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Tai Chi on chain phase III: guests talk about blockchain applications

Time : 19/08/2021 Author : 9z4w5b Click : + -
        Note: on the afternoon of October 19, 2018, the third salon of "Taiji on chain" jointly hosted by nuclear finance and economics and Shanghai Academy of Finance and law was held in Shanghai. This salon focuses on "how blockchain can help the real economy". The following content is from the shorthand notes of some on-site guests' discussion, and the content has not been reviewed by the speakers. Host he Jizhi of the Research Institute of nuclear finance and Economics: next is the free discussion session. Please introduce your organization, talk about the changes in the trend of the blockchain industry, and how to interact with the real economy. Shen Kang, managing partner of hashglobal: we mainly do RMB equity funds and also invest in some blockchain projects. We invest more in infrastructure, such as blockchain payment and distributed computing. The vertical application industry will now be more cautious.
        As for the market trend, I think it will take time. Wait until the infrastructure is more clear. Everyone knows how to play on it, how to do it, and how to improve the efficiency, so that it can be truly implemented. Especially after the general data protection regulation gdpr regulation comes out, I believe that many game rules will change, including the model of the former Internet giant, Google and domestic bat, The practice of eating all the profits of the whole industry may be changed in the future, but this will take some time. Zhu Gaofeng, the founder of theblockchain: our company is called theblockchain. We are a relatively early blockchain business information service organization. In the second half of 2015, we began to do multilateral information exchange between China and the United Kingdom, China and the United States.
        We got involved relatively early, and we got involved in 2015. In fact, we also made investment and layout in 2016 and 2017. At present, there are less than 100 people in the company. The topic of how blockchain can help the real economy is quite interesting. For us, we have always been an enterprise serving blockchain. There are many investment opportunities in blockchain, and we have always resisted this temptation. Many project parties say that you send a token, and we have endured it all the time, including issuing money and trading. In January, 2018, a colleague of mine made a project with a financing of 150million yuan. Recently, I want to sell the shell, because there are less than 2million yuan in the account, and it may be over by the end of this year.
        Blockchain itself is an area to create value, otherwise the project will definitely die. We obviously feel that the water temperature in the industry is declining. I just listened to President Wu's speech, and I mentioned many fields, but I didn't mention the game industry. In fact, it is the game industry that can make more money so far. Maybe the game industry is not considered as the real economy. Our company mainly provides some industry information services for this industry, such as business development, investment consulting, consulting and market promotion. It may take some time to apply blockchain to the real economy, and we haven't seen it very clearly. I still have some patience for the future of development. Thanks for the introduction of the two experts, which is of great reference significance.
        Gu Qianfeng, CTO of btcmedia Asia Pacific region: I'm CTO from btcmedia Asia Pacific region. I'm from a technical background. I came into contact with blockchain quite early. I've been doing some development in this field since 2013 and 2014. Now, the topic of blockchain is relatively long. I'll talk about my shallow understanding of president Wu's speech just now. In fact, President Wu mainly mentioned that we have gone through three stages from traditional economy to Internet economy and now blockchain economy. These three stages have actually spanned hundreds of years. Whether from the Internet economy or the traditional industrial economy, the development of blockchain has just begun, and there is still a long way to go in the future.
        But in the process of future development, I think there are several points we need to pay attention to. The first point is the establishment of a trust system. Just now, President Wu has repeatedly mentioned the establishment of a trust system. Because we say that blockchain realizes the credibility between people. In fact, at present, we are far from reaching this level. There are some deceptive things in it. This problem is actually a big problem. Our people in the blockchain industry say that blockchain can establish a value Internet and a mutual trust mechanism between people. But in fact, people outside the blockchain, including traditional industries, will think that our industry is full of fraud.
        Now the whole industry should feel the crisis personally. From January in the first half of this year, we haven't felt this kind of crisis, and we are quite excited, but now this kind of crisis should have entered a deeper region. Recently, I also heard some views. I mentioned a concept called trusted network. Why did I mention this concept? It is also a time to communicate with some friends in the industry, and we also have a certain consensus. What is blockchain? From a technical point of view, blockchain is actually a trusted ledger, which is not endowed with so many myths as we imagined. It is actually a trusted ledger. Bitcoin is a point-to-point cash system. Ethereum integrates smart contracts and Turing's complete mechanism.
