NFTs are cultural digital infrastructure

In May, the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council issued the “Opinions on Promoting the Implementation of the National Cultural Digitization Strategy” (hereinafter referred to as the “Opinions”), and issued a notice, requiring all regions and departments to earnestly implement them in light of their actual conditions. The “Opinions” make it clear that by the end of the “14th Five-Year Plan” period, cultural digital infrastructure and service platforms will be basically built.

BSN and Golden Finance jointly hosted this online interview. The interview focused on “NFT is a cultural digital infrastructure” and invited Zhou Miao, CEO of Chain Square, CEO of Red Date Technology, He Yifan, Executive Director of BSN Development Alliance, and Tagging Founder/CEO Chai Three industry veterans from Geyang discussed in depth the future trend of NFT technology and cultural digitalization.

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The following is an arrangement of opinions , slightly abridged for readability :

What do you think about the ” Opinions on Promoting the Implementation of the National Cultural Digitalization Strategy” issued by the General Office of the CPC Central Committee and the General Office of the State Council and the ” Initiative for Self-discipline Development of the Digital Collection Industry ” jointly initiated by nearly 30 institutions led by the China Cultural Industry Association ? How to understand the concept of cultural digitization?

Chai Geyang:

China is a cultural power. The “Opinions” are understood from the perspective of national strategy and encourages enterprises and users to use the underlying technology of blockchain to develop. From the perspective of the data industry, blockchain technology can better support cultural digitization and realize cultural Industry-related confirmation needs.

He Yifan:
“Opinions on Promoting the Implementation of the National Cultural Digitalization Strategy”, “Initiatives on Preventing Financial Risks Related to NFTs”, and “Initiatives for the Self-discipline Development of the Digital Collection Industry” all have very positive meanings, representing three levels respectively. The “Opinions” are From the perspective of national guidelines, it gives guidance on the development of Chinese cultural digitization. The “Initiative on Preventing Financial Risks Related to NFTs” is a clear explanation of the prohibition of financialization in the digital Tibetan industry. The “Digital Collection Industry Self-discipline Development Initiative” is a joint statement of practitioners in the digital collection industry. The “Initiative” is a manifestation of self-discipline, and the “Opinions” are a guiding document. Although it is not a legislative procedure and is not mandatory, it represents the opinions of the central government. The application of NFT technology is very extensive, and data collection is only one of the application scenarios. Laws and regulations are for application constraints rather than technology. From the “Proposal on Preventing Financial Risks Related to NFTs” issued by the three associations a few days ago, it can be seen that the state is very concerned about NFTs. The practice of technology in the Tibetan industry is also cautious.

Zhou Miao:

The Central Office’s “Opinions” give the overall ecological framework, which is obviously the most important, and is divided into four parts. The first material part, the raw material. The second infrastructure construction, transmission, hardware, software and other technologies and infrastructure are necessary conditions in the process of digitalization. The third participant, under the general trend, practitioners can find out their position in the content segment of the subdivided industry through detailed interpretation, that is, what role participates in which field. The fourth management and incentive mechanism is an important supplement and improvement to the first three, representing a series of rules and standards.

In addition, the nature and relationship of cultural relics, culture, and civilization deserve deep understanding and thinking. The first step in cultural self-confidence should be self-acceptance and self-awareness. To eliminate the chaos in the Tibetan industry, it should be easier to spread and The accepted way will better promote Chinese culture.

What role does blockchain technology play in cultural digitization ? Why will NFTs become the core infrastructure for cultural digitization?

Zhou Miao:
Blockchain technology is “1”, and finance is “0”. Blockchain is a more integrated part of the financial industry above the real industry. Blockchain is a technological means under the application layer. The real economy, digital industry, etc., “blood transfusion” for all industries. From a technical point of view, the digital economy has no application field restrictions. How to better apply technology depends on the user rather than the technology itself. Any technology with universality and versatility will definitely help the efficiency, trust or other aspects of the society. The value of blockchain is relatively reflected in the hidden efficiency. The current world’s most important problem affecting efficiency is the establishment of trust. Assuming that the financial market Without fraud, black box operations, etc., then the financial efficiency will be improved exponentially, and blockchain technology is an effective solution to improve the trust mechanism and trust efficiency. It will have a huge impact on the interaction between people, institutions and countries. .

He Yifan:

The combination of NFT and artworks to form products is more derived from the marketing of “virtual currency”. Although there are some collectors, most users still invest in anticipation of its potential appreciation space. The risk of non-fungible tokens is much higher than that of homogenized tokens. Compared with other industries, the art industry has become a good breakthrough when making non-fungible tokens, because the value of art itself is relatively Fuzzy, when it becomes a substitute for non-fungible tokens, the pricing mechanism is relatively flexible and more acceptable to users.

