Understanding Blockchain from Its Core: First Blockchain University Conference-USC

    2018/04/02 16:18 Angel lv Created with Sketch.
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Cointime (April 2) — As blockchain becomes more relevant in society, it is more important for the younger generation to be educated and familiar with this innovation.

Thus, on March 31st, the Chinese Graduate Association at USC partnered with GoodChain and invited blockchain experts to speak with students and audience at the oldest private research university in California.

The speakers included Liu Song (AAACHAIN Founder and CEO), Henry Shi (AI List Capital Managing Partner), Zhao Jianwen (VOICECOIN founder), David Zhang (RealChain Chairman of the Foundation), and Chen Zhao (ICONIZE Managing Partner & CEO).

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“Nothing helps understand blockchains better than building one yourself,” suggested David Zhang.

However, the beginner explanation for blockchain could be a network of computers that could record data and be viewed by different users.

Or as Zhao Jianwen put it,

“Blockchain, created by Satoshi, is basically a form of social media. It brings people together.”

Zhao further explained, one aspect that makes it different from platforms like Facebook or Alibaba is the way data is stored. Blockchain is decentralized while social media are centralized and controlled by a specific company.

Liu continued and pointed out the current system’s flaw,

“What we are seeing now is that Facebook got its own data, Instagram got its own data, Twitter got its own data, Alibaba got its own data, and so on. But all the data belong to them and the data will not be available to other sources.”

Liu believed users themselves should have control over their data. Afterall, the data are created by both the platforms and users.

If all the data could be stored in a decentralized system, users could share the data and allow others to see their data. This could speed up innovation development. A company will no longer own the specific knowledge or data because it will be transparent and available to many

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Blockchain had already entered medical, entertainment, logistic, and security industry.

To invest in projects with potential, Henry Shi suggested looking at the business’s possible future.

“You need to see what a project could be like in 5 or 10 years. Technical and scientific projects like these take time to develop.”

Blockchain is still taking shapes and finding its role in different industries. David Zhang, is developing blockchain in food safety industry.

David Zhang and other experts all agreed, for industries that are embracing blockchain technology such as historical artifacts and food safety, the priority should be discovering the best way to label, categorize, and identify the objects. Once they could upload the complete information on-chain, blockchain could become the solution for the industry.  

The event concluded with a round of Q&A, where the reward of asking questions was token provided by AAAChain’s Liu Song.

One of the questions that many of the audience wanted to know if 2018 is the year to invest.

Chen Zhao responded,

“It takes time for blockchain projects to launch and mature. It is more important to focus on projects’ potential. Meaning, you want to invest in blockchain projects for long-term.”

In addition, he believed cryptocurrencies have a bright future. Investors might still profit from cryptocurrency investment.

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    Adapted from: CoinTime Executive editor: Angel
Declaration:In this article, the original copy of COINTIME, which is copyrighted by COINTIME, shall not be reproduced without authorization, and the authorized media shall specify "News from COINTIME" when quote the article, and the offender will be held accountable according to law.
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