People's Daily Online, Beijing, October 26 (Huang Sheng Chen Wei) On the afternoon of October 24, the Political Bureau of the CPC Central Committee conducted the eighteenth collective study on the current status and trends of the development of blockchain technology. Xi Jinping, general secretary of the CPC Central Committee, emphasized during the study that the integrated application of blockchain technology plays an important role in new technological innovation and industrial transformation. Blockchain should be used as an important breakthrough in independent innovation of core technologies, and the main attack direction should be clear. Increase investment, focus on overcoming a number of key core technologies, and accelerate the development of blockchain technology and industrial innovation.

The speech of General Secretary Xi Jinping has a significant impact on the blockchain industry, will accelerate the transformation of the blockchain industry, accelerate the application and promotion of the blockchain, and accelerate the innovative development of the blockchain industry.

Promote the upgrading of the blockchain industry

Blockchain is a new application model of computer technology such as distributed data storage, point-to-point transmission, consensus mechanisms, and encryption algorithms.

Ren Heping, a specially-appointed expert of the People's Network Blockchain Research Institute and the principal of the China Financial Research Center of Tsinghua University, said that blockchain technology has existed for a long time, and the goal is to decentralize or intermediary peer-to-peer transactions. The types of transactions are complex and existing There are also currency-to-currency transactions for physical transactions, which is conducive to achieving fair competition throughout the society and the improvement of the market economy and business models.

Xi Jinping pointed out during the study that the application of blockchain technology has been extended to many fields such as digital finance, the Internet of Things, intelligent manufacturing, supply chain management, and digital asset trading. China has a good foundation in the field of blockchain. We must accelerate the development of blockchain technology and industrial innovation, and actively promote the development of the integration of blockchain and economy and society.

Xi Jinping also pointed out that it is necessary to strengthen basic research, improve original innovation capabilities, and strive to keep China at the forefront of theory in the emerging field of blockchain, occupying the commanding heights of innovation, and gaining new industrial advantages.

Liu Xiaolei, a specially-appointed expert of the People's Network Blockchain Research Institute, director of the Department of Finance of Peking University's Guanghua School of Management, and director of the Blockchain Lab said that blockchain has a wide range of application scenarios in foreign trade and supply chain management. For example, she said that the implementation of blockchain in supply chain finance can integrate data from vertical industries. If data can be accessed along the supply chain in various industries, not only can it improve management and operation efficiency, but it can also better solve the problem of financing difficulties and expensive financing for small suppliers without credit, and promote the upgrading of the entire industry.

Promote the development of the underlying technology of the blockchain

Xi Jinping also emphasized during the study that we must promote collaborative research, accelerate breakthroughs in core technologies, and provide safe and controllable technical support for the development of blockchain applications. It is necessary to strengthen the research on the standardization of blockchain and enhance the right of international discourse and rulemaking. It is necessary to accelerate industrial development, give full play to market advantages, and further open up the innovation chain, application chain and value chain. It is necessary to build a blockchain industry ecology, accelerate the deep integration of blockchain and cutting-edge information technologies such as artificial intelligence, big data, and the Internet of Things, and promote integrated innovation and integrated applications.

In Liu Xiaolei's view, the simplest application of blockchain is to put information on the chain and save it permanently. Further applications are to realize data sharing and the use of smart contracts, which not only improves efficiency but also solves many problems of human intervention.

Liu Xiaolei believes that blockchain as a core technology is helpful for data sharing, but the underlying technology of the blockchain is still immature and needs further research and development. For example, zero-knowledge proofs, encryption operations, and other technologies, if better breakthroughs can be made, it will help solve the problem of difficult data confirmation and sharing.

Liu Xiaolei stated that, unfortunately, some time ago, the biggest application of blockchain has become the issue of coins and illegal fundraising, so that the application of blockchain technology has not received enough attention and promotion.

Liu Xiaolei also said that in the past, people paid too much attention to business models and ignored core technology development. Because technological development is a slow process, the speech of General Secretary Xi Jinping can promote the development of underlying technologies and increase the emphasis on technological development.

