Recently, the 24th Annual meeting of American Chinese Finance Association was successfully concluded in New York. Shuai Chu, co-founder of Qtum Quantum chain, attended the blockchain forum as a special guest and accepted an exclusive interview by the organizing committee. Attending the conference were Bo Liu, President of Bank of America Merrill Lynch, Henry Fernandez, Chairman and CEO of Morgan Stanley, Craig Allen, Chairman of US-China Business Council, and Xiao Feng, Vice Chairman of Wanxiang Holdings.



This event is hosted by THE TCFA National Chinese Finance Association, aiming to promote cooperation with the Chinese and American business communities. TCFA brings together global business leaders, trade policy experts, technology innovators and university students from major universities to face up to issues with an open and frank attitude and discuss the evolving trends of politics, economy and technology.

As one of the first blockchain technology pioneers in China to contact Bitcoin, Shuai chu shared with Wilfred Daye, Head of FINANCIAL Markets at OKCoin USA, Kevin Shtofman, Head of Blockchain and Technology Strategy at Deloitte, and Liu Sheng, Chief Software Architect at Linkage Advantage. Shuai chu analyzed the challenges and opportunities of the current development of blockchain technology with his unique and professional vision.


“Blockchain was born with a historical opportunity to pioneer distributed concepts,” Shuai said. It’s potentially disruptive from a technology perspective, because it pushes the Internet from an information Internet to a value Internet. However, it is an indisputable fact that blockchain technology is still in its early stages and there are still many obstacles to overcome on the long road to development.
Technically, how to balance decentralization and efficiency, how to effectively implement blockchain governance, how to simplify smart contract deployment and so on. In terms of application, there are still few industries that can be highly riveted with blockchain, and it is difficult to achieve large-scale implementation in the short term.In addition, the whole industry lacks enough good developers and the talent pool is also slightly insufficient, which is not conducive to the sustainable development of the blockchain ecosystem.”


After the conference, Shuai Chu, co-founder of Qtum Quantum chain, accepted an exclusive interview with the organizing Committee and discussed the relevant issues facing blockchain technology. The following is a brief transcript of the interview.

01

Thoughts on the future of Bitcoin?

I have been in contact with this industry for 6 years, and I am quite optimistic about the future prospects of this field, because it marks a higher stage of Internet economic development, and also gives birth to a new paradigm of wealth creation.

02

What do you think of the public controversy over Bitcoin?

In the early stages of new technology development, it is difficult for the public to have a deep understanding of it in a short time. In addition, different from other emerging technologies such as artificial intelligence, the development of blockchain is accompanied by economic games, which will produce more contradictions and disputes.

03

How to view the compliance supervision in the field of blockchain?

I think technology tends to run ahead of regulation, and this is especially true in the blockchain space. It represents a distributed governance mode in nature, which is quite different from the various centralized governance modes in reality. Another point is that blockchains involve the transfer of power from concentration to decentralization, which may push the boundaries of law. So we need to find the right path to make our efforts as blockchain entrepreneurs compliant. That’s the only way blockchain, an emerging technology, can go mainstream.