International environment of blockchain
in the Internet era, there is a database behind every system. This database can be regarded as a large account book. In the past, the person who maintained the system was responsible for managing the database and recording the user's behavior, that is, bookkeeping. However, the blockchain is "decentralized", which allows every member of the system to participate in it, not only everyone bookkeeping, but also through links, Everyone can have a complete account book
"blockchain is essentially a collective recording mode. What's special is that it adopts a set of techniques in an ingenious way to realize the authenticity and credibility of the recorded results, which is difficult to destroy and tamper with. " Zhang Xiaorong said, "first, everyone has the right to record and authenticate with each other to distinguish the true from the false, which is called consensus mechanism; Second, no one can tamper with the records, because there are cryptographic signatures; Third, everyone has a , so even if some account books are damaged, the whole will not be affected. This is called distributed storage. The information recorded in this way is presented in block mode according to the time chain, so it is called blockchain. "
various cryptocurrencies represented by bitcoin are originally an application of blockchain technology, which can be described as blockchain version 1.0. However, around 2014, the instry began to realize the important value of blockchain technology. Blockchain graally separated from digital currency and applied to various economic and social fields other than digital currency
it has broad application prospects
blockchain technology is considered as a disruptive innovation after steam engine, electric power and Internet. If the steam engine and electricity liberate the proctivity, and the Internet has changed the way of information transmission, the blockchain, as a machine for building trust, may change the way of value transmission
for example, in the financial field, the cost of reconciliation, clearing and settlement between financial institutions, especially cross-border financial institutions, has always been very high, and there are complex manual processes. The application of blockchain technology can help rece the cost of reconciliation and dispute resolution between financial institutions, and significantly improve the processing speed and efficiency of payment business, It also makes small cross-border payments possible. In December 2017, China Merchants Bank completed the RMB position transfer business from Hongkong Wing Lung Bank to Shenzhen Branch of Wing Lung Bank. This is the world's first interbank cross-border RMB clearing business based on blockchain technology
in addition, according to the white paper 2016 on China's blockchain technology and application development issued by the Ministry of instry and information technology of China, the application of blockchain has been extended to medical and health, ecation, charity, social management and other fields. Taking the cultural instry as an example, the low cost of reproction, the high cost of safeguarding rights, and the difficulty of providing evidence make the protection of intellectual property rights a pain point for the instry. With blockchain, the proction, dissemination and transaction records of cultural procts are true, transparent and reliable, and the problem can be solved
Zhang Xiaorong said that blockchain technology has solved two major problems in the era of Digital Economy: one is the visible flow direction, and the other is zero trust cost. In the past, the circulation of physical paper money was invisible, but the flow of all digital assets had a "chain" to check. Yang Yanchao, a researcher at the intellectual property center of the Chinese Academy of Social Sciences, also believes that the biggest advantage of blockchain is that it has truly completed the credit construction in an anonymous society, bringing new opportunities to many fields, thus making various innovative applications possible
there is a long way to go in the future development
in terms of technology promotion, there is no big barrier to blockchain, which has been confirmed in the global practice of bitcoin, and its main resistance comes from the obstacles in concept and implementation
"on the one hand, the society may be very concerned about the" naked "state in the blockchain. Blockchain has built a "Skynet" for the commercial society. The company's economic activities are all recorded, so there is no secret to speak of. In this way, some business strategies may not be implemented under the blockchain. "
"on the other hand, the current legal system lags behind the development of information technology, so how to put the emerging blockchain technology under the legal supervision needs to be studied." Duan Yongchao said
the core of blockchain is decentralization, which will have an impact on the long-standing central management model. In addition to the law, how to establish a regulatory environment that can promote the application of blockchain technology, so that the technology can benefit the society and not be used to do evil, is also an urgent problem to be solved.
