Who Is Chen Chun Who Explained Blockchain To The Politburo?

Professor Chen Chun has long been engaged in cutting-edge research in the field of computer applications. Committed to applying high-level research results to the transformation and upgrading of the light textile industry, it has repeatedly achieved breakthroughs in original innovation of large-scale intelligent textile equipment.

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On the afternoon of October 24, the Political Bureau of the CPC Central Committee held its 18th collective study meeting to study the current status and trends of blockchain technology development. Xi Jinping, General Secretary of the CPC Central Committee, emphasized when presiding over the study that the integrated application of blockchain technology plays an important role in new technological innovation and industrial transformation. We should use blockchain as an important breakthrough for independent innovation of core technologies and accelerate the promotion of blockchain technology. Chain technology and industrial innovation and development.

Focusing on issues such as blockchain industry supervision, market situation changes and future trends, a reporter from the Beijing News interviewed Shen Yan, a professor at the National School of Development at Peking University and deputy director of the Digital Finance Research Center, and deputy director of the Finance and Intelligent Finance Research Center of Southwestern University of Finance and Economics. Chen Wen, Li Ming, director of the Blockchain Research Office of the China Electronics Technology Standardization Institute, Liu Quan, director of the CCID Blockchain Research Institute, Professor Chen Xiao Hua, director of the Blockchain Professional Committee of the China Mobile Communications Federation.

Experts generally believe that the country’s emphasis on blockchain technology will bring huge opportunities to blockchain technology and applications. Through its own R&D and practical exploration of blockchain, China will play an important role in the future development of blockchain and accelerate the development of the global blockchain industry.

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1. What changes will the country’s emphasis on blockchain bring?

Regulation encouraging blockchain technology and industrial innovation does not mean encouraging the disorderly development of virtual currencies.

Chen Xiaohua: In terms of policy, central bank digital currency may accelerate the construction of a new financial system. Ministries and commissions may also cooperate with universities to build national laboratories related to blockchain technology, and governments at all levels will also focus on building blockchain applications. Benchmark; In terms of people's livelihood, blockchain will make it possible to reconstruct the credit system, and the application of blockchain technology in e-government, traceability, charity and other fields will accelerate; economic technology will be profoundly affected, and enterprises in various fields will make progress in standards Progress, global competition will take place on systems and technologies. In the future, network trends will transition from the Internet to the Internet and smart chain networks; blockchain-related capital markets will continue to improve, technology companies will usher in an investment peak, and heavyweight digital trading platforms, digital asset management companies, etc. will emerge. In addition, supervision will continue to develop in a formal and scientific direction. Encouraging blockchain technology and industrial innovation does not mean encouraging the disorderly development of virtual currencies.

Chen Wen: Technology that can truly be used by ordinary people is truly good technology. General Secretary Xi encourages the application of blockchain technology in the field of people's livelihood, which also fully embodies the concept of "people-oriented, development for the people". Blockchain technology improves the information transparency of the system, opens data to more people, and improves the fairness of data access. Its tamper-proof properties greatly increase the difficulty of human manipulation. The design of smart contracts based on blockchain greatly improves the enforceability of the contract. These features are of great value in people's livelihood applications.

For example, in terms of commodity anti-counterfeiting and food safety, traceability applications based on blockchain technology are relatively mature. Blockchain can distribute information related to charity projects to various nodes in the network, making it more difficult for organizations or individuals to control charity projects for their own benefit and improving the credibility of charities.

Liu Quan: Previously, all sectors of society did not have enough understanding of blockchain. When blockchain is mentioned, they will think of it as a virtual currency and dare not promote the development of blockchain technology. This speech by the national leader has played a role in unifying the ideological understanding of all sectors of society. Recognizing that the country attaches great importance to the role of blockchain technology in technological change and industrial innovation is a breakthrough for national independent innovation. This is a very good change.

Li Ming: All aspects of the industry are actively responding to the central government’s call. Governments and departments at all levels are learning from the spirit of national leaders’ speeches and thinking about how to implement blockchain technology.

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2 Is it generally beneficial to the development of blockchain?

The country's emphasis on blockchain will bring huge opportunities, but virtual currencies will face stricter control.

