China Central Television Takes U-turn on Blockchain
Blockchain technology has been one of the most controversial topics in China due to the government ban on ICO last September. CCTV Finance channel used to broadcast a program named “Three Questions on Blockchain” and revealed the chaos in the blockchain market. It was seen as a sign of tight supervision of the blockchain industry for the period. However, last week, CCTV Finance described blockchain in the below three points during their “Dialogue” program:
1. “Blockchain is the second Internet era.”
2. “The value of blockchain is ten times that of the Internet.”
3. “Blockchain is a machine that creates trust.”
This description can undoubtedly be regarded as the most moderate and positive report in CCTV’s broadcast history in terms of the blockchain industry. The program focuses on the application of blockchain in real life. Waltonchain CSO Welson Wong was invited as the special guest to participate in recording of this program.
Don Tapscott, the well-known author of “Blockchain Revolution” was one of the speakers. He claimed:
“We’re moving from an internet of information to an internet of value. If I send you some information — a PDF, a powerpoint — I keep the original. That’s fine for information, but it doesn’t work for assets, things of value like money and stocks and intellectual property and our identities and music, and art. Copying those is a bad idea. And cryptographers have been unable to solve it until the creation of blockchain. Now, for the first time ever, people and organizations can do transactions peer to peer.”
Waltonchain’s goal is to combine blockchain with the Internet of Things and use its unique RFID technology to trace the real source of merchandise and its whole circulation process, so as to realize a real “Value Internet of Things” era.
During the program recording, Xu Hao, the Executive Deputy Mayor of Guiyang City mentioned: “I think that the greatest value of blockchain is to establish a number of rights and solve data ownership. Regardless of how blockchain is applied, the fundamental is that the application of blockchain technology ensures data ownership, which creates a database for all transactions. This is the greatest value of blockchain.” It is also the direction that Waltonchain is working toward.
The purpose of Waltonchain is to build an underlying commercial public ecochain. On this public chain, businesses can build a variety of child chains according to their own needs. The entire process of production, logistics, warehousing and retail circulation of all commodities will be monitored. Customers will be able to trace the real source of goods and all circulation processes on the Waltonchain blockchain.
Through “Dialog” on CCTV, we can have a glimpse on the central government’s attitude toward blockchain: The blockchain technology and its applications are taken optimistically and are encouraged. But any fraud play under the name of blockchain is absolutely not allowed. As a global leader in the blockchain + IoT industry, Waltonchain will diligently engage in the innovation of core technologies and contribute to the global development of the blockchain industry.
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