Can alpha virtual currency be invested
virtual currency is a currency that can buy goods and services in a specific community in a virtual space. It has the monetary function of medium of exchange and unit of account
virtual currency can be roughly divided into three categories
the first category
has nothing to do with real currency, and can only be used in a closed virtual environment, usually online games, such as world of Warcraft
the second type of one-way exchange can only be used in a virtual environment, and sometimes physical goods and services can be purchased, such as frequent flyer award program, microsoft points, Nintendo points, Facebook credits and Amazon coin
the third type of two-way exchange, which has a buying price and a selling price, is the same as "real" currency, including those issued by issuers, such as second life Linden coin, two-way exchangeable game currency, etc., as well as decentralized cryptocurrencies, such as bitcoin, Leyte coin, Ethereum, etc; Virtual currency & quot; But cryptocurrency is only one of the subcategories of virtual currency.
Background: the financial application of blockchain technology brings high investment value
2018 China international big data instry Expo opened in Guiyang City, Guizhou Province on the 26th. At the meeting, it was pointed out that China will vigorously develop the digital economy in the future, deeply implement the action plan for the development of big data and cloud computing, and deeply study blockchain technology and application. Especially in the field of finance, the landing application has become the focus of the scientific and financial circles
1. The value source of blockchain is that it can perfectly solve the pain points of the current financial instry:
in today's asset securitization, insurance, supply chain finance, commodity trading, asset custody and other financial scenarios, e to many participants, high cost of credit evaluation, low settlement efficiency of intermediary institutions and other reasons, Traditional financial service methods are difficult to effectively solve the long-standing core pain points in the instry, such as information asymmetry, complex and rendant processes, and high information verification cost
2. Why can blockchain solve the above pain points:
blockchain technology integrates many basic technologies, such as distributed accounting, tamper proof, built-in contract, etc., and constructs a trust building mechanism with lower cost. The financial application based on blockchain technology can realize the ability of all market participants to obtain all transaction information and asset ownership records in the market without discrimination, and effectively solve the problem of information asymmetry; Smart contract embedding reces the error rate of payment and settlement, simplifies the process and improves efficiency; At the same time, based on transparent information and brand-new trust mechanism, there is no need to spend manpower, material resources and financial resources to confirm information among participants, which will greatly rece the trust cost between institutions, and then rece the price of financial services and transaction costs
3. The application of blockchain technology in the financial field mainly includes the following aspects:
among which bitcoin is the most famous. On the basis of bitcoin, a large number of other types of decentralized digital currencies have been derived. Such as: the heyday of bits
Compared with the traditional payment system, blockchain payment can directly carry out end-to-end payment for both parties without the help of the banking system, which can greatly improve the speed and rece the cost③ digital bills
④ bank credit management: the advantage of blockchain is that it can rely on program algorithm to automatically record credit related information and store it on every computer in the blockchain network, with transparent information, tamper proof and low cost
The major financial institutions and exchanges in Europe and the United States have explored the application research of building the next generation of financial asset trading platform based on blockchain technology4. The development prospect of blockchain. The future development of blockchain technology will have the most vitality with alliance chain as the entry point, and will have a significant effect and far-reaching impact on the transformation of traditional financial instry pain points
in response to the good investment prospects of blockchain, domestic enterprises such as Alibaba, Jingdong and Netcom have entered the market. The application of financial scenarios based on blockchain technology not only brings us security and convenience, but also provides us with broader investment space. The rise and price surge of digital currency represented by bitcoin (bitcoin was about RMB 20 cents when it was first listed in 2009, and its current price is about US $7300!) It's the best proof that people with a keen sense of smell have made a lot of money from it
Abstract: This is an encrypted digital currency based on the bitcoin developed by Nakamoto Tsung, which improves and adds many new functions, such as the double-layer reward system network, also known as the main node network. It also includes anonymous payment to improve the interchangeability (bitage) and real-time payment function docking to realize real-time transaction confirmation without relying on the authority of the center (P2P mall) In 2009, Nakamoto put forward the concept of bitcoin. Since then, bitcoin has spread rapidly in mainstream applications and commercial uses, becoming the first digital currency to attract a large number of users, which is a milestone in the history of digital currency. However, from the perspective of completing the transaction, we can find an important problem, that is, it takes too long for bitcoin block to confirm the transaction. Traditional payment companies have found a solution to enable the buyer and the seller to realize zero confirmation of bitcoin transaction, but this solution usually requires a trusted third party to complete the transaction outside the agreementbitcoin provides pseudonym transaction, realizes the one-to-one transaction relationship between sender and receiver, and can always record the transactions occurred in the whole network. Bitcoin only provides low-level privacy protection, which is well known in academia. Despite this deficiency, many people still believe in the transfer history recorded by blockchain
