"Three kinds of vision" to understand the blockchain today and tomorrow

Author: Ye Zhen Zhen, president of People

On the afternoon of October 24, the Political Bureau of the CPC Central Committee conducted the 18th collective study on the status quo and trends of blockchain technology development. In his study, General Secretary Xi Jinping emphasized that the integrated application of blockchain technology plays an important role in new technological innovation and industrial transformation. We must take the blockchain as an important breakthrough for independent innovation of core technologies, clarify the main direction, increase investment, focus on a number of key core technologies, and accelerate the development of blockchain technology and industrial innovation.

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On May 28, 2018, the 19th Academician Conference of the Chinese Academy of Sciences and the 14th Academician Conference of the Chinese Academy of Engineering were grandly opened in the Great Hall of the People in Beijing. General Secretary of the CPC Central Committee, President of the State, and Chairman of the Central Military Commission Xi Jinping attended the meeting and delivered an important speech. Xinhua News Agency reporter Yan Peng photo

On May 28, 2018, General Secretary Xi Jinping made an important speech at the 19th Academician Conference of the Chinese Academy of Sciences and the 14th Academician Conference of the Chinese Academy of Engineering. He will blockchain and artificial intelligence, quantum information, mobile communications, and things. Networking is listed as a representative of a new generation of information technology. Not long ago, the "Opinions on Supporting Shenzhen's Pioneering Demonstration Zone for Socialism with Chinese Characteristics" issued by the Central Committee of the Communist Party of China and the State Council clearly proposed to support innovative applications such as digital currency research and mobile payment in Shenzhen.

With a series of policy support, blockchain technology has developed rapidly in China and is deeply integrated with all walks of life. Nowadays, it has become the trend of the times to create social value and empower the real economy. For the understanding of the blockchain, we must also keep pace with the times: we must talk about the current situation, but also the long-term; we must look at the domestic and the global; we must prevent risks and promote development, especially for their construction. The great role of the network power, the development of the digital economy, and the promotion of economic and social development must have a profound, systematic and complete understanding.

First, we must look at the blockchain technology with a developmental perspective and cannot underestimate its tomorrow. It is necessary to implement the general secretary's deployment and use the blockchain as an important breakthrough for independent innovation of core technologies.

In the past two decades, the Internet has been fully integrated into social production and life, leading to tremendous changes in the world. However, due to the historical limitations of technology, the basic issues of fairness, value, and security of the online world have not been satisfactorily resolved for a long time, and even many problems that endanger public security, social ethics, and national security have become a reality. New social ills. Therefore, it is more necessary and urgent to carry out a profound technological change within the Internet world than ever before.

The technical characteristics of the blockchain may just echo this need. In essence, a blockchain is a set of governance structures, the core of which is an incentive constraint mechanism based on a combination of technologies. It integrates distributed data storage, peer-to-peer transmission, consensus mechanism, encryption algorithm and other technologies to subvert innovation in computing models, greatly increasing the threshold of "doing evil." In addition, the blockchain also promotes the change of “information Internet” to “value Internet” and “trust Internet” by setting up incentive mechanism, so as to fully tap the internal active force, maintain the ecological order of the network world, and realize a more benign governance structure. Effectively empowering the modernization of national governance systems and governance capabilities is widely believed to lead to a global technological innovation and industrial transformation.

Second, we must look at blockchain labels with a scientific eye and cannot overestimate it today. China has a good foundation in the field of blockchain. It is necessary to accelerate the development of blockchain technology and industrial innovation, and actively promote the development of blockchain and economic and social integration.

The blockchain that was born in 2008 was originally a new member of the information technology family. Because of the large amount of capital speculation in digital currency in recent years, the blockchain as the underlying technology of digital currency has been widely recognized. However, when the “coin price” continued to fall and the speculative enthusiasm retreated, we found that the capital alone could not pave the way for the development of technology.

Like any technology, blockchain also has its own objective laws of development. Affected by internal and external factors, it is often only after continuous iterations, to achieve maturity and stability, and gradually combined with other technologies and repeated running-in with the superstructure. As General Secretary Xi Jinping pointed out, it is necessary to seize the opportunity of blockchain technology integration, function expansion and industry segmentation, and play a role in the blockchain to promote data sharing, optimize business processes, reduce operating costs, enhance synergy efficiency, and build a credible system. The role of other aspects. Only in this way can the huge potential value of the blockchain be fully released.

Third, the integration and application of blockchain technology plays an important role in new technological innovations and industrial changes. It is necessary to continue to look at the blockchain industry with a strategic perspective. Developing blockchains may face regulatory risks, but not developing blockchains may be at risk of long-term backwardness.

General Secretary Xi Jinping emphasized that it is necessary to strengthen the guidance and regulation of blockchain technology, strengthen the research and analysis of blockchain security risks, closely follow development trends, and actively explore development laws.

At present, the development of blockchain may indeed face regulatory risks, but the early regulatory issues must be the common problems faced by large-scale applications of cutting-edge technologies. Global technological innovation is in an unprecedented period of intense activity. The major countries in the world now regard information technology as the strategic direction for seeking new competitive advantages. The international competition around the commanding heights of information technology has shown signs of increasing complexity and fierceness, even intertwined with trade disputes, diplomatic games, and military wrestling. Therefore, the development of information technology frontier areas such as blockchain is closely related to the future international competition pattern. If we do not develop blockchains, we may be in danger of long-term backwardness. Therefore, the establishment of the regulatory system must respect the law of technological development, focus on the world, focus on future competition, and combine risk prevention with development.

China must be at the forefront of the development of blockchain. This requires the government, enterprises, academics, the media, and even the community to work together and work together. Only in this way can the blockchain become an important breakthrough for China's core technology independent innovation, and truly play its role in new technological innovation and industrial transformation. Its important role and contribute to the improvement of the modernization level of the national governance system and governance capacity.