Babbitt site 丨 Chinese and American listed companies discuss the blockchain, when will the industry usher in a novelty?

On the evening of October 25, with the spread of the eighteenth collective learning on the current status and trends of the development of blockchain technology by the Political Bureau of the CPC Central Committee, the blockchain quickly became a star in the capital market. The number of A-share blockchain concept stocks doubled overnight, soaring from more than 80 to more than 170. In Hangzhou, two companies related to blockchain have been listed in the United States and China in the following month.

Blockchain is sought after. How can listed companies seize opportunities, which businesses have landed, and what difficulties will they face in using blockchain technology to empower their business? On December 3, at the "2019CAN Summit · All Things Interchain" site, a roundtable forum for listed companies was specially organized to discuss how listed companies see the blockchain. These listed companies are engaged in different businesses, including Jingu Co., Ltd., which manufactures auto parts, Han Ding Yu You, a smart city and finance company, Tianyin Holdings, a communications company, and Zhiwei, a digital marketing company. Jianan Technology, a Bitcoin mining machine chip. According to rough statistics from Babbitt, these listed companies have a combined value of more than 40 billion yuan.

Pain points in the industry

Zhidu is a company listed on the Shenzhen Stock Exchange. Its main business is digital marketing and traffic procurement. According to Wu Yitang, a partner of Zhidu, Zhidu has a wholly-owned subsidiary in the United States, which is used as a third-party traffic search portal, and there are many digital and data businesses. In the process of doing it, I have been exploring how to combine the company's existing digital business with blockchain technology. Zhidu shares began to explore the application of blockchain from 2017. After three years of exploration, Wu Zhitang concluded that blockchain technology is the most suitable for digital assets that can be chained. Specific scenarios include traceability and anti-counterfeiting, supply chain finance, Poverty alleviation and electronic invoices.

Jingu Co., Ltd. is a small and medium-sized listed company. As an old Zhejiang company, it is mainly engaged in the manufacture of auto parts, high-equipment manufacturing and auto aftermarket business.

As long as you have a car, you should be able to feel the pain points in the aftermarket.

"When we are doing maintenance at 4S stores, we will encounter a very realistic question: Are our accessories authentic, are they original parts? Tracing the source of these auto service parts is still difficult to achieve in the industry. In addition, when we choose a used car, we will also encounter the corresponding practical problem, that is, the entire maintenance record of the used car is actually invisible. The traceability of the entire maintenance record is also a realistic problem for the industry. Xu Xiaotian, vice president of Jingu shares, said.

Han Ding Yu You is listed on GEM and has two main businesses: smart cities and smart healthcare. In terms of smart healthcare, according to Wang Yanan, general manager of Handing Yuyou Investment, the company is introducing some excellent doctors and medical resources in the United States, and has reached cooperation with more than 310 hospitals to provide remote consultation services.

Regarding the pain points of the medical industry, Wang Yanan said that there are many pain points in the medical industry, such as medical accidents, division of responsibilities, distribution of electronic medical records, and interoperability between lower and higher hospitals.

Tianyin Holdings is a company listed on the Shenzhen Stock Exchange. Its main industry sectors include traditional mobile phone distribution and the Internet industry. It is exploring the Internet lottery industry.

The pain point of the lottery industry is the credibility of lottery agencies.

Li Zhiqian, director of strategic operations of Tianyin Holdings, said that how to make the lottery's credibility to the whole society has always been a problem that lottery agencies and service providers are trying to solve. Tianyin Holdings has begun to explore the combination of blockchain technology with the needs of the lottery industry from 16 and 17 years, such as the on-chain of lottery transactions, and deposit, trace and search on the chain. Such as the use of smart contracts for electronic lottery attempts.

How the blockchain solves

Wu Yitang shared 4 cases that Zhidu shares are currently trying.

