The blockchain revolution is no longer a speculative idea—it's unfolding in real time. On March 28, 2018, 36kr hosted a landmark event in Shenzhen titled “‘区’动 Future, Act Now”, bringing together pioneers, investors, legal experts, and technologists to dissect the evolving landscape of blockchain technology. While the summit took place years ago, its insights remain highly relevant in shaping today’s understanding of decentralized innovation.
This gathering wasn’t just about hype; it was a grounded exploration of how blockchain can transform industries, empower individuals, and redefine trust in the digital age.
The Value of Blockchain: Beyond the Hype
At the core of the discussion was a shared belief: blockchain technology holds transformative potential for society. Experts emphasized that blockchain isn't merely a tool for creating digital currencies—it's a foundational shift in how we manage data, verify transactions, and distribute power.
👉 Discover how decentralized systems are reshaping trust in finance and beyond.
Trust Through Code, Not Contracts
Li Ming, Director of the Blockchain Research Lab at the Ministry of Industry and Information Technology’s Electronic Standardization Institute, highlighted one of blockchain’s most powerful features: immutability. He explained that traditional business ecosystems rely on contracts and third-party validation to establish trust—processes that are costly and slow. In contrast, blockchain uses algorithms to enforce agreements, drastically reducing both operational and communication overhead.
“This shift from legal backing to algorithmic trust is revolutionary,” Li said. “It enables faster, more transparent collaboration across supply chains and digital ecosystems.”
However, he also pointed out a major challenge: the migration from physical to digital realities. Bridging real-world assets with on-chain representations remains a complex hurdle—one that requires standardization, interoperability, and widespread adoption.
Unlocking Data Ownership
Deng Di, Chairman of Taiyi Cloud and head of the China Blockchain Delegation at Davos, took the conversation further by framing blockchain as a vehicle for individual data sovereignty. For the first time, he argued, people can truly control their personal information, digital assets, and online identities.
“The decentralized key model puts ownership back into the hands of individuals and small businesses,” Deng explained. “This isn’t just technological progress—it’s a redistribution of economic power.”
He went on to suggest that blockchain could be a cornerstone of the Fourth Industrial Revolution, where decentralized networks enable new forms of value creation, automation, and peer-to-peer exchange.
Entrepreneurs Embrace Regulation
A recurring theme among founders was the importance of working within regulatory frameworks, rather than trying to bypass them.
Da Hongfei, founder of NEO, envisioned a future where economies become smarter through digitization. He predicted that centralized exchanges would eventually give way to decentralized alternatives, shifting custody—and responsibility—directly to users.
Meanwhile, Zhu Shaokang, CEO of Qikun Technology, stressed that regulatory compliance is essential for long-term success, especially in financial applications. “We must embrace regulation,” he said. “It’s not an obstacle—it’s a roadmap for sustainable innovation.”
Dishi Di from Alshan Fintech added a comparative perspective: while Western regulators focus on classification, taxation, and compliance, Chinese authorities are primarily concerned with preventing fraud and illegal fundraising. This divergence underscores the need for global coordination—and local adaptability.
Investors Look Beyond Speculation
For institutional players, the conversation moved beyond price charts and ICO mania toward strategic investment in foundational technologies.
Yi Lihua of LD Capital announced a shift toward a “boutique” investment strategy—focusing on established blockchain firms and teams with exceptional technical depth. Similarly, Xu Chaoyi from BKFund identified industry-specific public chains as a key area of interest, suggesting that vertical solutions may outperform general-purpose blockchains.
Jin Jianjiang of Viking Capital emphasized projects that demonstrate real-world use cases, particularly those solving tangible problems in logistics, healthcare, or energy. His message was clear: investors are looking for substance over hype.
Even Jack Westover, a seasoned blockchain investor, noted the untapped potential of private blockchains within organizations. “China must build its own chains,” he asserted, pointing to national security and technological independence as driving forces.
