Advertisement

Application and Challenges of Blockchain Technology to Big Data-Based Credit Reference in China

  • Cheng-yong LiuEmail author
  • Cheng ChenEmail author
Conference paper
Part of the Lecture Notes of the Institute for Computer Sciences, Social Informatics and Telecommunications Engineering book series (LNICST, volume 264)

Abstract

Big data-based credit reference gradually attracts wide attention due to its ad-vantages in remedying the shortages of traditional credit reference and dealing with new challenges arising from financial credit management. Nevertheless, this new method is also adapted through different studies and experiments to be problematic with island of credit information and information security. Some researchers begin exploring the possibility of applying blockchain technology to the individual credit reference field. The business links in the individual credit reference can be innovated through the blockchain mechanism so that credit data from different industries get collected through peering points, secure communication and anonymous protection on the basis of such techniques as distributed storage, point-to-point transmission, consensus mechanism and encryption algorithm. In this way, it is feasible to solve island of information and enhance the protection of user information security. A promising future can be expected about the big data-based credit reference, but there are also many problems with blockchain-based credit reference in China.

Keywords

Big data Blockchain Credit reference Islands of information 

Notes

Acknowledgement

The paper is a periodical achievement of the 2018 school-supported scientific research program A Study on Liability Theories about Insider Trading of Financial Derivatives of Beijing Institute of Technology, Zhuhai (XK-2018-19).

References

  1. 1.
    Xinhai, L.: Dingwei: application of big data-based credit reference and the revelation–with American internet financial company zestfinance as an example. Tsinghua Financ. Rev. 10, 98 (2014)Google Scholar
  2. 2.
    Mingsheng, S.: A study of big data credit reporting and the protection of personal information subjects’ rights and interests. Credit Ref. 5(220), 38–39 (2017)Google Scholar
  3. 3.
    Yongqian, T.: Wang Xiaotian. Improvement of legislation about individual credit information against big data background, China internet 5, 43 (2017)Google Scholar
  4. 4.
    Qiang, W., Sude, Q., Jieru, B.: Discussion about application of blockchain to credit service industry. Telecommun. Netw. Technol. 6, 38 (2017)Google Scholar
  5. 5.
    Guomao, S., Meng, L.: A study on application of blockchain technology to individual credit field–based on digital inclusive finance perspective. Stud. Corp. Financ. 1(15), 121 (2017)Google Scholar
  6. 6.
    Tong, L., et al.: Hadoop-based visual deep web acquisition platform design. Comput. Eng. Sci. 2, 217–233 (2016)Google Scholar
  7. 7.
    Liu, Y., Chenghuan, Z.: Scrapy-based deep web crawler study. Eng. Res. Appl. 7, 112 (2017)Google Scholar
  8. 8.
    Harper, J.: Reputation under regulation: the fair credit reporting act at 40 and lessons for the internet privacy debate, cato institute policy analysis, No. 690. https://ssrn.com/abstract=2033360 (2011). Last accessed 8 May 2018
  9. 9.
    Jie, H.: Application of blockchain technology and smart contract in intellectual property determination and transaction and corresponding laws and regulations. Intel. Prop. 2, 14–15 (2018)Google Scholar
  10. 10.
    Hailong, W., et al.: Rights ascertainment plan for big data in blockchain. Comput. Sci. 2, 16–17 (2018)Google Scholar
  11. 11.
    China blockchain technology and industrial development forum: china blockchain technology and application progress whitepaper, released at the website of Informatization and Software Service Industry Office, Ministry of Industry and Informatization (in October of 2016) http://www.gongxiangxueshe.com/forum.php?mod=attachment&aid=NzkwfGJlOGNlNjZifDE0Nzc0NjcxMzJ8Mjg5OXw2OTc3 (2016). Last accessed 8 May 2018
  12. 12.
    Zhongbin, Z., Yansong, L.: Application practice of blockchain technology to credit service industry and future prospect. Credit Ref. 7(222), 47 (2017)Google Scholar
  13. 13.
    Chunming, T., Long, G.: Multi-parties key agreement protocol in block chain. Netinfo Secur. 12, 19 (2017)Google Scholar
  14. 14.
    Desheng, L., Jianping, G., Yibin, D.: A tentative discussion about the application of blockchain technology to book copyright protection. Science-Technology & Publication, vol. 6, p. 77 (2017)Google Scholar
  15. 15.
    GXB data exchange: GXB Dapp whitepaper, released by GXB website. http://static.gxb.io/files/GXS_Dapp_Whitepaper_V1.0.pdf (2016). Last accessed 8 May 2018
  16. 16.
    Yong, Z., Xiaohui, L.: Study on and achievement of an improved blockchain consensus mechanism. Electron. Des. Eng. 1, 38–39 (2018)Google Scholar
  17. 17.
    Cloud prism credit: blockchain credit service released at. http://www.yintongzhengxin.com/blockchain/index.html?ver=17.5.107. Last accessed 8 May 2018
  18. 18.
    Linming, G., Shundong, L., Jiawei, D., Yimin, G., Daoshun, W.: Homomorphic encryption scheme and a protocol on secure computing a line by two private points. J. Softw. 12, 3275 (2017)MathSciNetzbMATHGoogle Scholar
  19. 19.
    Xian, Z., Yuzhao, J., Ying, Y.: A glimpse at blockchain: from the perspective of privacy. J. Inf. Secur. Res. 11, 985 (2017)Google Scholar
  20. 20.
    Kang, L., Yi, S., Jun, Z., Jun, L., Jihua, Z., Zhongcheng, L.: Technical challenges in applying zero-knowledge proof to blockchain. Big Data 1, 59–60 (2018)Google Scholar
  21. 21.
    Huaqun, W., Tao, W.: Cryptography on blockchain. J. Nanjing Univ. Posts Telecommun. (Nat. Sci.) 6, 64–65(2017)Google Scholar
  22. 22.
    Ruijue, Z.: Legal supervision of blockchain technology. J. Beijing Univ. Posts Telecommun. (Soc. Sci.) 3, 39–43 (2017)Google Scholar
  23. 23.
    Si, Z.: The Technology Principle, Application and Suggestion of Block Chain, Software, vol. 11, p. 52 (2016)Google Scholar
  24. 24.
    China National Standardization Management Committee: Information Security Technology–Baseline for Classified Protection of Information System Security (GB/T 22239-2008) (released in June of 2008). http://www.gb688.cn/bzgk/gb/newGbInfo?hcno=D13C8CD02AFC374BC31048590EB75445. Last accessed 8 May 2018

Copyright information

© ICST Institute for Computer Sciences, Social Informatics and Telecommunications Engineering 2019

Authors and Affiliations

  1. 1.Beijing Institute of TechnologyZhuhaiPeople’s Republic of China
  2. 2.Taiwan UniversityTaipeiChina

Personalised recommendations