Economic Daily: Blockchain, down-to-earth to a bright future

Economic Daily · China Economic Net reporter Wang Yichen

Source: Economic Daily

Xu Junzuo (Xinhua News Agency)

At present, the blockchain's concern is hot, but the development of the blockchain industry needs to calm down and conduct technical exploration to achieve blockchain technology and industrial innovation. How to measure the value of the blockchain, the most important thing is to measure whether it can solve the real problem, especially to solve the core "pain point" of each industry –

Thunderstorms have risen 170%, over 100 stocks have collectively increased daily limit, friends circle has been screened by relevant information on blockchain, and investment classes on blockchain have sprung up… When it comes to accelerating the development of blockchain technology and industrial innovation After the announcement, a “blockchain fever in the whole country” emerged overnight, a group of listed companies “emergency” on the chain, and even some elderly people who usually do not have much contact with the Internet began to inquire about the investment of blockchain among the young people around them. opportunity.

Experts suggest that as one of the important breakthroughs in China's core technology independent innovation, the blockchain carries the expectation that China will occupy the commanding heights of innovation in emerging fields. Therefore, in order to promote the healthy development of the industry, we must strengthen supervision, not be able to break away from the reality, not do a slam dunk, repeat construction, and solidly promote the "new future."

There are hidden concerns under the "carnival"

Under the blind blockchain "carnival", there are actually many risks hidden. "Some institutions will intentionally exaggerate the role of the blockchain for their own interests." Duan Jiang, chairman of the Academic Committee of the China Blockchain Research Center of Southwestern University of Finance and Economics, was deeply touched by this. He told the Economic Daily reporter that the main points of the blockchain circle For the currency circle and chain circle, the speculation of the currency circle in the past two years has been strictly controlled by the government. When the Central New Deal came out, more people in the currency circle were speculating. "They think, they can open their arms again."

As early as 2017, the digital currency represented by Bitcoin ushered in a soaring year, and the high of 20,000 US dollars also created a myth of wealth freedom. With the currency circle in full swing, on August 24, 2018, the relevant government departments issued a document: Some lawless elements used the banner of “financial innovation” and “blockchain” to issue so-called “virtual money” and “virtual assets”. Digital assets and other methods absorb funds and infringe on the legitimate rights and interests of the public. Such activities are the practice of speculating blockchain concepts for illegal fundraising, pyramid schemes, and fraud.

The "big fire" of the blockchain is inseparable from the blockchain's promotion from the media. Some self-medias write articles for virtual currency or blockchain projects, enhance project valuation, attract investors to participate, and then project parties, exchanges, and media to participate in the division of “cut amaranth”.

However, blindly speculating various air coins in the name of blockchain may bring greater harm. "If excessive speculation causes large economic losses or other hazards, once the government releases control measures again, this will have a negative impact on the development of the entire industry." Duan Jiang suggested.

In contrast, companies that are steadily advancing the development and application of blockchains have different thinking. In the view of the eight-component founder and CEO Yan Anbang, in the early stage of any new technology promotion, more discussion and imagination are needed. With the advancement of technology and practical application, the food safety and anti-counterfeiting traceability related to finance, government affairs and people's livelihood will be The application will gradually change the perception of many people.

Blockchain is not a panacea

Under the current social situation of “blockchain fever in the whole country”, it is necessary to recognize that the blockchain has come in the future, but it must also remain rational. Blockchain is a new technology that has a huge impact on the economy and society, but it is not a "magic weapon" of omnipotence. It is undisputed that the blockchain is still in the early stage of development and needs further development and improvement in terms of technology, safety, standards and supervision.

“The blockchain can do things to improve efficiency, increase transparency, build trust, etc.. Businesses and things that are traditionally difficult to do are not done with blockchains, and applications must be combined with industry characteristics.” Xiao Huan, head of the blockchain research group, said.

"At this stage, the blockchain can do a good job of digitizing things." Duan Jiang said that there is still uncertainty about things that are not yet digital, such as product traceability. For example, he said that even if a bottle of liquor uses blockchain traceability technology, counterfeiters still have the means to replace the wine in the real bottle with fake wine.

In the view of Yan Anbang, the core problem of blockchain resolution is data validation. “The blockchain can identify who a data belongs to, and can guarantee the accuracy of the data, will not be illegally tampered with, and will not be illegally read or spread. Now there are countless terminals collecting personal data, only the data ownership is resolved. The problem can be better to play the value of the data."

In addition, the human society has entered the information civilization from industrial civilization, the social division of labor has been continuously refined, and the industrial form is very complicated. The blockchain needs to be integrated with other cutting-edge technological innovations to generate greater value.

It is worth noting that at the basic technology level, there are still many bottlenecks in the large-scale application of the blockchain. Duan Jiang said that the first is the trading speed bottleneck. For example, the Bitcoin system can only complete 7 transactions per second, and Ethereum is 35 transactions per second, which is far from meeting the needs of large-scale users. This is followed by large-scale data increments. The traditional database simply says that there are three operations of adding, deleting, and updating data, but the blockchain database can only increase the data, and the data will accumulate more.

For the problem of data redundancy, Yan Anbang also believes that data consistency cannot be blindly pursued, otherwise it will consume huge computing power and energy consumption. How to match the needs of the industry under the premise of reducing data redundancy and ensuring that it cannot be modified. It is fundamental.

Being down to earth is the right way

At present, the blockchain's concern is hot, but the development of the blockchain industry needs to calm down and conduct technical exploration in order to realize blockchain technology and industrial innovation development, and realize blockchain in the era of digital economy. The value of the company should occupy the commanding heights of the new era of Internet technology represented by the blockchain.

To promote the healthy and steady development of the blockchain, we must continue to crack down on speculation. Because the current blockchain application for ordinary people is scarce, many people simply equate the blockchain with virtual currency. Some illegal institutions use the name of “blockchain” to finance the speculation through the issuance of virtual currency. Illegal financial activities have seriously violated the security of the masses and disrupted the economic and financial order. On the basis of speculative behavior of illegal blockchains, government departments at all levels should continue to upgrade their supervisory measures on the basis of continued strict supervision, and increase their efforts to prevent the masses from being deceived and maintain a good industrial development environment.

"It is necessary for the government to screen the blockchain enterprises. Is it true that there is technology or the government? It is necessary to crack down on the scammers and encourage a group of high-quality enterprises to guide the healthy development of the industry." Duan Jiang said.

To promote the healthy and steady development of blockchain, it is necessary to guide the deep integration of blockchain technology and practical application scenarios. “As a cutting-edge technology, the blockchain can only show its intrinsic value when it is really in the industrial scene.” A person in charge of a blockchain group said that blockchain technology can be reduced when China is investing in new and old kinetic energy. Industrial costs, improve the synergy efficiency of the industrial chain, and build an industrial integrity environment. Achieving deep integration of blockchain + trade, medical care, education, food safety and other physical industries will greatly promote the upgrading of traditional industries, improve the efficiency of social operations, and improve the quality of public services.

“Because the blockchain itself is a new technology, or a new combination of old technologies, how to measure its value, the most important thing is to measure whether it can solve real problems, especially to solve the core of individual industries. Pain point. How to judge whether there is a solution to the 'pain point'? It is to see if there is any customer willing to pay for it." Yan Anbang said.

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