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Zhang Feng, blockchain is the key technology and important driving force for the development of digital economy

Time : 17/10/2021 Author : oflv4c Click : + -
        Author: Zhang Feng, partner of Wanshang tianqin law firm, director of Wanshang tianqin digital legal professional committee, think tank expert / technology evaluation expert of Shanghai blockchain Technology Association, standing member of China Mobile Communications Federation yuanuniverse industry committee, vice chairman of the future industry yuanuniverse 50 people forum. Blockchain is the key technology of digital transformation and an important driving force for the development of digital economy. It can be said that the application of blockchain technology and industrial development run through the whole "14th five year plan" of Shanghai digital economy development (hereinafter referred to as the "plan"). In the development objectives proposed in the plan, it is proposed to break through a number of key technologies including blockchain; In the key tasks, it emphasizes the great value of blockchain in the development of digital new industries, especially digital finance. In the digital new infrastructure, it makes a comprehensive deployment of blockchain as a digital infrastructure; In the support engineering, some specific objectives are put forward.
        Blockchain can break the data island of information system. The traditional Internet has realized information interconnection but can not effectively exchange the value of digital content. Based on its unique consensus mechanism and other technologies, the blockchain can confirm the rights of data, and can solve the mapping relationship between the specificity of physical world objects and the specificity of digital content, so as to realize the trusted circulation of digital content and digital assets. The application of blockchain technology will focus on credit, and gradually launch the new business form of "blockchain +" to realize all-round empowerment of the digital economy. The application of blockchain technology helps to open up the "data island" generated by the system informatization in the past few decades, and realize the fuller play of data value and the fuller allocation of data resources.
        Blockchain promotes the creation of an information machine for social transactions. The rapid development of the Internet constantly improves efficiency, reduces costs and improves service experience. However, while breaking the traditional transaction trust mechanism, there are also many problems and crises that need to be solved, such as the quality and safety of food, medicine and agricultural products, the privacy protection of medical and health data, and the credit review of individual job-hunting enterprise operations. Blockchain technology has the characteristics of distributed storage, traceability and non tampering, which can effectively realize more real-time safe and reliable storage and sharing of data and reduce various risks in the process of economic activities while realizing the protection of data rights. Blockchain promotes effective governance of digital economy.
        The increasingly detailed division of labor between economic activities and business models and the continuous innovation of models pose new challenges to government decision-making, coordination and emergency response. The characteristics of blockchain distributed consensus technology are conducive to promoting data sharing and circulation among relevant parties, systematizing and real-time decentralized and lagging information, and comprehensively improving the government's management services and overall coordination capabilities. Based on the current realization of "one network for all" and "one network for unified management", the further application of blockchain technology can ensure the data rights and interests of all data participants, especially the private sector such as enterprises, and realize the fuller sharing and utilization of data required for social governance, and enhance the government's lean management ability in various fields.
        More importantly, based on data sharing and orderly utilization, it is also conducive to establishing an open, transparent and highly participatory social benign supervision and restraint system, enhancing the people's trust in government governance and enhancing the government's credibility. The plan proposes four major development goals, namely, the continuous improvement of the core competitiveness of the digital economy, the significant increase in the activity of enterprises in the digital economy, the continuous growth of the new driving force of the new track of the digital economy, and the basic establishment of the digital factor market system. Among them, in the goal of continuous growth of the new driving force of the new digital track, it is proposed to focus on breakthroughs in a number of key technologies in key fields such as artificial intelligence, blockchain, cloud computing and big data, cultivate a number of heavy products in intelligent connected vehicles, wearable devices and intelligent robots, and significantly improve the digital technology innovation and digital product supply capacity.
        The plan makes it clear that blockchain, like artificial intelligence, cloud computing and big data, is a key technology that needs to be broken through in key fields. This characteristic of blockchain is reflected in all aspects of the development of digital economy. Its core is to enhance the role of data elements, mainly in promoting business innovation and achieving effective governance. Blockchain plays an important role in expanding new digital industries, cultivating new data elements, improving new digital infrastructure, building new intelligent terminals, expanding new digital enterprises, building new digital carriers and other key fields. It also plays an important role in strengthening the coordination and linkage of key elements such as data, technology, enterprises and spatial carriers, and accelerating the development and layout of the digital economy.
