A Research On The Influence Of Blockchain Technology On Bill Business In China And Countermeasures

Bill business in our country has been developing for more than thirty years,and has become riper,and the size of bill market has become huge.It plays a more and more important role in our financial market system.But as the subjects of the market become varied,and the innovation of the business types comes in,it has become hard to control the risk of the bill business,and it sounds the alarm that a number of vicious events in the bill market occurs.We are starting to find if there is any possibility to improve the condition of the bill market by a new way besides perfecting the system.Seminar of the digital cash which is holding by the people's Bank of China successfully convened in Beijing,and showed us a new technology named Blockchain.Combining Blockchain technology with our bill business contributes to the standardization and transparency of the bill market,so that it can serve the real economy and macro-control more effectively.It has high research value and extensive research prospect.First of all,combining with the characteristics of Blockchain technology,the advantages of Blockchain technology are analyzed,and existing risks in bill business are analyzed subsequently.Blockchain is a data structure that store the data as a block and chains them in chronological order,and it is also a distributed shared ledger that using cryptography to ensure the safety of its data.It has the advantage of decentralized,trust less,time stamp,asymmetric cryptography and intelligent contract,which is useful in preventing the four kinds of risks of bill business.Then,with examples,this paper focuses on the reform of Blockchain technology to our traditional bill business,including the application in the operations of acceptance,circulation and collection,and three key problems that need to be solved are discussed,and answered with the case,including how to make the Blockchain technology's asymmetric key to meet the requirements of theNational Commercial Cryptography authority,and how to ensure the confidentiality of customer information in the network supported by Blockchain technology,and how to realized the capability of bank which can not be replaced by Blockchain technology in traditional bill business.In the end,taking the construction of trading platform of digital bill in our country into account,the paper summarized the way of how to reform our bill business by Blockchain,at the same time,some problems that must be solved in order to realize the wide application of Blockchain technology are put forward,like Impossible Triangle problem of Blockchain technology,and the practical problems that digital bills will face.