It is reported that U.S. local blockchain startup Factom Corporation has announced that it will cooperate with DATAYES to publish more than 3,000 of the most valuable Chinese stock price data on the blockchain in real time. In this way, developers in the financial sector have a new tool for connecting financial applications and blockchain technology.
There have been industry insiders like Lei Fengwang (searching "Lei Feng Net" public concern) that the huge and ever-expanding data set in the financial data field has now exceeded 10 million records. With the development of intelligent investment advice or other quantitative financial science and technology fields, if these data are not processed transparently and reliably, it will greatly hinder financial technology. Therefore, the industry is also accelerating the transparency and reliability of data in various ways and promoting the verification and audit of price data in the financial system.
Zhang Zeen, president of Factom China, said that providing the price data of these companies to global blockchain developers will help them achieve the development of applications and financial products. Because at present, many listed companies in China already have global leadership, and the influence of China's stock market on the global economy has also been greatly improved.
With regard to the storage of financial data at this stage, storage data is divided into two processes on the blockchain. First, the exchange publishes market prices and changes, and then records it on the blockchain. As the blockchain technology matures, price data will be directly recorded in the blockchain in the future, resulting in a shift from Mark to Market to Mark to Blockchain.
According to reports, through Factom's plan, enterprises and governments will also be able to effectively integrate traditional business information systems and solve indiscriminate modification and transparency of data through the verification methods of mathematical algorithm encryption technology.
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