Who solves the legal compliance problem of metacosmity? Ouke Cloud Chain Zhang Chao pointed out that the key lies in "data governance"

On November 26, the 2nd Blockchain Rule of Law Summit Forum and the 14th "Innovation and Rule of Law Forum" of the China Society of Science and Technology Law were successfully held in Shanghai. The forum discussed blockchain technology and applications, focused on blockchain compliance and data security, debated metaversity compliance and legal issues, and promoted the high-quality development of the digital economy.

In the selection process, Ouke Cloud Chain, the world's leading blockchain industry group, won the "2021 China Blockchain Rule of Law Major Contribution Award". In the era of digital economy, the development of meta-universe and blockchain need to be escorted by data security, and Ouke Cloud Chain has built the "Great Wall of Steel" for data security with its "On-Chain Heavenly Eye" products, which has made outstanding contributions to promoting the construction of the rule of law in a digital power.

At the meeting, Zhang Chao, vice president of Ouke Cloud Chain, delivered a keynote speech entitled "Opportunities and Prospects of Blockchain Big Data". Zhang Chao believes that whether it is the metacosm or the combination of blockchain and real industry, in terms of compliance governance, we must return to the source, that is, the database, and the core of database governance is the processing ability of basic data.

Zhang Chao said that the blockchain itself is a database technology, a distributed and immutable database. Through this kind of database, due to the immutability and traceability, the doctrine of ledger, the doctrine of trust, and the doctrine of quantum can be attacked by quantum computing. On top of this in the application layer, including the investment field, there are various industries are also landing, but at present, the technology and application still have a certain delay, the face recognition technology we are using now, in the 90s all the algorithms have been very clear from the algorithm layer landing, but after more than 20 years we can enjoy the face recognition such services, including neural network algorithms to identify a person, and the use of the scene, and the social environment at that time, technical conditions are closely related.

In recent years, the Chinese government has begun to vigorously lead the original innovation of blockchain, including new infrastructure projects, many provinces, municipalities and autonomous regions have also introduced relevant policies, and the national "14th Five-Year Plan" outline also proposes to promote blockchain technology innovation, cultivate and strengthen emerging digital industries such as blockchain, and accelerate the promotion of digital industrialization. This is the first time that blockchain has been included in the national five-year plan.

However, in the market, the real landing of blockchain at the moment is still in the financial field, such as many projects in the public chain represented by Bitcoin and Ethereum, and many overseas start-up companies take blockchain and big data as an entrepreneurial direction. In some overseas markets, blockchain assets can even be securitized, and governments master taxes through on-chain data analysis.

However, with the wide application of blockchain, issues such as blockchain legality and compliance have emerged, and the construction of the rule of law in the blockchain field is facing severe challenges.

Zhang Chao said that the use of black and gray production for public chain virtual assets outside the alliance is forming a new type of crime, and the traditional black industry still exists. Digital currencies have strong connectivity in other areas abroad, and even have higher liquidity than gold. Why do black ash products use them? They are secretive, immutable, and have natural advantages as accounting systems.

The practice of Ouke Cloud Chain is to label the data on the chain through the products of the application layer. It is understood that there are currently more than 700 million bitcoin-like addresses in the world, and Ouke Cloud Chain has labeled more than 100 million addresses, which involves mathematics, classification, neural network algorithms and clustering, including simulated application layer programs. Ouke Cloud Chain can judge that this is an online gambling platform through the closing address of a case bitcoin, as well as the number of people involved, the amount of funds involved, through simulating the operation process of the gambling platform, monitoring when the criminal suspect goes to the exchange to become realistic, providing the police with the evidence investigation procedure, getting the KYC of the criminal suspect, and finally bringing him to justice. In 2020, Ouke Cloud Chain assisted the public security organs to jointly recover assets worth more than 10 billion yuan.

Zhang Chao believes that whether it is the metacosmity or blockchain credit information, or the efficiency of blockchain-enabled social governance, the combination of real industries, etc., it must return to the source, that is, a database, is a distributed database, as for how these data are applied, it is enough to distribute these data from the process of confirming rights, circulation and use. Ouke cloud chain has been explored for 8 years, has a certain methodology, no matter which field of blockchain can blossom and bear fruit, Ouke cloud chain can contribute to the ability of basic data processing, escorting the development of digital power.