There are too many hot events in the blockchain field in 2019. When each hot event occurs, the entire industry will generally overestimate the impact of the event, but when we review the 2019 of the blockchain, we will find that it can really There are not many events with far-reaching consequences.
After sorting out various hot events in 2019, Zero One thinks that the development of the blockchain industry in 2019 can be summarized by ten key words.
- Gray scale increased bitcoin to 285,000, Wall Street capital is "flooding" into the currency market?
- Xinhua News Agency looks forward to 2020 "black technology": including blockchain, private space travel, etc.
- Why has Shenzhen become a test field for digital currency innovation?
- High-quality asset shortage, four-step analysis of whether digital assets are independent of traditional market conditions
- VeChain Foundation repurchase wallet stolen, $ 6.4 million missing
- After the large enterprises enter the market, can 2020 be the year of the outbreak of the blockchain?
On June 18, 2019, Facebook released the Libra white paper, which immediately caused a heated discussion around the world. Libra's vision is to become a universal super-sovereign digital currency. At the beginning of the release of the white paper, it attracted giants such as Visa, Mastercard, PayPal and Uber. Especially considering that Facebook has a base of more than 2.4 billion social network users worldwide, many people believe that Libra will have an immeasurable impact worldwide if it is released in 2020.
Considering the uncertain impact Libra may bring, many countries have expressed resistance to it. In July 2019, the U.S. House of Representatives and the House of Representatives held several hearings on Libra, which Facebook plans to release; in September 2019, France and Germany reached an agreement to boycott Libra.
In addition, in October 2019, giants such as PayPal, Visa, Mastercard have announced their abandonment of participation in Facebook's Libra project, which adds a lot of uncertainty to Libra's prospects.
DCEP is the abbreviation of Digital Currency Electronic Payment. At the same time, DCEP is also a legal digital currency that has not been issued by the People's Bank of China. From the literal meaning of English, China's legal digital currency is mainly an electronic payment method.
Since 2014, the People's Bank of China has started the research on legal digital currency, and it has matured by 2018. Since August 2019, the People's Bank of China has revealed more news about China's legal digital currency, DCEP: On August 2, the central bank held a video conference to make arrangements for key tasks in the second half of 2019, mentioning "accelerating the promotion of China's legal digital Currency R & D pace. "
On August 10th, Mu Changchun, then Deputy Director of the Payment and Settlement Department of the People's Bank of China, gave a keynote speech on fiat digital currencies at the Yichun Forum of Forty People's Bank of China and said, "Beginning last year, relevant personnel of the Digital Currency Institute did Related system development is already 996. "
On August 21, the official WeChat public account of the central bank published the full text of Mu Changchun's speech on digital currencies. A simultaneous publication by Fan Yifei, deputy governor of the People's Bank of China, was published in January 2018. In the article "Several Considerations on Currency", the ideas revealed by the two are highly consistent, and outline several important characteristics of the central bank's digital currency: at this stage, the central bank's digital currency is M0 (cash) replacement, not M1, M2 replacement; The central bank does not issue digital currency directly to the public, and will adopt a two-tier operating system, that is, the People's Bank of China first exchanges digital currency with banks or other operating institutions, and then these institutions exchange with the public. In the process, it adheres to a centralized management model.
At a series of press conferences to celebrate the 70th anniversary of the founding of the People's Republic of China on September 24, Yi Gang, President of the People's Bank of China, stated that there is no timetable for the launch of the central bank's digital currency, and there will be a series of research, testing, pilots, evaluations and The risk prevention process needs to be done.
The significance of DCEP is that it is not the digitization of existing currencies, but a replacement for M0. It greatly reduces the dependence of the transaction on the account, which is conducive to the circulation and internationalization of the RMB. At the same time, DCEP can realize the real-time collection of data such as currency creation, bookkeeping, and flow, providing a useful reference for currency investment and the formulation and implementation of monetary policies.
