From the initial frenzy of national currency speculation to the calm of policy supervision and technology return, the blockchain is gradually moving from noise to order. As far as the blockchain itself is concerned, it is like a pile of dry firewood that has not been burned, and the energy contained in it is far from being released. Looking at the future from the present, how far is blockchain technology from large-scale application?

For a long time, the popularity of blockchain has remained high. Under the multiple promotion of policy, technology and market, blockchain technology is accelerating its integration with the real economy. With its unique trust building mechanism, blockchain has become an important direction for the deep integration of science and technology, finance, supply chain, international trade and other fields.

In this wave of technological and commercial innovation, both at the national level and the capital level, they hope to compete for the first mover advantage and voice of the blockchain.

At present, domestic Internet enterprises represented by Tencent, Alibaba, Baidu and NetEase have actively engaged in the development and application of blockchain technology. Looking around the world, Internet giants such as IBM, Microsoft, Google and Amazon have also entered the market and launched their own baas products.

The so-called baas refers to blockchain as a service (blockchain as a service). It can be simply understood as a cloud service combined with blockchain technology, which aims to help enterprise developers create, deploy and manage blockchain networks.

In specific application scenarios, baas technology is applicable to various business fields such as commodity traceability, supply chain finance, data asset transaction, digital content copyright protection, chattel mortgage, judicial deposit and so on.

At present, blockchain technology is still in the early stage of development, and all parties are still discussing the concept, architecture, technical characteristics, development route, governance and supervision of blockchain.

As the first cloud service provider to launch commercial operation baas platform in China, Tencent cloud has developed blockchain technology since 2015. It is the first batch of Internet enterprises to layout blockchain in China. Its product tbaas has always ranked first in China after evaluation, and is also in the forefront of the industry in terms of application implementation.

At the City Summit of Tencent global digital ecology conference, Shao Bing, head of Tencent cloud blockchain, was interviewed by technology cloud report and talked about his views on the latest development trend, application practice and business challenges of blockchain.

Shao Bing, the person in charge of Tencent cloud blockchain, alliance chain is the future trend

At present, according to different application scenarios and user needs, the industry roughly divides the form of blockchain into three categories:

Public blockchain, private blockchain and consortium blockchain

Public chain, as its name implies, is a “public” blockchain. It refers to a consensus blockchain that is open to everyone in the world, anyone can read data, send transactions, and transactions can be effectively confirmed.

The private chain is completely opposite to the public chain. The write permission of the network is fully controlled by an organization or institution, and the data reading can be selectively opened to the outside world according to the needs. This type of blockchain is more suitable for internal use of specific institutions.

Alliance chain is a blockchain form between public chain and private chain, which can realize “partial decentralization”. Each node on the chain usually has its corresponding entity or organization. Participants join the network through authorization and form stakeholder alliances to jointly maintain the operation of the blockchain.

To some extent, alliance chain also belongs to the category of private chain, but the degree of privatization is different, which is applicable to B2B application scenarios such as transactions and settlement between different entities.

Because public chain, private chain and alliance chain have different forms, their advantages and scope of application are different.

In Shao Bing’s view, the public chain and the alliance chain are two completely different application scenarios. “The public chain is more like an idealism, the so-called Anarchy to achieve autonomy, but for the alliance chain, it has more governance ability and emphasizes management and supervision means.”

Shao Bing believes that alliance chain is the application trend of blockchain in the future. For the blockchain, the real mission is to let the value circulate, and the alliance chain is the most suitable form to combine technology and business, which is feasible for commercial implementation.

At present, the blockchain business of Tencent cloud is mainly based on alliance chain, providing services for internal users, enterprise customers and institutional customers of Tencent group.

According to the official data of Tencent cloud, its blockchain product tbaas discards some original blockchain technical features such as digital currency and workload proof, retains and develops the functions of distributed account book, transaction consensus and data tamper prevention, and enhances the capabilities of authority management, security control, privacy protection, supervision / supervision, etc, It defines the force of Tencent cloud blockchain in the direction of alliance chain.

In the long run, Shao Bing believes that blockchain will play the role of infrastructure in the future, just as important as cloud computing and big data. As an infrastructure with consensus mechanism, industrial blockchain has three capabilities:

One is the ability to connect. Blockchain can connect people, people and systems, systems and systems; Through connection, the blockchain has the ability of data sharing and data exchange.

Second, the ability to open the platform. Blockchain can allow more organizations to join the blockchain network in an equal and collaborative way, and finally build an ecosystem of comprehensive connection and deep business integration. For example, when all enterprises are on the cloud, the blockchain can open up the collaboration between enterprises, and finally form an ecological community in the era of digital economy across industries.

Third, the ability to combine blockchain with cloud. In the era of blockchain, many values will run on the chain. If you leave cloud computing, many things will become passive water. Therefore, the combination of blockchain and cloud computing will play a very important role in future economic development.