        In fact, the core of its establishment is a set of account books. In addition to a trusted account book, we also need a trusted identity to bear the brunt. If your identity is not credible at a social level or at a community or community level, the problem is very big. We have a joke. The chairman of the bitcoin foundation of the United States will come at the end of this month. In fact, he is quite taboo. People say that he is the chairman of the bitcoin foundation. Why? Because he often joked that our bitcoin foundation is a "criminal organization" because there are many people caught by the FBI. In the blockchain industry, because of encryption technology, some personal identities can be hidden and divided. A person can open tens of thousands of accounts, which is very easy.
        How to access the trusted identity through encryption technology is also a matter of concern for people in some industries recently. For example, at the Shanghai blockchain Conference on September 11, the issue of trusted identity was raised, and it was also directly put forward that trusted identity needs to be maintained by centralized institutions. The third point is trusted computing. Many of our projects are talking about the confirmation of data rights or the ownership of data to individuals, but in fact, if there is no trusted computing technology to ensure, or multi-party secure computing to ensure, trusted computing or now similar to many projects can not pass. Because privacy cannot be guaranteed in the process of peer-to-peer communication, there is no way to fully protect privacy in this process.
        Next is trusted storage, which is actually a large category. Cloud storage has opened up a generation of world. How can trusted storage ensure that the information you store on the network is reliable, safe and privacy protected. Because blockchain cannot save information, it has no storage function. The last point is the network. It is estimated that the speed of 5g network will be at least 20 times that of the current network. It will take about two years for 5g network to be officially started. At that time, if we are still based on the current Internet technology and do not have access to trusted identity and trusted computing, the whole Internet will be in great chaos. Why mention trusted network? In fact, many people said before that now the industry is in deep water. If we focus on the trusted account book, blockchain technology, our vision is relatively short. We can focus on the trusted network level. Trusted computing or trusted identity are actually an opportunity for entrepreneurship in the future, as well as an opportunity for capital investment.
        If you can pay attention to this, I think it is more likely to achieve a theme including today's meeting, that is, how blockchain can help the real economy. However, at present, I think there are still some limitations in blockchain to help the real economy. We need more things to enable blockchain, not just blockchain to enable the real economy. In this case, it is possible to help the real economy. Chen Zhipeng, partner of cross capital: I'm Chen Zhipeng of cross capital. I entered the blockchain industry through bitcoin mining in 2015. I have invested in some tokens in the past two years. I must have made some money last year, but I lost a lot of money this year. This year, when the big bear market comes, people with a lot of faith lose a lot this year. If you really believe in this thing, you think it's really valuable and want to hold it in your hand, The longer you take it, the more you lose. People who really have no faith made money last year have already run away. In December last year, when bitcoin was at the peak of more than $20000, many people had already run away.
        Like Li Qiwei, the founder of the famous Wright coin, he dumped all Wright coins last December and posted them on twitter. At that time, we saw this news, and we also thought that you are a person without faith. You are not firm. You don't think that blockchain has long-term value for the future, so you ran away, and we still have to stick to it. As a result, bitcoin has lost 70% today, and the market value of the whole blockchain has fallen from more than 800 billion to 200 billion, which has fallen by nearly 80%. Many projects, if you don't hold them well, will fall by 90%, which is also very, very much. I was just thinking about our theme today, how blockchain can help the real economy. I will elaborate my views from three aspects.
        The first is that blockchain was particularly talked about last year. In March this year, at three o'clock sleepless group, Xu Xiaoping called on everyone to allin blockchain. At that time, he felt that blockchain was omnipotent and was about to overturn the world. What he said was that those who followed it prospered and those who went against it perished. Follow this trend quickly. At that time, all the people who listened to him suffered a lot. If you enter the field at the beginning of last year and leave at the right time, you will be very happy. I don't think blockchain can be too deified. I think it can cure all ills. We can't dwarf it. For example, outsiders now say that blockchain people are a bunch of liars, which is certainly not true.
