The application is unbounded, how will blockchain integrate into traditional business? | 2020 “Xiamen International Blockchain Week” Main Summit Highlights

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2020 is a year for industrial blockchain to attempt larger experiments. The concept of “new infrastructure” once again makes people think about the use of blockchain technology. How to apply blockchain technology to shape the industrial value? How will the blockchain help realize the collaborative innovation of the industrial ecology? On the road of industrial development, where are the future opportunities of blockchain?

Thanks to the opportunity of the 2020 China Retailers Conference in Xiamen, the focus of China’s blockchain industry in the second half of 2020 will be Xiamen: September 16 to September 18, guided by the Fujian Provincial Blockchain Association, entropy chain school, The “The 3rd China (Xiamen) International Blockchain + Business Future Development Summit”, sponsored by Xiamen Conference & Exhibition Sirford Exhibition Co., Ltd. and co-sponsored by ChainNews and Winkrypto, will be held as a parallel sub-forum of this conference.

This article is a record of the core content of the main summit on September 16 with the theme “Applying Unbounded Value Innovation” .

The event included a leader’s speech, 6 keynote speeches, 1 awards ceremony and 1 round table dialogue. In today’s agenda, Song Zhigang, Vice President of Digital China Research Institute (Fujian), Member of the National E-Government Expert Committee, Executive Director of BSN Development Alliance, He Yifan, CEO of Beijing Red Date Technology Co., Ltd., Li He, Blockchain CMO of WeBank, and Matrix Yuan COO Xie Hongjun, Director of the Blockchain Professional Committee and Chief Digital Economist Chen Xiaohua of China Mobile Communications Federation, Cosine, founder of SlowMist Technology, Wang Honglong, Vice President of Entropy Chain Technology and other guests focused on the collision of business and blockchain technology innovation , In-depth analysis of the macro development direction and future trends of the blockchain, to provide sound judgments for value innovation.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Some core highlights of this event:

  • Li Jianming: Xiamen has the inherent advantages of taking the lead in implementing the development of the blockchain industry
  • Yuan Yue: Digital Fujian is the source of thought and the starting point of practice for Digital China
  • Chen Yibin: Blockchain development is moving from wandering without shadow to taking root
  • He Yifan: The core of the blockchain is broadcast transmission
  • Xie Hongjun: Data trading still faces four major risks in its development
  • Song Zhigang: The advancement of blockchain in Fujian Province must first give full play to the advanced nature of blockchain in government affairs
  • Chen Xiaohua: Blockchain + 5G solves the problem of data security and price
  • Li He: WeBank further promotes the development of the entire industry by doing an open source ecosystem
  • Su Qingquan: Blockchain technology is driving the innovation of the entire government service model
  • Cosine: The application of technology to the scene field will involve many trade-offs besides non-technical
  • Fu Yuanlue: There are two deadliest aspects of blockchain: data confirmation and value creation
  • Wang Honglong: The current two major bottlenecks in the application of blockchain government affairs: cognition and technology
  • Zheng Xiaofeng: Blockchain landing presses two big mountains of technology and business
  • Ma Tengfei: Open finance is actually a combination of decentralized finance and centralized finance

The following is a collection of today’s exciting content, the content has been edited.

Speech by Li Jianming, Deputy Director of Xiamen Municipal Bureau of Industry and Information Technology

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

This year is a very special year. The epidemic has greatly changed our lives and work conditions, and has also had a huge impact on many industries. However, a new round of technological revolution and industrial transformation with new technologies such as blockchain, big data, and cloud computing at the core have shown great convenience, accuracy and importance in this fight against the epidemic. The digital economy is profoundly changing people’s life and production methods, becoming a new driving force for economic growth. As a special economic zone, a comprehensive reform supporting experimental zone, and a cross-strait emerging industry and modern service industry cooperation demonstration zone, Xiamen has the innate advantages of taking the lead in implementing the development of the blockchain industry and the development potential of developing blockchain technology innovation.

