Development status of blockchain in China

3. It can be said that 2016 is the first year of the development of China's blockchain. Since 2016, the government has focused on and supported the development of blockchain technology and instry in various forms
especially in the 13th five year plan for national informatization released in December 2016, it is clearly proposed that the innovation, test and application of new technologies such as blockchain should be strengthened to seize the leading power of new generation information technology
in January 2017, the block chain based digital bill trading platform promoted by the central bank was successfully tested.

4. Since blockchain will become the future development trend, blockchain technology has its own advantages over traditional technology
1. Decentralization
the core advantage of blockchain technology is that it does not need a traditional centralized organization, and does not rely on the point-to-point transaction, coordination and cooperation of a credit center in the distributed system, so as to avoid the common problems of data security, collaborative efficiency and risk control of centralized organizations
2. High security
in blockchain technology, data is difficult to tamper with. Anyone can access the database that records transactions. In this transparent and open mode, everyone can act as a supervisor. We can see at a glance what changes have taken place in the data, which is more secure than traditional technology
3. More reliable
the blockchain technology is connected by multiple nodes in different places. The nodes in the blockchain interact through the point-to-point communication protocol. Under the condition of ensuring the consistency of the communication protocol, different nodes can be processed by different developers using different programming languages and different versions of the whole node
in short, when a node encounters network problems, hardware failures, software errors or is controlled by hackers, the operation of other participating nodes and systems will not be affected
therefore, blockchain is more reliable than traditional technology
therefore, I firmly believe that the application of blockchain must be the development trend in the future.

5. Theoretically, the block reward that can be generated every day is zd12.5 (number of rewards per block) * 6 * 24 (6 blocks per hour, 24 hours per day) = 1800btc. bitcoin network gives out one block every 10 minutes on average, and the reward for each block is currently 12.5. At the earliest time, 50 BTCs were awarded to each block within the block. After 210000 blocks were g out, the number of BTCs was halved, about once every four years. It is expected that the next halving will be in May this year, when the reward for each block will become 6.25. There is a special exchange for buying bitcoin. It is suggested to go to okex exchange in China. The security is great.

