Text ｜ Interlink College
[Interlink Pulse] In the course of fighting the epidemic, various new business models and production relations have taken the air and have developed rapidly, and we have also seen new opportunities for the blockchain. Then the blockchain How to combine with new business models and new production relationships? At 8 pm on March 12, Interchain Pulse specially invited He Ping, the principal of the China Financial Research Center of the School of Economics and Management of Tsinghua University, Zhu Jiang, the general manager of Jinshan Cloud Blockchain and the digital financial department, and Tian Hongfei, the founding partner of Yuanwang Capital, as guests. CITIC Construction Investment Qin Yuan, an analyst at the Institute, was the moderator and started an online roundtable discussion on the topic of "new business models, new production relationships, and blockchain opportunities."
Qin Yuan: In this outbreak, an online-based business model has been developed. Which ones are sustainable, that the epidemic has only accelerated its development, and which ones are unsustainable, and disappear after the epidemic? Which business model are you most optimistic about in the future?
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He Ping: In terms of the financial sector, we recently did some surveys on the banking industry during the epidemic, and found that many financial institutions have worked hard to overcome the impact of the epidemic through technical means, such as launching zero-touch business, that is, business processing is carried out online . This kind of business launched during the special period of the epidemic is not believed to be a continuous measure, but in the long run, many related businesses have indeed been upgraded, and financial institutions have deepened their understanding of the trend of online intelligence. In 2020, the process of digitizing the business of financial institutions will be greatly accelerated. Cloud computing, big data, and artificial intelligence will become the basic functions of banks; the business processes of most commercial banks include customer service, product purchases, data analysis, and intelligent recommendation. Already have digital capabilities. Digital ecological co-construction is the future development direction of various banks.
Zhu Jiang: Professor He agrees with the trend analysis of digitalization and intelligence. I think the outbreak has greatly promoted the process of digital transformation of enterprises, and the country has brought digital governance to a new level of social governance.
In the financial field, digitalization and intelligence are more used to refer to digital finance or new finance. Digital finance is a very important basic service in the digital economy. The digital economy has three pillars, namely, the digitization of the industry, digital industrialization, and digital governance. Among them, the digitization of the industry is the digital transformation of the enterprise just mentioned. The digital transformation of the enterprise is divided into several steps, such as launching cloud services, big data related businesses, or traditional enterprises adopting the Internet of Things technology, which can help enterprises to digitally transform . The current new trend is to help enterprises expand new business ecosystems and obtain high-quality digital financial service support through blockchain technology.
The second pillar is digital industrialization. Many companies already have a large number of digital assets, which can be realized in a certain degree and in certain fields. For example, the financial field requires real business data of companies to achieve online digitization and intelligence. Provide contactless financial services, so digital industrialization needs to be combined with industrial digitalization.
The third pillar is digital governance. As a new economic form, the digital economy is a new way of operating in the digital world. The digital world is characterized by all related financing and loan services based on online real production and operation data. Therefore, digital governance needs to mention a new height, so that the digital economy can be carried out in a credible and reliable legal environment where there are laws to rely on and violations of the law must be investigated.
Finally, the new infrastructure is in full swing, and cloud computing, which is at the base of the digital economy, has ushered in the development wind. Cloud computing includes the underlying IaaS basic services, and the upper-level Pass services include blockchain, artificial intelligence, big data, the Internet of Things, etc. Technology has become the entry point for digital transformation of enterprises.
Tian Hongfei: Many of the things that happened in the epidemic have existed in the past, but some cannot be popularized due to policy restrictions, such as Internet medical treatment, and some are slow because users are accustomed to advance, such as Internet conferences, and some are compared with offline competition. The intense and always difficult to promote Internet education, the changes in these three areas in the epidemic will be lasting, and some, such as Yun Bundi, definitely belong to everyone, and some communities are fresh. If you ca n’t produce with traditional supermarkets, The advantages of quality and price make it difficult to sustain the achievements made in the epidemic.
