Interview with li lihui: where is the next stop of digital economy?

Interview with li lihui: where is the next stop of digital economy?

Source: xinhua net

Editor's note: a new round of technological revolution and industrial transformation is in the ascendant, and the digital economy is injecting new vitality into China's economic growth. The recently held central economic work conference clearly stated that "digital economy should be vigorously developed". Li lihui, former President of bank of China and leader of block chain research group of China Internet finance association, was invited to analyze and explain the trends and points of China's digital economy innovation and development.

Question 1: why develop the digital economy?

Li lihui: the central government attaches great importance to the development of digital technology and digital economy, which is in line with the current trend of global technological innovation and economic development. Digital technology should be the integration of various digital technologies, including block chain, big data, cloud computing, artificial intelligence, etc. I think the biggest advantage of digital technology application is that it can greatly improve economic efficiency.

Why does it make the economy more efficient? Because [digital technology] can build a more direct and efficient network. In the past, we said the world was flat. In a plane, the connection between enterprises and enterprises, between individuals and individuals, and between people and things is flat. However, the problem caused by planar connection or architecture is that there are many nodes and low efficiency.

With digital technology, especially block chain technology, cloud computing technology, and artificial intelligence technology, I think it is possible to build a three-dimensional, folded, interactive architecture in the future. In this architecture, the interaction between point-to-point and end-to-end in the past will be more direct, with no need to go through more central nodes to further improve efficiency. Blockchain also has the important advantage of building a digital trust through mathematical algorithms.

We can imagine, in an interactive three-dimensional architecture, there is a relationship of digital trust, so that the whole economy will operate more efficiently, can achieve lower costs than in the past, higher efficiency, can make the whole economic and social development faster.

Question 2: what is the stage of block chain research and application in China?

Li lihui: after ten years of development, blockchain technology is still in the primary application stage. Now there are some large-scale commercial applications, but the scale is still small. In addition, many applications are experimental.

Therefore, if we can sum up the current development state of blockchain technology, it is that the blockchain technology is still not particularly mature, the bottleneck of large-scale and reliable application of blockchain has yet to be broken, and we are still in a critical period of opportunity for blockchain technology and industrial innovation.

Block chain is a variety of underlying technological innovations, such as P2P peer-to-peer network, and some cryptography algorithms as a component technology, it is relatively mature. But when we integrate existing component technologies, that creates new requirements. In addition, blockchain also has specific technologies, such as consensus algorithms and smart contracts, that need to meet the needs of reliable applications at scale, but also need to be further innovated to make it more mature.

One of the most important features of using blockchain or other digital technologies in China is that China is a huge market. In the super large market, any digital technology innovation, the application of digital technology, must meet the super large market high concurrency requirements. This is also the direction for further innovation, further improvement and further maturity of block chain technology in the future.

Question 3: in the context of the hot topic of block chain, how should we treat the behavior of "coin speculation"?

Li lihui: bitcoin is bitcoin and blockchain is blockchain. In 2009, a concept called the virtual currency was introduced based on the blockchain technology platform. Speaking of bitcoin, we are also talking about virtual currency. Virtual currency has two most important defects. Technically, it is based on the platform of public block chain. Under the framework of decentralized public block chain, the virtual currency represented by bitcoin has low transaction efficiency and slow speed, which cannot meet the requirements of large-scale application.

In addition, the virtual currency represented by bitcoin is too speculative, so it is doomed not to become a popular or able to enter the public social life of the payment tool, or a so-called form of this currency. Because of the problems of virtual currency including bitcoin, there have been some speculation and speculation about virtual currency around the world, including in China. In this regard, it is very necessary to strengthen supervision. The application and development of any new technology, in the process of its development, its own security needs to be concerned. In addition, any new concept may be hyped, which requires our special attention, in order to maintain the healthy and sustainable development of the new technology.

As far as I am concerned, behaviors that may pose significant technical or financial risks, or systemic financial risks, must be strictly regulated. We will never allow a country as big as China to face any systemic or systemic financial risks. This is actually a bottom line for financial regulation in all countries.

In addition, we should pay special attention to, protect and promote the experimental innovation and development of new technologies, and create a better environment for the innovation and wide application of new technologies, which can help them grow.

Original address:http://www.xinhuanet.com/fortune/2020-01/14/c_1125454164.htm

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia