How to make data generate value? Five experts draw a blueprint for blockchain development

At present, the development of key technologies in my country's strategic emerging industries still faces many challenges. As the core technology of independent innovation, blockchain aims at the forefront of technological change, boosts industrial innovation, and spreads technological empowerment, which has been highly valued. What exactly is blockchain to the general public? How to develop next? What risks and challenges are you facing during the development process?

On May 19, Chen Zhong, a professor at the School of Information Science and Technology of Peking University and director of the Blockchain Research Center, Wu Zhifeng, director of the Office of the Innovation Director of the China Development Bank, He Wei, director of the China Telecom Yipay Blockchain Research Institute, Beijing Zhongguancun Science and Technology Entrepreneurship Xiaojun Li, Chief Operating Officer of Financial Services Group, and Zhang Xiaojun, Chief Strategy Officer of Huawei Blockchain, gathered at the "Blockchain Experts and Media Face to Face" event to exchange ideas on the above issues.

"Blockchain experts face to face with the media" activity site

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What is a blockchain?

"Blockchain is a shared distributed ledger with anti-tampering function." Chen Zhongyan succinctly said that in the past, ledgers were centralized, required backup, easy to tamper, and opaque, but now they are peer-to-peer, anti-destruction, tamper-proof, and fully transparent. Ledger technology allows data to play a role, and blockchain can play a role in it.

In addition, Chen Zhong said that the regulatory language is implemented through the blockchain, the rules are converted into code execution on the chain, data is verified and stored in the unit of the blockchain, and distributed nodes are used to reproduce and update data. To ensure the security of data transmission and access, use smart contracts and programming composed of automated script codes to operate data, record facts completely, and also enable post-event accountability of supervision to evolve into pre-event and in-event governance, which is of great importance to e-government affairs and digital government construction. Also helpful.

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Chen Zhong, Professor of the School of Information Science and Technology of Peking University and Director of the Blockchain Research Center

"The pain of the Internet today is the virtue of the blockchain tomorrow. It is of great significance that the blockchain can solve problems that cannot be solved now." Chen Zhong said that in the next step, the blockchain is likely to Disruptive innovations in the fields of theory, key technologies, regulation, platforms, and application demonstrations.

Wu Zhifeng also said that the blockchain is the cornerstone of the value Internet. At the technical level, the blockchain, as a distributed consensus ledger, can replace the original central bookkeeping, enabling data to move like objects, and generate uniqueness, exclusivity, and exclusivity; at the organizational level, the blockchain can break the original Information monopoly structure; at the incentive level, the blockchain uses virtual currency as an incentive mechanism to organize and coordinate social production, reduce market transaction costs, and generate value. "It can be said that the blockchain is a technology prepared for the next era, the era of valuable Internet."

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Wu Zhifeng, Director of Innovation Director Office, China Development Bank

In Zhang Xiaojun’s view, the blockchain can be simplified into two parts. One is the production relationship, which makes other single production capacity into a comprehensive, large-scale, “transformer” relationship; the other is to build a value transmission method around data. That is, through the flow of credible data, to ensure the production value.

"What can the blockchain do? At least it can prove that 'your mother is your mother'." Zhang Xiaojun explained that since no one has the ability to tamper with the data in the blockchain, the regulatory cost of the institution can be simplified in this case, and there is no need to Find more users to prove your relationship and confirm your rights.

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Zhang Xiaojun, Chief Strategy Officer of Huawei Blockchain

What challenges does blockchain face in its development?

He Wei believes that the blockchain can solve the digital economy and the thirst for data in important industries, but it should be noted that what the blockchain provides is only trusted data in a purely distributed state, and cannot solve privacy issues. If the privacy issue is not resolved, the blockchain will never be able to carry data-sensitive businesses such as government affairs, medical care, and finance.

"Blockchain integration and privacy computing is a very promising direction for the data industry, and it may be the only development direction." He Wei emphasized that in order to stimulate the data factor market in the future, on the one hand, the problem of trusted sources of data must be solved, and on the other hand, The first aspect is to solve data privacy. Only in this way can the blockchain industry have a good empowerment effect when the answer sheet is handed in five years after the "14th Five-Year Plan".

He Wei, Dean of China Telecom Yipay Blockchain Research Institute

Li Xiao also pointed out from the perspective of enterprise development that the data security and privacy issues of the blockchain need to be resolved urgently.

"In the field of financial technology, we have also made some attempts around the docking of funds and assets. The business related to the blockchain is mainly completed offline. The reason is that the definition of the responsible party after the occurrence of a bad situation is not clear." Li Xiao analyzed, How to realize the globalization of elements and equity of elements in blockchain records, and then the assetization of equity and capital securitization, the obstacles of rights and responsibilities and technical barriers need to be cleared one by one.

Li Xiao, Chief Operating Officer of Beijing Zhongguancun Science and Technology Entrepreneurship Financial Services Group

Zhang Xiaojun said bluntly, "Blockchain is now popular but not popular." He said that the current blockchain is difficult to implement, and the main problem lies in the definition of the original mechanism. "In domestic institutions, what is a blockchain? Is it called a blockchain if the database can be changed?"

In addition to the unclear conceptual understanding, Zhang Xiaojun pointed out that the various blockchain standards and the insufficient circulation of applicable scene data are also the shackles of its development. "Where is the blockchain used? The first is the government industry, the second is the financial market, the third is the medical system, the fourth is the construction industry, and the fifth is intellectual property rights. Taking the industry as an example, there are 520 categories in total. How to form a systematic reform under the industrial classification and truly improve quality and efficiency remains to be further explored.”

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