The World Blockchain Conference closed, we discovered these new phenomena

This is a blockchain industry event that coincides with the time.

On the occasion of the blockchain becoming an important breakthrough for China's core technology independent innovation , on November 8-9, 2019, the second World Blockchain Conference was held at the Wuzhen Internet International Convention and Exhibition Center. The theme of the conference was “Application Unbounded”. The three major Internet giants, the three major operator giants, the two major communications giants and the head enterprises in the blockchain field were all present.

Whether it is from the quality of the guests or the on-site effects, it is undoubtedly the most grand summit in the history of China's blockchain . This summit innovatively launched the "Babbit and Ta friends", the world's first blockchain inter-annual speech "Lingyue 2020", the first set of 4,000 flat pavilion area, the first time to the industry issued "2019 Wuzhen Blockchain Declaration. The total number of participants was more than 11,000, and there were more than 30 activities in the surrounding area. The total exposure of the article was 13.5 million, and the official live broadcast was 1.2 million .

In the two-day intensive agenda, more than 130 guests discussed the blockchain application, technology frontiers, industry trends and hot issues in 38 keynote speeches and 14 roundtable forums (topic link: https:// ).


Application landing: large factories do stocks, create enterprises to find incremental

A clearly perceptible trend in 2019 was the accelerated landing of blockchain technology.

In this trend, practitioners are divided into two groups . One group is an Internet company represented by Ant Financial, Tencent, Baidu, and Weizhong Bank. They are used to finding a landing scene in the existing physical industry and using blockchain technology to help the transformation and upgrading of the physical industry.

The electronic invoice has become the blockchain landing scene where Ant Financial and Tencent have chosen together. Li Jieli, senior director of ant Jinfu and head of the ant blockchain BaaS platform, told the audience at the summit that in order to save the patient's visit time and simplify the claims and reimbursement process, the ant blockchain landed in more than a dozen hospitals in Taizhou, Zhejiang. Blockchain electronic invoice. The average patient visit time was reduced from 170 minutes to 75 minutes. Insurance claims are reduced from half a month to a few minutes. Tencent has obtained the approval of the Shenzhen Municipal Taxation Bureau and implemented blockchain electronic invoices in Shenzhen, which greatly reduced the time and labor costs of enterprises and made financial management more convenient. At present, Taizhou's blockchain electronic invoices have already been issued 14 million copies. According to Cai Weige, general manager of the blockchain business of Tencent, Shenzhen's blockchain invoices have also exceeded 10 million.

Picture 1

The other group is blockchain technology startups/projects, which are better at the underlying technology but have weaker industry resources. In the landing scene, try to avoid the direct competition with the Internet giant, to enter the lower threshold game and the Internet company has not been involved in the DeFi and other scenes cut into.

The reason for choosing the game cut-in, DappReview founder Niu Fengxuan explained in the roundtable forum of the summit "blockchain + game: virtual game and real economy": the game is a pan-entertainment type product, and the user migration cost is low. It's easier to accept and use, so the game may be one of the first areas of the blockchain landing application . As a startup dedicated to discovering interesting blockchain applications and helping large-scale applications of blockchains, DAppReview has now included more than 3,500 applications in 10 blockchains.

As for DeFi (decentralized finance), it is a non-accessible financial agreement for decentralized custody, which is a new format different from the traditional financial model. At the "2019 Ethereum Technology and Applications Conference" held in June this year, Taifang founder Vitalik Buterin accepted the interview with Babbitt and praised DeFi as a huge application in the blockchain industry . In the eyes of He Bin, the founder of imToken, DeFi is the expression of good intentions of human beings. DeFi uses the blockchain to allow people to participate in a zero threshold without an international border, no identity difference, or no amount difference. Financial markets, enjoy financial services.

WeChat screenshot _20191112200131

Since the introduction of the word DeFi in August 2018, DeFi's locked assets have quickly approached $650 million from the then $150 million, with a monthly compound growth rate of more than 10% . On the DeFi track, a number of subdivisions such as payment, stable currency, DEX (decentralized trading platform), derivatives, etc. were formed, and star projects such as Lightning Network, MakerDAO, Uniswap, and Dharma emerged.

Exploring the cutting edge of technology: the world is so new, everything is not yet named

1. Privacy calculation

"Hello everyone, thank you Babbitt, I am standing on the stage of Wuzhen for the second time."