In 2018, Xiamen issued the “Opinions on Accelerating the Development of Software and Information Technology Service Industries”, which clearly pointed out the need to vigorously cultivate new technologies, new models and new business formats. In 2019, the Xiamen Municipal Government once again issued the “Several Opinions of Xiamen City on Accelerating the Development of Digital Economy Integration”, which clearly stated that it is necessary to accelerate the promotion of new generation information technologies such as blockchain, artificial intelligence, 5G, big data, and cloud computing, and deepen the real economy Integration to create a national digital economy integration development demonstration zone. Last year, our city was approved as a national pilot area for a cross-border financial blockchain service platform. So far, the domestic financial sector involves a wide range of blockchain platforms, and it is also a rare block led by the national regulatory agency in China. Chain platform. Committed to alleviating the difficulties and expensive financing of cross-border trade for SMEs, and promote the development of real economy industries. Xiamen is also actively deploying and building blockchain + smart cloud management platform, + smart medical, + smart government affairs and other scenarios. Committed to realizing the innovative development of blockchain technology and economic and social integration, injecting new momentum into Xiamen’s industrial development, and providing technical support for the modernization of the government’s governance system and governance capabilities.

Blockchain technology has increasingly become the new technology and new leadership of future technological innovation. General Secretary Xi emphasized that my country should be at the forefront of the emerging field of blockchain, occupy the commanding heights of innovation, and obtain new industrial advantages. Today, we are here to host the 3rd China (Xiamen) International Blockchain + Business Future Development Summit to provide a platform for traditional commercial enterprises to use the cutting-edge technology of blockchain to achieve innovation, transformation and development, and to provide a platform for exchanges and cooperation, and to share the pulse of blockchain technology + The future development trend of business, promote the docking of blockchain resources, and drive industry applications and high-quality projects to land in Xiamen, which is of great significance to promote the development of Xiamen’s blockchain technology and industry.

Speech by Yuan Yue, Director of Technology Application Division of Fujian Digital Office

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

In today’s world, scientific and technological revolutions and industrial revolutions have become increasingly resolute, and the booming digital economy has changed human production and life. General Secretary Xi Jinping has repeatedly emphasized the need to accelerate the development of the digital economy, promote digital industrialization and industrial digitization, and promote the deep integration of blockchain, big data, artificial intelligence and the real economy. In 2019, the scale of the digital economy in our province reached 1.73 trillion yuan, an increase of 20.3%. The total digital economy accounted for 40.7% of the province’s GDP. The digital economy has become a new driving force and main engine for the province’s high-quality development beyond.

Blockchain is a typical representative of a new generation of information technology and a key technology for the development of digital economy. During the 18th collective study session of the Political Bureau of the Central Committee, General Secretary Xi Jinping emphasized that blockchain should be used as an important breakthrough for independent innovation of core technologies, and blockchain should be used to promote data sharing and development, optimize business processes, reduce operating costs, and improve collaboration. Efficiency, building a credible system, etc. Using blockchain technology to explore the innovation of the digital economy scale model, the blockchain is becoming a new driving force for the development of the digital economy, and the development of the blockchain is also receiving extensive attention from the society.

Digital Fujian is the ideological source and the starting point of practice for Digital China. The Fujian Provincial Party Committee and the Provincial Government attaches great importance to the development of blockchain. It has been proposed in multiple documents such as the provincial government work report, digital Fujian work points, and three-year action plan for new infrastructure. Promote the development of blockchain technology and industry, and will also support the development of blockchain to be included in the tenth plenary session of the tenth provincial party committee just held, an important supporting measure of 1+3+N deployment to promote blockchain and our province’s entities Deep economic integration. In the next step, we will strengthen basic platform construction and core technology research, accelerate the application of blockchain technology in multiple fields, build a blockchain industry ecology, accelerate the construction of blockchain talent teams and disciplines, and strengthen blockchain standards and supervision A series of blockchain initiatives have been introduced in order to build our province into an influential blockchain innovation pilot area in the country, integrating demonstration areas and industrial development highlands.

Speech by Chen Yibin, President of Fujian Blockchain Association

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Now is a time node worth paying attention to the development status of the entire industry. Since Chairman Xi’s speech, blockchain has become more and more honest, because more people are paying attention to its practical applications. The development of blockchain is taking root from the original drifting in the air to the ground. As the earliest industry association organization in the country, the Fujian Blockchain Association has been co-organizing and cooperating with local governments, universities, enterprises, and industry organizations around blockchain cognitive education, ecological construction, business linkage, and policy communication. Ecology.

