On October 24th, at the 18th collective study in the Political Bureau of the Communist Party of China (CPC) Central Committee, General Secretary of the Supreme Leader emphasized: "The integrated application of blockchain technology plays an important role in new technological innovation and industrial transformation. We must take blockchain as an important breakthrough for independent innovation of core technologies, clarify the main direction, increase investment, focus on overcoming a number of key core technologies, and accelerate the development of blockchain technology and industrial innovation. " The foresight and high attention of the highest level have made the "blockchain" enter the public’s field of vision and become the focus of attention and hot discussion from all walks of life.
Overall information reporting trend (Source: Zhongyun Big Data Platform)
Since the 24th, when General Secretary of the Supreme Leader emphasized the blockchain technology in the 18th collective study in the Political Bureau of the Communist Party of China (CPC) Central Committee, the topic of "blockchain" has been rapidly fermented. On the 28th, the stock market saw the daily limit of "blockchain" concept stocks, and the topic of "blockchain" triggered a heated discussion among the whole people, and the popularity of related topics quickly reached its peak. Since then, the heat of related topics has cooled down.
Media focus
According to the monitoring results of "Zhongyun Big Data Platform", People’s Daily Online Public Opinion Data Center found that the key words concerned by the media mainly include blockchain, blockchain technology, market and company.
Media pays attention to the word cloud (Source: Zhongyun Big Data Platform)
The blockchain industry form is taking shape.
Wechat WeChat official account "Spicy Finance" posted that some experts said that the blockchain technology has been developed for about 10 years, and the relatively large-scale application is in the financial field represented by cryptocurrency. In fact, the blockchain can be used in many scenarios, including finance, logistics, education, employment, medical health, food safety, social assistance and other fields. Taking the financial field as an example, there are many concepts related to blockchain finance, such as blockchain payment and settlement, virtual digital currency, digital currency trading platform, bitcoin and so on.
At present, some areas in China have tried to apply blockchain technology in multiple scenarios. People’s Daily reported that a large number of government affairs systems in xiong’an new area, Hebei Province were based on blockchain technology, Shanghai started to build a blockchain technology innovation and industrialization base in 2018, and Hangzhou Internet Court issued a smart contract judicial application based on judicial blockchain technology.
Domestic Internet companies are also widely involved in the application of blockchain technology. China discipline inspection and supervision newspaper pays attention to "Alibaba pays attention to product traceability, cross-border settlement and other fields, Tencent focuses on the application of electronic invoices and other financial fields, and JD.COM focuses on transparent supply chain system to crack down on counterfeit and shoddy products". The observation network issued a document saying that in August 2018, Shenzhen Taxation Bureau and Tencent jointly issued the country’s first blockchain invoice. After a year, blockchain invoices have covered more than 100 industries, with more than 5,300 access enterprises, and accumulated invoices have exceeded 8 million.
It is worth mentioning that WeChat WeChat official account’s "Media Tea Party" issued a document saying that while doing a good job in guiding public opinion, People’s Daily also focused on the dynamic development of blockchain. It is understood that People’s Daily has launched the "People’s Copyright" blockchain to protect the intellectual property rights of digital works.
China’s blockchain industry continues to grow at a high speed, and the competition will be fierce in the future. Guangming Daily reported, "According to the statistics of the Chinese Institute of Electronics, the scale of China’s blockchain industry was 2.1 billion US dollars in 2017 and 2.9 billion US dollars in 2018. It is expected to reach about 4.2 billion US dollars in 2019, with an average annual growth rate of over 65% from 2013 to 2019." With the increasing demand for blockchain application and transformation in the fields of digital bills, asset custody, logistics and shipping, food and drug safety traceability, and digital content copyright, many blockchain solution providers will launch fierce competition.
Blockchain technology needs to be continuously improved.
Blockchain technology is considered as the next generation subversive core technology after steam engine, electric power and Internet. Guangming Daily reported that Ling Xia, deputy director of the Digital Economy Research Office of the Chinese Institute of Electronics, said that the concept of "blockchain" was put forward as early as 2008. As a new application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies, blockchain has the characteristics of disintermediation, good traceability and difficult tampering.