This is the second time that Sun Lilin has participated in the World Blockchain Conference. There are still many “returning customers” like him. For example, Zhang Yifeng, Dean of the China Banknote Block Chain Research Institute, Bai Shuo, former chief engineer of the Shanghai Stock Exchange, and founder of the Dreamcatcher Fund Bo, the chairman of the Zhongguancun Blockchain Industry Alliance, Yuan Dao, etc.

Sun Lilin's sharing theme is related to privacy computing. He believes that privacy computing and blockchain are essentially a public infrastructure. Today's Internet companies monopolize everything, monopolize our accounts, our personal information, our trading behavior, and our trading results. This is a problem. In a network of good digital ages, data itself cannot be disclosed, and privacy calculations can ensure that all data parties do not know "whole" in "partial", and "part" in "whole".

2. Zero knowledge proof

Zero-knowledge proof This good feature can be used as a privacy protection because it can be used to do something or know something, without revealing any other information. It has always been favored by technology enthusiasts. Not long ago, Eitafang founder Vitalik mentioned in an interview that in order to make the Ethereum 3.0 phase agreement more secure, efforts are being made to achieve zero-knowledge proof. At the summit, Findora CTO Ben Fisch also shared the idea of ​​zero-knowledge proof to protect privacy. Compared to the zero-knowledge proof schemes such as SNARKs, STARKs, Groth16, and Bulletproofs, the Supersonic version used by Findora is very small in size, fast in verification, and does not require trusted settings, making it suitable for privacy transactions of various complexity.

Picture 2

"Everyone is saying zero knowledge, you ask what the amount of data is, how the performance is, no one is willing to answer."

Wu Yiqun, the chief architect of the big data of the former Alibaba security department, poured a cold water on the zero-knowledge proof. This is because using zero knowledge to prove that the protection transaction is not seen by others will result in a greatly reduced computing speed and a large increase in transaction data storage. Will bring high network concurrency. Therefore, zero-knowledge proof is a difficult hard bone. The practitioners who study in their own research often need to learn and cooperate extensively with the academic community. For example, China Ping An's account chain has sought the support of Shanghai Jiaotong University to teach Professor Jia, PlatON and Wuhan University have established joint experiments, and Zhibang Network hired Professor Hu Honggang of the University of Science and Technology to serve as a long-term cryptography consultant.

3. Smart contract

Blockchain can go today, we want to thank smart contracts.

Tony Tao, the founder of X-Order, commented on the importance of smart contracts when he gave a keynote speech at the World Blockchain Conference. He said: "Ethernet's complete smart contract with Turing is directly "blockchain" "The attributes are extracted from Bitcoin. As a result, not only does the encrypted digital currency community use Ethereum to realize the infinite possibilities of blockchains, but more importantly, everyone finds that the cost and threshold of research and utilization of blockchains are suddenly Lower. Financial institutions, research institutions and even governments have begun to join the blockchain research and pilot teams."

However, the limitation of smart contracts is that they can only trigger on the data on the chain and cannot be connected to the data under the chain. Chainlink's solution is to introduce the oracle (Oracle), which is responsible for unique tasks during the run, adding data provisioning, data requests, and critical calculations in a very secure situation. As a result, smart contracts can evolve from a transfer pass to a fully integrated smart contract phase that transfers all other Dapps.

4. Cross-chain technology

Without cross-chain technology, various types of blockchain platforms will be isolated islands at this stage, so many project parties are studying cross-chain.

In the "Keep MOVing" special event, the original chain CEO introduced the Bytom MOV, which is the next-generation de-centered cross-chain Layer 2 value exchange protocol based on the Bystack main sidechain architecture. (Magnet), de-centered cross-chain gateway (OFMF) and Layer 2 high-speed side chain (Vapor) three core modules. On the occasion of the blockchain becoming the frontier of the global game, MOV may be the vanguard of the domestic public chain to gain a dominant position in international competition.

Picture 3

NEO is also researching cross-chains. NEO founder Da Hongfei mentioned in the keynote speech "Decoding the Future – Next Generation Internet" that it is different from Cosmos and Polkadot in cross-chain agreements that focus on asset exchange, NEO's cross The chain technology solution not only does the transfer of cross-chain assets, but also the consistency of cross-chain transactions. The so-called cross-chain transaction consistency means that there is one thing in two separate databases or two separate books and two blockchains, requiring that these two things be successful at the same time or at the same time. failure. With such an operation, it is possible to piece together the same building blocks and build a complete next-generation Internet application.

In promoting cross-chain landing, many teams believe that DeFi is a breakthrough in cross-chain. In the round table forum of "The budding and rise of Web3.0", IRISnet and the original chain are doing related explorations. The former recently opened the IRIS Hub support for DeFi application development, and the latter's latest MOV is also fully promoted. Cross-chain DeFi landing.

