Blockchain for Computational EconomicsDKU Field Trip to Shanghai Wanxiang Blockchain Inc.
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Blockchain for Computational Economics
DKU Field Trip to Shanghai Wanxiang Blockchain Inc.
区块链赋能计算经济学
昆山杜克大学研学访问万向区块链上海总部
On Blockchain We Trust
智链万物 信至行远
DKUer Learn Beyond Boundaries
昆山杜克 学无边界
I. Introduction 活动摘要
Duke Kunshan University (DKU) is committed to providing students with unparalleled learning opportunities that prepare them for success in a rapidly changing world. On Mar 24, 2023, DKU students from Prof. Luyao Zhang’s interdisciplinary and research-oriented course COMPSCI/ECON 206 Computational Microeconomics had the unique opportunity to visit Shanghai Wanxiang Blockchain Inc. Through this immersive experience, the students were able to learn firsthand about the various applications of blockchain technology and its disruptive impact on industries ranging from finance, the cultural and creative industry, and supply chain management. They also had the opportunity to engage with top industry professionals, discuss, and gain valuable insights into the latest trends and developments in this rapidly evolving field.
Shanghai Wanxiang Blockchain Inc., formerly known as Wanxiang Blockchain Labs, was founded in 2017. Funded by China Wanxiang Holdings, Wanxiang Blockchain Labs is a non-profit research institution centered on blockchain technology, that provides support for research, entrepreneurship, developments, and applications in the industry, while also serving as a source of information for regulatory bodies. Overall, Wanxiang Blockchain Labs has been devoted to the promotion and application of the blockchain industry, and to investigating how the technology will contribute to the development of the economy and society. As the first research organization in China determined to support the development of blockchain technology globally, Wanxiang Blockchain Labs has been hosting global blockchain summits in China, which have become one of the most influential industrial events in Asia.
During the visit to Shanghai Wanxiang Blockchain Inc., students had the opportunity to explore the Shanghai (North Bund) Blockchain Demonstration Center, which is a state-of-the-art facility that showcases some of the latest innovations in the field of blockchain technology. This tour was led by Sr. Director Yukun Hao on behalf of Director Yu Du, who provided us with a comprehensive overview of the various application scenarios, such as digital finance, supply chain management, smart cities, and even implementation in real industry. Students were impressed by the cutting-edge technology on display, including advanced blockchain platforms and applications that have the potential to transform a range of industries. Sr. Director Hao also explained how the center is working with various organizations to develop customized blockchain solutions that can help address specific business needs and challenges. Director Hao also extended a warm welcome to the visiting scholars of Duke Kunshan University on behalf of Director Yu Du who is preparing for the Web3 Carnival in Hong Kong.
During this visit, it invited four experts from Wanxiang Blockchain Labs to deliver keynote speeches on the potential impact of blockchain technology on various industries in society. These speeches provided the students with valuable insights and perspectives on the disruptive potential of blockchain technology.
The first keynote speaker was Ms. Chen Cui, the research manager of Wanxiang Blockchain Labs. Cui gave a detailed presentation on the potential risks associated with the crypto market, using the example of the recent collapse of the FTX, one of the previous largest centralized exchanges. She explained how the lack of proper regulation and oversight in the market could lead to major financial losses for investors. Cui emphasized the importance of regulatory compliance and risk management in the crypto market, in order to ensure the stability and long-term sustainability of the industry.
After lunch, Mr. Yaojia Fan led a discussion on Non-Fungible Tokens (NFTs), which are becoming increasingly popular in the digital world. Fan explained how NFTs could be used as digital passports for accessing various online assets and resources, including digital art, music, and even virtual real estate. He described how NFTs are becoming an essential part of the Web 3.0 ecosystem, enabling users to securely and transparently exchange digital assets without intermediaries.
