Why has blockchain technology become the new driving force behind China's digital transformation?

When it comes to blockchain technology, people should first think about cryptocurrencies like Bitcoin. However, in practice, the use of blockchain is not limited to cryptocurrencies. In recent years, next-generation technologies such as blockchain have become the new basis for China's digital transformation, demonstrating exceptional quality in both technology and use.

Technically speaking, Chinese companies are way ahead of blockchain technology patents, for example, AntChain has ranked first in global blockchain patent application for four consecutive years. Technically, it can generate $ 1 billion, simultaneously supporting 1 billion daily transactions and performing 100,000 data processing operations (PPS) per second.

Technological development is guided by the application. In recent years, there have been more and more cases of blockchain in utilities and physical industry, from tracking, tariffs and seals, to order, to high investments, to legal protection, to events from life to international trade, transport, etc. Companies have entered the deep realm of digital exchange through blockchain. It can be said that the development of "the real blockchain industry" is booming in China. Businesses and societies from all walks of life are chained one after another to create a "wave of chains", uniting the world.

"It's convenient, but it's good to use the situation." The rapid pace of the digital transformation of China's economy is inextricably linked to the export industry and policy directions at the country level.

Already in December 2016, the “13th National Computerization Plan” proposed to strengthen the reference to the use of technology, and blockchain technology was mentioned for the first time. In 2019, “mastering the blockchain is a key step in achieving the independence of information technology” and “accelerating the development of blockchain technology and“ innovation ”has become a major national objective of the blockchain strategy. At the same time, the legislative phase continues to provide valuable guidance for improving blockchain technology in a flexible and scalable environment. In 2019 alone, several central agencies and boards of directors reported 45 cases of blockchain information related to policy support, out of 13 cases of blockchain related information issued by the Board of Directors of the State and the State Board of Directors.

As the development of blockchain in China has become integrated with the physical situation which includes government utilities and various commercial bodies, and its application has become a plus, regulations have been introduced in various places to encourage new uses. of the blockchain. The engine of digital transformation processes. In January 2020, 10 departments and committees, including the Central Bank, the Ministry of Transport, the National Bureau of Exchange, the National Radio, Film and Television, and the Ministry of Justice, announced 11 policies to promote integration of blockchain and blockchain. varied fields. In addition, blockchain is increasingly influencing the ranking of many technologies.

It can be said that the role of blockchain in the politics of the national advertising industry has improved considerably. Meanwhile, in the increasingly competitive global environment around technological development, blockchain has become the new center of global technology competition. Meanwhile, blockchain is expected to become a new driving force for the development of a true home-based business which is a key driver of innovation. "The focus on deep support for change and innovation and support for the improvement of new and old cities" was announced by the state administration on January 17, 2021, explores the development of blockchain technology and the development of news and “blockchains”. “A model that accompanies the deepening of blockchain and real estate.

In the "intellectual age" there is an impressive phrase: "If capital and all kinetic energy are used as the driving force of global modernization after the age of great travel, information will become the driving force of the next generation of technological revolution. and social change. "."

With the spread of globalization, “digital survival” has become a reality that everyone must accept. From information segmentation to online marketing of various free platforms based on blockchain technology, to registration and receipt platform for product development and startup, blockchain technology technology has also played an important role. Blockchain-based business. , blockchain technology makes this information, usually black boxes, easy to access, traceable and difficult to falsify.

Under the circumstances, there is a particular advantage of the blockchain: "cannot" solve the problem of proof of deposit of relations, "distribution" solves the problem of data sharing, "the consensus mechanism" solves the problem. data asymmetry issues, and "smart contracts." "solves the challenge of trusting multiple partners.

In fact, blockchain is designed to build trust in the business world, by connecting businesses and building trust, it can lead to the development of supply-chain supply chain relationships and provide competitive services to businesses. and consumers.

Leadership has proven that growing digital business and promoting digital transformation can lead to better growth and new competitive advantages.

To support the development of scientific research and technology, the direction of technological development must be determined correctly, and if the decision is correct, the moment can be seized. The “14th five-year plan” and an extension of the long-term plan for 2035 were presented as “we are entering the digital age and unlocking the potential of historical information”. Innovation has continued to support the digital transformation represented by current blockchain technology. It is increasingly recognized that digital technology and a wide range of technologies are increasingly interconnected and leading to the digital transformation of industry. Our country applies political guarantees to support the growth of the digital industry, and its large home businesses also provide a lucrative environment for the use of technology. In its increasing development, blockchain technology will provide new and more powerful engines for the digital transformation of the Chinese economy and open up new and wider areas.