Editor-in-Chief | Hangzhou Block Chain Week, a feast of mobility

Eighty hours after the end of the Hangzhou blockchain week, Hemingway’s words in the "Farming Feast" came out of my mind at least three times:

If you are lucky enough to live in Paris when you were young, then you will be with you wherever you go, because Paris is a flowing feast.

The reason why I thought of this sentence, I want to refer to Paris as Hangzhou, in my heart, the week before 86 hours is a flowing feast . That week, Hangzhou was the world center of the blockchain. The gathering of information, the surge of people, and the confrontation of ideas, in the context of the blockchain, the beauty of the West Lake and the height of the Eiffel Tower complement each other.

In those days, more than 2,000 blockchains gathered in Hangzhou Huanglong Hotel, of which 54.05% were cryptocurrency investors and 56.76% were blockchain entrepreneurs. The size and quality of the participants were rare in China. They are diligent and diligent, day and night, from technology to commerce, with clear traces here. A user commented that:

• More rigorous than KYC: The Financial Action Task Force on Anti-Money Laundering will finalize new international standards for regulatory encryption companies next month.
• Talking about PoS, how can you not understand Nothing At Stake?
• The central document mentions the use of blockchains to solve food safety. Who else is in addition to BAJ?

This Hangzhou blockchain week is a Chinese version of the consensus conference.

As a sponsoring organization, I said deep inside that we have no intention of making any comparisons. We only want to bring together the world's understanding of the blockchain in a correct and friendly way, and let the blockchain culture become a force to promote the transformation of old and new kinetic energy . Even as the industrial revolution, the white smoke seen from the steam engine. The signal is there, the faith is there; the faith is, we deserve to have the ambition of that moment.

Participant survey data (May 19)

Telling the truth, blockchain entrepreneurship is difficult. When Babel CEO Wang Lei saw the words "entrepreneurship" and "wound" in the opening video, he was moved to tears. I know that this is by no means an esoteric, but a spurt of true feelings.

The blockchain "she" is small . The wind started at the end of Qingping and ended between giants. A page of A4 paper from the regulator or a regulatory movement in a corner of the world can make the market fluctuate and fall for a year or two. She is also small, adding up the total market value of global cryptocurrencies to roughly equal to half the market value of Alibaba.

However, "she" is also very big . She is a breakthrough point for the generation after the 90s to burn youth and realize self-worth. She has let the technical geeks rush to the ground, let the academic circles get together, let BAT spend a lot of gold, let Entrepreneurs who are sensitive to the future are eager for it.

In the blockchain week, we are very happy to see that the past genre dispute is no longer the focus, and the exploration of the business model is more worthy of respect . If people's enthusiasm for the blockchain in the past once made this young industry unbearable, then nowadays rationality and calmness are the correct postures for the future.

Hemingway, the minimalist master, said to the "spring": Spring always comes, but what is shocking is that it is almost impossible to come. As the president and host of the Hangzhou Blockchain Week, I came into the essential thinking from the stage:

Spring in the development of blockchain, is it coming? What have we contributed to the arrival of the blockchain development spring? From this 2,000-person gathering, what did we find, what changed, and what left?

Take one for the nine. The following seven points are my observations.

The picture shows Tang Xia Ling (edited by Babbitt)

First, let the supervised rope become a whip

The rope can be tied or spurred.

The high level of regulatory ropes will trigger the sensitive nerves of the market at any time. But the birth of all new things is the beginning of chaos, and the development of the market is often faster than the pace of supervision . Many innovations also originated from the destruction and subversion of the existing backward rules. The blockchain was once regarded as a kind of “subversion and revolution”. The regulators and blockchain practitioners are more cats and mice, and they are afraid of each other. And dodge.

However, in this summit, the extreme "subversive theory" and the blockchain "revolutionary theory" rarely appeared. The opposition between supervision and the market almost disappeared. Instead, it was embraced and welcomed, rational and orderly. Blockchain innovators are providing advice to regulators in a constructive manner.

The good news is that regulators have already learned a lot about technology and industry . They have cooperated with companies such as BAT to collect data using big data and blockchain technologies, and hope to make some breakthroughs in various fields.

