New blockchain release
Zheng Xiaojun, chief economist of the world blockchain organization and President of the Caribbean blockchain Research Institute, introced the world blockchain organization at the tokensky blockchain conference in South Korea today. He mentioned that the Caribbean is the largest offshore area in the world, and a lot of international re export trade relies on the Caribbean for operation. However, 80% of the population in the region does not have bank accounts, and the financial infrastructure cannot be solved by traditional financial instruments. Therefore, the development and cooperation of blockchain in the world is very necessary
There is no doubt that blockchain has development prospects, and the necessary condition for development prospects is to enter the mainstream market
North America blockchain infrastructure the oan (former aion network) founder and CEO Matt spoke published an article entitled "in order to successfully enter the mainstream market, blockchain projects must" eat dog food "in Forbes on July 24, in which Matt mentioned his views on how blockchain should enter the mainstream market - & quot; Eat dog food
in the science and technology circle, there is a jargon called & quot; Eat dog food Dogfood (also known as eating your own dog food) refers to companies using their own procts and becoming users of their own procts. Many high growth companies (such as Microsoft, Facebook, Amazon, apple, Netflix and Google) also test their procts by "eating dog food" or help build credibility“ "Eat dog food" is often used to find and fix bugs, but it has another value: to create reliable use cases for the company's procts
this is worth learning from blockchain projects, because blockchain projects often hold & quot; Once built, they (users) will come naturally, which habitually leaves the responsibility of creating new and interesting blockchain applications to a third party
this attitude is very common, even the well-known blockchain summit consensus 2019 also held a conference entitled & quot; Once built, they (users) will naturally come: to build a global blockchain Center & quot; To discuss how governments around the world can make efforts to attract blockchain projects while balancing regulatory, investment and innovation needs
to be fair, this strategy may be effective for blockchains that only focus on people in the currency circle. For the security token, especially for the exchange represented by the transaction, it makes more sense - "supply creates demand" is the usual idea here, especially considering that the realization of these transactions requires the construction of complex infrastructure
in contrast, "eat dog food" is more likely to be adopted by blockchain project developers who seek mainstream audiences (such as those in financial instry, manufacturing and supply chain, identity management, etc.). If blockchain technology wants to enter these mainstream fields, blockchain companies must first "eat dog food". This can not only clearly prove that blockchain technology is feasible outside the coin circle, but also highlight that blockchain can not only optimize existing use cases, but also create new use cases
and the oan team has been adhering to this concept, and relying on the oan and aion's technology stack built over the years, it has developed a financial technology platform moves for independent workers
Matt said that in the development and development of moves, the team hopes that the relevant functions of the OAN blockchain network can be brought into full play, so it will focus on the following three aspects:
1. How to use the OAN blockchain network to improve the credit efficiency of the proct there are two main considerations to improve credit efficiency: 1) can we use the mechanism of the defi market to rece the cost of capital; 2) Can the blockchain technology be used to increase the external trust in the credit process of moves. Here, moves will form a mechanism of "pooling wisdom", so that everyone can contribute to recing credit risk and increasing the credibility of credit process, and may even develop a micro guarantee mechanism in the future. Therefore, users will be able to participate in the market established by the platform as borrowers, lenders or guarantors
specifically, by connecting moves with the oan network, and with the help of digital asset aion, a relationship of interest consistency is formed between procts and users, so that users can personally experience the success of moves procts and directly participate in the oan, a blockchain network supporting moves
3. How to create the first open system of financial reputation data with moves
this open system may become a substitute for traditional credit scores or related mechanisms. Over the years, banks and financial institutions have been using Equifax, Fico or other similar institutions' scores as risk indicators, and the moves team believes that the procts they are building will be a good start - the beginning of a more perfect and modern financial reputation system. This is a long-term goal
moves supports North American mainstream carpooling, take out and other casual work economic platforms, and will be the flagship open application developed by the oan on its blockchain network. In June, moves expanded its operations from Ontario to Alberta and British Columbia into western Canada
all the initiatives of the oan team adhere to the spirit of "eating dog food" and strive to make blockchain technology enter the mainstream market as soon as possible. Blockchain is not for the minority, but for the mainstream. In addition to the oan team, many projects and institutions in the blockchain instry are also aiming at this goal. Can you say that such an excellent and targeted blockchain has no development prospects
At the tokensky blockchain Conference on March 14-15, Zheng Xiaojun, director general of wbo, mentioned that the wbo licensing authority will issue three types of licenses: digital asset operation license (for ordinary digital asset companies), digital asset trading license (for digital currency exchanges, etc.) and ICO license (for ICO only projects, companies, etc.)