The previous leaders also mentioned the importance attached to the development of this blockchain by the provincial and municipal governments. As the earliest industry association organization in the country, the Fujian Blockchain Association has been working with local governments, universities, enterprises, and industry organizations around blockchain cognitive education, ecological construction, business linkage, and policy communication. Organization and ecology. Welcome the national blockchain practitioners and entrepreneurs to Fujian and Xiamen to jointly expand the market, and the Fujian Blockchain Association will provide the best service.

Keynote Speech: Digital Fujian Blockchain Application Service Platform

Guest: Song Zhigang, Vice President of Digital China Research Institute (Fujian), Member of the National E-Government Expert Committee

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

“Digital Fujian” is an important project promoted by General Secretary Xi Jinping when he was governor of Fujian Province in 2000. It should be said that the development of informatization in Fujian benefited from the promotion of the “Digital Fujian” project by General Secretary Xi in 2000. On the other hand, in fact, all those who do blockchain should also thank General Secretary Xi Jinping, because his final decision in 2019 is the key to making our entire China blockchain development on the fast lane. As a unit of the Digital China Research Institute accompanying the birth and growth of “Digital Fujian”, we are duty-bound to promote the development and construction of “Digital Fujian” in blockchain.

The development of blockchain industry in Fujian Province has some foundations and advantages. First, in terms of the digital economy, the scale of Fujian’s digital economy reached 1.7 trillion in 2019, ranking 7th in the country. The proportion of the entire digital economy exceeds 40%, and the digital economy has become a main battlefield of society and economy. However, the proportion of digital economy in European and American countries can reach nearly 60%. The gap shows that we still have a lot of room for development. Blockchain technology is also a very important technology to promote the development of digital economy.

Blockchain companies in Fujian Province are currently mainly distributed in Xiamen, Quanzhou, and Fuzhou. Comparing the basic situation of the entire industry, Fuzhou, Xiamen, and Quanzhou present different advantages: Fuzhou is a gathering place for blockchain innovation and has advantages in talents; Fuzhou is a digital city; Xiamen is a leader in finance; Quanzhou is in the private economy And the traditional economy is developing well. How to integrate the blockchain with the original traditional economy to improve efficiency and increase revenue is very important.

In terms of the government affairs system, “Digital Fujian” is the first to try and start the construction of the digital Fujian blockchain basic service platform. The basic platform built by the Digital China Research Institute and its partners mainly promotes the construction of digital government, implements the “on-chain government affairs” project, and strengthens data integration and business collaboration. In the case that the current standards and specifications of blockchain technology are not sound, Fujian Province has first tried to build a basic government blockchain platform for government business applications.

In the future, the advancement of the blockchain in Fujian Province must first give full play to the advanced nature of the blockchain in government affairs, and the ultimate goal is to promote the creation of the entire ecology of the blockchain industry.

Keynote speech: BSN design origin-understanding of the future of blockchain

Guest: He Yifan, Executive Director of BSN Development Alliance, CEO of Beijing Red Date Technology Co., Ltd.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Blockchain technology is definitely a major information revolution. The information revolution actually promotes the transmission and storage of data. Internet technology is actually the second-level transmission between two computers, but it is as simple as that. One technology has changed the entire human race and all our business logic.

Blockchain is actually an upgraded version of the Internet transmission method. Internet transmission is a serial structure, a serializer of data. This kind of linear transmission logic will have some problems, such as data loss, data transmission error, etc. The upgraded version of this linear tandem structure is the blockchain. The core of the blockchain is broadcast transmission, which is actually a broadcast data transmission and storage technology.

It is precisely because of this kind of communication technology that consensus can be produced, and it is easy for us to reach consensus. Therefore, the so-called consensus of the blockchain is actually due to this transmission method that produces a consensus, not that the blockchain is a consensus.

All informatization processes will involve two eternal issues, cost and interoperability, and the core purpose of establishing BSN is to solve these two issues. BSN first is to build public city nodes in the data centers of all cloud services, which are actually BSN small data centers; secondly, deploy a large number of various blockchain frameworks in each city node; third, BSN is more like providing API interfaces for everyone. Help everyone quickly build a platform at low cost.

