Associate Professor of the Party School of Guangzhou Municipal Committee: Looking forward to the blockchain bringing new vitality to the city

The blockchain is an extremely important technological and financial innovation since the birth of the Internet. It is an innovative integrated application of many technologies, featuring data transparency, difficulty in tampering, and easy traceability. According to the scope and authority of the participants in the blockchain system, the blockchain is mainly divided into three types: public chain, private chain and alliance chain. According to the well-known big data and blockchain expert Melanie Swan in the United States, in the book Blockchain: The New Economic Blueprint, the blockchain can be roughly divided into three levels in practical applications: Chain 1.0 is an encrypted digital currency, Blockchain 2.0 is a smart asset and smart contract, and Blockchain 3.0 is a variety of applications beyond the monetary and economic sectors of health, education, and culture. The development of the blockchain at these three levels is not a process of sequential realization, but a process of common development and mutual promotion.

Blockchain industry is in the development window in China

The blockchain technology has developed rapidly and has achieved fruitful results in the fields of economy and finance. Therefore, it has been highly valued by many governments in the world. At present, the blockchain industry is in the development window in China. The relevant state industry management departments attach great importance to the cultivation and application of the industrial capacity of the blockchain, and actively take effective measures to promote the research, technology research and development and application promotion of the blockchain-related industries.

In August last year, the country's first blockchain electronic invoice was unveiled in Shenzhen. Since March this year, some taxis, subways, airport buses and other means of transport in Shenzhen have introduced blockchain electronic invoices. At present, Shenzhen blockchain electronic invoices have covered areas such as financial insurance, retail commerce, hotel catering, parking services, Internet services, and transportation. A few days ago, it was reported that the Guangzhou Development Zone used blockchain technology to promote the promotion of regulatory concepts and make registration approval more efficient. Behind the pilot platform is the support of “blockchain + AI” technology. The use of blockchain technology, address chaining, to avoid arbitrary changes, to prevent false addresses and illegal construction address registration. It can be seen that Guangzhou, Shenzhen and other places have become the important part of the blockchain industry, and the blockchain has become an important part of Guangdong's financial technology reform and innovation application.

Blockchain is essentially a trust mechanism

Blockchain is a data notarization and authentication technology that can prevent tampering. It is a distributed system of data assets circulation, which implements data privacy protection and data encryption applications. The blockchain is essentially a trust mechanism. Through decentralized accounting, machine trust is established and the trust mechanism of modern society is reconstructed. This is the most essential and core connotation of the blockchain.

Blockchain can promote trust network cooperation and stimulate institutional dividends. First, the blockchain network can promote information interconnection and interconnection, reduce information asymmetry, and enhance information transparency and trust. Secondly, the blockchain network can establish a data resource sharing mechanism to promote the integration of mechanisms and systems. Third, the open, trusting and fair environment provided by the blockchain network will help to achieve consensus and cooperation between the regions. In short, the blockchain provides a trusted network environment, which can effectively promote institutional transformation, institutional integration, create institutional dividends, and improve the efficiency of market resource allocation for talent, capital, and commodities.

Blockchain technology has broad prospects, but its development is still in its infancy, and there are still many challenges in the technical and security aspects. This is also a problem that needs to be focused on in future research and application blockchains. The first is the implementation of efficiency issues. The effectiveness of the transaction is affected by network transmission and is delayed. The second is the huge energy consumption problem. The generation of blockchain requires huge mathematical calculations and is very energy intensive. The third is the issue of regulation and standardization. In the blind spot of supervision, there may be some market entities that apply blockchain technology to the illegal field due to profit-seeking characteristics.

Blockchain will provide strong technical support for the new vitality of the old city

In October last year, General Secretary Xi Jinping inspected Guangdong to raise the "new vitality of the old city" in Guangzhou. Blockchain technology will provide strong technical support for the new vitality of the old city by building smart cities, developing new economic new kinetic energy, and strengthening the reform of “distribution services”. The development of blockchain technology can focus on the following aspects:

Establish a blockchain coordination and coordination mechanism and establish a strong coordination mechanism. Accelerate the construction of the standard system and explore the establishment of state-owned public chain technical standards. Strengthen the construction of public infrastructure and cultivate core technological innovation capabilities. Increase capital investment, gather a variety of resources such as production, education and research to carry out technological innovation.

Create a blockchain industry demonstration zone. Explore blockchain application solutions in various fields, form typical cases that can be promoted and replicated, attract clusters of upstream and downstream industries in the blockchain, and form an ecosystem of blockchain industry systems.

Building smart cities based on blockchain technology, providing strong support for urban grid management and public services. The use of blockchain distribution, difficult to tamper, reliability and other characteristics, to achieve the overall management of road, pipe network, buildings and other urban component data, to help relevant departments to locate, identify, video-aware devices and other deployment.

Create an open platform for government data sharing based on blockchain. Promote blockchain technology in big data fusion applications in the fields of smart education, health care, etc., and crack the normative problems of data sharing, security assurance, and privacy protection.

Enhance the reform of “distribution suits” and release new vitality. Application blockchain process, modularization, traceability and other characteristics, optimize work links, deepen the decentralization of power, reduce costs and improve efficiency.

Blockchain technology drives the transformation and upgrading of traditional industries, promotes the new economy, and exerts new kinetic energy. Expand blockchain applications in frontier information such as big data, artificial intelligence, and energy internet.

We didn't know the future of the Internet before. Now we don't know how much surprise the blockchain will bring us, but we can be sure that the influence of the blockchain should not be underestimated. The use of distributed trust management mechanism to build an honest, transparent and efficient operational framework, when the development of the blockchain ecosystem is accelerated, the prospects must be brilliant. Looking forward to blockchain technology has brought earth-shaking changes to our cities.

Author: Work Session, associate professor of the Department of the CPC Guangzhou Municipal Party

Source: Nanfang Daily , June 17, 2019, A14 Edition