Experts say that the blockchain is in the 2.0 phase of four aspects to empower the manufacturing industry

Source: Securities Daily

Reporter: Du Yumeng

Since October 24, the high-level executives clearly stated that “the blockchain should be used as an important breakthrough in independent innovation of core technologies, and the development of blockchain technology and industrial innovation should be accelerated.” It also focuses on how the blockchain can empower the real economy and service manufacturing.

"In simple terms, blockchain technology will change production relations and productivity." Zheng Lei, chief economist of Baoxin Finance, said in an interview with the Securities Daily reporter that the principle of blockchain technology solves the problem of trust and consensus, making Economic activities can be carried out smoothly between unfamiliar nodes on the blockchain, thus reducing credit and transaction costs and helping to increase production efficiency and productivity. At present, the blockchain is in the 2.0 stage, and a large number of applications have appeared in the financial industry. In this context, the high-level "pointing" blockchain is mainly to further promote the application of blockchain in the real economy, especially in the field of manufacturing.

Yu Rui, chief researcher of Chain Tower Think Tank, said in an interview with the "Securities Daily" reporter that the first way to change the economic operation of the blockchain is to confirm and transfer the virtual assets; second, the privacy of the alliance's data on each node Protection established trust that could not be established, and thus reached cooperation that could not be reached.

So, how does blockchain create trust? The answer given by the industry is that its distributed and immutable nature guarantees the "honesty" and "transparency" of the blockchain, which is the foundation on which the blockchain can create trust.

Shen Jianguang, vice president of Jingdong Group and chief economist of Jingdong Digital Technology, said in an interview with "Securities Daily" that in general, the development of blockchain has focused on digital currencies from the early days, and now pays more attention to the completeness of technology. And its application in many industries and fields such as digital bills and product traceability. Therefore, from the perspective of the development prospects and future trends of the blockchain, the development of the blockchain technology is expected to make a new batch of entrepreneurial enterprises emerge as the times require, and promote the independent innovation and industrial application of the technology, especially in the current manufacturing industry is moving towards intelligence. In the process of specialization and efficiency upgrade, the application space of blockchain will be further enlarged.

Shen Jianguang further pointed out that the four major applications of blockchain in the manufacturing industry are: connecting distributed manufacturing resources, enabling asset lifecycle management, ensuring end-to-end additive manufacturing (AM) processes, and increasing visibility of the supply chain. . For example, traceability of product manufacturing, combined with blockchain technology, producers can pass the raw material supplier of each product, the entire processing process flow, quality information, processing equipment number and other information through the blockchain, the entire supply Each unit on the chain can understand the actual operating status of each branch factory. However, it should be noted that the application of blockchain in the manufacturing industry is not a one-man show. It also involves data analysis and capture of equipment production data and processing parameters. It also requires the comprehensive use of big data, cloud computing, and Technologies such as the Internet of Things. This also reflects a characteristic of blockchain applications, that is, the integration and use with other digital technologies will be the mega trend and the general direction.

It is worth noting that, as a digital technology, although the blockchain has been applied to a certain extent in the financial field, from a long-term perspective, the challenges of its further radiation in the fields of the Internet of Things and intelligent manufacturing still exist.

According to Zheng Lei, such challenges mainly come from both technical and commercial applications. Specifically, the technology needs to be further iteratively upgraded, especially in the public chain. Some of the underlying technologies used in encrypted digital currencies cannot be used in high-frequency transaction scenarios, and there is still room for improvement in terms of storage and retrieval. In terms of applications, the boundaries of decentralization and the use of digital coins need to be further clarified.

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