On November 14-15, 2017, the Global Home Internet Conference (GFIC) took place in Shanghai, drawing over 500 companies and 3,000 professionals. Among the notable speakers was Professor Lu Tingjie, Vice Director of the China Institute of Information Economics at Beijing University of Posts and Telecommunications. His speech, titled “Platform Economy and Blockchain Revolution,†provided a deep dive into the transformative power of digital technologies.
Professor Lu addressed how emerging technologies are reshaping business models and what this means for the future of innovation. He emphasized that true internet thinking is rooted in the concept of OTT—Over-The-Top services—which disrupts traditional industries by leveraging the internet to bypass legacy systems.
He explained that while sharing economy concepts have gained traction, not all examples fit the definition. For instance, shared bikes are more accurately described as time-sharing leasing rather than a true sharing economy. The key difference lies in the use of the internet to streamline processes, such as eliminating the need for physical documents when renting a bike.
Lu also discussed the evolution of the internet, highlighting how platforms like Uber and Airbnb have redefined industries by using technology to create new marketplaces. These platforms operate on a model where the service provider is not directly managing the assets, but instead connecting users through an online interface. This shift has led to significant changes in traditional sectors, often causing friction with existing regulations.
The professor pointed out that the internet’s real power lies in its ability to separate network infrastructure from business operations. This separation allows for new business models, such as those seen in e-commerce and ride-sharing, where the platform acts as a mediator rather than a direct service provider.
He further explored the role of blockchain in the future of the internet, noting that it could serve as a foundational technology for the Internet of Things (IoT). By ensuring secure and tamper-proof data management, blockchain can address critical issues like authentication and information integrity.
In conclusion, Professor Lu stressed that the internet is not just about adding technology to existing systems, but about fundamentally rethinking how businesses operate. The rise of platform economies and OTT models represents a new era of innovation, one that is driven by the internet’s unique capabilities and will continue to shape the digital landscape for years to come.
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