How does the blockchain application boundless embrace the ubiquitous Internet of Things?

From November 8th to 9th, the 2019 World Blockchain Conference was held in Wuzhen, Zhejiang. The conference gathered experts and scholars from the fields of blockchain, digital assets, AI, 5G and other fields around the world, with the theme of “Unbounded Application”, and conducted in-depth discussions on hot issues such as blockchain application and industry trends, empowering blockchain Ecological innovation and evolution.

On October 24, Xi Jinping, General Secretary of the Central Committee of the Communist Party of China, stressed that the integrated application of blockchain technology plays an important role in new technological innovation and industrial transformation when presiding over the 18th collective study of the Political Bureau of the Central Committee of the Communist Party of China. It is necessary to take the blockchain as an important breakthrough for independent innovation of core technologies, clarify the main direction of attack, increase investment, focus on conquering a number of key core technologies, and accelerate the development of blockchain technology and industrial innovation.

The 2019 World Blockchain Conference held in Wuzhen, Zhejiang Province from November 8th to 9th echoed the voices of high-level leaders, demonstrated the achievements of blockchain technology, and the participants boldly imagined the future of blockchain. State Grid Co., Ltd. follows the wave of blockchain development, continues to innovate and explore, and promotes the deep integration of blockchain technology with smart grid and ubiquitous power Internet of Things construction.

It is time for independent innovation of blockchain

Blockchain is a new application model that integrates distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies. It is essentially a decentralized database, which is a series of data blocks associated with cryptographic methods. Each data block contains a batch of network transaction information to verify the validity of its information.

At this blockchain conference, Ma Qianli, vice president of Babbitt, said in his keynote speech that the product idea of ​​industrial blockchain is, in short, how to cooperate with traditional enterprises or governments to do blockchain projects. When practicing blockchain product ideas, it is necessary to explain the blockchain in a way that the industrial blockchain can understand. In other words, the blockchain is actually a governance model. By analogy to the industry, companies use the governance model to schedule workers and machines to produce goods, and the government uses the governance model to schedule people to achieve production, life and livelihood.

Chen Chun, a professor at Zhejiang University and an academician of the Chinese Academy of Engineering, said in an interview with reporters recently that blockchain technology has passed the hype period of the concept and has become a recognized future innovation technology at home and abroad. Gartner, an authoritative Internet technology research and consulting company, predicts that blockchain will become the development trend in the next ten years. China has a good scientific research and innovation environment and technical foundation, and it has become a It is an important step to improve China’s international competitiveness and influence. Chen Chun said that from a technical point of view, the core technologies of blockchain include cryptography, consensus mechanisms, etc., and there is currently no unified international standard in these fields. Cryptography is an important strategic resource of the country. my country has just promulgated the cryptography law and formulated a cryptographic standard system, so it has the technology and ability to participate in the formulation of international blockchain standards. From the perspective of application, there are actual needs from centralization to multi-centralization in the fields of people’s livelihood services such as food safety and targeted poverty alleviation, and industrial services such as the industrial Internet. Combining blockchain technology with the above fields, there are Larger innovation space and application prospects.

At this blockchain conference, the participating experts also focused on the future trend and development of the blockchain and computing power industry.

Cai Yige, general manager of Tencent’s blockchain business, believes that gateways and auxiliary technologies from off-chain to on-chain have become the key to the implementation of blockchain. He said that blockchain digital asset transactions have attracted much attention. The new digital bank in the future blockchain era will be the integration of decentralized finance (Defi) and traditional centralized exchanges (Cefi).

Experts also mentioned the connection between 5G and blockchain. Experts believe that the 5G and 6G eras are mirror worlds, where everyone is AI, and everything in the future will be digitalized. The future vision of the chain network is that based on community awareness, user participation, co-construction and sharing, it can finally form a network without network presence, through a new point-to-point physical layer communication network, distributed encrypted storage, distributed computing, etc. Owned, never-ending “world brain”.

How does the blockchain spark with the ubiquitous Internet of Things?

What kind of sparks can the energy and power industry, which is the backbone of national economic development, collide with blockchain technology? How will blockchain technology be applied?

At the beginning of this year, State Grid Corporation of China put forward the strategic goal of “three types and two networks, world-class”, and vigorously promoted the construction of the ubiquitous power Internet of things. Yan Yong, chief blockchain scientist of Zhejiang Electric Power Research Institute, introduced that the current blockchain and ubiquitous power Internet of Things construction have one-to-one correspondence. “Blockchain’s features such as smart contracts, group collaboration, peer-to-peer communication, decentralization, underlying platform, openness and transparency are exactly the same as the energy Internet’s equipment intelligence, multi-functional coordination, information symmetry, decentralized supply and demand, flat system, and open transactions. wait for it,” he said.

Since the beginning of the construction of the ubiquitous power Internet of Things, the State Grid Corporation of China has attached great importance to the innovation and application of blockchain technology. State Grid E-commerce Company (State Grid Financial Technology Group) focuses on blockchain technology research, product development, construction and operation of public service platforms, etc., to create public technical means for ubiquitous power Internet of Things construction, and actively consolidate the foundation for blockchain development. Standardized the application of blockchain technology and made a series of important progress.