        Blockchain must also be valuable. I have read Nakamoto Cong's white paper several times and studied Ethereum white paper. It is really valuable. As Mr. Wu said just now, the value of credible account books exists. But is it like some people's propaganda that the deification of all walks of life can solve the problem immediately, and the source can be traced all at once. The vaccine can be guaranteed to be true all at once. Or before, there was a team engaged in Bubu chicken, and every chicken eaten was healthy, green and ecological chicken, which was free range raised every day. What if you eat it, I'll sell it five times more. Does anyone pay for it. I think we should seriously consider this question. Is it worth so much money and can't be so deified.
        But you can't dwarf that it's a bunch of pyramid schemes. Although there is no state regulation here, because everyone can do it before, and indeed many people engaged in pyramid selling are mixed in. There is a person in our circle who often acts in Southeast Asia. He was a success student and didn't know blockchain at all before. As a result, I learned about blockchain at the beginning of this year, and found that it is great. It is a huge treasure. You will find that people who engage in pyramid selling have a keen sense of smell, and they can know where to get rich immediately. I once listened to the recording of his speech. He said that I often attended many meetings, where I always talked about blockchain greatness, distributed technology, decentralization, hash computing and other technologies.
        He concluded that blockchain is an opportunity for losers to counter attack. You get rich when you come in, which can actually move people. Of course, I don't agree with his formulation. I think he can grasp this sensitively. Then he issued one coin a month, and issued four to five coins for several months in a row. His coins are not sold outside, because he has developed a lot of fans before. It is not said in the recording leaked by the richest man of bitcoin that you can become an online celebrity in blockchain, have fans and issue coins. As a result, this master of successful learning did it like this. He has many fans. He doesn't need to be a netizen first, so he just issues coins. He issues one every month, and he doesn't need to write a white paper. He just issues a coin in the group, and everyone will buy it.
        He found that there was no place to trade, so he set up an exchange by himself. After the exchange went up, he also made market value management. He really made a lot of money, including now in the bear market, he also made a lot of money. I think this is definitely not the correct use of blockchain. The state's prohibition of ICO is right at this level. If it does not prohibit blockchain, it will really be over. But what is the value of blockchain? I still have such a conclusion. I still think that the economist put forward the sentence on its cover story in 2015 that the core value of blockchain is the trust building machine. Today, I think President Wu mentioned this point. Blockchain is the trust building machine.
        Now there are many opponents refuting blockchain. Blockchain itself is a slow and expensive distributed system. In fact, blockchain is not used well in most fields. Whether it is used well in 20 or 30 years depends on technological progress. At this stage, blockchain itself is not easy to use as a centralized service in most fields. In fact, when we go back to the blockchain industry, we can see that the blockchain industry wants to establish an exchange. In fact, we also use centralized servers. We don't use blockchain technology to build an exchange. Although there are actually many decentralized exchanges, various experiences are inconvenient.
        At this stage, blockchain is not easy to use in many industries. It is a slow and expensive distributed database. For example, bitcoin network can only transmit 7 transactions per second, and Ethereum system can transmit 20-30 transactions per second. EOS is very popular now. At this stage, it has reached more than 4000 TPS per second, which is actually much slower than the traditional one. But what is the value of blockchain? He paid the cost of running very slowly and the expensive cost of reaching a consensus on tens of thousands or hundreds of thousands of nodes of bitcoin in the whole network. He paid such a high price in exchange for a system that does not need to trust any central authority and can establish point-to-point trust. He paid a high price to establish such a trust machine that does not need the trust of the central authority.
        Wu Zonggang's view is very right. The primary application scenario of blockchain is indeed finance. Bitcoin itself is an innovation of finance. Although Ethereum is supposed to be a platform, it actually looks like a financing platform at this stage. As a financing or crowdfunding platform, it is also a financial application. At least these two systems are very successful. Why can we do it in the financial field instead? Because your credit cost is very high in this field, I can accept paying a slow and expensive distributed system to reduce my credit cost. In this credit system, I don't need to trust a specific person in the middle. I rely on the consensus and trust in mathematics, cryptography and code to establish a point-to-point trust without the trust of any central authority.
        Because the credit cost is very high, you have paid such a high cost for the construction of basic information system. It is cost-effective to reduce the credit cost. To further extend our topic today, how to help the real economy? If it is not used in finance, not in the virtual economy, in the real economy, I objectively say that at this stage, there are only a few specific areas that are possible
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