Xiao Feng and Jiang Guofei have a dialogue on the same stage: use blockchain as a digital economy "road builder"

In the field of science and technology, blockchain is like a wave, sweeping the entire business world and becoming a new trend driving industrial transformation. Blockchain technology is an important tool for human society to migrate to the digital world, and has promoted subversive model changes in government affairs and people's livelihood, smart finance, and business ecology. It is foreseeable that a more efficient, credible, and warm digital world is coming.

In the third episode of "Looking for the Power of Blockchain" jointly produced by Ant Chain and Luo Han Tang, Xiao Feng, Vice Chairman and Executive Director of China Wanxiang Holdings Co., Ltd., and Jiang Guofei, Vice President of Ant Group, had a dialogue on the same stage to discuss how the blockchain can be used from one to the next. A mysterious technology has developed into a new trend in the industry.

How does blockchain change from a mysterious IT technology to a new fashion?

Xiao Feng: Blockchain technology has unlimited prospects, but this prospect has not been fully developed at present. Everyone wants to see what blockchain can do as soon as possible. This is a very important reason. Second, it is related to the development trend of the country. China's economy is undergoing transformation. Internet companies, including Ali, have pushed the size, quality, and level of the entire Chinese economy to the forefront of the world. Among them, the blockchain may become one of the new drivers of development. A root cause of great concern to society.

Today in History丨Xiao Feng: Alibaba and Tencent-level companies can be produced in the blockchain field: On November 5, 2019, Xiao Feng, chairman of Wanxiang Blockchain Co., Ltd., said in an interview with The Paper that in the Internet age, the global The top 20 Internet companies are basically concentrated in the United States or China. It can be said that in the Internet age, China is in a leading position in the world, including Internet payment. In 2011 and 2012, artificial intelligence began to develop. China's current position in the field of artificial intelligence in the world may be even more advanced than the Internet. This is also encouraged by the government. Some independent AI companies now grew up after the government strongly supported and encouraged artificial intelligence technology. For example, software companies such as SenseTime and Face++, and hardware companies such as Hikvision and Dahua, etc. The reason why these companies have been able to grow and develop in the past few years is inseparable from the strong support of the government. Blockchain technology emerged. As China's top decision-makers, they must have seen more things than us, and they will be more keen to capture such an opportunity. Now that the Internet and AI have gained an increasingly favorable competitive position around the world with the encouragement and support of the government, why can't the blockchain follow the same path? For so long, everyone has been convinced that the blockchain is a revolution in production relations, which is actually very similar to the Internet. Based on the blockchain-based distributed ledger value transmission protocol, we can also make companies at the level of Alibaba and Tencent based on information transmission protocols in the Internet era. [2020/11/5 11:45:23]

Jiang Guofei: Last year, blockchain was listed as a national development strategy. Blockchain is a technology that changes production relations. From this perspective, it has great potential and room for imagination. This is one of the reasons why blockchain will become a "fashion".

On-site | Xiao Feng, Chairman of Wanxiang Blockchain: By the end of 2020, the overall framework of the blockchain has been built: Jinse Finance live report, on October 27, the 6th Global Blockchain Summit opened in Shanghai, and tens of thousands of people participated in the summit Xiao Feng, the chairman of the blockchain, said that by the end of 2020, the overall framework of the blockchain has been built, which is very similar to the confirmation of the TCP/IP protocol by the Internet. It is foreseeable that the application will explode. The layers of the entire blockchain application are network, database, storage, computing, ledger, governance, application, and business. From top to bottom is from the Internet to the blockchain, from bottom to top is from the blockchain to the Internet, and the distributed ledger is the dividing line between the two. [2020/10/27]

What changes have been made in the perception of blockchain?

Jiang Guofei: AntChain started with blocks and links industries. The blockchain itself is an IT technology, but the impact of the blockchain is definitely not an IT technology, and its core competence is in the industry. Nowadays, all walks of life are being digitalized and capitalized, and the blockchain can link many industries together, just like "building roads" in the digital economy. To put it vividly, like two villages, apples from the east can be sold to the west, and oranges from the west can be sold to the east. After the "road" is repaired, the industry will prosper. In the era of digital economy, the number of chains is a sign of economic development. In the exploration of blockchain applications, my personal perception of blockchain has undergone great changes, such as from a technical perspective to a product perspective and a business perspective.  

