Academician Chen Chun: the regulatory requirements of blockchain are higher than that of Internet

category:Global
 Academician Chen Chun: the regulatory requirements of blockchain are higher than that of Internet


From last Thursdays collective learning by the Political Bureau of the Central Committee, to Mondays trading of A-share blockchain concept stocks, to a number of industry and academic figures calling for calm thinking On the subway and in the company, you can hear everyone talking about blockchain everywhere.

So, what is blockchain? What changes can it bring to our life? For this new thing, how to carry out supervision?

On the afternoon of October 24, the Political Bureau of the CPC Central Committee conducted the 18th collective learning on the current situation and trend of blockchain technology development. Chen Chun explained the problem and made comments and suggestions.

On October 31, Chen Chun, academician of the Chinese Academy of engineering and director of the blockchain research center of Zhejiang University, and Cai Liang, executive deputy director of the blockchain research center of Zhejiang University and vice president of the school of software of Zhejiang University, were interviewed by the media including surging journalists at the Shao Yifu Science Museum of Zhejiang University, and answered many questions most concerned about blockchain. The following content is organized according to the on-site Q & A.

Chen Chun, academician of Chinese Academy of engineering and director of Zhejiang University blockchain Research Center

What is blockchain? What are the characteristics?

Chen Chun: in fact, blockchain was originally a distributed system accounting method behind bitcoin. It has three operations: public chain, alliance chain and private chain.

The biggest characteristic is a bookkeeping system. The bookkeeping system is distributed, or decentralized, or multi centralized. You need to create a consensus, a system of mutual trust. For example, Zhang San in the village borrowed a hundred yuan from Li Si. He wanted to let everyone know the account. Then he broadcast the whole village through the village radio station. All the villagers heard the broadcast and received the information. After checking point-to-point, they recorded the information in their own account books. In this way, the account books of all villagers read Zhang San lent Li 4100 yuan. All these processes are a bookkeeping system, and blocks are arranged according to the time sequence, and blocks are connected into a chain, which is what we call blockchain. It is connected head to tail in chronological order, traceable, but not tamperable, because they are encrypted. You have to tamper with it. Everyone in the village can verify it. Its called consensus algorithm.

How does the so-called trust come from? That is to say, everyone is fair and transparent, everyone has it, and you cant let everyone tamper with it. This can also explain an idea of blockchain, such as single point initiation, network wide broadcast, cross review and joint bookkeeping. It depends on a series of technologies, including distributed algorithm, consensus algorithm, smart contract, etc.

What role will blockchain play in the Internet industry?

Cai Liang: its just 50 years since Internet technology came into being in 1969. In the past 50 years, the Internet has played a great role in enabling the digital economy industry. Where will the Internet go in the next 50 years?

Many experts and scholars have also talked about that the next Internet is likely to move towards the value Internet, or the way to trust the Internet. Because in the previous 50 years, the Internet has well realized the commercial Internet. Because the core value of blockchain can build a very good trust carrier, and a reliable trust transmission can be realized through blockchain, many people think that blockchain is the cornerstone of the next generation of trust Internet and value Internet.

When the early blockchain industry started, it was actually an application network connected by application software on the traditional Internet. With the expansion of applications, these application networks and application networks will gradually realize cross chain interconnection, so as to connect into a larger network. When the scope of the upper application network, the number of nodes, or the width of applications covered, is large enough to match the scale of the Internet, the two networks will inevitably produce convergence. Therefore, we believe that the blockchain will continue to integrate with the traditional Internet, so as to jointly build the next generation of Internet. This is also the strategic position of blockchain from the perspective of the whole information economy.

The second is that it can transform and upgrade many traditional industries, especially the manufacturing and industry that our country attaches great importance to. It is a very important basic strength to transform and upgrade traditional industries.

Zhejiang University blockchain research group interview

What is the difference between the development of blockchain in China and other countries?

Chen Chun: blockchain technology in western countries is mainly driven by public chain technology, which takes the lead in innovation in the financial field and gradually extends to other industry application fields. In China, blockchain is mainly used to enable economic society, peoples livelihood and social governance. So the current mainstream of blockchain in China is based on alliance chain technology.

In the construction of alliance chain platform, China still has advantages. But we should see that even alliance chain technology, its underlying computer basic theory and research, led by the United States, still has an absolute advantage. Of course, the western countries dominated by the United States also have a great advantage in the research of public chain technology and platform.

The general secretary said that taking blockchain as an important breakthrough for independent innovation of core technology, I think it is very important. My understanding is that blockchain technology includes public chain, alliance chain and private chain. We all need to do research. Especially in universities, we should speed up research, narrow the gap and make breakthroughs.