午餐后，万向区块链实验室的范耀佳先生主持了一场关于 Web 3.0 领域最近爆火的非同质化代币（NFT）的讨论。 他结合具体生动的案例向学生们解释了 NFT 如何作为数字通证，来访问数字世界的资产和资源，其中包括数字艺术、音乐，甚至虚拟房地产。 此外，通过这些案例，他向学生们具体阐释了 NFT 将如何成为 Web 3.0 生态系统的重要组成部分，使用户能够在没有中间商的情况下安全、透明地交换数字资产。
Hang Xu
Next comes Ms. Hang Xu, a blockchain solutions architect at Wanxiang Blockchain Labs. Xu focused on the potential of blockchain technology to empower traditional financial institutions, such as traditional banks and insurance companies. She explained how blockchain could enable faster, more secure, and more efficient transactions while reducing costs and improving customer experiences. She also highlighted some of the challenges and opportunities associated with implementing blockchain solutions in the financial industry.
Finally, Mr. Peng Ju used several case studies to illustrate how blockchain technology can improve supply chain collaboration and management. Ju explained how blockchain can provide a secure and transparent platform for tracking the movement of goods and verifying the authenticity of products. He also discussed how blockchain can help reduce fraud, waste, and inefficiencies in the supply chain, ultimately benefiting both producers and consumers.
Before the field trip ended, Sr. Director Hao prepared several copies of "The Truth Machine: The Blockchain and Future of Everything" for DKU students, entrusted by Vice President Feng Xiao of Wanxiang Holdings. He encouraged students to learn more about blockchain technology through various channels and keep up with the trend of the times and science. With their generous gesture, leaders from Wanxiang Blockchain Labs showed their dedication to supporting education and empowering the next generation of leaders in the field of blockchain technology.
Through this field trip, students gained a deeper understanding of the real-world applications and implications of blockchain technology. They took the chance to observe first-hand the operations and facilities of a leading blockchain company, as well as ask questions and engage in discussions with the guest speakers. After the field trip, students actively reflected on this experience and shared their thoughts and insights with their peers. This reflection process not only helped them consolidate their understanding of the topics covered during the field trip but also enabled them to develop their critical thinking and analytical skills. Below demonstrates some examples of students' reflections：
I am Yiyang Chen, a sophomore student majoring in political economy with a track in Economics, Political Science, and Public Policy. I chose this major thanks to the assistance of DKU's interdisciplinary course system, which makes it feasible for me to explore various courses and topics that interest me.
This field trip is a precious opportunity for me to have the chance to discuss with the first-line researchers in the blockchain field. Especially about the governance challenges in regulating digital currencies, their concerns on offshore exchange and initiating domestic regulation are instructive to my research problem promoting. I learned that cryptocurrency regulation should stand on a global perspective to avoid hypesters manipulating the price. In all, this event provides me with deeper insights into how to dig deeper into my blockchain research.
Xintong Wu is a sophomore at DKU, majoring in Computation and Design/Digital Media. Interested research areas include UI/UX and digital marketing.
吴欣桐，昆山杜克大学大二学生，计算与设计/数字媒体专业。感兴趣的研究领域是用户设计和数字营销。
Through the engineer's sharing about the risks and regulatory issues in the crypto asset market, we explored the decentralization of the unlicensed blockchain among them and the security issues that may arise from the anonymity. It prompted me to further think about how to update blockchain contracts and existing policies to strengthen the regulation of industry norms and ensure the healthy operation of the market. It would be helpful to understand the current market demand and user pain points for my future research work.
Yiyuan Qin is a senior at DKU, majoring in Data Science. Interested research areas include green finance and climate change, and she plans to put her lifelong efforts into this field.
I am super happy to be able to go to Wanxiang to learn! Once my understanding of blockchain remained in the concept and traditional financial field applications, but in this event, I found that blockchain can be combined with a variety of fields, such as games, smart cities, and so on, I'm most interested in how blockchain can be integrated with green finance and the environment, such as tracking carbon footprints. And I have already carried out some related projects, which may have crucial reference significance for my future research direction and work.
Yutong Quan is a junior student majoring in Political Economy with an Economics track. Interested research areas include blockchain governance, decentralized finance, and interdisciplinary fields of Artificial Intelligence and economics.
Visiting the Wanxiang Blockchain was an incredibly interesting and meaningful experience for me. Exploring the exhibition hall and conversing with the engineers expanded my understanding of blockchain from various perspectives. Previously, blockchain was merely a high-tech and academic research topic to me, but now it has become a tangible existence with practical applications. For example, blockchain technology can be employed to track the growth and development of cattle, or to build smart cities where everything is interconnected. Furthermore, the discussions on cryptocurrency risks and regulatory issues opened up a new direction of thinking for me. This field trip experience would inspire me to delve deeper into the field of blockchain and pursue further exploration.