it is understood that the world blockchain organization is a non-governmental organization registered by the United Nations Economic and social affairs agency. Its purpose is to become a major international intergovernmental organization in the blockchain instry and provide another method and means to solve the financial problems between countries and regions by promoting the cooperation of the blockchain world
at present, wbo has more than 400 members and institutions, including nine offices including the licensing authority, to operate blockchain policy research, legislative promotion, standard formulation, evaluation and certification, conferences and exhibitions, training and ecation and other activities
the wbo with endorsement from international organizations will issue licenses related to digital cryptocurrency and blockchain, which may provide clearer guidance on supervision and practice at the national level, and bridge the cooperation between countries
as a financial technology leader, the United States discussed cryptocurrency, ICO and whether the existing regulatory framework is sufficient to protect investors at the recent congressional cryptocurrency regulatory hearing. Many of them agreed that the regulatory authorities should clarify the legal status of encrypted assets, and ensure that the relevant processes comply with the law while helping entrepreneurs to innovate
No matter what the result is, the measures taken by these important organizations and governments show that they will not sit back and watch the currency circle and chain circle go disorderly
it is worth noting that on March 11, the blockchain instry alliance of China Hi Tech Instrialization Research Association also announced that it has officially joined the ranks of wbo sponsors, and Zhu Tao, chairman of the alliance, is also the deputy director general of the world blockchain organization. With the issuance of internationally recognized licenses, will China's policies be relaxed
digital currency and virtual currency are actually different names. They are tokens issued based on blockchain technology. Behind them are a series of computer-generated complex codes. At present, there are thousands of digital currencies in the market. The safest and most powerful digital currency is bitcoin
digital currency is also a high-risk and high return investment proct, through appropriate investment strategies, you can get rich returns. If you have spare money, you might as well put some of it into the digital currency. There will be unexpected surprises.
however, Yuanbao coin, Ruitai coin, bitcoin and the tokens of different crowdfunding projects in Europe are excellent digital currencies.
if you dig by machine, you can dig to a very deep place. Some mines are 2000 meters underground
if it's drilling, the current deep drilling in the mainland can reach a depth of more than ten kilometers. The deeper the drilling depth is, the higher the requirements for technology and equipment are. Further down, it is not impossible to dig, but limited by technology and equipment.
in order to deal with the disadvantages of mining machinery arms race caused by bitcoin mining, many new generation digital currencies are no longer using bitcoin mining method, but focus on mining or purse mining, such as Ruitai coin, gold card and so on. Of course, there are some disadvantages.
issuing currency is only a means, not a target of blockchain platform
As the activity center of Asian blockchain trade, Singapore has become the third largest country of ICO projects in the world. Singapore's policy and attitude towards ICO: in the environment that many countries around the world have not yet made clear their supervision of blockchain and cryptocurrency, and the central bank has once again issued a voice that is still strictly prohibited, Singapore seems to be a hot spot for the development of blockchain. As the most digital currency friendly country in Asia and the third country in the world in ic0 financing, The Singapore government supports the blockchain technology behind the token and its development potential, but does not support it as a circulating currency or an investment asset at present
MAS in Singapore has been paying close attention to local financial technology including blockchain and token, and has continuously issued various regulatory measures and risk warnings to investors. At present, MAS has issued two new laws, which include both non security and security token into the regulatory framework. First, the regulatory framework will include the securities cryptocurrency trading platform into its regulatory framework to cater for the emergence of a new trading platform business model; The second is the "Payment Services Act", which will bring other non securities cryptocurrency trading platforms into its regulatory scope and require the platforms to take preventive measures against KYC, AML and CFT
ways of ICO project compliance:
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the advantages of the registered entity [Singapore foundation] are: (1) the foundation has no shares or shareholders, so it can't pay dividends. Therefore, the funds raised by the blockchain are managed by the foundation and will be used for the project completely, and will not be shared by members 2) The foundation has a tax exemption policy. As long as there is no cash or surplus at the end of the year, there is no need to pay tax. It's a zero tax return. Therefore, the Singapore foundation is the preferred entity to issue tokens for financing. It is also an organization with credibility in the world. The supporting legal documents issued by Singapore lawyers guarantee the non securities nature of the token issued by the project, and file the project with the government in the name of lawyers
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legal compliance: the supporting legal documents issued by Singapore lawyers guarantee the non securities nature of the token issued by the project (audit white paper), and file the project with the government in the name of lawyers. 3. Operation and audit implementation of the foundation
sto is a security token. How did it come into being out of thin air? Looking at the situation of ICO this year, the emergence of STO is by no means accidental. Compared with ICO decentralization, it only needs to finance through virtual currency, with low threshold and high risk. Sto is issued under legal and compliance supervision, and is mortgaged by offline tangible assets. The increase of investment threshold also greatly reces the risk, so sto securities token issue has become the object of everyone's pursuit. How to launch sto project
1. First of all, prepare a complete set of project release plan, including white paper revision, project carding and scheme design, which is equivalent to the preliminary preparation of the project
2. Second, architecture. What do you mean? Just like the previous ICO, sto also needs to be registered as an overseas entity company. At present, we know that sto is mainly distributed in the United States, Singapore and European countries
3. Legal compliance is required after the principal company is registered. For example, the principal company registered in the United States or Singapore must find the corresponding law firm to provide relevant legal compliance documents
4. The token can be released when all the above are ready.