The Improvement Of The Block Chain Management Model Of CITIC Securities

Internet fianance has changed the traditional financial industry,and has constantly created new business models.As a branch of Internet,the core idea of Internet finance is the same as the Internet,and the essence lies in "decentralization".The center can be understood as an intermediary.While the intermediary completes the credit endorsement of both parties,it can also lead to greater costs and risks.With the innovation of the Internet replacing the intermediary and creating simpler process constantly,both sides of the intermediary can exchange value more directly.In the system,it is the decentralized structure,however,outside the system,it becomes a bigger intermediary itself by replacing many mediationsBlock chain is now the most advanced mode of decentration and Bitcoins are the excellent products of block chain technology.Block chain has been generalized from the core principle of Bitcoins to a thinking mode that can be applied to all walks of life.In the financial sector,block chain can replace all financial intermediation theoretically and become a huge global system.At present,the application of block chain,however,is still in the phase of trial and errorAs one of the mainstream companies in the financial industry,Citic Securities has been constantly reforming and exploring the Internet finance.The block chain,an influential and advanced financial model,should be the subject of researchThe paper gives a brief review of literatures relating to the block chain and gives an overview of related concepts of internet finance and current situation of internet finance in the company.Several existing problems are pointed out,which is cumbersome workflow and excessive financial intermediations,focusing on asset security which is hard to guarantee in the asset securitization;complex formalities for examination and approval of securities issuance;trivial and inefficient settlement transactions;the interests of small shareholders which is hard to protect when shareholders voting.The paper presents targeted improvement plan,taking decentralization and simplified process as the principle and target.Four major tasks for reform have been put forward,including asset securitization,securities issuance and transactions,clearance and settlement,shareholder voting.The plan and implement guarantee have been given.