Five aspects of blockchain instry growth potential promote the healthy development of Technology Virtual reality and other technologies are another emerging technology that will have a significant impact on the future, which is expected to promote human beings from the era of information internet to the era of value Internet
some countries and regions in the United States, Japan and the European Union have promoted the development of blockchain as an important national development strategy, and vigorously promoted the development and application of blockchain technology. China also attaches great importance to the technological innovation and instrial development of blockchain. With the joint participation of it and other enterprises, a large number of new enterprises, new procts, new models and new applications have emerged. The application of blockchain in the fields of finance, government affairs, energy, medical and other instries has graally expanded, and is becoming an important force to drive the technological proct innovation and instrial transformation of various instries
the development of blockchain can be divided into three stages, namely, blockchain 1.0, represented by bitcoin and related financial infrastructure applications, and blockchain 2.0, represented by smart contract. At present, it is graally moving towards blockchain 3.0, which is based on blockchain technology and more complex in-depth application of smart contract
statistical analysis of blockchain investment and financing in the first half of the year. According to the statistical data of in depth analysis report on business model innovation and investment opportunities of blockchain instry published by foresight Instry Research Institute, in the first half of 2018, the amount of financing in the blockchain field was about 10.7 billion, with a year-on-year growth rate of 1426% compared with the same period in 2017; The number of investment and financing events in the field of blockchain has reached 205, and it is expected that the investment in the field of blockchain will usher in another peak this year
according to the distribution of investment and financing rounds in China's blockchain field, the proportion of investment rounds in the start-up period (before round b) is more than 95%, with the joint investment of many instry pioneers, and most enterprises are still running around
statistics and growth of blockchain investment and financing in the first half of 2014-2018
data source: China attaches great importance to the development and application of blockchain technology. Driven by multiple forces such as policy, technology and market, the pace of blockchain innovation has been accelerating. It has been deeply integrated with cloud computing, big data, Internet of things and other technologies. The scope of exploration and application has also expanded from digital assets to supply chain management, intelligent manufacturing, instrial Internet, social welfare, right protection and other fields
five aspects to promote the healthy development of blockchain technology, promote the high-quality development of digital economy
1, in-depth study and grasp the development trend of blockchain technology and instry. Pay close attention to the international development frontier, jointly promote the research of blockchain related technology and instry, promote the standardization of blockchain development instry behavior, and create a good development environment
2. Strengthen the construction of core technology capacity of blockchain
establish and improve the collaborative promotion mechanism among backbone enterprises, universities and research institutions, guide it enterprises to strengthen technical reserves, accelerate the breakthrough of key core technologies, and improve the performance, efficiency and security of blockchain
3. Support entrepreneurship and innovation in the field of blockchain
encourage cross-border integration between blockchain enterprises and user units, guide instry organizations to establish public service platforms, support third-party organizations to carry out evaluation and detection of blockchain services, promote rich instrial applications of blockchain, and serve the transformation and upgrading of the real economy
4. Actively build and improve the blockchain standard system
accelerate the development and application of key standards, and graally build a perfect standard system. Actively connect with ITU, ISO and other international standards organizations, substantially participate in more international standardization work, and actively contribute more "Chinese power"
5. Accelerate the improvement of the policy environment for blockchain development
support qualified enterprises to carry out application innovation and mode innovation, and guide and encourage enterprises, universities and scientific research institutes to jointly cultivate professional talents needed for blockchain development. Support eligible blockchain enterprises to enjoy the preferential tax policies of the state to support the development of software instry and small and medium-sized enterprises
the instrial scale is small, but the growth potential is huge
the blockchain economy is on the eve of the outbreak period. The financial instry is relatively widely used, and the application of other instries has also entered the stage of exploration and development. It is estimated that from 2017 to 2022, the direct market value of blockchain will increase from US $410 million to US $7.68 billion, with a compound annual growth rate of 79.6%. It is estimated that all kinds of extended business based on blockchain will reach US $100 billion in 2020
instry application areas continue to expand
the financial instry takes the lead in the application of blockchain technology, and many financial applications have been implemented; Medical instry is an important area of blockchain application, which can better protect privacy, improve service quality and management efficiency; The demand of social authentication for blockchain is rising rapidly to solve the proof problem caused by information asymmetry; The application of blockchain technology in communication, supply chain and other fields is expanding rapidly
driven by policy and market, China's blockchain related instries are expected to move from virtual to real
in the context of rapid development of blockchain, China should comply with the needs of globalization, keep up with the international pace, and actively promote the research, standardization and instrialization development of domestic blockchain related fields. Compared with the increasingly stringent supervision of bitcoin and other digital currencies, the support and encouragement of blockchain technology has reached a consensus in the world, and the domestic blockchain technology will also receive national and local policy support in the next few years. Driven by policy and market, blockchain related instries are expected to move from virtual to real, and blockchain technology will accelerate the exploration of possible application scenarios< According to the data of the "in depth analysis report on business model innovation and investment opportunities of blockchain instry" released by foresight Instry Research Institute, the global blockchain market scale is expected to increase from US $411.5 million in 2017 to US $7683.7 million in 2022, with a compound annual growth rate of 79.6%. In view of the wide application range of distributed ledger, the rising market value of cryptocurrency, the strong demand for improving transparency, security, efficiency and simplifying process, and the popularity of blockchain as a service (
baas), the blockchain market will expand rapidly. In addition, communication services, international trade, supply chain management, programming platform, payment, smart contract, digital authentication and so on are also in urgent need of blockchain technology, which will create a lot of growth opportunities
as an integrated application of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other technologies, blockchain has become a research hotspot of the United Nations, the International Monetary Fund and other international organizations as well as many national governments in recent years, and the instry has also increased investment. At present, the application of blockchain has extended to the Internet of things, intelligent manufacturing, supply chain management, digital asset trading and other fields, which will bring new opportunities for the development of cloud computing, big data, mobile Internet and other new generation information technology, and have the ability to trigger a new round of technological innovation and instrial change
by 2022, the payment sector may occupy the largest share of the blockchain market
relying on blockchain technology, real-time payment of assets can be realized, which not only has the characteristics of tamper proof and digital authentication, but also can greatly save the cost of settlement for financial institutions and banks. In addition, blockchain makes payment automation possible, eliminates the need for middlemen, and saves labor costs and time for buyers and sellers. Thanks to the above advantages, it is expected that the payment sector will be the heaviest one in the whole blockchain market
the fastest growing region will be the Asia Pacific region.
