China Internet Conference China Blockchain Industry Development Forum

July 11th, 2018 China Internet Conference Blockchain Industry Development Forum was held in Beijing National Convention Center. This forum was hosted by China Internet Association, exclusively organized by Golden Finance, and co-organized by Chuangqi Social E-Commerce Research Center. “Blockchain innovation technology application” is the concept, with “blockchain to promote industry development” as the core content, invite government leaders, and global blockchain industry scholars, investment institutions, top technical talents and business leaders and other industry elites To jointly explore the global development trend of blockchain and new opportunities for China’s industry layout, and help the blockchain to empower the real economy and achieve greater commercial value.

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Golden Finance, as the organizer of this conference, will conduct on-site coverage throughout the entire process. The following is the live broadcast of the text.

At the beginning of the conference, Wang Xiaoli, Secretary of the Discipline Inspection Commission of China Information and Communication Research Institute, and Li Xuebin, Golden Finance COO, gave an opening speech.

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(Wang Xiaoli, Secretary of the Discipline Inspection Commission of China Information and Communication Research Institute)

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(Golden Finance COO Li Xuebin)

Subsequently, Cai Weide, an expert of the “Thousand Talents Program” of the Central Organization Department and the honorary dean of the CCID (Qingdao) Blockchain Institute, delivered a speech. He said that there will be great changes in the future chain and the current chain. Do not use the current chain and application as a blueprint. In the future, it will not be the current Ethereum, the current Hyperledger, or other chains now, and there will be changes in the future. Cai Weidehai said that the blockchain will bring more changes to the society and the market. The development of the blockchain is faster than the speed of the Internet, and the winners may decide soon.

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(Cai Weide, the “Thousand Talents Program” expert of the Central Organization Department and the honorary dean of the CCID (Qingdao) Blockchain Research Institute)

The current blockchain classification is divided into real chains (byzantine general agreement, each node is also the same data encryption and decryption), weak chain (General Liu Guanzhang agreement, each node trusts each other), pseudo-chain (using a centralized system to make blocks) Chain, or use the already compromised encryption algorithm, Hyperledger, BigChainDB), non-chain (with partial blockchain mechanism, but not blockchain: such as IOTA, Hashgraph, Corda, Guard time, lightning network), Hu chain (no A chain of scientific evidence, such as a node protocol that can tolerate more than 1/3 errors, an empty chain (a system without a chain), and a red python chain that does not have enough information to judge.

The current blockchain is no longer the speed, but the real (pseudo-chain unsafe), stable (reliability), and application architecture (different chain design for different applications, no longer one chain to the world), now blockchain The biggest risk is to be attacked with a pseudo-chain, and the legal liability is too high.

Cai Weide also said that public and private chains are not divided. Several well-known public chains (high-coin values) are private chains or controlled by the center. The extended technology used by the famous public chains is also private-chain technology. There will be more and more new technologies in the future, but most of the technologies do not refer to PFMI. Only digital certificates are considered. It will be difficult to be adopted by regulators and financial companies in the future.

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(Director of Zhongguancun Blockchain Industry Alliance, founder of Yuantong School)

Then the chairman of the Zhongguancun Blockchain Industry Alliance and the founder of the General School, Yuan Dao, delivered a speech. He said that the blockchain is not a subversion of the Internet, but a comprehensive inheritance of the Internet results, and will be the world’s greatest Internet platform company. The core capabilities are extracted and sink to the public infrastructure level. Such multi-centered digital identity, payment, and so on are the basic capabilities and basic services that each user can directly enjoy, and all are open source, open protocols, and no platform can use these to abduct users.

He pointed out that there are three elements of the existence of the certificate: First, the certificate must be a digital certificate of equity, which must represent a right, an inherent and intrinsic value; the second point is The ability to verify authenticity, tamper resistance, and privacy protection is guaranteed by cryptography. Each pass is protected by cryptography and has unique rights. The third point is liquidity. The certificate needs to be freely flowable in the network and can be verified anytime and anywhere.

The industry digital pass is the first and the blockchain is the second. Pass is a human consensus symbol condensed on cryptographic infrastructure, global distribution, global circulation. The application of the certificate is: first, collaboration, strong collaborative incentive mechanism (including negative incentives) in the upstream and downstream of the industry; second, brand, global circulation, easy to establish global brands; third, organization, new generation industry association, society Group of autonomous organizations. From finance, the digital transformation of its own finance, from the media to the financial.

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(NEO, Onchain Distribution Technology founder Da Hongfei)

Next, at the China Blockchain Industry Development Forum, NEO and Onchain Distribution Technology founder Da Hongfei gave a speech on the theme of “blockchain innovation and challenge”. He pointed out that there are only two ways for economic growth, one is Pure technological advancement, and the other is the use of resources. Blockchain can reduce costs, increase efficiency, and help resources be fully utilized.

He pointed out that there are eight aspects to the challenges of the blockchain in the future: the first is scalability, the blockchain scalability is very poor; the second, privacy protection, blockchain information is open, how to protect privacy becomes a problem Third, the lack of formal authentication, the contract is more and more complex will inevitably produce a BUG, ​​need to be described in the form of formal logic to reduce the existence of BUG; Fourth, storage restrictions, chain storage and its expensive, and Involving global distribution, cost becomes a challenge for blockchain; fifth, unsustainable consensus mechanism; sixth, lack of governance and standards; seventh, lack of appropriate tools; eighth, quantum computer attacks .

He also said that different accounting techniques have different forms and will bring different levels of collaboration, such as the emergence of spreadsheets and Internet stock companies. The emergence of distributed ledgers has greatly improved the company’s collaboration scale and organizational form.