Voice | Wanxiang Xiaofeng: Token design is the key to the success of blockchain projects: According to Babbitt, on December 8, the CCF Pujiang Lecture Hall "Blockchain and Digital Finance" forum was held in Shanghai. Xiao Feng, vice chairman of China Wanxiang Holdings, said in a speech titled "Token and Digital Assets" that Tokens in different fields have different functions. Tokens in online games have functions such as use, settlement, and economic incentives. Blockchain The Token in the token should also be added with functions such as payment, financing, backflow and investment. Token is security (securities), but not stock (stock), because stock is to securitize ownership, bond is to securitize income rights, Token is to securitize use rights, and the securitization market for use rights will be larger than the former two ( ownership and usufruct). He also pointed out that the core value of Token is the incentive mechanism, the secondary value is the governance mechanism, followed by the hot start of the market and financing tools, and the investment value lies in the infinite scalability of the system. Token design is the key to the success of blockchain projects. [2018/12/8]

Xiao Feng: For a long time, blockchain as a value Internet can be used to reorganize production relations, and this has not changed. The change is that at the beginning we only focused on the blockchain, but now we find that the blockchain alone may not be enough, and a group of digital technologies are needed to jointly integrate and innovate. This innovation may be to reorganize production relations, improve efficiency, reduce costs, or improve service experience. Blockchain needs to be well combined with AI, cloud computing and other technologies in order to truly exert its maximum value. This is an integrated innovation of a series of technologies. The chain is a foundation, but it cannot be relied on alone.

Voice | Xiao Feng, chairman of Wanxiang: A decentralized distributed AI platform may appear within three to five years: At the 2018 World Artificial Intelligence Summit, Xiao Feng, vice chairman and executive director of China Wanxiang Holdings Co., Ltd., said that the area Block chain plus encryption algorithm is a perfect match. The Internet is an "information machine", and the blockchain is a "fact machine". Their combination will meet AI's demand for data, data privacy will be protected, data assets will be confirmed, data sharing will be encouraged, data computing will be open, and data governance will be orderly. In the next three to five years, a decentralized distributed AI platform may emerge. [2018/10/3]

How will blockchain develop in the next 3 to 5 years?

Xiao Feng: I believe that in the next 3 to 5 years, new species will emerge, which we call distributed commerce. Blockchain is not everything. In many scenarios, a centralized approach can do a good job. Centralization has its high efficiency, but some things cannot be achieved in a centralized way. For example, if two strangers want to establish a trust relationship, it needs other technical means to assist, otherwise the establishment of this trust relationship will be very expensive . At this time, the blockchain can greatly reduce one of the transaction costs, the trust cost, to a commercially feasible level, so distributed commerce appears. Now everyone divides the platform economy into three categories. The earliest GE in the industrial revolution was a unilateral platform. You try to standardize and sell products on a large scale to as many customers as possible. This is a product. The second category is the two-sided platform. The two-sided platform can be easily solved by using the Internet, and there is almost no need to use the blockchain. For example, the e-commerce platform is a proof. There is a centralized organization as the trust intermediary of both parties. The goods and demand can be completed on this platform. Facts have proved that this is already a very good business. The third category is multilateral platforms. Some institutions that are not very familiar with it, but have already established a trust relationship or have done a credit evaluation, may join it. At this time, using a distributed method and using a blockchain to run such a multilateral platform will be more suitable from the perspective of transaction costs. In the future, I think these distributed businesses will grow on it.    

Jiang Guofei: First, from a technical perspective, with more research and development and breakthroughs in technical performance, some of the current challenges can be better resolved. It can be predicted that larger local area networks will appear in the next 3-5 years, and cross-chain technology can help smaller local area networks grow into larger local area networks.

Second, from an industry perspective, on-chain will become a norm. The blockchain will be better integrated into the lives of ordinary people, such as copyright protection, contract signing, etc. Not long ago, Ant Group and the Hangzhou Municipal Government launched a blockchain electronic seal to prevent the occurrence of radish seals. In the future, the blockchain will definitely involve more people's lives. Third, the most anticipated is the emergence of new species. Nowadays, in many cases, it is the blockchainization of a certain industry, not a certain industry of the blockchain. Based on the basic principles of blockchain technology, the relationship between all parties involved in the industry will be leveled, which is a brand new species. We are looking forward to the more distributed and wider impact of the blockchain, and we are also spending time thinking about how to try to tap these new forms of innovation. In the next 3 to 5 years, blockchain technology will be more disruptive.

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