On November 29th, the “Chain • Change” offline boutique forum co-organized by the Shanghai Caohejing Emerging Technology Development Zone Science and Technology Entrepreneurship Center was successfully held by PANews & PANONY. The theme of the conference was “Breakthrough in changing lanes and overtaking in the new era of blockchain”, and invited several industry experts from Wanxiang Blockchain, Weizhong Bank, VeChain Technology, and senior partners of Hansheng Law Firm People, as well as guests from well-known investment institutions such as NGC and return funds, discussed topics such as the development of the blockchain industry, legal compliance, and investment directions.
Wan Xiang, Deputy CTO of CTO Chen Wei, as an invited guest, gave a keynote speech entitled "The Past and Present of Blockchain Technology", which introduced the basic concept, history and application development of blockchain in detail.
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Blockchain is just one of many technical tools, and technology is used to solve problems. "Chen Chen said that blockchain is not omnipotent, and its advantages can be brought into play only in certain application scenarios. In recent years, the value of blockchain technology and its future development potential have received more and more attention, and the blockchain industry has also Is developing rapidly.
According to Chen Yan's introduction, Wanxiang Blockchain Lab mainly performs the following types of work: first, industry research, providing guidance for entrepreneurs, and providing reference for industry development and policy formulation; second, publishing and publishing blockchain books through translation, hosting The Blockchain Global Summit and the Blockchain Knowledge Lecture promote the development and popularization of blockchain technology. The third is to participate in the formulation of international and national standards. In early 2017, on the basis of further integrating resources and deepening platform construction, Shanghai Wanxiang Blockchain Co., Ltd. was formally established. At present, Wanxiang Blockchain includes Wanxiang Blockchain Lab, Xinchain Space, Technology Center, and Distributed Business Application Business Group. The cumulative investment in the blockchain field has exceeded 1 billion yuan.
Zhang Long, senior architect of Weizhong Bank's blockchain, shared "Explore and Practice of Weizhong Bank in the Blockchain Field". Obviously, blockchain has become a new outlet. As a major technological innovation, various industries are accelerating the exploration of specific applications of blockchain technology. As the first private bank and Internet bank in China to open, Weizhong Bank has built a self-developed core architecture for distributed banking to handle mass customers and high concurrent transactions. Therefore, Weizhong Bank is also an enterprise that has invested resources to develop blockchain and distributed ledger technology earlier since 2015.
In Zhang Long's view, as a traditional financial institution, banks often involve multiple participants or intermediaries, and there is a large amount of unequal resource information. Blockchain technology, as a representative of distributed technology, first gained value in the financial field. Blockchain technology can bring security, reliability, simplified processes, peer-to-peer cooperation, value sharing, and intelligent collaboration, which can drive the distributed business system to further mature.
Currently, FISCO BCOS, a financial-level block chain underlying platform jointly developed by Weizhong Bank and the Golden Link Alliance open source working group, has developed open source links with multiple parties to develop into the largest domestic alliance chain open source ecosystem, further promoting the domestic financial blockchain ecosystem. Formation. The data shows that as of October 2019, the FISCO BCOS open source ecosystem has brought together more than 500 companies and institutions and more than 10,000 community members to participate in co-governance and sharing. Hundreds of application projects have been developed based on the FISCO BCOS underlying platform, with more than 60 Stable operation in production environment.
Mr. Zhang Yu, the head of the BitLaw team and senior partner of Shanghai Hansheng Law Firm, delivered a keynote speech entitled "Overview of the Current Law and Compliance of the" Blockchain ", and made a statement on the current judicial practice and regulatory status in the blockchain field. An in-depth analysis.
Lawyer Zhang Yu believes that "Although there is no separate law in the blockchain field to regulate, the relevant legal norms applicable to the blockchain have been dispersed in other existing laws. It should be said that the laws on the blockchain The overall framework and basic context are in place. "
After reviewing more than 20 cases labelled with "Bitcoin", lawyer Zhang Yu found that the crime of fraud accounted for "half the country". "The previous law was not perfect, so it caused chaos in the currency circle. Indeed, many people now use the name of the blockchain to commit fraud." In addition to the crime of fraud, it is also possible to develop and participate in activities in the blockchain field. Offenses of illegally absorbing public deposits, crimes of fund-raising fraud, organization, leadership of MLM activities, "game + blockchain" may also involve opening a casino.
In the roundtable discussion of "Online Chain Mobilization, Blockchain Application in the New Situation," Feng Yikai, COO of COO, said that blockchain as a trust machine is essentially to help different companies reduce trust costs when they collaborate with each other. In his view, "those companies that have a lot of synergistic links in upstream, midstream or downstream business, and companies that have higher requirements for data sharing and interoperability, are more suitable to use blockchain technology."
Xu Gang, CTO of Motorlink Technology, believes that the application of blockchain technology is very wide, whether digital finance, Internet of Things, or artificial intelligence, supply chain management and other directions are very suitable for the integration with blockchain technology. Among them, the development of blockchain technology is closely related to regulatory policies, so the financial field may be a better application and development direction.
"Interbank settlement, clearing, trading, cross-border payment, auditing and other services are most suitable for blockchain technology, followed by legal institutions, food medical and logistics and express delivery related companies." Zhang Yaolong, CEO of Yaoyao Technology, pointed out specific Application areas.
In the second round table discussion, regarding "blockchain investment in the new stage", NGC's founding partner Zhu Weiyu took the lead to say that from the perspective of Zhu Weiyu and the NGC behind him, especially in the context of China's high-pressure policy, the red line is a must. What cannot be touched is, "Domestic exchanges will not invest, and only users and teams that are really located overseas will consider it."
Unlike Zhu Weiyu, Beco Ventures 'partner, An Yu, is more concerned about domestic blockchain projects. He said that because China promotes currencyless blockchains, Beco Ventures' investment direction has changed from focusing on C-side service products. For B-side service products, such as BaaS platform, blockchain training and other projects have become key observation objects.
Li Xiangmin, founding partner of Chain Capital, also said that China's policy issues have greatly changed their investment direction. For token projects, they will only focus on compliance companies in Europe and the United States. The state-sponsored equity, Internet of Things, smart city, and financial directions will focus on.
"Because the Chinese government does not advocate investment in virtual currencies, we have also begun to avoid investing in the blockchain team that issues coins," said Vanessa, a fund partner. Vanessa said that the return fund also remains concerned about the so-called "currencyless blockchain" projects. "Most of the currencyless blockchain projects are currently at a loss because they do not have blood-forming functions themselves."
It is understood that the theme sharing of the Paradigm Shift chain change is a boutique offline forum under PANews. It has previously discussed the combination of cloud and blockchain applications in Hangzhou with Amazon AWS. In the future, a series of activities will be launched in Beijing, Hong Kong, Seoul and other places.