Currently, there are about 100 BSN nodes in China, about 70 cities are connected, and 8 overseas nodes. In terms of cloud service providers, all three operators are participating. Baidu Cloud, Google Cloud, etc. are the main partners. It is estimated that by the end of 2021, there will be at least 10 alliance chains and about 50 public links into the BSN ecosystem.

Aiming at the future development trend of blockchain, He Yifan put forward five prospects: 1. A universal blockchain communication protocol will surely be produced in the future; 2. Legal digital currency and stable currency will become popular and become the mainstream of cryptocurrency and DeFi. Currency must be associated with offline assets; 3. There will be a global digital currency and digital asset transaction, clearing and settlement infrastructure, and it will be realized through a distributed architecture, not a centralized system; 4. Consortium chain and public ownership The boundaries of the chain will be further blurred; 5. The concept of “chain” as understood by the market will disappear. The data center of each business entity will automatically generate a “chain” relationship with other data centers based on business logic, thereby reconstructing today’s the Internet.

Keynote speech: Blockchain empowers digital economy in the 5G era

Guest: Chen Xiaohua, Director and Chief Digital Economist of the Blockchain Professional Committee of China Mobile Communications Federation

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

What are the characteristics of 5G? 5G has the characteristics of millions of links, high bandwidth, low latency, and flexibility. The changes brought about by 5G in the future are actually more of a business model change. In the future, the mobile Internet will eventually build an ecosystem for APP. It can be interconnected, can interact, and build industrial docking with the entire industry through data.

What is the connection between 5G and blockchain? In an interview with the two sessions last year, I said that 5G will give birth to and promote the number and development of various industries, taking the lead in industrial Internet, transportation, energy, manufacturing, education, medical, consumption, leisure and entertainment applications, and promoting traditional business models. This is a subversive revolution to achieve great economic value. 5G will surpass latency with faster transmission speeds, opening a new era of Internet of Everything. The Internet of Everything is connected to data. Blockchain + 5G solves the problems of data security and price. Enabling data value through the two attributes of the blockchain itself is the association between the blockchain and 5G.

This year I raised the issue of blockchain ecology at the two sessions of this year. The blockchain has been developed for 12 years, 1.0, 2.0, 3.0, and finally 4.0. Blockchain 1.0 and 2.0 are pure digital currencies and do not need to be applied; stage 3.0 is the exploration period for blockchain applications, including Shenzhen’s IRS invoices. After October 24, 2019, blockchain has become a state-led technology, a top-down development. In the future 4.0 stage, the development of blockchain should be a new-generation technology industry chain such as new financial attributes + industry + 5G, so as to guide the digital economy ecology.

What problem does blockchain solve? In the era of big data, information transactions are opaque and unfair. Blockchain is actually empowering big data. Regarding the trend of the new generation of technology integration and how the economy will do in the future, in addition to the previous “two modernizations”, we now propose the “five modernizations” theory, including digital governance, digital value, and digital asset.

Awards ceremony

This award aims to commend and respect the teams and professionals who have made contributions in the blockchain field. It is judged from four categories: people, associations, ecological services, and enterprises. It is mainly divided into blockchain industry-driven pioneers and best The blockchain community organization, the blockchain ecological service innovation award, and the 2020 Fujian high-growth blockchain enterprise are awarded to the leaders of the blockchain industry in different senses.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

The “Pioneers of Blockchain Industry Drivers” are: Xiao Feng, Vice Chairman and Executive Director of China Wanxiang Holdings Co., Ltd.; Si Xueming, Director of CCF Blockchain Special Committee; He Yifan, Executive Director of BSN Development Alliance and CEO of Jujube Technology; Chen Yibin, President of Fujian Blockchain Association; Yang Wei, Senior Vice President Cheng, Founder and CEO of Eleven Becco; Da Hongfei, CEO of Distribution Technology; Song Zhigang, Vice President of Digital China Research Institute (Fujian) and member of National E-Government Expert Committee ; Meng Yan, Vice President of Digital Asset Research Institute and Vice President of CSDN; Chen Xiaohua, Director and Chief Digital Economy Expert of China Mobile Communications Federation Blockchain Professional Committee; Coxian, founder of SlowMist Technology; Blockchain Research of China Electronics Standardization Institute Director Li Ming.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

