The best of tech from China and the U.S. are in Shanghai for an annual summit showcasing the latest in the field. The China-America Innovation Network (CHAIN) promotes cutting-edge tech and resource-sharing. The focus this year is artificial intelligence (A.I.) and blockchain technology.

CGTN’s Xu Mengqi reports.

The two-day forum is co-hosted by the Shanghai Lingang Group. This year’s focus on A.I. may be familiar, but there’s also another buzzing technology thrown in the mix: blockchain.

“I think what’s really important about this technology, the blockchain, is not to think of it as any old technology, that is a singular individual action technology like an application, but it’s a common social technology,” Michael Casey of MIT’s Digital Currency Initiative explained.

In other words, it’s a technology that’s inherently global and challenges the existing nation-state and corporate structures.

The technology sector has become a key source of tension fueling the recent trade dispute between China and the U.S. Amid the tit-for-tat tariff exchange, tech companies have become pawns of the ongoing trade spat.

On July 6th, the first set of tariffs targeting $34 billion-worth of imports went into effect for both sides. China has targeted mostly American agricultural products, whereas the U.S. says it is focusing on China’s industrial sectors. While the U.S. was initially banning Chinese telecom company ZTE from buying American chips, U.S. computer chip producer Micron was also ordered to halt sales in China.

Last month, ZTE was finally allowed to resume business after paying a fine of more than $1.4 billion. For some tech experts in China, this is a reminder of where they still fall behind.

“Whether it’s iFlytek, or Sensetime, in facial recognition, we have done fairly well in China. We’ve had success in terms of algorithms, but still lag behind the U.S. in hardware, particularly in semiconductors,” explained Zhang Wenqiang of Fudan University’s Institute of Intelligent Robotics.

However, not everyone agrees with that narrative of competition.

“We are a community with a shared future, we are all contributing to humankind,” said Wang Feiyue of the State Key Laboratory for Management and Control of Complex Systems. “The focus should be on improving yourself. Don’t think about competing with others all the time.”&nbs

What is ‘blockchain’ technology? Elizabeth Hunker explains

CGTN’s Elaine Reyes spoke to Elizabeth Hunker to learn more about artificial intellgence (A.I.) and blockchain technologies, and where they intersect. Hunker describes herself as an Early Blockchain adopter, investor, and advisor.