Li Ming: After continuous competition, under the current situation of "letting a hundred flowers bloom", there may be some better platforms to settle down. Competition in application scenarios will also gradually intensify. At the same time, competition for talent and supporting resources will also intensify. However, this competitive pressure is also a reflection of the vitality of the industry. Only with the participation of more relevant parties can our technology and applications be better developed.

Chen Xiaohua: When the market saw this news, they were generally very excited. I think we should look at it in two categories. For those blockchain application companies with certain technology accumulation, they do see hope. But for virtual currency, its price increase is only a short-term phenomenon, a superficial phenomenon. Because China’s special supervision on virtual currencies and Internet finance has not been relaxed, and I think it will continue to be strengthened.

In the next three to five years, there will definitely be a reshuffle in the blockchain industry, as more and more institutions enter the industry and market competition will become increasingly fierce. If you want to achieve healthy and sustainable development, you must do a good job in technology research and development and have sufficient technical reserves; on the other hand, you must integrate it with actual industries to achieve relatively long-term development.

Liu Quan: For those companies committed to blockchain industry applications, spring has indeed come. In the next five to ten years, the country's emphasis on blockchain technology and industrial development will bring huge opportunities. But those who use blockchain hotspots to speculate on virtual currencies will face tighter controls.

In terms of industry applications, large-scale applications have not yet been developed, but all walks of life are exploring early applications of blockchain technology.

For the capital market, corresponding blockchain concept stocks will be sought after by the market. Those companies that are truly developing blockchain technology will gain market recognition, and the industry will develop further. Although the application model of blockchain is very different from the traditional Internet, the scale effect of blockchain application is still relatively obvious. As large companies in the Internet technology industry have entered the blockchain field, their technical reserves, financial strength and scale have great advantages and may continue to occupy a place in the Internet era.

Chen Wen: Although the basic technology of blockchain has been basically mature, its security also faces challenges from new technologies; although its application prospects are undoubted, its current application status still has many immature aspects.

In terms of challenges, the rise of quantum computers makes the current blockchain system without special design vulnerable to attacks by quantum computer hackers, and its proud security may not be reliable. From an application perspective, one of the previous applications of blockchain is in the financial field. However, the current transaction speed of blockchain technology cannot meet the high-frequency needs of financial transactions. In the future, computing power and cloud storage capabilities still need to be further improved. Even in terms of relatively mature product traceability, there are many alternatives available, and the advantages of blockchain technology application over other alternatives have not yet been fully realized.

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3. What are the difficulties in implementing blockchain?

In the early stages of industry development, standards are especially needed to guide everyone's understanding and understanding of blockchain.

Shen Yan: If you visit the city wall in Nanjing, you will find that every brick on the wall is engraved with the names of a series of people, from the top official who built the wall to the workers who burned the bricks. This can be seen as an ancient technology where information cannot be tampered with because tampering with bricks will leave traces. But there is a difficulty here, that is, how to know that the person engraved on the brick is actually the person responsible for firing the brick. This corresponds to the difficulty of how to truly transfer offline information to online during the implementation of blockchain technology. And if you use everyone's consensus to solve this problem, it is similar to getting everyone's agreement before carving a name on a brick, and believing that if they all agree, then the information is true. Even if this solution works, it will take time to get everyone to agree and there will be efficiency issues. That is, the speed of business occurrence that can be achieved by existing technology may not keep up with the needs of actual scenarios.

If breakthroughs in these blockchain problems can be achieved through independent innovation, it will greatly promote industrial change.

Li Ming: In terms of standardization, national standards have been established and are being formulated; industry standard projects have been applied for and 7 group standards have been released; in terms of international standards, more than ten blockchain standard projects have been established, including two important standards. It was contributed by China.

Standards are the cornerstone of industry development and a consensus formed within a certain range. Standards can allow more people to use more convenient methods and more complex technologies, accelerate the development of the industry, and benefit the entire society. In the early stages of industry development, standards are especially needed to guide everyone's understanding and understanding of blockchain. In terms of technology research and development, such as system construction, if there are no corresponding standards, everyone will build it by themselves. Data formats, communication protocols, etc. will be inconsistent, which will have a great impact on the development of the industry.