Conducive to the sustainable development of business models

Liu Xiaolei said that for small blockchain companies, the need for data connection and sharing is very urgent. Only after the data is connected can the risk control and process work better. From this perspective, future data is assets.

Liu Xiaolei said that in addition to various banks, local governments, and even vertical industry supply chains, if blockchain technology can connect data, then under the entire supply chain system, small suppliers to secondary suppliers, from one Tier-level suppliers to core enterprises, there is a sustainable business model, and the economy can develop better.

A person in the blockchain industry said that the speech of General Secretary Xi can help the blockchain industry to clear its roots, promote the continuous increase of investment in the blockchain field by all walks of life, and firmly support technological and intellectual property innovation. Core technology development companies bring a round of dividends. In the next three to five years, the blockchain industry will focus entirely on the promotion of technology, including digital technologies such as artificial intelligence, the Internet of Things, 5G, and integration and development with the real economy.

Promote the reshaping of the industrial chain

Xi Jinping pointed out that it is necessary to use blockchain technology to explore digital economic model innovation, provide power to create a convenient, efficient, fair competition, stable and transparent business environment, provide services for advancing supply-side structural reforms, and effectively connect supply and demand in various industries. Accelerate the continuous conversion of new and old kinetic energy, and provide support for promoting high-quality economic development.

Chen Lei, CEO of Xunlei Group and CEO of Wangxin Technology, said that in the early days of Internet development, connection was the core demand of technology workers. All the early architectures and protocols of the Internet were designed to bring faster and more convenient connections to society.

Chen Lei said that the blockchain proposed for the first time that the Internet can be regulated through algorithms and protocols, and the user's property is protected through a consensus mechanism. By giving rules to the Internet, the blockchain can truly realize the technological governance of the Internet and effectively improve the efficiency of social management.

Chen Lei also believes that the distributed and weakly centralized technical advantages of blockchain can achieve trust transfer and information penetration, improve collaboration efficiency, and solve the integrity, authenticity and uniqueness of traditional industry value transmission to a certain extent. Problems, reduce the risk and cost of value transmission, and improve the efficiency of transmission.

In addition, Chen Lei also said that in the era of the digital economy, users have gradually replaced capital to become the largest company value. If it is still in accordance with the traditional value distribution system, it is obviously no longer reasonable. Blockchain technology can reconstruct the value distribution system of traditional industries, include ordinary users in the distribution of industrial values, and solve the problem of quantification and incentives for large-scale user participation and contributions, thereby changing the incentive model and value distribution system for industrial development To promote the reshaping of the industrial chain.

Li Ming, director of the China Electronics Technology Standardization Research Institute and the Blockchain Research Office, believes that based on blockchain technology, an industrial sharing and service platform will be established, an industrial service model will be innovated, the economic exchange income will be improved, and the industrial form will be improved and upgraded.

Promote the safe and orderly development of the blockchain industry

There have been many ups and downs in the development of the blockchain industry, and ICOs have cast a shadow over blockchain technology.

Xi Jinping emphasized the need to strengthen the guidance and standardization of blockchain technology, strengthen the research and analysis of blockchain security risks, closely track development trends, and actively explore development laws. It is necessary to explore the establishment of a security guarantee system adapted to the blockchain technology mechanism, guide and promote blockchain developers and platform operators to strengthen industry self-discipline and implement security responsibilities. It is necessary to implement the rule of law network into the management of the blockchain and promote the secure and orderly development of the blockchain.

Liu Xiaolei suggested that on the frontier of the innovation and development of blockchain technology, many blockchain technology companies may emerge in various places in the near future, and I hope that local governments will carefully screen and guard against many illegal activities under the banner of blockchain.

He Ping also said that in China, it is extremely normal for the chain and currency circles to be separated from each other. The latter may contain more risks. Only when the regulator controls risks, can a new entrepreneurial model be established.

In He Ping's view, the blockchain industry is more focused on application development, focusing on improving the operating efficiency of the entire industry, the secure and orderly development of blockchain technology, and the introduction of a large number of innovative entrepreneurial talents.