12 month 20 Japan , Jointly sponsored by Hangzhou Municipal People's government and NetEase 2020 Netease future conference was held in Hangzhou . At the conference , Vice chairman and executive director of China Wanxiang holdings 、 Wanxiang blockchain chairman and CEO Xiao Feng published a paper entitled 《 Internet and blockchain —— Business perspective 》 Keynote speech of .
* Here is the speech , According to the shorthand on the spot , Some of them do not affect the original intention ： At the Wanxiang blockchain summit two months ago , I have put forward , The overall technical architecture of blockchain , stay 2020 It has been basically built in , It can be compared to the last century 90 s , Internet TCP/IP The basic architecture of the protocol is completed ,（ Blockchain ） It's probably at this stage . In the future 5 Year time , Blockchain is more business innovation based on technical architecture . I will look forward to more in the future , How business innovation based on blockchain will happen . To better understand business innovation on the blockchain , We can compare the Internet , Look at the past 20 year , How does business innovation on the Internet develop and evolve , To the future 5 Business innovation on the blockchain has been better in 2010 、 A more visual understanding . My topic today is “ Internet and blockchain ”, A comparison will be made between the two from a commercial perspective .
（ One ）
Internet ： The base of information technology
& Blockchain ： The base of digital technology
First of all , First, from a technical point of view . The Internet is ICT Part of the technology , It's part of ICT . I see the Internet as the base of a series of information technologies . Information technology includes computers 、 All kinds of software engineering 、 operating system 、2G、3G、4G、5G…… These are all information technologies . These information technologies , If only in terms of Technology , Each has its own function and value . But string them together , Create a new business , You can't do without the Internet , therefore （ Internet ） It's the base of information technology . Blockchain is the same , It's the base of a series of digital technologies . What is digital technology ？ Cloud computing 、 big data 、 Artificial intelligence 、 Blockchain , These I call digital technology . They are different from ICT . These digital technologies , From a tool point of view , They all have great functions . But don't string them together , It's hard to create new business models that are born out of new digital technologies , I think blockchain is their base . This is the first point I want to make a difference .
（ Two ）
Internet ： Freedom of information is frictionless
& Blockchain ： Trust, freedom, no friction
second , The Internet as a whole , The solution is freedom of information 、 No friction 、 Release 、 communication 、 In exchange for 、 Interaction , What blockchain solves is freedom of trust 、 No friction , Build trust between each other . Academician Chen Xiaohong just said that “ No need to trust 、 No trust ” The problem of . All the Internet , From the initial BBS To micro-blog , And now all kinds of we media , In fact, we can't do without helping freedom of information 、 Flow without friction . Freedom is a right , Frictionless means the cost of releasing information 、 The cost of communication 、 The cost of interaction is reduced to zero . We use all kinds of Internet APP, It's almost free , And publish any information , There's no need to get some kind of permission in advance . Blockchain is called “ Freedom of trust 、 Frictionless system ”, The cost of trust is very high . When the cost of trust is reduced to zero , Human relations 、 Business relations 、 Social relations 、 The relationship between institutions will change dramatically . We want to make a business , First, build a trust . There is no such trust , Business is not viable , It's the same with the whole society , To make this society work effectively , Can make good progress , We have all kinds of laws 、 Third party accounting firms 、 Law firm , court 、 Police and so on . If anyone breaks his faith , It's going to be a lawsuit , Not only do you have to bear economic losses 、 Civil losses , Even criminal punishment . If we can reduce the cost of trust to zero , We can do a lot more than we do now , The space is much larger . These two are also huge differences between the Internet and blockchain .