The “Best Blockchain Society Organization Award” are: Beijing Blockchain Technology Application Association; Fujian Blockchain Association. Blockchain Committee of China Computer Society; Blockchain Application Branch of China Federation of Logistics and Purchasing; Guangzhou Blockchain Industry Association; Shanghai Blockchain Technology Association; China Mobile Communications Federation Blockchain Professional Committee; China Electronics Chamber of Commerce Blockchain Special Committee.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

The “Blockchain Ecological Service Innovation Award” are: Fisco Bcos; Beijing Block Technology Co., Ltd. Gaowei Space (Xiamen) Blockchain Co., Ltd.; Lianren International Consulting (Beijing) Co., Ltd.; Entropy Chain School (Xiamen) Education Consulting; Fujian Wanwei Blockchain Technology Co., Ltd.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

The “2020 Fujian Province Blockchain High-growth Enterprise Award” are: Fujian Fulian Technology Co., Ltd.; Xiamen SlowMist Technology Co., Ltd.; Xiamen Wanshi Shunyi Technology Co., Ltd.; Fujian Palm Chain Technology Co., Ltd.; Co., Ltd.; Entropy Chain Technology (Fujian) Co., Ltd.; Xiamen Chain Square Technology Co., Ltd.; Fujian Infront Network Technology Co., Ltd.; Fuzhou Baiguwang Network Technology Co., Ltd.; Fujian Sailfish Blockchain Technology Co., Ltd.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Keynote speech: Open source helps the development of industrial blockchain

Li He, Blockchain CMO of WeBank

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

The name Weizhong actually comes from micro-enterprises and the general public. Weizhong Bank is based on technology and proposes four major technological development directions. We believe that the power of technology can solve the fundamental contradiction of inclusive finance just now. The blockchain will also play a very important role in the entire process, because everyone knows that the blockchain is a trusted machine in the digital field. When the bank itself is doing financial services, we actually act as a credit endorsement or in other words. The role of credit generator and transmitter. WeBank once spent a year researching the underlying technology, starting from P2P networks, smart contracts, enhanced virtual machines, and even the underlying consensus algorithm, to get to the foundation. In 2017, WeBank was determined to take the path of open source, and used the accumulated experience and the pits to benefit the entire industry through open source code.

WeBank has built an open source ecosystem around the open source system, and further promotes the development of the entire industry by doing an open source ecosystem.

At present, WeBank has very in-depth connections with the Ministry of Industry and Information Technology, National Standards Committee, People’s Bank of China, and Financial Standards Committee in the construction of blockchain standards. There are more than 20 standards announced to the outside world, and they are all at the national level or National ministries-level standards. In addition, we also represent the country to influence the formulation of international standards for blockchain technology to international organizations such as ISO.

We create an open source ecosystem around FISCO BCOS. From the application of blockchain, including the number of people in the entire open source ecosystem, we are currently doing quite well in the domestic field or the domestic open source alliance chain ecosystem. At the same time, because we are a domestic bottom layer, we have also done a lot of work on domestic bottom layer adaptation, such as a full set of national secret algorithms, and the adaptation of domestic operating systems and domestic ARM servers have been completed. At present, the single-chain performance of FISCO BCOS has passed the standard test of the Institute of Information and Communications Technology of the Ministry of Industry and Information Technology, and the measured single-chain performance has exceeded 20,000. At the same time, it supports the parallel process of parallel multi-chain, and the expansion of 800-1000 parallel chains can be achieved in the laboratory.

Keynote Speech: Practice of Blockchain Technology in the Construction of Digital Government

Guest: Su Qingquan, Ping An International Smart City Solution Director

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Ping An was established in Shekou, Shenzhen in 1988, starting from quotation and covering finance. Through 30 years of hard work, the entire group has gradually developed from the current traditional insurance bank asset dimension to the direction of finance + technology and finance + ecology. The entire group currently has 5 ecosystems, mainly related to finance, including health, automobiles, real estate, and smart cities. Today’s topic of government affairs blockchain is also carried out in the ecology of smart cities.

Today I will briefly talk about three points.

