How does the blockchain build a "gentleman's country" for industrial collaboration?

Text: Interchain Pulse · King Go

Source: Interchain Pulse

The "gentleman's country", which "keeps track of the road, stays closed at night, does not deceive children, and does what is necessary", is proposed by Meng Yan, deputy dean of the Digital Asset Research Institute, and a world of industrial synergy that can be constructed by blockchain.

At the "IN-Chain Global Blockchain Summit" hosted by Mutualchain Pulse on December 14, Meng Yan proposed that the significance of the blockchain lies in the fact that it has created a "trust machine" of the "integrity zone." In this area, users can choose to enter or not to enter, and the cost of data on-chain is required to enter. Once in, you can enjoy highly trusted transactions.

This is one aspect of the blockchain industry's contribution to industrial collaboration at the conference on the theme of "industry collaboration in the blockchain era." In addition, the remaining 30 big coffees also raised more perspectives on this topic.

The key to blockchain industry collaboration: trust, efficiency, cost and incentives

Regarding the blockchain and industry synergy, Yan Xide, Executive Dean of Qingdao Chain and Bay Research Institute, made a comprehensive discussion on the roundtable "Relationship between Industry Collaboration and Blockchain" at the conference.

Yan Kunde believes that there are four main words in blockchain collaboration: trust, efficiency, cost, and incentive. The purpose of industrial collaboration is to increase the value of these four directions.

First, in terms of trust, the blockchain can establish a trust mechanism on untrusted network platforms. Although it is impossible to distinguish the authenticity of the on-chain data, it can ensure that the data cannot be tampered with after the on-chain. In terms of efficiency and cost, the on-chain of industrial data can sometimes effectively improve efficiency and reduce time cost, material cost, capital cost, labor cost, trust cost, etc. The application of blockchain is immediate in terms of efficiency and cost. Finally, in terms of collaboration, Yan Yande believes that the ultimate value of collaboration is still to motivate both the management and the participants. This is the most important difference from the current centralized business model.

After analyzing the points put forward by Yan Kunde, Mutual Chain Pulse observed that many big coffees in the field of blockchain have mostly discussed the four aspects of "trust, efficiency, cost, and incentives" on the synergy between blockchain and industry. . Therefore, the text will discuss these four aspects in turn.

Trust: Building a "Gentleman's Country" of Industrial Synergy with Blockchain

From the perspective of trust, Meng Yan, deputy director of the Digital Asset Research Institute, proposed at this "IN-Chain Global Blockchain Summit" that the blockchain will promote the birth of a "gentlemen's country" for industrial collaboration.

Regarding the issue of industrial synergy in the blockchain era, Meng Yan, deputy director of the Digital Asset Research Institute first cut in from the perspective of economics, and analyzed the contradictions that data will face when data becomes a new factor of production. Therefore, the advantages and risks of current centralized solutions.

It is further proposed that the significance of the blockchain lies in that it has created a "trust machine" of the "integrity zone". Its characteristics have been integrated through a set of technical infrastructure and a series of thinking methods to construct a system where everyone can trust each other. The "Special Zone" means that it is a special area that appears in our economic and social life. In this area, you can choose to enter or not enter. There is a cost to enter this special zone, that is, you need to put data on the blockchain. Once inside, you can enjoy highly trusted and lubricated transactions.

Meng Yan described it as a "gentleman's country" that "does not keep track of the road, does not close the house at night, does not bully the child, and does what he says." Because on such a new mutual trust infrastructure, the relevant information of the entrants will be traced and cannot be tampered with, which will make the cost of evils, breach of contract, and fraud in the SAR unimaginably high.

Later, Long Wenxuan, the Chinese manager of the super ledger, analyzed the method of solving the trust problem in the collaboration between blockchain and industry from the practical point of view, and introduced specific cases. Tencent Cloud leverages Tencent Cloud's TBaaS platform and Hyperledger Fabric's blockchain technology to help warehouse receipts pledge financing business.

In the past, companies focused on the pledge cost of goods and the time efficiency of financing. Financial institutions focus on risk control, that is, the authenticity and security of warehouse receipts. Warehouses need to improve service capabilities. Electronic warehouse receipts need to be circulated in order to play the properties of financial instruments.

Tencent Cloud and partners facilitate the use of blockchain technology to enable business platforms, and the full pledge process business is carried out quickly on the blockchain, accelerating the entire credit process. Establish business trust between different entities to achieve multi-party authority and collaboration. While ensuring the credibility and supervision of data assets, it can also improve efficiency.

Efficiency and Cost: Fairness brings efficiency and efficiency leads to collaboration

The promotion of the efficiency and cost of industrial synergy by blockchain technology was proposed by Yu Jianing, president of Huobi University. Still, at a blockchain technology summit last year, Yu Jianing, the president of Huobi University, proposed that the best way to form an industrial synergy is blockchain technology.

At the "IN-Chain Global Blockchain Summit" hosted by this interchain pulse, Yu Jianing further discussed the relationship between blockchain and industry synergy, and mentioned the perspective of efficiency.