Qin Yuan: We noticed that during the epidemic, production relations in many areas changed. For example, at the national level, government-led resource allocation solves the problems in the epicenter of epidemic situation; industry collaboration has eliminated barriers, such as the data of the three major operations and the data of BAT ; companies have shared employees. What do you think of this change in production relations?
He Ping: I think that some information sharing and interoperability may be temporary. Enterprises and stakeholders are united together in a special period. In order to maintain a consistent response to the epidemic, it is feasible to realize information sharing, collaboration and mutual assistance. Whether it will become a long-term, permanent production relationship needs to be seen, but one thing is certain, everyone agrees with the future trend of digital intelligence. These changes during the epidemic are very valuable, and we will retain some of the behavior during the epidemic in the future. For example, at present, my courses are conducted online. I did not particularly recognize the way of online teaching, but after this use, I found that online teaching and offline teaching are complementary, and I found some advantages.
A similar situation exists for the financial industry and other production service industries. In the past traditional service models and production methods, it was rarely thought of using online methods to solve problems, or the existing models were difficult to change. Everyone formed an inherent mindset and inertia, but this epidemic situation Force everyone to think about using the online method to solve the problem. Once the online method is found to be better than the offline method, the online activities will be retained after the epidemic is over. This may gradually promote the transformation of the entire economic model and even production relations.
Zhu Jiang: First of all, the epidemic situation has a great impact on the way our team works. In the original work, things that can only be promoted through the offline conference room. After passing the epidemic situation, even if everyone is sitting close, you can pass Online video conferencing is a way to promote relevant business decisions and development.
Back to the moderator's question, data access is the digital governance I just mentioned. First of all, because companies have not prepared relevant mechanisms in advance, the data connection may only be temporary, or many companies have to connect in order to establish themselves in the ecosystem. However, whether this production relationship can be maintained after the epidemic is over requires a set of digital Governance mechanism. Before the mechanism was established, it was a cyclical and rising process. My view is that blockchain is a catalyst for new production relationships and can effectively help enterprises achieve linkage with upper-level business and lower-level infrastructure.
Tian Hongfei: The public health epidemic definitely needs the government to take charge of it. As far as the data is concerned , I understand that the user behavior data of bat has not been reached. The sharing of corporate employees is very interesting. In 2015, I inspected the runway of flexible employment part-time. The imaginary future is that the waiter of Guomao Restaurant will work at Guomao at noon and work at Sanlitun Bar at night. After all, Guomao Restaurant is deserted at noon on busy evenings. Sanlitun is just the opposite. If you can be flexible Employment is a good thing for businesses and employees.
Qin Yuan: Let ’s start with the third question: What role can blockchain play in new business models and new production relationships?
He Ping: Blockchain is a distributed storage, but in applications in various industries, it also involves distributed algorithms such as distributed verification, supervision, transmission, and traceability. Through multi-party participation, information asymmetry and morality in transactions are resolved. Risk and other issues.
First, the epidemic has increased our reliance on digital and intelligent means and tools, and solved problems through technical means, including big data, cloud computing, and future 5G. This will lay a solid foundation for the promotion and use of blockchain. .
Second, the epidemic has enabled more people to communicate, and everyone has a clear understanding of the benefits of information exchange. After the epidemic, everyone may reconsider the issue of information sharing for their own interests, but this consciousness is retained. In the future, the blockchain can better solve the problem of information exchange and sharing through technical means.
In a sense, the epidemic has connected everyone more closely to the network of the digital world. In the future, the blockchain will rely on the network of the digital world to provide more possibilities for everyone, making the Internet from interoperability to mutual trust.
Zhu Jiang: Blockchain itself is not only a technology, but also closely integrated with business. The use of blockchain for individual businesses does not play a big role. If there are multiple participants or even the entire social level, blockchain can play a very important role.
I also mentioned earlier that at the level of social governance, blockchain can play the role of infrastructure. Then how can the blockchain better play the role of a catalyst for new production relationships, it needs to be combined with cloud computing, big data, the Internet of Things, artificial intelligence, 5G and other technologies to build a new type of infrastructure, including government-oriented , Medical, financial, etc.
