I'm in the county town, and you say I'm a big shot?

Chapter 699 "This is not only the intention of our central bank, but also the intention of the relevant leaders!"

Fang Qingye looked at him with surprise.

"It's all about human effort! Your Ele.me already meets the listing requirements, right? If you have the chance, let's go to Hong Kong together, talk to the senior executives of the Hong Kong Stock Exchange, and try to get Ele.me listed as soon as possible!"

"Okay," Fang Qingye agreed.

The wedding ceremony lasted half an hour, followed by a grand banquet to entertain the guests. Fang Qingye had originally planned to fly back to Jinghai in the afternoon, but Huang Tao said he had other things to do and planned to stay in Yanjing for two days.

In the afternoon, Fang Qingye received a call from Director Luo of the People's Bank of China at the hotel: "Governor Fang, are you still in Yanjing?"

"Yes, we're waiting for the call from the central bank and other department leaders," Fang Qingye joked.

"Look at what you're saying. Everyone just wanted to take this opportunity to talk to you. The leaders are very interested in the distributed cloud account system developed by Zhiyun Technology. We'll continue our discussion tomorrow morning at nine o'clock in the central bank building. I'll come pick you up then."

"OK!"

The next morning, after Fang Qingye and Yue Kai went downstairs for breakfast, they received a call from Director Luo, who said that the central bank's car was already waiting downstairs.

This time, Fang Qingye didn't bring Yue Kai. He went upstairs to get his laptop, then went downstairs and left the hotel, where a black Audi was waiting for him.

After getting in the car, the Audi disappeared into the traffic on Chang'an Avenue. Upon arriving at the Central Bank building, we followed Director Luo into a conference room on the fourth floor, where several people were already seated.

Fang Qingye knew two people, but there were many more she didn't know. Director Luo introduced them and they shook hands.

After a brief exchange of pleasantries, Fang Qingye began his speech.

"Distinguished leaders, you have all read the relevant materials about our Distributed Cloud Ledger and have a relatively deep understanding of this system. I will not go into the technical details here. If you are interested, you can send someone to Zhiyun Company to learn more. I would like to mention two things here."

"Just a few days ago, a fintech summit was held in Hong Kong, and David, CEO of the well-known American company R3, also participated to promote their distributed ledger system Corda. We have to admit that Corda's design is quite ingenious, completely eliminating redundant global consensus and inefficient data broadcasting. Through 'notary' clusters and peer-to-peer communication, it achieves the privacy and scalability required for financial applications."

Fang Qingye suddenly shifted his focus to R3, a competitor of Zhiyun Technology, which surprised the attendees, who were unsure of what he was trying to say.

"But have you noticed a problem? The Corda platform claims that where Corda data is stored depends entirely on where the nodes are deployed, rather than being predetermined by the Corda network itself."

"But!" Fang Qingye emphasized, "he ignored, or rather deliberately avoided, a fact: the data for identity management services, online mapping services, and other related data are stored on their servers in the United States!"

"Although they claim it is harmless and will not have any impact on enterprise users, I don't believe it. The leaders present here, with their foresight, certainly don't believe these high-sounding words even more."

Fang Qingye's words made everyone laugh.

In fact, they all understood that what Fang Qingye was saying touched on a core issue: "Data security!" "Comrades, let me interject. As far as I know, the country is drafting the 'Cybersecurity Law,' which includes strict regulations on data export. What President Fang said is very important." It was President Pan who spoke.

"But our Cloud Ledger handles this problem very well. All our data resides on nodes! And the location of the nodes depends entirely on where the enterprise deploys them: for example, if you deploy the nodes in a data center in China, then your data remains within China!"

"If American companies do business with Chinese companies, can they deploy their respective nodes in their own countries?" President Wang interjected.

"Yes, for scenarios with extremely high compliance requirements, such as finance and government affairs, a private business network can be deployed. In this model, you can have complete control over the deployment location of all components such as identity management and network mapping, ensuring that the entire network, including support services, is located within a designated country or region."

Upon hearing this, the bank managers began to whisper among themselves.

This is fantastic news!

Doing business with those African countries raises concerns about their cybersecurity, but if they deploy their networks in China, this problem is easily solved.

"Furthermore, R3's President David attempted to explain its security using technical terms at the Hong Kong Summit, but he couldn't avoid a core fact: Corda's original design was based on global, decentralized trust, but this contradicts the increasingly stringent data sovereignty and cybersecurity requirements in China. He cannot promise to completely hand over core data control and algorithm interpretation rights to us," Fang Qingye said with a smile.

“But our cloud ledger can do that. If necessary, I can have Zhiyun Company hand over the highest key management authority to the state or a designated third party for management.”

This statement caused an uproar, and the meeting room erupted in discussion.

"President Fang, are you making another big fuss?" Chairman Cao of the China Banking Regulatory Commission, who had met him a few times and was quite familiar with him, joked, "The CEO of Zhiyun Technology announced in Hong Kong that it would be open source and free, and now you're saying here that you'll hand over key management authority to the state. If this gets out, it will be another big news story."

“But the government won’t take it.” President Pan interjected: “If your cloud ledger is something our country can do behind closed doors, that’s fine. But our goal is to build Cloud Ledger into a platform that is comparable to or even more powerful than Corda. We want to establish Chinese standards worldwide. Giving key management authority to the government will scare away companies from other countries. Let’s keep it with Zhiyun Technology. I trust your professional ethics.”

Fang Qingye smiled slightly upon hearing this and said nothing.

It was just talk originally.
This isn't Bitcoin, which you can just hand over and forget about. You can't mess with this stuff.

After Fang Qingye finished speaking, the participants engaged in a lively discussion, mainly focusing on some strategic and rule-related issues.

Finally, President Pan gave a concluding speech: "Comrades, the emergence of Corda from R3 has shown us the powerful role and wide application of blockchain technology in the financial field. We welcome this technology, but at the same time we have some doubts, because it is a set of rules, but we are not the ones who set them!"

"Our country has suffered too much in this regard, such as the dollar hegemony trap, the unequal WTO rules, and the passive following of communication standards. But the emergence of Ledger has allowed me to set my own rules of the game, which is the significance of Cloud Ledger's existence! Even if it doesn't seem perfect now, it still needs everyone's joint efforts to maintain it!"

At this point, President Pan paused: "This is not only our idea, but also the idea of ​​the relevant leaders!"

(End of this chapter)