With the Central Committee of the Communist Party of China setting the tone in October 2019, blockchain will usher in a "strong trend" in 2020: industry standards will be released soon, and local governments will intensively introduce support policies. The industry expects that more blockchain-related industry index products and even ETFs are expected to be launched at an accelerated pace.
Guosheng Securities Blockchain Research Institute believes that in 2020, capacity expansion and trusted computing are expected to become new hot spots, and the increasingly mature 5G will provide a more mature communication bottom layer for the blockchain, and more applications combined with the blockchain are expected to emerge. Out of the water.
Under the lively scene, there were also some worried voices. Currently, the application of blockchain is still in its early stages. Lack of effective reliability and security verification. Key technologies still need to be further improved, and the industrial chain and industrial ecology have not yet been formed. The conditions for large-scale commercial use are not yet mature.
Blockchain takes center stage again
The central government’s setting tone has brought strong impetus to the development of the blockchain industry.
On October 24, 2019, the Political Bureau of the CPC Central Committee held the 18th collective study meeting to study the current status and trends of blockchain technology development. When presiding over the study, General Secretary Xi Jinping emphasized that the integrated application of blockchain technology plays an important role in new technology innovation and industrial transformation; the blockchain should be used as an important breakthrough for independent innovation of core technologies, clarify the main direction of attack, and accelerate the investment of large amounts of funds to overcome A batch of key core technologies will accelerate the development of blockchain technology and industrial innovation.
Fan Ruibin, head of blockchain at WeBank, told a reporter from the International Finance News that research on alliance chains began to rise in China around 2015. In 2019, the central government’s discussions and opinions on blockchain were all based on blockchain technology. This undoubtedly points the direction for the development of blockchain and is of milestone significance.
After the Political Bureau of the CPC Central Committee organized the 18th collective study on blockchain technology, central ministries and commissions and local governments responded to the call to support the development of the blockchain industry, and relevant policy documents were intensively released. Statistics show that the number of policies surged at the end of 2019, with a month-on-month increase of 140% in November, and they are all based on supportive policy information.
In addition, exchanges provide platforms and tools for capital to enter the blockchain industry. On December 24, 2019, the Shenzhen Stock Exchange released the Shenzhen Stock Exchange Blockchain 50 Index. The industry expects that more blockchain-related industry index products and even ETFs are expected to be launched at an accelerated pace.
Driven by policies, industry standards are about to be released. On January 9, Dong Dajian, deputy director of the Information Technology Development Department of the Ministry of Industry and Information Technology, said at the 12th Electronic Information Industry Standards Promotion Conference and Information Technology Service Standards Annual Conference (2020) that blockchain and distribution in 2019 The Formula Calculation Technical Standardization Committee was approved to be established. It has released multiple group standards, one national standard, and nearly ten industry standard projects. Actively participate in the international standards work of organizations such as the International Organization for Standardization (ISO), and lead international standards such as the blockchain reference architecture. Standard settings. In 2020, preparations will be made to establish the National Blockchain and Distributed Computing Technology Standardization Committee to accelerate the formulation of urgently needed standards.
Lu Yifan, general manager of Financial OneConnect’s Blockchain Division, told a reporter from the International Finance News that blockchain, as a technology that can link various fields around the world, has a set of efficient data standards and technical standards, which is very important for Financial OneConnect. is very important. Blockchain industry. Development, especially the interaction between chains, is necessary and necessary.
Zhai Xinlei, head of blockchain at the Innovation and Technology Division of JD Digital Technology Group, told a reporter from the International Financial News that after technology develops to a certain stage, the importance of standards becomes more prominent. The establishment of a standard system and the formulation and improvement of specific standards can effectively prevent enterprises and groups from working behind closed doors without standards and information flow.
However, Li Feng, head of Baidu Financial Blockchain, emphasized to a reporter from the International Finance News that some red lines can be set first in 2020. The standards should be based on the industry's full exploration of practice and the accumulation of sufficient experience, cases and experiences. solutions so that they make sense. Setting standards too early stifles creativity. Standards for the sake of standards.
Fan Ruibin suggested promoting the implementation of the regulatory sandbox as soon as possible. He said there are currently some unclear regulatory compliance and legal applicability issues in certain scenarios. We hope to launch a regulatory sandbox mechanism for consortium chain technology, and on the premise of good risk management and control, encourage everyone to apply blockchain technology, support entrepreneurial projects, and find a balance between financial stability and financial innovation.
Landed applications will explode
2020 will usher in the "blockchain+" era.
The reporter noticed that at the above-mentioned blockchain technology development status and trend research meeting, some specific scenarios for the implementation of blockchain applications were also discussed: In the financial field, it is necessary to solve the problem of difficult loan financing for small and medium-sized enterprises. Large-scale enterprises, bank risk control, department supervision. Difficulties and other issues; In the field of people's livelihood, it is necessary to provide smarter, more convenient and better public services to the people, and ensure the orderly and efficient flow of production factors within the blockchain; In the field of government affairs, it is necessary to realize the cross-department and cross-department of government data department. The utilization of regional joint guarantees will bring a better government service experience to the people.
