What challenges does the blockchain face in the real economy? Academic experts think so

Original: Economic Observation Network

Reporter Huang Lei

Judging from the current cases of companies, blockchain technology companies serve more in the financial and e-government fields, focusing on financial technology innovation and regulatory technology innovation. The number of landed projects is small and the proportion is low. However, the market generally believes that in the long run, blockchain will be deeply integrated with the real economy to help its development. So from the current point of view, what challenges does the blockchain face in the real economy?

On December 6, at the Hainan Free Trade Port Digital Economy and Blockchain International Cooperation Forum hosted by the Hainan Provincial Department of Industry and Information Technology, co-organized by the South-South Cooperative Financial Center, Hainan Ecological Software Park, and Huobi China, including the Central Government Professor Deng Jianpeng from the School of Law, University of Finance and Economics, Hong Xuemin, Director of the School of Information and Linked Blockchain Technology Research Center of Xiamen University, Pei Qingqi, Executive Director of Shaanxi Provincial Key Laboratory of Blockchain and Secure Computing, Li Guoping, Director of Microsoft China Financial Industry His own opinion.

Deng Jianpeng believes that the integration of blockchain technology and the real economy currently faces challenges mainly in terms of laws and policies. He pointed out that several sub-sectors related to blockchain technology in China, such as speculation, mining, and exchanges, are currently gray industries. The related regulations and policies have a high degree of volatility within a period of time. Therefore, the operation expectations of these industries are unclear, which will affect the investment and various business behaviors of market players. He believes that for blockchain companies, we must implement the spirit of the rule of law and provide a good environment for the market. He pointed out that the core can be two points. The first is good law and the second is good law. That is, combining the legitimate demands of enterprises to reflect the core of the law and strictly enforce the law to create the best business environment.

Hong Xuemin believes that the most urgent task is the clear source of the academic world, that is, a more academic review logic is needed to clear the concept of the blockchain, which is conducive to popularization, dissemination and application. Therefore, it is necessary to strengthen cross-disciplinary and cross-field cooperation in academia.

What Pei Qingqi put forward is the practical problem that many blockchain companies currently face in actual business, and that is how to ensure the credibility of the on-chain data. Blockchain technology can ensure that the data on the chain cannot be tampered with, but how to ensure that the data before the chain is accurate is currently in the exploration stage. Pei Qingqi pointed out that this requires a combination of multiple technologies such as the Internet of Things, big data, and artificial intelligence, so as to ensure the credibility of the on-chain data as much as possible.

According to his own observations, Li Guoping put forward three aspects: First, today, when applying blockchain technology, we should think more about how to empower and talk less about subversion. He believes that in the process of moving from traditional business to digital life and the digital economy, there are many pain points and shortcomings in many industry scenarios. How to make up for these problems in the existing real economy and empower existing businesses in the entire informatization process Improving efficiency and reducing costs are the most important issues to be considered in the application of blockchain; secondly, technology is good. Today's blockchain technology, artificial intelligence technology, etc., the public has poor perception. When there is poor cognition, there is room for speculation, there may be bubbles, and problems such as new technology abuse data. Therefore, when applying new technologies, it is necessary to adopt a correct attitude, awe the supervision, the customers, and the sustainable development. In this way, we can go further and be more stable. Third, from the perspective of the network effect principle, the greater the value of the network Bigger. From the earliest local area network to Ethernet to the entire connected world, the effect of the network needs to be expanded. So today we talk about public chains. Is there a standard between chains? Is there a global standard? Is there a standard in China? Can many corporate assets be linked to each other? Thinking and solving these problems will help expand the scope and value of blockchain applications.

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


Core Scientific: A Transformational Financial Move đź’°

Core Scientific, a Texas-based Bitcoin mining company, is set to return to Nasdaq for trading on Wednesday, January 2...


Notcoin: The Play-2-Earn Game that’s Taking Over Telegram!

Since its launch just 26 days ago, Notcoin has achieved an incredible milestone by attaining over 20 million users on...


Breaking News: KyberSwap’s Elastic Pools Liquidity Solution Falls Victim to a $47 Million Exploit

Fashion lovers, be aware! KyberSwap has released a warning about an alleged security breach involving KyberSwap Elastic.


Ripple and RocketFuel: The Dynamic Duo

Exciting News Ripple Labs and RocketFuel Team Up to Transform Cross-Border Finances!


Negotiating with the Thieves - A Hilariously Absurd Showdown

The cyber-criminal responsible for the $46 million breach on KyberSwap demands the return of the stolen digital asset...


Lugano, the Crypto Wonderland of Switzerland: Embracing Polygon with Open Arms

Lugano Embraces Polygon Revolutionizing Crypto Evolution with Layer 2 Scaling Solution on Ethereum Ecosystem