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Chinese Media On Blockchain: ‘Second Phase Of The Internet’ Will Be ‘10X More Valuable’




An international panel of experts recently addressed audiences of China Central Television in an educational segment aimed at explaining the benefits and drawbacks of blockchain technology.

The business and finance channel of China Central Television (CCTV-2) aired a program Sunday night featuring a moderated panel of experts explaining blockchain technology to CCTV-2 viewers as well as a live studio audience.

The informational segment, called "Dialogue," featured a panel of six blockchain technology experts. Notables included Don Tapscott, author of "Blockchain Revolution," and Stanford physics professor Zhang Shoucheng, whose VC firm Danhua Capital invests in blockchain startups.

Alluding to China's pro-blockchain stance, CCTV host Chen Weihong called blockchain technology the "second phase" of the internet and claimed that blockchain technology will be "10 times" more valuable to the future than the invention of the internet was.

Tapscott weighed in:

"We're moving from an internet of information to an internet of value. If I send you some information – a PDF, a powerpoint – I keep the original. That's fine for information, but it doesn't work for assets, things of value like money and stocks and intellectual property and our identities and music, and art. Copying those is a bad idea. And cryptographers have been unable to solve it until the creation of blockchain. Now, for the first time ever, people and organizations can do transactions peer to peer."

CCTV-2 falls under the supervision of the State Administration of Radio and Television, which in turn is a subordinate of the State Council of the People's Republic of China.

Although television is an obvious medium for conducting outreach to its citizenry, the President Xi Jinping has also recently announced nationwide tours designed to teach young people about blockchain technology and how their responsibilities are changing alongside the shifting digital landscape.

As China doubles down on its blockchain investments by, for example, allocating resources for the Zhejiang Xiongan Blockchain Strategic Development Research Institute and the Hangzhou Blockchain Industrial Park, it seems the economic powerhouse is educating its population about how the future is taking shape. 

Jordan Daniell

Jordan Daniell has a passion for techno-social developments and cultural evolution. In his spare time, he enjoys astronomy, playing the bagpipes, and exploring southern California on foot. Jordan holds value in Ether.

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