VeChain Attended the China International Big Data Industry Expo 2019

VeChain Foundation
May 28 · 4 min read

“The booming of next-generation information technologies, such as big data and artificial intelligence, will cast a profound and far-reaching influence on the economic development, social progress and people’s lives of all countries. China attaches great importance to the development of big data industry and is willing to share the opportunities of digital economic development with other countries, and build up new growth momentum and development paths by exploring new technologies, new formats, and new models.”

— — President Xi Jinping In The Congratulatory Letter To The Big Data Expo

On May 26, the China International Big Data Industry Expo 2019 kicked off in Guiyang, capital of Guizhou Province. The opening remarks were delivered by Wang Chen, Vice Chairman of the National People’s Congress of China. In recent years, Guizhou has regarded the development of the Big Data industry as its priority. The expo, which is co-hosted by the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Cyberspace Administration of China and Guizhou Provincial People’s Government, is a national level event focusing on exploring industry frontiers, building win-win cooperation, and providing an international platform of interaction, presentation, and promotion.

On May 27, Mike Zhuang, Chief Strategic Officer of VeChain, attended the Big Data Expos International Green Finance and Technology Innovation Forum with Luca Crisciotti, CEO of DNV GL Business Assurance, and George Kang, CEO of DNV GL Business Assurance Greater China, and had an in-depth discussion with Dr. Wang Ning, Senior Researcher of Oxford University, Mr. Alastair Marke, Director-General of the Blockchain & Climate Institute, and others on how fin-tech can be leveraged to empower Green Finance.

As UN Secretary-General Guterres put in his congratulatory letter to this conference, “Big Data has great potential to accelerate the achievement of Sustainable Development Goals”, however, there is a long way to go before potential can be turned into reality, and it takes various technologies, including blockchain, to achieve the goal. To facilitate the process, VeChain joined hands with DNV GL in developing the blockchain-based Digital Carbon Ecosystem.

“Digital Carbon Ecosystem is the first project that introduced blockchain-based economic incentive, or carbon credits, to encourage carbon reduction. Building a Digital Carbon Ecosystem is a challenging task for all participants, and it takes the joint effort of us all to achieve SDGs.”

— — Luca Crisciotti, CEO of DNV GL Business Assurance

As a panelist, Mike attended the 2019 Global Blockchain Technology Development Forum of the Expo on May 28, and exchanged thoughts with his peers from major actors in the industry, such as Huawei, Alibaba, and Huobi, on the relationship between Blockchain and Digital Economy. Mr. Zhuang said, blockchain provides a new impetus to the development of the digital economy, however, exploring more application scenarios remains the key to the success of blockchain development, and VeChain will carry on its unremitting efforts for the mass adoption of the technology.

“For the time being, Blockchain is still at its infant stage, be it technology wise or application, it’s too early to talk about killer apps. We shall get down to earth and lay a solid foundation for future development. From my perspective, many startups in the industry are going in the wrong direction and dedicated too much to technology and TPS, however, without sufficient application scenarios, high TPS means nothing.”

— — Mike Zhuang, Chief Strategy Officer of VeChain

In an era when the whole world is attaching greater importance to innovation and the application of state-of-the-art technology, a boom of new technologies, including blockchain, is within expectation. VeChain will work closely with our partners, such as DNV GL, to accelerate the process and thereby bolstering digital transformation and empowering the real economy through blockchain technology.

About Big Data Expo

Launched in 2015, the Big Data Expo has seen four successful runs. Specialized and market-oriented, the world’s first big data-themed expo has become a trendsetter of global big data industries and the most authoritative and “international” industry sharing platform. In 2018, the Expo received over 120,000 visitors; its 60,000m² Exhibition featured 388 domestic and foreign entities. The expo has also been given equal attention by the social sectors, as the world’s most influential entrepreneurs, experts, scholars, statesmen, delegates of international organizations and research institutes, and media professionals have gathered together to share the new opportunities of the big data era.

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