In the application of blockchain technology, the feature of China is that we need to manage and use it well. First of all, you need to have a well managed mechanism, and alliance chain is particularly suitable.

The general secretary pointed out that we should seize the opportunity of blockchain technology integration, function expansion and industry segmentation, and give full play to the role of blockchain in promoting data sharing, optimizing business processes, reducing operating costs, improving collaboration efficiency, and building a credible system. The general secretarys remarks are very profound and wide in scope. The application of alliance chain industrialization is feasible in China, and it should be ranked first in the world.

What are the applications of blockchain in real life?

Chen Chun: so far, there are several domestic companies that do the bottom alliance chain platform, and there are several in Hangzhou.

However, the research and development of technology and large-scale application scenarios still have very high requirements for the performance or technology of blockchain alliance chain. So my feeling is that we should fully understand the core value of blockchain technology, and actively explore and expand the technology implementation. For our school, we should give full play to the advantages of universities in production, learning and research, and accelerate the application of blockchain technology in finance, peoples livelihood, government affairs, industrial manufacturing and other fields. It is necessary to focus on the analysis of the business pain points that can be solved by the blockchain technology, as well as the use degree under different scenarios, to jointly build a more perfect industrial application ecology, and strive to make the blockchain become a new driving force for the development of the digital economy and an important supporting technology of the social credit system.

Cai Liang: in the field of government affairs, blockchain has a typical value. First of all, for the whole society, blockchain is conducive to the construction of social integrity system. Because the information you published on the blockchain is real name and traceable. I believe that if the government blockchain is to be done, it must be based on the alliance chain. The characteristics of the alliance chain itself will make the construction of the integrity system of the whole society move forward greatly.

For example, blockchain can realize an interesting feature, which we call data immobility and model mobility. We can realize a logical sharing and utilization of data in a decentralized state.

The traditional government construction will rely on the hall of data. We concentrate the data of each department in a data center physically through the way of administrative instructions or setting up administrative departments, and then carry out various convenient services similar to the last run based on this. However, blockchain can achieve that these data do not need to be physically moved in a data center, nor do it need to establish such a centralized data management department. Then it is possible that the data can be distributed in each departments own data center. Behind your own firewall, you can synchronize these operations to each node of the blockchain through the smart contract of the blockchain. Each node provides a local structure according to its own data set, and then the blockchain as a whole forms a final Operation.

Chen Chun: the Ministry of housing and urban rural development and the China Construction Bank have made a provident fund center, linking the provident fund centers of 491 cities in China with a block chain, making it very convenient for every citizen in these 491 cities to handle provident fund.

If you dont use blockchain technology, you can either put all the data together or spread it all over the place.

In the past, most people probably worked in one unit until they retired. Nowadays, young people may be in Hangzhou, Beijing and Shanghai for another year, but it is inconvenient for them to apply for provident fund every time. For example, he used to live in Hangzhou. He wanted to check the accumulation fund in Beijing and Shanghai before. Technically, without blockchain, Hangzhous accumulation fund center would go to Beijing accumulation fund center to transfer data, which is very troublesome. With blockchain, Hangzhous provident fund center can easily and credibly transfer to the provident fund he paid in Beijing a few years ago.

491 provident fund centers are connected to the system, which is even on the chain. Each provident fund center manages its own citizen information system, which is a traditional information system. In this way, data collaboration can be realized by combining up chain and down chain. Of course, in addition to this, there are many roles in finance and other fields. For example, dental insurance, now few insurance companies to protect teeth, because teeth are very troublesome, information can not be shared. For example, someone took an X-ray in Shanghai dentistry, and then went to the clinic in Hangzhou to check and take photos. After doing two similar projects, the insurance company would not provide insurance, because the information was not shared.

For example, planting teeth, from the material of teeth to the production and production of teeth need to go through many processes. From the perspective of logistics and finance, when a dentist treats a patient, the patient can share his own information with the dentist on the blockchain, and at the same time, the dental manufacturer can also receive these information, so his denture can be made quickly, without having to go to the clinic to provide advance payment, sign a contract and so on. Everyone in the chain, time can be greatly shortened.

So with the blockchain, we can now launch new business, which is the breadth of application.

It is very difficult to make loans to small and medium-sized enterprises, not because they have no money, but because they need to provide asset guarantees or stock guarantees, or because there are other enterprises that guarantee them. All guarantees, contracts and coordination need time. Time is efficiency. But if the small and medium-sized enterprises have orders, they can use the orders to mortgage, or there are receivables that have not been received, etc., these information can be seen clearly in the chain, and the bank can judge by itself.

