Babbitt, from December 7th to 8th, the "Blockchain Technology and Application" Science and Technology Frontier Forum hosted by the Chinese Academy of Sciences and jointly supported by the China Academy of Information and Communication Technology was held in Shenzhen .
This is a very serious academic conference. It took more than a year for the Faculty of the Chinese Academy of Sciences to go through the procedure after the issue was proposed and approved. . It is no exaggeration to say that this is a palace-level "ideal feast". In addition, more than 300 representatives from the government and business circles attended the meeting to discuss topics such as blockchain and digital identity, regulatory technology, and financial applications.
On the afternoon of December 7, Zheng Zhiming, an academician of the Chinese Academy of Sciences and director of the State Key Laboratory of Software Development Environment, delivered a speech entitled "Blockchain Technology and Development" . He explained the "past and present" of the blockchain from three levels: technology, application, and status.
- The blockchain national team is here! National Information Center and UnionPay jointly released blockchain service network
- QKL123 market analysis | Bitcoin halved, history will not simply repeat (1111)
- Babbitt site 丨 Yao Qian: Blockchain technology helps to establish an international payment platform "not controlled by one party"
- People's Court Report: Cracking down on "blockchain" pyramid schemes and technology are indispensable
- Ali, Tencent, Baidu blockchain landing case big PK, who is weak and strong?
- Analysis | Is the Black-Scholes model for pricing traditional financial derivatives also applicable to Bitcoin?
The following is the content of the speech, organized and released by Babbitt.
Trust has been the foundation for the development of human society for thousands of years. From the framework of information technology, blockchain is a relatively mature technology for guaranteeing trust mechanisms. Blockchain technology has four connotations:
1. Blockchain is the infrastructure of the next-generation information Internet and the core infrastructure from the traditional Internet to the next-generation trusted Internet.
2. Blockchain is an important channel for international trade and RMB internationalization. It can counteract the hegemony of the US dollar and the monopoly of international trade by the SWIFT international clearing system, and build a new channel of credible international trade.
3. Blockchain is an effective way to transform and upgrade the real economy. It can optimize production relations, reduce the cost of the industrial chain, and improve the efficiency of the industrial chain.
4. Blockchain is the key technology for constructing the community of human destiny. It is the technical support of the “Belt and Road” five-way strategy (policy communication, road connectivity, unimpeded trade, currency circulation, and people's hearts). The Internet era has realized the interconnection of information, the mobile Internet era has realized the interconnection of all people, the Internet of Things era has realized the interconnection of all things, and the value Internet era will have value interconnection. To achieve value interconnection, a low-cost trust channel must be established, which is what the blockchain can do. Currently it is the 1.0 stage of the digital economy and social governance, and the blockchain is the only way for the development of the digital economy.
General Secretary Xi said in a speech on October 24, "Take blockchain as an important breakthrough in independent innovation of core technology, and accelerate the development of blockchain technology and industrial innovation." This statement is very correct, the core of the information age Features are credibility and intelligence, behind which are mathematics, cryptography, and information science. In fact, the mathematical expression of the physical world is a complex system, and its inherent basic characteristics are non-linear, random, and dynamic. Security is the most important problem to be solved.
Blockchain technology originates from Bitcoin, which is the cornerstone of the Bitcoin system. Bitcoin is a global digital asset, which has the characteristics of high volatility and high liquidity. Blockchain is a complete distributed ledger endorsed by passwords and can play a role in intermediary networks and clearing systems that require third-party supervision. Although blockchain technology was born from Bitcoin, blockchain has made considerable progress, and its core value far exceeds the scope of application of digital assets, extending to other areas of higher trust mechanism applications.
The origin of the blockchain in China goes back to 2009. In 2009, my papers "Dynamic Characteristics of Software Trustworthiness and Its Evolutionary Complexity" and "Statistical Analysis Methods of Software Trustworthiness Complexity and Dynamics" revealed that distributed trusted software has become the development of modern software technology Important trends and inevitable choices of applications and applications, and software credibility modeling has become a prerequisite and necessary means for constructing trusted software. At the same time, it explores and clarifies the basic scientific problems of distributed trusted systems and the theory of establishing credibility metrics basis.
The blockchain-based economic operation architecture and environmental characteristics include four aspects:
1. Openness and consensus. To jointly maintain data security and ensure that it cannot be tampered with, anyone can participate in the blockchain network. Each device can serve as a node, and each node is allowed to obtain a complete database copy. Based on a set of consensus mechanisms, the nodes jointly maintain the entire blockchain through competitive calculations. If any node fails, the remaining nodes can still work normally.
2. Distributed and untrusted. I never talk about "decentralization" because we have a big disagreement on decentralization. The difference comes from the fact that distributed is de-physical equipment, not management. These are two different levels. In the past, the traditional trust relationship between people was transformed into trust in machines or technologies.
3. Privacy and supervision. The blockchain realizes the integration of privacy and supervision. The data itself is not stored on the third-party platform, but is encrypted and stored on the blockchain to achieve privacy protection and authorized sharing. In the operating rules of the blockchain, the data is open and transparent to authorized nodes, which is conducive to supervision through perspective.
4. Smart contracts. Rule of law based on blockchain contract rules: The top governance node formulates smart contracts, which are rules, and governs the country, society, and economy in accordance with the rules from top to bottom, avoiding the occurrence of policies with policies and countermeasures. Blockchain applications need to meet one of the following six conditions:
1. Production relationship , whether the application scenario needs to change the original production relationship to improve productivity.
