The "World Blockchain Conference" was held in the historical and cultural city of Wuzhen from June 28 to June 30, 2018. With the theme of "Seeing the Future in 2018", the conference invited more than 100 elite people from the industry, experts and government officials to attend, and attracted more than 4,000 industry insiders to the scene. The summit consisted of a main venue, 9 sub-meeting venues, and a total of 48 booths, and had a huge brainstorming session.
During the conference, more than 50 senior guests shared a number of practical case studies through their speeches. Veteran practitioners and long-term enthusiasts of the blockchain industry gathered here at this conference to strengthen the exchanges and interactions between colleagues from both home and abroad, and they all jointly explored and shared the problems and challenges facing the industry, and looked forward to promoting a healthier and rational development of blockchain technology and commercial applications in China.
The industry roundtable meetings put on the table the opportunities and challenges that the blockchain industry will face; everyone expressed their own opinions and shared in the debates about the actual current situation of the blockchain and blockchain industries. The founder of the YOYOW project, Bai Cai, was invited to participate in the roundtable meeting and expressed his professional insights on hot topics concerning the industry. As a public blockchain project in the content field, YOYOW aims to provide value-creating services for content creators such as Zhihu and other UGC content platforms.
Bai Cai has been personally focusing on blockchain technology since 2013 and is a veteran witness of, and participant in, the growth of the industry.
In addition, Bai Cai, as a special guest, answered three important questions:
1）What was his view on the practitioners' differentiation of blockchain technology into 1.0, 2.0 or even 3.0?
Bai Cai believes that this differentiation is not scientific, he gave an example of web3.0, that was once thought of for everyone, but did not happen. Instead, it was replaced by the mobile Internet era, and the emergence of applications for taxis, takeaways, etc. He believes that after the completion of the basic infrastructure of the blockchain industry, more development should focus on industry applications.
2）There are views that it is impossible for high efficiency, decentralization, and security to appear in the blockchain application at the same time?
Bai Cai stated that these problems could be effectively resolved in specific applications, just as the Internet uses a seven-layer protocol to solve problems, blockchain also does not need to solve all of the problems on one level.
3）2018 has been described as the year of when hundreds of chains bloom, what kind of future does our panel see, and what challenges will blockchain face? Will blockchain face such challenges as the bubble that the Internet experienced as it began to grow?
In response, Bai Cai responded that the development of public chains is a high-cost, high-tech business, which has to be coupled with technological growth in a synchronous manner. Those projects that entered into the industry earlier will have more obvious advantages, and the battles at the platform level will probably end this year. As to relating it to the Internet bubble, the giants BAT were not the winners at that time, they merely survived; and the future of the blockchain will also be an era where those who remain as survivors will be kings.