On December 10, the 2019 Blockchain Innovation Application and Digital Economy Forum was held in Hangzhou. In the roundtable session on the topic "How the Blockchain Empowers the Digital Economy", Ma Qianli, Vice President of Babbitt, and Wu Sijin, the founder of Complex Beauty, Yu Zhibei, the co-founder of Yunxiang Blockchain, Li Zhe, the representative of Conflux East China, and Xi Tower Technology CEO Wang Xiaoliang started a wonderful conversation.
The following is a collection of golden sentences
The blockchain is very similar to Taobao in its early years. At that time, whether there were any online sales was not enough to constitute a huge difference between the two brands. After boiling frogs in warm water, after three or five years, the gap appeared, and it was too late to chase. ——Wu Sijin
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There is no explosion in the industry because this is a long-term process. As long as we live and live tomorrow, each of us will have a great opportunity. ——Wu Sijin
Is blockchain the same as distributed databases? No, you can't overlay blockchain with the framework of existing business. You need to combine blockchain characteristics to create new business models. ——Yu Zhibei
Blockchain lacks killer applications to open up the entire market, and there is no clear idea to help companies improve efficiency. These are two huge challenges. ——Li Zhe
Within the next two years, whoever can win some big government orders from North, Shanghai, Guangzhou, and Shenzhen, or other orders, will have a very big advantage if they get stuck. ——Li Zhe
If the industry is to move forward, practitioners must look like sowing seeds, not like setting off fireworks. We must rely on this industry to have a large-scale rise in doing basic services. ——Wang Xiaoliang
▲ (From left: Ma Qianli, Wu Sijin, Yu Zhibei, Li Zhe, Wang Xiaoliang)
The conversation is as follows, organized by Babbitt:
Ma Qianli: Has the market's attitude towards blockchain changed since the 1024 New Deal? Does this mean some opportunities and challenges?
After 1024, the number of consulting blockchain services was particularly high, increasing by 5-10 times, but not so much willing to spend money. I think it is cheaper to build a chain and it is the most important to generate benefits.
The difficulty in promoting the blockchain business is not in technology, but in multi-party participation and business collaboration. After the national statement, companies will have a strong driving force to implement and implement regional blockchain. It is indeed easier for us to push the business at this time.
But with so many application scenarios, we need to choose the most suitable one that can truly solve its business pain points, which has become a challenge. At this time, there is something to do and something to do.
From the perspective of the subsequent economic environment, it is not so optimistic. I think it is particularly important for everyone to control cash flow.
Attitude has definitely improved, but blockchain entrepreneurs will still have challenges in business promotion, and it has two reasons.
First, there is no one core application of the blockchain that can open up the entire market. Secondly, there is no clear idea of how blockchain can help companies improve efficiency. How much will corporate efficiency and revenue increase due to blockchain? can not see clearly.
Some companies are willing to do blockchain applications such as source tracing. That is because they are involved in the concept of blockchain and can be hyped. It really doesn't matter much to business efficiency.
Around 1024, everyone was most distressed by market education, and a lot of time was spent on it.
Where is the opportunity? The opportunity is that governments and some large businesses recognize the need to protect their data. Precisely, many blockchain projects and businesses cut in from the perspective of data governance in order to make better use of data resources.
The challenge? We say that the industry lacks killer applications. The reason is that blockchain is a protocol mechanism, like the TCP / IP protocol of the Internet. At the same time, we need to do applications such as the Shanghai Stock Exchange and Taobao. Do this together.
Ma Qianli: After 1024, we felt that there were many opportunities, but it was very difficult to seize them. On the one hand, our internal skills seemed to be insufficient, on the other hand, the motivation of others to spend money was not so clear. The second question is that many companies want to be on the chain, but their needs are strange. How do you turn these unconventional needs into our regular services?
The blockchain is very similar to Taobao in its early years. At that time, whether there were any online sales was not enough to constitute a huge difference between the two brands. But like boiling frogs in warm water, after three or five years, the gap appeared, and it was too late to catch up.
Today, the impact of data on the chain may not be significant, but with more companies on the chain, after three or five years, you may no longer be able to reverse this gap. I feel like investing a little bit now to take up a pit, but don't immediately want to make money. I often use this example to scare people who don't do blockchain.