        The plan emphasizes the important role of blockchain in promoting the development of new digital industries and promoting the upgrading of new digital infrastructure. Blockchain promotes industrial ecological integration and innovation. Under the condition of the traditional Internet, the economic digital transformation can only be limited to a specific ecology, which in fact leads to the failure to fully release the value of data and the failure to effectively allocate data resources in a wider range. The application of blockchain technology can more effectively and cost effectively share data, coordinate production and integrate resources among various entities at the upstream and downstream ends of the industrial chain, so as to realize co creation, sharing and governance in the digital transformation, and promote cost reduction, efficiency increase and cross-border innovation of various industries. Among the six major tasks proposed in the plan, the development of digital new industry is the primary task, and digital finance is an important field for the development of digital new industry.
        The plan proposes to reasonably promote the deep integration of new technologies such as artificial intelligence, big data and blockchain, and comprehensively empower the application of financial technology. Artificial intelligence, big data and blockchain can be said to be the core technologies of the development of the digital economy. Among them, artificial intelligence is to process data, big data is to collect data, and blockchain is to store data. It needs to be integrated and applied in the whole process of digital transformation. Of course, it is no exception in the field of financial technology. Of course, what the plan proposes is what should be done in the near future and at present, and comprehensively promote the integration and application of blockchain, artificial intelligence and big data in the field of financial technology. We will innovate the digital financial service model, promote financial institutions to reshape intelligent and efficient service processes, innovate mobile financial services, develop intelligent investment advisers, promote the application of core technologies such as smart contracts, data labels, and natural language processing in transactions, risk control, customer service, etc., improve the intelligent level of key links such as asset transactions, payment clearing, registration and custody, and transaction supervision, and promote the high-level transformation of financial services.
        The smart contract, data tag and natural language processing are all good scenarios that can be combined with the blockchain. Explore the pilot application of digital RMB in transportation, cross regional ecological and green integrated development demonstration zone in the Yangtze River Delta and other scenarios. We will carry out digital RMB pilot projects in an orderly manner and promote the application of new technologies such as smart contracts in digital RMB pilot projects. Smart contract technology can effectively connect with blockchain technology. In the future, the application of digital RMB to blockchain smart contract transactions can greatly promote the compliance of digital asset transactions and effectively promote the development of China's digital economy. We will develop trusted transactions and digital vouchers, establish a blockchain based distributed ledger and smart contract system, explore the end-to-end payment mode of both parties, build systems such as digital bills, and cultivate new business models such as intelligent insurance claims settlement.
        These provide specific pilot methods for exploring digital asset transactions based on blockchain. Blockchain is a new infrastructure for the development of digital economy. Many people with insight in the industry proposed to formulate and update and improve the blockchain technology application and industrial development plan in a timely manner, build a good policy and regulatory environment to promote the development of blockchain technology, and strengthen the support and guidance of supporting policies in science and technology, finance, industry and justice. Accelerate the formulation of laws and regulations regulating the development of blockchain technology, and ensure the stable and long-term development of blockchain technology. The Shanghai data regulation also proposes to support Pudong New Area to strengthen the construction of digital trust system related to data transactions, innovate and integrate technologies such as big data, blockchain and zero trust, build a digital trust infrastructure, and ensure reliable data transaction services (Article 71).
        The plan lists the blockchain separately in the promotion of new digital infrastructure. It is proposed to create a combined scientific and technological innovation system with interdisciplinary intersection of blockchain and cutting-edge technology, promote the R & D and application of "blockchain +" technology, and build a blockchain development ecology with strong innovation ability and independent control. Promote digital trusted transactions and support the promotion of trusted transactions based on blockchain, electronic identity authentication and other technologies. Promote big data trusted transactions, use consensus algorithms to achieve trust and transaction rights, and focus on developing smart contract management and operation platforms. Develop the blockchain business model, focus on the development of blockchain open source platform, NFT and other business models, and accelerate the exploration of digital transformation and digital technology applications in the fields of virtual digital assets, art, intellectual property, games and so on.
