Hainan links the world by blockchain technology
News source:Hainan Daily / By Wang Peilin, Chenjinmei, Wu Yueming, Liangjianmei and Ding Xin / 12 05,2019 16:33:14 / others

On December 4th, the launch event of the Digital Civilization Conference hosted by the Hainan Free Trade Zone (Port) Blockchain Pilot Site was held in Hainan Ecological Software Park. Photo by Hainan Daily reporter Li Tianping

At the launch event of the Digital Civilization Conference held in Hainan Ecological Software Park, the founder and CEO of Dubai Blockchain Center Marwan Alzarouni appeared on the stage as scheduled to participate in the signing of the strategic cooperation agreement between Hainan Free Trade Zone (Port) Blockchain Pilot Site and the Dubai Blockchain Center at 4 pm on December 4th.

It is reported that since August this year, both sides have maintained a weekly conference call frequency. And they finally finalized this strategic cooperation. The signing of this agreement is the milestone in the cooperation between Hainan and Dubai on the blockchain cooperation. Cooperation with Dubai is the first practice of the development of Hainan blockchain to the world.

Sharing blockchain development experience

Every year, Hainan Daily reporters learned from the meeting that if the UAE government adopt the blockchain technology, 11 billion dirhams (approximately 21.1 billion yuan) in government affairs will be saved. And 398 million paper documents will be less used, and 77 million working hours will be saved. Utilizing blockchain technology, by 2020, 50% of the UAE government will be used blockchain technology.

At present, the UAE's blockchain strategy has put forward a beautiful vision: by 2020, Dubai will become the first city in the country to be fully powered by blockchain. The strategy will consist of three strategic pillars: "government efficiency, industrial innovation, and international leadership".

On December 4th, the strategic cooperation agreement signed at the event site will better promote the cooperation between the two parties in the application of blockchain and jointly explore more solutions for the application of blockchain worldwide. After signing the agreement, the "Chaining Hainan" will provide solutions for Dubai blockchain applications, enabling some of the goals in the Dubai blockchain strategy to be achieved. Dubai, as a free trade port for the advanced development of blockchain applications, has accumulated practical experiences. These experiences can also be used as a reference for Hainan.

It is reported that in March and April 2020, some staff of the Hainan Free Trade Zone (Port) Blockchain Pilot Site will also travel to Dubai to provide technical support for the application of "Chaining Hainan" in Dubai.

Smart Hainan links the world

"The first Digital Civilization Conference will be held in Hainan in 2020," the relevant representatives of the Organizing Committee of the Digital Civilization Conference stated at the press conference that the rapid development of digital technology, along with new opportunities, has also brought new challenges to the world.

The relevant representatives of the Organizing Committee of the Digital Civilization Conference stated that Digital Civilization advocates the use of blockchain technology to build a new transparent supervision service, and integrates cutting-edge technologies such as information security, artificial intelligence, big data, and the Internet of Things to achieve a new "Service-based supervision" governance model. It will support the establishment of a new enterprise organization model, new incentive mechanism and new digital financial model based on the blockchain without borders. It will support the realization of global data circulation and data under the conditions of ensuring legal trading. It will support the seamless connection between the physical world and the digital world.

"There are some untrustworthy obstacles and gaps between countries, and blockchain technology emphasizes transparency, which will greatly reduce the mutual trust costs. In the future, international cooperation and data-based international trade will become more and more popular. It is necessary to build an international platform, "said Chen Bangdao, executive director of the Oxford (Hainan) Blockchain Research Institute. 

Jim Davis is the head of the Health and Medical Big Data Center of the Oxford (Hainan) Blockchain Research Institute. He often travels between the United States and Hainan. He said that the core of the blockchain is to build a transparent and trusting environment. China is now vigorously promoting blockchain technology, and Hainan is already at the forefront. With such an international platform, Hainan can set an example for the world in building a transparent and credible environment.

It is understood that in addition to Dubai, the Hainan Free Trade Zone (Port) Blockchain Pilot Site is also discussing strategic cooperation with South Korea, Thailand, Malaysia, Argentina, Turkey and other countries.

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