Research On The Application Of Blockchain Technology In The Financial Field

With the development and application of new information technology today,the entire society is entering the Internet era.The business,product and service models in the traditional financial sector represented by banks and credit have gradually been unable to meet the needs of people' s daily lives,and are subject to new emerging trends.The impact of the new Internet financial application model characterized by lightweight and online services has greatly lost the market share,business transaction flow and customer resources of traditional financial institutions.How can the entire financial market rationally apply existing information?Technology iteratively upgrades traditional business products,realizes the organizational structure adjustment of financial institutions and optimizes products and services,and solves the current business pain points of serious centralization,opaque transaction information,and difficulty in establishing customer credit in the financial industry that have gradually become research hotspots.The decentralization of blockchain technology,the immutability of information on the chain,and the trust and co-governance of the entire network nodes provide ideas and technical support for the Internet transformation of the entire financial field.This paper starts with the technical characteristics of the blockchain,and analyzes and understands the entire process of data on the blockchain in the blockchain according to the classification,characteristics and technical principles of the blockchain technology,as well as the combination of blockchain technology through cryptographic algorithms,consensus mechanisms and other technologies.To realize the consensus recognition of the information on the chain by the nodes of the whole network,and to ensure the immutability of data and the credit consensus of the whole network transaction.Then,according to the specific application of blockchain technology in the financial fields such as bank credit,the positive effect of blockchain technology on the optimization and transformation of traditional financial business is analyzed.Finally,based on the financial project of the Xiong' an Free Trade Zone,a set of financial product recommendation system was designed and implemented,mainly for the current financial industry with a wide range of products,long bank loan business processes,and complex business pain points,providing financial product recommendations for small,medium and micro enterprises Services,build user portraits based on customer historical transaction data,and use collaborative filtering recommendations to generate financial product recommendation sequences,helping small,medium and micro enterprises to accurately and quickly obtain the financial products they want from a large number of financial products and complete credit applications.It provides a personalized financial product recommendation service for different companies,which has a positive meaning for optimizing corporate consumption experience,improving corporate loyalty,and increasing revenue generation of financial institutions.