Chinese President Jinping Xi emphasized blockchain is an important breakthrough for independent innovation of core technologies during the 18th collective study of the Political Bureau of the Central Committee. He said, we should accelerate the development of blockchain technology and product.

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He said, the integrated application of blockchain technology plays an important role in new technological innovations and industrial changes, we must take the blockchain as an important breakthrough for independent innovation of core technologies, clarify the main direction, increase investment, focus on a number of key core technologies, and accelerate the development of blockchain technology and industrial innovation.

Chen Chun, a professor at Zhejiang University and an academician of the Chinese Academy of Engineering, explained the issue and discussed opinions and suggestions.

The comrades of the Political Bureau of the CPC Central Committee listened carefully to the explanations and discussed them.

Xi delivered a speech while presiding over the study. He pointed out that:

The application of blockchain technology has been extended to digital finance, Internet, intelligent manufacturing, supply chain management, digital asset trading and other fields. At present, major countries in the world are accelerating the development of blockchain technology. China has a good foundation in the field of blockchain. It is necessary to accelerate the development of blockchain technology and industrial innovation, and actively promote the development of blockchain and economic and social integration.

It is necessary to strengthen basic research, enhance the original innovation ability, and strive to let China take the leading position in the emerging field of blockchain, occupy the commanding heights of innovation, and gain new industrial advantages.

It is necessary to promote collaborative research, accelerate the breakthrough of core technologies, and provide safe and controllable technical support for the development of blockchain applications. It is necessary to strengthen the research on blockchain standardization and enhance the right to speak and make rules in the world.

It is necessary to speed up industrial development, use market advantages, and further open up the innovation chain, application chain and value chain. It is necessary to build a blockchain industry ecology, accelerate the deep integration of blockchain and frontier information technologies such as artificial intelligence, big data, and internet, and promote integrated innovation and integration applications. It is necessary to strengthen the construction of the talent team, establish and improve the personnel training system, build a variety of high-level talent training platforms, and cultivate a group of leading figures and high-level innovation teams.

It is necessary to seize the opportunity of blockchain technology integration, function expansion and industry segmentation, and play the role of blockchain in promoting data sharing, optimizing business processes, reducing operating costs, improving synergy efficiency, and building a credible system.

It is necessary to promote the deep integration of the blockchain and the real economy, and solve the problems of difficulty in financing loans for SMEs, difficulties in controlling the risks of banks, and difficulties in departmental supervision.

It is necessary to use blockchain technology to explore digital economic model innovation, provide power for creating a convenient, efficient, fair and competitive, stable and transparent business environment, and provide services for promoting supply-side structural reforms and realizing the effective docking of supply and demand in various industries, in order to accelerate new and old kinetic energy. Provide support for continuous transformation and promote high-quality economic development.

It is necessary to explore the application of “blockchain+” in the field of people’s livelihood, and actively promote the application of blockchain technology in the fields of education, employment, pension, precision poverty alleviation, medical health, commodity anti-counterfeiting, food safety, public welfare, social assistance, etc. The masses provide more intelligent, more convenient and better public services.

It is necessary to promote the combination of the underlying technical services of blockchain and the construction of new smart cities, explore the promotion and application in the fields of information infrastructure, smart transportation, energy and power, and improve the level of intelligence and precision of urban management. It is necessary to use blockchain technology to promote greater inter-connectivity between cities in terms of information, capital, talents, and credit information, and ensure the orderly and efficient flow of production factors within the region.

It is necessary to explore the use of the blockchain data sharing model to achieve the joint maintenance and utilization of government data across departments and regions, promote business synergy, deepen the “run-up once” reform, and bring better government service experience to the people.

It is necessary to strengthen the guidance and regulation of blockchain technology, strengthen the research and analysis of blockchain security risks, closely track development trends, and actively explore development laws.

It is necessary to explore the establishment of a safety guarantee system that adapts to the blockchain technology mechanism, and guide and promote blockchain developers and platform operators to strengthen industry self-discipline and implement safety responsibilities.

It is necessary to implement the rule of law network into the management of blockchain and promote the safe and orderly development of blockchain.

Relevant departments and their responsible leaders should pay attention to the status and trend of blockchain technology development, improve the application and management of blockchain technology capabilities, and make blockchain technology play a more important role in building network power, developing digital economy, and helping economic and social development great effect.

Every step that Ultrain has taken since its inception has consistently implemented the policies mentioned by the national leaders. Ultrain is the world’s leading trust computing infrastructure. It is one of the few public chains in China that follow national requirements. Based on independent innovation, RPOS consensus, privacy protection, zero-knowledge proof, main-side multi-chains, smart contracts and other core technologies. We really provide the decentralized, efficient and secure first commercial public chain for the real economy.

According to People’s Daily News, the Blockchain Research Institute has recently published the “Blue paper on Blockchain Applications: Chinese Blockchain Application Development Research Report (2019)”. The book invites a number of central institutions and scientific research unit leaders, as well as experts and scholars from well-known universities to participate in the compilation to comprehensive discuss the hot issues facing the development of Chinese blockchain.

Mentioned in the book that it is necessary to strengthen the combination of blockchain and sharing economy. On the basis of solving the problem of trust, relying on the e-commerce system of the shared platform and the design of the certificate, effectively promote the sharing of assets in multiple chains. The transaction flows between the two, enabling the programmable economy of the shared economy.

This is in line with what Ultrain is currently doing. Ultrain has launched the world’s first blockchain independent innovation social e-commerce platform: Super Item Relationship(S.I.R)! The S.I.R firmly protects the customer’s customer data, better manages the visits of all merchants and purchases the customer’s relationship network and incentive settlement, and can realize the sharing of user groups by multiple merchants in the encrypted state, creating more revenue, and is hoping to try in the future. The convenience of the various types of businesses of social e-commerce. Ultrain aims to expand the C-side application through social e-commerce, create a true private domain traffic pool, and create a decentralized financial infrastructure in the actual business scenario of the service.

At present, the Ultrain has been widely used in many industries such as e-commerce, supply chain, sharing economy, medical care, media entertainment, new energy, etc., insisting on independent innovation and empowering the real economy. I believe that with the strong support of the government, we will be able to have a new future.