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The present and future of blockchain: we are promoting the legislation of personal information protection and gradually establishing technical standards

Time : 10/06/2022 Author : w6pvsi Click : + -
        Zhou Yanli, member of the National Committee of the Chinese people's Political Consultative Conference and former vice chairman of the China Insurance Regulatory Commission, is paying attention to the above issues. On the afternoon of May 12, he publicly called for "accelerating the unified legislation of data protection" in an online forum with the theme of "opportunities and challenges of industrial blockchain". Zhou Yanli said that although the relevant legislation is already in progress, the latest development is that the data protection and other relevant provisions are still scattered in various documents, and there is still a lack of unified institutional provisions. In recent years, financial institutions including insurance have accumulated a large amount of customer data and transaction data in their business activities. Blockchain technology originated from bitcoin. It is traceable, non tamperable, open and transparent. It is very suitable for solving information asymmetry and trust problems, and has rich application scenarios.
 
        Ma Guoxiang, director of the digital finance Laboratory of the Financial Technology Research Institute of the industrial and Commercial Bank of China, gave a live introduction to the online live broadcast of the "cloud" forum on the theme of "new infrastructure, new layout and new energy" sponsored by the China information and Communication Research Institute and the people's Political Consultative Conference newspaper culture media Co., Ltd. "opportunities and challenges of industrial blockchain". In a broad sense, blockchain can be divided into currency circle and chain circle, In most countries, including China, the circulation of legal currency and virtual currency in ICO is illegal, and the commonly referred blockchain is the chain circle, which is the category of distributed ledger proposed by the central bank's Financial Standards Committee. What is more special is Libra. As a super sovereign currency, it is supported by real asset reserves and linked to a basket of currencies. The association led by Facebook conducts multi-party governance and decision-making based on Alliance Technology. Libra is bound to be difficult to land in countries and regions with perfect financial supervision, but it may grow "savagely" in some regions with lack of supervision and serious inflation.
 
        From the perspective of technology, Ma Guoxiang believes that blockchain includes cryptography, distributed (consensus algorithm), cloud computing, network and other technical means, and will become an important part of the future digital infrastructure. From the business perspective, the blockchain will optimize the interaction process and interface, ensure the authenticity, validity and fault tolerance of data, and may become the standard interface for future business interaction. From the social perspective, the blockchain will strongly promote the digitization, intelligence, refinement and rule of law of social governance, and reshape the social trust system. He said that the unique distributed account book asymmetric encryption and authorization technology, smart contract and other characteristics of blockchain technology not only provide some solutions to some problems encountered in the development of the insurance industry, but also help the insurance industry, financial industry and other industries to promote the transformation and upgrading of the industry.
 
        Especially after the outbreak, the resumption of work and production can provide more scientific and technological support and risk protection, Zhou Yanli said: "Blockchain technology essentially solves the problem of mutual trust and can help the insurance industry to reduce costs and increase efficiency. When it comes to blockchain technology, the Party Central Committee attaches great importance to it. I remember that in October 2019, General Secretary Xi specially emphasized that the integrated application of blockchain technology plays an important role in new technological innovation and industrial transformation when he presided over the collective study of the Political Bureau of the Central Committee on the development status and trend of blockchain technology As a core technology, it is an important breakthrough for independent innovation. ". More than one enterprise focused on the blockchain and launched their own platforms, including Siemens, abb and Ge, as well as domestic Haier, China Aerospace Science and industry, Baidu, Alibaba and Tencent.
 
        In the view of Xu Siyan, vice president of Tencent Research Institute, the industrial blockchain and industrial Internet have the same advantages. The focus is not on the technology itself, but on the connection with various production industries to redesign some models of traditional industries. Xu Siyan said: "The digitization of the traditional economy or the real economy will encounter bottlenecks. There are huge differences in nature between data and traditional assets, which are easy to delete and copy. The blockchain can fundamentally ensure the uniqueness, non duplication and non tampering of digital objects, and can help the traditional industry cope with the challenges of cloning, confirmation of rights, property rights, privacy and security, and realize the trustworthiness through the data chain Digitization, right confirmation data and digital transactions of intangible assets such as IP.
 
        ”In addition, the traditional economy is inherently centralized and has a blueprint for multi-party trust and cooperation. The blockchain also solves the problems of multi-party trust and cooperation through the multi-center approach, combined with smart contracts and other technologies. Therefore, the blockchain can optimize the industrial value chain by solving the problem of multi-party trust, and play a role as an infrastructure to support data elements. Xu Siyan said that since the end of last year, data elements have also become a key word in various national documents. In the era of digital economic development, data elements have played a key multiplier role in improving production efficiency. Xu Siyan took the cross departmental data collaboration in the epidemic as an example. He said that the transparency of material distribution and community governance have exposed some common problems. The competent authorities once hoped that Internet companies like Tencent could provide more favorable technical tools for the government's scientific governance.
 
        Next, how should the blockchain integrate into specific scenarios and play its role? According to Tencent's thinking, it will integrate more with the real economy and promote more large-scale landing in the fields of supply chain finance, taxation, justice and medical care. In addition to Tencent, the central enterprise China Chengtong Holding Group Co., Ltd. and the central storage Nanjing Intelligent Logistics Technology Co., Ltd. (hereinafter referred to as the central storage intelligent logistics technology Co., Ltd.) and Yunnan Yijian Wenyu Technology Co., Ltd. are also exploring the blockchain. Lin Yonghua, general manager of Yunnan Yijian Wenyu Technology Co., Ltd., said that the enterprise is trying to trace the product source through blockchain technology, pattern recognition and AI video analysis.
 
        Liu Yunfei, President of China storage Intelligent Transportation Strategy Research Institute, believes that, generally speaking, blockchain technology is more suitable for the scenario of long value chain, complex communication links and game behaviors among nodes. Using blockchain technology to improve the efficiency of cross subject cooperation and reduce the corresponding costs is to upgrade traditional information technology and optimize the existing business environment. Logistics and supply chain are very suitable for the application of blockchain technology. The traditional logistics industry has problems such as long logistics business chain and low efficiency. Relying on blockchain technology, it can truly and reliably record and transfer capital flow, logistics and information flow, optimize resource utilization, compress intermediate links and improve the overall efficiency of the industry.
 
        He said that after the digitization of various industries, the potential of the data will be further tapped, but the confirmation, pricing and transaction of the data are essential links, which are still missing. Therefore, as a capital platform of data elements, blockchain can make data become a resource that is participated by all parties in the market allocation and value distribution. At present, the infrastructure in this respect is not particularly perfect. This is also the logic that data can be integrated into all walks of life, so that they can improve the efficiency and depth of data utilization in all walks of life and promote real transactions. On the issue of domestic data security and privacy protection, Zhou Yanli said that unified legislation on data protection should be accelerated, and the construction of financial technology industry organizations should be promoted. For example, based on its own national conditions, the European Union and some international experiences should be used to build its own development data management system.
 
        He said: "in the design of the system, we need to protect consumers and protect consumers' personal privacy through legal design. On the other hand, we need to have a forward-looking consideration, and we need to have a measure of data protection.". Liu Yunfei added that the factors restricting the application and promotion of blockchain still exist, mainly because financial and insurance companies have formed their own information verification models. It is necessary to break the inherent habits, form a trust mechanism and reach a convention on the chain. It is also necessary for all participants on the chain to further explore the trust mechanism and mature case experience. In addition, the continuous development of "industrial blockchain" requires not only the efforts of technology companies, but also the further promotion of relevant departments from the aspects of standardization, policy and legislation.
 
        
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