Beaver

CDS symposium discuss challenges and possibilities of blockchain technology

by Jeffrey Wang

The China Development Society hosted one of its annual Bridging Minds Symposiums this past Wednesday, 4 December. The topic, ‘The Future of Blockchain: Developments, Directions and Challenges,’ attracted interest from upwards to 60 students.

The event featured speakers such as Anthony Welfare, director for group blockchain practice for DXC technology and Luxoft, Ismail Mali, CEO of blockchain lab and Hui Gong, lecturer in Finance and Fintech at the Westminister Business school. Panelists discussed a variety of questions, including the implications of President Xi Jinping’s Blockchain adoption, the potential risk of implementing Blockchain technologies and the global impact of blockchain technology on national currencies.

The experts shared their opinions on public mistrust of financial institutions, the limits of traditional financial institutions, and the importance of trust in blockchain developments. Hui Gong spoke on the lack of industry standards in Blockchain and China’s leading role in setting the standards for the technology. Ismail Mali spoke on how a Blockchain-style decentralized economy will encourage a fifth industrial revolution in tandem with the Belt and Road financial program.

The well-attended event attracted LSE, KCL and Imperial College students from a diverse range of courses. Charissa Zhang, a first-year economics student from LSE commented on the event, “The experts brought up many good points on the future of blockchain economics, and it really has me considering how I can apply what I am learning in school to a future in the industry.”

Eric Wang a first-year economics and mathematics student, and one of the Symposium organizers, told The Beaver, “We think that the Bridging Minds Symposiums (BMS) offer an opportunity to hear both Eastern and Western opinions and present an opportunity for mutual discussion. We also think that these BMS offer a preview to our broader China Development Forum later in the year and that they present an opportunity for more people to interact with us.”

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