Market Demand is the Vital for Blockchain to Move Forward

Market Demand is the Vital for Blockchain to Move Forward

(LINFINITY Roundtable Discussion in Beijing)

LINFINITY hosted a roundtable discussion on the topic of “The Present and Future Development of Blockchain Technology” at W Hotel, Beijing. Anndy Lian, CEO of LINFINITY, delivered opening remarks and served as moderator for the event. The attendants included many leading private-sector practitioners in the field of blockchain research institution, home appliance vertical media and representatives from manufacturer brands, including Huobi R&D Institute, Chinese Acadamy of Social Science,, Yixi Chinese Rice Wine.

Blockchain Implementation should be Market Oriented and Demand Driven

Blockchain has been around for nearly ten years, yet it did not become popular until the recent two years. This technology is powerful, whether it is applicable to all industries remains a question to many. “Not all blockchain technologies are suitable for combining with traditional industries,” Anndy Lian explained, “You have to find suitable solutions and usage in blockchain technology that can address the pain points in traditional industries, so that they can realize their value. It is not sensible to just follow blindly!”

Projects with Real Commercial Value Attract Real Capital

Blockchain projects come out every day, as Guo Dazhi from Huobi Research Institute said: “There are many projects, but most of them are very similar, the only thing that differentiate the quality projects from the rest is the actual use cases.” he added: “The project needs to find its own way.” What he says is a common pain point in the blockchain industry.

Now blockchain projects are coming out everyday, many of them are in the name of blockchain only to get money. Such phenomenon occurs because the society is lack of understanding of blockchain and the blockchain technology, and most people when they think of blockchain the only thing come to their mind is token speculation. However, those who eventually stand out are projects which are doing the real works and have actual use cases. By finding the real demand of the market and taking such demand as the direction for the project development.

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Alliance Capital have expressed their views on this issue. He mentioned that most people think winter has come for the finance sector so many think that it is money that holds back the commercialization of the blockchain. This is not true. Blockchain projects should understand their clients’ business logic, advantages and disadvantages, and the market they target at. In fact, what lacks in the capital market is never the capital, but good projects. Capital companies are always open to listen to blockchain projects with a good vision, high commercial value and have sheer determination to drive implementation of use case studies.

(Anndy attends LINFINITY Roundtable Discussion in Beijing)

Focused on Solving Pain Points within Supply Chain and Implementing More Use Case Studies

During the meeting, Anndy Lian introduced the anti-counterfeiting and traceability solutions of LINFINITY in detail to the participants. This topic has gained sparked new conversations among the participants. “Traceability is very important in the home appliances industry. Traditional enterprises should explore how blockchain can be applied to their existing supply chain management systems to further enhance and streamline their processes. ” said Wan Tao, General Manager of Through the LINFINITY supply chain anti-counterfeiting traceability system, it is easy to check all procedures and item status in supply chain, such as the supply of raw materials, logistics, distribution and so on. In particular, fast consumer goods industry such as wine industry is viewed as a disastrous area with fake and inferior products.

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Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

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Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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