（ 3、 ... and ）
Internet ： Traffic to liquidate
& Blockchain ： Data realization
Third , Internet commerce emphasizes the realization of traffic . All Internet platforms have one “ Traffic anxiety ”. I once read an article , It's in terms of traffic , How to evaluate the difference between e-commerce and social media in business model , It inspired me a lot ： E-commerce is looking for the entrance of traffic , And what social platforms are looking for is an outlet for traffic . There are already... On social platforms 9 Hundreds of millions of people 、10 Hundreds of millions of people , You just want to find the outlet of the traffic , See how to cash it in . So e-commerce has established its own platform economy model , Build your own traffic business model with Internet social media , Is different . One is to attract traffic like a black hole ; One is an ecological approach , hold “ half-life ” Give it to someone else . Whether you're looking for access to traffic , Or the outlet of the flow , It's all about flow to reflect your value . Blockchain does not gain value from the perspective of traffic , It's more about the realization of data . A guest said that , Blockchain based data is trusted data . On the basis of reliable data , And add some other digital technology , Such as privacy computing , Make data exchangeable . Trusted data can be exchanged , This is the foundation of AI . up to now , All the artificial intelligence we've seen requires a lot of data to train models , Make yourself closer to reality , It has certain predictability . But if the data isn't trustworthy , It takes a lot of money to process the data . If the data is trustworthy , So when using AI to train the algorithm , The cost will be much lower , There's a lot more data available . The realization of data and flow , It is also a huge difference between the Internet and blockchain on the commercial level . therefore , Starting a business in the field of blockchain , Or invest , You shouldn't think about traffic , this （ With the Internet ） There's a big difference . Because a lot of blockchain entrepreneurs say , I want to be a decentralized e-commerce , To be a decentralized social media , Or to do a decentralized business on the Internet , I don't think that's what blockchain should do . The Internet has done a good job , It shouldn't be blockchain . You can't just see that Internet e-commerce has generated a trillion dollar company , So use blockchain to do another e-commerce , Maybe we can get a trillion dollar company . You can't think like that , Because of this great technology ： Internet technology 、 Blockchain Technology , Different things should be solved . Blockchain technology was invented not to kill the Internet , And do it again . Blockchain is not here to do this .
（ Four ）
Internet ： Platform centered business
& Blockchain ： Ecological distributed Commerce
Fourth , The Internet is a platform economy . During this period, platform economy has become a hot word . Blockchain is no longer a platform for business innovation , It should be in an ecological way . The way of the platform , We can use a word ,Shareholder, Shareholder capitalism . The ecological way , We can also use an English word ,Stakeholder, Stakeholder capitalism . In the ecological model , More emphasis is placed on the co governance of all participants 、 share 、 To build . In the business model of Internet platform , There will always be one in the end “ Controller ”, Take most of the benefits from the platform , So the Internet is a centralized business model , What blockchain brings is a distributed business model . Look at the public chain , There are no shareholders , There's no board of directors or management , There are not even employees . Of course , It came to a “ The acme ”. But this “ The acme ” It has realized an ecological business entity in technology , It doesn't have a legal framework . Networks like bitcoin , It doesn't have a legal framework , There is no meeting of shareholders 、 Board of directors 、 management layer , There are not even employees , There is no office space , Floating in the Internet world , Business floating in the digital world . Bitcoin network has been running successfully for more than ten years , Such an ultimate technological experience , In fact, it brings a lot of new business innovation inspiration .
（ 5、 ... and ）
Internet ： The core of business is precision matching
& Blockchain ： The core of business is large-scale collaboration
The fifth , All the Internet businesses , If we look at its commercial core , In fact, it's all accurate matching under accurate portraits . Whether it's e-commerce or social media 、 video 、 Search for …… up to now , The core of all Internet businesses is accurate matching under accurate portraits . Precise matching naturally plays a very important role , It puts transaction costs 、 Search costs 、 Matching costs are very low , It's something that the industrial economy can't do . It is not the core of the Internet to replace the commercial blockchain . In precise matching , Internet platform 、 Internet commerce has done very well , It's hard for you to improve your efficiency on this basis 3 times 、5 times 、10 times . Everyone knows one 10 The principle of double efficiency , That is, if a new thing cannot 10 Times better than the original , Then consumers are likely not to accept you , Or users won't accept such a replacement . What is the commercial core of blockchain ？ Because of its trust free 、 No need to trust , Because of its ecological business model , So blockchain is used to solve large-scale collaboration problems . Anything that requires multiple parties , What can be done with large-scale collaboration , Blockchain technology will be used . So business innovation on this basis , With the commercial features of blockchain 、 Technological characteristics to create new business models , In order to have a new trillion market value 、 A new business entity with a market value of several trillion . Like bitcoin , By this week , The overall market value of bitcoin exceeds 4000 Billion dollars . And we know that in the age of the Internet , More than one Internet company's top market value exceeds 1 ten thousand 5 Billions of dollars . I believe in the blockchain world , There will also be a trillion dollar market value , even to the extent that 2 Trillion dollar projects . It doesn't have to be in the form of a company , But there will be a project form , Or in the form of an invisible digital ecosystem , I firmly believe that . If bitcoin is “ Digital gold ”, The current total market value of gold is 8 Trillions of dollars , So why can't bitcoin be 8 Trillion dollar economies ？ Blockchain solves the problem of large-scale cooperation , To create new businesses , Instead of solving the problem of precise matching , The latter has been solved very well by Internet commerce .
