Large block chain manufacturers make efforts, small and medium-sized enterprises have no revenue
According to the "Securities Daily" review, in the first half of this year, most of the 262 blockchain concept stocks did not mention the term "blockchain." Among the companies mentioning blockchain, only 23 have actual applications, and the only company that specifically discloses business income is Yuanguang Software.
According to the annual report issued by Yuanguang Software for the first half of 2020, the company achieved operating income of RMB 648.8113 million, a year-on-year increase of 2.60%, and realized net profit attributable to shareholders of listed companies of RMB 81,890,100, a year-on-year increase of 1.97%. However, the revenue of the blockchain business decreased by 100% year-on-year, which means that the related revenue is zero. Yuanguang Software's blockchain business achieved revenue of 19,892,500 yuan last year, an increase of 3886.03% year-on-year. It is one of the few companies that achieve revenue on the blockchain.
For the reason why there was no revenue from the blockchain in the first half of this year, Yuanguang Software stated in the announcement, “The main reason is that due to the impact of the new crown epidemic, the time for customer project approval in the first half of the year was delayed, and the approval and bidding of projects under construction were relatively delayed. Revenue will be reflected in the second half of the year."
Revenue of Yuanguang Software's blockchain business, source: Yuanguang Software Semi-annual Report
During the reporting period, Yuanguang Software invested RMB 162,493,600 in R&D, an increase of 6.27% year-on-year, maintaining R&D expenditures, which accounted for more than 20% of total revenue, and focused on strengthening the research and development of blockchain and artificial intelligence technologies.
The report shows that in terms of blockchain technology, Yuanguang Software is conducting iterative research and development around security, performance, usability, and ease of use. The newly established blockchain enterprise application service platform V3.0 is in compliance with domestic regulations and is independent Technical routes including multi-consensus mechanisms, multi-level encryption mechanisms, privacy data protection, TEE trusted hardware, cross-chain, service governance, and other technical routes include multi-consensus mechanisms, multi-level encryption mechanisms, and service governance.
It is reported that Yuanguang Software ranked 46th in the global enterprise blockchain invention patent rankings (TOP100) in the first half of 2020, an increase of 28 places compared with 2019.
In terms of blockchain application, Yuanguang Software pays more attention to the application practice of blockchain technology in the fields of group management, smart energy, intelligent Internet of Things, digital society, etc., to create a blockchain "one platform, two ecology, and three systems". "One platform" refers to the blockchain enterprise application service platform, "two ecology" refers to the energy financial ecology and the Greater Bay Area public deposit ecology, and the "three systems" refers to the logistics traceability system, the bill voucher system and the settlement system.
In addition, Yuanguang Software also cooperates with State Grid E-commerce Company, Shanghai Electric Power, Hunan Electric Power, Shandong Electric Power, Henan Electric Power, China Southern Power Grid, Macau University of Science and Technology, China Financial Certification Center and other enterprises to pilot blockchain technology in supply chain finance. , Smart energy, smart education, electronic certificates, and traceability of certificates. During the epidemic, Yuanguang Software developed the blockchain donation management platform "Yishan Platform".
This is the case for only one company that dared to disclose the development of blockchain, and the situation of other companies is also conceivable.
The giants are still investing
Even so, this year, Alibaba, Tencent, Baidu and other giants continue to invest in blockchain.
On July 23, the Ant Blockchain was officially upgraded to "Ant Chain", mainly based on the BaaS platform and open consortium chain, providing services such as cross-chain data connection, distributed identity, and trusted computing.
It is reported that AntChain can support 1 billion account scale, 1 billion daily transaction volume, and 100,000 cross-chain message processing capabilities per second. The AntChain has more than 100 million times on the chain every day, and currently has more than 50 application scenarios, including supply chain finance, cross-border remittances, charitable donations, and commodity traceability.
On August 25, in the listing prospectus submitted by Ant Group to the Shanghai Stock Exchange Science and Technology Innovation Board, Ant Group stated that the Ant Chain business has been commercialized since 2019 and generated revenue, but the revenue contribution during the reporting period is still at a relatively low level . In addition, the number of global patent applications for ant's blockchain has also remained at the forefront throughout the year.
