Zhu Jiaming: Blockchain will be the basic structure to rebuild human trust

Author: Sumiko

Source: Zero One Finance

On January 15, 2020, under the guidance of the Zhongguancun Management Committee and sponsored by the Zhongguancun Equity Investment Association, the eighth "Innovation and Capital Forum in an International Perspective" held by Zero One Finance as a strategic cooperation medium was held at Beijing Four Seasons Hotel.

At the forum, Professor Zhu Jiaming, a well-known economist and chairman of the Academic and Technical Committee of the Digital Asset Research Institute, gave a keynote speech, "Actively Facing the Challenges of the Global Trust Crisis and Trust Deficit-Blockchain Will Rebuild the Infrastructure of Human Trust ". Zhu Jiaming, who is attending the United Nations Blockchain Conference, addressed the conference through a video and commissioned Bai Liang, the executive vice president of the Digital Asset Research Institute, to explain the speech on the scene. Zhu Jiaming pointed out that in the era of the digital economy, human society is facing an increasingly serious "trust crisis". At the same time, traditional means of coping with the crisis of trust have failed, and the influence mechanism of government and other organizational forms has been lost. The advantages of the distributed node network, big data and algorithms, and smart contracts that the blockchain has will make the blockchain an infrastructure that supports world-class consensus.

1. The crisis of human trust in the digital age

According to Zhu Jiaming, the "crisis of trust" since the 21st century is the "crisis of trust" that human beings have entered the information age, and have been deepened and spread in an all-round way since the Internet era. At present, there are many mistrust in human society, including: mistrust of government, mistrust of markets and commerce, mistrust of laws, mistrust of knowledge, mistrust of power elites and experts, mistrust of politics, political parties, politicians and media, mistrust NGOs, distrust traditional moral framework.

At the same time, we should also see that the current crisis of trust is different from the crisis of trust in the industrial age, and is mainly closely related to the following, including changes in authenticity, ownership, data and information protection, and wealth forms.

The crisis of trust in the digital age is also bringing serious consequences, such as the cognitive crisis caused by the "echo room" effect, disagreeable communication difficulties in discussions, political dilemmas and the shrinking of public space, and the crisis of public trust in governance and institutions , The destruction of democratic principles and the rule of law, the increase in economic inequality, the problems caused by globalization, disorder, hatred, conflict, terrorism, turbulent populism, the cost of building trust, the erosion of universal values, Trust deficits, and even trust collapse.

At the same time, traditional approaches to coping with this series of crises of trust, including religion, moral education, ideology, cultural unification, reform of economic and political institutions, and rational consensus are gradually becoming ineffective. The influence mechanism of government, large enterprises and other private economic forms, international organizations, including the United Nations and the Group of 20, non-governmental organizations, the Internet community, and other organizational forms is also gradually lost.

2.Blockchain technology is an infrastructure that supports world-class consensus

Based on the above situation, Zhu Jiaming proposed that the solution to the crisis of trust in human society is to use blockchain technology as the basic structure to support world-class consensus.

He believes that blockchain technology has the advantage of rebuilding trust, including distributed node networks, big data and algorithms, and smart contracts: "code is law." At the same time, blockchain technology has the following characteristics, such as the development of distributed platforms to solve supersovereign collaboration, misinformation, and lack of supervision.The blockchain is based on computing, storage, and network sharing models from multiple centers. Provides big data sharing and evidence preservation. Blockchain protects privacy through zero-knowledge proof and privacy calculation protection, and can verify without revealing data. Blockchain provides the basic means for building a digital economy and digital wealth. The blockchain itself is a New community.

Therefore, the application of blockchain technology can avoid false science and knowledge in the post-truth era, which threatens the integrity of social networks: the cascading effect of trust, the manipulation of existing information by companies, the potential psychological effects of the economic downturn, and distrust. Issues such as social fragmentation, and the historical transformation of human civilization from letter-based knowledge to digital-based knowledge, digital exploration and digital identity, trust computing, dissemination, renewal and screening, trust transparency, and individual and organization compliance with morality and integrity , Does not participate in the production and distribution of fake data, the trust of individuals, society and institutions provides the basis.

Blockchain as a platform will be beneficial to the rules of the sharing economy, cooperative competition, inclusive finance, digital democracy, "positive sum game" rather than "zero sum game".

In the end, Zhu Jiaming said that whether in the international vision of 2020 or in the 2020s, the international vision of the next ten years, no matter how we consider technological innovation or changes in the capital model, we should also pay attention to the blockchain thinking!