When will the inflection point of the blockchain industry emerge?
PricewaterhouseCoopers report: There will be three major trends in the blockchain industry in the second half of 2019
First, M&A activity in the blockchain sector will increase, and companies tend to purchase related businesses directly rather than developing native blockchain businesses. The M&A business in the mining industry was the most active in 2018, but by 2019, M&A in the blockchain infrastructure sector was the most active.
- Bitcoin fell 11% on two days, a generation of God machine ant mining machine S9 is in jeopardy
- PwC encryption investment report: Eurasian UP, US DOWN
- Bitcoin smashed 19 times at the $10,000 mark in two months, and may not see 4-digit bitcoin again after this time.
- Will Libra become the “UN coin”? Libra Association: We can help the UN achieve many sustainable development goals
- Staking and DeFi war
- Since the Queen of Hamburg, PricewaterhouseCoopers Luxembourg accepts bitcoin payments
Second, financing activities in the blockchain sector will increase. Blockchain infrastructure, trading infrastructure and exchanges in the three most active segments of financing activities continue to be active, but alternate.
Third, the industry's participating institutions continue to expand, such as Morgan, China Construction Bank, facebook, Microsoft and so on.
The blockchain industry experienced a major outbreak in 2017. It reached its peak in 2018 and then began to turn down. This process is very long, but it is only a short period of more than two years. Since the summit block industry has been on the summit, it has been more than a year of hard work. This time period is basically coincident with the bear market time period.
The most fundamental reason for the bear market is that the degree and efficiency of the industry development is not enough to support the long-term and large-scale speculation of capital. Although the economic environment continues to deteriorate, it is also an important reason, but in the end, the fundamental problem of the blockchain industry is still At the level of development.
A new technology and a new industry with only a good vision and a major milestone in the short term, capital can only be a modest participation in controlling the scale, and a new technology industry that lacks sufficient capital investment cannot develop rapidly in the short term. This has formed the embarrassing situation of the blockchain industry.
For the prediction of PricewaterhouseCoopers, I feel a little different:
1. About mergers and acquisitions
Mergers and acquisitions are to complement shortcomings and quickly improve their capabilities to form new competitive forces. However, in the current situation, infrastructure capabilities (technical and landing) are very lacking in the entire industry, and the goal of M&A is a big problem. If there is a suitable M&A target, then the development of the industry will not be in this state. High-quality mergers and acquisitions are definitely good for the development of the industry, but in the second half of 2019, I feel that such valuable mergers and acquisitions will not appear, the possibility of strong alliance is very small, and the weak alliance is meaningless.
2. About financing
At the beginning of 2018, when many friends exchanged their development prospects, everyone was more pessimistic. It was also predicted that by the end of 2018, many blockchain startups would disappear. Because the money I got in the previous period was almost the same, and I didn’t make any achievements, I couldn’t get new financing, so disappearing is the inevitable result. In the second half of 2019, a considerable portion of the live blockchain companies had less and less cash reserves in their hands. To make matters worse, the price of the coins also fell, and they did not have the ability to make blood, so their demand for financing will be even stronger. And as time goes by, the play has also been played, the current eyes are also present, investors are not fools, so for these teams, whether it is equity financing, or currency financing, the difficulty It will get bigger and bigger. Therefore, I feel that financing may become more and more tight, not more active.
3, about landing
I have always insisted that the blockchain industry will not usher in an inflection point if there is no killer application. Although from the data point of view, the industry's participating institutions continue to expand, but many businesses are new bottled old wine, there is no substantial breakthrough, and many large companies participate in blockchain projects are playing the nature of the ticket, success or failure It will not affect its life and death, so the general motivation is insufficient. Therefore, the final result is that the thunder and rain are small, the technical innovation is not enough, and the depth of the business has not made much progress. Therefore, I think that the killer application of the blockchain and the real economy is still unlikely to emerge in 2020.
The blockchain is not the future, only it can prove to the world.
The winner wins, the loser dies, the reason is simple, and it is cruel! !