（ 6、 ... and ）
Internet ： Native business is based on wan
& Blockchain ： The original business is based on the public chain
The sixth , The original business of Internet is not based on LAN , Therefore, blockchain will not generate new business innovation based on alliance chain . The alliance chain is good , But the alliance chain is just a tool , It's like the Internet is good , But LAN is just a tool . It's going to improve internal efficiency 、 The fall in cost 、 Communication is more convenient . But we haven't found any Internet native business model based on LAN , It's all based on WAN . It's the same on the blockchain , Only based on the public chain will some commercial innovations born on the blockchain come into being , It can't be based on the alliance chain . Alliance chain has tool property , There are improvements in efficiency 、 cost reduction 、 The role of providing a better experience . We start a business , Or invest , We should look at whether a blockchain project is worth investing from such an angle , Or is it the next trillion market value , Blockchain projects that can bring 100 times returns , This is very important .
（ 7、 ... and ）
Internet ： External economic incentive model
& Blockchain ： Built in economic incentive model
And finally , The business of the Internet , Its economic incentive model is external , The business of blockchain , Its economic incentive model is built in , It is brought by itself. . This is also the Internet and blockchain from the business model 、 There's a big difference in business innovation . Let's look at e-commerce , E-commerce is a business activity that needs to be closed-loop , E-commerce alone is not enough , That's why there's payment , Independent payments . And blockchain because of the distributed ledger , This makes blockchain technology and Internet technology very different . When you explained blockchain before , A lot of people say that blockchain is nothing , Blockchain is a distributed database . Blockchain is not P2P Net , It's just a distributed database ？ Yes , Blockchain is a technology based on distributed network and distributed database , Blockchain is also a technology based on distributed computing and distributed storage . however , Blockchain is also a distributed ledger , The Internet is not a distributed ledger . When it's used as a distributed ledger , It gives a whole set of blockchain account system . Based on such an account system , Blockchain naturally has the function of payment and light settlement , It is naturally a light settlement network of payment network and financial exchange . Such a network foundation , Plus the consensus algorithm , Or many of the mathematical rules of game theory , We can build a distributed governance Architecture . In this governance structure , whatever Stakeholder, All the stakeholders are naturally in this system . You've done something for this system , There's a place to keep accounts , You can also get settlement in time in this system , Get bitcoin or ETH, Or any other form of this network Token. This is also a huge difference between the business models of the Internet and blockchain . I think I have grasped the above seven points , So we can make a better distinction between , Internet based innovation and blockchain based business innovation . With the completion of blockchain technology model by the end of this year , In the next five years , From the perspective of blockchain , It's a phase of optimization iteration of Technology . In the iteration phase of technology optimization , It's also a stage of business innovation . Because when the blockchain technology architecture is basically built , Which technologies should be optimized and iterated in the future , It has to be related to the application scenario , Combined with business innovation . No application , There's no business innovation on it , I don't know how to optimize and iterate ： I don't know if the performance is not satisfied , Or something else , Or is the economic model not suitable for your business . therefore , The stage of technology optimization iteration is also the stage of business innovation . We know , Most of the business models of the Internet are based on 2000 Around the year , It's on the Internet TCP/IP The technology model is established 5 Years later, , Most of the business innovations on the Internet have already happened . Next, just spend more 10 year 、20 year , When they grow to the present stage . We can look forward to the future 5 year , Similar to the Internet era from 1995 Year to 2000 It's a stage like this . I believe in this 5 years , All business innovations based on blockchain , The general model and direction will happen . We need to find it , Find business innovations that are based on blockchain technology and have great prospects . This is where my speech is , Thank you. . Recommended reading ： Xiao Feng Web3 The conference speech ： Offline assets and Applications , It's a huge prospect for the blockchain world Xiao Feng ： Speech of the sixth Wanxiang Summit —— The ultimate conjecture of blockchain application mode End
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