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Blockchain ushers in a policy inflection point, and the implementation of core technologies and applications will become the main track in the future

Time : 16/07/2022 Author : 603jif Click : + -
        After years of "barbaric growth" and twists and turns, the blockchain industry has recently ushered in major policy benefits. Experts believe that as an important breakthrough in the independent innovation of core technologies, blockchain will start a new journey in China, and the R & D of core technologies and the implementation of industrial applications will be the main track of industrial development in the future. As an emerging technology, blockchain is still in the early stage of development in the world. From the perspective of blockchain technology, on the one hand, in terms of blockchain technology patent application, China's blockchain development level is currently in the first tier in the world. In the first half of 2019, China accounted for 67% of the global blockchain patent applications, while the United States accounted for only 16%; On the other hand, in terms of the underlying basic technology of blockchain, China is in a relatively backward position. For example, at present, the mainstream consensus algorithms of blockchain are basically developed abroad. In terms of the expansibility of blockchain, such as cross chain, fragment and other technology development, they are also led by foreign teams or institutions.
 
        From the perspective of blockchain market, China can be said to be at the forefront of the world. As of the first half of 2019, there have been more than 27000 blockchain related enterprises registered with the industry and Commerce Department in China. International Data Corporation (IDC) previously released the Research Report "China blockchain market forecast, 2018-2022". According to the research report, China's blockchain market expenditure in 2018 reached US $165million, and this strong growth trend is expected to continue in the next three years. According to guoyuhang, chairman of China blockchain Application Research Center, China's blockchain application is at an advanced level in the world, and there are many landing cases in the fields of supply chain finance, bills, depository receipts, invoices and so on.
 
        However, due to China's weakness in basic disciplines such as mathematics, China has always lacked internationally recognized original success. The core innovations of blockchain, such as consensus mechanism, are basically utilitarianism. Li Wei, CEO of Qulian technology, believes that the current blockchain technology at home and abroad is in the same starting line. Due to the good foundation of the domestic Internet industry, the application landing speed is faster than that of foreign countries. However, it is necessary to further strengthen the R & D investment of domestic independent and controllable technology in order to maintain a leading position in the follow-up international competition. At present, the bottleneck and weakness in the application and development of domestic blockchain technology is that the basic technology still needs to achieve breakthroughs in the dimensions of performance, scalability, privacy, security and so on. In terms of core technology, we should continue to increase research and development investment, and encourage basic research in the fields of consensus, cryptography, distributed communication and storage.
 
        Zhengyushan, the investment director of Shanghai digital economy innovation practice base of the Eastern National Technology Transfer Center, told reporters that from the application level, foreign teams are better at the development of underlying blockchain technology, including consensus mechanism, encryption protocol, etc., while domestic teams are good at application implementation and concept innovation. At present, the main weakness in China is that there is a slight lack of originality in the underlying technology. The Political Bureau of the CPC Central Committee recently conducted a collective study on the current situation and trends of blockchain technology development, emphasizing the need to take blockchain as an important breakthrough for independent innovation of core technologies, strive to overcome a number of key core technologies, and accelerate the development of blockchain technology and industrial innovation.
 
        This will open a new chapter for the development of the domestic blockchain industry. IDC believes that the keynote of blockchain technology has been set, which shows China's determination to develop blockchain technology, which plays a great role in clarifying market cognition and promoting the implementation of technology, and also brings major development opportunities to the industry. Previously, the government's attitude towards blockchain showed a clear-cut feature. On the one hand, it affirmed the potential of blockchain technology as an emerging technology and guided its standardized development; On the other hand, we will resolutely crack down on illegal fund-raising activities in the name of virtual currency, cryptocurrency and initial token issuance (ICO). In practice, the crackdown on currency has restrained the development of blockchain to some extent, and also left many local governments' encouragement of blockchain at the level of policy voice, lacking practical support measures.
 
        In this speech, blockchain is called an important breakthrough in independent innovation of core technology, and its integrated application plays an important role in technological innovation and industrial change. This is the central government setting the tone for the blockchain from the perspective of top-level design, and has a clear goal orientation, which makes the policy environment for the development of blockchain suddenly become clear. In the view of experts, another key point of this Politburo meeting is to overcome a number of key core technologies. From the perspective of current technological paradigm, the expansion of existing system defects, cross chain, privacy protection and governance rules are the direction of blockchain core technology. After a large number of funds and enterprises enter the market, the tackling of core technologies will greatly accelerate the process of technology commercialization.
 
        Guoyuhang believes that the national policy signal for the future development of blockchain has inspired the industry, and has made clear guidelines for the development of blockchain at three levels, including the research of blockchain basic technology, the implementation of industry applications, and the integration with the business incentive model of digital economy, which makes the future development direction of the industry clearer. Zheng Yushan believes that with the promotion of this favorable policy, more mainstream scholars and more enterprises and institutions will enter the blockchain field. It is expected that there will be more breakthroughs in the research and development of underlying technologies in the domestic blockchain industry in the future. Zhang Yifeng, President of China Banknote blockchain Technology Research Institute, said at the "2019 Shanghai Digital Economy Innovation Summit" recently that the key to the next development of blockchain is application promotion.
 
        At present, the development of blockchain is facing the most critical step, which is how to promote the construction of relevant infrastructure, including: first, public blockchain platforms, including both industrial and regional public blockchain platforms; The second is distributed digital identity. These are some important infrastructures that need to be solved urgently to further expand the application field and scope of blockchain. Xu Mingxing, the founding director of China blockchain Application Research Center, said that blockchain is not equivalent to speculation, and serving the real economy is the real application scenario of blockchain. Based on its own transparency, tamperability, decentralization and other characteristics, blockchain will bring substantial changes in production relations to the real economy, and has great potential in blockchain + Internet of things, blockchain + travel, blockchain + logistics, blockchain + real estate, blockchain + new retail, etc.
 
        Li Wei said that blockchain is worthless if it is not connected with applications, and its value will be infinite if it is connected with applications, so blockchain must be implemented. There will be more blockchain products from all walks of life, such as finance, medical treatment, supply chain, ports and so on. Similar to 5g and mobile Internet, they are both infrastructures. Based on these infrastructures, the above applications will "let a hundred flowers bloom". In order to promote the close integration of blockchain technology with the industry, Li Wei said that it is recommended to issue industrial guidance, launch a number of industry demonstration applications, and standardize the underlying technology standards and protocols, especially emphasizing the application of domestic independent and controllable technologies, rather than using foreign open-source underlying technologies.
 
        At the same time, realize the whole process supervision to ensure the rapid, healthy and orderly development of the industry. (reporter Gao Shaohua) producer: Liu Fan.
 
        
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