金融界：區塊鏈技術將如何影響金融業？區塊鏈是否有可能重塑我們的金融服務業？您認為我們對區塊鏈技術在金融行業的大規模應用有多長時間了？

Morgane：瞻博網絡認為區塊鏈對金融服務存在多種多樣的影響。例如，在金融結算中引入區塊鏈技術可以實現更加標準化的流程，降低錯誤風險，同時可以提供安全、分散而透明的金融環境。這尤其適用于資金轉移領域，該區域已經推出了一些區塊鏈驅動的網絡體系。

但是，瞻博網絡認為，區塊鏈對金融服務產生最大的影響將來自于其節約成本的潛力。盡管文書工作的減少將對金融部門產生積極的影響，但是大幅度的資金節省來自于的合規和信用記錄。預計到2030年，通過應用區塊鏈技術，銀行每年可節省近270億美元。

盡管金融機構已經開始對區塊鏈應用表現出興趣，包括金融結算，數字貨幣，智能合約和物聯網支付方面的案例，但是瞻博網絡認為整個金融領域距離大規模采用區塊鏈技術還有一段時間。簡而言之，金融機構仍然在研究區塊鏈應用于金融機構的潛力，部分原因是由于缺乏協同性，可擴展性問題以及缺乏明確的法律規定。應用中存在挑戰，上面只列舉了一些，都阻礙著該技術的發展。

瞻博網絡預計，2024年后金融機構將節省數額客觀的成本，而區塊鏈技術將在2030年后變得越來越普遍。

金融界：比特幣和加密貨幣如何影響金融體系？他們會改變現有貨幣的地位嗎？你認為加密貨幣的未來會怎樣？

Morgane：在某種程度上，加密貨幣可以重塑貸款領域的金融體系，因為這樣消費者在需要貸款時不必去傳統銀行。這是緣于以加密貨幣為基礎的P2P網絡的出現，其中借貸平臺將借款人與在平臺上注冊的貸方網絡相匹配。除P2P借貸外，許多中央銀行，如瑞典瑞典央行和丹麥中央銀行，正在探索區塊鏈技術是否可用于創建和發行DFC（法定數字貨幣）。法定數字貨幣的出現可以提高透明度，減少欺詐，實現即時結算并創建一個普遍接受和可互操作的支付工具。在用于國際匯款的新的IBM Blockchain World Wire系統中，一系列“穩定貨幣”被用來以更有效的方式處理跨境支付。

關于加密貨幣的未來存在很多爭論。雖然比特幣近年來遭受了許多批評，但它的出線激發了其他加密貨幣（如Litecoin或Ripple）的發展。瞻博網絡認為，加密貨幣在促進支付方面具有巨大潛力，因為它們可以降低成本，同時提高透明度和速度。然而，瞻博網絡認為加密貨幣距離成為法定貨幣有很遠的距離，因為它們目前仍然不穩定，并且與欺詐、黑客和丑聞有關。

金融界：在金融科技的發展中，是否有難以打破的技術瓶頸？在實際應用中又有哪些限制？

Morgane：區塊鏈在金融領域的應用面臨許多挑戰。首先，區塊鏈具有互操作性問題，因為它與銀行已經使用的不同系統不兼容。這既是技術的挑戰，也是思維模式的挑戰，已建立的業務實踐有時難以分解。其次，金融機構將需要使用私有區塊鏈，這需要進一步技術發展以滿足數據隱私和保護要求。此外，使用的平臺需要足夠強大以支持多種安全協議（例如權限和訪問許可），以保護整個網絡免受潛在攻擊，并將不同部分的訪問全新分配給不同的員工。此外，區塊鏈技術仍然缺少金融機構廣泛采用的國際和國家法規。最后，也是最大的障礙，區塊鏈技術仍然存在可擴展性問題。雖然正在通過Hyperledger Fabric或Ethereum Plasma等解決方案逐步增加網絡可以支持的交易數量，但該技術仍遠未能夠處理金融機構處理的大量數據。

金融界：存儲在區塊鏈上的信息是否安全？這種分散存儲更有可能將人們的隱私暴露給潛在的風險嗎？有哪些技術解決方案？

Morgane：區塊鏈空間的安全性很難定義。雖然區塊鏈的分散協議使得黑客更難獲取加密貨幣或信息，但這并不意味著不可能。黑客目前正在開發竊取加密貨幣或信息的創造性方法。例如，在智能合約這個例子里，區塊鏈上存儲的信息安全程度首先取決于承銷這些合約的代碼的強度。這帶來了嚴重的安全威脅，因為代碼過去存在缺陷。例如，由于其代碼漏洞，DAO（分散自治組織）在2016年遭到黑客入侵。除非離線操作，因此區塊鏈錢包面臨與非區塊鏈系統相同的安全問題。過去幾年中發生的幾起引人注目的比特幣盜竊事件說明了這種情況，最近一起發生是2019年在賓夕法尼亞州的大規模黑客攻擊，有價值4千萬美元的比特幣被盜。

雖然區塊鏈平臺可以找到這些新攻擊的解決方案，但這些方案基本上是在已經發生攻擊之后實施的。為了先行防止這些攻擊，區塊鏈平臺需要對其鏈條進行全面的風險評估，識別并對潛在的弱點進行操作。

出品人：巫云峰

監制：胡雯

主筆：鮑方

編輯：張熙

05對話實錄

JRJ：How will blockchain technology affect the financial industry? Is it possible that blockchain will reshape our financial service industry?How long do you think we are from the large-scale application of blockchain technology in the financial industry?

