On the evening of February 29, the fifth lesson of Babbitt Industry Orientation Class continued. In the live broadcast, BlockVC founder Xu Yingkai said that blockchain has three application levels, blockchain 1.0 is currency, blockchain 2.0 is contract, and blockchain 3.0 is collaboration. The three levels have different application scenarios. The most successful application at the currency level is Bitcoin, which is used for transfers, remittances, and payments. The contract level is represented by Ethereum, which can realize stocks, bonds, loans, securities settlement and so on. At the level of collaboration, blockchain can be used in identity authentication, notarization, auditing, logistics, medical care, etc. Landing in the above scenario, the blockchain has become the basis for "Internet of Everything."