基于联盟区块链的债券登记托管和交易报告探索

A Proof-of-Concept System for Bonds Registration and Trading Report Using Consortium Blockchain

【目的】阐述我国债券市场现状,提出结合联盟区块链多中心、防篡改、自动执行以及可追溯等特点,实现债券市场登记托管和交易报告,促进场内、场外市场互联互通。【方法】基于债券市场现有格局,分析国内外债券交易平台,详述基于联盟区块链的多主体、跨市场和透明监管的债券市场应用,从架构设计、业务设计、联盟治理、电子合同、智能合约和交易报告等方面介绍系统设计与实现。【结果】基于联盟区块链平台Hyperchain实现区块链在债券市场的概念验证原型,具有前瞻意义。【局限】为提供债券登记托管和交易服务,下一步需要重点研究信息流和资金流同步问题。【结论】应用联盟区块链至债券等金融领域,可为传统金融产业升级与变革、跨界监管与合作提供创新工具和方法,并为金融监管和创新平衡问题提供新思路。

[Objective]In order to provide references for bonds registration,hosting and trading under one unified market environment,a platform is designed based on consortium blockchain with its characteristics of multi-center,anti-tampering and traceability.[Methods]After analyzing domestic and overseas bonds trading platforms,a multi-agent,cross-market and transparent supervision proof-of-concept system is proposed.The POC system consists of the architecture design,business design,alliance governance,e-contract,smart contract and trading report.[Results]The proof-of-concept system for bonds registration,trading and reporting is implemented based on Hyperchain,which has forward-looking significance.[limitations]For the commercial launch,the synchronization of bonds and funds is our next priority.[Conclusions]The proof of concept system provides a feasibility study for the traditional industry’s upgrading and reform,cross-border supervision and cooperation based on blockchain.Furthermore,it provides innovative tools and new ideas for balancing innovation and supervision in the financial sector.