On March 28, the Electric Power Application Experimental Base of the Key Laboratory of Blockchain of the Ministry of Industry and Information Technology was listed in the State Grid E-commerce Company; On August 22, State Grid Blockchain Technology (Beijing) Co., Ltd., the first professional blockchain company of a central enterprise, was established; “The project has been appraised by the Chinese Society of Electrical Engineering and has reached the international advanced and domestic leading level; on October 18, the State Grid E-commerce Company registered through the State Network Information Office’s blockchain information service…


A schematic diagram of a power outage insurance project based on blockchain technology.Photo courtesy of Ningbo Power Supply Company

In addition to top-level technological innovation and platform building, at present, the combination of blockchain and power system has also achieved many achievements at the grassroots level. Taking Zhejiang as an example, practices such as blockchain-based demand-side response and power outage insurance have been successfully implemented.

Demand-side response is to use economic incentives to allow users to use less or more electricity during the peak or trough period of electricity consumption to achieve the balance of power generation and consumption in the power grid. At present, the main economic incentive is to determine the subsidy amount by referring to the load data of demand response through subsidies. Using blockchain technology, real-time load data is uploaded to the chain and provided to relevant stakeholders such as power grid companies, energy bureaus, users, etc., which can ensure the data consistency of different subjects. Data is checked.

The use of blockchain technology can eliminate users’ doubts about response data, grid companies can “self-certify their innocence”, and the Energy Bureau has a better supervision method, which can reduce supervision costs and improve supervision efficiency.

On October 30, Ningbo Power Supply Company, with the technical support of Zhejiang Electric Power Research Institute, built a power outage insurance product based on a blockchain underlying platform with independent intellectual property rights, and conducted functional tests. The “Chain Worry-free – Power Outage Insurance Based on Blockchain Technology” project puts data such as power grid outages into the blockchain by utilizing the characteristics of distributed storage and non-tampering of the blockchain. In the event of a power outage for an insured user, the insurance company can automatically settle claims in real time according to the duration of the outage based on on-chain data without the need for manual on-site damage verification.

As a brand-new power financial product integrating industry and finance, power outage insurance based on blockchain technology is oriented to all power customers and supports automatic and quick claims for power failures of insured power customers, effectively solving platform trust issues, data security issues and inefficient claims settlement. This has created a win-win business model for insurance companies to expand new businesses, upgrade services for power supply companies, and reduce customer losses.

This year, State Grid Zhejiang Electric Power has carried out research on the security issues of massive heterogeneous IoT terminals. Through the combination of production, education and research, the security access platform for IoT devices is carried out from three aspects: terminal device security access, security authentication management and blockchain gateway. Research, overcoming many problems such as IoT terminal identity authentication, authorization management and data privacy protection, and developed a set of blockchain gateway and its security authentication management prototype system, which has high concurrent, stable and reliable access to multi-source heterogeneous terminal equipment, Innovative features such as lightweight blockchain security gateway and controllable management and data security and trusted services that support identification passwords.

Promote the comprehensive application of blockchain in smart cities, power finance and other fields

“In the future, the integration of artificial intelligence, 5G, big data, cloud computing, and autonomous driving with blockchain technology will promote urban intelligence into a new stage.” It was said at the blockchain conference that in the flow of trusted data, the blockchain can realize reliable data collection, reliable data storage, reliable data transmission, and reliable data processing. Smart city construction.

In the field of energy, promoting the integration and application of blockchain technology and energy business is an important focus of State Grid Corporation in the future. A few days ago, the company released the “Ubiquitous Power Internet of Things White Paper 2019”. The research on new energy business models based on blockchain is one of the 57 ubiquitous power Internet of Things construction tasks.

State Grid E-commerce Company will comprehensively upgrade the blockchain strategy to realize the comprehensive application of blockchain in business fields such as high-quality services, safe production, smart cities, power finance, smart supply chains, and digital asset transactions.

“We will actively cooperate with the company’s ‘one main and two sides’ blockchain public service pilot construction work, and carry out the construction of data side chain provincial nodes.” Yan Yong introduced. State Grid Zhejiang Electric Power Research Institute will also accelerate the pilot application of blockchain in photovoltaic subsidies, demand-side response, power outage insurance, etc., integrate new technologies such as the Internet of Things and trusted computing, and give full play to the role of blockchain in promoting data sharing, The role of optimizing business processes, reducing operating costs, improving collaboration efficiency, and building a credible system.

In terms of blockchain scientific research and industrial chain development, the company is also making efforts. State Grid Zhejiang Electric Power plans to establish an energy blockchain technology laboratory, establish a joint innovation center with external well-known enterprises, universities and scientific research institutions, and establish an energy blockchain talent training base. State Grid e-commerce company will continue to strengthen innovation, carry out research on key core technologies such as blockchain security certification and cross-chain mutual trust, continuously optimize the layout of intellectual property rights, and accelerate the cultivation of new achievements; actively consolidate the development foundation and build a national-level Blockchain experimental base, build industry-level energy blockchain application demonstration projects, and explore the construction of a blockchain application ecosystem of the entire industry chain.

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