IBM is the top sponsor of the blockchain summit held by Wanxiang Blockchain Lab

Rage Review : From September 19 to 24, 2016, the "Shanghai Blockchain International Week" hosted by Wanxiang Blockchain Lab will kick off in Shanghai. This event will gather the top lineup of the global blockchain industry. Compared with previous summits, this event focuses on building diversified application scenarios. As an important member of Hyperledger, IBM attaches great importance to this summit and participates as a top sponsor.

Author: Lydia

Last year, the first Global Blockchain Summit was held in Shanghai. The lingering sound made the concept of blockchain known to all walks of life in China for the first time, which shocked the cerebral cortex. After the meeting, the three words "blockchain" gave people a refreshing and fascinating feeling. The first to bear the brunt was the global IT industry, which was very popular. It caused a lot of opinions in the financial industry, with mixed reviews. Everyone was talking about the huge opportunities for change that blockchain may bring. The guests who participated in the summit were once again ahead of the times. They not only understood the potential of blockchain earlier, but also reminded themselves to seize the opportunity in the future.

The Shanghai International Blockchain Week is a grand event for the global blockchain industry. Giants from the global blockchain industry and investment institutions will participate. It is larger than ever before, with a strong guest lineup and more pre-attendees. It will showcase the world's 25 most innovative blockchain start-ups and projects, involving the application of blockchain in multiple industries, allowing many potential entrepreneurs who want to enter the blockchain industry to understand the latest progress of global innovation and find local entrepreneurial opportunities. At the same time, it will also allow investment institutions and investors to get a close look at the main trends of blockchain entrepreneurial projects and find potential investment targets.

If last year’s focus was on “what is blockchain” and “what can blockchain subvert”, then this year’s focus must be on building diversified application scenarios.

The organizer of this summit is WanXiang Blockchain Labs.

2015.9 Wanxiang Blockchain Lab was established

Wanxiang Blockchain Lab is a non-profit research institution focusing on blockchain technology, funded by China Wanxiang Holdings Co., Ltd. The founders are Dr. Xiao Feng, Vice Chairman and Executive Director of China Wanxiang Holdings Co., Ltd., Vitalik, founder of Ethereum, and Shen Bo, founder of Bitshares. The lab brings together experts in the blockchain field to conduct research and discussion on technology research and development, commercial applications, industrial strategy, etc., to provide guidance for entrepreneurs, reference for industry development and policy formulation, and promote the development of blockchain technology to serve the progress of social economy. The operating expenses of Wanxiang Blockchain Lab are provided by China Wanxiang Holdings.

At present, Wanxiang Blockchain Lab has gathered a large number of global blockchain technology experts and scholars. Vitalik, the founder of Ethereum, one of the most important public blockchains in the world, serves as the chief scientist of Wanxiang Blockchain Lab. At the same time, the lab maintains a good cooperative relationship with open source projects in blockchain research or development.

Under the hype and guidance of public opinion, the "blockchain" industry bubble is high. Many experts and scholars have called on all parties to remain calm and wait and see. However, Dr. Xiao Feng, the founder of Wanxiang Blockchain Laboratory, the undisputed leader of China's blockchain industry, does not care: "For the technological innovation industry, bubbles can bring about rocket-speed explosion and growth, accelerating Moore's Law. We expect the bubble to be in China rather than the United States. We expect China to take the lead. In the Internet era, great companies all stand out after the bubble."

Blockchain technology is still far from being applied, but if you are not on the track, you are not eligible to participate in the competition when the starting gun goes off. Therefore, everyone must enter the track and make full preparations. If you are not prepared, what if the gun goes off? You will not be eligible to compete. So everyone is trying to do this.

As Yao Yudong, director of the Financial Research Institute of the People's Bank of China, said in a rather sobering statement, "Don't be born on the Internet and die on the blockchain." Although blockchain continues to heat up, there are many different opinions. The emergence of a new thing is bound to cause some speculation and doubt from the world, but we should not be discouraged by this.

Sun Tzu said: "He who plans for victory before the battle has made many plans; he who plans for defeat before the battle has made few plans. Those who plan for victory will win, those who plan for defeat will lose, and what about those who plan for no victory at all?"

Mainstream financial institutions abroad have already begun to take drastic measures. If we at home continue to fail to prepare due to doubts and the uproar, we will inevitably lose our voice in the international status of this disruptive technology.

In this regard, IBM, as a century-old IT giant, also actively responded to this summit and became the top sponsor of the summit. IBM is actively working with hundreds of customers to understand how to make blockchain technology ready to serve the real business of enterprises, and to promote the development of blockchain technology by open source blockchain technology and providing resources for blockchain developers. Among them, financial services, supply chain, Internet of Things, risk management, digital copyright management and medical and health care are all areas where we can achieve great changes with the help of blockchain networks.

IBM is working to build an open blockchain industry ecosystem around the world. It is reported that IBM has established a new division to integrate advanced technologies such as blockchain and Watson to provide industrial platform services, which means that IBM's blockchain work has entered a new stage. In addition, in order to speed up internal transaction tracing, IBM plans to launch the largest blockchain business system application within the company as early as September this year. The project is expected to save IBM's Global Financial Department (IGF) about US$100 million in transaction disputes.

Finally, let us all hope that the upcoming event will give participants a chance to see the true face of 30 high-quality start-up projects selected from around the world, including IBM, and provide direction and guidance for domestic entrepreneurs who are in the exploratory stage.