blockchain service providers in the Asia Pacific region are good at designing and developing cryptocurrency platforms with friendly interface, cost saving and high speed, and extending the application of blockchain in many instries. Both large enterprises and small and medium-sized enterprises are actively seeking risk financing, investing in and developing the most cutting-edge blockchain technology. In addition, the real estate instry of some countries in the Asia Pacific region is expected to rapidly transform from translucency to full transparency, which also helps to enhance the development prospects of blockchain in the Asia Pacific region.
the blockchain instry is in the stage of rapid development
China's blockchain instry is in the stage of rapid development. According to the data of the "in-depth analysis report on business model innovation and investment opportunities of blockchain instry" released by foresight Instry Research Institute, by the end of March 2018, the number of blockchain companies with blockchain business as the main business in China has reached 456, from upstream hardware manufacturing, platform services, security services to downstream instrial technology application services, To ensure the development of the instry investment and financing, media, talent services, companies in various fields have been basically complete
according to the classification of application scenarios of top 20 enterprises in the ranking list, in addition to 13 enterprises focusing on the infrastructure and platform construction of blockchain such as underlying platform and blockchain hardware, the application scenarios of blockchain have graally enriched. According to the distribution of instry segments, there are 7 instry application companies, mainly Internet companies (Alibaba, Jingdong, Tencent) used in public welfare and commodity traceability, and innovative financial technology applications evolved by financial enterprises (Ping An, CMB, BOC), such as supply chain finance, bills and transaction clearing
as the blockchain can realize the non tampering of information, the possibility of data falsification is eliminated from the root, especially in the financial instry, which has high requirements for real data, it will embrace the blockchain more actively
analysis on the development trend of blockchain
Second, blockchain has become a new hot spot for innovation and entrepreneurship, and technology integration will expand new application space
3. Blockchain will be widely implemented in the real economy in the next three years and become an important support for the construction of Digital China
fourthly, blockchain creates a new platform economy and opens a new era of sharing economy
fifthly, blockchain accelerates the process of "credible digitization" and drives finance to "move from virtual to real" to serve the real economy< Sixth, the blockchain supervision and standard system will be further improved, and the instrial development foundation will continue to be consolidated
in addition, as an emerging technology, there are still many technical difficulties in the application of blockchain in the actual proction environment of the financial instry, such as throughput, scalability, consensus mechanism, privacy and security, manageability, etc
technological innovation such as blockchain is of great significance to the financial instry, which is expected to accelerate the process of "credible digitization" and continuously drive the financial instry to "move from virtual to real".
Since 2017, the concept of blockchain, which has been popular all over the society and the world, is still heating up, attracting people and social funds; Boost bitcoin, as well as similar network "encrypted digital currency" (such as ether coin, Wright coin, etc.) price rise, created a lot of "overnight rich" myth. The argument that digital currency and blockchain will subvert tradition and profoundly change the world is constantly rising. The start-up and development of blockchain seems to be coming like a roaring sea, but it is more and more concentrated in coin making and speculation, and more and more trapped in the thinking and paradigm of "bitcoin blockchain" of mining and coin making
in the case that bitcoin must be exchanged with fiat money and must join the network trading platform and other auxiliary links in order to play a greater function, the characteristics of bitcoin blockchain such as area center and disintermediation may have serious problems. In the real world, if the transfer of monetary assets is operated through the bitcoin blockchain system, it will actually increase the intermediary link rather than disintermediation. Moreover, because the bitcoin system is highly anonymous and deliberately evades supervision, it is difficult to fully meet the requirements of anti money laundering and anti-terrorism transportation. On the contrary, many new serious problems may arise, Many arguments about bitcoin and blockchain are difficult to hold
those unseen pain points
the so-called labels of bitcoin blockchain, such as "decentralization", "democracy, equality and freedom", can not stand scrutiny; The truth is that if it puts too much emphasis on "decentralization", it will affect efficiency; Bitcoin has not yet become a real currency; The ICO type fund-raising method is not concive to the development of blockchain... But when people enthusiastically pursue blockchain like faith, they can not see these "pain points":
first, bitcoin blockchain is difficult to build a decentralized, democratic and equal society
bitcoin blockchain system envisages the establishment of an equal and democratic world for all participants, but in fact, the core team of coding maintenance and the main forces involved in mining and operation are not so equal and democratic. Due to the influence of computer computing power, the mining and acquisition of bitcoin are not equal as advertised. As a result of competition, the opportunities of mining and acquiring bitcoin are more and more concentrated on a small number of mining pools or nodes with powerful computing power. However, more and more people are involved in mining, consuming resources, but they may not be able to obtain bitcoin. This makes bitcoin more occupied by a few people, and will enhance its voice or influence on the adjustment of network rules
secondly, there are strict conditions for bitcoin blockchain to "de trust" and "de mediate" point-to-point transactions
as a payment method for goods or services
buy bitcoin on a bitcoin exchange
exchange bitcoin with people near you
earn bitcoin through competitive mining
participate in the platform and get a gift from the platform.
(2014-10-13 08:05:31)
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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!