China Central television (CCTV), the main state TV channel in the people’s Republic of China, stated that the economic value of blockchain technology “is 10 times bigger than the Internet”.
In a show called “Dialogue”, which was broadcast on Sunday evening on the financial channel CCTV Chen Weijun conducted a one hour discussion, the purpose of which was to explain the basic concepts of blockchain technology and its potential.
The show was attended by famous figures of the industry the blockchain in both the private and public sectors, including don Tapscott, author of the famous “Blockchain revolution.”
Among other participants were Chen lei, CEO of cloud network Xunlei, and Zhang Shusen, Professor of physics at Stanford University and founder of Danhua Capital, a venture capital company that invests in projects based on blockchain technology.
In the first part of the show, Tapscott and Chen talked about the underlying concepts, technologies, and secondly, Chen, describing the potential of new technologies, stated that its value 10 times more than the value of the Internet. Zhang Shusen, in turn, stated that:
The real value of the Internet is to bring together information in one place. A striking example is the activities of such companies as Google and Facebook. But now, we are entering an era where information is becoming decentralized, so people could own their personal data. This is the real value of the blockchain technology.
Despite the overall positive tone of the discussion, not without its negatives. In particular, criticism was directed against the ICO projects. Recall. since the autumn of last year, China officially banned the ICO.