The first project is to use the blockchain to trace the source . This is the most suitable product for landing with the blockchain. But how to ensure that the original data on the chain is true? Zhidu shares also discussed in this regard. In summary, it is necessary to connect the information and data on and off the chain, and the combination of some anti-counterfeiting technologies off the chain.

The second case is the use of blockchain technology for poverty alleviation . Zhidu Co., Ltd. is carrying out the project of "one county, one product", and cooperates with the local government to help backward areas sell local specialty products to other places. The blockchain is mainly used to ensure the authenticity of the product.

The third case is the implementation of supply chain finance for core companies . The team is already doing business docking and has realized some realistic scenarios, and it is expected that results will come out soon.

The fourth case is to cooperate with Baiwang, the largest electronic invoice service company in China, in the combination of electronic invoice and blockchain technology.

Xu Xiaotian shared Jingu's experience in using blockchain for the authenticity guarantee of vehicles.

Jingu Co., Ltd. winds up some components in auto service stores, and implants corresponding chips or labels during the production process. Once this form of label is torn off, the entire chain will be invalidated. In this way, from the production link to the circulation link, to the offline service stores and the C-end link, the entire industrial chain is accessible from beginning to end. The traceability of the entire information chain can not be tampered with, so as to solve the current pain points in the automotive aftermarket.

Han Ding Yu You is preparing to cooperate with a pharmaceutical company in the United States, hoping to introduce some mature foreign medicines for related clinical experiments and treatments. When drugs enter China, blockchain can be used to strongly monitor the source and final flow of drugs.

Wang Yanan had previously contacted a team. In the circulation and transportation of drugs, the temperature of the drug can be recorded every 3 to 5 minutes. If the temperature of the drug exceeds the set value during transportation, it will be recorded on the blockchain. On the other hand, when later recipients get it, they will directly see this data. Because this data is immutable, it will increase the trust of both parties, and no third party is required to come in.

Li Zhiqian shared Tianyin's experience in using blockchain for lottery business.

First, the lower the degree of business integration, the easier it is to land . The project that has already landed is the on-chain lottery transaction data. After the transaction data is uploaded, the process of depositing and tracing the transaction data is completed. The lottery can check the data. This landing scene has no impact on the business.

Second, as the lottery is played more and more, electronic lottery is a trend . How to ensure the fairness of the electronic lottery and the combination with the electronic notarization of the audit institution, this is exactly a problem that the smart contract technology of the blockchain is solving.

Challenges remain

From the sharing of these listed companies, there are three challenges in the landing of the blockchain: talent constraints, insufficient user awareness, and the constraints of existing rules.

In terms of talents , Wang Yanan contacted an Israeli blockchain company some time ago. This company made an offline payment tool based on blockchain and quantum encryption technology with a domestic bank last year. In this process, when two professors from the Israeli team and the American team went to the bank to communicate with the bank's software engineers on how to achieve it, they needed to teach it to a large extent so that they could understand what was going on. It can be clearly felt that Chinese software engineers are still lacking in blockchain technology, but the training of talents requires long-term accumulation and cannot be achieved overnight.

Therefore, Shao Jianliang, CEO of Jianan Blockchain, called for more university professors or scholars to offer blockchain courses for college students, so that everyone can better understand the blockchain.

In terms of user awareness , Li Zhiqian believes that the current education of C-end users is a difficult problem for blockchain applications. In the process of releasing the C-oriented client, Tianyin Holdings will try to simplify and transparentize some complex concepts and algorithms, so that users will not feel as much as possible about these technologies. I hope more and more people will recognize this transparency and openness. It can recognize the data of blockchain certification and traceability. But the vast majority of C-side users now lack awareness of the blockchain and need market education.

In terms of rules , because electronic lottery changes the existing business process of lottery, it will be challenged by traditional rules in combination with blockchain technology. Li Zhiqian hopes that more roles will be involved in the lottery ecology. For example, service companies will participate in the design of industry specifications. Lottery players will participate in the entire data lottery audit and data verification function by contributing computing power. All of these require changes to existing rules.