Viewpoint: Fuzzy of Business Boundary and Evolution of Blockchain Pattern

Mr. Darwin's "Theory of Evolution" has been translated into evolutionary theory. In fact, mutations in species and the retention of such changes, it is difficult to say whether this change is for the individual to evolve or degenerate.

The evolution has taken place, the natural selection, the survival of the fittest. The business pattern and model are constantly evolving. I have been thinking about this problem for a long time. This time I went to Wuzhen and chat with friends in the industry to strengthen my previous judgments. So I decided to present these thoughts, describe the words, and help myself. Thinking, it also provides a reference for investors and entrepreneurs in the industry.

The boundaries of business are constantly blurred.

A few years ago, cross-border "robbery" was a hot word. It has not been mentioned in recent years because this situation does not exist, but because this situation has appeared too much, people have become accustomed to it. In the Internet era, some companies have already integrated some scenes. For example, you can see that the most important image data company in the world is Taobao. Taobao platform only provides pictures and videos of some products, and does not sell goods, but only matches transactions because of the combination transaction. A third-party guarantee is required for Alipay and later ant Jinfu company. If time goes by, most people think that the retail platform should sell the most goods at Wumei Supermarket, Yonghui Supermarket instead of Jingdong and Taobao (the two are different). No one can think of Alipay (or Ant Financial), which is made for selling small commodities, and now penetrates into various fields such as insurance, wealth management, medical care, and transportation.

Now that the double eleven has just passed, I have no intention to inquire and extract all kinds of data. I believe that the words “net red economy” and “community economy” are no strangers, and they are a common field of landing, based on personal brands. With the trust of the community, it is becoming more and more important to generate more and more consumer actions. Fast-selling products company or 2C company, before the movie star endorsement, because the movie star has a reputation, can bring traffic and attention, but the star's job is acting, even with the environmental ambassador, the title of the cultural ambassador may not be sold With a direct relationship, the conversion rate is slowly weakening, and it is impossible for a new form of startup to find a celebrity endorsement – ​​it is better to find a red person who directly evaluates the product to sell the goods. For example, selling lipstick, looking for someone who is not looking for a vibrating voice shouting "amazing" guy to sell. Of course, there is a basic business logic in it. If you open a company, you want to invest a lot of advertising expenses, and the effect of the celebrity endorsement cannot be quantified. Or you can find someone directly, how much you sell, I give How much is your commission, how much more work you have. Of course the latter, at least you don't affect my cash flow, and you can quantify the results. There are a lot of details in it, but it makes sense logically. As the public entertainment comes up, the actor's pay and the cost of the acupoints increase, the stars no longer rely on advertising revenue, and the bond between the movie star and the commercial company is getting thinner and thinner.

These are just some examples of changes in business models. In the blockchain and digital currency industries, the speed of integration is faster than before, and the boundaries are blurred until no one feels that practitioners are crossing the border because they cannot see the boundaries and cross the boundaries.

Wallet companies, if they have hundreds of thousands of registered users, will call themselves "digital asset banks," but the role of banks is mainly deposits and lending. In fact, it is also imperative that digital currency wallets begin to participate in DEX (distributed exchanges) and are doing it. Since the centralized exchanges always have various problems, it is better to just match the transactions and distribute the assets. If you used my wallet, then you should continue to put them in your wallet. Convenient and natural, the wallet is not just a bank, but a bank + exchange.

Centralized exchanges are not just traditional securities or stock exchanges. The process of the currency is subject to review. This is the work of the CSRC. After the currency is settled, it is necessary to quantify the transaction. This is the work of market value management; Chenggong chain, this is the work of the chain chain public chain project party; the institution that has hatched the project after the transaction is done, this is the work of investment institutions such as vc; the relevant departments of the exchange have privately reached an agreement to directly incubate the project on their own This is the work of the project side. Centralized exchanges are more likely to be more efficient because of their centralization efficiency, and their combat power is fast. As long as they run, these directions will gradually penetrate.

