Babbitt column | blockchain, naturally has To B gene

First, the block chain of To B gene

In the white paper of the blockchain of Tencent, there is such a sentence: the blockchain naturally has the To B gene.

This sentence is very interesting and worthy of careful consideration.

At present, everyone is complaining that the biggest problem in the blockchain is that there are too many bubbles and there are no projects that really land. Although each of our participants is also trying to make the blockchain fall as soon as possible, it has little effect.

I recently thought about such a question: Will everyone think that the blockchain has not landed? This problem is not in the landing itself. In fact, there are already many landing projects in the blockchain, but most of the blockchain projects It’s all To B, not To C, so the public’s perception is not so strong?

For example, there is a project in the Tencent blockchain that is a blockchain invoice, and I cooperate with the Shenzhen Municipal Bureau of Internal Revenue. I believe everyone has heard of it. Many people have ridiculed that Tencent's blockchain invoice project does not use the workload certificate or the UTXO account system. This is a traditional Internet project without any blockchain elements and blockchain. There is no relationship between half money.

However, behind it is the use of distributed accounting system, whether you think it is an Internet invoice or a blockchain invoice, Tencent blockchain invoice this project can really solve the actual problem, also got the tax administration Recognized, more than 2,000 companies have been connected to the company. As of the fifth anniversary of the blockchain electronic invoice on August 5, 2019, nearly 6 million invoices have been issued, with an average of 44,000 invoices per day. The invoice amounted to 3.9 billion yuan.

In addition, the central bank of China has officially issued a blockchain-based check digitization system, mainly for the current bill financing of enterprises, which is designed to combat financial fraud and reduce the cost of printing checks. The system has been put into use. More than a year.

Central Bank Digital Billing System: Based on the analysis of the characteristics of digital bills and their transactions, we have initially completed a digital billing technology infrastructure based on blockchain technology and smart contracts. Each digital ticket is a program code containing the business logic of the ticket and the corresponding ticket data information. The digital tickets running on the blockchain have independent life cycle and self-maintenance business processing capability, and can support bill acceptance, A series of core business types such as endorsement transfer, discounting, discounting, and redemption, and various business rules can be realized through intelligent contract programming.

In this way, the blockchain has clearly landed in many aspects, but why is it not perceived by ordinary people?

Because these two projects are public, that is, they are all To B. For example, invoicing, individuals generally have less invoicing, all related to the company's business will be invoiced; digital bills are not ordinary people. It will involve, and it is also the behavior that will be involved at the company level, so the ordinary people of these two projects are basically unable to perceive.

In fact, there are still many projects. For example, the Tencent blockchain involves the traceability of goods and the supply chain financial projects are the same. Ordinary individuals will not have nothing to do with product traceability, nor will they involve supply chain finance. No matter how good the two projects are, ordinary people will feel nothing.

Second, massive users and massive assets

Having said that, I think of a very classic saying that Changchun once said. He said: Perhaps the killer DAPP of the blockchain may not be massive users, but massive assets.

After this idea came out, it caused a lot of controversy at the time. Many people’s comments are like this:

  • There are no huge users, where are the massive assets?
  • This is clearly advertised to the original chain than to the original chain;
  • This definition of Wang Po selling melons and self-selling is basically negligible.
  • The Dapp, which spurns the people, will be cast aside by the people.

In fact, if you put the words of Changchun into the scope of this article and think about it, you will find that it is quite reasonable. The difference between massive users and massive assets is essentially the difference between To C or To B.

For example, in the supply chain financial business, there may be three or five companies involved in a supply chain, or a dozen or more than 20 companies. The specific users involved will not be too much, but the funds involved. It may be 10 billion, 100 billion, and trillions of funds.

If a blockchain is used to carry this service, even if there are not many people using this blockchain, it may survive successfully because there are not many people used, but the amount of funds used is large enough.

Third, USDT

If the supply chain is still far away from us, we can think of the USDT example again. There is such a saying in the market: “The USDT is the best in the world” and “a USDT can support a public chain”.

Taking Ethereum as an example, although Ethereum was once known as “the first public chain of blockchain”, the momentum and Bitcoin kept pace. However, with the demise of ICO, the demand for financing in Taifang has basically disappeared, so Ethereum The development of the company was greatly restricted. Later, people even suspected that Ethereum had become an air currency, and doubted whether it would be ruined.

