Yao Qian: Need to strengthen on-chain and off-chain data governance and establish a blockchain digital governance system

Recently, Yao Qian, director of the Science and Technology Supervision Bureau of the China Securities Regulatory Commission and former director of the Digital Currency Research Institute of the People's Bank of China, published an article "High-quality Blockchain Development and Data Governance." The article points out that how to develop a good blockchain is a key proposition that needs to be answered urgently. This article believes that it is a pragmatic strategy to start with data storage and sharing. Considering that the technological frontier is in the public chain, we should support the research of the public chain. In order to prevent risks, the public chain must be transformed. Based on the actual environment, the alliance chain may be a better choice for application landing. The application and innovative development of domestic cryptographic algorithms should be strengthened to ensure the security and controllability of China's blockchain. At present, the most important thing is that we should promote the high-quality development of the blockchain. To this end, we need to strengthen on-chain and off-chain data governance (Data Governance) and establish an effective blockchain digital governance system.