Therefore, the receivables are transformed into digital vouchers on the blockchain, and banks can automatically confirm how much discount to make and whether to directly lend, so the efficiency of SMEs loan processing is improved. Zhejiang Commercial Banks receivables chain platform currently uses blockchain technology, which is understood to save 80% of the audit time and 50% of the cost.

Therefore, the application of blockchain, as long as it involves the features of certificate, trust, collaboration, and tamperability, is OK.

What should blockchain supervision do?

Chen Chun: the general secretary stressed that we should strengthen the guidance and standardization of blockchain technology, strengthen the research and analysis of blockchain security risks, closely follow the development trend and actively explore the development law.

The supervision technology of blockchain is very important,

There is a good saying, without a good and effective supervision, just like there is no traffic light and no guard traffic police on the road, its traffic is not good. Blockchain also has this situation, and the supervision of blockchain is very important.

Public chain, in fact, has become a media of new media. I dont know that you are not clear about Ethernet. All its transactions have accessories. Just like your remittance, the so-called public chain itself has the characteristics of decentralization, tamper proof, undeleted and low cost, so it has the possibility of becoming an information media. However, it is troublesome to put harmful information on the Ethernet. Using blockchain to spread harmful information, network rumors and incite offensive information will bring adverse effects on the industrial layout and development of blockchain technology. Therefore, the public chain will bring great challenges to the regulatory authorities.

Blockchain is a good technology or tool, but it needs to seek advantages and avoid disadvantages. Any good technology or tool needs to be used correctly in order to play its maximum value. This puts forward very high requirements for the supervision of blockchain. Its regulatory requirements should be higher than the original Internet. Because blockchain is more lethal, its application in this industry will be more in-depth. So I think blockchain as an important underlying infrastructure, in the process of its rapid development, we should attach great importance to security issues.

In fact, in 2017, in order to prevent the financial risks caused by the issuance of tokens, the central bank joined six ministries and commissions to have a notice (Note: Announcement on preventing the financing risks of the issuance of tokens, which defines the ICO as an illegal public financing behavior and requires all of them to be banned). Since it is out of this regulation, it must be implemented. The second regulation is that in January this year, the state Internet Information Office issued the regulations on blockchain information service management. From a technical point of view, there are two very important points: the first is the real name system, and the second is the filing system. So I remember that now the state network information office has published two batches of lists, totaling more than 500 enterprise projects.

From a technical point of view, public chain has two cores: anonymity and decentralization. The alliance chain is multi centralized, which is between the two. The supervision may be divided into two parts, one is the technical system, the other is the institutional guarantee. So we will technically strengthen the security assessment of the platform level application of blockchain, improve the compliance and standardization of blockchain technology and application, help to establish and improve the supervision system of blockchain, strengthen the construction of supervision capacity within its management, jointly explore the new supervision model of blockchain, realize the upgrading and efficiency improvement of supervision technology, reduce the supervision cost, and ensure the industrial development and supervision Pipe parallelism. Create conditions for the healthy development of blockchain technology and its application. In addition, there are also some work to be done in this aspect of supervision, such as the tracking and visualization of blockchain nodes, the penetrating supervision of alliance chain, the active discovery and detection technology of technology public chain, as well as the architecture and standards of chain based chain, etc., so only when the technical solutions are provided and relatively reliable, can blockchain be applied in practice Application system. Blockchain supervision is very important. We need to study further. We also hope to provide some solutions for the supervision department to make the blockchain faster and better applied. Source: surging news editor: Han Jiapeng GUI nn9841

From a technical point of view, public chain has two cores: anonymity and decentralization. The alliance chain is multi centralized, which is between the two. The supervision may be divided into two parts, one is the technical system, the other is the institutional guarantee. So we will technically strengthen the security assessment of the platform level application of blockchain, improve the compliance and standardization of blockchain technology and application, help to establish and improve the supervision system of blockchain, strengthen the construction of supervision capacity within its management, jointly explore the new supervision model of blockchain, realize the upgrading and efficiency improvement of supervision technology, reduce the supervision cost, and ensure the industrial development and supervision Pipe parallelism. Create conditions for the healthy development of blockchain technology and its application.

In addition, there are also some work to be done in this aspect of supervision, such as the tracking and visualization of blockchain nodes, the penetrating supervision of alliance chain, the active discovery and detection technology of technology public chain, as well as the architecture and standards of chain based chain, etc., so only when the technical solutions are provided and relatively reliable, can blockchain be applied in practice Application system. Blockchain supervision is very important. We need to study further. We also hope to provide some solutions for the supervision department to make the blockchain faster and better applied.