The first point of view is that blockchain technology is driving the innovation of the entire government service model. There are two levels. First, from the policy level, General Secretary Xi proposed to use the blockchain to promote data sharing; the second point is technically, the decentralized characteristics of the blockchain, and the structure of government governance in an alliance Do not conflict. At this level, blockchain technology will be a very important way and trend of innovative development for government services.

The second point of view is that blockchain + people’s livelihood is an important entry point for promoting Internet + government services in the future. Under the original local characteristics, combined with local governance and the blockchain platform, the existing application scenarios are redesigned, business processes are optimized, and the entire service upgrade is realized.

The third point of view is that blockchain technology can clarify the rights and responsibilities of government data and do more electronic and digital, but the next step should be more intelligent development. The future should be based on building a credible space for individual legal persons, based on this credible space to derive the definition of data responsibility and rights, based on the responsibility and rights to optimize government services, and even the digital economy and digital assets of subsequent cities.

Ping An has a lot of accumulation in the blockchain field. Up to now, Ping An holds more than 400 technology patents. Ping An’s self-developed one-stop chain platform supports national secret standard algorithms. It can support the verification of arbitrary data relationships, as well as homomorphic calculations.

Keynote Speech: Privacy Computing and Data Fusion Infrastructure

Guest: Matrix Yuan COO Xie Hongjun

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

The current data ecosystem is huge. According to IDC statistics, the global big data market is currently around 56 billion U.S. dollars, an increase of more than 15% every year. The biggest problem we face is data leakage and personal privacy protection. With the development of the network, including the massive and complex data generated by the sensors of the Internet of Things, the traditional centralized basic network will not be able to support all-round growth needs, and the construction of infrastructure based on the distributed network will become our only choice.

The data collection end uses infrastructure such as the Internet of Things to ensure reliable input at the source of the data. Big data centers and cloud vendors will be an important aspect of the future large-scale new infrastructure for data. Privacy computing technology represented by cryptography will realize data service and final settlement. The final core and key of data is the value settlement after the data sharing service is provided, which is the natural advantage of blockchain. Data transactions still face four major risks in the development: 1. The current lack of data security protection; 2. It is difficult to accurately evaluate the value of multi-party data collaborative computing; 3. Data leakage and business compliance risks; 4. Reasonable fee model.

Matrix Yuan has proposed the concept of privacy computing since 2018, giving the academic term privacy computing a broader extension, and solving the problem of data privacy protection and collaborative computing currently facing the industry. Regarding the data fusion infrastructure, we believe that the three powers should ultimately be separated: registration, registration, and transactions should be separated. To separate does not mean to separate in isolation. In the past, the logic of banking and finance was that the three powers were divided and the Internet was combined. The combined problem was that everything had the final say, and a series of problems would arise. Blockchain will be combined with cryptography in the future, not physically separated, but separated logically to ensure that our user registration is independent, including transaction registration and final settlement.

Matrix Yuan wants to be the super clearing party of data elements, and the essence is to provide a public infrastructure of data elements that are cross-identities, cross-accounts, cross-structures, cross-clouds, cross-applications, and cross-assets.

Roundtable discussion: Blockchain reconstructs future business development models

  • Moderator: Liu Feng, Co-founder & Chief Editor of Lianwen
  • Guests:
  • Cosine, founder of SlowMist Technology
  • Fu Yuanlue, Professor, School of Management, Xiamen University
  • Wang Honglong, Vice President of Entropy Chain Technology
  • Zheng Xiaofeng, Partner of Yulian Technology & Head of Greater Bay Area
  • Ma Tengfei, Managing Director of Century Shengyuan Asset Management Company

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Moderator (Feng Liu): In a real business society, what benefits does blockchain bring to consumers and end users? What practical problems can blockchain really solve?

Cosine: One of the advantages of blockchain is that it can definitely solve the problem of trustlessness, but it is not a necessity. Even when my friends and I deduced many scenarios, I found that the final deduction might not require a blockchain. It is to solve the problem of de-trust and reduce the cost of trust. Not only can the blockchain be done in this way, there are also many ways.

