"2021 World Blockchain Conference · Hangzhou" Quotes Collection

Super Typhoon "Fireworks" is about to make landfall in Zhejiang, and the strong winds and heavy rain have already arrived in Hangzhou, but this cannot dampen the enthusiasm of blockchain enthusiasts. On July 24, the "2021 World Blockchain Conference · Hangzhou" opened at the Academic Exchange Center of Hangzhou Future Science and Technology City. During the opening ceremony this morning, nearly 2,000 seats in the main venue were fully occupied, with many enthusiasts standing to listen, setting a record for attendance in previous years, reflecting an unprecedented heat in the blockchain industry.

This World Blockchain Conference is being held in Hangzhou for the first time! From Wuzhen and Wuhan to Hangzhou, the fourth World Blockchain Conference gathers new imaginations. This conference is hosted by Hangzhou Timestamp Information Technology Co., Ltd. (Babbitt) and supported by institutions such as the Hangzhou Future Science and Technology City Management Committee. This year's theme is: Infinite Future. At that time, blockchain practitioners from around the world will gather together, looking towards the infinite future of the industry with a broad vision.

In this morning's agenda, heavyweight guests attended, including Ethereum founder Vitalik Buterin, Professor Li Guoquan from Singapore, Li Daokui from Tsinghua University, Liu Jiahai, Secretary-General of the Hangzhou Blockchain Technology and Application Association, Jin Ge from Ant Group, and Yang Shuo from Fosun Group.

The guests shared many insightful quotes, and here are some highlights compiled by Babbitt:

The Biggest Highlight ------ Vitalik Buterin

Vitalik Buterin is undoubtedly one of the most anticipated guests, and many blockchain practitioners braved the storm to attend the conference just to see him.

Ethereum is at a historical turning point. Ethereum 2.0 will transition from PoW to PoS, but what comes after 2.0? What does the future hold for Ethereum?

Highlight 1: Ethereum's technical vision is for short-term rapid improvement and long-term stability

In his keynote speech titled "What Will Happen After Ethereum 2.0?", Ethereum founder Vitalik Buterin mentioned that Ethereum's basic technical vision is to attempt rapid improvements in the short term while stabilizing in the long term. Because in the long run, I believe blockchain really needs to stabilize, become more reliable, and provide more guarantees to users, ensuring that things won't change, so that users can feel secure and develop based on that. However, in the short term, these technologies have already been developed. I believe that in the next 2 to 3 years, we will see that using Ethereum will become cheaper, and we will see more different types of applications using Ethereum, making the Ethereum ecosystem more interesting.

Highlight 2: Rollup has the potential to increase Ethereum's TPS to 100,000 transactions per second, or even more

Vitalik also stated that at the current stage, Rollup can scale to about 4,000 to 5,000 transactions per second. Assuming the entire Ethereum ecosystem can utilize Rollup, and with data sharding, we might have 20 to 50 times more capacity. Rollup has the potential to increase Ethereum's TPS to 100,000 transactions per second, and even more in the future. Sharding will first add some basic security, then increase more security, and sharding will undergo more and more improvements.

Li Guoquan: The digital RMB is the most complete and flexible central bank digital currency in the world today

Li Guoquan, Vice Chairman of the Singapore Economic Association and Professor at Singapore's Singapore University of Social Sciences, stated that in the realm of central bank digital currencies (CBDC), whether retail or wholesale, the digital RMB is the most complete and flexible central bank digital currency in the world today. The other two very successful and meaningful projects are Cambodia's Bakong project and the Bahamas' Sand Dollar.

Although they are all well-designed and inclusive finance, only the digital RMB covers most of the details, has a reasonable layout, and advanced technology. A new international layout for economic development that aligns security guarantees with digital economic growth has already formed.

