How Far Is Blockchain From Us To Become A National Strategy?

The release of a major policy benefit makes the chain of blocks once again become a hot topic.

According to Xinhua News Agency reported on October 25th, the CPC Central Committee Political Bureau on October 24th afternoon on the block chain technology development status and trends for the eighteenth collective learning. Collective learning emphasizes that the integrated application of block chaining technology plays an important role in new technological innovation and industrial transformation. We should regard the block chain as an important breakthrough in the core technology of independent innovation, clear the main direction of attack, increase investment, focus on tackling a number of key core technologies, and accelerate the development of block chain technology and industry innovation.

Many experts and people in the industry said to the first finance group that China is taking the runway in the development of block chain technology. Chinese enterprises increasingly emphasize the control of the core "hard technology". From the perspective of government policy guidance, they also encourage enterprises to carry out independent innovation of core technology of block chain. The number of patent applications in China's block chain has ranked first in the world. Block chaining technology will have wider application prospects in many fields, such as finance, livelihood and administration.

At the same time, the development of block chain is not speculation. Not only have all kinds of ICO activities been banned by the central bank, but also through the issuance of the two batch of block chain information service record lists, the national network office has screened and excluded the enterprises.

Why is it a national strategy?

The block chain is essentially a decentralized accounting database, which is itself a block of data generated by cryptography. Each block contains information that can be effectively recognized by many transactions.

Centralization of distributed storage brings openness and transparency, and makes data directly generate value; information can not be tampered with, traceability brings security and honesty, and also makes people more trustworthy. Block chain is considered to be another big wave after the Internet, which will bring great change opportunities to all walks of life as an infrastructure.

At present, the major countries in the world are speeding up the development of layout block chain technology. The above speech stressed the need to strengthen basic research, enhance the original innovation capability, and strive to make our country take the forefront of theory in the emerging field of block chain, occupy the commanding heights of innovation and gain new industrial advantages. "The most advanced", "commanding point" and "new advantages", the three words undoubtedly indicate China's goal in the field of block chain competition.

Yao Bohai, founder of Bo Wang, said that the technology and industry of block chain in the world are at an early stage of rapid development. No country has absolute advantage. This is the important opportunity for China to achieve "bend overtaking" in the field of science and technology.

Chen Chun, a professor at Zhejiang University and a member of the Chinese Academy of engineering, who is explaining the collective learning of the Central Political Bureau, said at the 2019CCF block chain technical conference sponsored by the China Computer Society in October 12th that the development of the domestic block chain industry is ushering in the "spring breeze". The research hotspots of chain technology in China will focus on the two key technologies of the alliance block chain and the chain chain regulation technology.

The number of patent applications in China's block chain is No. 1 in the world.

Our country has a good foundation in the area of block chain. With the support of previous policies, block chain technology and industry have developed rapidly, and have begun to merge with all walks of life.

The State Council issued the "13th Five-Year National Informatization Plan" in 2016, and classified the block chain technology as a strategic frontier technology. In June 2018, the Ministry of industry and Commerce issued the action plan for industrial Internet development (2018-2020 years), and encouraged the application and research of new frontier technologies such as block chain in the industrial Internet.

China's number of patent applications in block chain technology ranks first in the world in recent years. At the end of last year, the China Financial Certification Center (CFCA) released the "2018 China e-banking survey report", which shows that more than half of the world's existing patent applications related to the block chain are from China. By the end of 2017, the number of patent applications exceeded 1200, and exceeded the United States and became the number one.

At present, the top three Internet giants Alibaba, Tencent and Baidu are trying to block regional chain technology and related basic technology development, such as Baidu super chain platform, ant block chain BaaS platform, Tencent cloud TBaaS block chain service platform and so on.

China Ping An, Wanxiang holdings, Hang Seng electronics and many other A share listed companies have extensive layout in the field of finance, energy, logistics, transportation, trade, copyright and other block chain applications.

