Dr LI Ming, Associate Researcher of the Research Institute for Artificial Intelligence of Things, Chairman of the IEEE Computer Society Blockchain and Distributed Ledger Standards Committee, and Executive Chairman of the Hong Kong Web 3.0 Standardization Association, was recently interviewed by China Times, discussing the current state of blockchain standardisation and the development of blockchain technology in China.
Dr Li stated that in recent years, blockchain technology has undergone rapid development, and when it comes to technological innovation, major mainstream institutions around the world have made breakthroughs in scalability and interoperability. At the same time, the integration of blockchain with artificial intelligence, edge computing and other technologies has accelerated the construction of distributed infrastructure, providing support for broader applications based on blockchain. With the development of blockchain technology, new applications and business models are continuously emerging. Through the application of smart contracts, traditional business processes have been optimised, and data sharing and supply chain management capabilities have been significantly enhanced.
Dr Li believes that the focus of blockchain technology standardisation will shift from promoting industry consensus and summarising best practices, to providing quality assurance. In the early stage of the industry, blockchain technology needs to be understood by more people, and so it is necessary to gather more practitioners to build a consensus on the technology through standardisation, lowering the entry barriers for the industry. During the process of applying innovations, standards can be used to summarise the exemplary practices in applying innovations, reducing the cost of innovation in the industry. As the industry matures, it is necessary to improve the quality of services provided based on blockchain technology through standards, ensuring the standardised development of the industry.
Dr Li further stated that in the face of the rapid development of blockchain development, the biggest challenge today is how to ensure the security and scalability of the technology. To address these challenges, innovating several key areas is needed in the future. For example, in terms of performance optimisation, the consensus mechanism should be improved, and on-chain scaling technologies and layer 2 networks should be developed. In terms of privacy protection, advanced encryption technologies should be applied, privacy protection models should be designed, and a balance between privacy and performance should be achieved. In terms of cross-chain interoperability, cross-chain standards should be established, cross-chain infrastructure should be built, and cross-chain security technologies should be strengthened to promote the development of blockchain technology and to expand its application.
Online coverage:
China Times - https://polyu.me/4fAbO5Z
East Money - https://polyu.me/4iMHO9J
NetEase - https://polyu.me/3PgSWOp
Sina - https://polyu.me/41JiX0v
Sohu - https://polyu.me/3DEinH8
| Research Units | Research Institute for Artificial Intelligence of Things |
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