国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Economy

Social security funds to use blockchain

By Cai Xiao (China Daily) Updated: 2016-09-04 10:29

Blockchain technology will be used in China's social security system because it can facilitate trade and lower transactions costs, according to Wang Zhongmin, vice-chairman of the National Council for Social Security Fund. "There's no doubt that blockchain technology will be used in the social security system because of its valuable applications in the investment and management of social security funds," he said.

Wang said blockchains can enable people to trade freely and lower transactions costs.

At the end of 2015, the National Council for Social Security Fund had 1.9 trillion yuan ($284.5 billion) in funds under management, increasing 24.6 percent year-on-year.

A revolutionary new technology, the blockchain, allows parties to carry out direct transactions without using an intermediary. It does so by providing a means for people to share reliable and tamper-proof lists of information known as distributed ledgers.

"To realize the full potential of blockchains, we will above all need to collaborate on a common platform. At UBS, we think it is essential that the industry avoid a standards war of the type that has bedeviled the adoption of new technologies in the past," said Axel Lehmann, chief operating officer for UBS Group.

Lehmann said the good news is that such collaboration is happening. There are already several significant large collaborative efforts. For example, many banks, including UBS, have been experimenting intensely with the technology and working with peers in open, collaborative ways.

At the moment, China's main initiative in the blockchain space is the China Ledger Alliance, a noncommercial organization focused on research and development of blockchain applications. Led by research and development company Wanxiang Blockchain Lab and similar in structure to international collaborations, it can be considered China's answer to the rapidly evolving blockchain ecosystem.

The aim of the alliance is to adapt and develop existing blockchain technology to the needs of Chinese businesses and set standards across the industry to ensure regulatory compliance in China's legal environment. The alliance counts 15 members, including both financial services firms and technology companies.

Early this year, China's central bank announced its investigation into digital currencies as an answer to the growing interest of Chinese investors in bitcoin and other crypto-currencies.

Hot Topics

Editor's Picks
...
龙口市| 报价| 长岭县| 瑞昌市| 济源市| 安丘市| 威海市| 涡阳县| 宝应县| 通辽市| 遵化市| 玉田县| 宜良县| 和平县| 南丰县| 延寿县| 山东| 弥渡县| 花垣县| 怀远县| 嘉兴市| 积石山| 夹江县| 永安市| 塔城市| 长沙市| 霍林郭勒市| 徐水县| 万宁市| 双鸭山市| 油尖旺区| 福海县| 广水市| 馆陶县| 广宁县| 延庆县| 樟树市| 芒康县| 常熟市| 汕头市| 苗栗市|