Application Of Blockchain Technology In Risk Management Of We Bank Credit Business

The novel coronavirus pneumonia outbreak in 2020 has brought great impact to China’s economy,and its influence is deeply affected by all walks of life.The asset quality and profit margin of commercial banks were affected to varying degrees.Commercial banks need to speed up technological innovation to help enterprises tide over difficulties while actively adopting innovative and reasonable risk management and control technologies to reduce their own credit risk.With the development of financial technology,due to blockchain technology decentralized,distributed accounting,consensus mechanism,and non tampering characteristics.It’s provides a new solution for commercial banks’ credit risk management.Applying the blockchain technology to the credit risk management of commercial banks,commercial banks use the blockchain technology to monitor the whole process of credit business in real time,which can greatly reduce the risk in credit business.This paper takes the application of blockchain technology in the credit risk management of We Bank as a case.Firstly,by comparing the blockchain technology in the credit business of We Bank and the credit business of MYbank,we found the advantages of blockchain technology;Then,the existing risk problems of We Bank are analyzed,and the application of blockchain technology in the risk management of credit business of We Bank is described from 3aspects: credit risk management,operational risk management and data risk management,Finally,compared the blockchain risk control with big data risk control of Internet financial platform,pointed out the problems of blockchain technology,and put forward targeted suggestions.From the research on the application of the blockchain technology of We Bank in credit risk management,it is found that although We Bank has built a core distributed architecture system and inter agency reconciliation system based on the blockchain technology,it has also realized the risk management of the credit business of We Bank based on the joint loan model by using these 2 systems,effectively reducing the risks of the We Bank,However,blockchain technology is a new technology after all,and the related technology and supporting ecology are not yet perfect.Although the model of blockchain + credit risk control has a broad development prospect,it still needs a lot of financial support to promote the innovation of blockchain technology.However,the innovation and development of blockchain technology is of great significance to the development of bank risk control and even the real economy.