According to recent statistics, since the two sessions, concept stocks in the block stock sector have surged by 14%. This has sparked a wave of enthusiasm among investors and media alike. However, when reporters spoke with several representative members, they found that many remained cautiously optimistic about the blockchain industry, which is currently experiencing a surge in hype.
Yao Jinbo, a member of the National People's Congress and chairman of the 58th Group, shared his insights with International Finance News. He mentioned that teams within the 58th Group are actively exploring blockchain technology. He believes that blockchain could become a key direction for social governance and internet development, as it can help solve trust issues and significantly reduce transaction costs. However, he also admitted that many current blockchain projects are "virtual" — built more on concepts than real applications — and have raised large amounts of money through ICOs. He expressed concern over this trend.
Ding Lei, a member of the Chinese People's Political Consultative Conference and CEO of NetEase, once shared on his social circle that he does not hold Bitcoin but considers himself a believer in blockchain. His company has been experimenting with blockchain technology, launching the Planet App in February, which allowed users to share unique codes and post them on their social circles. However, the app soon faced criticism for privacy issues.
In response to the controversy, Ding Lei clarified that the blockchain feature used in the Planet App was designed to protect user data, including personal behavior and online activity. He emphasized that users should have control over their information and be able to use it for transactions or other services.
Despite the growing interest in blockchain, Ding Lei warned that not every company claiming to use blockchain is actually implementing it effectively. Some may simply be using the term as a marketing tactic. He urged people to look beyond the hype and assess whether blockchain is truly being applied in a meaningful way within industries.
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