The ideal is beautiful, but it still faces the problem. Wu Gang, the founder of the coin letter, said that everyone talked about a very beautiful state, a beautiful story, but we did not expect that there are still many problems that have not been resolved. For example, cross-chain first needs to solve security. For many cross-chain implementations, the private key must be online in real time; after the past, it is a hot library with security issues.

5. Distributed digital identity

Distributed digital identities are not discussed at this summit, but the importance cannot be ignored.

"Today's blockchain, in fact, has not yet formed a large-scale application, and has not seen the killer application. There are many reasons for this. I think one of the most important reasons is that the public infrastructure for digital identity has not yet been established. ,"

Zhang Yifeng, dean of the China Banknote Blockchain Research Institute, participated in the World Blockchain Conference for the second time. The keynote speeches of the two conferences were all around distributed digital identity (DID). The view has not changed: distributed digital identity is the driving block. An important infrastructure for the wider application of the chain.

It is not difficult to understand that in the era of mobile Internet, WeChat and Alipay have become the actual entry point for Chinese people to access the digital world. Then in the new world of blockchain construction and evolution, distributed digital identity will certainly be an entry, an entrance that will no longer be monopolized by a certain enterprise or institution.

6. 5G

2019 is the first year of 5G commercial use, 5G will hit the blockchain, what kind of spark will it shine?

At the summit, "deciphering the 5G+ blockchain, for the sake of fashion, is it practical?" At the roundtable forum, we gathered together China Mobile, China Unicom and China Telecom for the first time to talk about 5G.

Why should telecom operators study 5G? Guo Manxue of China Mobile gives the explanation that the goals of 5G and blockchain are all models that change the social digital ecology. The purpose of the research blockchain is to provide a basic information service platform for society and to provide new capabilities for ecological cooperation. Zhao Jun of China Telecom believes that through its own network resources and terminal advantages, combined with blockchain technology, operators can upgrade from sinking pipeline providers to users' value traffic portals.

Picture 4

In exploring the integration of 5G and blockchain technology , Zheng Jinrong, director of blockchain product planning at Zhongxing District, said that there are currently two main directions: First, the use of blockchain technology to promote and promote the construction of 5G network infrastructure. Second, 5G will bring a lot of new application scenarios. The blockchain's non-tamperable, traceable and smart contract technologies will accelerate the implementation of these new 5G industry application scenarios. Not long ago, ZTE and China Unicom jointly released the White Paper on the Development and Application of 5G+ Blockchain Convergence.

In addition, Zhang Xiaojun, the person in charge of Huawei's blockchain, reminded that because 5G has high mobility, high bandwidth, and low latency, it is difficult to implement on the cloud side. Therefore, it is recommended to put it on the edge side. In this case, the blockchain node increases. There will be a large number of interworking requirements between nodes. Since the edge side can completely replace the current 5G transmission, this may be a better solution.

Of course, the Yuandao, which has always been thinking ahead, directly put forward the concept of “5G* blockchain”. The 5G here is not the 5G that the equipment manufacturer is deploying the trial network. It is a blockchain thinking and a blockchain technology. Deconstructed, reconstructed 5G new species. The chain network based on “5G* blockchain” will be the first in the world to propose a new network information space framework with blockchain as the underlying protocol, encouraging users to participate in network relay nodes, accounting consensus nodes, and edge computing joint construction and sharing. Promote a new generation of Internet platform economy based on point-to-point value exchange.


AI complements the blockchain.

Zhang Xiaojun said that the blockchain guarantees the authenticity of the AI ​​analysis. At the same time, if there is a corresponding data problem in the AI ​​analysis, the data can be traced through the blockchain. Zhang Xiaojun believes that from the perspective of the blockchain + AI future development rhythm, the two are inseparable. Huawei also hopes to do this work.

Xiao Wei, head of Baidu Blockchain Lab, also said that Baidu has also done a lot of landing scenarios with Baidu's traffic and the advantages of AI, Internet of Things and big data. If there is no AI, no cloud computing, no Internet of Things, these scenes are definitely not doing well. Therefore, the comprehensive landing of the blockchain must be accompanied by the landing of AI, Internet of Things, and edge computing. Which company can integrate these technologies into Dacheng, in order to have an advantage in the entire blockchain landing. According to Xiao Wei, Baidu will soon release a heavyweight product, so that the blockchain is no longer a technology, but an infrastructure such as hydropower, and everyone can use blockchains like electricity.

