Babbitt live 丨 Zhang Laiwu: In the era of digital economy, digital currency and the sixth industry are the main battlefields of blockchain applications

Babbitt reported on the spot that on December 5th, at the "Hainan Free Trade Port Digital Economy and Blockchain International Cooperation Forum" hosted by the Department of Industry and Information Technology of Hainan Province, chief economist of the South-South Cooperation Financial Center and Fudan University Zhang Laiwu, president of the Sixth Industrial Research Institute and former vice minister of the Ministry of Science and Technology of China, delivered a keynote speech, "Sixth Industrial Theory and Digital Economy Development."

Zhang Laiwu said that the emergence of the digital economy is a historic sign of the history of human civilization. It signifies that industrial civilization has fallen and that civilization in the new era will replace industrial civilization. In the alternation of old and new civilizations, blockchain will be the key to affecting the development of an enterprise, a region, and a country.

For the blockchain, Zhang Laiwu believes that it should not be simply classified as a technology, because technology is the concept of industrial economy, which is outdated. Blockchain is a three-helix operation in science and technology application scenarios. It is a basic system operation and an operating model.

The main battlefield of industrial application of blockchain will be concentrated in two places in the future, one is digital currency. In the future civilization, transactions are the first to promote production. Therefore, digital currencies must be an unstoppable development battlefield of "blockchain +". The second main battlefield is the sixth industry . The sixth industry is a fully developed digital economy. After people are rich in material, they emphasize the sharing economy based on spiritual consensus. In the operation of the sixth industry, the boundaries of enterprises have been broken. Blockchain is an important micro-business model of the digital economy and an important macro-social governance model. A model of the development of meso-social organization will be ubiquitous.

• Babbitt live | I heard these "different" views at a conference attended by more than 100 blockchain investors
• Kelly Loeffler steps down from Senate seat, Bakkt welcomes new CEO
• Regarding the Ethereum Istanbul hard fork, we need to understand these (with user guide)

The following is the full text of Zhang Laiwu's speech, organized by Babbitt:

The emergence of the digital economy will rewrite the economic history of mankind

The emergence of the digital economy is not only a historical event that marks the history of human economics, but also a historical sign of the history of human civilization. It signifies that industrial civilization has fallen and that civilization in the new era will replace industrial civilization.

The civilization of the new era is a civilization of the innovation era, a civilization of the digital age, and a civilization of the sharing era. The emergence of the digital economy started the emergence of the Internet economy.

After the emergence of the Internet economy, from Moore's Law to the exponential growth of data, it brought subversion to industrial civilization. In particular, the exponential growth of data has brought a new factor of production: data. As a new factor of production, data appears for the first time in the history of human economics. What used to be is labor time, monetary capital, and land.

After the emergence of new production factors, the fourth industry was born. In this sense, from Moore's Law to the exponential growth of data, the primary, secondary and tertiary industries that we are familiar with, and the tertiary industry theory are outdated. The fourth, fifth, and sixth industries have been born, so the nature of the digital economy is to produce the fourth, fifth, and sixth industries.

The emergence of the data economy will rewrite the economic history of mankind and reorganize the development history of human civilization. This is my first point of view.

Our digital economy is beginning to connect with the fourth industry. Once the data of new production factors is born, it appears through the platform of the fourth industry Internet economy, and it is processed into information. Therefore, the original data becomes information for information application.

The deepening of the fourth industry is from data to information to knowledge systems. As a symbol of the fourth industry, artificial intelligence can process data into information, and it can process knowledge labor, replacing human brain labor. In the era of industrial civilization, machines replaced human physical labor, and now the emergence of the digital economy, artificial intelligence replaces human mental labor.

We don't have to worry. Just like when machines replaced physical labor, human beings used their physical strength for mountaineering and marathons, and created a new sports industry. Now that it has replaced human mental labor, many doctors rely on artificial intelligence to read films. When doctors are no longer needed, our human brain labor begins to apply the fifth industry.

The fifth industry is a smart industry that emerges on the basis of sufficient intelligence. It is a cultural and creative industry that generates human spiritual and cultural needs. Therefore, the fifth industry is after the industrial civilization has fully developed, humans have entered the post-material era, and the mainstream of people's lives is based on spiritual needs. At this time, his life, his products, and his services are in the fifth industry It shows human cultural creativity and human wisdom.

The fifth industry is cutting-edge innovation based on cultural creativity and science. At this point, we are creating a wisdom factor when designing industrial theories. This wisdom factor is consistent with our traditionally familiar concept of human capital, but it emphasizes that this factor leads to the scientific frontier knowledge directly entering the enterprise and entering the business, without the need for technical transformation. Therefore, technological innovation is a single-line innovation of industrial innovation. But scientific innovation itself can bring direct innovation to the fifth industry, and there are also many examples in the fourth industry. In such a knowledge system, we finally believe that the digital economy is ultimately an inheritance relationship, a substitution relationship, and a fusion relationship with our industrial civilization. This is what we call the future sharing industry, cross-industry integration, and system sharing. This is our sixth industry.

