Ultrain与金刻羽教授合作建立区块链的新时代

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KEYU JIN

Keyu Jin, a professor of economics at the London School of Economics, is a World Economic Forum Young Global Leader and a member of the Richemont Group Advisory Board.

尽管个人看法不同，但对我而言，成功只意味着你对社会有所影响。这些年，关于成功的定义在不断变化。一开始，我们只对与成功相关的特质感兴趣，比如名望，权势或财富。多年以后，我认识到唯有使他人满怀敬意的成功才能使我感兴趣。在这世上，有太多成功人士，他们功劳卓著，工作勤劳，智力超群，却也不一定就能做到这点。而且在成功圈里，你能看到一些最缺乏自信的人。所以我们必须依靠巨大的道德义务获得成功，因为它对我意义非凡 ------金刻羽 《我对学习，事业的看法》

金刻羽教授被任命为Ultrain的首席经济顾问，这是金教授第一次作为区块链公司的顾问参与其中。Ultrain和教授之间的这种合作代表了双方的共同价值观和共同利益，也表明双方将在区块链经济体系中联合起来并实施建设性意见。

金教授演讲全文：

In the past four decades, China has created a miracle. If the industrial revolution was considered a momentous event, it was because it raised the living standards of human being by 75% within one lifetime. In China, in our generation, it is conceivable that our living standards would rise by 75 fold.

The same kind of miracle is being created as we speak in a new realm of technology. The world of blockchain has the potential to fundamentally change how the economy and society will function. We can achieve even the unimaginable.

As an economist, I like to think about how the blockchain space can reduce into a series of economic problems; it is like reframing the whole field of economics to adapt to the new world of blockchain. Much has to be done, but much we already know. I find it fascinating because the vast range of issues will not only entail microeconomic subjects, such as contract theory, mechanism design, and finance, but also touch upon many macroeconomic theory, such as currency, monetary policy, and regulation. The beauty of the cross-field collaboration is that we economists already have a lot of the tools to think about and assess both the benefits and challenges of the design of this new world.

Blockchain technology will expand the scope of our economic system, and enlarge the pool of participants in that system, as well as resolve many issues that the traditional economy could not resolve. So, unlike what many people think, it is not just about relying less on authorities and institutions and intermediaries which we don’t trust. It is also about raising efficiency and welfare by tackling inherent problems such as information asymmetry, collusion, moral hazard that the real world has. Because of these problems, the economy is laden with mispricings and distortions. Many potential participants may be excluded from participation. But blockchain technology can resolve that, and enlarge the space in which contracts and collaborations may be made.

In the future, blockchain technologies can trace consumers’ transaction and credit histories. Banks can use blockchains to trace interbank loans or manage their clients’ collateral; governments may also turn to blockchains to maintain land registries. Even luxury goods companies, for example Cartier, whose parent company is Richemont on which I am a board member, we have already started using blockchain technologies. We need to know where the diamonds, the stones, the gold come from, trace it back to the mine or recycling plant. For watches that we have sold, we would like to trace the products’ afterlife, authenticate them, after-sales treatment of pre-owned repairs; we would also like to control parallel markets.

Like any major technology that has been invented in the past, engineering is only part of the story. There are still some fundamental challenges to the system that prevent it from being secure and scalable at a fast pace. We economists have already started thinking about these problems and ways to solve them. We need to combine the forces of our understanding of economic systems and the engineering design of that system to create the most value for society.

Let me say a few words about why I chose to be part of this team. Apart from my deep interest in this area, I am especially impressed by the team members of Ultrain. I met Emma a few years ago, and when she told me the thesis behind the technology and the team, I was very impressed. The first thing I look for in collaboration is the people, the human capital, and then after that it is the idea. Both they have come together in this dream team, and their passion and commitment to create tremendous value — -as the primary goal — -convinced me that it will be a great honour to work with them. Together we will think about not only the infrastructure and the technical design of the product, but also its applicability and value creation for society. It took electricity almost 25 years to exert its impact on society, and now we cannot live without it. There may be a day when we can say the same about blockchain.

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