Xinhua News Agency: China's blockchain industry has broad prospects for development

Xinhua News Agency, Hangzhou, October 26 (Reporter Zhu Han, Ma Jian) ​​Blockchain technology is leading a new round of global technological change and industrial transformation, and promotes the "information Internet" to "value Internet".

According to the public information, the blockchain is a kind of accounting technology that is jointly maintained by many parties, uses cryptography to ensure transmission and access security, and can achieve consistent storage of data, difficulty in tampering, and prevention of repudiation. It is also called distributed ledger technology.

"How to keep the system with possible fraudulent nodes in normal operation and output credible results, this is the core problem that the blockchain needs to solve." The founding team is from Li Wei, the founder of the interesting chain technology of Zhejiang University.

The 2018 China Blockchain Industry White Paper released by the Ministry of Industry Information Center in 2018 shows that the blockchain is becoming the forefront of global technology development. For example, the United States is constantly improving public policies related to blockchain technology; the EU is working hard to Europe is the leading region for global development and investment in blockchain technology, accelerating the study of international-level “blockchain standards”.

From the domestic point of view, the State Council issued the "13th Five-Year National Informationization Plan" in 2016, and listed blockchain technology as a strategic frontier technology. In June 2018, the Ministry of Industry and Information Technology issued the "Industrial Internet Development Action Plan (2018-2020)" to encourage the application and exploration of emerging frontier technologies such as blockchain in the Industrial Internet.

Professor Cai Liang, executive deputy director of the Blockchain Research Center of Zhejiang University, said that the technological development of the western blockchain focuses on the public chain. The application and industrial development focus is on financial innovation based on the public chain, while the focus of China's blockchain technology development is The independent and controllable alliance chain, the focus of application and industry development is how the blockchain serves the industrial economy, government services and social governance.

Many experts and industry insiders believe that China's blockchain industry has gone from upstream platform services and security services to downstream industrial technology application services to industry investment and financing, media and talent services to ensure industrial development. Basically complete, coordinated and orderly, and jointly promote the industry to move forward.

At present, some areas in China have already tried the application of blockchain technology. For example, a large number of government affairs systems in Xiong'an New District of Hebei Province are based on blockchain technology construction. Shanghai started the construction of blockchain technology innovation and industrialization base in 2018. The Hangzhou Internet Court issued a judicial basis. Intelligent contractual judicial application of blockchain technology.

Domestic Internet companies are also widely involved in blockchain technology applications, such as Alibaba's focus on product traceability, cross-border settlement, etc. Tencent focuses on the application of financial invoices and other financial fields, and Jingdong focuses on transparent supply chain systems to combat counterfeit and shoddy products.

Many experts and industry insiders said that the blockchain technology will have broad application prospects in the related fields of government affairs, finance, and people's livelihood. For example, through blockchain technology, distributed sharing of government data can be realized; for example, leading enterprises in the supply chain can transfer their credit to small and micro enterprises through blockchain, and then partially solve the problem of financing difficulties and financing. .

"How to solve the efficiency and security problems of the alliance blockchain, how to solve the data synchronization problem under the chain, how to solve the regulatory problem of the blockchain is an important direction for future development." Cai Liang said that only solve the above problems, The blockchain can really serve our economic and social development.

Original link:

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


Families of Hamas-Attack Victims Sue Binance Over Alleged Role in Terror Financing

Families of the victims of the Oct 7 Hamas attack on Israel have taken legal action by filing a lawsuit in the US Dis...


State Attorneys General accuse SEC of exceeding its authority in Kraken lawsuit.

The state attorneys general raise concerns that the SEC may be attempting to assume jurisdiction that rightfully belo...


Terra Founder Do Kwon Faces Legal Dilemma as Former Team Leader Testifies Against Him

The Seoul Southern District Court held its first hearing yesterday in the case against Terra founder Do Kwon. Here ar...


Terraform Labs Co-founder Do Kwon Wins Second Appeal Against Extradition Requests

The recent court decision in favor of Kwon marks a significant achievement, as their previous appeal in November init...


Aragon DAO's Bold Move Backing Lawsuit Against Founding Team with $300,000 in Funding!

Aragon DAO has recently voted in favor of pursuing legal action against its original team, providing $300,000 in fund...


Hinman Memo Unsealed: SEC Official Expresses Concern Over "Ethereum is Not a Security" Declaration

On June 13, 2023, documents related to a speech given by William Hinman, former director of the Division of Corporati...