        Support the establishment of cross institutional and industrial blockchain alliances, and research and develop blockchain industry standards and protocol frameworks in key areas. Although there are still technologies for technology or even for "financing" in many application scenarios at present, the market substitution advantages and application costs of blockchain for traditional solutions have not been fully considered, resulting in some blockchain applications being "technology flashy" or not grounded, we should also see that blockchain technology is being organically integrated with application scenarios in many fields. As early as June 20, 2019, under the guidance of the Supreme People's court, the white paper on the application of blockchain judicial deposit was released, which reflects that the application of blockchain in judicial deposit has been landing and is constantly maturing.
        As an associated company of Ping An group of China, relying on the rich experience accumulated by Ping An Group in the financial industry over the past 32 years, financial one account has developed financial technology products in many scenarios such as channels, products, risk control, services and operations through the scientific and technological capabilities of artificial intelligence, blockchain and big data analysis, helping small and medium-sized financial institutions to achieve rapid integration with the most advanced financial technology and achieve comprehensive improvement of intelligent business level. The plan proposes the blockchain technology application and industrial development project. Based on the above-mentioned objectives and main tasks of Shanghai's digital economy development, the plan proposes several support projects, and puts forward some specific goals in the application of blockchain technology and industrial development, including striving for the construction of the backbone nodes of the national level blockchain new integration infrastructure "Spark & middot; chain network", undertaking the national blockchain innovation and application pilot task, and promoting the construction of a comprehensive blockchain pilot city in Jing'an District, Promote the city's big data center, SAIC Motor Group and Shanghai Futures Exchange to create benchmark applications in the fields of "blockchain + government service", "blockchain + manufacturing" and "blockchain + finance", and form relevant rules and regulations.
        Industry organizations play a very important role in promoting the development of various undertakings in China, including the digital economy. As an effective bridge between government regulation, industry regulation and self-discipline and industrial development, industry organizations have special provisions in many laws and regulations related to the development of digital economy in China. Article 11 of China's network security law stipulates that network related industry organizations should strengthen industry self-discipline, formulate network security code of conduct, guide members to strengthen network security protection, improve the level of network security protection, and promote the healthy development of the industry in accordance with the articles of association. Article 10 of China's data security law stipulates that relevant industry organizations shall formulate data security codes of conduct and group standards according to the articles of association, strengthen industry self-discipline, guide members to strengthen data security protection, improve the level of data security protection, and promote the healthy development of the industry.
        Article 4 of the regulations on the management of blockchain information services issued by the state network information office stipulates that the blockchain industry organizations are encouraged to strengthen industry self-discipline, establish and improve industry self-discipline systems and industry standards, guide blockchain information service providers to establish and improve service standards, promote the construction of industry credit evaluation system, urge blockchain information service providers to provide services according to law and accept social supervision, Improve the professional quality of blockchain information service practitioners and promote the healthy and orderly development of the industry. By giving full play to the role of the blockchain industry organization, it can effectively pool industry consensus, promote the formation of industrial operation standards, promote industrial norms and healthy development of the industry, effectively maintain the orderly development of the market and protect the legitimate rights and interests of users, and provide decision support for government regulation.
        In practice, many blockchain industry organizations, through holding blockchain application summits, forums and salons, blockchain application innovation competitions, blockchain related industry research and reports, assist in the formulation of blockchain related standards, edit various forms of relevant demonstration application cases, effectively carry out blockchain science popularization, etc., promote the improvement of the basic quality of the society in the digital era, and promote the innovation and development of blockchain technology applications, Promote the construction of blockchain infrastructure, and constantly promote the formation of blockchain and industrial applications to create value.
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