incredible! The central bank governor must strictly control the virtual currency, and Thunder Chen Lei will launch the super blockchain.
The 2018 annual meeting of Boao Forum for Asia was officially held in Boao, Hainan. The theme of this annual conference is “Open and innovative Asia, a prosperous and developing worldâ€. As in previous years, the blockchain sub-forum was established on April 10.
This blockchain sub-forum discussed a number of subjects including blockchain bubble, blockchain and finance, and blockchain applications. Compared with last year, the extremely hot blockchain became the absolute protagonist of this year's sub-forum. .
Due to the extremely high heat of blockchain this year, countries are also very cautious about the blockchain. Domestically, ICO is characterized as illegal financing. Japan, the United States, Europe and other countries have different degrees of blockchain and issuing tokens. limit. Even at present, there is still no international recognition that the virtual currency has the function of legal currency, but only defines it as a digital asset.
At this Boao forum, including the central bank governor Yi Gang, the CEO of Thunder Group Chen Lei, the CEO of Samsung SDS Hong Won-pyo, the former president of Bank of China Li Lihui, the vice chairman of Visa Ellen Richey, etc. on the blockchain, digital currency Expressed his own opinion.
Central Bank Governor Yi Gang said at the sub-forum that China is studying digital currency, blockchain technology and financial technology to explore how to serve the real economy in the best form and to develop these technologies safely to avoid possible Negative impact.
“Overall, our regulation of virtual currency is very strict, and we are also studying how to use the positive energy of digital currency to make it better serve the real economy.â€
In addition, President Yi Gang pointed out that in the next step, the following three principles will be adopted to promote the opening up of the financial industry: first, the principle of national treatment and negative list before admission; second, the opening up of the financial industry and the reform of the exchange rate formation mechanism and capital projects. The exchange process cooperates with each other and advances together; the third is to pay attention to preventing financial risks while opening up, and to match financial supervision capabilities with financial openness.
In fact, at the Third Plenary Session of the Eleventh Central Committee, Zhou Qianchuan, the former central bank governor, said that he did not recognize virtual currency as a payment instrument, and he paid attention to and carefully treated the blockchain. Digital currency must take care of the overall situation and cannot conflict with the current financial order.
At present, at the national level, blockchain technology is more supportive, and cities such as Xiong'an and Hangzhou have also landed related applications and industrial parks, but the restrictions on virtual currency, ICO and virtual currency exchanges are becoming more and more strict. It can also be seen that the government has different attitudes towards virtual currency and blockchain.
Li Lihui, former president of Bank of China and head of the China Internet Finance Association blockchain working group, said at the forum that China has a global market scale and potential, so it is in the forefront of the development and application of emerging technologies such as blockchain.
For the application of blockchain in the financial field, Li Lihui believes that whether it is blockchain or big data, artificial intelligence, cloud computing or even 5G, it is necessary to adhere to two points: First, it must meet the standards of reliability, security and stability. Second, because financial transactions are basically multi-participating, high-frequency transactions. You must meet any large-scale, high-quality trading requirements by applying any new technology, including new technologies in the blockchain, to finance.
In Li Lihui's view, before the end of 2016, domestic blockchain technology did not make breakthroughs in the financial sector, whether it was the underlying technology or the scale application. In 2017, a multi-dimensional delivery structure was established, and in a highly complex financial transaction scenario, zero-distance, zero-day traffic between many parties was realized. In addition, a registration and verification platform for trusted data has been established.
From these trends, the application prospects of blockchain technology to achieve scale in the financial field exist, but we still have to solve many problems, such as reliability, security, external authority certification and so on. The large-scale application of the blockchain in the financial sector will take at least three years.
Visa Vice Chairman Ellen Richey said in a sub-forum that bitcoin is just an asset, not a means of value transfer, but blockchain is a technology that can be used to increase efficiency. For example, transactions against businesses increase its speed, not for retail customers. Because retail customers are complex, scattered, and recorded in different places, they are not very transparent and not fast enough. In addition, the blockchain is used to transfer information faster, while adding more transaction information. Currently, Visa is also piloting the blockchain and is planning to commercialize this year.
Hong Won-pyo, CEO of Samsung SDS, said in his speech that blockchain is a consistent distributed network and a trust-based trading system. These characteristics determine its efficiency in reconciling and processing accounts. Therefore, the future of the blockchain is very attractive.
At present, Samsung has also begun to disclose its layout in the blockchain. It has previously announced the investment of blockchain startup Fliament. As early as three years ago, Samsung began its layout in the blockchain, mainly following IBM's participation in the ADEPT blockchain project or investing in the blockchain sector in the name of its subsidiaries.
The executive vice president of the Central European Lujiazui International Finance Research Institute and the Central Bank Counselor Sheng Songcheng said at the forum that the economic regulation of the world is mainly fiscal policy and monetary policy, and the basis of monetary policy is the state-controlled currency distribution right, which is the legal currency.
If virtual currency is rampant, then monetary policy cannot be enforced. How is the interest rate fixed, how is the exchange rate fixed, and how is the CPI determined? How to regulate the economy is completely impossible. Therefore, for the blockchain, do not combine the virtual currency of the technology application with the currency without a future. In addition, it is best not to apply in the financial aspect.
If you really issue digital currency, your hidden costs and your explicit costs are huge. If you only engage in digital currency between financial institutions, such as banks and non-bank institutions, the efficiency may not be high. If it is promoted to the whole society, it is a subversion of the entire currency. Simply put, the blockchain is a technology, and it is recommended that the blockchain should be applied to areas where money is fragmented and financially marginalized.
In addition to the above-mentioned participants, Sun Chaoshu, Chairman of Inspur Group, also expressed his views on the blockchain during the forum. He believes that the blockchain can solve product quality and solve the problem of product traceability. At present, Inspur has launched the “China Quality Chain†with the help of blockchain technology. From the production link to the circulation link to the inspection and testing, it is necessary to chain up and establish a traceable chain. For example, Gree, Midea, and Ejiao are all on the chain, including test reports, because these things are easy to fake. In this process, the most difficult thing is that the production process cannot be tampered with.
In addition, Chen Lei, CEO of Thunder, also said that the blockchain is a very important opportunity, and China has started at the same time as the Western world. In his view, this is the most important and most important opportunity in the new era. I hope more Chinese companies and entrepreneurs will join the blockchain field.
Chen Lei also said in an interview that Thunder is developing a super blockchain that can accommodate millions of transactions per second and is expected to debut in early May.
The blockchain has been known for less than a year from the beginning, but it has become an opportunity to fish in troubled by the combination of bitcoin and Ethereum. However, the current currency market continues to be sluggish, and the blockchain can be slowly separated from the virtual currency. However, if there is no real product landing during the period, the blockchain may still be unable to pick up the hat of the pseudo-wind.
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