33 Wu Sijin, Founder and CEO of Complex Beauty Blockchain: Blockchain helps small and medium-sized enterprises "break through"

On March 25th, under the guidance of the China Association of Small and Medium Enterprises, hosted by the China Association of Small and Medium Enterprises Industrial Blockchain Special Committee (hereinafter referred to as the "Special Committee"), Hainan Ecological Software Park, Tsinghua Internet Industry Research Institute, and Hainan Fire Chain Technology Co., Ltd. The first "China Association of Small and Medium Enterprises Blockchain Innovation Summit Forum" jointly organized by the company (hereinafter referred to as "Firelink Technology") was held in Haikou.

Wu Sijin, founder and CEO of 33 Fuzzy Blockchain, delivered a keynote speech "Blockchain Helps Small and Medium-sized Enterprises "Breakthrough"". Wu Sijin pointed out on the spot that Complex Beauty was established in 2013, and Chain33 is a blockchain underlying development platform independently developed by Complex Beauty, which was open sourced on github in 2018. also. Chain33.cn is a DSB open source community with a high degree of freedom. Chain33 adopts a two-layer structure of the main chain and parallel chain, which takes into account high efficiency, safety, low cost, and fast deployment using the Baas platform. In addition, the parachains, private chains and alliance chains based on the Chain33 development platform are already running smoothly. At present, Complex Beauty’s business involves traceability, digital e-commerce, supply chain finance, warehouse receipt transactions, industrial Internet, and blockchain exchanges. In other aspects, it is committed to using blockchain to help small and medium-sized enterprises "break through".

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After the meeting, Jinse Finance had a dialogue with Wu Sijin, the founder and CEO of 33 Complex Beauty, on issues related to blockchain development. The following is the transcript of the interview.

(Wu Sijin, 33 Founder and CEO of Complex Beauty)

Jinse Finance: How do you define Complexity’s role in the blockchain industry?

Wu Sijin, founder and CEO of Complex Beauty: Complex Beauty is a company that set foot in the blockchain in 2013. It had a lot of communication with government departments in the early days. It is basically the first company in China to promote the application and development of blockchain. For example, it involves the clearinghouse, traceability, certificate deposit, logistics and other aspects.

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When everyone was studying Bitcoin and Ethereum in the early days, we began to study how to promote the implementation of blockchain in the real economy in China. There is a big bottleneck in the implementation, such as performance issues, privacy protection issues, regulatory issues, data security issues, etc. Therefore, we have done a lot of development in this area. Chain33 is a blockchain underlying development platform independently developed by Complex Beauty. During the research process, we also wrote the corresponding ideas and practical process into patents, so Complex Beauty has achieved certain results in the patent ranking, and has applied for more than 500 blockchain invention patents. In addition to several big companies such as BAT, Complex Beauty, as a start-up company, ranks among the top 10 domestic blockchain invention patents, which is still relatively leading. Complex Beauty is more inclined to say that it is an early role in promoting the implementation of blockchain in various scenarios in the industry.

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I personally invested in some cryptocurrencies in the early days, and the income is not bad, but more than 90% of my energy is devoted to the research and development and promotion of the blockchain. For example, my patents have more than 130 authorizations. We have invested a lot of time, energy, and financial resources in the exploration, development, and promotion of the blockchain. This is a process of continuous self-improvement. After the country adopted the blockchain as a new infrastructure, we ushered in the spring. We are believers, adherents and evangelists of blockchain technology.

Jinse Finance: You mentioned earlier that Complex Beauty basically didn’t make much money in the first few years of its establishment. Has development changed in the last two years?

Wu Sijin, founder and CEO of Complex Beauty: Before the new infrastructure, we were purely invested. After the new infrastructure, there will be a lot of orders this year, and it is possible to achieve a break-even this year. Now everyone is looking for the underlying blockchain technology that is self-controllable, low-cost, and capable of realizing application scenarios. Many companies have found a high degree of fit in our contacts. We believe that this market has ushered in an "explosion". At present, many orders cannot be fulfilled.

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In the past few years, the company has not made a profit. The main reason is cognition. Many people in the market have stigmatized the blockchain. Of course, it is also because of some chaos in the industry, so that everyone has not really realized the power of blockchain technology. . Similar to the early days of the Internet, everyone thought it was a bubble, but 10 years later, we saw the landing of the Internet, and the current blockchain situation is also the same. We were all exploring and researching in the past, and basically made no money in the early stage.

However, I think it is difficult for large companies to have a big explosion on the blockchain, and it is difficult for them to break away from their original business. Although they may use the blockchain to reduce some costs and improve some security, it is impossible to really generate huge energy, because they are still working with the original thinking. But in fact, the biggest role of the blockchain is not your best technology, but whether you are decentralized enough, whether you are enough to give SMEs and individuals a fairer income distribution.

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In addition, I think that under the background that the blockchain is included in the new infrastructure, the credit formed by the blockchain can create a good business environment. Enterprises and individuals try to put some of their credit transaction process on the blockchain as soon as possible, because if you don’t put it on, after two or three years you find that you have not formed credit on the chain, and the gap with other companies will be huge. getting bigger.

Jinse Finance: How do you view the changes in the blockchain in the past two years? During the previous bear market, the industrial blockchain was mentioned many times. The bull market is coming, and the industry and media are not paying attention to the industrial blockchain as before. What aspects should the industrial blockchain accumulate during this period?

Wu Sijin, founder and CEO of Complex Beauty: Speaking of industrial blockchain, Midea’s case has inspired me a lot. At the beginning, everyone wanted to build a bill trading platform, a supply chain finance, and a warehouse receipt storage. I feel that it has a certain effect, but in fact, after the company has a deeper understanding, I found out whether I should all be on the blockchain. I put the entire process of production, sales, and management on the chain. At this time, the entire logistics efficiency will be improved. Substantial improvement, the middle-of-the-road things are avoided, and this is the real meaning of the blockchain.

Jinse Finance: Looking forward to the future, what changes may the blockchain have? What bottlenecks will there be?

Wu Sijin, founder and CEO of Complex Beauty: I think the impact of blockchain on tradition may far exceed that of the Internet. It may have changed the traditional form of the real economy and the business model in 5-10 years, and the blockchain will truly A union of free people can be done. But there is still a process to realize it, because people's cognition is not enough at present, and they need to communicate, learn and improve constantly, and act earlier. Now advocating investment in the digital economy and blockchain, including our Jiangsu government, is also building a relevant business environment for enterprises. This is a very good change and development.

Jinse Finance: Can you tell us about some short-term or long-term plans for the future of Complex Beauty? Facing the development of blockchain, have you formulated some new development strategies?

Wu Sijin, Founder and CEO of Complex Beauty: The underlying technology of our blockchain is completely independently developed, and the architecture of the main chain and parachains has been open-sourced and shared. Of course, it has also been welcomed by our partners. Then we will carry out promotion next, including in Japan, the United States, South Korea and other places, we are all planning to provide higher services at the most affordable price. In addition, this year we plan to promote the bottom layer of our blockchain in 100 cities, and we will also promote it with governments at all levels.

In addition, we will also make some applications that can be more inclusive, such as allowing the entire production process, identity, electronic contracts, logistics, electronic bills, invoices, etc. of the enterprise to be all on the chain. These integrated tools are provided to enterprises for free, and enterprises do not need to spend a lot of effort to develop them. With these data, the credit of enterprises on the chain continues to develop, and enterprises can grant credit or conduct financing more conveniently and safely.

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