Central enterprises are also involved in the area of block chain, and actively cooperate with Internet companies. For example, in October 27th, the State Grid announced that the wholly owned subsidiary of the national network block chain technology (Beijing) Co., Ltd. has been formally established, will be highly compatible with its ubiquitous construction of the power Internet of things, and promote mutual trust between upstream and downstream industries, achieve efficient data sharing and enhance risk prevention capabilities.

Block chaining technology is also applied to government services. By realizing the sharing of identity information data, it will save a lot of time to repeat personal information, and business processing will be more convenient.

Take Zhejiang Province as an example, the province is deepening the reform of "running at most". Jiang Ruzhong, deputy director of Zhejiang Provincial Bureau of big data, told the first financial reporter: "we need to explore the use of block chain data sharing mode to achieve cross sectoral and cross regional government data maintenance and utilization, promote collaborative business management, and bring better government service experience to the people."

"The future value of block chain in education, employment, pension, precision poverty alleviation, medical health, commodity anti-counterfeiting, food safety, public welfare and social assistance will gradually emerge," said Lu Yang, founder of chain chain company of Shanghai block chain, CEO.

Finance is the main application area at present.

Block chain is currently the most important application scenario in the financial field. In 2018, the share of the global block chain market was the largest, accounting for 60.5%.

At present, a number of banks including China, agriculture, industry and construction have applied block chaining technology to such fields as poverty alleviation fund management, cross-border and cross line, letter of credit, supply chain finance and so on.

Hengda Research Institute Ren Zeping believes that the four representative application scenarios such as cross border payment, Global trade logistics, supply chain finance and credit reference are analyzed. The block chain can integrate real logistics, data flow, information flow and capital flow, simplify transaction processes such as verification, reconciliation, approval and liquidation, so as to enhance efficiency and reduce costs. In some scenes, block chains can also help to achieve data rights and facilitate information sharing.

In addition to the above areas of practice, another important area of block chain is the central bank's digital currency.

Mu Changchun, deputy director of the central bank's settlement division, said at the third China Financial forty person forum in Yichun in August 10th that the "double deck operation system" will be a major feature of DC/EP (digital money / electronic payment). It means that the central bank first convertibility of digital money to banks or other operational machinery and then to these public institutions. In order to ensure that the central bank does not exceed the digital money, commercial institutions need to pay the reserve amount to the central bank in full and 100%. The central bank's digital money is still central bank's liabilities, which is guaranteed by the central bank's credit guarantee and has unlimited legal compensation. It can also improve the enthusiasm of commercial organizations and benefit the acceptance of digital money.

IMF, director of the monetary and Capital Markets Department of the International Monetary Fund, Tobias, said China is likely to become the first country to issue digital money in central banks.

Preventing speculation risks

The latest favorable policies have also made the market a carnival.

Last Friday evening, after the opening of the US stock market, the thunder jumped 107.8%, and many stocks were also "ready to move". Bitcoin breaks through the $10 thousand mark.

However, experts remind that block chain technology is still in the initial stage of development, and the application of practice is still in the test stage. Investors should be alert to the risk of excessive speculation.

At the same time, the development of block chain is not speculation money. In September 4, 2017, seven ministries and commissions issued the notice on guarding against the risk of issuing money, and ICO was identified as "illegal public financing" and was stopped. At that time, Sun Guofeng, director of the central bank financial research institute, said: "the block chain itself is a good technology, and we must distinguish the block chain technology from the ICO."

Regulation is also phasing out the fry businesses through the list of records. In October of this year, the national network office issued the second batch of block chain information service registration list, which contained 309 domestic chain information service names and record numbers, and the block chain information service providers should indicate their record numbers in the prominent locations such as the Internet websites, application programs and other services provided to them.

Zhang Junxian, a Chinese partner in PWC, told the first financial reporter: "companies and projects that are in charge of the chain of chains will face great enforcement efforts if they are still collecting money by raising money in the same way as before. Now through the filing and on-site verification, etc., it has been able to distinguish the enterprises using the block chain to make the real economy stronger and stronger, and at the same time exclude the enterprises that stir the money.