Zou Chuanwei, chief economist of Wanxiang blockchain: the difference between the Token paradigm and the four dimensions of the account paradigm

Babbitt reported that on June 1, the China Blockchain Technology and Application Summit Forum hosted by the Chinese Computer Society (CCF) was held in Nanjing. Zou Chuanwei, chief economist of Wanxiang Blockchain, delivered a speech on “Blockchain and Financial Infrastructure”. Zou Chuanwei made a comparison of the Token paradigm and the account paradigm in four dimensions. In terms of economic connotation, Token can have the meaning of assets and liabilities, or it can not. Accounts generally have a liability meaning. In the implementation of the transaction, the Token has the characteristics of constant total amount when moving between addresses, decentralized transactions, and programmable based on smart contracts. Account transactions are credit risk, settlement risk, and programmable based on account authorization. In terms of openness and privacy protection, Token is highly open to users, anonymous in address, and not tamperable. User accounts under the account paradigm are associated with identification, transactions are trackable, and there is a risk of tampering. In terms of efficiency, Token is subject to the "impossible triangle" of the blockchain. The efficiency of the account paradigm can be high.