"Standing on the initial heart, avoiding quick success and instant benefit" Zhao Yahui, general manager of People's Venture Capital, said that the blockchain industry

Zhao Yahui, the general manager of People's Venture Capital, put forward four targeted suggestions on the “Chain·Future, 2018 Spring Blockchain Technology Forum” sponsored by People's Venture Capital: Entrepreneurs should keep their minds and avoid quick success while at the same time being dare to be the best in the world. Investment institutions and investors should adhere to the concept of value investment; industry organizations must maintain the basic order of the industry; industry media must adhere to the correct direction of public opinion.

The full text of Zhao Yahui’s speech is as follows :

Dear guests, friends, good morning everyone! First of all, on behalf of the People's Venture Capital, I would like to warmly welcome all of you. I hope that all of you will be able to gather a hundred wisdoms in this forum, promote consensus among all parties, and provide more insights for people from all walks of life who care about the development of blockchain.

If you have published a paper from Zhong Bong in 2008, blockchain technology has been going through a full 10 years. The novel technical architecture of the blockchain has attracted more and more attention in the past 10 years. Its unique operating mechanism not only expands people's thinking, but also provides a new perspective for the whole society to re-examine, evaluate and reform the current Internet environment. With regard to the application and exploration of blockchain technology, some innovative applications have begun to fall in the financial, logistics, copyright, public welfare and other industries, and the social value and commercial value of blockchain technology have gradually turned from ideas to reality. With the increasing number of blockchain landing scenarios, while solving the needs of the industry, there may be certain conflicts with existing laws and regulations. The application of technology can be said to require regulatory standards.

The state is generally encouraged to adopt new applications that may have a positive effect on social development, including blockchain. The report of the 19th National Congress emphasized that “key common technologies, cutting-edge technologies, modern engineering technologies, and disruptive technological innovations” play an important role in accelerating the construction of an innovative country; the “13th Five-Year National Informationization Regulations” issued by the State Council The blockchain technology is listed as a strategic technology. In particular, it is proposed to strengthen the basic R&D and frontier layout, build a new starting point for the new field, and encourage enterprises to carry out basic innovative research. In 2016, the Ministry of Industry and Information Technology released the White Paper on China's Blockchain Technology Application Development. Not long ago, it said that it will establish a national blockchain and distributed accounting technology standardization technical committee. The People's Bank of China established the Digital Money Institute in 2017. It is understood that other relevant ministries and commissions are also actively conducting in-depth research around blockchain technology.

The country is actively creating good conditions for the healthy development of the blockchain industry and creating a good environment. What we have to think about is how to apply good environment, good policies and good mechanisms to the research and development and promotion of good technology and good products. Blockchain development produces good results in the right direction. From a technical point of view, the blockchain is still in a relatively early stage. Although the teenager is promising, it will inevitably encounter many growing troubles during adolescence. How to solve problems and how to make them grow up healthily, this teenager needs to face the test. Not only IQ but also emotional intelligence.

First , for entrepreneurs, we should first pay tribute to them for their entrepreneurial spirit. At the same time, we hope that they can stick to their original intentions, avoid quick success, and use their craftsmanship to polish their own technology and products. Look, the pursuit of making quick money is not a practical business. Similarly, some industries that have been labeled as "windows" and can make quick money are mostly unable to escape the cyclical pattern of "there is a burgeoning burgeoning, and its death is also ignoring."

Second , for investors, we must adhere to the concept of value investment, select and cultivate blockchain innovation projects with application value. A small number of investment institutions and investors for reasons of interest, sometimes said that the violation of the words did something wrong, and even slammed the illegal and illegal projects, they tried to make people understand the blockchain business path. Drowning fish, through the high speculation of public opinion, find the successor to make a profit. To a certain extent, the blockchain industry has been led astray.

Third , for the organization of the industry, it needs to be more "competent" than the entrepreneurs. With the rapid development of the blockchain industry, various industry organizations related to the blockchain, especially the voluntary organizations, have been established. It is of positive significance for integrating industry resources, promoting information exchange and promoting industry development. In addition to the integration of resources, the role of industry organizations must also regulate self-discipline and maintain the basic order of the industry. Both are indispensable. Only in this way can the long-term healthy development of the industry be promoted.

Fourth , for the industry media, including ourselves, we must adhere to the correct direction of public opinion and strictly abide by the authenticity. Including the blockchain industry, it can be said that the development of any industry requires the news media to play an active role in disseminating valuable content and promoting the exchange of information. Popularize and promote industry knowledge and products to the public. In this process, we must report the information objectively and fairly based on the long-term development of the industry and the overall interests of the society. Those who illegally disseminate false information and mislead the public will also be punished.

For People's Venture Capital, we are a two-wing layout, launching the People's Network Cultural Industry Series Fund, and also launching a media platform for the venture capital industry, the People's Network Venture Capital Channel.

As an investment institution, the People's Network Cultural Industry Series Fund has always maintained close attention to the development and application of new technologies. The fund's key investment areas include TMT, media, culture, health and other fields. In these areas, blockchain technology should also have a broad application direction. In the future, we hope to cooperate fully with industry colleagues to discover and cultivate quality projects in the technology and application of blockchain.

At the same time, as a news media, People's Network Venture Capital Channel will always be committed to producing high-quality content for entrepreneurs and investment industries, providing valuable news information and building a multi-party communication platform. We have a professional editing team, we are committed to the real record of the industry development, and strive to promote the industry. In the rapid development of the blockchain technology industry, we will not be absent, give full play to the value of the People's Network, and fully empower the blockchain industry. In addition to content production, the blockchain think tank and blockchain expert committee will be established in the near future, and a series of high-end interviews will be launched. In addition, regular closed-door seminars will be planned. Today is also a good attempt and start. We are striving to build a platform for government agencies and industry exchanges, and we hope to continue to receive enthusiastic support and active cooperation.

2018 is the year of full implementation of the party's 19th National Congress. It is also China's implementation of reform and opening up for more than 40 years. History has given us the opportunity to witness a global technological innovation and have the opportunity to jointly create a promising new industry. Under the concerted efforts of all practitioners, we hope that we can not only achieve good results in the development and application of blockchain, but also hope to contribute Chinese wisdom and China programs to the world in the research and practice of cutting-edge technologies.