Who will solve the legal compliance problem of Meta Universe? Zhang Chao of Ouke Cloud Chain pointed out that the key lies in “data governance”

The Whip Bull reported that on November 26, the 2nd Blockchain Rule of Law Summit Forum hosted by the China Science and Technology Law Society and the 14th “Innovation and Rule of Law Forum” of the China Science and Technology Law Society were successfully held in Shanghai. The forum discusses blockchain technology and applications, focuses on blockchain compliance and data security, energizes Metacosmic compliance and legal issues, and promotes the high-quality development of the digital economy.

In the selection process, Ouke Cloud Chain, the world’s leading blockchain industry group, won the “2021 China Blockchain Rule of Law Major Contribution Award”. In the era of digital economy, the development of Metaverse and Blockchain requires data security escort. Ouke Cloud Chain builds a “Steel Great Wall” of data security with its “Chain Eyes” products, which has made outstanding progress in advancing the rule of law in a digital power. contribute.

At the meeting, Zhang Chao, vice president of Ouke Cloud Chain, delivered a keynote speech on “Opportunities and Prospects of Blockchain Big Data”. Zhang Chao believes that whether it is the meta-universe or the combination of the blockchain and the physical industry, the compliance governance must return to its origin, that is, the database, and the core of database governance is the ability to process basic data.

Zhang Chao said that the blockchain itself is a database technology, a distributed database that cannot be tampered with. Through this kind of database, due to its immutability and traceability, it leads to the doctrine of the ledger, the doctrine of trust, and the quantum theory, whether it can be attacked through quantum computing. On top of this, in the application layer, including the investment field, a variety of industries are also landing, but at present, technology and applications still have a certain delay. The face recognition technology we use now is in In the 1990s, all algorithms have been clearly implemented from the algorithm level, but after more than 20 years, we will be able to enjoy services such as face recognition, including neural network algorithms to identify a person, and the use scene, and the social environment and technology at the time. The conditions are closely related.

In recent years, the Chinese government has begun to vigorously lead the original innovation of the blockchain, including new infrastructure projects. Many provinces, municipalities and autonomous regions have also introduced related policies. The national “14th Five-Year” plan also proposed to promote the innovation of blockchain technology. Cultivate and expand emerging digital industries such as blockchain, and accelerate the promotion of digital industrialization. This is the first time that blockchain has been included in the national five-year plan.

But in the market, the real implementation of blockchain is still in the financial field. For example, many projects on public chains represented by Bitcoin and Ethereum, and many overseas startups take blockchain and big data as a direction for entrepreneurship. In some overseas markets, blockchain assets can even be securitized, and the government controls taxation through data analysis on the chain.

However, with the widespread application of blockchain, issues such as blockchain legality and compliance have emerged, and the construction of the rule of law in the blockchain field is facing severe challenges.

Zhang Chao said that the use of black and gray assets for virtual assets on the public chain outside the alliance is forming a new type of crime, and traditional black assets still exist. Digital currency has strong connectivity in other fields abroad, and even has higher liquidity than gold. Why do black ash products use them? They are secretive, cannot be tampered with, and have natural advantages as an accounting system.

The approach of Ouke Cloud Chain is to label the data on the chain through application layer products. It is understood that there are currently more than 700 million Bitcoin-like addresses in the world, and Ouke Cloud Chain has labeled more than 100 million addresses, which involve mathematics, classification, neural network algorithms and clustering. Including simulation application layer procedures. Ouke Cloud Chain can determine that this is an online gambling platform, the number of people involved, and the amount of funds involved through the closing address of Bitcoin in a case. By simulating the operation process of the gambling platform, it will monitor when the suspect goes to the exchange to become reality. Give the police investigation procedure, get the KYC of the suspect, and finally bring it to justice. In 2020, the value of assets jointly recovered by Oukeyun Chain assisted public security organs exceeds RMB 10 billion.

Zhang Chao believes that regardless of whether Metaverse or blockchain credit investigation, or blockchain empowers the efficiency of social governance, the integration of physical industries, etc., they must return to the original source, which is a database, a distributed database. As for how to use these data, it is enough to allocate these data from the process of confirmation, circulation, and use. Ouke Cloud Chain has been exploring for 8 years and has a certain methodology. If the blockchain can bear fruit in any field, Ouke Cloud Chain can contribute basic data processing capabilities and escort the development of a digital power.

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