Under the circumstance of Wuzhen policy, the blockchain investment tells you, where is the opportunity?
On November 8, "2019 World Blockchain Conference·Wuzhen" officially opened in Wuzhen. In the afternoon sub-forum "Digital Assets: Birth, Deduction and Evolution", FBG blockchain investment fund founder Zhou Shuoji, Hashkey Capital CEO Deng Chao, IOSG founder Jocy Lin, Win Chain fund partner Yan Shanjian, SNZ founder Shi Haihua, Pan Yizhang, CEO of the ABA Asia Blockchain Accelerator, and the host, Lin Tianqiang, deputy dean of the Internet Industry Research Institute of Tsinghua University, held a roundtable discussion on the theme "Where is the smartest capital flow, 2020 investment trend discussion".
From left to right, Lin Tianqiang, Zhou Shuoji, Deng Chao, Jocy Lin, Yan Shanjian, Shi Haihua, Pan Yizhang
What are the feelings of professional investors under the policy guise? Where are the opportunities or opportunities?
Shi Haihua: It is very good for the alliance chain. I hope that everyone will pay more attention to the direction of the alliance chain, and put more energy into the actual application of the landing to embrace it.
SNZ founder Shi Haihua
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From the perspective of the industry, it is very beneficial to the alliance chain . There is a public chain and a chain of alliances in this industry, which has always been accompanied. We started to do some alliance chain layout three years ago and developed some alliance chains ourselves. But at that time the driving force was different. The big difference between a public chain and a coalition chain is its driving force. One is native and the other is external. The driving force of the public chain is native, and everyone knows. Alliance chain, when you make a product who will use it, who will buy it, if you have a customer after it is bought, its customers are willing to pay, and its customers are willing to offer more updates on the product. Can we form positive feedback, which is the closed loop that drives the entire technology forward, but it was not.
All products were made three years ago. In the Ethereum community, we transformed Ethereum into a coalition chain, plus an account management system, plus a smart contract, plus an application, but it could not be sold. Today, three years later, we also communicate with many friends in San Francisco, especially foreigners. They are very excited about China's policy changes, because the direction of the main driving force has changed. When the policy came out, there were so many stocks in the two cities on the first day, and the increased market value far exceeded the original volume of the market. Now in my opinion, the main driving force is definitely in the alliance chain. And I also hope that everyone will pay more attention to the direction of the alliance chain, and focus more on the practical application of landing, to embrace it.
Yan Shanjian Assistant: DeFi (Decentralized Finance) will be an opportunity to re-innovate existing centralized finance.
Win Chain Fund Partner Yan Shanjian Assistant
The troika of investment is “traveling”: exchanges, mining machines, communities to users on the C side. I believe that next year's mining opportunities will usher in a small amount of revenue. The specific income depends on how much revenue the 2020 market brings.
In the case of the exchange, the entire market trades all the feeling of flooding. The exchange is now too numerous. Do similar exchanges, OKEx, fire coins, currency security, they already have their own stable membership data, daily transaction data is relatively stable. If I go to the exchange in the head space, I personally think that its market share can be as much as it can be. Directly enter the C-end users, do community-based, undertake high-quality digital assets to incubate, although very hard, but its value is certainly relatively large.
DeFi (Decentralized Finance) will be an opportunity to re-innovate existing centralized finance. Jocy Lin: Don't be happy with things, don't be sad, and the policy is high and low. Regardless of high and low, stick to what you think is right.
IOSG founder Jocy Lin
My mood is not to be happy with things, not to be sad . Not happy with things, we saw a Japanese exchange in the last two years, very compliant. The volume of transactions before the license was very large was very good. After taking the license, a lot of tokens were issued, causing its trading volume to shrink. The entire Japanese exchange has also fallen into a strange circle. More than a dozen exchange warrants are sitting together, letting players come in to do exchanges, not letting players come in to trade, and regulators hand over the regulatory power to the underlying compliant exchanges. Let them pick in new exchanges, which led to the current depressed market situation in Japan.
The United States has issued licenses for hosting and trading, and it is getting better and better. China now has a policy to promote the blockchain industry. To do this well, it will certainly play against many countries. The current game is the logic of strong supervision of the state logic and weak supervision of the country. As a big country, China must compete with the United States and Japan at the regulatory level, and it will be dangerous for the industry.
Not sad. Before 10.24, everyone's mentality was the same as mine. IEO has become a thing of the past. Many projects cannot be pushed out and there is a problem with cash flow. Overseas or technology-focused people focus on technology, the whole market can not see new vitality and opportunities, but there are still many people who focus on doing their own things and thinking about the right things. Regardless of the changes brought about by the policy, we will not be sad. Every institution, every individual, and every market participant should stick to what they feel is right and look at the longer-term goals they feel. The policy is high and low, regardless of high and low, as long as you think it is right. Deng Chao: Welcome to China and Welcome to Chengdu; traditional capital is about to enter, we have to be crisis-conscious
Hashkey Capital CEO Deng Chao
We have done some activities in the "blockchain week" in San Francisco, and we have also visited institutions in the United States. If a meeting is an hour, there are 20 minutes to half an hour in front of discussing this policy issue. Finally, I summarized this question into two simple sentences, the first sentence is called " Welcome to China ." Macroscopically, the previous blockchain, especially the Token-related business, is relatively sensitive after 2017 in China. After releasing a positive signal on the day of the 10th, the blockchain-related business or the company's employees are more relaxed from a macro-environment; or from a higher regulatory or compliance perspective. Clear and more clear. The last time I enjoyed the top management treatment was AI, big data, and artificial intelligence. Raising the emerging field of blockchain to the national strategic level was a very good macro environment for the industry.