In addition, the guests also discussed topics such as blockchain security, Web3.0, and distributed storage.

Industry trends: the tides are wide and the wind is hanging

Trend 1: The policy spring is blowing, the blockchain spring is coming.

"Qing Ben Jia, who is a thief."

This is the previous view of the blockchain under the stigma of blockchain.

At the round table forum of "Ling listening to the scene: Dafengkou, the great era, the new opportunities for the development of blockchains", Meng Yan, the vice president of the Digital Assets Research Institute, mentioned that he was quite upset by his classmates during his National Day holiday. Not flat.

On the evening of October 25th, with the 18th collective study of the Political Bureau of the CPC Central Committee, after the news that the top leaders of the country gave instructions on the blockchain, everyone was boiling because the blockchain was stigmatized. The hat can finally be removed.

This move is significant, Meng Yan said:

“Once this hat is removed, more and more people will come to study, research, analyze, think, understand, and participate. In this process, various aggregated transformations are unpredictable now.”

Of course, practitioners must correctly understand the spirit of the meeting and cannot go away.

Trend 2: Compliance, Innovation, and Landing.

This is the judgment of Jia Jianzhi and Chairman Kong Jianping on the future blockchain industry. He changed the wording of “digital supervision” from “regulatory” to “research”. The NDRC deleted the digital currency mining that included the original plan in the “elimination category” as an example, indicating that the blockchain has become an irresistible historical trend. Xu Kun, chief strategy officer of OKex, also revealed that OKEx will continue to adhere to compliance management and take the initiative to adapt to global regulation, putting compliance and risk control first.

Trend 3: Distributed Business.

Fan Ruibin, head of Weizhong Bank Blockchain, mentioned in his speech on "The Road to Blockchain Practice for Distributed Business" that the change of human commercial civilization is changing from centralized to distributed, and blockchain is the support. An important infrastructure for distributed commerce. If Fan Ruibin is on behalf of the alliance chain camp, will the public chain camp think so? We found that in the "Keep MOVing" special event than the original chain, we also hold the same view than the original chain CEO. On the same day, Bytom MOV was released than the original chain. This is the next-generation de-centered cross-chain Layer 2 value exchange protocol. In the vision of Langyu, MOV is the first self-sufficient distributed blockchain business ecosystem.

Trend 4: The public chain cuts into the alliance chain, and the alliance chain is open.

The policy of October 25 is the feng shui of industry development. Prior to this, the alliance chain has been the battlefield of the Internet giant, and it is difficult for startups to get in.

The demand different from the public chain is driven by the original, the demand of the alliance chain is external, and there has not been a good commercial closed loop. SNZ founder Shi Haihua said in the roundtable discussion of "Where is the smartest capital flow, 2020 investment trend discussion", they made the alliance chain product three years ago, but they could not sell it. After the policy came out, the team that originally made the public chain began to focus on the direction of the alliance chain and put it on the practical application. This transformation has already taken place, such as the introduction of ByStack to the original chain, providing solutions for governments and businesses.

Picture 5

The alliance chain has begun to become more open, and the ant blockchain has been at the forefront in advancing the blockchain. However, Li Jieli believes that the current alliance chain is basically an enterprise-level service, which has the problems of high cost, few participating enterprises, and high user threshold. In order to expand the application scope of the alliance chain, the ant blockchain announced at the summit that the open alliance chain online beta will allow small and medium-sized enterprises and individual developers to join the open P&G blockchain at a lower cost and lower threshold. Service Network.

In order to explore more valuable scenarios, has developed a unified blockchain architecture that is compatible with public-chain scenarios and enterprise-oriented scenarios, and the code is open source. At this point, in addition to the ant blockchain, Baidu and's blockchain underlying platforms have been open sourced.

Hot topic: Blockchain war has started

Libra and DC/EP are undoubtedly the hottest topics in this summit.

In the round-table dialogue between "Ling listening to the scene, opportunities and challenges: Libra and the central bank's digital currency", the guests were stunned and spontaneously heard applause from time to time. Later, Cai Kailong, who participated in the roundtable discussion, used the words "to fight" to describe the popularity at the time.

The dispute occurred after Babbitt editor Tang Xiuling threw out the question “Why is Libra so difficult to produce? It is at the most dangerous moment?” Cai Kailong believes that because Facebook is a well-known central organization, this is a negative impact on Libra. If you switch to a company that is not too famous, you may be able to push it faster.

This argument came out, coupled with the host's "hurricane ignition ", immediately detonated a dial that was still very harmonious into a gunpowder-style debate .

