China Business News: Blockchain has become a major competition for new countries

On November 2nd, China’s business newspaper, “The Blockchain has become a new competition for big countries”. The article said that the blockchain has become a strategy for major countries to compete, mainly because of the subversive reforms brought by the application of blockchain technology to the existing order, especially in the financial sector. Blockchain technology competition is related to the future. The government and the market must have a reasonable division of labor, relatively clearly define the boundaries between the government and enterprises, and further stimulate the enthusiasm of the enterprise. For the government, it is important to strengthen the infrastructure construction of blockchain technology and further improve the institutional environment. First, we must strengthen integration research in the field of digital security. Blockchain technology still has a lot of space to be improved, and various privacy data are distributed in different organizations. Further research is needed on privacy protection to realize data "invisible invisibility". Second, we must gradually unify the standards. The blockchain standard is the need for the top-level design of the industry in the future. At present, the United States, Japan and other countries have also begun to block the national standards of blockchain. We must seize the initiative of the internationalization of blockchain standards and propose Chinese standards. Finally, establish a national public service platform. At present, the development of various blockchain systems is concentrated on the functional level, lacking large platform support, increasing the difficulty of enterprise operation and maintenance, establishing a national basic platform, comprehensively monitoring the operational health status of the blockchain system, and providing public services for enterprise operation and maintenance.