The technical framework of blockchain itself is still not mature enough and needs to be continuously improved. Wechat WeChat official account’s People’s Daily Commentary pointed out that the blockchain is still in the early stage of development, and it needs to be further developed and improved in terms of safety, standards and supervision. Li Xiang, director of the Research and Consulting Center of the Chinese Institute of Electronics and secretary general of the blockchain branch, pointed out in the article "Opportunities and Challenges of Blockchain Innovation and Development" that the blockchain was born only nine years ago. Compared with most technologies, it is still in the "infant" stage, and there are practical problems such as weak scalability, low efficiency, high handling fee and unreasonable economic model design, which can not well meet the large-scale commercialization of multi-domain distributed applications (DAPP). At the same time, due to key technologies such as private key encryption, smart contract, fragmentation, cross-chain and side chain, consensus mechanisms such as DAG and DPOS and economic incentive models are still in the trial or trial stage, and there are still loopholes in procedures and codes in blockchain.
Call for rational investment to avoid potential risks
Industry insiders call for a rational view of the investment phenomenon related to the "blockchain". China securities journal reported that Sun Tianqi, chief accountant of the State Administration of Foreign Exchange, suggested: First, don’t speculate on the concept of blockchain; Second, illegal financial activities cannot be carried out in the cloak of blockchain; Third, in order to truly gain market space, blockchain technology must find its own market from the pain point of current economy and finance and from the process of serving the real economy.
In the program of CCTV Financial Review on October 26th, Ma Guangyuan, a financial commentator, and Liu Xiaolei, director of Guanghua School of Management of Peking University, said that the application of blockchain is not speculation. This time, the signal conveyed by the Politburo is that it hopes to support the real economy through blockchain technology, rather than short-term speculation. On this cusp, we should be more alert to enterprises and individuals who violate the law and regulations under the guise of blockchain. The Beijing News reported that people in the industry have said that blockchain and currency circle cannot be equated, and we should be more alert to the financing and currency speculation activities of pyramid schemes and frauds in the name of blockchain in recent years.
Investors suggest that investors rationally look at the phenomenon of the recent stagnation of blockchain concept stocks. Yu Rui, chief analyst of Chain Tower Think Tank, told Securities Daily that in the face of important positive news, the stock market surge is a normal performance of the market, which also reflects that investors have a high degree of recognition of blockchain-related concepts and are confident in the future development of the industry. However, it should be pointed out that at present, not all enterprises in the blockchain sector have actual blockchain business and revenue, and they will not be reflected in their performance in the short term. Investors should treat it rationally and pay more attention to the long-term healthy development of the blockchain field.
Promoting the healthy development of blockchain needs more efforts.
While developing blockchain technology, we should also pay attention to the potential risks it may cause and strengthen normative guidance. China securities journal reported that analysts have suggested that new technology is a "double-edged sword", which brings about changes, but at the same time, possible risks can not be ignored. It is necessary to be alert to the security loopholes of new technologies and strengthen the guidance and standardization of new technologies. Among them, Professor Cai Liang, executive deputy director of the Blockchain Research Center of Zhejiang University, said in an interview with Xinhuanet, "How to solve the efficiency and security problems of the alliance blockchain, how to solve the problem of data collaboration between the chain and the chain, and how to solve the supervision of the blockchain is an important direction for future development."
In view of the legal gaps in the application of blockchain, Song Mofei, a special researcher at Suning Financial Research Institute, said in an interview with The Beijing News that the technical characteristics of blockchain need corresponding regulatory measures. At present, the state has not issued special laws and regulations on this, and there is also a lack of laws to clarify the legal status and corresponding problems of blockchain. For example, once a smart contract reaches the blockchain, where is the arbitration right, and whether the implementation of the whole contract has the same legal effect as a paper contract. These also need to be solved by the government’s policies and regulations.
How to treat the relationship between the development of blockchain and risk prevention? Ye Zhenzhen, Party Secretary, Chairman and President of People’s Daily Online, pointed out in the article "Reading Blockchain Today and Tomorrow from Three Perspectives" that "the development of information technology frontiers such as blockchain is closely related to the future international competition pattern. If we don’t develop blockchain, we may fall into the danger of long-term backwardness. Therefore, the establishment of the supervision system must respect the law of technological development, focus on the world and future competition, and organically combine risk prevention with development promotion. "
Call on relevant departments to actively accept the blockchain and clarify that "the blockchain is not used for speculation". The Beijing News Network commented that without rules, it is not a Fiona Fang. The administrative and judicial departments should actively embrace the blockchain, transform and even reshape the e-government system through the mechanism design idea of the blockchain, so that the public power decision-making and execution process can be traced back and cannot be tampered with. At the same time, we will increase the protection of the market and social order, establish a public order and good law environment for blockchain "no speculation", and purify the impetuousness of the market.
