National Distinguished Professor Cai Weide: China wants to use the opportunity of blockchain technology to become a technological powerhouse

On December 31, Cai Weide, a nationally-appointed professor and a guide from Beihang University, published an article in China Financial Information Network, "Blockchain: A Chance for a Powerful Science and Technology Nine Years". The article proposes that the blockchain is "five to five and not to be." Five main points of the blockchain: First, we need our own original blockchain technology, we must lead the world, and we must have original commanding heights. The second is that the blockchain technology must be deeply integrated with other technologies; the third is that the blockchain technology must be deeply integrated with finance to serve the real economy and undergo deep reform; the fourth is that China must take advantage of this opportunity to become a science and technology powerhouse. There must be innovation, not just learning. Fifth, relevant Chinese departments and responsible leaders must pay attention to the current status and trends of blockchain technology development.

Blockchain five don't: first don't, don't follow foreign technology all the time, and finally we have to catch up or even surpass; second don't, don't think that putting the blockchain in modern business processes is enough. In fact, it cannot be achieved at all, because there must be supply-side structural reforms to effectively provide supply and demand in various industries to provide services. Third, do not deploy a chain that has issued coins (to evade supervision) and a chain that disrupts the order of China's financial market will not be allowed. Staying in China is not a "safe and orderly" development. Fourth, do n’t think that this is just the application of blockchain technology, and that you want to lead the world in technology. Fifth, do n’t, do n’t be confused about the current status and trends of blockchain development.