," said the person who is engaged in banking and financial technology.
On October 18th, the official website of the State Internet Information Office disclosed the second batch of domestic blockchain information service filing list. Together with the first batch of lists, a total of 6 banks filed 14 services.
The above-mentioned people engaged in banking and financial technology told reporters: "The application of blockchain in banks is mainly focused on the construction of platforms and systems, and the efficiency of transaction and information processing is the most important. Different banks according to the characteristics of their own business and development needs, There are certain differences in specific applications."
The reporter searched for the “blockchain” keywords from more than 30 banks listed in the A-share market in 2019. A total of nearly 16 companies made some statements in the report, such as ICBC, Bank of China, Agricultural Bank, and other state-owned banks, relying on capital reserves. Deepen the strategy, build a joint innovation application laboratory and research and development base, and launch a blockchain service platform and other programs.
Some joint-stock banks have already entered the forefront of blockchain layout. For example, Ping An Bank (16.920, 0.06, 0.36%) relied on the scientific and technological strength of Ping An Group to explore product marketing and intelligent operation; Industrial Bank (19.830, 0.44, 2.27%) focused on innovations such as 5G and intelligent outlets; CITIC And Everbright also indicated that it will use technology such as blockchain to form a new model of accounts receivable financing.
Banks and banks such as Jiangsu Bank and Suzhou Bank are more likely to become pilot banks for the cross-border business blockchain service platform of the State Administration of Foreign Exchange, or to cooperate with local supervision and management departments to carry out blockchain scenarios. At the same time, Nanjing Bank, Guiyang Bank, etc. also have their own application of the blockchain in the industry, but it has not been specifically stated in the semi-annual report.
According to a research report by Tianfeng Securities, the world's major banks have begun to develop blockchain layouts in asset management, intermediary business and cross-border business. Specifically, in the asset business, the blockchain is mainly involved in the supply chain finance, mortgage and online loan financing; in the intermediate business, it is mainly reflected in the efficiency of the blockchain applied to digital bills; In terms of business, it is mainly represented by blockchain innovation in cross-border trade payments, domestic letters of credit and Forfeiting business and international factoring business.
A listed bank in Jiangsu is responsible for the payment business to describe to reporters the application of blockchain in cross-border business. He said frankly: "The previous personal cross-border transfer involves payment, banking and settlement networks. The efficiency of the three is not slow. But with the help of blockchain technology, process reengineering, it becomes the interface between payment and bank. Technology, in the cross-border remittance of transactions in the blockchain technology to report data to other participants, the process that originally required layer-by-layer transfer can now achieve multi-party collaborative parallelism, the time difference is reduced, resulting in efficient Solution."
At the same time, he said with emotion: "These applications are low-level and not known to outsiders. Even if the outside world is big, there is still much to be done in the blockchain technology to reach the subversive industry."
It is worth noting that the blockchain “national team” – the first anniversary of the first phase of the People’s Bank of China’s trade finance blockchain platform project, has achieved more than 30,000 business lines and more than 5,000 business transactions. The amount is about 75 billion yuan. It is mainly operated in a number of businesses, such as supply chain receivable multi-level financing, cross-border financing, international trade account supervision, and external payment tax filing form.
Blockchain talent gap
Financial circle practitioners may be the first to sniff a blockchain opportunity.
Zhang Mingran, who has worked in a blockchain company in Shanghai for 3 years and graduated from 211 University, told reporters: "I want to change jobs to financial institutions to make my resume more abundant. My career planning chooses All-in blockchain. I used to be a technical architect in an ordinary blockchain company, and my salary can reach the industry level, but in the long run, the science and technology positions in the transitional financial industry are more favorable."
Indeed, the blockchain is currently in the air, and various companies are recruiting people. The reporter can see from the recruitment website that the position is the technical manager of the blockchain, the technical experts can reach 70-100 million annual salary, and the working period should be more than 8 years. "At present, the blockchain talent market vacancies are actually high-end tops. Many companies prefer to pay high prices and don't want to miss talents." Zhang Mingran said.
However, in terms of traditional financial industries such as banking and insurance, the situation is slightly different. A person from a state-owned financial and financial science and technology department told reporters: "The blockchain practitioners' threshold is not as high as that of outsiders. Our internal IT staff can also smoothly transfer to blockchain application talents and outsourcing companies through training. The services provided are still met, and we will never lack the technical talents of high level and ability."
Li Wei, director of the Science and Technology Department of the central bank, also said at the Bund Financial Summit that in terms of the talent team, the total number of scientific and technological talents is small and the proportion is low. In particular, the leading talents and top talents of science and technology are seriously inadequate. According to the survey, most commercial banks account for less than 5% of science and technology personnel.
In addition, due to the current number of universities offering financial science-related courses, the long training period of talents, and the lack of practical experience of graduates, the supply of financial technology talents is seriously insufficient. The lack of talents has made the financial bank face a serious problem of “recruiting people”, “difficult to educate people” and “difficult to retain people”, restricting its intelligent development.
MichaelPage, a global recruitment consultancy, pointed out in the "2018 China Financial Technology Recruitment Trends" report that the total gap of domestic financial technology talents is as high as 1.5 million. However, with the deep integration of new technologies such as artificial intelligence, big data, blockchain and financial services, financial technology has become the trend of the global financial industry, and the demand for talents has also increased dramatically. "At present, the most scarce thing in the industry is not programmers, but industry researchers. For all companies that rely on blockchain, the most difficult thing is to find the scene of technology landing," said the person in the financial technology department of the state-owned big bank.