However, Ethereum was active again a while ago, and the Ethereum network began to be congested due to the excessively active trading. The reason was that the ERC20 version released by USDT was on fire, and the ERT20 version of the USDT could crush the Omni version in performance. USDT, so everyone started to turn to the Ethereum version of the USDT to transfer money and trade.

In the above statement, although you have no need for ETH, but you have a demand for USDT on ETH, then ETH carries mainly massive assets, not massive users, and this is enough to make ETH resound.

Sun Yuchen of the wave field obviously understands this. He recently pushed the Trx-USDT, which is the wavefield version of the USDT. He has already issued more than 500 million US dollars, and his recent goal is to issue $1 billion. It is said that the USDT transfer on the wave field has no handling fee, and the arrival time is short. The performance is said to be better than the USDT version of the USDT. If it can be issued to USD 1 billion and it is really used by the market, you will find that although you are There is no demand for the wave field DAPP, but the wave field can still survive, and it is better to live better, so no one can say that the wave field is air currency, because although there are not a large number of users, it carries a huge amount of funds.

Fourth, from the perspective of value

We often say that the Internet is used to convey information, and the blockchain is used to convey value. The value of this thing is different from the information. The information is relatively simple. Everyone needs it. Everyone can produce it. But not everyone has value. Of course, the value mentioned here is the value in economics, not philosophy. Value in value.

Most of us are ordinary people. Usually we can go to work, go home and bring children, usually go out to watch movies, buy shopping, basically have no chance to get in touch with financial and commercial things, and there is no chance. To generate cash flow and engage in asset securitization, it is straightforward that most people cannot produce value, and only a very small number of people can generate value.

The so-called "IDO", which has been popular for some time, is to pass the individual's rights. For example, a star's contract and income pass, such as a singer to pass on his record income, such as a celebrity to pass their own visitor time and so on.

You will find that it is the citation of celebrities, not the generalization of ordinary people. What is the reason? Quite simply, only celebrities can generate value, and ordinary people can't produce any value. In our lives, perhaps 1% of people can generate value, create value, and deserve securitization.

From this point of view, since the blockchain is used for value transfer, ordinary people can't produce value. The blockchain may not be based on individual participation, which means that the most important direction should be To B. From the perspective of To C, it may be vivid.

V. From the perspective of risk

Of course, it is not that the blockchain can't be To C. The blockchain can of course be To C. For example, digital currency payment is To C, and digital currency trading is To C, which we can use for every ordinary person. In fact, all To B businesses are ultimately To C in the end.

However, all digital currency To C businesses will encounter problems, such as financial risks. When it comes to digital currency payments, there are problems of money laundering, tax evasion and tax evasion; when it comes to digital currency financing, there are problems of illegal fund-raising and fraud, and many blockchain projects have relatively large financing amounts, hundreds of millions The dollar, $1 billion, and even $4 billion, the hard-earned money of countless families has pieced together such a project. If the project fails or returns to zero, I don’t know how many families have suffered heavy losses. In serious cases, even Social Issues.

I think the reason why the country has made a one-size-fits-all approach to digital currency financing and moved all digital currency exchanges abroad is to strike such a harsh policy against it. Digital currency should be very cautious when it comes to To C business. There should be a screening process. For example, if there is such a qualified investor system, it must have several million assets, or people with several years of investment experience can participate. Or at least sign a risk warning first.

In fact, you see the speech of General Secretary Xi, the vast majority mentioned in the introduction of the real economy, are To B business, To C business mentioned less. It is not impossible to get To C, but To C needs strong supervision, and we need to build the legal environment first.

The underlying logic of finance is the matching of risks and returns. Ordinary people do not have the strong ability to resist risks. They may not be subject to such large fluctuations. When most Tokens need financing, they should mainly finance institutional investors, that is, To B-end financing. If it is To C-side financing, it needs to undergo a very strict review.

Conclusion

The blockchain naturally has the To B gene, which is more suitable for the To B business;

The landing of the To B business is also landing;

All To B businesses are ultimately To C;

To B or To C is good, as long as it can reduce costs and improve efficiency.