6. Preface to the interpretation of Finance
(2014-10-13 08:05:31)
label:
miscellany

Finance is the promoter of human civilization
if there is no division of labor, human beings may still be wandering in the age of slash and burn cultivation. Therefore, the first part of Adam Smith's great book, an inquiry into the nature and causes of the wealth of nations, is about the principle of division of labor. He fully affirms the contribution of division of labor to the improvement of labor proctivity
however, without the emergence of money, division of labor is impossible. Because division of labor means the inevitability of exchange, and if the success of exchange is not mediated by money, but by direct barter exchange, then the success of exchange can only depend on luck. Money makes the exchange smooth and smooth, so the division of labor can be expanded, and the proction efficiency and technological invention can be accelerated
many things are so common that they don't feel important. Such as air, water and sunshine, as well as the love of relatives, are often ignored, but they are of great importance. The function of money as a unit of valuation is just like this. If it is not priced in currency, the "price" of each commodity will be expressed by the exchange ratio with each other. With the increase of the number of commodities, the price will be innumerable and the transaction can not be concluded. Money makes each commodity have only one price, so the exchange is much easier
another example is insurance. If there is no insurance, sudden changes of indivials and families, whether natural or man-made, may cause the tragedy of family destruction. However, with insurance, allowing a large group of people to share the losses of indivials and families can, to a considerable extent, alleviate the pain of tragedy and rece social shocks, so that society can move forward as usual. Insurance is a moral thing, isn't it
for example, the initial function of futures market is to stabilize the cost of procers. Without the futures market to lock in the cost of proction, proction can only be intermittent, and social life will not be stable. With the futures market, procers can focus on the proction itself and disperse the risk of cost changes to the financial market. Isn't that serving the people
everyone knows the importance of the University. For hundreds of years, the university has been the main inheritor of human civilization, as well as the main source of new knowledge, new technology and new civilization. However, just as religious places need donations to survive, the University also needs a steady stream of huge financial support
the first-class universities in the United States, including Harvard University, Yale University and MIT, all have foundations, have considerable financial assets and employ financial experts to take care of them. Without high salary, masters and famous professors, how can they condescend to preach and teach in these private universities? It's the old yellow calendar. Without capital investment, how can a magnificent building and so many excellent students enjoy the best higher ecation in the world? Keynes, the great economist, used to work for the Cambridge foundation
many people always think that only hard-working and hard-working can be valuable. Such as farming, such as working, such as manufacturing, in short, it is a real thing. Finance, a virtual instry, does not create value. This is a serious misunderstanding
I often say that hard work, sometimes to avoid more hard mental work, is a kind of real laziness. There is no real instry in the world. Even farming requires seeds, pesticides, chemical fertilizers, farming techniques, and soil improvement. All of these can not be achieved by "sweating down the soil", but by science
it's very easy to simply make one thing. China is now the center of global manufacturing. But what to make and how to make it? But not the manufacturer has the final say. Apple mobile phones (iPhones), though mostly made in China, are just assembly. Its R & D and design are not in China, and the main profits are not in China. This is because the manufacturing is too simple. The assembly line workers just repeat a few actions. We will, and others will, such as Mexicans, Vietnamese and Brazilians, but R & D is something that a few talents can do. Apple's mobile phone is a gifted and epoch-making proct
it is impossible to create a new world only by exerting great efforts, sweating and repetitive manual operation. All the labor that can create a new world is the work of scientists who seem very relaxed on the surface. And behind science is investment. For example, research on new procts and new technologies costs a lot of money. Who dares to spend money on something that sounds unreliable and unlikely to succeed, such as Steve Jobs' iPhone idea? Just like the real people, how can they be willing to invest in these strange ideas. But some people dare. These are venture capitalists
Silicon Valley in the United States has bred many world-class high-tech enterprises, such as apple, Intel, HP, Facebook, Google, Oracle, Cisco, etc. with them, today's human life style is very different. But behind these leading enterprises, there is the support of venture capital
Keynes has demonstrated this point incisively for a long time. He said that economic prosperity is not determined by proction (supply), but by demand, and the key to demand is investment demand. Without banks and financial markets, investment would be greatly inhibited. In fact, the prosperity of social undertakings, such as the film instry, is not so? Hollywood blockbuster is popular, but it's made of money
Finance is a kind of system
no matter in the past coinage, or later paper money and electronic money, they are not "real things". They have little value in themselves, but they can leverage and replace those "real things" that are much bigger than themselves. It's because money is trustworthy. The foundation of trust is the power of system
exchange comes from people's inner needs, and the essence of money is only a means of transition, a lubricant, and an idea. Therefore, it is not necessary to use real things. Therefore, the government, with its coercive force, stipulates that people must accept it. Therefore, paper money is a kind of institutional arrangement
the bank is also a system. Modern commercial banks, not only deposit and loan institutions, but also create new and large amounts of money under the guidance of the central bank through the partial reserve system. Money in an economy is not mainly printed, but proced out of thin air. On the surface, it's a trick, but it's a real trick to improve people's welfare. Because the financial society tells you, sometimes just a little more money, your life will really be better, magic bar
most people have deposits, but others have loans, such as mortgage loans. People who go to the bank for loans are wise. Even your best friend, brother and sister, is willing to lend you hundreds of thousands of yuan to repay in decades? I'm afraid I can't, because borrowing money has turned many friends and relatives into enemies. But the bank is willing to lend you, let you pay back slowly! Mortgage is a system of mutual encouragement and restriction
the original meaning of finance is the flow of funds. Since the emergence of money as the main form of wealth, there have been surpluses (potential suppliers) and deficits (potential demanders). Rich people are not necessarily good at making money, but those who are good at finding opportunities for making money are not necessarily rich. Without banks, the demanders and suppliers of funds would never know each other in their lifetime even if they were looking for each other blindly. Generation after generation of life and desire, in the waiting disappeared
the bank is the organization to realize the dream and the magic wand of the fairy. With banks, lenders and borrowers will no longer have to go around and find banks. The bank promotes the communication between the surplus and the deficit, and realizes the "finance". How many people are successful in their career, from nobody to wealth and celebrity, because of this magic wand
interest rate is also a system. The demanders and suppliers of funds exchange cash flow between the present and the future. How to balance the supply and demand or make both sides achieve their wishes? It depends on interest. The function of interest is to suppress demand and encourage supply. When the interest rate rises, the demand will fall and the supply will rise; If the interest rate falls, the demand will increase and the supply will decrease. Therefore, there must be an interest rate that both parties are satisfied with, that is, the equilibrium interest rate, so as to balance the lending relationship
the stock market is also a kind of institutional arrangement, and investors' investment funds cannot be refunded. How can this be accepted? Investors can participate in the general meeting of shareholders, receive dividends and dividends, and transfer shares in the secondary market. Listed companies must disclose information on time. By these, in exchange for long-term financial support from shareholders, then listed companies can do business with long-term plans
how important is the financial system!

7.

In 2014, Barry Silbert, founder of secondmarket, separated the bitcoin investment fund from the original company and established grayscale investments

in 2015, gray investment company was merged into the newly established digital currency group (DCG). DCG is not only focused on digital currency and blockchain investment, but also an incubator for start-ups. In addition to gray investment company, DCG also has two subsidiaries, namely, genesis, a cryptocurrency OTC broker, coindesk, a blockchain news and information website, and more than 150 other blockchain companies / projects invested

after years of development, gray investment company has become the largest cryptocurrency asset management company in the world, and its cryptocurrency trust scale has reached US $2.58 billion

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extended information:

in 2013, Barry Silbert, the founder, convinced the board of directors of secondmarket company to set up a bitcoin investment fund called bitcoin investment trust, which is the predecessor of gray scale bitcoin trust. It was not until September 2017 that gray investment's bitcoin trust fund began to grow explosively

it has become the largest bitcoin investment trust in the world, with more than 408500 bitcoins, nearly 2% of the total. In addition to bitcoin trust funds, gray investment company also launched BCH, ETH, etc, horizon, LTC, XLM, XRP and Zec trust funds, as well as grayscale digital large capital fund with mainstream currencies. Gray investment company's cryptocurrency trust procts provide convenience for institutional users to purchase cryptocurrency