Blockchain Laboratory Settles in Xiong'an, Deepening Smart City Construction

Recently, the blockchain field has seen several significant developments. The People's Bank of China digital currency project has made substantial progress, and several large commercial banks have begun internal testing. At the same time, the blockchain service network (BSN), led by the National Information Center, is about to launch. Behind these exciting news is the long-term exploration and preparation by the government and enterprises.

It is worth noting that both fiat digital currencies and self-controlled blockchain platforms have been piloted in the Xiong'an New Area. As a national-level new area, Xiong'an is at the forefront of blockchain applications.

• Launched the Blockchain fund management platform in 2017
• Launched a blockchain rental platform in early 2018
• Achieved the first case of "Blockchain + Order Financing" in November 2019
• As of October 2019, the Blockchain fund management platform has issued salaries to 110,000 people.

On March 31, 2020, the Xiong'an New Area Blockchain Laboratory was officially established, marking a further systematic deepening of blockchain research and application locally.

Li Jun, the deputy director of the laboratory, stated that the original intention of establishing the laboratory was to research the application of Blockchain technology in the construction of smart cities and the development of the digital economy. He pointed out that there is currently a lack of institutions in China that specifically study Blockchain in the context of smart city construction. The laboratory will aggregate existing Blockchain applications in Xiong'an and will output knowledge and technical capabilities in the future.

Regarding participating institutions, Li Jun introduced that large state-owned enterprises, state-owned banks, and universities have already joined the laboratory. He stated that the laboratory also welcomes small and medium-sized innovative enterprises to participate, and the relevant access mechanism is being formulated.

When discussing key research directions, Li Jun pointed out that it will focus on the construction of smart cities and the development of the digital economy. Specifically, it includes: 1) developing open-source Block suitable for the characteristics of smart cities; 2) turning Block into infrastructure; 3) researching relevant operational mechanisms, market standards, and methodologies.

Li Jun emphasized that the laboratory's blockchain technology research and development will adopt an open-source format. He believes that only open-source can reflect the core concepts of blockchain, such as transparency and the automatic execution of smart contracts.

Regarding the standard research and evaluation certification work, Li Jun stated that it is currently underway. He explained that the standards here mainly refer to the local standards and specifications required for the construction of Xiong'an. If done well in the future, there is hope to expand it into national or even international standards.

In terms of personnel composition, Li Jun introduced that the laboratory will create an open platform, welcoming talents from all sides to communicate and cooperate. Some inbound personnel will receive funding support, but the threshold is relatively high. Another group can bring their own projects to join, with relatively lower admission standards.

When it comes to the implementation of Blockchain applications, Li Jun believes that although the trend is clear, the specific scale and speed are difficult to predict. He stated that many so-called Blockchain applications are actually just ordinary information systems "dressed in Blockchain skin."

Li Jun pointed out that the existing Blockchain applications in Xiong'an are already relatively advanced, and the laboratory will focus on stringing these "scattered pearls" into a system. In the future, Blockchain applications in Xiong'an will cover more than a dozen fields and over twenty scenarios, including social governance, public services, and smart transportation.

Finally, Li Jun stated that although Blockchain has not been explicitly included in the new infrastructure category, it is closely integrated with new infrastructure fields such as 5G and artificial intelligence, and will surely benefit from it. He believes that if the Blockchain pilot in Xiong'an is successful, it is expected to develop into an independent industry in the future.