The other sentence is " Welcome to Chengdu ". Chengdu is a mining capital, and there are some environments where mining is not clear. Now the NDRC has removed the virtual currency mining from the elimination of industry entries. There are some positive factors for some industry segments. Everyone knows the good news of Jianan, which is from the macro environment.
Looking back at the investment-specific project, I have not seen any substantial changes in the two-week project, and more is the change in market sentiment. On the contrary, I would like to remind all blockchain practitioners that whether they are investing or doing projects, they must have a certain sense of crisis. When the macro environment is more friendly, it means that more professional resources networks that these practitioners may face in the market, more Big chunks are coming in. We have not counted the global blockchain-related practitioners, and may be at the tens of millions. The resources we have are in the order of millions of dollars. Any traditional big man coming in, whether it is the volume of work or the volume of resources, must be an order of magnitude in the current circle. We also need to be aware of the crisis .
From the perspective of investment projects, the technology is applied to real application scenarios. From the perspective of investment trends, more and more projects are moving from Token financing to equity financing. Very simple question, the original investment in the blockchain, more to look at the blockchain vision, more to see more business. If a blockchain technology is made commercially, it will be presented in the form of a commercial entity, which will compete with commercial entities. In the macro environment, we have a more friendly macro environment and a clearer regulatory framework. From the perspective of industry segmentation, we should have more crisis awareness and truly realize the value of technology in blockchain technology, not just the performance of the secondary market. Zhou Shuoji: Thanks for the policy changes, it is a threat to the pure currency circle, but it is good for the industry; embracing compliance is the trend.
Zhou Shuoji, founder of FBG Blockchain Investment Fund
First of all, thank you for the change in policy. I think that the policy orientation is for the pure-currency investment institutions. I see that more is not an opportunity but a threat. This is my basic view. At the beginning of this year, before the policy came out, even if you invest in the blockchain To B, everyone will see the traffic and see the landing.
In this environment, I see some opportunities here. I have always had an idea. In the field of entrepreneurship, I think that after the blockchain appeared, I reshaped Token in the blockchain, reshaping things on Wall Street, and various financial services. Finance is a field of strong regulation and very strong regulation. Any innovation here is not easy. Everyone can also see the innovation of the currency circle, and the pressure is very big. Whether it is policy pressure or operational pressure. Now, after seeing the favorable policies, I may carry out some financial services for us. In the chain, whether it is centralized or decentralized, there are new opportunities. When you go out to advertise or show technology to new users, you can let others sit down and talk, because most people go out and think you are a liar. After the policy comes out, everyone is taking a serious look, look at the application of this thing, look at the currency, this is a very good thing for the whole industry, there are more user base.
There is also a trend to return to comply with local regulatory policies. For example, Hong Kong comes out with new regulations, and the rest are very strict. I believe that there is no serious exchange to apply for this license, because the business has not been done after the application. Of course, there are people who do it in different ways.
After the policy is favorable, especially for the niche, the policy red line will draw a lot of circles, and we operate at a small point. This point expands outward and can continue to expand. This is a question we think about and a problem that practitioners look at.
What are the advantages and characteristics of Taiwan and China in the development of blockchain industry?
Pan Yuzhang : In fact, the blockchain is borderless, borderless, and belongs to the whole region. Although Taiwan is very small, because the race is very diverse, and because the relationship between the two sides is very good, there are many projects that have been put into practice in Taiwan and experimented. In Taiwan, the relative salary of the engineer is relatively cheap, the consumption power is relatively low, but the quality of life is good. Everyone is suitable to be the second branch or the third branch there.
ABA Asia Blockchain Accelerator CEO Pan Yuzhang
Looking to 2020?
Zhou Shuoji : The application of financial services in the blockchain.
Deng Chao : It will develop in the direction of technology landing and compliance.
Jocy Lin : We'll look at some of the bottom-level protocol projects that are user-friendly and more focused on the developer community.
Yan Shanjian Assistant : Proof, right way, the right path is the vicissitudes of life, then we will continue to move forward in the community incubation sector!
Shi Haihua : Embrace the alliance chain and focus on equity investment.
Pan Yuzhang : We pay more attention to the traditional industries, as well as the blockchain incubation of large industries. Now we have hatched Taiwan's farming, planting, agriculture, and even the incubation of the tourism industry. We will go deeper into this piece and even put more Rich companies are also bringing in the blockchain industry, which is our focus.
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