Beijing University of Posts and Telecommunications Yang Xuecheng: "Manufacturing Blockchain" has Full Potential

Yang Xuecheng, deputy dean of the School of Economics and Management of Beijing University of Posts and Telecommunications, said that the core of blockchain technology is distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithms. These technical characteristics can promote supply chain collaboration and thus enable the development of manufacturing. In his view, the blockchain is based on distributed network bookkeeping, which enables peer-to-peer transactions without the need for a third party, greatly reducing transaction costs between various links in the industrial chain and improving collaboration efficiency. Yang Xuecheng said that it should be seen that "manufacturing + blockchain" has full potential. Yang Xuecheng explained that the integration of the two industries in China is accelerating. The Industrial Internet is leading the high-quality development of the manufacturing industry. The future manufacturing industry should be "data-driven and intelligently controlled." Such data characteristics are more conducive to direct conversion into productivity. In addition, there are many manufacturing links, complex participants, and multi-agent interaction is required. Therefore, they must rely on collaboration mechanisms, which make it possible for manufacturing and blockchain to work together.