On April 8, the annual meeting of the Boao Forum for Asia in 2018 opened in Boao, Hainan Province. The theme of this year’s conference was “Open and Innovative Asia, a Prosperous and Developing World”.This forum also set up a sub-forum on blockchain again on April 10, following the establishment of the “Digital Currency and Blockchain” sub-forum for the first time in the Boao Forum for Asia last year.
Governor of the Central Bank Yi Gang, Central Bank counselor Sheng Songcheng, Vice President of Renmin University of China Wu Xiaoqiu, former Governor of the Bank of China Li Lihui, Thunder Group CEO Chen Lei, Inspur Group Chairman Sun Pishu, and Visa Vice Chairman Ai Ruiqi all talked about the blockchain during the forum.
Bianews organizes the relevant sections of the Boao Forum on blockchains as follows:
Vice President of Renmin University of China Wu Xiaoqiu: I studied 4 years and I don’t know what the blockchain is.
Wu Xiaoqiu, vice president of the Renmin University of China and head of the Institute of Finance, at the media meeting of the 2018 annual meeting of the Boao Forum for Asia on the 8th that he had studied the blockchain for four years and never knew what it was.
“Frankly speaking, I was chained to the blockchain. I never knew what a ghost it was. I had a lot of people studying the blockchain. I started to get this stuff three or four years ago. I even found people who wrote books about the blockchain., but I still haven’t figured it out. If I don’t understand it, it’s very difficult to get this stuff.”
Wu Xiaoqiu said: “I’m not very stupid, but some people deliberately made it very mysterious. I take a wait-and-see attitude toward this kind of financial phenomenon. But the penetration of Internet finance is highly valued and I can see its value. Therefore, there is great development prospect for science and technology finance.”
Central Bank counselor Sheng Songcheng: The combination of blockchain and virtual currency will have no future
Sheng Songcheng, counselor of the People’s Bank of China and executive dean of the China-EU Lujiazui International Finance Research Institute, said that the combination of blockchain and virtual currency has no future.
He believes that blockchain is a technology. Bitcoin is a virtual currency. It is just an application of blockchain. If blockchain is combined with virtual currency, blockchain will have no future in virtual currency. . Because the virtual currency is not money, we just use a bitcoin.
The economic regulation and control in all countries of the world is mainly economic and monetary policies. The basis of monetary policy is that the state controls the currency issuance rights and legal currency. If the virtual currency is flooded, monetary policy cannot be implemented.
Blockchains should not be combined with currency. The combination has no future. It is also better not to use it in finance.
Now that the traditional financial system can already be used for daily use, the use of blockchains in financial efficiency is rather low.
Yi Gang, Governor of the Central Bank: Strictly Supervising Virtual Currency and Studying the Real Economy of Services
Yi Gang, Governor of the People’s Bank of China, stated at the Boao Forum for Asia that virtual currency has less service to the real economy, some speculation and even some money laundering, or other acts. So in China we have always been cautious about virtual currency.
Regarding the research of digital currency around the world, China’s research is ahead of others. We are also studying how digital currency can serve the real economy in the best possible form, develop safely in the best possible form, and avoid some possible negative effects, to make digital currency better able to serve the economy. This includes blockchain technology as well as financial technology. On the whole, our supervision of virtual currency is very strict. At the same time, we are also studying how to use the positive energy of digital currency and better serve the real economy.
While the financial industry is opening up to the outside world, it is necessary to prevent financial risks and propose three principles for the opening up of the financial industry.
The three principles of the opening up of the financial industry to the outside world are as follows: First, national treatment before access and negative list management. Second, the reform of the opening up of the financial industry and the formation of exchange rate mechanisms should be coordinated with the reform process of capital account convertibility and jointly promoted. Third, while opening up, we must attach great importance to preventing financial risks and make our financial regulatory capabilities match the degree of openness.
Visa Vice Chairman: Blockchain Available in B2B Payment Scenarios
Blockchains are not very large now, and they are not very fast and cannot be transmitted in real time, which is not enough to support most payment scenarios. Blockchain capacity and speed do not support retail operations because retail customers are very complex and very fragmented.
She suggests that it can be used in corporate transactions rather than retail customers, and revealed that Visa is exploring the use of blockchain in B2B scenarios.
Li Lihui, former president of Bank of China: Great breakthrough in blockchain technology in 2017
Li Lihui, former president of the Bank of China, said that the research and development of the bottom layer of China’s blockchain and application technology has taken the lead in the world.
He said that since 2017, blockchain technology has made great breakthroughs in scale applications. The first breakthrough is the establishment of a multi-dimensional delivery architecture, and the realization of numerous transaction parties in high-complexity financial transaction scenarios. Zero-distance, zero-day trading.
The second breakthrough established a platform for the registration and verification of trusted data. This platform can be used for both financial and non-financial.
Inspur Group Sun Pishu: Using the blockchain to link production, distribution and inspection
Sun Pishu, chairman of the Inspur Group, said that he hopes to use the blockchain to link the production process, circulation process, and inspection and inspection together, establish a quality chain network, link the quality into a network, and promote it.
He said, “I hope that by establishing such a platform, using this technology to establish a quality traceability platform, the current work I do think where your production of the product, you can put the information on the Internet.”
Thunder CEO Chen Lei: Blockchain should not be placed in the laboratory, should be placed in practical applications
Thunder CEO Chen Lei believes that all technologies are forced out during the use of the process.
He said that it is better not to put the blockchain in the lab, but to put the blockchain into the actual application. When you put technology into practical use, you must face the pressure of use every day, and you will be forced to upgrade your technology. If you can’t improve the user, they will scold you, this is the most effective way of technological progress.
Xu Lirong, Chairman of COSCO Shipping: Logistics Development Concept Focuses on New Technologies such as Blockchain
Xu Lirong, Chairman of COSCO Shipping Group, stated at the Boao Forum for Asia held on April 9 that the current development concept of logistics industry is highlighted as “two focuses”: one is that the concept of innovation is no longer focused on traditional elements, but rather “focusing “New technologies and new carriers such as blockchain, new energy, and shipping e-commerce.
The other is that the service concept is no longer focused on single factors and its own elements, but rather it is “focused” on one-stop, integrated, full-service. Vertical integration, cross-border cooperation and cluster competition are becoming the consensus of the industry.
In the 2018 Bo Hao Sina Finance Night — -Zhenghe Island Night Talk, Wu Ying, chairman of Zhongze Realm Investment Fund, talked about the blockchain during the speech and said that he has invested in Bitcoin companies but has not bought any money. The opportunity brought by blockchain is something many people can’t imagine. It is several decades, several hundred times or even thousands of times in the early days of the Internet.
Wu Ying said that the state not only did not prohibit blockchain technology, but also strongly supported it, including mainstream organizations.
Kevin Kelly: Blockchain is a potential tool for sharing economy
At the Boao Forum Digital Economics Forum on April 9th, Kevin Kelly, founding editor of Wired magazine, shared five trends in the future world. Kevin Kelly believes that the third trend is in the sharing economy. Hope to connect everything.
Kevin Kelly stated that “new technologies will create new problems, and these new problems will also require more new technologies to solve them. This is a continuous cycle. In this process, humanity will continue to make progress. This is an important opportunity, and everyone is on the same starting line. No one is still behind. ”
He also pointed out that people are currently collaborating on a number of platforms and hope that there will be technology that will allow one million people to do a project at the same time. How to track the work of millions of people? “This requires a potential tool for blockchain.”
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