Morgane：Juniper sees the impacts of blockchain in financial services as many and diverse. For example, the introduction of blockchain technology in financial settlements enables more standardisation and reduces risks of error, while providing a safe, decentralised and transparent financial environment. This is particularly applicable in the money transfer area, which has witnessed the launch of several blockchain-powered networks.

However, Juniper believes that blockchain will have the most impact in financial services through its cost-saving potential. Even though paperwork reduction will positively impact the financial sector, great savings will come from compliance and credit history with banks expected to save close to $27 billion a year by 2030 through blockchain implementation.

While financial institutions have begun to show interest in blockchain applications, with examples found across financial settlements, digital currencies, smart contracts and IoT payments, Juniper believes that the financial sector as a whole is still some time away from a mass adoption of blockchain technology. Simply put, financial institutions are still scratching the surface of the potential of blockchain in financial institutions, partly due to the fact that several challenges, such as lack of interoperability, scalability issues and lack of legal clarity around its use, only to name a few, are still hindering the development of the technology.

Juniper expects considerable savings to be realised after 2024 with the technology becoming more common after 2030.

JRJ: How do they influence the financial system?Will they change the status of present currency?What do you think the future of cryptocurrencies will be like?

Morgane：Cryptocurrencies can, to some extent, reshape the financial system in the lending space, as consumers are not forced to go to traditional banks if they need loans. This is because of the emergence of several  peer-to-peer networks based on cryptocurrencies, where lending platforms match borrowers to a network of lenders registered on a platform. In addition to P2P lending, many central banks, such as the Swedish Riksbank and Denmark’s Central Bank, are exploring whether blockchain technology can be used to create and issue DFC (Digital Fiat Currency), which would improve transparency, reduce fraud, enable instant settlement and create a universally acceptable and interoperable payment instrument. In the new IBM Blockchain World Wire system for international money transfer, a series of ‘stablecoins’ are used to process cross border payments in a much more efficient way.

There is much debate regarding the future of cryptocurrencies. While Bitcoin has been suffered many criticisms in recent years, its creation has inspired the development of other cryptocurrencies such as Litecoin or Ripple. Juniper believes that cryptocurrencies have tremendous potential when it comes to facilitating payments as they can lower costs, whilst increasing transparency and speed. However, Juniper believes that cryptocurrencies are very far from becoming fiat currencies, as they are still largely unstable and associated with fraud, hacks and scandals.

JRJ：In the development of Fintech, is there any technical bottleneck difficult to break? Meanwhile, is there any limitation in practical applications?

Morgane：There are many challenges in the application of blockchain in the financial sector. Firstly, blockchain has interoperability issues insofar as it is not compatible with different systems already used by banks. This is as much a challenge of mindset as it is technology, with established business practices sometimes difficult to break down. Secondly, FIs will need to use private blockchains, which require further development, in order to meet data privacy and protection requirements. Moreover, platforms used by FIs need to be powerful enough to support multiple security protocols (eg permissioned and permissionless access) protecting the overall network from potential attacks and attributing different section accesses to different members of staff. Additionally, blockchain technology is still missing the international and national regulations needed to be widely adopted by FIs. Finally, and probably the biggest hurdle of all, blockchain technology still has scalability issues. While progress is being made to increase the number of transactions a network can support every second, with solutions such as Hyperledger Fabric or Ethereum Plasma, the technology is still far from being able to handle the large volumes of data with which FIs deal.

JRJ：Is the information stored on the blockchain safe?Will this type of decentralized storage more likely to expose people's privacy to potential risk?What are the technical solutions?

Morgane：Security in the blockchain space is very hard to define. While blockchain’s decentralisation protocols makes it harder to hackers to obtain cryptocurrency or information, it doesn’t mean that it is impossible. Hackers are currently developing creative ways to steal cryptocurrency or information. For example, in the case of smart contracts, the information stored on blockchain is subject to the strength of the code underwriting these contracts in the first place. This poses serious security threats as codes have contained flaws in the past. For example, the DAO (Decentralized Autonomous Organisation) was hacked in 2016 due to loopholes in its code. Unless operating offline, blockchain wallets are therefore facing the same security issues as non-blockchain systems. This is illustrated by the several high-profile bitcoin thefts that have been occurring for the past years, with the most recent seeing $40 million worth of bitcoin stolen from Binance following a large-scale hack in 2019.

While blockchain platforms can find solutions to these new hacks, these are mostly put in place after attacks have already occurred, on a ‘lesson learnt’ basis. To prevent these attacks in the first place, blockchain platforms need to carry out a complete risk assessment of their chains, identifying and acting on potential weak spots.