Interpretation of the trend of blockchain industry after the central collective learning about blockchain

The Political Bureau of the CPC Central Committee conducted the 18th collective study on the status quo and trends of blockchain technology development on the afternoon of October 24. Xi Jinping, general secretary of the CPC Central Committee, 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.

This is after the speech of the 19th Academician Conference of the Chinese Academy of Sciences and the 14th Academician of the Chinese Academy of Engineering in May 2018, the General Secretary once again gave instructions on the blockchain, which is undoubtedly extremely important for the blockchain industry. Guiding role.

First, interpret several important keywords

1. An important breakthrough : It indicates that the blockchain technology has been officially recognized, and its status is juxtaposed with technologies such as big data, artificial intelligence, and Internet of Things, and is expected to be highly advanced in technological innovation and industrial transformation.

2, detach from the virtual, deep integration : pointed out the direction, technological innovation must serve the real economy, obviously not to encourage virtual currency. Blockchain and deep integration of cutting-edge information technologies such as artificial intelligence, big data, and the Internet of Things are driving integrated innovation and convergence applications.

– In industrial applications: education, employment, pension, precision poverty alleviation, medical health, commodity anti-counterfeiting, food safety, public welfare, social assistance and other fields of application. – In government applications: improve the flow and sharing of government data and promote business synergy.

3. Security risks : Strengthen the guidance and regulation of blockchain technology, strengthen the research and analysis of blockchain security risks, closely track development trends, and actively explore development laws. It is estimated that the risk of similar P2P flooding caused by financial technology will be guarded.

4. Standardization : Strengthen the research on blockchain standardization and enhance the right to speak and rule in the world. One of the reasons why the blockchain has not been applied on a large scale is the lack of industry standardization and standardization. Enterprises that contribute to the standardization of technology and standardized services will gain a competitive advantage.

Second, the judgment of the development trend of the blockchain industry

1, the liar will increase, the IQ tax is extremely expensive

As soon as the news came out, the various sauerkraut organizations that had been used for various topics began to boil again. Various virtual currency projects will emerge in an endless stream (there is no such thing as a negation of all the virtual currency projects, but this is the status quo of the industry). First, domestic policies do not currently support virtual currency projects. Second, most of the overseas virtual currency projects have no substantial value, and the judgment is extremely difficult, but in the end, the industry may leave a great virtual currency project after the industry matures. Conversely, where there are more scammers, more talents, and more funds, it is also where the trend lies. But not everyone can control it, so keep your real money.

2. Strengthening supervision of virtual currency

After the P2P explosion, the government's experience has been quite rich. Preventing blockchains from “disposing and messing up”, blockchains, virtual coins and other fields will develop under the supervision of high pressure, so those who want to punch the ball can be considered clearly!

3. The central bank digital currency (DCEP) will accelerate

The development of the Central Bank's Digital Currency (DCEP) has seen the days, the location, the people and the people. The resistance is very small and politically correct. Between the two-layer structure of DCEP, the digital currency system of each bank will differentiate. The real core battlefield is in the payment field. Payments based on digital currency turn payments into “programmable payments.” There is a lot of room for innovation, and there will be dramatic changes in business models in areas such as asset trading and e-commerce.

4. Blockchain industry application will flourish

In addition to digital currency, the underlying technology of blockchain has a broader application. As a "trust machine", the core lies in solving the trust problem, reducing the cost of trust processing and improving the efficiency of trust processing. The technical manifestation is "timestamp based depository" . Due to China's regulatory environment and policies, the development of the public chain will be greatly restricted, and the alliance chain will flourish. But the development of the private chain (mostly domestically known as the alliance chain, the essence of the private chain) is likely to prove to be a pseudo-demand.

5. Blockchain infrastructure construction will evolve towards standardized standardization

Whoever masters the standard, who can get stuck in the competition. With the development of blockchain technology, standardization and standardization are inevitable trends. Even if there is no ability to participate in the formulation of standards, we must also pay attention to the development and trend of standards, and switch the use of blockchain to the correct posture.

(Author: hedgehog, Block Chaining legal innovation Joint Laboratory)