Source: Standard Consensus
Original title: "Is the trend of blockchain development to be a Zhuang pull, or a regular army? 》
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On October 25, 2019, a general secretary stressed in the 18th collective study of the Political Bureau of the Central Committee that the blockchain was used as an important breakthrough for independent innovation of core technologies to accelerate the development of blockchain technology and industrial innovation. The bitcoin price was pushed to more than $10,000 in the day. On October 28, 2019, China's A-shares also responded, with blockchain concept stocks mostly trading daily. From the major events that occurred in the past two years in 2018 and 2019, the external environment and the blockchain industry are undergoing fundamental changes. Significant changes will occur in both the traditional industry and the current blockchain industry.
Based on these historic events we believe that:
- The value generated by blockchain is increasingly accepted by the public
- Marked by Libra's white paper, traditional institutions accelerate their investment in blockchain
- The traditional blockchain project "Aircoin" was accelerated
Major event review
General Secretary's speech and latest policy content
In the eighteenth collective study of the Political Bureau of the Central Committee, the General Secretary emphasized that the integrated application of blockchain technology plays an important role in new technological innovations and industrial changes. It is necessary to use the blockchain as an important breakthrough for independent innovation of core technologies, clarify the main direction, increase investment, focus on a number of key core technologies, and accelerate the development of blockchain technology and industrial innovation.
The general secretary pointed out that blockchain technology applications have been extended to digital finance, Internet of Things, intelligent manufacturing, supply chain management, digital asset trading and other fields. At present, major countries in the world are accelerating the development of blockchain technology. China has a good foundation in the field of blockchain. It is necessary to accelerate the development of blockchain technology and industrial innovation, and actively promote the development of blockchain and economic and social integration.
The general secretary stressed that it is necessary to strengthen basic research, enhance the original innovation ability, and strive to let China take the leading position in the emerging field of blockchain, occupy the commanding heights of innovation, and gain new industrial advantages. It is necessary to 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. It is necessary to speed up industrial development, give 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, accelerate the deep integration of blockchain and frontier information technologies such as artificial intelligence, big data, and Internet of Things, and promote integrated innovation and integration applications. It is necessary to strengthen the construction of the talent team, establish and improve the personnel training system, build a variety of high-level talent training platforms, and cultivate a group of leading figures and high-level innovation teams.
The general secretary pointed out that it is necessary to seize the opportunity of blockchain technology integration, function expansion and industry segmentation, and play the role of blockchain in promoting data sharing, optimizing business processes, reducing operating costs, improving synergy efficiency, and building a credible system. effect. It is necessary to promote the deep integration of the blockchain and the real economy, and solve the problems of difficulty in financing loans for SMEs, difficulties in controlling the risks of banks, and difficulties in departmental supervision. It is necessary to use blockchain technology to explore digital economic model innovation, provide power for creating a convenient, efficient, fair and competitive, stable and transparent business environment, and provide services for promoting supply-side structural reforms and realizing the effective docking of supply and demand in various industries, in order to accelerate new and old kinetic energy. Provide support for continuous transformation and promote high-quality economic development. It is necessary to explore the application of “blockchain+” in the field of people's livelihood, and actively promote the application of blockchain technology in the fields of education, employment, pension, precision poverty alleviation, medical health, commodity anti-counterfeiting, food safety, public welfare, social assistance, etc. The masses provide more intelligent, more convenient and better public services. It is necessary to promote the combination of the underlying technical services of blockchain and the construction of new smart cities, explore the promotion and application in the fields of information infrastructure, smart transportation, energy and power, and improve the level of intelligence and precision of urban management. It is necessary to use blockchain technology to promote greater inter-connectivity between cities in terms of information, capital, talents, and credit information, and ensure the orderly and efficient flow of production factors within the region. It is necessary to explore the use of the blockchain data sharing model to achieve the joint maintenance and utilization of government data across departments and regions, promote business synergy, deepen the “run-up once” reform, and bring better government service experience to the people.
The general secretary stressed that it is necessary to strengthen the guidance and regulation of blockchain technology, strengthen the research and analysis of blockchain security risks, closely track development trends, and actively explore development laws. 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. It is necessary to implement the rule of law network into the management of blockchain and promote the safe and orderly development of blockchain.
The general secretary pointed out that relevant departments and their responsible leaders should pay attention to the status quo and trends of blockchain technology development, improve the application and management of blockchain technology capabilities, and enable blockchain technology to build a network power, develop digital economy, and promote economic and social development. And other aspects play a greater role.
2019 Number of patent applications for global blockchain inventions published in the first half of the year
China's research and development success in blockchain far exceeds that of other countries. According to statistics, the number of patent applications for global blockchain inventions published in the first half of 2019, the proportion of the top 100 companies in China is over 65. %.
