The advent of the Internet has created many wonders and wealth. Almost all the internet trade need to use the qualified third-party credit institutions to handle the payment purpose. These systems are still subject to “ Models that are based on credit.”. The digital assets derived from the blockchain are subverting the third-party credit institutions and facilitating direct payment without the involvement of third parties.
Blockchain is a distributed ledger, it is a technical scheme to maintain a reliable database collectively by using a decentralize and distrust way.
Blockchain is the result of the integration of a variety of technical other than a single technical. These techniques are combined in new structures to form a new way of recording, storing and expressing data.
Anyone can participate in the blockchain network, each equipment can be used as a code and each node is allowed to obtain a complete copy of the database. The failure or attack of each node does not affect the continuous operation of the entire blockchain environment.
Many nodes make up an end-to-end network which does not include centralizing equipment or management mechanism. The nodes are verified by digital signatures without mutual trust.
Then the node will propagate and record the data in the nodes of the entire network, the data will never lost and can be traced back, and deception cannot exists between nodes. All the nodes anonymous for mutual trust is not needed between them and they don’t need to public their identity.
The purpose of the application of block chain is to construct a trusted distributed business ecological environment that can realize both self-circulation and expand outwards. It can help millions of physical retailers to open online traffic and offline experiences, and a innovative blockchain business system that combines new retail, new payment, new media together. The subordinate of Winner Dynasty Group, Tiandi Jinghua Chain Store has applied blockchain technology since the initial stage after it was founded. Advanced Pos systems have been installed in each physical store, and the system of more than 200 physical stores provides the fastest and accurate detailed data recently, which enables the managers and operators to speed up the judgment and decision-making on the market by the sharing of data. Physical stores are like the codes of blockchain that can provide the latest information of various markets at any time, and complete the cyclical development of the ecology system of the enterprise of Winner Dynasty Group.
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