On March 25th, 2018, organized by Beijing Blockchain Technology Application Association, co-organized by Galaxy Space, and exclusively supported Jinse Chain Finance, the first blockchain offline salon “Blockchain College- Special Traceability Session: Blockchain Technology Application and investment practices” was successfully held in Beijing. The salon brought together experts and industry practitioners in the blockchain field to jointly discuss the commercial applications and investment outlets of the blockchain industry in China.

At present, the concept of blockchain continues to heat up in China. Starting in October of 2017, the search for keyword of blockchain has generated a multi-fold increase in search engines on Baidu and Google. At the end of the third quarter of 2017, the total amount of global digital currency project financing has exceeded US$ 2 billion. From January 2016 to October 2017, more than 250 blockchain teams completed financing.

Xu Lichun, co-founder of the Source Blockchain, said that in the new retail sector, blockchain technology has a very large application space. The use of blockchain + Internet of Things technology to trace back specific products, so that the traceable data can not be tampered with and can be traced back, which effectively solves the problem of trust between consumers and producers, realizes the transfer of credit value, and ultimately helps producers embody brand values. In addition, with the help of new retail channels, products can be circulated at a premium, brand value can be realized, profits can be achieved, to have the tracing investment be the guarantee of the increase of the revenues. In the meantime, consumers can enjoy more reliable products to satisfy their own consumer demands to improve the quality of life.

Lan Hongming, Capital Investment Director of QF Capital, pointed out that blockchain technology can have a greater application in the supply chain finance field. Traditional enterprises generally have multiple suppliers. In terms of specific operations, the majority of suppliers at different levels will temporarily solve the problem of payment of goods supply in the form of accounts receivable. In this way, it is unavoidable that the first-tier suppliers will be in arrears to the suppliers of the next a few tiers after the company completes the settlement of the payment for the first-tier suppliers. However, if the core company finds a funding party to be the alliance chain, it can achieve multi-level transfer of accounts. Specifically, it may find a bank that gives financial support, to provide a credit line to the core enterprise, and makes this credit into a smart ledger and pays the Tier 1 supplier through it. The Tier 1 supplier may split it at random and assign it to suppliers at all levels. Once it is expired, the smart ledger will directly pay the account money to the supplier holding the corresponding chips. In addition, it can also be used in the protection of copyright, including pictures, videos, audios and animations.

Tao Feng, founding partner of traceable capital, said that the ecological map of the blockchain was divided into three layers. The first is the infrastructure layer. The basics in the infrastructure layer all are the application foundations. The second is the general application layer, providing services to developers, including similar fast calculations, smart contracts, information security, data services, anti-counterfeiting, solutions, mining, and BaaS. The third is an extensive application layer, and it faces terminal users. The scope includes various industries, including finance, digital currency, entertainment, supply chain, medical, legal, public welfare and social industries. When selecting a project, four dimensions need to be considered: technical implementation capabilities, ecological landing capabilities, teams and business models.

The technology, business, and development of blockchain are very complex, and landing applications need to satisfy multiple factors. Wang Pengfei, founder of the traceability chain and chairman of Kuaipai Wulian, said that the four factors are critical: 1. Legal means to combine with a legally effective supply contract to have information upload behaviors be linked to legal liability. 2. Using the Internet of Things approaches to combine with various Internet of Things technologies, for example, RFID, NFC chips, and to replace manual input with machine input. 3. Authoritative nodes. Introduce an authoritative organization with no direct interest as an authoritative node to participate in the certification of information. 4. Standardized international coding. The industry technical standards and supervision, including the protection of the interests of investors, the self-discipline of the project parties, and audit and other measures are supposed to be implemented as soon as possible.

Liang Wei, Executive Director of the Beijing Blockchain Application Association, said that the Beijing Blockchain Technology Application Association (BBAA) was the first blockchain application association in China and was registered in the Civil Affairs Department according to the law and was established under the guidance of Beijing Municipal Investment Promotion Bureau. The “China Blockchain Development Report”, jointly organized by the association and the People’s Bank of China, is the only annual blue book in the field of blockchain authorized by the Chinese Academy of Social Sciences. The association is dedicated to accumulating industry resources through industry research, special events and other forms. Integrate and to promote the development of blockchain with cross-boarder integration and innovation and development of advanced technologies.

According to the person in charge of the Galaxy Space, as a global distributed intelligent shared space, Galaxy Space is committed to promoting the rapid development of China's innovation and entrepreneurship. At present, through the construction of vertical communities, the establishment of special entrepreneurial activities, and the provision of special entrepreneurial services, it   promotes technological innovation and entrepreneurship to serve the real economy. The Shangdi community will develop into a blockchain community, and will provide 3-month rent-free period for blockchain companies and one-year free services from Galaxy Cloud, a subsidiary of Galaxy Group.

For the next blockchain offline salon registration please pay attention to "Beijing Blockchain Application Association" official public account on WeChat.

Beijing Blockchain Application Association

March 25, 2018