2. Multi-party interaction , data is recorded by multiple parties involved in the business.
3. Credibility , it is necessary to establish trust between participating parties, and to store multi-party behavior records in a distributed and redundant manner.
4. De-intermediation . Participating parties originally need to achieve business matching through one or more intermediaries, which will increase costs and complexity.
5. Atomic , transactions are uninterruptible, or all executions succeed or all executions fail.
6. Privacy , a scenario where users have privacy protection needs. Taking the difficulty of financing SMEs in the supply chain as an example, there are pain points in the supply chain industry such as false trade, insider trading, commercial fraud, repeated pledges of bills of lading, tampering with data, etc., resulting in banks dare not lend to SMEs, which in turn leads to SME financing Difficult question.
If you use blockchain technology, core companies, tier one suppliers, tier two suppliers, asset gateways, blockchain digital asset chains, ABS, banks, and factoring companies form a closed loop. Due to the traceability of the blockchain, It can ensure that every step in the supply chain and every part of the product can be traced back to its origin. Blockchain can establish a distributed, trustless data registration platform and transaction system, which helps reduce chaos, facilitate supervision, and improve the reputation of the industry.
In addition, the blockchain has realized a multi-level enterprise credit transfer problem based on accounts payable vouchers. The core enterprise issues the account payable voucher to the first-tier supplier. The first-tier supplier transfers the voucher to the second-tier supplier. The second-tier supplier transfers the voucher to the third-tier supplier. The third-tier supplier transfers the voucher to Tier 4 suppliers, Tier 1 suppliers, Tier 2 suppliers, Tier 3 suppliers, and Tier 4 suppliers can all use vouchers to raise funds from funders, and core companies will repay when due. Digital certificates of accounts payable based on core corporate credit, supported by real assets. The assets can be freely split and transferred based on the blockchain, support for extension, split financing can be carried out on demand, reducing financing costs, and meeting the financing needs of small and micro enterprises at the end of the industrial chain.
Looking back at the development history of the blockchain industry, it can be roughly divided into three stages:
Blockchain 1.0 is a programmable currency represented by digital currencies . It is a cryptocurrency application related to transfers, remittances, and digital payments. At the time, blockchain technology was still being explored, and no large-scale financial blockchain applications (non-digital currencies) went online. There were many attempts, and it was too early to talk about its popularity.
Blockchain 2.0 is programmable finance represented by "encrypted digital currency + smart contracts" . It is a blockchain application in the economic, market, and financial fields, such as stocks, loans, mortgages, smart property, and smart contracts. Blockchain is not just technology, so the impact of blockchain in this round of technological revolution is far greater than other technologies, and it may appear in disruptive businesses, technologies or enterprises.
Blockchain 3.0 is a programmable society based on the "distributed value internet" as a digital economy . It is an application that goes beyond currency, finance, and markets, especially in government, health, science, culture, and art. The application ecology determines the final winner. At present, there are some financial applications for public and private chains (or alliance chains), but it is not the case yet. Big companies don't necessarily have an advantage here, because the power of open source cannot be underestimated. The blockchain industry is transitioning from 2.0 to 3.0, and countries around the world have joined the battle for 3.0 strategic highlands.
Currently, blockchain technology has three dilemmas:
1. The core dilemma is the ternary paradox, that is, scalability, distribution, and security cannot be both, and at most they are the second. The core of next-generation blockchain technology is the ternary balance optimization problem.
2. Security dilemma requires the ability to penetrate supervision and balance with security.
3. Consensus cost dilemma, the traditional consensus mechanism has the problems of low efficiency and high consumption. We are moving from digital economy and social governance 1.0 to 2.0. With the application of blockchain technology in financial services, healthcare, IP copyright, education, sharing economy, communication, social management, charity, culture and entertainment, etc. Creating an intelligent platform of mutual trust, sharing, and rule of law based on "blockchain + next-generation information technology" will help advance this process.
1. Mutual trust will reshape the social trust model. The trust model has changed from a traditional model based on third-party justice to a peer-to-peer trust model based on a blockchain security architecture.
2. Sharing will create a cost value transfer channel. Transformed from a high-cost channel based on credit intermediation to a low-cost, secure, and efficient channel based on a blockchain.
3. The rule of law will create a rule-based model of social governance. The social governance model has shifted from the stage of rule of man assisted by traditional information technology to the rule of law stage based on blockchain rules. The development status of the blockchain is based on the research and development of the basic blockchain technology platform (ie, operating system, similar to Windows and Android) in foreign countries, and the domestic application of blockchain, mainly to establish China's national sovereignty blockchain basic platform Imminent.
Specifically, there are three points in the development status of China's blockchain:
1. One more and two less , that is, more patents, less open source code, fewer scientific research papers.
2. There is no secure, autonomous and controllable underlying platform , relying on the results of foreign open source communities, and more references to foreign security algorithms.
3. There is no integrated platform of software and hardware , lack of a trusted hardware environment to support the blockchain, and insufficient coordination of software and hardware. Because of this, China has the following risks in the development of blockchain:
1. Technology risk . The underlying technology is subject to people. Following the Internet, it loses the core control of the next generation of trusted Internet.
2. Financial risks . Foreign representative open source platforms such as Fabric have seized domestic financial markets.
3. Economic risks . Libra and other foreign representative platforms seize the information and payment business of China's economic development, so that our economy operates on a platform that is not regulated and controlled.
4. National governance risks . Foreign open source systems extend to national governance systems.