Wanda Group joins China Blockchain Technology and Industry Development Forum

On September 8, Wanda Group officially joined the Blockchain Technology and Industry Development Forum initiated by the Ministry of Industry and Information Technology as a vice chairman unit, participating in the compilation of the "China Blockchain Technology and Application White Paper" and research on the development trends of blockchain technology and applications. This indicates that China's largest offline physical commercial enterprise has comprehensively accelerated the layout of its "physical + Internet" business, using blockchain, big data, cloud computing and other technologies to promote industry-level digital transformation and upgrading.

In July 2016, the Information and Software Department of the Ministry of Industry and Information Technology issued the "Letter on Organizing Research on the Development Trend of Blockchain Technology and Applications" (Industry and Information Technology Software Letter [2016] No. 840), entrusting the Electronic Standards Institute of the Ministry of Industry and Information Technology to conduct research on the development trend of blockchain technology and applications in conjunction with key domestic companies such as Ant Financial, Wanxiang Holdings, WeBank and Ping An Insurance.

In order to effectively implement the requirements of the document [2016] No. 840 of the Ministry of Industry and Information Technology, the Electronic Standards Institute of the Ministry of Industry and Information Technology held a preparatory meeting for the blockchain technology and industry development forum and a kick-off meeting for the writing of the white paper in Beijing on August 5. Xie Shaofeng, Director of the Information Technology and Software Service Industry Department of the Ministry of Industry and Information Technology, and the heads of key domestic companies engaged in blockchain technology research and application practice, such as Wanxiang Holdings, Ant Financial, WeBank, Ping An Technology and LeTV Finance, attended the meeting. The meeting was chaired by Lin Ning, Secretary of the Electronic Standards Institute of the Ministry of Industry and Information Technology. The meeting mainly reviewed the plan for the blockchain technology and industry development forum and the plan for writing the "China Blockchain Technology and Application White Paper", and discussed the opportunities and challenges facing my country's blockchain technology and applications.

Xie Shaofeng, Director of the Information Technology and Software Service Industry Department of the Ministry of Industry and Information Technology, pointed out at the meeting that the world is in a critical period of a new round of scientific and technological revolution and industrial transformation. Blockchain is developing rapidly, and its application and popularization are of great significance to promoting economic and social development. At this stage, we must accurately grasp the trend changes and find the direction for my country to promote the development of blockchain technology and applications. At the same time, it is emphasized that blockchain plays an important role in promoting the development of new generation information technology industries such as cloud computing and big data, especially in the development of big data. It will bring revolutionary changes. It is hoped that participating companies will strengthen cooperation and carefully study and put forward targeted suggestions in accordance with the requirements of General Secretary Xi Jinping’s speech on April 19.

With the participation of Wanda Group, the blockchain technology and industry development forum to be established will give full play to the role of the platform, strengthen cross-industry exchanges and cooperation, gather the strength of all parties, systematically sort out and study the current situation and development trends at home and abroad, and put forward feasible suggestions on key technology research, policy standard formulation and implementation, and ecosystem construction, so as to play a leading role in development. The white paper writing team will subsequently, under the guidance of relevant national departments, widely gather high-end wisdom and advantages at home and abroad, fully implement national strategies, promote collaborative innovation, and take improving information governance capabilities, enhancing the people's sense of gain, supporting supply-side structural reforms, and ensuring cyberspace security as the main goals, give play to the "dual-wheel drive" role of technological innovation and institutional mechanism innovation, and make efforts to upgrade the information industry.

Wanda Group has joined the Hyperledger project under the Linux Foundation and is the first core board member from China. In accordance with the spirit of the forum, it will actively carry out international exchanges and cooperation, take the lead in introducing the advanced experience of the Hyperledger project open source technology organization and alliance, increase China's voice in promoting international standardization, and build an international cooperation platform through open source code contributions.

Cai Dong, the leader of big data and blockchain at Wanda Financial Group, said:

As a leader in the physical industry, Wanda Group has a large number of partners and application scenarios. This time, it can represent China's leading technology companies to participate in the industry research of emerging blockchain technologies, and will focus on the development of open source blockchain technology and the application practice of the industrial chain. Wanda Group will rely on Feifan Technology's cloud base and a massive big data platform across physical industries, integrate secure and reliable national encryption algorithm standards, and work with collaborative units to create a core technology self-controllable blockchain open platform for China and the world.