Fu Yuanlue: There are two deadliest aspects of blockchain. The first point is data verification. From an economic point of view, there is no good solution for data validation, there are no rules, no legislation. The second point is that the value created by the blockchain has not yet been shown. To do a good job in the blockchain is to share data and create value. This value must allow any party in the industry chain to benefit. How to weigh to achieve this goal is indeed a difficult problem.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Wang Honglong: Entropy’s recognition of blockchain technology is mainly based on three aspects: 1. It solves the problem of trust mechanism between people or between enterprises and enterprises; 2. Consensus mechanism. Blockchain may be the process of advancing the human society from the Internet of Things to the mutual trust network; 3. Under the premise of compliance and compliance, apply in the field of financial innovation. These three points are a major core highlight of promoting the development of the future blockchain industry, including the future of business.

Zheng Xiaofeng: First of all, the blockchain is distributed, which means that it can’t be done by one person or one company. It must be something that many people want to do together. Among them, the data is very credible. In the past, two methods were used to resolve disputes. One was morality and the other was law. Blockchain + industry, + various data security will eventually point to another thing called public security law, this is my point of view.

Ma Tengfei: Recently, there is a particularly popular term that is decentralized finance. This so-called open finance is actually a combination of decentralized finance and centralized finance. Whether it is decentralized finance or centralized finance, everyone is proceeding on the premise of open finance, and all of this is based on blockchain technology.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Moderator: Is the blockchain technology really good enough now? What else do you think needs to be improved?

Cosine: The application of technology to the field of scenarios involves many trade-offs beyond non-technology, including politics, economy, laws and regulations, and different countries’ views on innovative things. We have to break through something, but we often touch a lot. Sometimes when we really focus on making a scene breakthrough around the so-called trustlessness, we will find that this scene may not require a blockchain, and some relatively strong cryptographic techniques may be enough. Many things are a balance, and this balance is not particularly related to technology in my opinion.

Fu Yuanlue: Blockchain is a document to put it bluntly, and it must be integrated with new technologies such as AI and cloud computing. From this higher level, the application prospects of blockchain are very good, but how to do some practical combination and really produce specific benefits is worth pondering.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Moderator: Blockchain has several particularly big challenges in the application of government affairs, including conceptual and mechanism challenges. What do you think?

Wang Honglong: There are currently two major bottlenecks in government application. One is cognition and the other is technology. If there is no unified technical standard, all government applications in the later period will form information islands one after another, and it may be more terrifying than traditional information islands.

Zheng Xiaofeng: In fact, most of the customers currently facing government affairs applications are like public security, military, and medical. They are originally isolated islands. The implementation of blockchain is far more than just the mountain of technology. Another mountain is business. If you don’t use blockchain, you can better protect your own interests, or other issues such as ethics and society.

The application is unbounded, how will blockchain integrate into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Moderator: How do you view the development of the blockchain + financial sector under the current regulatory policies, and what should you do in the future?

Ma Tengfei: The earliest real implementation of the blockchain is the Bank of Communications bill center. I think that, for example, insurance policies, large-denomination certificates of deposit, bank notes, securities, etc., all expensive things are suitable for using blockchain as a circulation tool. Many listed companies in Shenzhen have already begun to deploy and apply blockchain in 2015 or even earlier. We are now also beginning to try to use blockchain technology to solve some problems. Everyone must have an open finance mentality. Not only must we be committed to blockchain finance, but in fact, we still have to embrace traditional finance. Combination is the best. It is the most beautiful.

Business Future Summit Beach Welcome Dinner

In the evening, Xiamen Summit officially designated the only welcome dinner, and the Business Future Summit Beach Welcome Dinner was held. The dinner was hosted by the Fujian Blockchain Association, Lianwen, SlowMist Technology, Entropy Chain School, and Winkrypto. Akamai participated in the dinner as the main sponsor.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Akamai Financial and Commercial Director Liang Shipeng said in his speech that Akamai Technologies, as the main cloud delivery platform in the United States, focuses on Internet acceleration and cloud security protection, and has been deeply involved in the blockchain industry for many years. Up to now, Akamai has provided high-quality services such as global CDN acceleration and Internet cloud security protection for dozens of domestic and foreign customers in the blockchain industry, including exchanges and wallets. The high-availability service quality through 100% SLA provides a reliable guarantee for the best user experience in the blockchain industry and the sustainable operation of 7*24-hour financial services.