But there are also regrets, because the regulatory scale has not been clarified, we still have not persuaded the core regulator to express their views . Perhaps the practical experience of Hong Kong's regulatory sandbox can provide some reference for the future. In the era of digitalization, the accumulation of sand into towers, the migration of ocean currents, and the development of the industry require policy wings rather than suspiciousness. We are very happy to see that the rope of supervision is turning into a whip, whipping a slow cow, and smoking fast.

Second, the big factory is in the layout, not the road is still tidal

The road to blockchain application, even if the big factory is crossing the river by feeling the stones. At this conference, traditional giants such as Huawei, Baidu, Tencent and Haier also expressed their opinions.

Although there are many ideas for the project, there are only a few that are finally presented. It is inevitable that “trial and error” and “elimination” will occur. Because once the business problem is involved, the blockchain model is incomplete. This is also a question that everyone generally reflects on this forum.

Different from previous years, many people at this summit this year are talking about "misunderstandings", including technical misunderstandings, misunderstandings of scenarios, and misunderstandings. As Fan Zhongbin of Weizhong Bank said:

"This is a good phenomenon. When you start to reflect, it is a more pragmatic and stable sign."

But I think that the biggest challenge of BAT layout blockchain may come from thinking mode. The centralized business model they have formed for a long time has led to the centralization of thinking. How to jump into a pattern and initiate more equal synergy is the bottom-level challenge. After all, not everyone, every organization, has the courage and wisdom to break it down.

Third, the combination of industry and education, when the enabling business occurs

The first speaker of the conference was an internationally renowned cryptographer who came to Xuejia, who told me:

"In the world of the Internet, it is the theory that promotes the development of practice . It takes at least three years for a research result to go from research to practical application. In the blockchain world, it is practice-driven research , and theoretical research lags behind practical application for 18 months."

The blockchain combines cryptography, economics, big data, artificial intelligence, the Internet of Things, and even sociology, and few people can understand it. But the collision of mutual thinking patterns is the best embodiment of the beauty of cross-border.

Professor Liu Xiaolei of Peking University Guanghua School of Management, the first sentence of the speech is:

“ Digitalization will affect all industries, the only difference is time and speed . By 2018, the digital economy has already accounted for 34.8% of China’s GDP, and we are embarking on a data dividend from the demographic dividend. During this transition period, data has become important. Production materials."

In this context, data will become a big business, but the resulting data security and privacy protection has become a topic of high concern.

In this feast of mobility, academic teachers have provided us with macro data, standing on a higher economic and industrial cycle to help us understand the cyclicality and limitations of blockchain development; industry people help We go deep into various industries to seek the transformation and integration of specific business scenarios.

The combination of macro and micro is the basic attitude that should be seen in one thing. This is also the economic foundation for the commercialization of technology.

Fourth, look at the application of landing: more flowers, business model needs to be explored

The positioning of Hangzhou Blockchain Week is “ embrace the commercial era, empowering the real economy ”, who is weak and PoW and PoS, who has a future in the public chain and the alliance chain, and the debate of similar genres has become a yellow flower, vertical industry application. And the exploration of business models, just as the spring sun, slowly began.

The world's first e-wallet cross-border remittance service based on blockchain has been operating normally. An international remittance takes only 3 seconds. The country's largest volunteer service platform has also accessed blockchain technology, using block-based blocks. The chain technology can not be falsified and traceable, and solves the problem of fair and transparent information on volunteer service. In the field of copyright deposit, original articles have also been put on the chain. Even if a long-term international negotiation occurs, once there is infringement or cool-up behavior, it will automatically Perform the claims process.

Fairness is in the heart and in the chain. This is the change of humanity in the application of blockchain. There is nothing more inciting humanity and more commercial value.

There are still many such application scenarios , and senior practitioners in the fields of medical, financial, traceability, and public welfare have come to share the exploration and practice.

However, due to the large-scale killer application in the blockchain, the majority of C-end users have not yet realized the convenience brought by the blockchain technology to life. In addition to providing technical output, the blockchain field has not yet matured. Business model.