And we need to promote the change of new production relations from different industries. I think the first is to start from the direction of smart cities and digital government, and the second area is the prosperity of digital financial infrastructure and the construction of legal and regulatory infrastructure. Then the entire new infrastructure can support the development of the digital economy infrastructure.
Tian Hongfei: In the control of this epidemic, the community has played the biggest role. User self-organization and data sharing applications have seen some performance, but real business applications still need entrepreneurs to discover.
Qin Yuan: In view of the above analysis, will your unit or individual be adjusted in the future?
He Ping: Let me talk about the work of the school. At present, many courses of the school are conducted online, but it is impossible that all courses are still conducted online after the epidemic is over. However, I think many teachers may choose to transfer some of the content of the lesson online, and the proportion of online and offline lectures will be greatly adjusted. Outside of teaching, I think online meetings are sometimes more efficient.
Zhu Jiang: We are willing to work with partners and customers to change decision-making mechanisms and interaction methods, and solve business decisions efficiently without contact. At the same time, we found that in addition to online meetings, online signing and strategic cooperation will become more and more process, becoming the new normal of the digital economy.
Tian Hongfei: As an early investor, although many project meetings are on zoom, I don't think it has changed in essence. As for investment, I will change my views on Internet medical care and education that were not so promising.
Mars Finance: For a long time, the development of human society has always been accompanied by changes in production relations and productivity. The interaction between the two has brought us a more comfortable living environment. In the past 10 years, the rapid development of productivity has entered the An era of relative excess, but despite this, blockchain is still a relatively unfamiliar field for today's mass society, so if the state encourages the development of blockchain, it will bring us new production relations Change? For example, how does the concept of "distributed" affect the existing corporatization system?
Zhu Jiang: I think there will be some changes, but the impact is still difficult, or the impact can be placed on a larger timeline, such as 10-20 years. The change lies in the fact that distributed commercial entities have already entered the trial stage. Not only are companies trying, employers may also choose new employment methods.
I think the new form of distributed business may not require too advanced abilities for employees. Instead, as long as they can contribute their own labor force to obtain corresponding compensation, such job seekers will be more and more. With the change in employment attitudes, the distributed business composition will form a new community culture, but it will not form a shock to the traditional company system.
The impact I think is to transform the original centralized decision-making mechanism and management mechanism into a distributed one. For example, the financial field is centralized around the digital asset registration model. In the future, asset registration can become distributed. This is also the field of digital economy. Basic services for advocating distributed finance. I think this can produce some changes in the short term, but it is still too early to talk about the impact on traditional financial services.
Chain News: Since 2018 , the Internet has always considered blockchain to be the fourth industrial revolution. Blockchain technology has always been regarded as the Internet 2.0 era, but blockchain technology has always been difficult to fly into the homes of ordinary people. However, we can see that this epidemic has a great impact on traditional industries. For the blockchain industry, distributed office has long been used to it. In this regard, how do teachers think, will the black swan epidemic be a turning point in the blockchain industry's opportunities for new business development and production relations?
He Ping: I think this epidemic will be a good opportunity for the development of blockchain in the commercial field and the establishment of new production relations, but I don't think it can be used as an inflection point.
I think the real inflection point in China is the 1024 speech. President Xi Jinping recognized and promoted the blockchain. But in a sense, the epidemic has accelerated the rapid promotion and application of the blockchain. On the one hand, everyone's awareness of digital intelligent services and production models has increased, which is an important ideological basis for the blockchain. More importantly, it has accelerated the construction of digital infrastructure, which is very beneficial to the development of the blockchain. I believe that the blockchain will accelerate its progress after the epidemic.
Zinc Link: As the main tone of the development of the new infrastructure this year, how can the blockchain seize this dividend and in what ways can it play a role? What is the focus?
Tian Hongfei: At the end of 2019, the country proposed a blockchain . Big data played a very important role in the epidemic. Recently, the country proposed IDC as an important part of large infrastructure. These are the benefits of blockchain . Data sharing is the significance of the existence of the blockchain. IDC is the computing foundation of the blockchain. I shared an article before and talked about the breakthrough of the landing of the blockchain in 2G applications. .