The sixth industry is a new industry produced by cross-industry integration. It is a shared industry. Only after the digital economy is fully developed and people are rich in material, the sharing economy is based on the emphasis on spiritual consensus. Such a sharing economy is the sixth industry. This is the first point I said today.

The main battlefield of the blockchain: one is digital currency, the other is the sixth industry

The second point is that in the development of such a digital economy, the blockchain has found its own main battlefield.

Before I say this point, I want to say what is a blockchain? We talked about blockchain from the perspective of six industries. We have different views from the most fashionable and top-level experts in information technology. When we talk about blockchain, we always emphasize blockchain technology. We believe that when the blockchain is attributed to the concept of technology, an industrial economy, we enter a trap and cannot find the essence of the blockchain.

What does it mean? If we apply the concept of technology, it is just a statement, it contains science and application scenarios, you can say so. Because people are used to the concept of technology, but unfortunately when people talk about blockchain technology, they return to industrial civilization and the concept of industrial economy. When they talk about technology innovation, they return to the linearity based on technology innovation. In thinking. So in this way, we can't find the essence of the blockchain.

We believe that blockchain is not only a technology-based innovation, but also a three-helix operation in the application scenario of science and technology, and a basic system operation . Only after understanding this point can we understand the development of the blockchain until now. What do you think are the landmark and influential events that have caused the blockchain? Bitcoin, what else? That's the Libra coin announced by Facebook. Can you still find a third such influential event? No. What do you mean? Because of Bitcoin, Libra does not do anything on Facebook. It only announces an application scenario of 2.3 billion people on the social network, telling you that you want to engage in blockchain. If you engage in Libra, it will shock the world, explain a problem, and explain that the original blockchain What is pure technology, not even a single technology.

First of all, what is your application scenario? I can't find an application scenario and I can't talk about a blockchain. At best, it is just an information technology application. Therefore, the design of application scenarios, the selection of related technology groups, and the related science, cryptography, cooperative game theory, and consensus foundation form a whole set of operations. This is the blockchain.

Therefore, we consider the blockchain to be a triple helix operation. It will replace a single technology in a sharing economy system. It is also an operating model. Grasping the nature of the blockchain can explain why the few clear scenarios just mentioned have such a significant impact.

We believe that the practical application of blockchain in the future has two battlefields in the direction of industrial application.

One battlefield everyone is familiar with is digital currency . In fact, digital currency is not a monster. Digital currency just proves that in the process of digital economy development, after the information Internet becomes the value Internet, digital finance needs to be promoted in the digital economy. Transaction is needed. In the future civilization, transaction is the first to promote production. Therefore, digital currency must be an unstoppable development battlefield of "blockchain +".

The sixth industry is another main battlefield of blockchain development , that is, the shared system is the main battlefield of blockchain development. This one is related to the nature of the blockchain. When the blockchain is developing this main battlefield, there is currently a way to refer to Ethereum, first design the bottom platform framework of the blockchain, and then store smart contracts in it, which is actually a bunch of data sets in technology. The contract is stored as data in this bottom frame. In this way, the smart contract can be fully applied to your shared system in the bottom frame of the blockchain. What is the relationship between this shared system and the smart contract of the blockchain? This is to say that the smart contract should be understood using the sixth industry theory rather than the third industry theory. What do you mean? Smart contracts are important not only for P2P technology, but also for hashing and other technologies. First of all, they are the civilization foundation of consensus. If there is no consensus civilization foundation, there is no way to talk about blockchain as such a smart contract foundation.

In the component part of the blockchain, it is necessary to make full use of the human fifth industry, form a certain ecology with spiritual needs and consensus civilization, and form a certain blockchain business operation and social governance foundation. If no such foundation is found, such a blockchain is a false proposition.

Under such a framework, the main battlefield of the blockchain is in the sixth industry, with the full development of the digitalization of the fourth industry, the full application of artificial intelligence, the consensus foundation of the fifth industry, and the foundation of spiritual civilization sharing. At this time, doing the sixth industry, finding a sharing system, this system needs to use the blockchain to achieve it microscopically. This is the sixth industry.

In the operation of the sixth industry, the boundaries of enterprises have been broken. Microeconomics no longer borders enterprises and no longer delimits itself with the government. It is based on a self-organized corporate alliance, which is no longer a government-type alliance or a quasi-governmental alliance. It is a consensus-based alliance under the condition of blockchain.

Such an operating boundary will be the main battlefield for the development of blockchain. Therefore, it is said that blockchain is an important micro-business model of the digital economy and an important macro-social governance model. A model of the development of Meso's social organization is ubiquitous. Of course, after the development of the digital economy, the blockchain may form related parameters in the future and other triple helixes will continue to emerge, but there is no doubt that the blockchain is the first to mature and can be a model of commercial operation.

Returning to our previous proposition, the emergence of the digital economy is the decline of human industrial civilization, and the sharing civilization brought about by the digital economy of the Internet will be born. In such a historical and civilized communication, whether the digital economy can develop and whether the blockchain can become the leader will be a key event that affects the development process of an enterprise, a region, and a country.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!