Blockchain rises to the second anniversary of national strategy! More than 60% of the world's patents come from China, and the overall expenditure scale will reach $2.28 billion in the next three years

China Times (www.chinatimes.net.cn) reporter Zhao Yi Hu Jinhua reported from Shanghai

Blockchain is a product of the era of the digital economy. On October 24, 2019, the Political Bureau of the CPC Central Committee held the 18th collective study on the development status and trend of blockchain technology, emphasizing that "the integrated application of blockchain technology plays an important role in new technological innovation and industrial change, and it is necessary to take blockchain as an important breakthrough in core technology and independent innovation, clarify the main direction of attack, increase investment, focus on overcoming a number of key core technologies, and accelerate the development of blockchain technology and industrial innovation."

In the past two years, China's blockchain industry has developed rapidly. According to Wisdom Bud data, as of October 25, 2021, nearly 50 countries and regions and more than 7,800 companies have participated in blockchain-related patent applications, with a total of about 55,000 patents. Among them, China is currently the country with the largest number of patent applications, with an application volume of about 33,000, accounting for 63%. According to the "IDC Global Blockchain Spending Guide", IDC predicts that the overall expenditure of China's blockchain market will reach $2.28 billion in 2024, with a compound annual growth rate of 51%.

"With the support of national policies for the development of blockchain technology, there will be more and more breakthroughs and innovations around blockchain technology," Zhang Chao, vice president of Ouke Cloud Chain, told the China Times reporter, "The future industry will focus on the development of blockchain platforms, which can effectively carry out targeted and systematic iteration and upgrading of smart contracts, consensus algorithms, distributed systems and other technologies involved in blockchain technology, and break through the technical bottlenecks of application." At the same time, it is necessary to improve the different application directions of the blockchain platform, focusing on process optimization, cost control, talent training and even emerging business models in the application landing process, which can form an effective practice + promotion and break through the model bottleneck of blockchain applications. ”

Policy escort, multi-field innovation

The reporter found through combing that since the beginning of this year, the policy to promote the development of the blockchain industry has been continuously introduced, and on March 13, 2021, the "14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Outline of Long-term Goals for 2035" was officially released, which clearly proposed that the alliance chain as a representative of blockchain technology has a wide range of applications in the fields of people's livelihood, government affairs, and economy. Since then, local governments have also issued local policies related to the "14th Five-Year Plan", and blockchain has become a hot word. According to the reporter's incomplete statistics, more than 30 provinces and cities combined local characteristics and development conditions to propose specific content of developing blockchain technology.

In June, the Ministry of Industry and Information Technology and the Cyberspace Administration of China jointly issued the "Guiding Opinions on Accelerating the Application and Development of Blockchain Technology", which clearly pointed out that by 2025, the comprehensive strength of the blockchain industry will reach the world's advanced level, and the industry will begin to take shape. It is proposed to cultivate "famous products, famous enterprises and famous gardens". It can be said that the development of blockchain enterprises has entered a very favorable period of policy opportunities.

On October 15, 18 departments and units, including the Central Cyberspace Administration, the Central Propaganda Department, and the General Office of the State Council, organized the pilot action of national blockchain innovation and application, and issued the Notice on Organizing the Declaration of Blockchain Innovation and Application Pilots. The Notice proposes to carry out industry-based pilots in 16 areas in four categories, such as the real economy, social governance, people's livelihood services, and financial technology, including key aspects such as "blockchain + manufacturing", "blockchain + energy", "blockchain + trade finance", "blockchain + risk control management", "blockchain + equity market" and "blockchain + cross-border finance".

In this regard, Analysys senior analyst Su Xiaorui said that in recent years, the policy environment of the blockchain industry has gradually stabilized, related industrial clusters have gradually formed, and while blockchain-related support policies have been introduced in various places, the number of blockchain industry institutions has continued to grow, in addition, blockchain technology-related research and development patents are in the process of continuous deepening.

In Su Xiaorui's view, blockchain, as a product of the digital economy era, belongs to new technologies along with big data, cloud computing, artificial intelligence, etc., covering a large number of innovative elements, and can contribute to the structural transformation of China's economy, promoting the development of the digital economy and promoting the high-quality development of society. In the future, it is expected that blockchain-related industries will continue the previous innovation vitality and achieve better growth in terms of market size.

The development of industrial blockchain is timely

According to the "New Trends on the Chain: China Blockchain Industry Development Census Report (2020)", as of December 2020, a total of 64,062 enterprises across the country contained the word "blockchain" in industrial and commercial information such as enterprise names/former names, business scope or product information, an increase of 52.88% over the total at the end of 2019. The revenue of blockchain companies in 2020 is stable and rising compared with 2019, some of which have basically achieved breakeven, and a small number of companies have even begun to make profits. More than 66 enterprises have bid for 65 government-related blockchain projects/platforms in 2020, with a total bid amount of more than 202.9022 million yuan.

"At present, blockchain-related industry standards are also constantly improving, and the leading and participating institutions are both regulatory authorities, industry associations and blockchain-related leading enterprises, and rich participants can provide more detailed and professional detailed detailed content for improving blockchain standards." Su Xiaorui said.

Su Xiaorui believes that there are still two problems to be improved in the process of combining blockchain and industry: one is that the relevant top-level system needs to be further improved; second, the formulation and landing of some industry standards, especially the implementation, still needs to be strengthened; in addition, how to integrate innovative elements such as blockchain into practical applications, while improving efficiency while taking into account the security of technology still needs to be considered.

According to the "2021 China Blockchain Application Market Report" released by Sullivan and the Leopard Research Institute, the overall application of blockchain in China is mostly in the exploration period, and its application in vertical industries such as trade, logistics, finance, government affairs, intellectual property rights, agriculture, energy, education, and medical care is relatively in-depth, and the application potential in vertical industries such as entertainment, social public services, social services, daily consumption, and industry is to be developed. For example, in the trading industry, blockchain technology can be effectively applied to trade scenarios to improve efficiency, reduce costs and reduce regulatory difficulties.

"In China's economic and social development, the blockchain industry is more in a supporting role, as a technology that can be universally applied, like water, or electricity, or the Internet, throughout all walks of life." In the future, all walks of life may be inseparable from the blockchain technology, which can improve the efficiency of various social activities and economic activities, reduce the cost of consumption in the middle, and thus improve the productivity of society. Zhang Xuefeng, a financial commentator, told the China Times reporter.

In the view of independent economist Wang Chikun, many application scenarios of blockchain stay on paper, some of which are only "pieces of flowers", the scale is still small, far from meeting market demand, and some are gimmicks. Blockchain is still a new thing, according to the life cycle stage, the blockchain is still in the formation stage, in this stage only some enthusiasts to taste the early, the industry consumption growth is slow, industry investment began to form a scale, but did not form a large area of production capacity, the scale of supply is limited, the blockchain consumer market to be cultivated.