During the reporting period, Ant Group’s revenue, innovative business and others refer to the company’s multiple innovative technology services under the smart technology business, such as Antchain and financial cloud technology services, as well as administrative services provided to related parties such as Alibaba Group and Internet Banking And support services. Source: Ant Group Prospectus
Tencent Blockchain is mainly based on the blockchain service platform TBaaS, and mainly explores "blockchain +" industry solutions. Tencent recently released two major products, the underlying blockchain engine and the blockchain trusted computing platform.
As of April 2020, Tencent has submitted 1,300 blockchain patent applications, and it has made landing attempts in the fields of electronic invoices, supply chain finance, digital content protection, product traceability and anti-counterfeiting, medical prescription circulation, judicial deposits, and public welfare tracing. . Among them, Tencent has made significant achievements in blockchain electronic invoices. Public data shows that as of April 2020, the number of blockchain electronic invoices has exceeded 18 million, covering subways, taxis, real estate, financial insurance, and retailers. , Hotel and catering, Internet services and other sub-sectors.
Baidu, with the super chain as the core, has released different levels of blockchain products such as super chain BaaS and open network.
At present, the single chain of Baidu Superchain processes 87,000 TPS per second, and the overall network can reach 200,000 TPS. Baidu Super Chain already has more than 240 independent patents, all around the core underlying technology innovation, including super node architecture, in-chain parallel technology, returnable side chain technology and parallel chain management and other blockchain underlying technologies. At present, it has been implemented in the fields of medical care, finance, traceability, and justice.
Although Huawei has fewer external incidents than other giants, it has been silently exerting its efforts.
In September, Huawei released the Huawei Cloud blockchain service platform BCS2.0. BCS2.0 is based on Huawei's blockchain engine to support high-performance trusted consensus, achieves a single chain TPS of more than 50,000, large-scale networking of thousands of nodes, and supports parallel chain expansion.
Xu Feng, President of HUAWEI CLOUD Application Platform Product Line, summed up HUAWEI CLOUD's blockchain services as a "1+3+N" architecture. "1" is the service platform of HUAWEI CLOUD's blockchain, and "3" is Huawei's IoT and 5G. And data processing capabilities, "N" is the application.
According to the Huawei Blockchain White Paper, the overall concept of Huawei Blockchain is: focusing on typical application areas, taking the blockchain platform as the core, uniting the network and the trusted hardware execution environment (terminal + chip) to form a trinity end-to-end The blockchain framework realizes the combination of software + hardware and provides a faster and safer blockchain end-to-end solution.
The overall vision of Huawei's blockchain, source: Huawei's blockchain white paper
It is reported that since the commercialization of the Huawei Cloud blockchain service platform BCS in 2018, Huawei Cloud blockchain services have completed more than 70 pilot projects in seven major fields, including finance, logistics, government affairs, digital copyright, manufacturing, medical treatment, and energy.
There are still many large companies that are constantly exploring, but before that, Xiao Wei, the general manager of Baidu Blockchain, said in an interview with InfoQ that the current situation of fierce competition is far from being formed.
Business practice
Yao Jingyi, a partner of Fenbushi Capital, once divided the blockchain industry into three stages: the initial stage of technology investment, mainly to build the underlying structure, improve the infrastructure, and solve the problems of cloud and data on the chain. It is difficult to have direct economic benefits in the short term. ; In the period of platformization and productization, the digital ecology of leading companies has been formed, and the chain is open, and small and medium-sized enterprises have begun to enter; the last is the period of large-scale application, when the blockchain begins to maximize its value.
From the current situation, the leading companies are really gradually establishing their own ecosystems, and although most companies have been involved, many of them are mainly "hot spots", and they are not very good in terms of investment and economic benefits. Feedback. It is basically in the late stage of technology investment, but it is not yet a critical period of productization.
Accenture said in a recent report that each company has a different time to deploy blockchain, but the process is the same, but not all companies have the ability or need to continue to promote blockchain applications at this stage. From theory to practice, companies can practice the "four-step principle": First, understand the impact of ideas on business. Companies need to identify their most important pain points and opportunities. Second, consider the role of blockchain. Consider which characteristics of the blockchain can solve the identified pain points or opportunities, how to implement them, and how cost risks are. Third, determine the uniqueness of the blockchain solution. Finally, determine the point of value creation.
From concept to implementation, to commercial application, blockchain companies still have a long way to go. It is worth noting that today with favorable policies, local governments have strengthened their investment in blockchain and support for related enterprises. However, it is unavoidable that the investment and the unsatisfactory economic benefits were seen in the early stage.