At 23:19 Beijing time on December 13, Financial One Account was officially listed and traded on the New York Stock Exchange, with the stock code OCFT, the issue price of $ 10, the opening price of $ 10.51, the current price of $ 10.17, and a total market value of $ 3.649 billion.
Financial OneAccount was established at the end of 2015, and it is one of the four "unicorns" that Ping An has hatched together with Lufax Holdings, Ping An Good Doctor, and Ping An Medical Insurance Technology.
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Financial OneAccount is positioned as a technology-as-a-service business cloud service platform to provide financial institutions with "technology + business" solutions. At present, Financial OneAccount has more than 3,700 institutional customers, covering all mainstream banks in China, 99% of city commercial banks, and 46% of insurance companies, with more than 100 million users.
Blockchain becomes core technology, with 44,000 nodes worldwide
The official website shows that artificial intelligence, blockchain and big data are the three core technologies of Financial One Account. Among them, in terms of blockchain, One Account Chain (FiMAX) is a financial blockchain product with independent innovation, multiple intellectual property rights, and superior performance.
According to the 2018 financial report released by Ping An Group, the One Account Chain (FiMAX) blockchain technology has the exclusive grasp of zero-knowledge verification technology in non-monetary scenarios. It can still achieve or exceed the performance of traditional databases in national secrets and zero-knowledge environments It can achieve a high throughput of 50,000 transactions per second while maintaining a low latency of less than 0.05 seconds.
For how to achieve such a high TPS, Lu Yifan, general manager of the blockchain research and development department of One Account, once explained in an interview with Babbitt in June this year. For details, please refer to " Interview with Lu Yifan: Valuation of $ 7.5 billion How does the beast do blockchain? ".
The acquisition of technology cannot be separated from heavy investment. According to the prospectus, in 2017, 2018, and the first nine months of 2019, the financial R & D investment of 535 million yuan, 459 million yuan, and 641 million yuan, respectively, accounted for 92.32% and 32.49 of the current revenue. %, 41.26%.
One account chain FiMAX has been applied in five major ecological circles of finance, medical care, automobiles, real estate, and smart cities, with more than 20 landing projects. Well-known cases include Hong Kong eTradeConnect trade financing network and Tianjin Port Blockchain Verification Pilot Project.
In addition, Financial One Account has also independently developed the Blockchain-Network-as-a-Service (FiMAX BNaaS), a blockchain network as a service platform. The platform is based on the FiMAX S3C full encryption framework, which has high-throughput, low-latency, and privacy-free technology advantages. The platform provides enterprise users and developers with one-stop services such as blockchain network creation, management, operation, monitoring, and security, helping users achieve business breakthroughs and innovation.
With FiMAX and FiMAX BNaaS, Financial One Account has become the world's largest commercial blockchain platform. As of the end of December 2018, Financial OneAccount had provided services to 3,289 financial institutions. One account has more than 44,600 blockchain nodes, an increase of 225.5% compared to 2017.
Bloody listing, Sun Zhengyi again
According to the prospectus, the revenue of Financial OneAccount in the past two years has been strong. During 2017 and 2018 and the first nine months of 2019, the operating income of Financial OneAccount was 582 million yuan, 1.413 billion yuan and 1.555 billion yuan, respectively.
Behind the rapid growth of revenue, net profit has continued to lose money. In 2017 and 2018 and the first nine months of 2019, NetEase's net losses were 607 million yuan, 1.190 billion yuan and 1.049 billion yuan.
Regarding the reasons for its losses, Financial OneAccount attributed it to the initial stage of business development, which required a lot of expenses to develop and commercialize solutions.
However, the market does not seem to be buying it.
According to the official website of Financial OneAccount, the company completed a series A financing at the beginning of 2018 with a valuation of 7.5 billion U.S. dollars. The investors include Japan SBI and SoftBank. Based on the current market value of US $ 3.6 billion, the valuation has decreased by 52% compared to Softbank's investment.
The founder of Softbank is Zhengyi Sun, who became famous after investing in Alibaba in the First World War. However, it has recently encountered Waterloo frequently. Its investment-sharing giant Uber is currently down 36% from the issue price, and the shared office giant WeWork's valuation has dropped from $ 47 billion at the beginning of the year to $ 8 billion today.
However, Ping An Group did not care about the losses of Financial OneAccount.
As early as Ping An's 2017 performance meeting, Chen Xinying, then deputy chief executive officer, chief information officer and chief operating officer of Ping An of China, stated that Ping An of China follows five principles and four stages in incubating new technology business. The four major stages are: building a platform, gathering traffic, increasing revenue and profit. Currently, Financial One Account is in the middle of the second and third stages.
Chen Xinying also revealed at the time that Ping An of China will continue to invest at least 100 billion in the five aspects of AI, blockchain, artificial intelligence, cloud computing, and security in the future. It is reported that Ping An of China will invest 1% of its annual income into scientific and technological research and development.
According to the prospectus, Ping An Group provided loans of RMB 1.5 billion, RMB 4.963 billion and RMB 2.3 billion to Financial OneAccount in the first nine months of 2017, 2018 and 2019, respectively. At present, Ping An Group holds 39.8% of the shares in Financial OneAccount.
