Bridging cultures with a focus on technology – China & Europe

TL;DR

China's government has developed a comprehensive blockchain strategy that includes the rollout of the Blockchain Service Network (BSN) and the digital yuan, aiming to create an open-source blockchain protocol and an ecosystem for global governance-as-a-service.

Transcript

hello i'm your host effy pilarino and today i have the pleasure to reach out to a newly found colleague on on ligdin who is based in shanghai and i'm really excited to to welcome hans you're the webber welcome hans here i i'm really happy to meet you and it's a pleasure for me to be your guest so so let me say the story briefly of of why i connecte... Read More

Key Insights

• 🤗 China's government has a long-term strategy to develop and promote blockchain technology, as demonstrated by the creation of the BSN and its focus on an open-source blockchain protocol.
• 👾 The digital yuan is part of China's ambition to establish dominance in the global digital payment space, potentially challenging existing currencies and payment systems.
• 🐕‍🦺 China's approach to governance, through initiatives like government-as-a-service, reflects a top-down, meritocratic system that aligns the entire nation towards specific goals and strategies.
• 👾 China's efforts in the blockchain and digital payment space have not been hindered by the COVID-19 pandemic, and they continue to progress despite global economic uncertainties.
• 💦 China's strategy is driven by a desire to gain independence from external resources and become a technological leader, focusing on work power and harnessing the potential of its smart population.
• 🌐 The accenture study on government-as-a-platform fails to mention China and India, despite their significant digital advancements and potential impact on the global stage.
• 🤑 The rollout of the digital yuan has involved various experiments, such as subsidizing transportation costs and distributing free money, to promote acceptance and familiarity with the new currency.

Questions & Answers

Q: What is the Blockchain Service Network (BSN) in China?

The BSN is an ambitious government project launched eight years ago to develop a cloud-based open-source blockchain protocol. It aims to offer individuals and organizations the opportunity to create and deploy blockchain-based applications on a global scale.

Q: How does the BSN differ from other blockchain protocols and initiatives?

The BSN is unique because it is a country-level initiative, backed by the Chinese government. It aims to create a complete ecosystem that goes beyond blockchain currencies, encompassing governance-as-a-service, payment systems, e-commerce, and more.

Q: How does China's government view the digital yuan?

China sees the digital yuan as a strategic tool to replace traditional payment systems and establish a global digital payment infrastructure. The aim is to make the digital yuan widely accepted and accessible outside of China, offering benefits to users and potentially challenging the dominance of existing currencies.

Q: Who are the key figures in China's blockchain and digital yuan initiatives?

Unlike Western countries where key figures in technology and finance often take the spotlight, China operates with a top-down approach. While there are influential individuals and CEOs in Chinese companies involved in these initiatives, the decision-making process involves a broader group of advisors and experts within the government.

Summary & Key Takeaways

• The speaker introduces Hans York, an expert in international relations and the intersection of technology, education, and cultural differences between the West and the East.

• Hans York explains his background and experience in China, supporting companies in entering the Chinese market and promoting cross-cultural understanding.

• They discuss the concept of government as a service, China's blockchain strategy, and the significance of the Blockchain Service Network (BSN).