3.10 · 24 speech
On the afternoon of October 24th, the Political Bureau of the CPC Central Committee conducted the eighteenth collective study on the current status and trends of blockchain technology development. The General Secretary of the CPC Central Committee Xi Jinping emphasized during the study that the integrated application of blockchain technology played an important role in new technological innovation and industrial transformation. We must regard blockchain as an important breakthrough in independent innovation of core technologies, clarify the main attack direction, increase investment, focus on overcoming a number of key core technologies, and accelerate the development of blockchain technology and industrial innovation.
After the 10.24 speech, blockchain has ushered in new development opportunities in China. Related support policies have been introduced in various places. The application of blockchain in China has begun to accelerate, but at the same time, the concept of blockchain in the market Different hype and fraud have occurred, and regulatory authorities in various places have begun market rectification work, and the heads and staff of multiple virtual currency exchange platforms have been taken away for investigation. On November 13, the official website of the People's Bank of China also issued an announcement to clarify that at present, the so-called legal digital currency issuance on the Internet, as well as the behavior of individual institutions launching "DC / EP" or "DCEP" on the asset trading platform in the name of the People's Bank of China. , Which may involve fraud and MLM, the general public is requested to raise their awareness of risk, not to believe in credulity, and to prevent damage to their interests.
Blockchain is still in the exploratory stage at the application landing level. Although there is no commercial application with great influence, DeFi is undoubtedly the biggest highlight of blockchain applications in 2019. DeFi is also known as "decentralized finance" or "distributed finance", that is, the use of decentralized technology to upgrade and transform traditional financial services and services, such as mortgages, loans, and transactions based on blockchain and smart contracts.
With the development of the Internet and computer technology, user needs and the development of financial services are constantly changing. DeFi has ushered in a new era of opportunity in this context. But at the same time, we also see that DeFi still needs to solve many problems in order to truly prosper and get widespread and in-depth application. The root of these problems is that there are still many problems to be solved in distributed technologies including blockchain, the transition costs from traditional finance to distributed finance need to be addressed, and the opinions of the regulators cannot be ignored.
5. Online Information Office for the record
In March and October 2019, the National Internet Information Office issued two batches of blockchain information service names and filing numbers. The first batch of 197 plus the second batch of 309 block totaling 506 blockchain service projects have obtained the filing qualification of the Internet Information Office.
In February 2019, the National Internet Information Office issued the Regulations on the Management of Blockchain Information Services. According to requirements, blockchain information service providers should indicate their filing positions on prominent Internet sites and applications that provide services to the outside world. Numbering. Filing is only a registration of the relevant information of the main blockchain information service, and does not represent the recognition of its institutions, products and services. No institution or individual may be used for any commercial purpose. The introduction of the blockchain information service filing system marks that China's blockchain industry has begun to develop in a standardized direction.
In 2018, the American Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), proposed the establishment of Bitcoin futures and digital asset trading platform Bakkt. The Bitcoin futures trading platform Bakkt was originally planned to go online at the end of 2018, but due to related technical service preparations and regulatory compliance issues, its launch time has been delayed.
In July 2019, the Bakkt platform finally opened the first round of trading tests, but its mediation with the US regulators is still going on at the same time, in order to obtain the permission of the regulator. At 20:00 U.S. Eastern Time on September 22, 2019, Bitcoin futures trading platform Bakkt officially launched trading.
Affected by the rise in the price of bitcoin, Bakkt's bitcoin futures transaction volume on October 9 ushered in an explosive increase. On the same day, 224 bitcoin futures transactions were realized, an increase of nearly 800% over the previous trading day.
Beginning in 2018, the relevant news of the Bakkt Bitcoin Futures Trading Platform has been the focus of the cryptocurrency circle. Most people believe that the launch of Bakkt will help push the price of Bitcoin to a new high.
