“SWISSNEX China’s “BlockChain In Fintech” Seminar

Beijing – The Embassy of Switzerland in China hosted a variety of events during Swiss national holidays. Among them, the afternoon session on Friday July 6th 2018 was a special seminar for the 4th Industrial Revolution era. It is no exaggeration to say that the 21st century is the age of the Fourth Revolution.

The Fourth Industrial Revolution is a new industrial age in which the physical world, the digital world, and the biological world are merged, affecting all areas of economy and society. The fourth industrial revolution, following the mechanization of the first industrial revolution, the mass production of the second industrial revolution, and the informationization of the third industrial revolution, are the physical arts Internet (IoT), robotics, virtual reality (VR) Innovative technologies like the present and future mean the present and the future that change the way we live and work.

Since the Fourth Industrial Revolution, most of the information we have today is electronicized, shared on the Internet, and digitized. As a result, personal information leakage and the resulting currency trading accidents often occur.

The technology that was born to solve these tough problems is the ‘block chain’. A block chain is a distributed data storage technology that transparently records transactions on a book that anyone can read, and replicates and stores them on multiple computers.

Several computers verify the record to prevent hacking. The principle of this block chain is as follows. It is a distributed data storage technology that stores data in a block, connects it in a chain form, replicates it to many computers at the same time and stores it. It is also called a public transaction book. Instead of keeping a record of transactions on a centralized server, it sends transactions to all users participating in the transaction, and every transaction participant is prevented from sharing or sharing information and counterfeiting or tampering with data.

Embassy of Switzerland in China held a seminar on how to use this ‘block chain’ to host this seminar to showcase how to apply block chains in business, as well as establishing a business network for mutual business. The panel of the event was attended by Donald Haudenechild, president of Swisscom Blockchain and university professor, and Elaine Shi, an expert in the block chain. Each panel had an in-depth discussion of the strengths and weaknesses of the block chain, as well as discussing future directions.

The AICC was also invited to share their business information and shared their experiences with these events. In addition to the block chained seminar, the Swiss National Day event also provided an opportunity to experience various products such as clocks, fountain pens, drinks.

by Jeeyoun Lee