Chongqing- The 2021 Special Forum on Innovative Application of Blockchain and Supply Chain Integration (referred to as dual chains) was held in Chongqing recently, aiming to implement the strategic deployment of blockchain and supply chain, as well as promote the high-quality development of dual chains.

Empowering industrial development 

Deng Guanghuai, vice governor of Chongqing Yuzhong District People’s Government, emphasized the great significance of the forum to digital economy development of Yuzhong District, even the whole of Chongqing, especially through the exchange of typical cases of innovative applications of dual chains and the exploration of innovative development paths.

Next, Yuzhong district will focus on the goal of creating a national demonstration zone for blockchain development, concentrating on strong policies, grasping recruitment and education, and pushing applications to build an ecosystem for blockchain applications so that blockchain can better empower high-quality industrial development.

Saving the platform economy

At the forum, Pan Haihong, executive secretary-general of the blockchain application branch of the China Federation of Logistics and Purchasing (CFLP), said that the integration of dual chains can well-solve the core pain point of the supply chain and traditional Internet platforms-lack of trust.

In his opinion, blockchain will be the key to save the platform economy. In a blockchain platform, depending upon a polycentric way, and multi-party witnessing and verification, all branches participate together in a federation that can truly build a trust relationship.

Meanwhile, under the theme of "supply chain + blockchain" model innovation from the perspective of finance, Gu Qingshan, general manager assistant of OneConnect also the Chief Technology Officer of Gama and Insurance, believed that the combination of blockchain and supply chain finance can have a better impact on different areas.

In particular, this involves the formation of the mutual trust system for multiple parties in the transaction, the process of industry digitization, the solutions for financing problems of small and medium-sized enterprises, as well as the efficiency of the industry chain.

Deeping scenario-based blockchain technology

Focusing on the application of trust technology in the new era of the industrial supply chain, Hu Hongyuan, business director of strategic customer department of intelligent technology business group of Ant Group, said that blockchain technology must be deeply scenario-based if it is to be applied well.

Hu said that blockchain technology must be a comprehensive application of information technology and digital technology, in order to practically uncover industrial demand, discover industrial pain points and solve industrial problems.

"Especially in traditional and complex industries," said Hu. "We need to continue to solve problems regarding the productivity, through information technology construction, and subsequently unblock production relationships using blockchain technology."

Tang Yong, director of the Food Industry Integration Innovation Center of Xihua University, concentrated on the digital transformation of traceability from farm to table and the exploration of blockchain technology applications.

He thinks that digital transformation of food traceability system should follow internal traceability professional personalization, external traceability sharing interconnection and whole chain traceability integrating the blockchain technology.

(Du Min, as an intern, also contributed to this report.)