The recent rollercoaster ride of digital currencies has captured widespread attention. However, you might discover that cryptocurrencies are just one possibility, while the underlying blockchain technology is the real transformative force. While everyone talks about tokens and cryptocurrencies, we focus on the "true hero" behind them—blockchain. At the TechCrunch Shenzhen blockchain session, the emphasis was on practical applications. Especially in China, from smart city development to supply chains and fintech, blockchain is quietly reshaping how businesses, governments, and consumers operate. This revolutionary technology is changing our methods, breaking old norms, and fostering innovation. What new applications and systems will emerge? Explore the answers at the TC blockchain session.
Key Speakers and Insights
Ray Valdes: Leading Organizational Transformation
Ray Valdes serves as the Chief Transformation Officer at ConsenSys, aiming to transform enterprises, ecosystems, economies, and internal teams through cultural shifts. Previously, he was a Research Vice President and Gartner Fellow, leading blockchain business research for four years. His career began with architecture and implementation of large-scale software systems.
ConsenSys is a global company composed of technologists and entrepreneurs dedicated to building infrastructure, developing applications, and establishing best practices for a decentralized future. Notably, in July 2017, ConsenSys partnered with Mauritius to create an "Ethereum Island." That same year, it was appointed as Dubai's "Blockchain City Advisor," leading the "Smart Dubai" initiative to transition all government documents and transactions to a blockchain platform.
Zhu Yizhen: IoT and Decentralized Solutions
Zhu Yizhen is the CEO and Co-founder of BiiLabs, an IoT blockchain startup. He previously founded DreamBBS, one of Taiwan's top ten BBS sites. In 2017, he co-founded BiiLabs to address IoT challenges using distributed ledger technology, offering privacy-focused solutions.
BiiLabs applies distributed ledger technology to areas like smart cities, energy management, and multi-account systems. Its core technology aids digital transformation across industries, addressing trust, security, growth, and efficiency. Recognized by Hong Kong Fintech News as one of "Taiwan's six most interesting blockchain startups," BiiLabs aims to be a key solution provider for the IoT era.
Zhang Jiachen: Enhancing Data Security
Zhang Jiachen is the founder of Points (PTS) and initiator of Beijing's dCamp blockchain community. With an MBA from Harvard Business School and a master's in public policy from the Kennedy School, she entered the blockchain industry in 2014 while working with investor Tim Draper in Silicon Valley. She later served as COO of Ninebot, a Xiaomi ecosystem company, leading efforts in AI and robotics communities.
Founded in 2017, Points focuses on high-security blockchain data collaboration protocols, initially applied in KYC and credit scoring with access to billions of data points. The team includes graduates from Harvard, Carnegie Mellon, Tsinghua, and Peking University, with experience at Google, Amazon, Xiaomi, and Microsoft. Advisors include Stanford professor Shousheng Zhang and former Ant Financial executives.
Liu Xi: Revolutionizing Supply Chains
Liu Xi (Hope) is the CEO and Co-founder of Eximchain. With an MBA from MIT and an undergraduate degree from Peking University, she began developing Eximchain at the MIT Media Lab in 2015. The project received grants from MIT and was accepted into the Plug and Play Fintech Accelerator. She now explores business opportunities in the U.S. and Asia.
Established at MIT in 2015, Eximchain pioneered a public blockchain-based底层 for supply chain applications, balancing scalability and data privacy. It helps businesses connect, transact, and share information more efficiently and securely. The mainnet launched on October 5, and the company raised $20 million in funding led by FBG Capital, with participation from INBlockchain and Kinetic Capital.
Practical Applications of Blockchain Technology
Blockchain extends far beyond cryptocurrencies, offering tangible benefits across various sectors. Its decentralized nature enhances transparency, security, and efficiency, making it ideal for multiple use cases.
In smart cities, blockchain can manage public records, energy grids, and transportation systems securely. For supply chains, it enables real-time tracking and reduces fraud. In finance, it streamlines transactions and improves accountability.
Businesses are leveraging blockchain for digital identity verification, reducing paperwork and enhancing privacy. Governments use it for voting systems and public service delivery, ensuring integrity and trust.
👉 Explore innovative blockchain solutions
Frequently Asked Questions
What is blockchain's primary function outside cryptocurrencies?
Blockchain serves as a decentralized ledger for recording transactions securely and transparently. It is used in supply chain management, digital identity, smart contracts, and public records, ensuring data integrity without central authority.
How does blockchain enhance security?
Blockchain uses cryptographic hashing and consensus mechanisms to prevent tampering. Each block links to the previous one, creating a chain that is immutable and auditable, reducing risks of fraud and cyberattacks.
Can blockchain be integrated into existing systems?
Yes, blockchain can complement current infrastructures through APIs and custom solutions. Many enterprises adopt hybrid models, combining traditional databases with blockchain for enhanced functionality.
What industries benefit most from blockchain?
Supply chain, healthcare, finance, and government sectors see significant benefits. Blockchain improves traceability, reduces costs, and increases trust in data sharing and transactions.
Is blockchain environmentally sustainable?
New consensus mechanisms like proof-of-stake reduce energy consumption compared to proof-of-work. Ongoing innovations aim to make blockchain more eco-friendly and scalable.
How can businesses start using blockchain?
Begin by identifying use cases that require transparency and security. Partner with experts for pilot projects, and gradually scale implementation based on results and needs.
Conclusion
Blockchain technology holds immense potential beyond cryptocurrencies, driving innovation in smart cities, supply chains, and data security. As industries adopt this transformative tool, we can expect more efficient, transparent, and secure systems. Stay informed and explore how blockchain can revolutionize your field.