Blockchain-plus will give fresh momentum to economic upgrading

AT THE 18TH COLLECTIVE STUDY SESSION of the Political Bureau of the Communist Party of China Central Committee on Thursday, General Secretary Xi Jinping identified blockchain as "a crucial breakthrough point for the indigenous innovation of core technologies". The top leader's forward-looking approach has made blockchain the focus of financial capital, the real economy and public opinion. People's Daily comments:

Cutting-edge technologies have always been an important content in the collective study sessions of the Political Bureau, from cyber power to big data, from media integration to blockchain. Learning forefront technological changes at such sessions reflects the forward-looking judgment of China's leaders and their sharp insight into emerging trends and their capability to lead the country's industrial reform and economic transformation.

Blockchain involves many challenges, but from an applied point of view, it goes beyond specific technical problems, and uses fundamental principles to think about complex phenomena. To put it simply, blockchain is a distributed shared ledger and database that is decentralized, falsification-free and traceable, thus guaranteeing its "honesty" and laying a foundation for the creation of trust.