In fact, companies have a much deeper understanding of blockchain technology than before. They asked us about the blockchain solution with pain points, and how the blockchain can empower these industries. I think the blockchain application was generated during the collision between the two parties.
Some companies believe that blockchain will have little effect on them in the short term. This is a misunderstanding. It is a step-by-step process. The blockchain will change the way the entire business collaborates and even the business model of the entire business.
Some companies feel that the blockchain does not seem to be different from a distributed database. In fact, you cannot overlay the blockchain with the existing business framework. You need in-depth analysis. You must think about combining blockchain characteristics to create new businesses Mode, this should be something everyone needs to do.
In the early days, when AI technology came out, entrepreneurs also tried a lot of directions until they found that face recognition was particularly matched, and now face recognition is everywhere.
The blockchain is currently in the early stages of AI, and there is no one classic application that can be found. Everyone is doing small orders, and some are outsourcing companies.
The blockchain we want to do does not match the current infrastructure. The Internet actually lacks a storage layer, and all data is monopolized by the companies at the top of the pyramid. In my opinion, if the production relationship does not change and the way data is generated does not change, it will not bring about substantial changes in the blockchain.
Where does the opportunity for blockchain come from? I think one is opportunity and the other is fear. The opportunity is to say that there are various companies that want to use blockchain. The fear is that when someone in the industry starts doing this business, it will squeeze my living space.
Our difficulty lies in understanding the business and needs of the enterprise. Each of our blockchain attempts will eventually bring a good opportunity to this industry.
Ma Qianli: Are you committed to the blockchain, do you have a grand vision to support you to survive?
Everyone has seen that there is no explosion in the industry. We all understand that this is a long-term process. As long as we live and live tomorrow, each of us will have a great opportunity.
White cats and black cats are good cats when they catch mice. No matter what policy is not policy, in the end, we have to solve the problems of SMEs. What we see is the transformation of the information Internet into the value Internet. The first step in our blockchain is to put all the valuable things on the chain, such as bonds, corporate white bars, warehouse receipts, equity, etc. This is the greatest Step. In addition, data ownership now belongs to financial institutions and BAT. Exactly, only the blockchain can change this.
In the end, the direction of our efforts may be the collapse of large companies, and all workers, service providers, and individuals will provide their own value on the blockchain.
I think blockchain can free more workers and creative people and regain their freedom. And, redistribute wealth more equitably.
Ma Qianli: Alliance chain companies and listed companies will integrate more smoothly with enterprises, and the difficulty and complexity of public chain project participants will be much higher. What are the solutions?
Conflux first did the public chain, and now we are also doing the alliance chain, which is equivalent to dividing into two teams to do it.
From the perspective of Conflux, the public chain is the bottom layer and the alliance chain is the side chain. When talking with companies, we will of course ask them if they are willing to access the underlying public chain. If the answer is no, then we will be a sidechain.
I think the alliance chain is not so difficult in terms of technical difficulty, and the competition will be more intense. In my opinion, the domestic alliance chain entrepreneurship, card position is very important, I estimate that in the next two years, who can win the North, Shanghai, Guangzhou, Shenzhen government orders, or other orders, stuck position , That would have a very big advantage. After pushing the alliance chain technology and then pushing the public chain, your position in the industry will be better.
I think that if the industry wants to move forward, it must be like seeding, not fireworks.
What we have been doing since 2016 is to nurture enterprise users and some enterprise-level system solution providers. Because, we must rely on the industry's large-scale rise to do basic services. And it is precisely that from some data, there are not more than 1,000 active blockchain companies in China, which is not many in any of the traditional industries.
We are an open source community, not to mention how noble, but we are willing to grow with the industry.
Ma Qianli: Will there be unicorns in the industry? What is the plan for 2020?
Our goal next year is definitely to expand the market. Huawei and Ali do not rely on technology to succeed, but on the market. We are relatively mature in technology. Nowadays, enterprises are so difficult. We have no money, so we try to make it cheaper as much as possible to give everyone some benefits.
I think the next 2 to 3 years will be a big time for the alliance chain. Whoever can get stuck will be better in the future competition.
The emergence of unicorn companies in the blockchain industry is a historical necessity. If there is no unicorn, it means that everyone's vision is wrong.