On December 20, Zhang Xiaojun, director of Huawei's blockchain project, addressed a speech at the "2nd International Summit of the Blockchain Industry and Entrepreneurs", pointing out that there are currently three major misunderstandings in the market's understanding of blockchain: .Blockchain is not equal to virtual currency. Virtual currency is just an application mode of blockchain. 2. The blockchain is not equal to a distributed database. The blockchain requires multiple centers, and data tamper-proof can be traced. Distributed databases are mainly virtual centers. 3. Blockchain is not equivalent to replacing the Internet. Blockchain is a component of the Internet, which supplements the Internet's transformation from information transmission to trusted value transmission.