Bakkt officially launched
Bakkt, the new cryptocurrency trading platform launched by the Intercontinental Exchange (ICE), is finally open. After nearly a year of delays and bounces, Bakkt has now been approved by the Commodity Futures Trading Commission (CFTC) and the New York State Financial Services Department, and officially started BTC futures trading on September 23. Bakkt will launch its first regulated options contract for Bitcoin Futures on December 9th, with the aim of bringing more trust and practicality to the digital asset industry. And bring more choices to blockchain financial products.
On June 18, 2019, Facebook published the Libra white paper. This is a major milestone that will certainly be recorded in history. The standard consensus research report "The blockchain in the booming day, the currency circle in the rivers and rivers" gives the judgment that "the blockchain project is going from virtual to real and gradually constructing its own intrinsic value. For the current currency circle, bad; for the public, good ."
JPMorgan JPM coin
On February 14, 2019, JP Morgan Chase announced that it was the first US bank to successfully issue a cryptocurrency that anchors legal tender. This is the beginning of the blockchain in the traditional financial industry. Standard consensus research report "JPMorgan Chase challenges the traditional currency pattern, stable currency is only the first shot" gives judgment "JPMorgan Chase issued JPM Coin, not intended to be the next USDT, this is just the traditional financial hegemony to use the blockchain to rewrite the world The first step of the currency pattern"
STO can be seen as a typical application of blockchain technology in the investment field. The popularity of the STO concept began in 2018, when various blockchain projects plummeted and the star project disbanded the currency circle after a desolate. But at that time, the standard consensus survey of global blockchain regulations found that in contrast to the “cold” of the trading market, the global warming trend of the overall regulatory trend. Unlike the vast range of functional tokens (BTC, ETH, BNB…), ST is a securities token. It anchors its own value, such as equity, income, and so on. This is also a typical application of applying blockchain to the real economy. The blockchain technology is used to distribute the value generated by the real economy to all participants. A series of standard consensus research reports provide a detailed interpretation of securitization tokens.
Digital currency market trend
Before October 25th, the digital money market as a whole is still in a downward trend. Taking BTC as an example on October 23, the volume fell and fell by more than US$1,000 in a single day, a drop of more than 10%. However, on October 24th, the Political Bureau of the CPC Central Committee conducted the eighteenth collective study on the status quo and trends of blockchain technology development. In his study, the General Secretary emphasized that the integrated application of blockchain technology plays an important role in new technological innovations and industrial changes. We must take the blockchain as an important breakthrough for independent innovation of core technologies, clarify the main direction, increase investment, focus on a number of key core technologies, and accelerate the development of blockchain technology and industrial innovation.
- The digital currency led by BTC started to rise rapidly. The BTC rose more than 3,000 US dollars in two days, an increase of over 40%, and the volume of transactions also expanded rapidly. The sentiment of the digital currency secondary trading market was mobilized because of the general secretary's recognition of the blockchain, but as the mood calmed down, market transactions gradually cooled down and fluctuated at a high level.
- At the same time that the mainstream currencies have risen sharply, the "air coins" have also been swaying, and they want to take advantage of the market's east winds. However, these "air coins" projects have risen rapidly and have fallen rapidly, with a one-day decline of more than 50%. It fully shows that the market is increasingly rationalized in the blockchain project, and the speculation is still dominated by mainstream coins and traditional public chain projects. The choice is also biased towards projects that are more grounded in the future and more focused on the application.
- After the general secretary’s speech on the blockchain on October 24th, the US stock blockchain concept stocks took the lead in the trend. Thunder rose 20%, closing up more than 107%, and still rose 18% before the October 28th Thunderbolt. The rally is strong.
- On October 28th, A-shares opened higher, blockchain concept stocks rallied, and the number of stocks in the two urban blockchains exceeded 100, the blockchain index rose to 8.12%, and the volume of transactions increased exponentially. In the short term, blockchain concept stocks will continue to rise.
Blockchain industry development trend
A summary of the above events can be seen:
- The global Internet and financial giants are accelerating the layout of blockchains;
- Global policies are beginning to tilt towards blockchain, including regulation and incentives;
- The current blockchain project has undergone serious differentiation.
From these phenomena, we speculate that the future development trend of the blockchain industry is that blockchain technology will soon be applied to the real economy and generate value, and the original "aircoin" projects will be accelerated. It is still a question whether the traditional blockchain project represented by Bitcoin can survive.
To quote the end of a circle of friends: "Is the blockchain on the top, what are you happy with the blockchain?" History tells us that the first thing is the regular army.