Comment: Blockchain and Red Flag Act

When the British invented the steam engine, they were greatly resisted in the development of new technology. For example, the red flag bill allowed the car to run faster than the carriage. The car was equal to the carriage and killed the British as a big car country.

Although the British invented the steam engine, it was not used well, which limited the conversion of scientific and technological achievements. Instead, it was seized by the United States and used this new technology to catch up. The United States established a complete industrial system, thus establishing the dominance of the United States for a hundred years. .

The current blockchain technology is similar to such a new thing. The American Libra is not optimistic about being optimistic, Congressional hearings, and various restrictions. China has a strong institutional advantage and is likely to seize opportunities.

Make good use of this opportunity to reach a consensus from the national level, thus promoting the application of blockchain technology and building a strong digital China.

The future society, the Internet of Everything, the transaction between people and people, the transaction between man and machine, gradually becomes the transaction between things and things, and the trust relationship between things and things is established by blockchain technology. Such as: automatic driving car automatic payment, automatic charging pile settlement.

The refrigerator in the home automatically orders to shop, and automatically settles and so on. As the underlying technology guarantee, the blockchain transfers the trust of third parties to machine trust (or code trust).

In China, the blockchain is welcoming the development of spring. For example, China’s “13th Five-Year Plan” has already carried out blockchain, quantum communication, artificial intelligence, etc. as key projects; on February 18, 2019, the front page of People’s Daily The blockchain is "a new generation of information technology." On October 25th, the news headlines also broadcasted the members of the Politburo to study collectively, and General Secretary Xi also made an important speech.

Historical experience tells us that when a new generation of technology emerges, who can embrace new technologies and apply them to social development, who will lead this era, the industrial revolution has created Europe and the United States, the first generation of the Internet, China seized the opportunity, Complete a lot of transcendence, blockchain era, all things interconnected, will become a major trend and trend in the world, embrace the blockchain, make good use of blockchain technology, will make China once again lead the world and realize the greatness of the Chinese nation revival.

Of course, every new technology is inevitable to be used by people or organizations with ulterior motives. For example, when the Internet first came out, some people wanted to use it to trade drugs, guns, etc., when AI (artificial intelligence) came out a lot. People use it for gambling. As a low-level technology, peer-to-peer, decentralized, blockchain seems to pose a greater threat to intermediaries (including the government), but don't forget the transparency of the blockchain, collaboration, etc. It also gives middlemen more opportunities, such as supervision, coordination between different departments. How to make good use of new technologies, let new technologies bring convenience to the people, and improve work efficiency, instead of using blockchain technology to deceive people. At the same time, the government should strengthen supervision.

The transparency of blockchain technology can actually give the government a window of supervision, allowing the blockchain to operate under legal compliance.

An important reason for the Red Flag Act is that the new technology involves too many interest groups. The carriages are the main means of transportation of the year, and most of them belong to the vested interest groups, causing them a lot of resistance. In the promotion of new technologies, such problems will inevitably occur. The decentralization of the blockchain obviously requires the removal of many intermediate interests. Then, there will inevitably be some resistance. We should also be alert to this phenomenon, the consensus of the public. The establishment of decentralization requires a good grasp of the direction, and it also requires proper guidance and support from the government so that ordinary people can participate in supervision.