The Convergence of AI and Blockchain
One of the most forward-looking discussions centered on the synergy between artificial intelligence (AI) and blockchain.
Cai Dong, Chief Data Intelligence Officer at McDonald’s China (referred to as “Golden Arches” in the original), argued that AI and blockchain are natural allies. As blockchain applications generate massive datasets, AI tools like machine learning and deep learning become essential for extracting insights.
Moreover, blockchain’s built-in encryption ensures that data sharing happens without compromising privacy—a critical step toward dismantling data monopolies held by tech giants.
Gao Jiankai from Alibaba Innovation Capital echoed this sentiment. He believes that only when blockchain evolves at the fundamental technical level can it truly converge with AI to create intelligent, secure systems.
Still, he warned against blind trust in smart contracts: “They’re not inherently secure. Like any code, they can have vulnerabilities.”
Global Regulatory Landscape Takes Center Stage
As adoption grows, so does scrutiny. Legal experts at the summit agreed: global regulation is inevitable—and necessary.
Xiao Sa, partner at Beijing Dacheng Law Firm, reiterated that in China, cryptocurrencies like Bitcoin are classified as “specific virtual commodities”—not legal tender. ICOs were banned in September 2017 due to risks of illegal fundraising, and she urged caution among domestic investors.
Tang Wenyan, Chairman of the North American Blockchain Foundation, noted a key difference: while China requires strict licensing to enter financial sectors, many overseas jurisdictions allow innovation as long as anti-money laundering (AML) and know-your-customer (KYC) protocols are followed.
👉 Explore how global compliance shapes the future of digital asset innovation.
Crypto’s Role in Financial Markets
Can cryptocurrencies trigger systemic risk? Opinions varied.
Li Tianjia of the Hong Kong Digital Assets Investment Association called for clearer oversight to prevent investor confusion and market manipulation. He Yu Hao from Amber AI observed that while trading volumes have cooled since 2017’s peak, the overall market size continues to grow—proof of resilience.
Wang Jianbo, CIO of CYBEX, offered a bold prediction: the next bull run may coincide with the first quarter following a global financial crisis. In times of economic uncertainty, he suggested, digital assets could emerge as alternative stores of value.
Frequently Asked Questions (FAQ)
Q: Is blockchain only about cryptocurrency?
A: No. While cryptocurrencies like Bitcoin are built on blockchain, the technology has broader applications—supply chain tracking, identity verification, decentralized finance (DeFi), and secure data sharing across industries.
Q: Why is regulation important for blockchain?
A: Regulation helps protect investors, prevent fraud, and ensure fair markets. It also provides clarity for businesses looking to innovate responsibly within legal boundaries.
Q: Can AI really work with blockchain?
A: Yes. Blockchain secures data integrity and ownership; AI analyzes large datasets. Together, they enable privacy-preserving analytics and intelligent automation in finance, healthcare, and logistics.
Q: Are private blockchains useful?
A: Absolutely. Enterprises use private blockchains for internal processes like auditing, compliance, and inter-departmental coordination—offering transparency without full decentralization.
Q: Will blockchain cause another financial bubble?
A: Speculative bubbles have occurred (e.g., 2017 ICO boom), but mature projects focused on real utility are building sustainable ecosystems less prone to volatility.
Q: Is now a good time to invest in blockchain?
A: Long-term opportunities exist in infrastructure, security layers, cross-chain solutions, and regulated digital asset platforms—especially those solving real-world problems.
👉 See how next-gen blockchain platforms are powering the future economy.
The path forward isn’t about chasing quick profits—it’s about building systems that are transparent, inclusive, and resilient. As this summit showed, progress comes not from lone visionaries but from collective effort: researchers setting standards, entrepreneurs building solutions, investors funding innovation, and regulators guiding growth.
Blockchain isn't just changing technology—it's redefining how we organize trust in society. And while we may still be feeling our way through the fog, each insight brings us closer to clarity.