It is understood that the current blockchain applications of domestic technology companies in the industry are mainly divided into two categories: one is to combine its own Internet advantage areas and strong customer traffic to drive the original business to the chain quickly and improve user experience; the other is to combine its own The advantageous areas of the Internet and strong customer traffic drive original businesses to quickly go on-chain and improve user experience; the other is to enter the industrial Internet and government products, cooperate with government agencies or industry leaders, and empower offline industries or industries through blockchain Government business.
The research report of the Guosheng Securities Blockchain Research Institute shows that China’s Ping An government products have been successfully implemented; Huawei focuses on logistics and government-related blockchain applications; Alibaba’s blockchain technology is deeply integrated with its own business, with rich and diverse application scenarios; Tencent It deployed blockchain early in the region, focusing on the financial field and invoice business.
Qikun Technology CEO Zhu Shaokang told a reporter from the International Finance News that the company has launched a supply chain financial service platform in the three major industries of commodities, medical care, and ticketing. Judging from existing experience, blockchain technology is a good means to solve the financing difficulties of small and medium-sized enterprises. Through technical means with blockchain as the core, the real operating data and real cash flow of small and medium-sized enterprises can be locked. It can help it obtain unsecured and unsecured financing support from financial institutions, and does not require confirmation of ownership by the core enterprise.
Guosheng Securities Blockchain Research Institute believes that many blockchain experimental scenarios are expected to open in 2020, and "blockchain+" applications will penetrate rapidly, and the combination with 5G, Internet of Things, and AI will also be more down-to-earth, and with AIoT ( Artificial intelligence, Internet of Things) technology integration will be more practical and is the direction of blockchain implementation.
Zhai Xinlei also said that with more commercial applications of 5G technology, blockchain can effectively solve the trust problem, and practical applications are more likely to be concentrated in people's livelihood, government affairs, finance and other fields.
Regarding various application scenarios, Zhai Xinlei further stated that the application scope of blockchain at the traceability level is wider and touches more subdivisions; digital certificate storage will play an increasing role on the B-side; the role of blockchain in the financial field Applications will still focus on ABS (asset securitization), and other financial aspects will also involve clearing and settlement systems, cross-border payments, financial insurance, corporate financing, etc.
On January 8, Jiang Guofei, Vice President of Ant Financial and President of Intelligent Technology, announced in Beijing that Ant Blockchain will open its platform technology capabilities to the entire industry. Jiang Guofei said that looking forward to 2020, industrial blockchain has already begun and the turning point is coming.
Lu Yifan pointed out that the popularization of 5G commercial use can further promote the application and improvement of IoT devices in various scenarios, allowing the data flow on the blockchain to be fully optimized from multiple perspectives such as scale, quality, and collection efficiency, thus expanding the use of IoT devices. Application scope. The scope of application of blockchain in various scenarios.
However, Li Feng believes that although 2020 can be regarded as the first year of 5G commercialization, more in-depth 5G applications will take at least 2 to 3 years. 5G will not bring fundamental changes to traceability, certificate storage, etc. Only the arrival of the 5G-driven Internet of Things era (including 5G, storage, energy, computing, chips, and many other mature technologies that meet the requirements at the same time) will bring About traceability. Existing phase 1.0 application cases such as certificates of deposit, cross-border payments, etc. will be advanced to phase 2.0.
Li Feng also pointed out that in 2020, governments and enterprises will release a number of blockchain projects. Overall, this is good for the industry and injects vitality into the industry. But whether it is sustainable and whether it can drive technological progress should be viewed more objectively. .
The underlying architecture is being improved
As a national strategy, blockchain has been brought to the forefront, but blockchain applications are still in their infancy, and the industry is also in the construction and exploration stage of basic technology platforms. Therefore, government agencies, technology companies, etc. are also working hard to develop basic blockchain technology platforms.
The research report of Guosheng Securities Blockchain Research Institute points out that governments and large institutions are keen on developing basic platforms. As of the end of 2019, the main blockchain basic platforms include the State Administration of Foreign Exchange’s national pilot cross-border financial blockchain service platform, the National Information Center, China Mobile, and the blockchain service platform (BSN) deployed by China Mobile. UnionPay, industrial and commercial blockchain service platform. An enterprise-level blockchain technology platform built by banks.
Fan Ruibin pointed out that the development of blockchain, especially its application in the financial industry, urgently requires a safe, controllable, open source, financial-grade alliance chain underlying platform to provide guarantee for the application of blockchain technology in the real economy. .
"The core function of blockchain is the network." Zhai Xinlei also said that the current development of blockchain companies' respective technologies and the current situation of the corporate world are far from forming an ideal regional or even national blockchain network. In the future, it will be necessary to connect multiple alliance chains to achieve wider business interoperability.
Li Feng also believes that what should be done most in 2020 is to support wider applications in the directions of industrial blockchain, "blockchain + real economy", "blockchain + digital economy", especially the application of underlying technologies. To explore, first let technology and industry combine to prosper.
