Blockchain ushers in a new cycle of industrial landing, the "chain for the chain" or the necessary stage

Original title: Blockchain: New Cycle of Industrial Links Breaks Through "chain for chain"

Reporter of China Business News / Zheng Yu / He Shasha

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From the technical exploration period to the opening of decentralized applications of Ethereum smart contracts, and now the development of the industry, countries and industries have gradually started to actively or passively embrace the emerging technology of blockchain.

In the blockchain industry, 2019 is not flat. After the advent of Bitcoin, crypto assets "bred" numerous myths of making money. Blockchain, as the underlying technology of crypto assets, has also been forced to equate with speculators, crypto assets, and ICOs.

At the same time, in the context of the realization of the practical value of specific scenarios and the emergence of multi-industry landing applications, blockchain has become a key word in the real economy and financial fields. As more and more scenes are discovered, it has become more and more widely accepted and concerned by the market. How to view crypto assets and technology, and how to explore the huge potential of blockchain technology, are waiting for everyone to answer.

Coin circle remediation VS chain circle "open the main door"

"The currency circle is now heartbroken, and no one dares to speak up." In mid-November 2019, a resigning employee of a virtual currency trading platform told the China Business Daily reporter. Continuing the high-pressure situation of regulators on virtual currencies, in 2019, China has successively introduced block chain supervision policies to continuously clear the obstacles for the development of the industry.

The data show that the remediation effect is obvious. The "China Financial Stability Report (2019)" shows that since 2018, all 173 domestic virtual currency trading and token issuance and financing platforms have all exited without risk.

Gao Chengshi, communication member of the Blockchain Special Committee of the Chinese Computer Society, said that in 2019, relevant state departments will further suppress currency speculation and use actions to indicate the future trend of the blockchain.

"Regulation has always been 'open the door, block the door'. The speculation in the country has been defined as the 'door'. If this kind of short-term profit-seeking, illegal and illegal activities are not subject to control, the probability of the application of blockchain is high. Applying the disengagement to the general direction of the real economy is also not conducive to the true long-term development of technology. "Chen Wen, deputy director of the Inclusive Finance and Intelligent Finance Research Center of Southwestern University of Finance and Economics, told reporters," We can see that supported by relevant policies, Blockchain applications are continuously deepening in the past year. "

As Chen Wen said, in addition to rectifying violations of laws and regulations to protect the blockchain technology, relevant plans for the blockchain are also continuously introduced to encourage and protect the innovative application of the blockchain technology.

In February 2019, the "Regulations on the Management of Blockchain Information Services" was formally implemented. The National Internet Information Office organized the filing review and announced the first batch of 197 domestic blockchain information service names and filing numbers. At the same time, Hainan Free Trade Zone (Hong Kong) Blockchain Pilot Zone, Huangpu District, Guangzhou City, Shibei District, Qingdao City, and Fuzhou City, Fujian Province, and other places have also issued blockchain-related policies.

Wang Pengfei, the founder of the TAS blockchain anti-counterfeiting traceability platform, which is also listed in the first batch of filing lists, told reporters that due to the characteristics of blockchain distributed storage, there are still various problems in information security. . To develop a new technology, it must be within the legal framework of the locality. If the blockchain wants to grow, compliance is a necessary prerequisite.

"Blockchain, as a new technology, is a mixed bag in the early stages of development. The emergence of filing is actually a recognition and encouragement of the blockchain. It should be supervised in the early stage of the industry, promote the further reshuffle of the industry, and leave innovative companies in the industry. Practitioners are clear about the future development direction, and also make people outside the industry more assured of the order of the blockchain industry. "Wang Pengfei said.

Liu Feng, director of the Blockchain Technology and Application Research Center of the Institute of Artificial Intelligence and Change Management, Shanghai University of International Business and Economics, and an invited researcher and professor of business at the Binjiang College of Nanjing University of Information Science and Technology, pointed out that in the current policy supervision, it has evolved from high-pressure situation supervision to Continuous monitoring of virtual currency financing and a combination of ways to allow blockchain applications to apply innovative experiments in a regulatory sandbox.

Blockchain ushering in industrial landing

In 2019, the blockchain industry has entered a period of rapid development after preliminary exploration and preparation, and landing applications have emerged.

Chen Yunfeng, a senior partner of Zhonglun Wende Law Firm, said that currently 506 companies have completed the filing of blockchain information services, and their fields involve traceability, certificate deposits, and bills. Although the current application scenarios of the blockchain are limited, in the future these major technological innovations related to national economy and people's livelihood are still worth looking forward to.

According to the statistics of the Interlink Pulse Institute, from January to June 2019, a total of 408 blockchain application projects were disclosed worldwide, which has exceeded the total of the projects disclosed throughout the year.

Wang Feng, the vice president of Hang Seng Electronics, once stated publicly that the application of blockchain has been separated from the application of coins and has gradually become an independent technical system. "We see that from the past small-scale applications and innovations to the rapid development cycle, many application scenarios have landed quickly. So we summarize today's time node as the cycle of the blockchain industry landing. From 2019, the block The application of chain technology will gradually enter the mature stage. "

The "China Blockchain Development Report (2019)" (hereinafter referred to as the "Report") points out that the exploration and application of blockchain technology is not limited to the underlying platform, and the application of scenarios in various industries has gradually increased, especially in the financial field. , Accelerated landing with blockchain-centric applications.