People in the industry call for paying attention to the research and application of basic technology theory, ecological cultivation and improving infrastructure. The People’s Daily article "Blockchain, how much do you know (new economic orientation)" said that on the one hand, it is necessary to strengthen the research on relevant basic technology theories, such as consensus algorithms related to blockchain performance and security, and zero-knowledge proof related to data privacy. Cryptographic algorithms; On the other hand, it is necessary to speed up the construction of basic supporting facilities, such as blockchain industry public network and distributed digital identity system.
Guangming Daily reported that Li Xiang, director of the Research and Consulting Center of the Chinese Institute of Electronics and secretary-general of the blockchain branch, said that to promote the development of blockchain and economic and social integration, we should strengthen basic theory and technology research, focus on supporting the research and development of key technologies such as blockchain storage, encryption, consensus and cross-chain, and strive to promote interdisciplinary common basic research and interdisciplinary application research of related blockchain technology. In addition, we must attach great importance to the cultivation of technological ecology, integrate the resource advantages of the government, universities, enterprises and industry organizations, and build and improve the blockchain innovation ecology. Accelerate the integration and development of 5G and blockchain, give full play to the characteristics of low latency, high speed and low cost of 5G, and improve the efficiency of blockchain system.
Public opinion comment
Recently, the topic of "blockchain" has continued to arouse heated discussion among the whole people, boosting the popularity of public opinion and forming a "phenomenal" public opinion topic. In fact, as early as many years ago, the topic of "blockchain" has attracted attention many times. At that time, the research and application of blockchain had just started, and the related technical safety and risks were uncertain, and the related discussion was professional, and the discussion heat and scope were restricted to some extent. At the same time, in the past, there were many chaos such as speculation on "virtual currency", which left some negative impressions on public opinion, such as many problems and great risks. Subject to the above multiple factors, the discussion on related topics has not yet formed a strong public opinion momentum. However, after the General Secretary of the Supreme Leader delivered an important speech on the development status and trend of blockchain technology, the development and application of blockchain technology is gradually gaining popularity. In particular, the application results of some blockchain technologies have attracted much attention from public opinion, which has created a positive public opinion ecology for the next promotion and application of blockchain technology.
Han Chao, a public opinion analyst at People’s Daily Public Opinion Data Center, believes that there are two tendencies worthy of attention in the discussion of netizens. First, in terms of investment concept, some netizens are blindly optimistic and have high expectations for the development prospects of blockchain technology, so that they ignore the potential risks, equate "blockchain" with "bitcoin", blindly follow the trend to invest in "virtual currency", or speculate on blockchain concept stocks. Second, in terms of technical risks, some netizens pay one-sided attention to technical risks, stir up the negative impact of the chaos of "virtual currency" in the past, ignore the positive significance of technological innovation, and even mistakenly believe that the high transparency of information on the blockchain will not protect personal privacy. Of course, some netizens expressed their expectations for the application advantages and risks of popular interpretation and publicity blockchain technology. The above situation reflects that there is still room for the promotion and guidance of blockchain technology. On the one hand, some popular science propaganda is professional and in-depth, which needs to be further popularized and popularized to facilitate the audience’s understanding. On the other hand, some misconceptions of netizens need to be cleared up in time to avoid the continuous spread of irrational views. In addition, it is necessary to actively spread financial management concepts such as "investment is risky" to the public to help individual investors improve their risk identification and prevention capabilities.
Treating the problems in the development of blockchain should be like caring for newborns. It is necessary to avoid pampering and make them grow wildly, but also to overcome malnutrition and help them grow healthily. I believe that with the concerted efforts of the government, enterprises, academic circles, media and even all walks of life, and with the efforts of Qi Xin, the "winding" will "fly into the homes of ordinary people" just like surfing the Internet in the near future. (People’s Daily Public Opinion Data Center public opinion analyst Han Chao intern Wang Juan, Zhang Shuai finishing)