GXChain is Leading to Explosion in Blockchain-based Trusted Computing Business

NEW YORK, NY / ACCESSWIRE / June 23, 2019 / The founder and CEO of GXChain, MQ Huang, has given a ringing endorsement to the concept of trusted computing, labeling it as a huge commercial opportunity which is set to explode. Huang made his comments in a speech titled, "Opportunities for the Development of Trusted Computing and Blockchain" on June 15 at the "A New Wave of Data Business -Trusted Computing Business Seminar." The seminar was hosted by GXChain and CompuTa and co-organized by the Hangzhou Association o Blockchain Technology and Application.



Huang is confident that trusted computing allows for the advocates the implementation of big data computing while also protecting the privacy of users, improving social efficiency and the economic value added of data. Industry experts anticipate that trusted computing will result in a much larger- than-expected expansion of the global digital economic market, with estimates for growth seeing an upward revision of its value from $23 trillion to $70 trillion over five years, adding nearly $47 trillion of market space.

Challenges in Big Data Application

Since 2010, big data has been widely used and has impacted positively on all aspects of peoples' lives. Big data technology has greatly improved social efficiency, but its applications eroded users' privacy.

Peoples' personal data is now strictly protected by new data management regulations in various countries, with the General Data Protection Regulation (GDPR) - the Personal Privacy Protection Act promulgated in Europe, being an example of individuals can now choose and restrict how their personal data is used. However, although these laws and regulations protect personal privacy, they will inevitably reduce social efficiency due to the constraints placed on the use of personal data.

There exists, therefore, a clear contradiction between improving social efficiency and protecting personal privacy, and trusted computing can act as a balancing agent that works to ensure data privacy in the age of large data computing.

Enhancing trusted computing via blockchains

Trusted computing advocates the protection of individuals' privacy while implementing big data computing to enhance social benefits and the economic value added of data. At the same time, the blockchain boasts open source code, decentralized nodes, non-tampering, open accounts, intelligent contracts and asset transparency, all of which work to promote users' confidence in the system's integrity.

MQ Huang believes that when trusted computing runs on the block chain, it will be greatly enhanced and capable of delivering benefits through the following three new characteristics: