On January 15, 2020, the “breaking boundaries and integration” blockchain and digital finance summit forum was held in Beijing. The organizers of this forum are eBay finance, a blockchain and financial management magazine, and the co organizers are finance and digital observation.

At the top feast of the blockchain industry, celebrities from banks, regulators, research institutions and leading enterprises held several rounds of in-depth discussions around the two core topics of blockchain and digital finance.

Among them, digital economy, central bank digital currency, open source alliance chain, digital voucher and financial information flow have become the focus of heated discussion.

01 wonderful speech

“China has become the world’s largest digital financial market.” In the opening speech of the forum, Li Lihui, leader of blockchain working group of China Internet Finance Association and former president of Bank of China (3.650, 0.00, 0.00%), said.

In his opinion, blockchain and digital finance will bring three major changes to the financial industry: first, digital interaction can create a zero distance and weak intermediary economic structure; Second, digital trust can promote financial inclusion with high efficiency and low cost; Third, digital currency may lead to financial subversion beyond sovereignty and banks.

Li Lihui said that while China has become the world’s largest digital financial market, it will also become the market with the most fierce technical and commercial competition.

What will be the core of the digital financial era?

At the scene, Chen Weigang, director of the board of supervisors of key state-owned financial institutions of the China Banking and Insurance Regulatory Commission, said that digital will become the most important means of production in the digital society, that is, the core factor of production. In the past, wars between countries were land wars, oil wars and financial wars. In the future, they will turn to digital wars, and blockchain will become the main battlefield.

In fact, the global digital economy war has already begun. Yang Fan, CO chairman of Zhongguancun (9.660, 0.00, 0.00%) blockchain Security Research Institute, pointed out that more than 20 countries around the world have planned to issue legal digital currencies, and the equilibrium pattern of the three central banks of China, the European Union and the United States has basically taken shape. In terms of the layout of digital legal currency, the EU focuses on the b-end, China focuses on the C-end, and the idea of the Federal Reserve is similar to Libra launched by Facebook.

For Libra, Zhang Yifeng, President of China Banknote blockchain Technology Research Institute, believes that under the global financial regulatory framework, Libra is difficult to land quickly, but Libra also brings enlightenment to financial practitioners: the financial industry is bound to open up. Zhang Yifeng pointed out that blockchain can create distributed personal identity, realize the anonymous flow of data vouchers, and make cross institutional and cross subject asset transactions possible. In the era of open finance, blockchain is likely to become an important infrastructure in the financial industry.

Opening up is the general trend of the financial industry. Fan Ruibin, deputy general manager of Distributed Business Technology Development Department of Weizhong bank, pointed out that many blockchain platforms have greatly reduced the technical and psychological threshold of practitioners through open source. Now, more and more alliance chains are moving towards open source, which is a good thing for the industry.

Du Mingjie, deputy general manager of digital Finance Department of Everbright Bank (4.180, 0.00, 0.00%), said that the four scenarios of online loan asset securitization, transaction fund custody business, cloud payment e-wallet and new transaction banking business are the best areas for the implementation of blockchain in the banking industry. As a technology, blockchain also has two sides. On the one hand, blockchain represents technological innovation; On the other hand, blockchain may also bring new financial risks. Banking practitioners should pay attention to this.

Security is the foundation of the financial industry. Li maocai, general manager of Tencent blockchain technology, believes that the data on the blockchain has two attributes: asset and openness, which also makes the assets on the chain more vulnerable to black industry attacks. In the future, blockchain related financial innovation may face more severe security problems. Blockchain and financial practitioners should be vigilant and do a good job in joint defense.

02 round table discussion

The theme of the round table forum of this forum is “financial innovation in the blockchain era: where the next change starts”, and the moderator is Chu Kang, founding partner of Zhurui capital.

In the round table forum, He Ping, director of China Financial Research Center, School of economics and management, Tsinghua University, believed that whether it is financial applications such as supply chain finance, asset securitization and insurance, or applications in non-financial industries, practitioners should look for pain points that cannot be solved in the centralized system, add blockchain elements to the existing system, and enhance efficiency through blockchain, Instead of subverting the original system.

Li Feng, head of Du Xiaoman financial blockchain, pointed out that in 2020, the blockchain field should focus on infrastructure construction from a long-term perspective. Only when the underlying technology prospers can the blockchain create business value.

An Qianlong, founding partner of alphacoin fund, said that in the subdivided field of financial technology, using blockchain technology to realize innovation has always been the object of attention of the management. He believes that there will be new blockchain giants in the new financial technology segment.

In terms of blockchain application implementation, Zhang Zuoyi, head of product innovation of blockchain Department of Jingdong digital technology innovation business department, pointed out that Jingdong digital technology has always maintained a “two round” model: first find the scene that really generates value, then improve technology and talent capabilities through the scene, accumulate service capabilities, and realize a virtuous circle.

Fan Hongyue, the R & D director of Zhongan technology blockchain project, said that in the blockchain industry, the establishment of data standards is one of the foundations for opening up data islands. Only when standards are established can we build a highway between data and open up isolated islands. At the same time, data security, user privacy protection and data openness are also very important in the chain.

03 unveiling and awarding

At this forum, the 40 person forum on China’s digital finance was officially launched.

China Digital finance 40 forum is a non-profit digital finance private think tank, which is committed to supporting the development and implementation of China’s digital finance technology and strengthening the academic research of China’s digital finance. Members of the forum mainly come from leaders of decision-making departments and financial regulatory institutions, experts and scholars from well-known universities and research institutions in the field of digital finance. The forum will regularly hold internal seminars and digital finance summits to jointly promote the rapid development of China’s digital finance industry.

As part of the series of activities of the 10th China financial innovation and development forum, the summit also awarded the blockchain related awards of the gold award to commend Chinese blockchain enterprises that have made breakthroughs in this field in the past year.

Those who won the annual most influential blockchain Technology Innovation Award include Du Xiaoman finance, JD digital technology group, Tencent Technology (Shenzhen) Co., Ltd., Weizhong bank and Zhong’an technology.

Those who won the annual most influential blockchain technical service award of Jinxi include Helian consensus, Tongfu shield, online recording technology and know Chuangyu.

The organizers of this forum also delivered a speech at the scene《 Shi Dong, President of financial management magazine and President of eBay financial media, pointed out that the trend of financial digitization has become more and more obvious, but the blockchain technology is not divorced from the essence of finance.

Guo Junqi, CEO of a blockchain, said that China has become a pioneer in blockchain exploration, and “blockchain + finance” has always been the core area of a blockchain. In the future, a blockchain will continue to increase investment and deeply cultivate blockchain finance and industrial blockchain.

As the theme of this forum said, breaking boundaries and integration will certainly become the trend of blockchain and digital finance in the future. The whole financial industry will undergo revolutionary changes.

Practitioners are standing at the forefront of the tide and witnessing the arrival of this historic moment.

Responsible editor: CT

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