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Northumbria academic Professor Yu Xiong has led an international forum
exploring how innovations in Blockchain technology can foster links between UK
and the Chinese businesses, and new opportunities for collaboration.

The China UK Blockchain
Application Forum was held at the historic Magna Carta Island
near Windsor, widely regarded as the site where King John signed the Magna
Carta more than 800 years ago. It was attended by Innovation UK, cross-party
parliamentary innovation groups and world-leading academics in Blockchain
technology from universities, including UCL, London School of Economics, Durham
and Northumbria.

Blockchain is an emerging technology that is
revolutionising the financial industry by changing the way transactions are made
and recorded. By allowing digital information to be distributed but not copied,
blockchain has created the backbone of a new type of internet and a
peer-to-peer network built on the thee pillars of decentralisation,
transparency and immutability – unchanging through time.

Professor Xiong, Chair of Technology and
Operations Management at Newcastle Business School, said: “Blockchain is fundamentally changing the
trust mechanism, and therefore the behavior, displayed in financial
transactions; put simply it has the potential to reshape how we do things. Its
applications also stretch far beyond just economic considerations, which will
inevitably have wider impact and benefits on society. This presents
significant opportunities, which is why bringing high profile Chinese and UK
delegates together in this seminar is so significant. We were able to explore
how Blockchain technology can help facilitate greater collaboration between
businesses and organisations from both nations – something which should
resonate with continuing Brexit uncertainties.

“I was also delighted to Chair the event from the historic and famous
Magna Carta Island – the first time an innovation-inspired seminar has been
held here. The UK has a rich history, as well as a high capability for
innovation, which is why it was so symbolic to hold the forum here. China is
also the world’s second largest economy and is seen by the UK Government as a
natural innovation partner.”

Delegates to the seminar included Mr. Yuanfeng Chen, Chair of Magna
Carta Island International Innovation Centre, Professor Jiang Duan, Director of
Blockchain Research Centre of China, Mr. Guoyu Du, Co-founder of UKDE, Dr
Jean-Francois Fava-Verde, Innovation Lead-Digital from Innovate UK, Professor Julian
Williams, Co-Director in the Institute of Hazard and University of Durham, Dr.
Garrick Hileman, Head of Blockchain Research from LSE. Also attending were
Professor Birgitte Andersen, CEO of Big Innovation Centre, Mr Rob Fletcher, Geospatial
Platforms and Solutions Manager, Satellite Application Catapult, Professor Paolo
Tasca, CEO and founder of UCL CBT, Dr. Junyi Han, Han Senior Solution Architect
from Minder Technology and 99P Recycling, Dr. Yunming Shao, Vice President and Investment
Director, Tus Holding UK, and
Dr. Tao Xu, Managing Director of Yitu Tech EU.

For more
information on the China UK Blockchain Application Forum, or the Magna Carta
Innovation Forum series please contact


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