People’s Daily Overseas Edition: Blockchain development ushers in new opportunities

Hainan Free Trade Port Eco-Software Park is one of the 11 key parks in Hainan Free Trade Port, which is located in “one area and three industries” in the direction of industrial segmentation: blockchain pilot area, digital culture and sports, digital health and digital finance.

People's Daily Overseas Edition: Blockchain development ushers in new opportunities

Hainan Free Trade Port Eco-Software Park is one of the 11 key parks in Hainan Free Trade Port, and the park is located in “one zone and three industries” in the direction of industry segmentation: blockchain pilot zone, digital culture and sports, digital health, and digital finance. By the end of April 2021, the number of enterprises in the park reached 9,206. The picture shows the park of Hainan Free Trade Port Eco-Software Park.
Xinhua News Agency reporter Yang Guangyu photo

Recently, the Ministry of Industry and Information Technology and the Office of the Central Committee for Network Security and Informatization jointly issued the “Guidance on Accelerating the Application and Industrial Development of Blockchain Technology” (hereinafter referred to as “Guidance”). The Guiding Opinions clarify that by 2025, the comprehensive strength of the blockchain industry will reach the world’s advanced level and the industry will take shape. Blockchain applications penetrate into many fields of economy and society, cultivate a number of well-known products in such fields as product traceability, data circulation and supply chain management, and form scenario-based demonstration applications.

The relevant person in charge of the Information Technology Development Department of the Ministry of Industry and Information Technology said that during the “14th Five-Year Plan” period, with the deepening of the global digitalization process, the blockchain industry will become more competitive. The introduction of the “Guiding Opinions” will help further strengthen the foundation of blockchain development in China, accelerate the scale of technology applications, build a blockchain industry ecosystem with advanced levels in the world, and achieve leapfrog development.

The role of “blockchain” is becoming increasingly important
What exactly is “blockchain” and what are its applications in life? The “Guidance” shows that blockchain is an important part of the new generation of information technology, a new database software integrated with distributed network, cryptography, smart contracts and other technologies, which is expected to solve the trust and security problems in cyberspace through data transparency, not easily tampered with, and traceable, and promote the Internet to change from transmitting information to transmitting value, and reconstruct the information industry system.

In the field of logistics, blockchain technology can play the role of traceability, reconciliation and credit collection. Cong Qing, head of blockchain products of Jingdong Logistics, told this reporter that based on today’s mainstream blockchain underlying engine combined with containerization technology, Jingdong Logistics can rely on the traceability code as a window to show the whole supply chain traceability information of commodities for consumers and realize that each commodity has its own unique blockchain “ID card”. At the same time, using blockchain distributed ledger technology and electronic authentication technology, the enterprise has also built a blockchain document platform, a blockchain reconciliation platform, and a trusted warehouse receipt service platform, and combined with IoT, AI, and GIS technologies to finally realize the digitization of logistics documents, contractualization of operation rules, and assetization of logistics data.

The Outline of the 14th Five-Year Plan and 2035 Vision for National Economic and Social Development of the People’s Republic of China includes blockchain as one of the emerging digital industries and puts forward requirements such as “developing blockchain service platforms and application programs in the fields of financial technology, supply chain finance and government services with emphasis on the alliance chain”.

Specify 22 key tasks
The relevant person in charge of the Information Technology Development Department of the Ministry of Industry and Information Technology said that at present, China’s blockchain technology applications and industries have a good foundation for development, and a number of representative blockchain applications have emerged in the fields of anti-counterfeiting traceability, supply chain management, judicial deposition, government data sharing, and livelihood services. The initial role of blockchain in supporting China’s economic and social development has emerged. However, at the same time, China’s blockchain is also facing problems such as urgent breakthroughs in core technology, immature integration applications, industrial ecology to be improved, and obvious shortage of talent reserves.

Specifically, the “Guiding Opinions” specifies 22 key tasks in five major areas.

In empowering the real economy, it is proposed to “promote the construction of blockchain-based supply chain management platform” and “use blockchain to build a credit data platform covering multiple parties”; in enhancing public services, it is proposed to “promote In terms of improving public services, it has taken out initiatives such as “promoting the application of blockchain technology in public service fields such as digital identity, data storage and urban governance” and “establishing a government data sharing platform based on blockchain technology”; in terms of consolidating the industrial foundation, it has made it clear that it will “actively participate in global standardization activities of blockchain and In terms of consolidating the industrial foundation, it is clear that “actively participating in global standardization activities and international standard setting” and “cultivating a number of high-value patents, trademarks and software copyrights” are tasks; in terms of building a modern industrial chain, it is given that “cultivating a number of blockchain ‘famous enterprises’ with international competitiveness ‘” and “accelerating the construction of blockchain open source community”; in promoting the development of integration, the policies listed are “accelerating the construction of blockchain-based authentication and traceability big data service platform” In terms of promoting the development of integration, it lists measures such as “developing blockchain-based artificial intelligence training, algorithm sharing and other technologies and methods”.

Contribute to high-quality economic development

“We have uploaded the data information such as face recognition attendance, contract, construction process, work order, performance evaluation, etc. generated in the process of labor employment, connected the construction industry-related regulatory departments, banks, construction enterprises and other units, and formed a multi-party trust mechanism for the migrant labor process.” Yang Hangpol, Chief Technology Officer of Yizhi Technology, introduced that blockchain technology ensures that the data cannot be tampered with once it is on the chain, ensuring a complete and accurate record of the construction process, which has been piloted in nearly 70 projects nationwide.

The Guiding Opinions proposed that by 2030, the comprehensive strength of the blockchain industry will continue to improve and the scale of the industry will further grow. Blockchain and the Internet, big data, artificial intelligence and other new generation information technology deep integration, in various fields to achieve universal application, cultivate the formation of a number of international leading level of enterprises and industrial clusters, the industrial ecosystem tends to be perfect. Blockchain has become an important support for building a strong manufacturing country and a strong network country, developing a digital economy, and modernizing the national governance system and governance capacity.

Industry insiders believe that blockchain technology application and industry development can help enhance the endogenous power of China’s high-quality economic development.

The relevant person in charge of the Information Technology Development Department of the Ministry of Industry and Information Technology said that at present, the integration and development of blockchain and industrial Internet, big data, cloud computing, artificial intelligence and other integration is still in the early stages, and the effect of integration applications needs to be further activated. The “Guiding Opinions” put forward to actively promote the application of pilot, increase policy support, guide localities to accelerate exploration, build public service system, strengthen industrial talent training, deepen international exchange and cooperation six safeguards to provide local authorities with the means and grasp of work.

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