The capital side is not a traditional investor. Traditional VC venture capital or angel investment, etc., tend to focus on one area, or arbitrage after the next few rounds of financing, or after 3-7 years, some of the companies invested are good to go to NYSE or Nas Dak knocked on the clock and arbitrarily withdrew. Tokenfund (Digital Money Investment Fund) or currency investment institutions are different. There is no need to go public. After the currency is issued, it can be completed in a short period of time. In order to maintain your reputation and lock the currency, you can continue to be high. For profit, investors often have a one-to-two market linkage. This is why the tokenfund company often has a quantitative trading team or a husband-invested wife to quantify the market value management, the primary market has done, and the secondary market has also done. Because of its expertise in managing the secondary market, tokenfund also invests in incubating a bunch of exchanges. It seems to be irrelevant. In fact, it is inextricably linked. My project is smooth in my own project, and it is consistent with the investment of the centralized exchange. Tokenfund=Investment Banking + Incubation + Primary Market + Secondary Market.

The public chain team is called the project side (the project side does not have to be a public chain, the public chain project team belongs to the project side). Once it is done well, it will use its own public chain to do DEX decentralized trading. Of course, a team with a slightly weaker technology is investing or incubating an exchange. Due to the need for publicity, some project parties or related parties of the project side, such as a mining machine company of minerals, will invest in incubating a media platform and let the media promote it for themselves. The project side also penetrated the exchange and media fields.

The media or the community , collectively referred to as the media from the media or media platforms, has many good media standards, which can be fair, fair, and open. It can be technically strong or thorough in science or life, but in the final analysis, it is accurate traffic. Whether it's content media, social media, fan economy or traffic community, etc., the final strength depends on the accuracy and scale of traffic. No matter what digital currency wants to sell, there is a lot of cooperation with the community and the media, so the media has become an e-commerce platform such as Alibaba. Since the goods on the e-commerce platform are mostly manufacturing products, it is impossible for them to Responsible for production and supply, so the traditional e-commerce platform does not have the idea of ​​making its own products. For example, Jingdong does not make air conditioning, and it is still Gree. However, the digital currency industry is not this logic, it sells virtual things, and the marginal cost is low. Therefore, the media can sell their own projects, and the community leaders send their own projects. This is very common, and the natural development of business will be like this. Because any project party needs traffic, and the exchange community may not be able to bring traffic to itself, and community leader KOL has accurate traffic, so if community leaders open exchanges, is it OK? Commercial promotion has a natural advantage. Therefore, the media is at least equal to the e-commerce + investment bank underwriting department.

There are many examples of this, such as network security companies , in addition to network attack and defense, optimized for code review, can also be developed into the project side, technical team rating agencies and product promotion departments. Moody's is a securities rating agency and cannot directly improve the goodness of securities. However, after the network security company, such as a fog technology, auditing the technical code, it can also judge the code level, just like the doctor said that the athlete is in good health and is not cured. Treatment can be rated, directly affecting the betting market outside the sports field. The doctor keeps professional and does not work as an athlete for the time being. However, in the previous article, the referee has played the game, and the doctor can do a lot of things. Since the biggest problem with the exchange is security, you become the most famous security company, and you incubate an exchange with a high degree of trust.

You can see the above subdivisions, the exchange seems to be able to do everything, and all other areas can be exchanges, blooming everywhere. Why do so many people want to be an exchange, why the exchanges are endless, more than the project side. You can find the answer from this logic.

Blockchain is a kind of thinking innovation, which combines cryptography, computer science, economics and other disciplines. Since the birth of Bitcoin, it has become a matter of payment and settlement, the boundary of traditional industry or Internet industry. Feeling, extremely weak in the blockchain field, according to normal logic, the evolution of this business landscape is irreversible.

Because the pattern has changed, we cannot use traditional thinking to do new business, nor can we stick to the routine to make new investments. I can't say whether this is good or bad, but it is a game of evolution and survival of the fittest.