Huobi Zhu Jiawei: The combination of blockchain and big data will bring four changes

Recently, the 2016 3rd China International Big Data Conference was held in Beijing, guided by the Ministry of Industry and Information Technology, hosted by People's Posts and Telecommunications Press, and co-organized by China Payment and Clearing Association and China Internet Finance Association. Lin Nianxiu, Deputy Director of the National Development and Reform Commission, Zhou Hongren, Executive Deputy Director of the National Information Technology Expert Advisory Committee, Chen Jing, former Director of the Science and Technology Department of the People's Bank of China, and Yao Qian, Deputy Director of the Science and Technology Department of the People's Bank of China, attended the conference. Leading companies from various industries such as Industrial and Commercial Bank of China, Huawei, JD Cloud, Huobi.com, Yonghong Business Intelligence, and Sogou gathered together to fully and deeply interpret the current situation and development of my country's big data industry.

Huobi COO Zhu Jiawei was invited to attend the "Financial Big Data and Credit Forum" of this conference as the only representative in the field of digital currency. With the theme of "How Blockchain Changes Data Preservation", he shared with the guests the changes that the combination of blockchain and big data will bring.

Huobi COO Zhu Jiawei delivered a keynote speech

As the most mature application of blockchain, Bitcoin has been running stably for 8 years. The application prospects of blockchain can be seen from the development of Bitcoin. As the world's leading digital currency trading platform, Huobi's Blockchain Research Center is one of the earliest institutions involved in blockchain research and application. In 2015, Huobi Blockchain Research Center cooperated with the Internet Finance Laboratory of Tsinghua University's PBC School of Finance to launch the "Digital Asset Research Project". In June this year, the research center published the first book in China that introduces blockchain in an easy-to-understand way, "Blockchain: Defining the Future and the New Economic Pattern", and in July released the "2014-2016 Global Bitcoin Development Research Report" (full report download), which is the first research report in China that comprehensively introduces the current status of Bitcoin and blockchain development.

Combining Huobi's years of R&D and application experience, Zhu Jiawei believes that the characteristics of blockchain such as decentralization, openness and transparency, non-tamperability, non-forgeability, and distributed storage will greatly promote the development of big data technology and bring about changes in four aspects. First, blockchain will bring more reliable data. When data exists on the blockchain, it is data that cannot be tampered with or forged, and it is also naturally distributed storage data, so it will not be lost. Second, shared data. On the public chain of the blockchain, everyone is both a user and a contributor of data. The concentration of data is much higher than before, so everyone is willing to share this data. Third, consistent data. When doing data analysis, a very time-consuming but very important thing is to clean up junk data or inconsistent data. In fact, blockchain has done this in the process of confirmation and accounting, ensuring the validity and consistency of the data. Fourth, it brings privacy data, which we call controllable anonymity. Taking the application of blockchain in Bitcoin as an example, all account transfers are visible. When transferring a bitcoin from account A to account B, everyone can see it on the blockchain browser. But you can't see who the owner behind the account is, so this is controllable privacy protection.

Finally, Zhu Jiawei pointed out that the "blockchain +" era will come sooner or later, in which value transfer will become fast and accurate. The combination of blockchain and big data technology will promote the rapid development of Internet finance, and the credit system on which the financial industry relies will be more perfect.

It is understood that the China International Big Data Conference has been successfully held for three sessions. This conference brought together more than 2,000 representatives from various links of the big data industry chain, including competent ministries, local governments, industry organizations, big data manufacturers, IT, Internet companies, application units, industry organizations, and scientific research institutes. It is the most influential event in the field of big data.