Virtual currency IPO
blockchain is a general technology derived from bitcoin. It implements a decentralized database model. Bitcoin can be called blockchain 1.0 because it has no concept of smart contract. The key technologies of blockchain include cryptography encryption and decryption and consensus mechanism. Blockchain is generally used to combine with specific business logic, which needs to rely on smart contract, which provides an execution mode free from human interference
the IPO of ICO originates from the concept of initial public offering (IPO) in the stock market. It is the behavior of blockchain project to issue token for the first time, raise bitcoin and solve Ethereum and other common digital currencies.
IPO is the initial public offering of a company. After IPO, the company can go to the securities exchange market for listing. Of course, there are various regulatory enforcement before and after the IPO, and the whole process is completed in reality
the difference of ICO is that the public offering party can be an indivial, a company, a community, or an institution. After the offering, it is listed and traded on the online virtual currency trading platform, such as smart star Witkey, XX eight, XX one proct, etc. the whole process is completed on the Internet
virtual currencies, such as bitcoin and Ethereum, have become fixed currency in circulation on the Internet, such as the US dollar in the real world. Most of the ICO process is not the project party selling its own equity, it should be said that it is the right to use, that is, the expected qualification of the future value of the proct
resources ICO internet post bar
the content of this article comes from: financial code of the people's Republic of China: application edition, China Law Press
Recently, there are three popular concepts: blockchain, bitcoin and ICO
one is the blockchain, which is the blockchain in Xu Xiaoping's internal letter that "if it goes along, it will prosper, if it goes against, it will die"
the other is that it has been hyped for several years, and the price keeps going up and down, but some people have been advocating bitcoin that "each bitcoin will rise to $10000"
Another is the ICO, which Xue Manzi cheered and advocated a few months ago and later was strongly concerned by the regulatory authorities. On the night of January 12, the day before yesterday, the China Internet Finance Association issued an announcement entitled "risk tips on preventing disguised ICO activities", in which it named the digital currency "chain gram" (formerly "play guest currency") released by Xunlei, saying that it "replaces the legal currency payment obligation for the services contributed by the participants, which is essentially a financing behavior and a disguised ICO". As soon as the news came out, Xunlei's share price fell sharply in the early trading of us time on Friday 
"bitcoin" does not solve any problems
besides bitcoin, Xiaotao has always been a loser of bitcoin, because in Xiaotao's view, bitcoin has not solved any new problems. In other words, what would the world lose without bitcoin today? Who and which transactions will be affected? The answer is that no one will be affected except the most special people. What are the advantages of bitcoin over existing currencies? Stable currency? Security? Low cost
the decentralization advocated by bitcoin is nothing more than evading regulation. For example, the goods between the two countries should have gone through the customs. The Customs has eight channels. Now you have an underground channel. Although the distance may be closer and many customs ties may be exempted, it is illegal. It is a typical Arbitrage Behavior to evade supervision. Solving one's own problems on the premise of harming social interests and order is not desirable and can not last
What's more, in order to obtain bitcoin, the huge "mining" workload consumed a lot of power and computer computing power, and did not create any value, which is a huge waste of social resources. It is said that the cost of digging a bitcoin has reached 3000 to 4000 US dollars...
"ICO" is a typical Ponzi scheme
as for ICO, the so-called IPO project with digital currency as the media, sticking to its own hot speculation concept, holding the idea that it is not ready to cash, or the idea that the feasibility is almost invisible, relies on a kind of digital currency that evades the supervision to let people buy and hype the price... This is a typical Ponzi scheme, or open a casino in disguise
there are many such cases in history. A few years ago, some people divided any painting into tens of thousands of shares, marked a price for everyone to buy and hype; Hundreds of years ago, the Dutch were crazy about tulips. A tulip price could buy a castle... Everyone knew that it was a bubble. They all knew that the bubble would burst, but everyone wanted to beggar the neighbour, hoping to get a.
before the bubble burst.innovative digital currencies such as lightcoin, Ruitai coin and dogcoin can only be a supplement and a new attempt of bitcoin.
1. The IPO project issues shares of the company, the main body of the issue is the legal person of the company, the legal currency raised, such as US dollar, RMB, etc., and the funds raised are used for all kinds of proction and operation activities; The ICO project issues "coin", the main body of which is the developer of digital currency project, and the fund raised is the existing digital currency
IPO projects often take a long time and go through a series of cumbersome proceres. It may take six months to complete the whole IPO process, which is not included in the preliminary planning stage; The ICO project does not need to go through complicated proceres. The whole ICO project is completed online, investors invest online, and project issuers raise funds online. The efficiency is very high and the progress is very fast 3. Regulatory audit
IPO can only be issued after the regulatory body has passed the audit, and the relevant laws are sound; However, ICO does not need to be reviewed by regulatory agencies, because ICO as a new thing grows too fast, regulators can not keep up with its pace of development, and the relevant laws are not perfect
4. Cross border financing
the financing of IPO projects is often limited to a country or a region and supervised by regulatory agencies; The ICO project is online financing, and its technical basis is blockchain technology, which has the characteristics of decentralization and unconstrained
5. Investor income
for investors, when investing in ICO projects, investors buy "tokens" with their digital currency. When "tokens" are successfully listed, their prices will fluctuate greatly, and investors can sell them at high prices for profits; When investing in an IPO project, the company's stock price usually rises sharply after it is listed and traded, and it can also profit from the price difference
6, equity, decision-making power
the shares issued by IPO are not only an investment target, but also represent a certain proportion of equity. Equity means decision-making power, and shareholders have the right to speak and make decisions on major decisions of the company; However, ICO is a pure speculative proct, and profits from its price fluctuation. The investors holding "token" do not have the decision-making power or influence on the project
source of reference: Internet ICO
source of reference: Internet IPO
IPO process of RMB in Hong Kong:
in September 2010, the Hong Kong stock exchange concted the first RMB proct trading simulation test
on February 28, 2011 and March 1, 2011, two joint press conferences of RMB securities trading were held in Cantonese and English respectively
on March 4, 2011, the last press conference of listed RMB securities business was held
on March 7, 2011, the central clearing system was established The deadline for setting up RMB settlement accounts is
March 19-21, 2011. Securities companies must participate in the simulation test of RMB proct trading and settlement from March 19-21, 2011, and confirm with the Hong Kong stock exchange whether they are ready before March 21< On March 19, 2011, the Hong Kong stock exchange concted the second RMB proct trading simulation test
on April 11, 2011, Huixian real estate was officially offered
Huixian real estate trust was listed on the Hong Kong Stock Exchange on April 29, 2011
there are three situations for Hong Kong investors to subscribe for IPOs with RMB margin:
1. Securities companies own RMB positions and lend them to customers for margin investment
2. Securities companies convert the borrowed Hong Kong dollars into RMB and then lend them to indivial customers for margin trading< Third, customers borrow Hong Kong dollars from the bank and then convert the Hong Kong dollars into RMB.