Ping An of China not only provides loan support for Financial OneAccount, but also provides business support. In 2017, 2018 and the first nine months of 2019, the revenue of Financial One Account from Ping An Group was 235 million yuan, 527 million yuan and 677 million yuan, respectively, accounting for 40.5%, 37.3% of the total revenue, 43.6%.
In addition, the two parties also signed a strategic cooperation agreement. According to the agreement, within 10 years after the completion of the listing of Financial OneAccount, Ping An of China held not less than 30% of the shares of Financial OneAccount. Currently, Ping An Group owns 39.8% of Financial OneAccount through Bo Yu Limited, making it the second largest shareholder of the company.
With Ping An's continuous blood transfusion, Financial One Account's business development after listing seems to have at least one more guarantee.
Expansion of Chinese stocks involved in blockchain business to 10
With the listing of Financial OneAccount, the number of Chinese stocks involved in the blockchain business has expanded to 10, with a total market value of more than 680 billion US dollars.
Note: Involved in this article refers to well-documented, not including emptying cannons, plutonium hot spots. Such as Renren.com, Ninth City, China Network Carrier Line, and many online loan companies.
Alibaba: the king of global blockchain patents, producing an average of 2 patents per day
According to IPRdaily, the number of blockchain patents published by Alibaba in 2017, 2018 and the first half of 2019 were 49, 155 and 322, respectively.
As of October 2019, the total number of Alibaba's blockchain patents has exceeded 1,000 and reached 1,005, which is more than the total of the next three. According to this calculation, Alibaba produces an average of 2.3 blockchain patents per day, ranking first in the world.
JD.com: the first in BATJ to open source the underlying platform of the blockchain
In March 2019, JD Chain, the underlying open source blockchain engine, became the first open source blockchain engine company among domestic Internet listed companies. On May 28, Baidu's self-developed underlying blockchain technology, XuperChain, was officially open sourced.
Baidu: Many products, rare explosives
Baidu's dense layout of blockchain started in 2018.
In early 2018, Baidu Search established the Baidu Blockchain Lab; in February, Baidu Wallet (later renamed Du Xiaoman Wallet) launched the "Leitz Dog" blockchain game; in April, the blockchain original picture service platform was launched ——Totem; In May, Baidu Encyclopedia was listed on the chain; On June 4, Baidu's "Super Chain" was released; On June 8, Baidu Finance (later renamed as Du Xiaoman) launched the Degree Universe; On June 13, Baidu Wallet was opened Internal testing of Baidu Oasis; In August, Baidu established the blockchain technology research and development company "Duchain"; In September, released the "Baidu Blockchain White Paper V1.0"; In October, Baidu established the Hainan Baidu Blockchain Lab, officially Publish the "super chain" system.
However, compared with the cases of Tencent's blockchain electronic invoices and ant blockchain commodity tracing, Baidu's blockchain products rarely leave people with too deep an impression.
NetEase: 3 block chain products come out, record list 0 selected
According to Gu Feiyong, the head of the blockchain business of NetEase, introduced at the "2019 NetEase Future Conference", NetEase launched a total of 3 blockchain products: Fuxi Tongbao, Netease Planet, and flag insertion. Obviously, this does not include blockchain projects that have died.
Fuxi Tongbao was jointly developed by Netease Planet and "Adverse Water Cold" in September 2018. At present, the solution uses alliance chain technology, but Netease pointed out that in the future, if the policy allows it, it will be converted into a public chain.
NetEase Planet, a value-sharing platform based on the blockchain ecosystem, was launched in February 2018.
The flag punch card is a mutual punch card community owned by NetEase. On October 31, 2019, inserting flags to punch cards published an article on the WeChat account saying that the blockchain was launched to punch cards.
None of the above NetEase products were selected into the list of domestic blockchain information service filing numbers issued by the State Internet Information Office. At present, the Cyberspace Office has issued two batches of lists, with a total of 506 items selected, and Baidu, Tencent and Alibaba (Ant Financial) are listed.
玖 Fu Shuke: Established a blockchain company, silent for 1 year
In June 2018, Wealth Group held a strategic upgrade conference and established AI and blockchain companies. Sun Lei, founder and CEO of Sun Rich Group, said at the scene: In the future, AI and blockchain will become the two major innovation areas of Sun Rich Technology. Among them, "One Chain Number Cloud" is a blockchain company. The conference site reached a cooperation with Goopal Group, the underlying technology research and development company of the blockchain. Since then, there is no more information on the actions of Fu Fu on the blockchain.
The official website of OneChain Cloud is also very concise, and has not seen the display of partners and landing scenes.
Jianan Technology: The first bitcoin mining machine, both blockchain and AI
As a significant Bitcoin mining machine manufacturer in the global market, it released the world's first ASIC chip-based Bitcoin mining machine in 2013, and Bitcoin mining has entered the supercomputing era.
However, the historical mission of the mining machine may soon end.
According to QKL123 data, Bitcoin's entire network computing power increased from 22.38 TH / s in 2013 to 93.04 EH / s today, an increase of 4.15 million times, and the price of BTC increased by 610 times during the same period.
