Xu Mingxing: Blockchain technology will usher in a "tide of applications", which can be divided into instrumental and disruptive applications
In June of this year, Beijing issued "Several Opinions on Accelerating the Cultivation and Growth of New Business Models and New Models to Promote the High-quality Development of Beijing's Economy", in which blockchain was mentioned 24 times as a key area of national concern. It is not difficult to see that blockchain technology is a sunrise area that the country is currently focusing on development. Under the background of new infrastructure, it is not difficult to guess that blockchain resources will be quickly integrated, ushering in a new wave of landing applications.
So what exactly is blockchain? How far is this technology now? Where will the future go? Previously, Xu Mingxing, the founder, chairman and CEO of OKC Group, and the founding chairman of the China Blockchain Application Research Center, gave an "answer" in his speech "The Present and Future of Blockchain Technology".
Xu Mingxing said that one of its core features is decentralization, or point-to-point database. In the past, the database was managed and operated by a certain center. The blockchain database is composed of a large number of nodes on the Internet. It is A database built on the modern Internet, this decentralized network is not actually for efficiency, because the loan cost transmission speed of the Internet today is already very strong, and we no longer care about the efficiency of Internet transmission, but to build this point-to-point The advantage of the network is that the entire network application will not be affected after a certain block fails, and even after one-third of the nodes fail, the storage of the transmission data of the entire network will not have any impact, so the blockchain is a network built on A database that stores a full amount of data on the peer-to-peer network, nothing more.
In addition, Mr. Xu Mingxing pointed out that there are many misunderstandings about the concept of blockchain. For example, it is rumored that the existence of Bitcoin is to subvert legal currency, but it is not. It is just a commodity that has a consensus within a certain range among a certain group of people. It is no different from the game equipment and virtual point cards we are familiar with, but its power lies in the fact that it has found audiences around the world with the help of blockchain.
Decentralization itself is a very neutral word in English, but the blockchain network has a powerful center, which is the designer of this rule. His de-intermediation is to remove the link from the designer to the executor, so that the intermediate loss in the traditional process is minimized. If it is used to implement some national policies, it will be invincible.
How to apply the blockchain? Mr. Xu Mingxing believes that it can be divided into instrumental applications and subversive applications.
For instrumental applications, it can be compared to the Internet, which has become a tool in our daily life. The emergence of the blockchain also has many applications, such as judicial recognition of evidence on the blockchain, future education certificate certification, etc. Under this application, people living in it cannot perceive that it is a blockchain, but it Behind it is the blockchain.
In addition, there are many subversive applications of blockchain, Bitcoin is the first one, and Facebook's Libra last year. Globally, there will be more and more such subversive applications. Digital assets, small remittances, the use of blockchain to elect presidents, financial audits, and compliance blockchains will all be very suitable.
Government supervision in the blockchain has yet to be improved. Some people worry about whether a decentralized system will be out of supervision. In fact, no, as long as the blockchain-based stable currency is used, the regulatory agency requires the stable currency service provider to provide a super key. Although it is peer-to-peer, mathematicians can also control it in various ways. In addition, the real-name system on the blockchain, anti-quantization security calculations, etc. that the Okey Cloud Chain has been working on are actually using technology to solve future regulatory issues.