To this end, various agencies have also taken frequent actions. JD.com is the first domestic Internet company to launch the underlying engine of open source blockchain. Subsequently, Ant Financial also announced the launch of a self-developed blockchain engine. Internet bank WeBank and other members of the Golden Alliance Open Source Working Group jointly launched the open source alliance chain. platform.
It is reported that the blockchain engine independently developed by Ant Financial has technically achieved "double billion". Through scalable consensus and two-layer network design, Ant Blockchain can support 1 billion account sizes, 1 billion transactions per day, and achieve 100,000 cross-chain information processing capabilities per second (PPS).
At the beginning of 2020, Ant Financial has been actively participating in the construction of the underlying architecture of the blockchain. On January 8, Ant Blockchain announced that it would open its platform technology capabilities to the entire industry. Immediately afterwards, on January 9, Ant Blockchain, a subsidiary of Ant Financial, and Qianhai United Exchange (QME) jointly launched the construction of a blockchain warehouse receipt alliance in Shenzhen.
It is understood that after Ant Blockchain cooperates with QME, based on the underlying structure of the blockchain, warehousing, insurance, banks, trade, and manufacturers will jointly create a consortium chain in the future, integrating blockchain, the Internet of Things, and intelligent identification. Technology is applied in all aspects of physical trade such as transaction settlement, warehousing and logistics. Through technology empowerment and system docking, it is possible to realize the visualization and traceability of the entire life cycle of spot commodities, and use the functions of the factor platform to help enterprises, especially those that are difficult to obtain under traditional credit logic. Provide financing for small and medium-sized enterprises and traders, solve the worries of the capital chain, provide much-needed infrastructure and public services for the real industry, and build a standardized asset system in a truly market-oriented manner.
Business conditions are not yet mature
Faced with the dilemma that infrastructure needs to be improved urgently, the conditions for large-scale commercial use of blockchain technology in 2020 are not yet mature and will face many constraints.
Li Ling, associate professor at the Department of Communication Science and Engineering at Fudan University, believes that there are two main obstacles to large-scale commercialization of blockchain: first, the demand side has not yet found a direction; second, there are two main obstacles to large-scale commercialization of blockchain. Secondly, the maturity of alliance chain technology is limited.
Li Ling told the International Finance News reporter that the demand side is relatively unfamiliar with blockchain technology, has insufficient understanding, and even misunderstandings, resulting in the inability to formulate plans and make correct decisions. At the same time, the supply-side alliance chain technology market is still underdeveloped, making it difficult to provide diversified and strong support. In addition, the technological maturity of the alliance chain is limited, the reliability and security lack effective verification, the Dapp and smart contract development environment is not complete enough, and there is no "underlying-tool-design-development-service" industrial chain and industrial ecology.
Zhu Shaokang believes that based on related alliance chains, the biggest obstacle to the commercial application of blockchain comes from how to maintain the data providing nodes on the alliance chain. At the same time, in terms of data supply and verification, how to ensure the validity and authenticity of data, and have sufficient distribution of benefits, so as to form a long-term mechanism and incentivize it to ensure long-term supply and verification of data.
"The premise for the alliance chain to be effective is that the nodes on the chain are valid, the data provided is real data, and it must also play a role, but there is still a problem in how to make it effective in the long term." Zhu Shaokang said.
Jiang Guofei also believes that this is only the first step to accelerate the commercialization of blockchain. Although the commercial application prospects of blockchain are very broad, overall, it is still in its infancy. In the future, “on-chain transaction volume” will become an important indicator to measure the level of the digital economy.
Zhai Xinlei said that there are still two main difficulties in large-scale commercialization of blockchain: First, without a complete digital industry scenario, blockchain technology cannot be implemented. Because blockchain is a digital technology, if you want to apply blockchain in a scene, you need to digitize the scene, or the digitization must be completed within a visible time frame. Secondly, the key technologies of the blockchain need to be further improved, such as consensus protocols under large-scale nodes, cross-chain integration, anti-quantum cryptography, multi-language contract engines, etc.
Li Feng bluntly stated that large-scale commercial use of blockchain will not come in 2020. “Because we have yet to see a truly mature and solid (data-owned, decentralized) application in the industry (referring to the direction of industrial blockchain) that fully embodies the value of blockchain, and such an application can be replicated on a large scale. .prospects and capabilities”.
Li Feng further pointed out that weak basic technical capabilities, high cost of solution and business integration, underdeveloped ecosystem, and difficulty in profitability are the main obstacles to the commercialization of blockchain in China. Among them, weak basic technical capabilities are the biggest problem facing my country’s blockchain development. Therefore, in 2020, it is necessary to strengthen investment in basic technology, encourage investment, and guide investment.
“The lack of supporting facilities for the application of blockchain in some industries has led to many obstacles. At the same time, it is difficult to evaluate the application effect, resulting in a lack of continuous investment and difficulty in generating commercial profits. This has also led to the commercialization of blockchain failing to form a benign self-development. Cycles require time to accumulate, do not mature prematurely, and slowly form the soil that supports ecological construction. Li Feng said. (Yu Jichao)
标签： #Blockchain #Finance #Scenario Application #International Financial News #Li Feng
评论列表