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(The founder of the capital, Yi Lihua)

Yi Lihua, the founder of Capital Capital, delivered a keynote speech on “The Blockchain Reconstructs the Beautiful World” at the China Blockchain Industry Development Forum. He said that the blockchain redefines the trust system and organizational relationship. The change has brought about a way of trust that has detached from existing central institutions and brought about new changes in trust. Bitcoin redefines assets. The certificate redefines the rights and incentives and is the basis of the blockchain economy. The certificate can allow more people to participate in the event more efficiently and valuablely, and even the labor relationship will change due to the certificate.

The investment in the blockchain market is different from the traditional market investment. There is no strict distinction between the primary and secondary markets. The team is the first element of the blockchain project investment. The blockchain investment can make the project participants fair and just. The return, this consensus is the focus of differentiation from traditional Internet investments. In the blockchain, technology is the core factor.

Regarding investment, Yi Lihua pointed out that the current investment direction is four: First, the technology breakthrough type, the current blockchain technology has many shortcomings, the blockchain should make a difference in the global economy, the technological breakthrough becomes the focus; the second is the entry platform. Type, blockchain is the eyes of the Internet, portal platform projects are still an important force in the future blockchain; Third, the vertical landing type, the blockchain is currently applicable in very few areas, currently optimistic about finance, content, storage, the Internet, etc. Industry, content industry accounts for 95% of the total Internet users time, these industries are the first to land; Fourth, leading figures, any industry, founders are the basis of project success.

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(Left: Sam Lee, founder and CEO of Blockchain Global, right: Co-Founder & Managing Partner of Kenetic Capital Jehan

Sam Lee, founder and CEO of Blockchain Global, has a deep dialogue with Co-Founder & Managing Partner of Kenetic Capital Jehan. Sam Lee said, I think the blockchain technology is actually mature enough for the physical industry, and the data processing speed per second is not a big problem. In the use of government and enterprises, we can ask technicians to help solve related problems. We are not only doing technology development, we are helping technicians to do business. Zhu Peizong also said that technology is very important, we still need to see if technology is useful. The increase in the speed of the blockchain is not the most important. As an investor, I see companies looking for us to say that we are producing the right value, which is brought about by the blockchain.

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(Sam Lee, founder and CEO of Blockchain Global)

Sam Lee also said that the open source ecosystem is very important now. You must prove to the world that the blockchain has its own characteristics. The first is to open source and participate in generating value and trust in different ways. This is the democratization of trust. The ultimate goal of the blockchain. From a macroeconomic point of view, my participation in this area is to promote the development of society, deal with the problem of corruption, achieve this goal by increasing TPS, and finally achieve everyone’s sharing through open source systems, using open source technology is very It is difficult to achieve profitability. We must base ourselves on reality and think about the problems we have to solve. In time, we will get more development.

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(Dr. Huang, Dean of China Internet Finance Innovation Research Institute and Dean of the Financial Law Institute of Central University of Finance and Economics)

After the deep dialogue between Sam Lee and Zhu Peizong, Huang Zhen, Dean of China Internet Finance Innovation Research Institute and Dean of the Financial Law Institute of Central University of Finance and Economics, delivered a keynote speech on “Block Chain Empowerment Supervision Technology”. He pointed out that the new round of scientific and technological revolution calls for regulatory innovation, and the blockchain can help form a multi-party regulatory mechanism and form a benign governance. Empowerment not only has a huge impact on finance, but also has great implications for financial regulation. The underlying technology of the blockchain is still iterative, the blockchain continues to evolve and innovate in these developments, and new features may empower the blockchain and create greater value. Empowering the real economy can also empower regulation. From the existing applications of blockchain, public utilities have been successfully applied. More than 80% of applications are currently in the financial sector. There are also new applications in the traditional power grid and smart home fields. There is also an innovation in mobile communication networks, and the anti-money laundering business (in conjunction with big data) is also our future work. Blockchain technology is closely related to financial transactions and information management.

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The next cross-border dialogue theme is “blockchain empowerment entity economy”. The dialogue guests include Ye Haojun, deputy director of Shanghai Jinshan District Economic Committee, Luo Lin, deputy secretary of Chongqing Yuzhong District Economic and Informationization Party Committee, and China Electronic Commerce Association. Block Chain Branch President Li Zhan, Tsinghua x-lab Qingteng Chain Research Institute President Zhong Hong, ZB labs CEO Li Dawei, Boao Education Innovation Forum Organizing Committee Director Qiu Qinlun and Shanghai United Assets and Equity Exchange Financial Assets Trading Department Deputy General Manager Tang Ji.

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(ZB Capital CEO Li Dawei)

Among them, Li Dawei, CEO of ZB Capital, said that local governments are providing a lot of convenience for the blockchain project that can be implemented. It also shows that the state’s attitude towards the blockchain is positive. The country puts blockchain technology at a high level, and the national focus is on air currency projects, not all blockchain projects. China is particularly suited to the development of blockchain projects, whether it is policy or the environment.

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Next, the blockchain will enable the launch of the real economy BREC city plan officially. Ye Haojun, deputy director of the Jinshan District Economic Committee of Shanghai, Luo Lin, deputy secretary of the Economic and Informationization Party Committee of Yuzhong District, Chongqing, Lin Zhidong, deputy director of the Jinshan District Military-civilian Integration Office, and the Party Working Committee of the Xingsha Industrial Base of the National Changsha Economic and Technological Development Zone Director Yu Xiangyang, Golden Finance COO Li Xuebin, Vice Chairman of the China Productivity Promotion Center of the Ministry of Science and Technology Li Zhan, Tsinghua x-lab Ivy League Research Institute Director Zhong Hong, Director of Boao Education Innovation Forum Organizing Committee Qiu Qinlun, ZB A total of nine guests from Capiyal CEO Li Dawei attended the launching ceremony.