Chen Zhong, Ministry of Education: The technical connotation of blockchain needs to be mapped to the meaning of social governance

Chen Zhong, deputy director of the Computer Education Specialty Committee of the Ministry of Education and director of Peking University's Financial Informatization Research Center, believes that the technical connotation of blockchain is an interlocking distributed computing system that realizes a shared distributed ledger. Its technical connotation needs to be mapped to the meaning of social governance. The application characteristics of the blockchain are multi-party participation, distributed anti-destruction, traceability of the entire network, and the use of smart contracts to trigger the automatic execution of the machine. All these features can be transformed into programmable plus incentives, value storage and transfer in the digital economy. Collaborate to improve the quality of government services and reduce costs, and use smart contracts to automate social governance rules and capitalize data.