Yu Jianing first described a case. The German company Bosch and the blockchain company cooperated on the "5G + Internet of Vehicles + Blockchain" project to connect cars to cars, which can be connected in a series, and the distance between cars can be kept very small. . The front car breaks the wind, and the rear car reduces the wind resistance, thereby reducing the energy consumption of the rear car.

To achieve this model, a fair distribution mechanism is needed to allow cars to allocate transactions between cars. However, the transaction between things is facing difficulties. Therefore, the participation of the blockchain is required in the industrial coordination link, and each car is equipped with an internal private key.

According to this case, Yu Jianing summarized the application logic of blockchain industry collaboration.

I. Technology realizes transactions: New technologies create transactions. Without the blockchain, transactions and efficient distribution between vehicles cannot be performed.

Second, the transaction creates fairness: The transaction will bring about a fair distribution, which will make a fleet of cars line up, save money for the cars behind and pay the cars in front, and reduce the cost of sharing all cars.

3. Fairness brings efficiency: But distribution is not an end, and transactions are not ends. The value brought by distribution is the end. From this case, it can be seen that transactions and distributions will bring increased efficiency and reduced costs.

Fourth, efficiency leads to collaboration: At the same time, efficiency leads to collaboration, which is the key point. If all cars can reduce energy consumption by joining the system, it will be possible to achieve new types of collaboration between things, beyond the current way of collaboration in the Internet era.

On the basis of theory, Lai Xin, Chief Engineer of Thunder Chain, introduced the application scenarios of solving the efficiency problem in the blockchain industry collaboration. In the case of real estate registration, the problem of efficiency in collaboration is solved.

In March of this year, the General Office of the State Council issued the “Notice on Compressing the Real Estate Property Registration Time” and proposed that by the end of 2019, the time for general registration and mortgage registration in all cities and counties nationwide should be reduced to less than 10 and 5 working days, respectively.

Blockchain combined with the registration of real estate, opened the city's notary service, and improved the efficiency of work, which can reduce the online efficiency to half the required time. Not only that, as a good regulatory technology and weapon, blockchain can also comprehensively monitor real estate information and bring more standardized tax collection.

In addition, the super ledger also has related case sharing. With the help of Hyperledger Fabric, China's first blockchain trade financial service platform has been implemented, and the efficiency and credibility of cross-bank transactions have been improved.

Previously, China's trade finance business relied on the SWIFT system to provide information exchange support; domestic letters of credit between banks and communications in the Forfeiting secondary market were still carried out by post, telephone or email; business standards across industries were not uniform. Later, China Minsheng Bank, Bank of China and China CITIC Bank formed the Trade Finance Alliance. The platform used Hyperledger Fabric as the underlying framework and implemented in-depth custom development in accordance with China's banking regulatory requirements.

The data of this system can be exchanged quickly. It may have taken one day or two days to exchange one piece of information. At present, basically all the banks on the chain can see relevant information in one second, and the efficiency improvement is very obvious.

Incentives: The incentives behind collaboration are the driving forces of interlinking

The incentive value of blockchain and industry synergy is also expressed by Meng Yan, vice president of the Digital Asset Research Institute. Meng Yan believes that the realization of the "gentle nation" of the blockchain industry requires a set of development ideas.

First of all, it is mainly to establish a trust ledger. When your cooperation scope reaches a certain level, it will definitely exceed the trust boundary. At this time, a distributed ledger must be established. Secondly, to establish responsive data integration, we must not only apply data integration, but also protect various data property rights and data governance rights, and effectively and accurately measure market value of data value. Responsive data integration and cross-validation Is a very important method.

At the same time, the incentive mechanism is crucial. This incentive is not necessarily money, it can also be a point. Finally, a certain error correction mechanism is needed.

In terms of incentives, Lai Xin, Chief Engineer of Thunder Chain, also introduced the practice case of Thunder Chain.

In the advertising marketing scenario, advertising agency platforms often face problems such as fraudulent advertising data and inability to directly and accurately market. Customers of Xunlei Chain want to enable their advertising platform to more accurately target users when conducting advertising marketing.

Therefore, the project uses the blockchain to incentivize brand owners to help divert and record the information of users who have been transferred; according to the record of the brand owner's contribution, the advertising costs are given back. On the other hand, it also records the placement of advertisements through blockchain technology to provide brand owners with more credible advertising data.

In addition to this landing application that exerts its "incentive" value, Lai Xin also announced that Thunder Chain will soon be fully open source, and this is probably not the era of the blockchain, and it is an incentive for enterprises to coordinate industry.

Many industry experts and business executives discussed the role of blockchain in promoting industrial trust, improving efficiency, reducing costs, and achieving incentives from multiple dimensions. In fact, the promotion of industrial synergy by blockchain mainly falls in these aspects, but it is far more than that. How the future of blockchain will lead the industrial synergy development is worth looking forward to.

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