2019 is the year when stablecoins attract the most attention in the world. First of all, the giants have launched different institutional stablecoins based on their own industry conditions. Among them, JPM Coin announced by JP Morgan Chase is the representative. Other similar institutions are expected to be stable. The main body of the coin also includes the blue giant IBM and retail giant Wal-Mart. The actions of several giants with global influence have injected a boost to the blockchain and digital asset industries, leading the tide of mainstream companies using blockchain technology to transform their service systems
In addition, affected by Facebook's launch of Libra, governments and central banks have begun to study their respective "national stablecoins." According to the statistics of the Zero One Think Tank on the attitude and status of digital currencies of 29 central banks, as of the end of October 2019, 6 central banks have issued digital currencies, 8 are planned to be launched, 9 are under research, and 2 are not considered for the time being. , 3 clearly opposed the central bank digital currency.
After the official launch of Ethereum, it has undergone several upgrades. According to the planning of its founding team, the development path of Ethereum is divided into four stages, namely: Frontier, Homestead, Metropolis and Serenity. Each stage will be upgraded through a hard fork, and each stage of the upgrade is to introduce more features and fix problems.
There are two major upgrades for Ethereum in 2019: In March, the Ethereum Constantinople fork upgrade was completed. The performance and security changes of this upgrade mainly include the performance optimization of smart contract execution and the provision of contract updates. Cheaper storage, pave the way for two-tier network expansion solutions such as state channels, and modified Ethereum economic policies; In December, the Ethereum Istanbul upgrade was completed. The key technical changes involved in the upgrade included the introduction of sharding technology and lower GAS Cost measures, improving on-chain interoperability with privacy coin Zcash and smart contracts that allow more creative features.
According to the plan of the Ethereum founding team, the Istanbul upgrade is a milestone in the evolution of Ethereum to 2.0. The future Ethereum 2.0 will complete the consensus mechanism conversion from PoW to PoS. The industry generally believes that the conversion of Ethereum to 2.0 will be a long process. .
Telegram is an instant messaging software founded in 2013 by Russian brothers Nikola Dulov and Pavel Dulov. In 2019, when Facebook's digital currency Libra was repeatedly blocked by government regulators, Telegram was also preparing to launch its own digital currency, Gram. In October, Telegram's app updated terms of service and officially introduced Grams Wallet.
Telegram's plan to promote the issuance of cryptocurrencies has alerted the U.S. SEC and issued a temporary restraining order on Telegram's coin issuance in October, suspending its cryptocurrency Gram to be issued at the end of October. The U.S. SEC insists that Telegram issues Gram And the issuance of securities undoubtedly needs to be regulated by relevant regulations. On October 17, Telegram emailed investors to postpone the launch of its TON blockchain project, pushing the deadline from October 30, 2019 to April 30, 2020, and stated that if most investors do not agree to the extension The company will return 77% of the investment funds. But most investors voted against the refund, delaying the tentative sale date by half a year.
IEO, the full name of "Initial Exchange Offerings", refers to the fact that in addition to the early private placement of the project by institutional participation, subsequent public offerings and online transactions are completed on the same exchange. The concept of IEO received great attention from the market in the first half of 2019. On January 28, 2019, Binance's first IEO project BTT was launched. In 15 minutes, 60 billion tokens were sold out. On January 31, BTT officially opened trading on Binance, and the opening price rose nearly 5 times compared to the previous one. Subsequently, other exchanges also started to follow suit and launched their own IEO services. On March 7, Huobi Global announced that it would launch the Top Network project on March 26 through the preferred channel “Huobi Prime”. The CEO of OKEx also posted a Weibo on March 12, saying that the OKEx Utility Token sales platform "OK Jumpstart" is ready and ready to go online.
The core of the IEO model is that the exchange uses its own credit to strongly endorse the project party, and to a certain extent, transfers risks to itself. Several major exchanges hope to use project parties selected according to their own rules to create a relatively stable secondary trading market for users, so as to attract other exchanges or new users to enter the market, increasing their own influence and trading depth. For the project party, not only can I get financing through IEO, but also endorsement through the exchange, increase traffic and gain marketing.