And NFT technology is great, non-fungible tokens are equivalent to small databases, and can be used in a wide range of applications, such as bills of lading, contracts, concert tickets, DIDs, and more. When users need to share and synchronize on a large scale, if thousands of nodes in the public chain are associated with databases, the cost will be terrible. Therefore, the core value of NFT technology is reflected in the public information system, and NFT is used as a single database to connect with each other, and then Form a huge database that can handle almost all business.

Returning to the perspective of the cultural industry, you should have a deeper understanding of the “Opinions”. It has many connections with blockchain technology and NFT technology, but it is by no means just digital collections. “Opinions” is a cultural perspective from a high perspective. From the perspective of digitalization, how does the cultural digital infrastructure spread Chinese culture? Blockchain technology is a public domain technology that will link the world. If Chinese cultural elements are exported through an underlying global public data infrastructure, what will be the transmission efficiency? For example, if an overseas movie or game needs to use Chinese cultural elements, then it can be easily and freely obtained in the “library” of the infrastructure, and it needs to pay related costs. Then the real cultural output should be more convenient to provide cultural elements to penetrate into the content creation process.

Chai Geyang:

The commonality of Metaverse, NFT, and Web3.0 is that the underlying technology uses the blockchain. The most important core of the underlying technology application of the blockchain lies in the confirmation of assets and the redistribution of production factors. At present, the domestic blockchain is still in its early stage. , the user’s underlying understanding of Web3.0 and blockchain knowledge are relatively shallow. BSN is a very great construction, an underlying blockchain infrastructure network facility and very open, which can provide users with more scenarios to explore the great potential of blockchain technology. 

Zhou Miao:

Compared with other public chains, R3’s Corda is for business services. It adapts according to different specifications, business scenarios, concurrency and requirements. Corda is extremely suitable for financial scenarios. For example, we have implemented ERC721, ERC1155, and even ERC20 on Zunyi Chain. .

Chai Geyang:

Any element in the Metaverse needs to be co-created by users. When users are willing to put their created IP or assets into the Metaverse and ensure the rights through the underlying technology, cultural output can be achieved in the next 5-10 years. The migration of large-scale cultural digital industries to other networks is inseparable from the underlying technology infrastructure network of the blockchain. Therefore, an open platform like BSN is very friendly to those engaged in the application layer.

He Yifan:

Hong Kong’s strategic position is crucial in the process of China’s digital cultural export. Companies in most industries in Hong Kong have a relatively high understanding of IT. They regard Hong Kong as a window for cultural export, technology export and technology integration, so that China’s technology can be better developed. world.

Chai Geyang:

Hong Kong’s financial attributes are relatively advanced from an international perspective and attach great importance to technology. At the same time, it is a strategic location in line with international standards. You can see many overseas projects, excluding negative financial content, from the perspective of application and innovation value. It is worth learning from. For example, the community of overseas NFT projects is a consensus built by users. Even if the project initiator no longer implements it, the IP is a consensus of users, and community users will continue to create and disseminate on the IP. The “Opinions” also encourages the use of modern technology to tell Chinese stories well, so that users in other parts of the world can feel our digital civilization.

Recent progress of BSN- DDC ? And the future development path ?

He Yifan:

The core concept of BSN is to create a public IT system, which corresponds to the back-end IT system where user data is currently stored in institutions. In the public information system, users can build their own data structures and independently control data through encryption technology. The data can be NFT, Digital currency, future digital assets, etc.In this concept, BSN is more similar to a cloud environment. Various chains are equivalent to operating systems integrated in BSN, like the BSN-DDC network composed of more than 10 open alliance chains. The domestic BSN-DDC network serves all industries and is also used in traditional businesses. The recent transaction volume has surpassed the entire transaction volume of Ethereum, and I think it can be twice that of Ethereum next year. Each open consortium chain in the DDC network will evolve from the perspective of its virtual machine, consensus, business processing, etc. The future blockchain is completely another system, creating a real operating system that conforms to the logic of the public IT system and Cloud environment, and it was created in China.

At the same time, we launched the BSN Spartan Network overseas, which is a currencyless public chain serving traditional IT. It will be jointly released in Hong Kong by 10-20 well-known Hong Kong companies, covering real estate, banking, technology, medical care, etc. Other traditional industries, use the currency-free public chain to deal with business needs in the public environment, such as the protection of patient privacy in medical companies. In the future, both the currency-free public chain and the domestic open alliance chain will carry Chinese cultural elements.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/nfts-are-cultural-digital-infrastructure/
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