On the morning of January 3, the second debate of SheKnows's final debate at the end of the year kicked off. The theme of this debate was "Talking about bubble discoloration?" Layout of blockchain, capital will never sleep! ". Tian Hongfei, founding partner of Yuanwang Capital, said from the perspective of the development of the Internet, the Internet has experienced 1.0 portals to resolve information asymmetry, 2.0 to real-name social networks, to payment and logistics-driven e-commerce and o2o, to the Industrial Internet. The development of the blockchain also needs to experience a completely virtual token economy system. To the real economy on the chain, the on-chain requires a credible institution to complete asset mapping and custody, as well as digital fiat currency and digital identity authentication infrastructure. The construction of these two infrastructures has not yet been completed, which requires the government to do. "I judge the project based on whether the value creation system is closed-loop and whether the on-chain system is credible." Babbitt Note: Add the micro signal btczs001 or btc_11 to watch the live broadcast.