The Rise of Blockchain Amid AI Disruption
As artificial intelligence transforms traditional industries, emerging technologies like blockchain and Bitcoin are gaining traction. Many overseas-educated entrepreneurs are now focusing on blockchain applications. This article explores how returnees can carve a niche in this evolving field.
Why Returnees Are Embracing Blockchain
Infrastructure Challenges and Opportunities
Wang Bo, a Peking University physics graduate with extensive blockchain startup experience abroad, notes:
"Blockchain is still in its 'primitive stage'—its code infrastructure remains underdeveloped. The technology’s core value lies in deintermediation, enabling transparent asset arbitration without traditional intermediaries."
Zhang Ren, former collaborator with Bitcoin’s technical team and now researcher at Cryptape, adds:
"Blockchain merges research with industry. For returnees, it’s a frontier ripe with potential—if they master interdisciplinary skills like cryptography and distributed systems."
Key Blockchain Trends
1. Decentralization vs. Deintermediation
- Current State: Compared to AI’s decades of development, blockchain is nascent. Universities like Renmin University are establishing labs to study its foundational tech.
- Public Understanding: Complexities like asymmetric cryptography create barriers. Simplified, blockchain ensures tamper-proof data consensus for digital asset ownership.
2. Industry Applications Driving Progress
- Finance: Banks globally invest in blockchain R&D for its liquidity and fairness advantages.
- Gaming: Upcoming blockchain games aim to eliminate cheating and unfulfilled developer promises.
- Government: Professor Wang Dong highlights regulatory potential—e.g., integrating tax/social security systems on-chain for optimized oversight.
Navigating Blockchain Entrepreneurship
Strategic Focus Areas for Returnees
- Avoiding "Red Lines": Steer clear of exchange setups or security token offerings that may breach regulations.
- Technical Innovation: Existing standards (e.g., Ethereum) handle ~15 transactions/second vs. Alibaba’s 100,000. Returnees must push scalability solutions.
- Standardization: Participate in global rule-making (e.g., Ethereum’s public chain standards) to transform protocols into industry norms.
👉 Explore blockchain’s future applications
China’s Blockchain Landscape
- Growth: Patent filings surged from 2 (2014) to 428 (2017); private equity investments reached $0.76B.
- Regulation: Post-2017 ICO ban, China established financial stability frameworks while encouraging global collaboration on policy standards.
FAQ
Q: Is blockchain just about Bitcoin?
A: No—while Bitcoin popularized blockchain, the tech spans finance, logistics, and governance through its tamper-proof ledger system.
Q: What skills do blockchain entrepreneurs need?
A: Expertise in computer science, cryptography, and economics, plus adaptability to evolving regulations.
Q: Why is China favorable for blockchain startups?
A: High tech adoption rates (e.g., mobile payments) and structured policies foster innovation within clear boundaries.
👉 Learn how blockchain is reshaping industries