Bai Shuo took the lead in joining the battle, and he thinks this view is paradox. Without the participation of such a large organization, it would not have Libra.

Meng Yan has figured out that there are currently 1,600 institutions lined up to join Libra, so don't worry about Libra's prospects.

Hu Jie, a professor at Shanghai Jiaotong University of Shanghai Jiaotong University, believes that the tax issue is the most critical. As long as the government's most concerned tax issues are resolved, whether Libra is decentralized, who is leading, etc., these issues are not important.

Wu Xiao, the founder of the pure white matrix, thinks it is a problem of “cutting the cake.” Young people who want to go to the top will definitely encounter great resistance.

When discussing the topic “Does China need to launch the Chinese version of Libra?”, the guest’s views once again disagreed, and Cai Kailong once again played the role of “choosing things”.

When the previous guest's wording carefully discussed whether China would use Libra to launch the Chinese version of Cibra, Cai Kailong directly denied it: absolutely impossible. The reason is that no central bank in any country can give up the currency.

Immediately, Hu Jie responded that there are precedents for the country to give up the right to issue currency. For example, many countries in the euro zone have outsourced the money dealers more than 20 years ago. Meng Yan added that Cibra was not issued by China, but was issued by China under the leadership of the “Belt and Road”.

The original 40-minute guest discussion time was extended to nearly one hour. When the guests walked off the stage, they were immediately surrounded by the audience of the circled powder and asked for contact information.

Picture 6

In other venues, Libra is also an inevitable topic.

In the keynote speech, Kong Jianping believes that Libar brings a currency war, which can bloodstain the sovereign currency of any country with unstable currency.

Meng Yan believes that Libra is a strategic weapon and a strategic offensive weapon for the new digital economy to challenge the old digital economy.

In the face of Libra's strong attack, Bai Shuo believes that one of the efforts against Libra is the legal digital currency.

The central bank’s digital currency is already coming out.

Wuzhen Blockchain Declaration: Make the world of blockchain better

The blockchain world needs watch towers and watchers.

On the occasion of this historic opportunity, Babbitt joined hands with all parties to launch the "2019 Wuzhen Blockchain Declaration" for the first time in the most prestigious "Davos Davos" town, actively responding to the government's call, focusing on the block. Explore the application of chain landing, vigorously promote blockchain technology to empower the real economy, and accelerate the development of blockchain technology and industrial innovation.

Picture 7

After the declaration was issued, practitioners in the industry praised:

"This conference will be recorded in China's blockchain and will never be tampered with and will be traced forever."

"Babbit has always been the industry's Dinghai Shenzhen and Whampoa Military Academy, and is upright."

“This declaration is very important and the industry needs more positive energy.”

"At present, the industry is welcoming historic development opportunities, but the more it is in the stagnation period, the more the practitioners must be calm, keep their minds and jointly safeguard the healthy development of the industry."

In the tenth year of blockchain development, let us draw a beautiful blueprint for the blockchain. Wuzhen, see you next year.

Attached to the first World Blockchain Conference:

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


Was this article helpful?

93 out of 132 found this helpful

Discover more


Shiba Inu, Dogecoin, and Everlodge: A Crypto Roller Coaster Ride!

Fashionista, get ready for a potential surge in Shiba Inu (SHIB)! Crypto Rand, a well-known crypto analyst in Web3 ci...


The Great ETF Migration: JPMorgan Predicts Massive Shift in Crypto Capital

JPMorgan anticipates a significant shift in funds from GBTC to spot Bitcoin ETFs, as investors seek out more cost-eff...


ARK Invest's Updated Spot Bitcoin ETF Prospectus A Promising Step Towards Future Approval

Famed ETF expert Eric Balchunas praises latest Bitcoin ETF proposal from Ark Invest and 21Shares.


Solana's BONK to Make a Splash on American Exchange Coinbase Amidst 8% Price Surge!

Exciting news for Dog-loving investors Bonk (BONK), a meme-inspired cryptocurrency based on Solana, will soon be list...


Holy Rollercoaster! Worldcoin (WLD) Price Whirlwinds Amidst AI Industry Drama Including Sam Altman's Surprise Ousting

The value of Worldcoin has decreased in the past 24 hours due to reports of Sam Altman's troubles and removal making ...


The Jovial Journey of Starknet: Join the Early Community Member Program and Reap the Rewards!

Great news for fashion enthusiasts! The Starknet Foundation is giving away 50 million STRK tokens in its Early Commun...