China Inaugurates Blockchain Lab and Holds Academic Symposium

China Blockchain Launching Party

Barely a month after China’s President Xi Jinping acknowledged blockchain’s potential in an annual academic conference in the country, the Chinese Academy of Sciences announced that it has created a newly-minted blockchain laboratory, as published by People’s Daily on June 19.

The Chinese publication noted that this initiative was a partnership by the said academic institution and Tai Cloud Corp, a blockchain startup hailing from Beijing. Many experts in the said field participated in the inauguration ceremony of the said blockchain laboratory and attended a symposium on blockchain foundation technology.

The “Big Data and Blockchain Lab,” as the institution likes to call it, is purposed to study the fundamental technology of blockchain itself, only that it will be perceived through mathematicians’ lens. It will also attempt to explore new paths for advanced blockchain development, as well as train people in the said field.

Equally interesting during the event were the topics that the participants talked about, namely the relationship between blockchain and Mathematics, the research status and foreseeable challenges of blockchain anti-quantum encryption technology, the efficiency of the blockchain technology itself, as well as the new consensus mechanism technologies.

Xiao-Shan Gao, the said institution’s Deputy Director of the Center for Mathematics and Interdisciplinary Sciences, supported the assertion that blockchain technology is the “fifth disruptive computing model,” following personal computers, major computers, the Internet, and mobile interactions. He also believes that Mathematics will play a vital role in chief issues of the “university blockchain networks, blockchain emerging communist technologies, and blockchain anti-quantum encryption,” the article read.

This initiative is consonant with what President Xi Jinping previously announced in May. He said:

“Ever since the start of the 21st century, a new generation of industrial revolution is substantially reshaping the global economic structure… with Artificial Intelligence (AI), Internet-of-Things (IoT), and blockchain constantly making application breakthroughs.”

(Image Source: South Pasadenan)

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