Helping the development of Guiyang blockchain, Saizhi Blockchain believes that big data + blockchain will have great potential

The Guizhou government's emphasis on blockchain has recently attracted much attention. On February 23, the relevant person in charge of the Guizhou Provincial Big Data Development Leading Group Office interpreted Guizhou's key tasks for big data development in 2017, including: striving to create a national digital currency application pilot and applying to the central bank to make Guizhou the first digital currency application pilot province in the country.

In fact, the application and development of digital currency and blockchain has long been on the agenda in Guizhou. At the end of 2016, Guiyang released the white paper "Guiyang Blockchain Development and Application" (hereinafter referred to as the "White Paper"); on February 10, 2017, the Guiyang Municipal Government once again emphasized the application of blockchain technology. The "White Paper" shows that Guiyang is the core area of ​​the country's first comprehensive big data pilot zone, and is building a national Internet backbone direct connection point. It innovatively proposed the concept of sovereign blockchain, which will accelerate the application of blockchain technology in government, civil, and commercial fields.

Dr. Zhao Gang, one of the editors of the White Paper, is also the founder of an emerging blockchain startup, Saizhi Blockchain. Saizhi Blockchain was established in June 2016 and is a subsidiary of Beijing Saizhi Times. In fact, the team has already started to pay attention to blockchain two and a half years ago. As a company specializing in information technology consulting and big data analysis services, Saizhi Times serves mostly government clients. When government agencies began to conduct research on blockchain, Saizhi Blockchain participated in it.

While participating in a seminar on blockchain technology organized by the Cyberspace Administration of China and the Ministry of Industry and Information Technology, the Saizhi Blockchain team discovered that there is a very high level of attention to blockchain at the national level. Thanks to this process, Saizhi Blockchain has a clearer understanding of the upstream and downstream of the blockchain industry, and has gradually clarified its own positioning and development direction.

In terms of technology system and service model, Saizhi Blockchain is similar to most blockchain innovation companies that currently provide blockchain technology architecture solutions. With "Ethereum" technology as the core, Saizhi Blockchain integrates new consensus algorithms, data blockchain, cloud computing, Web applications and other technologies, gradually forming an independent and controllable enterprise-level blockchain technology architecture, and providing blockchain technology solutions for enterprises.

The differences from other teams are mainly reflected in two aspects. First, the industry experience of the Saizhi Blockchain team is mainly concentrated at the government level. Thanks to the team's past experience, Saizhi Blockchain is relatively familiar with the business processes and operating models at the government level. Therefore, the opening of government data, government supervision and people's livelihood services, and intellectual property notarization are the application scenarios that Saizhi Blockchain first explored.

On the other hand, in terms of products, data blockchain is its main exploration direction. Since its inception, Saizhi Blockchain has focused on exploring the integration of blockchain and big data. Saizhi Blockchain believes that blockchain can solve the problems existing in the circulation and security protection of big data resources, and big data can enhance the value of information in blockchain. According to official introduction, Saizhi Blockchain is the first company to propose big data blockchain, and is committed to developing data layered storage solutions based on blockchain technology, promoting the confirmation of data assets, on-chain transactions and on-chain data analysis.

But Zhao Gang also pointed out that

"The application of blockchain to big data is still in its early stages, and is limited in many aspects by the technology itself. For example, the data storage capacity of blockchain itself is limited, but big data requires the calculation and analysis of massive amounts of data. In this process, both must be well applied and balanced."

In order to promote the integration of blockchain and big data, Saizhi Blockchain has jointly established the "Big Data Blockchain Laboratory" with universities and experts and scholars, with three research directions: the application of blockchain in the circulation of data assets; the data analysis application of the blockchain platform itself; and the commercial application of the integration of blockchain and big data. Last year, Saizhi Blockchain also held the "Big Data Blockchain Parallel Forum" of the China Blockchain Industry Conference.

In terms of business development, Saizhi Blockchain is maintaining cooperative relations with the Central Cyberspace Affairs Commission, the Ministry of Industry and Information Technology, the Ministry of Public Security, Guizhou Province, Guiyang City, State Grid, LeTV Finance, China Insurance Group, etc. At present, Saizhi Blockchain is developing various applications in blockchain data notarization (such as contract notarization, property notarization, asset notarization, intellectual property notarization, etc.) and various financial applications. In the future, it will also explore the use of blockchain in data asset confirmation, asset transactions, and the integration of blockchain and big data in data analysis and artificial intelligence.

Industry perspective

2017 is the first year of blockchain application

In 2016, the conceptual verification of blockchain in various industries was in full swing: ICBC's financial asset transaction verification, BOC Hong Kong's mortgage valuation system verification, Zhongchao Credit Card's intelligent digital bill system verification, WeBank's inter-bank joint loan settlement and clearing, Sunshine Insurance's aviation accident insurance card single verification, Zheshang Bank's digital bill platform, and the central bank's digital currency are also about to be launched. But it is undeniable that it is still too early for actual implementation and large-scale popularization. Will there be a breakthrough in the application of blockchain in 2017?

Zhao Gang believes that "although some companies did POC last year, a large part of them have contract amounts. Although it is relatively small compared with market expectations, we have seen that in fact in various industries, such as banks, there are one or two successful application scenarios. The value of blockchain applications itself has application areas in all aspects of financial institutions. One successful case means ten possible promotions.

At the same time, everyone has more confidence in blockchain during the verification process, and they also know more about what problems blockchain can solve. 2017 is definitely not just a proof-of-concept stage, but the first year of blockchain application. A group of companies will receive many orders to develop more practical applications. "

Cross-chain technology is a natural phenomenon

As the number of public chains and alliance chains increases, how can we achieve interconnection and mutual trust between different blockchains? Many people in the industry believe that in order to solve this problem, cross-chain technology may be one of the trends in the development of blockchain in 2017. Zhao Gang looks at cross-chain technology in this way:

"The spirit of the Internet itself is interconnected, information is shared and constructed. From the perspective of the development of blockchain technology, if a field, an industry or a community has its own chain, but cannot achieve mutual interconnection and data sharing, there is still a big gap between the development of the Internet and everyone's expectation that blockchain technology will become the underlying technology of the value Internet. Therefore, it is necessary to achieve effective connection between different chains. How to achieve exchange and sharing? Cross-chain technology may be a natural implementation technology that emerges in the development process. Of course, it also faces the problem of technical standardization between community chains."

Facing the bottleneck period of blockchain development

What problems are there in the current development of the blockchain industry? Zhao Gang believes that

“On the one hand, blockchain is the supporting technology of the entire digital currency. The development of digital currency will be concerned by financial regulators. The quality of many tokens varies greatly, and some pyramid schemes have emerged based on this, which may affect the healthy development of the entire industry.

On the other hand, blockchain will certainly encounter bottlenecks in the process of application development, and negative voices are inevitable during the bottleneck period. For example, at one stage, everyone suddenly discovered that blockchain was not as valuable as imagined during the concept verification process. It may not be that it does not have this value, but sometimes it is just a temporary problem. "