On August 25th, a symposium and report release on “10th Anniversary of the blockchain: Research on Development Status, Trends and Regulatory Policies” was held at Chongyang Institute for Financial Studies of Renmin University of China (RDCY), inviting senior experts to have a heated discussion on the integration of blockchain and industry. The symposium was presided over by Jia Jinjing, the director of Macro Research Department of RDCY.

Wang Wen, executive dean of RDCY, said in his introductory speech that in the face of a new wave of technology, think tanks need to have more calm and objective thinking. During the current scientific and technological revolution and the major changes, we hope that more and more extensive attention to the scientific and technological revolution and the future development of China should be paid.

Liu Yushu, a research fellow at the RDCY, elaborated on the report, and mentioned that most of the blockchain companies are in their infancy and the competition will become increasingly fierce.

The report reviewed the development progress of blockchain, analyzed the academic research for the latest three years and the relationship between blockchain and computing power and the problems that blockchain development could face. Furthermore, the report found the "ternary paradox" of the blockchain decentralization and made policy recommendations for regulation on blockchain development.

In the discussion, Wang Yongli, former deputy president of the Bank of China and senior fellow of RDCY, said that in order to make the blockchain-based project put into operation, we must carefully evaluate its specific and strict realistic qualifications.

Wu Zhifeng, director of the China Development Bank Research Institute, pointed out in his speech that the blockchain achieves peer-to-peer transfer of value, in the same way as information. In the real world, the important issues are how to solve the related problems such as efficiency, security and decentralization.

Fu Ming, executive secretary of Blockchain Technology and Application Committee at the China Association for Promoting International Economic & Technical Cooperation, proposed to build a  blockchain development ecosystem that integrates government departments, industries and people to realize the mission of blockchain technology.

Bian Yongzu, deputy director of the Industrial Research Department of RDCY, believes that the combination of blockchain and traditional industries should pay attention to market demand orientation and the relationship between demand and technology.