Blockchain technology has rapidly evolved from the foundational Bitcoin to thousands of digital currencies, expanding its reach from tech enthusiasts to mainstream users. Its influence now spans numerous industries. While many institutions focus on issuing coins and individuals engage in mining, what else can blockchain accomplish beyond its association with digital currencies?
In reality, digital currencies represent only the most basic application of blockchain. Mainstream perspectives often categorize blockchain’s evolution into three stages: Version 1.0, characterized by cryptocurrencies like Bitcoin; Version 2.0, marked by its broad adoption in the financial sector; and Version 3.0, where blockchain offers decentralized solutions across various industries.
A whitepaper published by the Information Center of the Ministry of Industry and Information Technology highlighted that blockchain is already widely used in China’s financial industry and real economy sectors, forming a preliminary industrial chain.
The Emergence of a Blockchain Industry Chain
Since the concept of Bitcoin was introduced in 2008, blockchain technology has developed over nearly a decade. As the technology matures, its applications have progressed from Version 1.0 to Version 3.0, with an increasing number of industries proposing their own blockchain-based solutions.
According to the whitepaper, China’s blockchain industry chain has taken initial shape. It encompasses upstream activities like hardware manufacturing, infrastructure, and security services, downstream industry-specific technical applications, and supporting services such as investment, media, and talent development.
Beyond the vertical industry chain, blockchain applications have also horizontally penetrated various sectors. In finance, blockchain is already implemented in areas like payment清算, credit financing, financial trading, securities, insurance, and leasing.
In the real economy, blockchain technology is used for electronic information storage, copyright management and trading, product traceability, digital asset transactions, the Internet of Things (IoT), smart manufacturing, and supply chain management.
For instance, in product traceability, Tsinghua University, Walmart, and IBM collaborated on a blockchain-based initiative for food traceability. This project enables full supply-chain tracking, linking digital product information with corresponding food items.
Innovative Approaches to Copyright Protection
As another practical application of blockchain in the real economy, blockchain plays a significant role in copyright protection—covering verification, usage, and enforcement. Experts summarize this as "creation implies verification, transaction implies authorization, and discovery implies protection."
In the verification stage, companies like Amnie Corporation have launched platforms such as "Copyright House." By extracting and uploading digital content summaries to the blockchain, these platforms ensure content integrity and originality. They also incorporate nationally recognized digital certificates and trusted timestamps to provide proof of existence, ownership, authorization, and evidence fixation for infringement cases.
Additionally, platforms like "Manuscript Hub" facilitate content usage by connecting contributors and clients. When a submission meets requirements, the transaction generates an electronically signed contract with legal effect. If a submission doesn’t meet criteria, it is registered and stored on the platform’s "manuscript supermarket" for future use by others.
For enforcement, companies such as Chongqing Xiaoxi Intelligent Technology have developed copyright chains that use mass retrieval and machine screening for detecting infringement. Combining artificial intelligence with blockchain-based evidence storage significantly improves efficiency and reduces the cost of collecting and confirming electronic evidence.
Across the broader blockchain field, companies continue to innovate with products like home mining machines and hardware wallets, contributing to economic development and structural optimization.
The future of blockchain technology promises a multi-trillion-dollar market opportunity.
Prospects: Promise or Profit?
There is no doubt that blockchain, as a disruptive technology, is guiding a new wave of global technological and industrial transformation. Businesses, both large and small, are eager to incorporate blockchain, often believing that a "blockchain" label can guarantee success in capital markets.
There have been instances where companies experienced dramatic stock price increases after announcing blockchain-related initiatives. However, some of these gains proved unsustainable, leading to market corrections and regulatory scrutiny.
While the introduction of blockchain concepts can generate short-term excitement, the real question is what remains after the hype subsides. Certainly, many enterprises are genuinely promoting practical blockchain applications. Yet, others misuse the "blockchain" concept, joining speculative trends and inflating a potential bubble.
In the blockchain space, some participants focus on technical development (the "chain" circle), while others prioritize currency speculation (the "coin" circle). Both groups contribute to raising awareness of blockchain’s potential, but ultimately, the market will distinguish substantive contributions from mere speculation.
Blockchain may continue advancing rapidly with collaborative effort—or it might be too early to discuss widespread adoption. Only time will tell which perspective prevails.
For those interested in further exploration, 👉 discover practical blockchain tools that support real-world applications.
Frequently Asked Questions
What are the main stages of blockchain development?
Blockchain evolution is commonly divided into three phases: Version 1.0 (digital currencies like Bitcoin), Version 2.0 (financial applications), and Version 3.0 (decentralized solutions for various industries).
How is blockchain used in copyright protection?
Blockchain supports copyright verification by storing digital content summaries, facilitates authorized usage through smart contracts, and enables efficient infringement detection via AI and evidence storage.
Can blockchain be applied beyond finance?
Yes, blockchain is widely used in real economy sectors such as supply chain management, IoT, product traceability, and smart manufacturing, offering transparency and efficiency.
What is the difference between 'chain' and 'coin' circles?
The "chain" circle focuses on blockchain technology and infrastructure development, while the "coin" circle emphasizes cryptocurrency trading and investment.
How does blockchain improve product traceability?
By recording every step of a product’s journey on an immutable ledger, blockchain enables full supply-chain visibility, reducing fraud and ensuring authenticity.
Is blockchain adoption sustainable long-term?
While hype has driven short-term interest, sustainable adoption depends on practical implementations that solve real-world problems rather than speculative ventures.