Application scenarios are becoming increasingly diversified, and my country is accelerating the development of blockchain technology

my country has the world's largest Internet application market, and the blockchain industry has many favorable conditions to be at the forefront of the world. The diversification of application scenarios has promoted the rapid development of blockchain technology; but at the same time, the speed problem has seriously restricted the blockchain from moving towards multi-scenario applications. Chinese companies need to absorb the world's top scientific and technological resources, establish a Chinese blockchain ecological alliance, and accelerate the pace of technological breakthroughs.

[[203186]]

Recently, CCID (Qingdao) Blockchain Research Institute, jointly established by China Electronics Information Industry Development Research Institute under the Ministry of Industry and Information Technology and Beijing Tiande Technology Co., Ltd., settled in Qingdao. Cai Weide, an expert of my country's Thousand Talents Program and director of the Digital Technology and Blockchain Laboratory of Beihang University, became the chief scientist of the project. He believes that my country's blockchain industry is expected to be at the forefront of the world.

"Blockchain is a distributed database system that is not easily tampered with, difficult to forge, and traceable. Blockchain records all information about transactions. Once the data enters the blockchain, even internal staff will find it difficult to make any changes without being discovered. This feature determines that it is inseparable from Internet applications." Cai Wei De told reporters, "The larger and richer the application scenarios, the faster the development of blockchain technology and industry will be. my country has the world's largest Internet application market, so the blockchain industry has many favorable conditions to be at the forefront of the world."

Currently, blockchain has been applied in many fields. On August 28, the first blockchain e-commerce company in China, Meigou, was launched, which is also the first blockchain e-commerce company in the world. On August 17, the "Baidu·Changan Xinsheng·Tianfeng 2017 1st Asset-backed Special Plan" was approved by the Shanghai Stock Exchange, and Baidu Finance, as its technical service provider, built a blockchain service-side BaaS. Not long ago, Xinmei Love Rescue Account adopted Ant Financial's blockchain technology, using algorithms and technical architecture to solve the trust problem between multiple weak-trust institutions and build a trust mechanism.

Cai Wei-de believes that the diversification of application scenarios is the biggest driving force for the rapid development of blockchain technology. "Traditional blockchain technology is slow. For example, Bitcoin can only make three transactions per second, but the transaction volume of the Shanghai Stock Exchange reaches tens of thousands of transactions per second. If the speed problem cannot be solved, the application of blockchain in multiple scenarios will not be promoted."

The contradiction between strong market demand and technical barriers has prompted many technology companies to speed up their research. In March, Beijing Tiande Technology Co., Ltd. released a new generation of blockchain system, Gaoxin No. 1, which measured an average transaction speed of more than 4,000 transactions per second in a clearing house; its *** system, which is currently being tested, has already processed 3.334 billion transactions per second. From 2008 to 2017, my country's number of patent applications in the field of blockchain technology ranked first in the world, with a total of 550 patent applications submitted, surpassing the second-ranked United States (284 patent applications).

Cai Weide believes that this does not mean that my country has become the world leader in the field of blockchain. To truly be at the forefront of the world, we need to create an open ecosystem, adopt a sharing model, absorb the world's top scientific and technological resources, and reduce unnecessary competition to ensure that my country is at the forefront of the world's blockchain industry.

“In view of this, CCID Blockchain Research Institute will join hands with financial research institutions, the National Big Data (Guizhou) Comprehensive Experimental Zone Blockchain Internet Laboratory, Qingdao Tiande Xinlian Information Technology Co., Ltd. and other units to establish the China Blockchain Ecological Alliance, and will launch three key industry implementation plans for the whole country.”

Cai Wei-de said that the first thing to do is to establish the China Blockchain Sandbox Plan. The plan includes industry sandbox, umbrella sandbox and regulatory sandbox. Among them, the industry sandbox is a self-test and evaluation work by enterprises under the guidance of the industry alliance; the umbrella sandbox is supported by government regulatory departments and authoritative institutions are entrusted to evaluate blockchain; the regulatory sandbox is a blockchain evaluation directly implemented by regulatory agencies after the industry has developed to a certain extent and the regulatory mechanism is mature. "After launching the industry sandbox in the first phase, we will work closely with regulatory agencies to promote the construction of umbrella sandbox and regulatory sandbox."

Cai Wei-de said that the second plan is to establish the Qingdao Blockchain Sandbox Research Center. The center will promote the Chinese Blockchain Sandbox Program and jointly research and expand the Sandbox Program through the government, financial regulatory agencies, universities and research institutions, industrial funds and technology companies. Establish blockchain sandboxes for the Internet of Things, electronic payment, insurance, logistics, medical care, and customs.

"The first plan is to build an open and shared blockchain sandbox testing and monitoring platform. The platform has established my country's first platform prototype that supports blockchain automated processing, and supports blockchain applications such as financial supervision, food and drug traceability, logistics tracking, payment clearing and settlement." Cai Wei De said.