The peak moment of the blockchain

Text: 霆钧

On October 24th, the Political Bureau of the CPC Central Committee conducted the 18th collective study on the status quo and trend of blockchain technology development. The core purpose is to make the blockchain an important breakthrough for independent innovation of core technologies and accelerate the promotion of blockchain technology and industry. Innovation and development.

On the evening of October 25th, the blockchain even went on the news broadcast, and it took more than 5 minutes to talk about it. The blockchain also made headlines in the People’s Daily.

As soon as the news came out, the blockchain industry was full of joy. The blockchain stocks listed in the US surged 107.76%, and Bitcoin skyrocketed from the previous 7400USDT to over 10,000USDT. The entire market, from the cold winter of the grass to the vibrant spring, took less than a day, which is the peak of the blockchain.

Everyone said that this is the biggest advantage in the history of the blockchain industry. I have read this news content many times and talked about my own understanding and feelings. I also welcome everyone to discuss and exchange ideas.

1. Strategic Heights


The reason why the blockchain has been pulled up to the core of the core technology independent innovation is to seize the strategic commanding heights and compete for the international discourse power of the industry. This point is directly raised at the beginning. “Strengthen basic research and enhance the original innovation ability. Efforts to make China in the emerging field of blockchain at the forefront of theory, occupying the commanding heights of innovation, and gaining new industrial advantages . We must promote collaborative research, accelerate the breakthrough of core technologies, and provide safe and controllable technical support for the development of blockchain applications. It is necessary to strengthen the research on blockchain standardization and enhance the right to speak and rule in the world ."

This is the result of the international game of blockchain, which is essentially the right to speak for international financial change.

The sudden acceleration of the blockchain sector in China is mainly stimulated and influenced by Facebook’s intention to release Libra, as Zuckerberg said at the Libra hearing. “Before we move on, we really need to solve some major issues. Risk, but I also hope that we can discuss the risks of not innovating, especially considering the digital currency of the People's Bank of China." China's central bank's digital currency, DCEP and Libra, compete for each other, vying for the dominance of circulation and use of new currencies based on blockchain technology on a global scale.

Of course, there is a significant difference between the two. DCEP is essentially a renminbi, exactly the same as a banknote, and there is a national credit as an endorsement. It is only digital in form, and the price is exactly the same as RMB.

Libra, nominally, wants to build a simple, borderless currency that serves the financial infrastructure of billions of people, but in fact, Zuckerberg is in the government’s approval for US regulatory approval. Shown, from Libra's currency composition can be seen, the dollar 50%, the euro 18%, the yen 14%, the pound 11%, the Singapore dollar 7%. In this case, the US dollar accounts for 50%, in order to better safeguard the US dollar and the US global financial hegemony benefits, and thus obtain the support and approval of the government, reflecting the national interests of the United States, while 50% of other currencies are for Better to promote and penetrate Libra on a global scale, Libra's currency composition does not include RMB.

Prior to this, Mu Changchun, director of the Digital Money Institute of the People's Bank of China, got a six-chapter chapter on technology finance courses offered by APP. Four chapters analyzed Libra, and two chapters explained the digital currency DCEP that the central bank will issue. The two are highly relevant, and the competitive relationship is also evident. It is precisely because of the release of the Libra white paper on June 18 this year that the development and launch process of China DCEP has suddenly accelerated.

Of course, from an international point of view, competition is not limited to Libra and China's DCEP. There are more opponents who are eager to see, whoever lets go first, who can seize the opportunity, and the Chinese government's goal is to seize the block. Strategic highlands in the chain and digital finance arena.

2. Blockchain technology and industrial development

"To accelerate industrial development, give full play to market advantages, and further open up the innovation chain, application chain, and value chain. It is necessary to build a blockchain industry ecology, and accelerate the deep integration of blockchain and artificial intelligence, big data, and Internet of Things. Promote integrated innovation and integrated applications." This paragraph directly points out the development direction of the blockchain industry.

Blockchain should not be an embarrassing technology that is highly suspended in the air. More and more breakthroughs should be made at the actual landing level. Blockchain technology should bring tangible benefits to enterprises and people. These areas of landing include not only the financing of SME loans, the difficulty of bank risk control, and the difficulty of departmental supervision, but also education, employment, pension, precision poverty alleviation, medical health, commodity anti-counterfeiting, food safety, Many areas of people's livelihood, such as public welfare and social assistance, bring personal life changes and social welfare to the people.

Therefore, the main theme of the next industry development is to promote the combination of blockchain technology and industrial development, which is the direction that blockchain entrepreneurs can focus on.

3. Impact on digital assets

In addition to the obvious, Bitcoin has risen and the blockchain concept stock has gone up. There are two other key words in the press release. “The application of blockchain technology has extended to digital finance , the Internet of Things, smart manufacturing, supply chain management, digital asset trading and many other fields.” In the past, the government has been working on the blockchain. Emphasis is on the technology, that is, the field of the chain. This time, the direct disclosure of digital finance and digital asset trading has been clearly mentioned. This is a huge change. From the 94 ban in 2017, the trading services provided by the exchanges are clearly prohibited. In terms of putting digital asset transactions on the table, this is a qualitative leap and transformation.

At the same time, it is inevitable to strengthen supervision, and strengthening supervision will be done as a key task. As mentioned in the report, “it is necessary to strengthen the guidance and regulation of blockchain technology and strengthen the security risks of blockchain. Research and analysis , closely follow development trends, and actively explore the law of development. It is necessary to explore the establishment of a safety guarantee system that adapts to the blockchain technology mechanism, and guide and promote blockchain developers and platform operators to strengthen industry self-discipline and implement safety responsibilities. Implement the rule of law network into the management of blockchain and promote the safe and orderly development of blockchains. "

霆钧 It is highly expected that the exchanges will be issued and the supervision will be strengthened with reference to the practices of the United States and Japan. This will definitely benefit the long-term development of the digital asset trading industry, and it will also protect ordinary investors, but for the bosses who open the exchange, the days are not so good. It is a matter of time before the closing and rectification of the Manchurian Digital Currency Exchange. Here, investors are reminded to raise their own currency from the small exchange as soon as possible to protect their asset security.

It is even possible to reopen the legal currency transaction and tax the digital asset transaction. These are equal to the disguised recognition of digital assets. At the same time, it is also conducive to the entry and exit of large funds. The price of the currency is naturally rising. Ordinary investors can not worry about the receipt of black money by OTC. The security of the assets is also better.

4. Digital finance

At the same time as digital asset trading, there is also the concept of digital finance. "We must promote the deep integration of the blockchain and the real economy, solve the problem of financing difficulties for SME loans, the difficulty of bank risk control, and the difficulty of departmental supervision." This sentence can not help but make people think about it, and see some interpretation articles, Solving the SME loan financing is interpreted as allowing the currency to be issued, similar to the STO model that was previously discussed. I think this is possible, but even if the currency is allowed, the conditions and restrictions will be very strict, and the whole process of advancement will be very cautious.

The issue of currency has always been a very sensitive topic. The previous 94 incident occurred because the ICO's token issuance was overheated and there were huge hidden dangers in the financial economy. 94 ICO was also prohibited from the perspective of maintaining financial stability and protecting the interests of investors. of.

Then contact the second half of this sentence, "solving the difficulty of financing loans for SMEs, the difficulty of bank risk control, and the difficulty of departmental supervision", it is more likely to integrate the blockchain into credit information technology as credit and supervision. A means to strengthen bank risk control and better lend to eligible high-quality SMEs.