based on Nakamoto's achievements, bitshengshi is an encrypted digital currency with the purpose of protecting privacy. We have made a series of improvements on the basis of the concept of bitcoin, resulting in a decentralized cryptocurrency with good anonymity. It supports tamper proof real-time transactions, and has a point-to-point sub network that can provide service reward system for bitsheng network
2. Master node network
the whole node is the server running on the P2P network, so that small nodes can use them to accept the dynamic changes from the whole network. These all nodes need significant traffic and other resources that consume a lot of cost. Therefore, it will be observed that the number of these nodes on the bitcoin network presents a steady downward trend over a period of time, so that the block broadcast time needs an additional 40 seconds. In order to solve this problem, many solutions have been put forward, such as the introction of Microsoft Research's new incentive plan and bitnodes incentive plan
Figure 6: Mining reward model
game B in Au is GB, which is not worth money and can only buy some useless things. For example, YY of GB.
Sto is a kind of token with security nature.
the issuing process of STO token is as follows:
issuing scheme design: according to the information and requirements of the qualification of the project party, reasonable suggestions are given to avoid other risks more effectively
vie subject construction: registration of overseas subject company, tax exemption, reasonable and legal return of profits
project legal compliance: provide all legal documents required by reg compliance for project parties, apply for CID code and submit them for filing
token issuance: according to the preliminary plan, jointly negotiate the token issuance time cycle
docking of qualified investors / institutions: docking of overseas qualified investors and investment institutions such as China, the United States, Japan and Singapore<
sto overseas issuance can be divided into two types: one is rge. A +, which is registered under the SEC of the securities and Exchange Regulatory Commission, which is usually more demanding for overseas investors and can be used as long-term preparation; Second, we can apply for exemption in the sec. We only need to put it on record, and the SEC will not take the initiative to audit reg. D and reg. S. this kind of token not only has less strict requirements for overseas investors, but also has more advantages in terms of financing amount and overseas publicity
the attitude of SEC in the United States is very clear: the digital currency generated by ICO belongs to securities, so the issuance process needs to be regulated in accordance with the securities law. Bitcoin is not proced by ICO, so bitcoin does not belong to securities and is not regulated by SEC. However, the ETF of digital currency belongs to the scope of SEC supervision. At present, the SEC requires all ICOS to register, follow the process of security token issuing (STO), and follow the existing securities regulations. If we don't follow the SEC's legal sto requirements, the SEC will take severe enforcement actions
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
when new things come into being, some people will doubt it. Some people say that sto means that the existing securities have changed their clothes. If we simply pass the existing securities, then it is not innovative enough and its value is limited. It is just token of assets
we have to mention the advantages of sto. After ST is listed, it is different from traditional securities. Once the transaction is completed in the exchange and the wallet is extracted, St completes the delivery, which is faster than the tedious traditional securities instry
in addition, ST has the biggest advantage over traditional securities, that is, ST is programmable, which can bring many functions that traditional securities do not have to listed companies. These new programmable features make traditional securities become intelligent securities, and sto has the technical advantage of replacing IPO
in the process of STO's actual implementation, there is an operation method at this stage, which is to follow the process of Internet enterprises' overseas listing, first register offshore companies, then control domestic companies through vie structure, and then issue st by offshore companies, but finally not to NASDAQ, but to open finance, tzero, CSE and other licensed st digital exchanges
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4. Smaller trading unit
finally, I think that the SEC has repeatedly rejected BT currency ETF. Every time the SEC has a bit of movement, it can be directly reflected in the BTC price, and the digital asset market is just around the corner to seek new financing mode
then what kind of domestic enterprises can issue STO in the United States:
have real assets, no profit requirements
have business history and income
There was no adverse record in the United Statesthe company form is not limited; It has good market potential