To conclude, the field trip to Shanghai Wanxiang Blockchain Inc. was a highly valuable and informative experience for Duke Kunshan University students. They were able to expand their knowledge and learn from leading experts in the blockchain industry, gain insights into the real-world applications of this technology, and engage in discussions and reflections that deepened their understanding of the potential of blockchain to transform various industries. This field trip provided a unique opportunity for students to connect theoretical concepts learned in the classroom to real-world practices and innovations and is an example of Duke Kunshan's commitment to providing its students with practical and experiential learning opportunities.
We would like to express our sincerest gratitude to three staff at Duke Kunshan University for their invaluable support in making this field trip to Shanghai Wanxiang Blockchain Inc. such a success. First and foremost, we would like to thank Issac Zhu, for his unwavering support throughout the planning and execution of this trip.
Isaac Zhu joined Duke Kunshan University on April 19, 2021, as the undergraduate academic activities coordinator. His main job responsibilities are providing comprehensive academic support for the smooth operation of academic activities for the undergraduate degree and non-degree programs at DKU. Working closely with DKU faculty and the other undergraduate academic activities coordinator, Issac will lead, manage, and initiate various academic activities including but not limited to class field trips, class activities, class guest lecturers, and other activities that enhance the student’s academic life. He received his Bachelor’s degree in Marketing and Sports Management from Saint Mary’s University of Minnesota in December 2011.
Additionally, we would like to acknowledge the efforts of Bingyao Hu and Shuqian Xu, who provided logistical support and made sure that everything ran smoothly. Bingyao Hu joined Duke Kunshan University on September 19, 2022, as Undergraduate Studies Office Coordinator, in the Office of UG Studies. She received her Bachelor’s degree in Mathematics from the University of Wisconsin-Madison in December 2019, and her Master’s degree in International Education Policy from Harvard University in March 2022. Previously, she worked as a Research Assistant at China Development Research Foundation in Beijing from April to August 2021. Shuqian Xu joined Duke Kunshan University on November 18, 2019. She is the Senior Coordinator for the Undergraduate Program Division of Social Sciences. She received her Bachelor’s degree in Health Management and Communication from the Nanjing University of Chinese Medicine and Swinburne University of Technology in July, 2017. She received her Master’s degree in Human Resource Management and Advertising from the University of Queensland in December, 2019.
Tianyu Wu is a senior student majoring in Applied Mathematics and Computational Science/Math at Duke Kunshan University (DKU), and he is ready to go to Northwestern University to pursue a master of science degree in analytics this Fall. He has been devoting himself to interdisciplinary research on blockchain since his second year, and his current interest lies in adopting data science techniques to contribute to and empower the applications of blockchain technology.
Zichao Chen is a senior student majoring in data science at Duke Kunshan University. He has two years of research experience in blockchain-related applications, including NFT, decentralized finance, and cryptocurrency. After graduation, he will go to Duke University's Master of Financial Technology program and continue to explore research topics such as blockchain and finance.
Luyao (Sunshine) Zhang is Assistant Professor of Economics and Senior Research Scientist at the Data Science Research Center at Duke Kunshan University (DKU). She has an abiding passion for interdisciplinary collaborations, especially for cutting-edge research of both profound insights and practical impacts. Her current research interests are at the interplay of computational science and economics around the applications of Blockchain technology. She received Ph.D. in Economics at Ohio State University, supported by Presidential Fellowship and NSF dissertation grant. She graduated from Peking University with a B.A. in Economics and a B.S. in Math and Applied Math. She is currently supported by National Science Foundation in China for her research agenda entitled “Trust Mechanism Design on Blockchain: An Interdisciplinary Approach of Game Theory, Reinforcement Learning, and Human-AI Interactions.”
The poster introduces Prof. Luyao Zhang’s research-oriented interdisciplinary courses at the interplay of computational and economic science at Duke Kunshan University. In Confucius's Analects, the master said “gentlemen should not be utensils.” Let’s learn beyond boundaries!
research-oriented interdisciplinary courses at the interplay computational and economic science
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