Discussion Among Tycoons of Optics Valley: How Does DIYchain Energize Industrial Economy or Service Economy?
The Optics Valley Block Chain Technology and Application Forum & DIYchain Release Conference was formally held in Wuhan On June 30, 2018. The theme of this forum was “Purify the Market; Energize the Industry”. As the symbolic event of the block chain industry, 100 industrial block chain tycoons and 100 block chain medias attended to develop the discussion mainly on block chain technology, application and social groups, so as to realize the multi-dimensional integration, innovation and development of block chain academy, technology and industry. Depending on the tamper-resistance, block chain technology has fundamentally changed the centralized way of credit founding and constructed the way of trust at the minimum cost with code, namely machine trust, which are gradually being implemented in fields like medical health, IP copyright, education, culture and entertainment, communication, charity and public welfare, social management, sharing economy and IOT. “Block chain+” is coming true.
Block Chain + E-Commerce Customization Industry
Su Chaochao, CEO of YOME, pointed out in his keynote speech How Does Block Chain Technology Energize Entity Economy that the majority of current E-commerce transactions were accomplished through third-party agents, so the production could only be developed after a number of agents and price increase, showing excessively high link costs. On this basis, the original intention of DIYchain was to promote the development of customization industry, rebuild the E-commerce industry, create the brand new C2M point-to-point trading lifestyle, and build up the credit consensus with block chain technology. With application of tamper-resistance of data, the terminal customers and manufacturers are directly connected to form the trading consensus. With removal of intermediary agents and distributors in the E-commerce industry, the intermediary circulation and communication links are greatly reduced for direct point-to-point transactions, which greatly lowers the costs of the whole industry. With application of the characteristics of openness and transparency of block chain, layered sharing and vote sharing are adopted to share the data, get through the data barriers, realize the whole-industry information sharing, mutually cooperate and further improve the efficiency of the whole industry.
Su Chaochao believes that there are three layers in the block chain. The first layer is the economic model, including how block chain should be used to inspire the rapid development of ecology. It is of great importance to establish the trust foundation with block chain and establish the incentive system with economic model. The second layer is community and social group, leading to closer interaction between companies and all the users. The second layer is underlying technology. Each block chain company needs to be supported by research and development of underlying technology otherwise it will be an empty company. It is necessary to return the essence of commerce and bring convenience to people’s life from the customization industry to the block chain industry.
Block Chain + Production Relationship
Sheng Xia, CEO of GBLS, explained the relationship of block chain + production from four aspects including decentralization, weak central organization, value of “computing power”, simultaneous promotion and transverse reflux in the lecture themed on Block Chain Application and GBLS Excerpt Competition. She illustrated that we needed to embrace block chain as it greatly reforms the production relationship and emancipate the productive force. There will be more and more decentralized organizations in the future for realizing telecommuting and creating values. As long as the consensus can be achieved by the value of “computing power”, a number of projects can be operated to solve the productivity relationship. Block chain will create the value depression and industrial routing and rebuild the commerce ecology.
Meanwhile, Sheng Xia also introduced GLAB Global Block Chain Project Excerpt Competition that targeted at global block chain enterprises and strived for Top 3 of several global sites. The global final would last for half a year from Shanghai, Toronto, Beijing, Silicon Valley, London, Israel and Dubai to Hangzhou, China. She believed that GBLS Excerpt Competition was a reform that subverted the traditional mode combined with block chain technology. After combining block chain technology, GBLS is a supply-side reform that can accelerate circulation and realize rapid growth.
Block Chain + Language Translation Industry
Block chain can be used to energize the traditional industries and accelerate the ecological layout of industrial chains. Shi Xin, VP of Transn, shared in the conference that, as a translation company providing language service, the dream of Transn was to eliminate the language barriers in human communication. It is a market of trillions where each industry involves language but the artificial translation is good in quality, slow in speed and high in costs. AI translation is fast in speed but worse in quality. The machine engine will not become better in use or actually solve the critical points in language translation. Docking with block chain technology can energize the traditional industries from feeding processing to scenes and attach the language ability to all the block chain industries so as to realize the differentiating capability and create the future super brain through the man-machine co-translation mechanism.
Figure: Shi Xin, VP of Transn
Bitcoin Wu, founder of Wujie Block Chain, Xiong Jian, CEO of Lianbi-tech, Liu Li, CEO of VIDI, Shang Lvhua, responsible person of YunYou, Wang Xingdong, founder of central and western block chain alliance, Chen Cheng, capital partner of Wuse Capital, Zhang Bing, CEO of Fengmo, Tao Zi, founder of Purple Finance, Xuan Songtao, co-founder of ZIGGURAT, Zhang Jun, General Manager Assistant of ZB.com, Yang Ke, co-founder of SEOLUO.com, Zhang Xiaojun, initiator of Turing Fund, Qi Zhengyi, co-founder of IDAX, Zhao Changyu, founder of GBLS and other honorable guests attended the round-table discussion and two top-class talks.
Subsequently, Sun Jianfeng, co-founder of Fcoin.com delivered a lecture titled Development of Block Chain Communities and Social Groups. Wang Yuzhe, founder of Fbank delivered a lecture titled How Can Block Chain Finance Energize Traditional Economy. Wang Daqian, vice president of VVBTC, Han Yu, co-founder of OTC.bi, and Lin Xiao, founder of Sinmv, also delivered excellent lectures.
Through this forum, practitioners of block chain industries have profoundly realize the importance of “purify the market and energize the industry”. The ultimate objective of block chain application is to create values. Only by embracing block chain can it reform the production relationship, emancipate the productivity, rebuild the trust system, increase the data security, establish the consensus community and rebuilt the commercial ecology.