Liu Jiahai, Secretary-General of the Hangzhou Blockchain Technology and Application Association: The development of blockchain relies on government support and guidance

Liu Jiahai, Secretary-General of the Hangzhou Blockchain Technology and Application Association, elaborated on three viewpoints regarding blockchain development in his opening speech at the conference: Viewpoint one, the development of blockchain relies on government support and guidance. Viewpoint two, blockchain should focus on serving the real economy, promoting the integration of blockchain with the real economy, and empowering the real economy with blockchain. Viewpoint three, blockchain should still emphasize the research and development of core underlying technologies.

He also stated that it is necessary to clarify the main direction, promote collaborative breakthroughs, focus on key technologies such as smart contracts, consensus mechanisms, cryptographic algorithms, and inter-chain connectivity, accelerate the deep integration of blockchain with new generation information technologies such as artificial intelligence, big data, industrial internet, and vehicle networking, and promote collaboration both on-chain and off-chain, integrating innovation and development.

Li Daokui: Blockchain technology is the foundation for future information exchange in the virtual world

Li Daokui, Director of the Institute for Research on Chinese Economic Thought and Practice at Tsinghua University, delivered a keynote speech titled "Blockchain + Finance: Opportunities, Trends, and Challenges." Li Daokui analyzed the three stages of blockchain: the first stage is the widely recognized digital currency stage represented by Bitcoin; the second stage sacrifices some decentralization to improve efficiency or meet regulatory and review needs, with the main application scenarios being the transmission and trading of highly valuable but less information-rich data; blockchain technology is a foundation for future information exchange in the virtual world, and in the third stage, blockchain will become the "water" and "electricity" of the fourth industry.

Jin Ge from Ant Group: The integration of blockchain and multiple technologies to solve business problems is an inevitable development trend

Jin Ge, Vice President of Ant Group's Intelligent Technology Business Group, stated that with the arrival of large-scale industrial applications, to truly apply blockchain to scenarios to solve customer problems, it is necessary to integrate multiple technologies. It requires improvements in consensus efficiency at the underlying technology level of large-scale networks, as well as technologies like privacy computing to address blockchain's shortcomings in large-scale data joint modeling and federated learning, and technologies similar to AI and IoT to solve the connection between the physical and digital worlds. Therefore, before the arrival of large-scale industrial applications, the integration of multiple technologies to solve business problems is an inevitable development trend.

Wang Lei: The combination of blockchain and the real economy has become the current mainstream blockchain application

Babbitt, in collaboration with Qichacha and other enterprises and institutions, released the "Future Blockchain Industry Development Report 2021" on-site today. Wang Lei, CEO of Babbitt, stated that the amount of financing for blockchain enterprises is increasing, with many exceeding 100 million. Hangzhou enterprises stand out, with six of the top ten blockchain financing events in China involving companies from Hangzhou. Among the current five major popular application directions in the blockchain industry, the combination of blockchain and the real economy occupies a mainstream position.

Yang Shuo from Fosun Group: The spring of industrial blockchain is coming

Yang Shuo, General Manager of the Blockchain Industry Development Department of Fosun Group, stated that from the perspective of industrial integration, the entire world is viewing this industry from different systems. We are very optimistic and believe that the spring of industrial blockchain is coming!

Meng Yan: The characteristics of future industrial blockchain unicorns are based on the real economy

Meng Yan stated that after the digital RMB is implemented, it may completely streamline many processes. The characteristics of domestic unicorns in the future industrial blockchain will be practical, considering how to use blockchain from the perspective of the real economy.

Gao Hang: The combination of big data and privacy computing with blockchain is the most valuable and currently the most worthwhile investment point

Gao Hang, founder and chairman of Shuqin Technology, stated that there are three criteria for how to visualize blockchain application scenarios: the application scenario must be mainstream and supported by long-term policies; the application scenario must have genuine demand with a willingness to pay; and the application scenario must have a gathering effect, as the characteristic of industrial blockchain is to subtly influence. The combination of big data and privacy computing with blockchain is the most valuable and currently the most worthwhile investment point.

Conference official website: https://www.8btc.com/wbc-2021

Special report: https://www.8btc.com/special/6648081

Video live stream + highlight gallery link: https://as.alltuu.com/album/1106534046/