How to use technology to change lives, how to productize products, commercialize products , and let technology and business fly together is also a common problem that needs to be solved in this stage of industry development.

5. Talking about investment and financing: In the feast, money is the most intelligent species.

Money is one of the most sensitive things. There are two reasons for people entering the blockchain industry: one is idealism and the other is wealth. The former has a geek spirit, and hopes to use technology to change the world. The latter is a realistic need to measure the value of output with quantifiable numbers.

Blockchain is an industry that is close to money . Just like the Internet and mobile Internet era more than a decade ago, Facebook or Alibaba, the myth of wealth constantly impacts our nerves.

In the discussion of the topic of blockchain project financing, some early projects hope to get more money to enter the market for marketing, but there are also sharp observers who always remind users not to be cut.

Observing the investment mentality, the frenzy of 2017 and 2018 has changed to the current stability and rationality, which is the result of market education and the inevitable path of the industry development stage. Hydrostatic water can give birth to signs of deep flow and also demonstrates the energy of reason.

However, the blood of wealth will not cool for too long. Since last year, big capital and large resources have entered the market. They are carrying deep capital and large-scale industrial resources, and they are also looking forward to making a fortune in this field. The mainstream trend is that the underlying technology platform is more popular, and it is more marketable for large-scale commercial use .

However, the blockchain project still has not reached a relatively consensus valuation model. The realization of large capital and large resources is still groping. Otherwise, the existing stock resources are just dazzling. But with a little common sense we can believe:

Money is the most intelligent species. After the market's resource allocation, money will eventually flow into the place where money can be used to make money. Capital and resources will also gather in value.

Six, in the distributed world, you and I are super nodes

In addition to the above hardcore views, communities and individuals are also contributing their wisdom .

For example: security and privacy protection are like a pair of twin brothers, always in love. The cousin of Slow Mist Technology came up and said that I am a hacker (but I am a good person). Privacy is not used for protection, but for control. In the digital world, you and I will be transparent individuals, nowhere to be seen.

The wisdom of the community is also coming. The coin is clearly pointed out by the creation of the world: the attributes of the blockchain are not only finance but also the community . For the first time, the concept of “coin east” was officially proposed. Referring to the meaning of shareholders, the currency east represents the identity of the token holder. Where does the token value of the blockchain come from? Consensus from the community.

And users, the need for knowledge and social needs, need to be met. The final user feedback survey shows that 83.78% of users are the most rewarded, while another 10.81% want to strengthen their social attributes and generate more links with people who are good.

Participant survey data (May 19)

At the same time, we also know that when accepting so many praises and praises, there are also many places to be improved: for example, our market demand is seriously insufficient, and the first day is full, so that the venue can only be temporarily opened; For example, we place too much emphasis on the high ground of thought and neglect the guarantee of basic material energy, which leads to poor eating and participation experience for some users; for example, the interactive social content of our conference is not rich enough…

Thank you for your praise and criticism. These opinions, like the staged development characteristics of the industry, will be optimized and improved in the next practice.

Seven, as long as you leave, you will arrive

After the end of the Hangzhou blockchain week, I went to the door of Hangzhou Huanglong Hotel. On the roadside of Shuguang Road, looking up at a mountain peak, it is called the North Peak. It seems that it is also shaking hands and saying goodbye to the person dragging the luggage. They went to the high-speed rail station, went to the airport, and went to the speed and height. There was only one purpose, and they should go back to where they should go. They may also be thinking about what they should be.

During this feast, the pot of red lobster has a delicious taste. More than 200 years ago, when the species arrived in North America with the first batch of European settlers, the number of lobsters flooded, and they regarded these dense “things” as “protein foods for the poor”. No one loves to eat, and no one is waiting to see.

However, she is as strong as her, with the development of the historical wheel, with irreversible trend, sweeping people's taste buds and becoming a good food for a better life.

This is the era, this is the future. Full of uncertainty, full of imagination, full of hope, accompanied by embarrassment, temptation, expectation and possibility. May you and me, as the founder of Babbitt, said: All actors who act as thoughts, not thinkers of ideas, practice the possibility of being in the field of blockchain.

As long as you leave, you will arrive . Bless you and me, you can reach a better self.

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