Chen Wen: The currency circle and the chain circle are two circles. There is still a long way to go to realize the commercial value of the chain circle. With favorable policies, we must stick to our original aspirations and insist on using technology to serve real industries and people's livelihood. The currency circle will have more benefits. Speculative appeals do not rule out using blockchain policies to benefit currency prices. It is foreseeable that concepts related to primary and secondary markets will heat up in the future, and it is even more necessary to ensure that the application of relevant technologies solves practical problems rather than creating gimmicks.

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4. What is the focus of regulation of blockchain technology?

The focus of supervision is to clarify access thresholds, including enterprise access and investor access.

Shen Yan: The first is the balance between financial security and the innovation capabilities of regulatory agencies. Judging from past experience, clear entry thresholds should be an element of healthy development of the industry. Since blockchain is a high-tech technology, it is still at the stage where the core technology needs to be conquered, and of course not everyone has access to it.

So I think the focus of supervision is to clarify the access thresholds, including both enterprise access and investor access. Enterprise access means that the qualifications of enterprises engaged in relevant innovation need to be reviewed to prevent the good from the bad from being mixed, and ultimately bad money drives out good money. Investor access means that since this is a high-tech industry, there are risks and uncertainties in investing in such an industry, and investors should have certain qualifications.

Second, regarding the process of how innovative technologies are implemented and entered into the market, we can consider establishing a sandbox regulatory mechanism to allow companies and regulatory authorities to work together within this limited framework to discover the feasibility of some innovations.

Liu Quan: In terms of supervision, first of all, for those institutions and individuals that use blockchain technology to illegally issue virtual currencies, relevant departments should take more stringent regulatory measures to crack down on such behaviors that disrupt financial order. Regarding the content supervision of blockchain, since the content on the chain cannot be changed or revoked, this poses a huge challenge to traditional supervision, and this problem needs to be solved technically. In addition, the supervision of blockchain technology security will also be a top priority.

Chen Xiaohua: The future regulatory trend should be inter-ministerial coordinated technical supervision and penetrating supervision.

The traditional regulatory model is that each ministry is responsible for one area, but for emerging technologies such as blockchain, multiple ministries and commissions need to work together to increase coordination and supervision. Technical supervision means that the blockchain is a technology that requires high-tech and networked methods to achieve good supervision of the blockchain. Penetrating supervision means that we cannot just be satisfied with post-event processing, but should prevent beforehand, supervise during the event, handle afterward, and open up the supervision process.

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5. What role will China play in the development of blockchain?

China has huge advantages in the digital economy.

Chen Xiaohua: In terms of blockchain technology innovation, China will become the commanding heights and pacesetter of global blockchain technology innovation, becoming the "Silicon Valley" of the blockchain era. As far as specific cities are concerned, Shenzhen, as a pioneer demonstration area of ​​socialism with Chinese characteristics, is more likely to be at the forefront in terms of technology application. Since Beijing has many key universities and has great advantages in technology research and development, Beijing will become an innovation center for blockchain technology research and development.

Li Ming: We are working hard to contribute the best practices of Chinese blockchain to international standards, while enhancing the influence of Chinese standards and accelerating the development of the global blockchain industry. As we all know, our country has huge advantages in the field of digital economy, has a large market size and industrial scale, and has accumulated a lot of practical experience in technology application. From a technical perspective, blockchain is a comprehensive technology that integrates many technical categories. There are many universities, experts and scholars in our country, and cryptography and other related disciplines are relatively leading in the world.

Liu Quan: China’s long-term goals in blockchain are to lead in theory, have technological breakthroughs and innovations, have industrial advantages, and become a leader in blockchain technology. To achieve this goal, there are still some issues that need to be resolved. Some of our shortcomings in traditional IT technology will affect our exploration of blockchain technology. Foreign countries, especially the United States, are still in the leading position in terms of blockchain basic technology architecture and open source communities. More than half of our domestic applications are based on architecture developed abroad, such as Ethereum, etc. Therefore, our country still needs to invest more energy in key underlying technologies, consensus algorithms, etc., and cannot be controlled by others in key technologies.

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Why was it Chen Chun who explained blockchain to the Politburo?

标签： #Block #Application #Regulation #Currency #Virtual