Viewpoint: 2020 is the year of the blockchain transition. The prospects of supply chain finance and digital asset governance are promising.

Source of this article: Securities Daily, the original title "Li Yinke, Vice Chairman and Secretary General of the Blockchain Special Committee of the China Electronic Chamber of Commerce: 2020 is the year of the blockchain transition. Supply chain finance and digital asset governance have development potential."

Author: Xing Meng

At this stage, while blockchain is ushered in historic opportunities, it is also facing phased development challenges. Opportunities and challenges coexist. What urgent problems exist in the development of blockchain? What is the development trend in 2020? With these questions in mind, a reporter from the Securities Daily interviewed Li Yinke, vice chairman and secretary-general of the Blockchain Special Committee of the China Electronic Chamber of Commerce.

Industry Standard Specification

Premise for the value of the blockchain

"Securities Daily" reporter: You have been engaged in telecommunication operation services and the Internet for more than 20 years. What is the opportunity for you to enter the blockchain industry? What do you think are the similarities and differences between blockchain and Internet development?

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Li Yinke: Due to the accumulation of years of industry experience, a large amount of user data and consumption data have been accumulated. When I discussed with some of the earliest blockchain practitioners and experts, I felt that this technology is the infrastructure for future data governance. Blockchain is a trend of value internet, and it is very challenging.

The Internet itself encompasses centralized networks and distributed networks. Blockchain technology is also a type of Internet technology. In the future, there is no question of who will subvert who. Centralized networks and distributed networks will coexist and complement each other according to people's needs. For example, in the construction of public facilities, centralized network management is more efficient, and the Internet of Things that addresses the interconnection of machines may require blockchain technology to achieve value exchange.

The improvement and disruption of traditional industries by Internet technology is based on global comprehensive coverage and extremely low information transmission costs. This is also true of blockchains. When the blockchain gradually achieves large coverage in various scenarios, the cost of value transmission approaches it. At zero, great kinetic energy will also erupt, and it will also play a central role in the organization of new production relations in human society. The foundation of all this is only possible after the establishment of industry standards and specifications.

"Securities Daily" reporter: You once said that blockchain is just a technical means. You can't over-believe it, nor can you land it for the sake of landing. How do I understand this sentence?

Li Yinke: As far as technology is concerned, the blockchain is a decentralized distributed ledger, which can also be understood as a database. Without integration with big data, artificial intelligence, Internet of Things, cloud computing and other technologies, the ability to solve a single problem is very limited. The so-called landing is to empower the real economy, which is suitable for many blockchains in the existing Internet scene and traditional economic scene. However, due to the technical disadvantages of high-concurrency commercialization, blockchain has not done better than Internet technology. Even as a trust machine, it is not more appealing and attractive than centralized facilities. Therefore, I don't think that landing can be coaxed. Landing in the existing scene is called improvement or optimization at best. The biggest application scenario of the blockchain is to create new scenes by combining its own technical characteristics, where revolutionary subversion can only be achieved.

Supply chain finance and digital asset governance have development potential

"Securities Daily" reporter: After the policy wind, the blockchain is facing many challenges, but it still faces many challenges. What do you think are the difficulties that the development of the blockchain is facing?

Li Yinke: Blockchain development faces the following problems: First, there are technical flaws. It is necessary to promote collaborative research to achieve breakthroughs in core technologies; the second is the issue of technology integration. The integration and application of blockchain and big data, artificial intelligence, the Internet of Things, cloud computing and other cutting-edge information technologies require relevant government departments and industry organizations to play a functional role to organize related industry enterprises to exchange and discuss and promote the development of blockchain enterprises; It is a question of building a talent system. At present, most blockchain companies are dominated by non-blockchain personnel. Most of the industry's popularity and air outlets have also led to a mixed mix of industries. They have done many things that are not related to the development of blockchain applications under the name of the blockchain. The reason is that the learning of the blockchain is not enough, the blockchain has been misunderstood, the blockchain-related talents need to be expanded, and the professional and moral standards also need to be improved.

"Securities Daily" reporter: Can you please predict what opportunities and challenges will be encountered in the development of the domestic blockchain industry in 2020?

Li Yinke: 2020 is a turning year for blockchain. When a technology rises to the national strategic level, it fully illustrates the importance of blockchain in the future information technology field, but opportunities and challenges coexist. Blockchain practitioners should find their own roles. In recent years, there have been many risk events under the name of the blockchain, especially in the financial field. Blockchain practitioners can develop business in the field of supply chain finance or data asset governance.

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