From Bitcoin to digital currency, where will the blockchain ＂Spring Breeze＂ blow？

On December 14th, the 7th CCF (china computer federation) China Blockchain Technology Conference and the 1st Global Blockchain Industry Summit were held in Xuhui. At the meeting, Xuhui District signed cooperation agreements with the Industrial Development Promotion Center of the Ministry of Industry and Information Technology, Xuhui District Data Bureau and Shanghai Zero Digital Zhongzhi Technology Co., Ltd., and the second batch of enterprises in Xuhui District’s "Digital Chain Space" settled in. The reporter was informed at the meeting that at present, the research focus of blockchain technology in China is focusing on the key technologies of alliance blockchain and blockchain supervision technology, and the development of domestic blockchain industry is welcoming a "spring breeze".

Since the blockchain technology was put forward in 2008, it has developed from the initial bitcoin application to a far-reaching technological change. Experts attending the meeting said that as a decentralized, tamper-proof and open and transparent technology, blockchain is promoting technological innovation on a global scale. At present, the United States, Europe and other countries and regions have made remarkable progress in blockchain supervision, financial technology and supply chain optimization, especially in the fields of Web3.0 and decentralized finance, and technological innovation around the world is changing with each passing day.

In China, blockchain, as a key industry of digital economy, has been included in the "Tenth Five-Year Plan", and a number of new enterprises, new products, new models and new applications have emerged in IT, finance, manufacturing and other fields.

"As an important breakthrough in the new generation of information technology, blockchain provides technical support for data storage, transmission and sharing; However, we must also be soberly aware that blockchain technology still faces some challenges that need to be solved urgently. " Di Gang, deputy director of digital currency Research Institute of China People’s Bank, said. These challenges specifically include the lack of blockchain performance and scalability, privacy protection issues, insufficient system maintainability and manageability, and insufficient cross-chain interoperability and compatibility, all of which are technical problems that must be solved in the development of blockchain.

However, the problem is not only the bottleneck of current technological development, but also the driving force to promote technological progress and breakthrough. Di Gang introduced that the Institute of Digital Research of the Central Bank, as a research and development institution of digital RMB, has been innovating in many core areas of blockchain technology research.

Specifically, it includes: in terms of privacy, we will deeply study ZKP related technologies, and will apply them to projects such as the Central Bank’s cooperation with the Hong Kong Innovation Center of the Bank for International Settlements and the multilateral central bank’s digital currency Bridge with Thailand, the United Arab Emirates, Hong Kong and Saudi Arabia; In terms of cross-chain technology, cross-chain between different systems such as currency bridge chain, aviation trade chain and blockchain service platform chain has been realized; In terms of consensus algorithm, the Institute of Mathematics of the Central Bank and Tsinghua University cooperated in innovation and developed a blockchain DASHING consensus protocol with international leading level, which can solve the four-party problem of consensus algorithm; In terms of DID (Decentralized Identity), the digital RMB APP has launched the "Digital Identity" function.

"All economic activities are inseparable from settlement, and the digital economy has put forward higher requirements for settlement." Di Gang introduced that at present, the Institute of Digital Research of the Central Bank is cooperating with Changan Chain to jointly build a national-level shipping trade blockchain platform and provide online digital RMB payment functions. Next, the Institute will continue to promote the innovative application of digital RMB in financial markets, digitalization of shipping trade, cross-border payment and other fields, and make positive contributions to building Shanghai into a highland of global financial internet.

On December 15th, the first global blockchain industry summit will be held in Shanghai. With the theme of "global vision and common development", the future of blockchain technology will be examined, and "Data Link Dynamics and New Productivity Development Forum", "Trusted Knowledge Management Forum in the Big Model Era", "Blockchain Infrastructure Technology Forum" and "Anti-quantum Blockchain: From Algorithm Migration to Transaction Migration Forum" will be held, focusing on the frontier innovation and development trend of blockchain at home and abroad.

Editor-in-Chief: Mao Guanjuan

Author: Shu Shu

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