In June 2019, JD Digital's Big Asset Management Division and the blockchain team launched the market's first blockchain ABS standardized solution, which reduces deployment time by 85% compared to the original technology solution, and each business node can save each year The operation and maintenance cost exceeds one million yuan, which improves the transparency and accountability of the system among business participants and ensures the safe use of financial-related data.

It is worth noting that in the view of Liu Feng, the application of the blockchain industry in the past year is penetrating into the non-financial field. Blockchain has not only been applied in the fields of finance, traceability, certificate storage, etc., but also has made continuous progress in retail, medical, intelligent manufacturing, cultural tourism and other fields.

Multi-directional breakthrough "chain for chain"

"The past year has been a year in which China ’s blockchain development has gradually moved from a financial bubble stage to a 'realistic situation. "DeFi" (decentralized finance) has increased. However, in this process, a large number of enterprises and institutions will inevitably appear in order to explore the landing of their own business. The application of blockchain technology and industry is truly suitable for the phenomenon-level application of blockchain technology in the industry.

Gao Chengshi frankly stated that under the current circumstances. The blockchain system should have been the product of the full development stage of information and digitalization. Based on this, it is possible to distribute data consistently across the entire network and establish trust and interconnection.

Wu Tong, deputy director of the CECBC Blockchain Special Committee of the Ministry of Commerce and dean of the School of Digital Economy and Business, told reporters that 2020 is the decisive year for the landing of industrial blockchains. The difficulty of landing blockchains is not only due to technical bottlenecks and insufficient degree of scenarioization. More importantly, the lack of infrastructure and limited integration with other technologies. "The next step in the development of blockchain will be along these four dimensions, and truly move towards the industrial blockchain."

In Chen Wen's view, under the heat of 2019, the multi-centered and even decentralized model of the blockchain still needs an incentive mechanism to solve the "free-rider effect". If ordinary participants cannot be motivated, the core of the blockchain is Value cannot be fully demonstrated and applied in reality.

Liu Xingliang, Dean of the DCCI Internet Research Institute, said that the blockchain consensus mechanism will not only affect the economic level, but it will affect all aspects of social life in the future. Blockchain is fostering a "world-class" consensus. But it also needs to be seen that the current blockchain is still in the popularization stage. In the initial stage, it is more "reorganization" at present. Although the public chain has developed earlier, it is still applied at the virtual currency level. In the period of savage growth, in contrast, the development of private chains and alliance chains in different application scenarios is better.

It should be noted that Yao Qian, director of the Digital Currency Research Institute of the People's Bank of China, wrote that the blockchain technology still has deficiencies in performance, privacy protection, security, governance, and interoperability.

Liu Feng pointed out that at present, for the current blockchain industry, performance and security issues are the two most promising areas to break through. In terms of privacy, for example, the zero-knowledge proof represented by EY's open source Nightfall facilitates the application of blockchain to To B business. In terms of performance improvement, the beacon chain that is also being deployed on the Ethereum network also enables the beacon chain to manage consensus algorithms and communicate across shards to achieve rapid confirmation and high throughput by integrating sharding technology.

Wu Tong also expressed his expectations for the combination of encryption technology and zero-knowledge proof. He believed that "solving the contradiction between data sharing and privacy protection is a problem that the blockchain must urgently solve. At present, encryption technology and zero-knowledge proof are being implemented. Combining is an important direction. "

"The security issue not only refers to the security of the blockchain system, but also the security of the on-chain and off-chain junctions, of which the latter is more urgent than the former." Wu Tong added that the lack of governance involves multiple aspects, the existing chain There is also a lack of up-chain governance, including the lag of related legislative processes. The speed of improving on-chain governance will be faster than off-chain governance, but off-chain governance will play a vital role in the entire blockchain governance system. Achieving interoperability mainly depends on the development of cross-chain technology, and (predictably) the actual demand for cross-chain is huge.

As for interoperability, Gao Chengshi believes that this is the real problem that the blockchain needs to face in the future. Although some cross-chain systems are being developed in recent years, overall the goals and methods adopted by these cross-chain systems Is not particularly satisfactory. The real cross-chain should become the underlying infrastructure of the future blockchain. It is embedded between different blockchain systems and can actively adapt to different blockchain systems. It should not allow existing ones. 2. Different blockchain systems are transformed and adapted to another cross-chain system or target system.

It's also worth paying attention to issues outside of technology.

Chen Yunfeng specifically pointed out, "(It should not be ignored), at the legislative level, the legislation based on the development and practice of the blockchain industry is still almost blank, so with the implementation of blockchain technology, supporting regulatory policies or systems may also Gradually introduced. "

Xu Hongbo, member of the Information and Standardization Committee of the State Ministry of Industry and Information Technology and chairman of Chuangchain Data, also said in an interview with reporters that blockchain compliance can meet the problem of how online and offline laws can achieve consistency, and can be solved through a sandbox mechanism.