On the afternoon of November 10th, at the 2019 Cryptography Economics Seminar hosted by Chongqing Technology and Business University, Liu Chang, director of the Blockchain Economic Research Center of Chongqing Technology and Business University, gave a speech on the theme of "The Nature and Structure of Cryptographic Economy". Liu Chang believes that asymmetric cryptography brings revolution and can solve the dependence on intermediary in the confirmation and transfer of payment property rights. And the essence of the blockchain is "password consensus", and a formula for password consensus is proposed, namely password consensus = asymmetric cryptography + distributed consensus. Liu Chang also proposed two basic ideas: First, asymmetric cryptography transforms the way human property is determined and transferred; second, public infrastructure cannot trust anyone's scenario application, and the global economic infrastructure has laid the foundation for this system. Technical conditions.