Two points can be seen from the figure: First, computing power continues to increase, and prices will fluctuate greatly. The two showed a certain correlation. It is generally said in the industry that the price of a currency determines its hash power. Second, the growth of computing power is almost in a state of weakness, which is related to the Moore's Law of the chip. Mining chips range from the original CPU, GPU, FPGA to today's ASIC, from 55nm, 28nm, 16nm, 12nm to 5nm. The process has been continuously improved for miners to increase productivity while also pushing Moore's Law to a dead end.
It can be predicted that after the chip technology is approaching the limit, the production cost of the mining machine manufacturer cannot be further reduced. At this time, only hope that the price of Bitcoin continues to rise will attract more miners to purchase mining machines and expand sales revenue.
The question is: In the long run, the production cost of mining machines continues to rise. Will the price of Bitcoin always rise?
It is not difficult to see why Jia Nan Technology and Bitmain have opened up new business lines for artificial intelligence.
21Vianet: Founder's reputation overwhelms company, blockchain layout hidden
Founded in 1996 by Chen Sheng, 21Vianet is positioned as a telecommunications neutral third-party Internet infrastructure service provider in China. From the time of establishment, it was 3 years earlier than Alibaba, 2 years earlier than Tencent, and 4 years earlier than Baidu. Today, 21Vianet has a market value of 0.15% of Alibaba, 0.03% of Tencent, and 2.02% of Baidu.
From the market value point of view, it gives a feeling that the value of the underlying infrastructure of the Internet is not as good as that of Internet applications.
Compared with the chairmanship of 21Vianet, Chen Sheng is better known as the chairman of the Zhongguancun Blockchain Industry Alliance.
The Zhongguancun Blockchain Industry Alliance was established in 2016. With the support of the Zhongguancun Management Committee, Century Interconnection led the charge. In addition, 21Vianet participated in the establishment of the Light Load Infinite Group. In June 2017, Light Load Infinite Group and the Chancheng District Government of Foshan released the Zhixin City Plan and launched the IMI digital identity platform.
Thunder: Survival with Broken Arm, Shared Computing
Xunlei's layout of the blockchain started in 2017, and it was cut in with play currency, and then it was cut due to policy risks and completed ashore.
On October 12, 2017, Thunder announced that private cloud disk Wanke Cloud started mining. Users contributed idle uplink bandwidth and free storage to obtain rewards for playing Wancoin. On October 31, 2017, Thunder CEO Chen Lei announced All in Blockchain. In November 2017, Xunlei and Xunlei big data were inside. Thunder Big Data accuses Chen Lei of carrying out illegal issuance of guest currency, without using any blockchain technology. It is a scam that violates the documents of 7 ministries and commissions, uses illegal exchanges, illegal pyramid schemes, disguised ICOs, and illegal fundraising. In December 2017, Xunwancoin released an announcement that "playcoin" was officially renamed "Chainke". In January 2018, the China Internet Finance Association issued the "Risk Tips on Preventing Disguised ICO Activities", pointing out that it is represented by the release of Thunder "Chainke", a type of "Issuing Virtual Digital Assets with Mining Machines as the Core" (IMO) This model deserves vigilance and has hidden risks. In April 2018, Thunder Chain started technical testing. In June 2018, Xunlei Chain measured the function of the blockchain system of the Electronic Standard Institute. In September 2018, Xunlei sold Chain Link, Link Chain Mall, and Link Pocket to other services such as Thunder Link, Thunder Link Open Platform, Thunder Chain File System (TCFS) and other underlying technology businesses. Keyun and shared computing business based on Wanke cloud network.
Xinyuan Real Estate: real estate layout block chain, business suspected to be blocked
Xinyuan Real Estate has developed a blockchain by investing in Ruizhuo Investment.
In 2015, Ruizhuo Xitou was invested and established. In July 2016, Ruizhuo Xitou released the real estate blockchain application product "Fang Yixin". In April 2017, Ruizhuo Xitou and Jinshan Cloud jointly released the blockchain cloud platform "Jinshan Cloud-Xin Chain Alliance". In July 2017, Fangyixin signed a contract with Anjuke.
In 2019, news reports about Fang Yixin almost disappeared. Ruizhuo Xitou suspected to have established two branches-Ruichain Technology and Chuangchain Technology. The former launched the X-Bolt, the bottom-level closed-source platform of the blockchain, and three products, such as Access, Traceability, and Scorepoint, as well as a streaming advertising distribution platform, Stream Link Alliance. The latter uses Ruichain's blockchain technology to transform non-standardized real estate transactions into digital asset transactions. However, looking at the official website of Chuanglian Technology, it seems that this solution has encountered obstacles. No data is displayed on the digital real estate interface, and all information on the equity transfer page stagnates in April 2018.
In January 2019, the new house sales and service platform "Xinfang Chain" created by Chuanglian Technology based on X-Bolt alliance chain technology was unveiled. According to reports, Xinfangchain has listed the entire process of data from the development stage to viewing, selecting, subscribing, signing, inspecting, receiving, and moving in to ensure the authenticity of the information, but specific operating data has not been announced.