Based on these three capabilities, Tencent cloud has put forward its own “blockchain +” strategy, that is, integrate the blockchain with various technologies, various industry scenarios and various services to form a “blockchain +” capability with “connection, sharing and collaboration”, and finally use the “blockchain +” strategy to connect commercial content and better enable the blockchain + ecology.

Supply chain finance has become a key application field

After the development of blockchain in recent years, it has been applied to a certain extent. According to Shao Bing, Tencent cloud has been recognized by domestic customers in the implementation of industry applications, and is currently contributing industry cases and best practices to industry standards.

In the 2019 Tencent blockchain white paper, Tencent cloud shows a variety of directions for the combination of infrastructure and industry practice, and tbaas, as an enterprise level blockchain open platform, has been applied in many industries such as finance, government affairs, medical treatment, retail, e-commerce, games, Internet of things, logistics and supply chain, public welfare and charity.

In the field of supply chain finance, blockchain can be combined with a variety of business scenarios, such as realizing multi-level flow of accounts receivable, realizing electronic system in bank draft, enhancing liquidity in chattel mortgage, etc.

Taking the capital clearing center of urban commercial bank as an example, there will be a lot of inconvenience in the management and circulation, fraud and authentication of paper bills in the past. When a blockchain system such as tbaas is used to realize the electronization of bank bills, all links of bank bill circulation such as issuing bank, receiving bank and holding bank are opened up, so as to fundamentally ensure the reliable circulation of bank bills, which is the greatest improvement compared with the traditional model.

In the field of judicial deposit, the legal effect of blockchain deposit has been confirmed in China. In the provisions of the Supreme People’s Court on Several Issues concerning the trial of cases on the Internet published by the Supreme People’s court, a judicial interpretation was made for the first time on the authenticity of electronic data deposited with blockchain technology.

According to the white paper on the application of blockchain judicial deposit certificate, as of the end of June this year, the high courts, middle and grass-roots courts and Hangzhou Internet courts in 12 provinces (municipalities directly under the central government) including Jilin, Shandong, Tianjin, Henan and Sichuan have launched the blockchain electronic evidence platform.

In practice, taking a bank’s personal credit business as an example, when a user is overdue and needs judicial intervention, because the relevant business data has been notarized on the blockchain and has a complete evidence chain, it can be used as legal evidence for rapid adjudication and execution in network arbitration.

In the field of government affairs, in view of the problem of data islands in various departments, blockchain technology can solve the problems of data sharing and authority management between different departments in the form of directory blockchain.

Taking Beijing municipal government as an example, from the perspective of management, the municipal government needs to uniformly manage the data of various commissions and bureaus. However, from the perspective of departments, many data can not be fully opened to the outside world. For example, many data of the public security bureau are closely related to citizens’ personal privacy, and there are many uncertainties before requesting the opening of data.

Based on this background, directory blockchain is a good choice. According to the directory approved by Beijing sanding, upload the responsibility scope, database table directory and data table structure of each Commission Bureau to the blockchain. When requesting data from a Commission Bureau in the future, you can clearly see what kind of data the Commission Bureau can share.

In addition, Tencent cloud has some industry practice in business scenarios such as anti-counterfeiting and traceability, shared ledger and digital copyright protection.

Shao Bing said that at present, the field of supply chain finance is the main application scenario of blockchain, and the application potential of data sharing can not be underestimated. Tencent cloud is trying to combine blockchain applications with big data, Internet of things and other fields.

Blockchain development faces five challenges

Although Tencent cloud has made a series of achievements in blockchain technology and application, Shao Bing said that with the application practice of blockchain, there are many challenges, specifically:

First, in terms of business model, blockchain is a distributed system, with more emphasis on distribution and cooperation. How to reconsider the existing business problems with the distributed business model is the biggest problem faced by the implementation of blockchain.

Second, in terms of data privacy, as a distributed platform, blockchain emphasizes both data sharing and data privacy. At present, there are no perfect laws and regulations to regulate how to better protect data privacy, which needs to be discussed in business practice.

Third, in terms of uplink and cross chain, how to connect offline physical assets with digital assets on the chain, and how to realize the transfer of data and assets between different blockchain chains are the urgent concerns of blockchain applications at present.

Fourth, in terms of digital currency, the combination of legal currency and blockchain is lacking, and the closed-loop operation with blockchain application cannot be realized on the blockchain. We look forward to the early launch of national digital currency.

Fifth, in terms of talents, the blockchain field needs compound talents, but at present, there is a great lack of relevant talents. Blockchain is not only a technical field, but also an innovation of business model. Therefore, people familiar with cryptography technology or business can be transformed into blockchain talents.

Generally speaking, blockchain will be a very important technical component and core in the future economic world. Shao Bing expressed the hope that the blockchain can play a reliable role to help enterprises achieve better ecological connection. In this process, Tencent cloud will also play a good role as a connector to help digital enterprises connect various elements of digital economy and business.

Responsible editor: CT

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