Blockchain Industry Weekly Report | Central Bank Officially Releases "Technical Specifications for Financial Distributed Ledger Security"

The report produced by the Institute of Fire currency block chain, reports Published February 24, 2020, Author: Yuan Yuming, Rui

 

Summary:

 

Domestic hotspots:

1. Ministry of Industry and Information Technology: support the use of big data, blockchain and other technologies to improve the intelligent logistics system.

2. Guangzhou Artificial Intelligence and Digital Economy Pilot Zone Program: It will promote the innovative development of the blockchain industry. The Guangdong Provincial Leading Group for Promoting the Construction of the Guangdong-Hong Kong-Macao Greater Bay Area recently issued the "General Plan for the Construction of the Guangzhou Artificial Intelligence and Digital Economy Pilot Area" and officially released it on the official website of the Guangdong Development and Reform Commission today.

3. Hangzhou relies on the "cloud" platform to take advantage of information technology such as blockchain to fight the "epidemic."

4. The Central Bank officially released the "Technical Security Specifications for Financial Distributed Ledgers."

5. Huobi China continues to exert its efforts on "Blockchain +" and will launch the Blockchain BaaS platform. Huobi China announced that it will launch a self-developed blockchain BaaS platform, which will be used as a carrier to create a blockchain industry application ecological cluster.

Industry applications:

1. Indian IT giant Ma Hengda Technology cooperates with the local government to launch a blockchain accelerator. Mahindra Technology, an IT subsidiary of Indian conglomerate Mahindra Group, is launching a blockchain accelerator in cooperation with the government of Telangana in the south of the country.

2 . The European Space Agency funds a blockchain project to record satellite data. The European Space Agency (ESA) is a major intergovernmental organization dedicated to space exploration and is funding a new blockchain project aimed at promoting mining in the world.

3. Cloud giant Microsoft Azure embraces commercial blockchain. Microsoft announced that it has officially introduced the Lition blockchain solution into its Azure cloud market. .

 

International policy:

1. The Brazilian central bank promises that instant payment platforms will compete with cryptocurrencies .

2. Israeli Attorney General: Israeli banks should not refuse to provide services to cryptocurrency companies. Israeli Attorney General Avichai Mandelblit said Israeli banks should not refuse to provide services to companies involved in cryptocurrencies.

3. The Russian central bank pegs crypto trading to currencies. The Russian Central Bank (CBR) has issued a new set of rules for suspicious transactions. This update roughly categorizes any cryptocurrency-related transactions as potential money laundering risks.

Bitcoin hashrate has risen this week. Bitcoin mining difficulty this week has increased, the average size of Bitcoin blocks this week has dropped, and the average number of block transactions has dropped; Bitcoin miner fees have fallen this week;

According to the data calculated by blockchain.info, as of February 23, the total number of blockchain wallet users reached 46097716, an increase of 0.37% from last week.

 

ELF is the most active github code project this week. From February 17, 2020 to February 23, 2020, aelf was the most active in github code, with a total of 134 commits this week.

 

A total of 3 investment and financing projects in the blockchain industry were counted this week. The black box data obtained the strategic investment of “China Venture Capital”, Yuanjie won the strategic investment of “Nova Club, Consensus Lab” and BCB Blockchain received the strategic investment of “GBCI Ventures”.

 

Report body

 

1. Blockchain Weekly News

1.1 Domestic Hotspots

1. Ministry of Industry and Information Technology: support the use of big data, blockchain and other technologies to improve the smart logistics system

 

The General Office of the Ministry of Industry and Information Technology issued a notice on the use of next-generation information technology to support epidemic prevention and control and resume work. The notice pointed out that supporting productive service companies such as Internet transportation, logistics, and express delivery were the first to resume work and resume production. Support industrial e-commerce companies and logistics companies to collaborate efficiently, use the Internet, big data, blockchain and other technologies to improve the intelligent logistics system, open up the flow of production and living materials, and ensure the effective supply of production materials and daily necessities.

2. Guangzhou Artificial Intelligence and Digital Economy Pilot Zone Program: Will Promote the Innovation and Development of the Blockchain Industry

 

The Guangdong Provincial Leading Group for Promoting the Construction of the Guangdong-Hong Kong-Macao Greater Bay Area recently issued the "General Plan for the Construction of the Guangzhou Artificial Intelligence and Digital Economy Pilot Area" and officially released it on the official website of the Guangdong Development and Reform Commission today. The plan proposes that a Guangzhou artificial intelligence and digital economy pilot zone with Pazhou as the core, the Pearl River as the link, and industrial integration and development in the surrounding areas will be built in Guangzhou. Promote the agglomeration and development of the digital industry, the innovative development of the blockchain industry, and the digital transformation of key industries.

3. Hangzhou relies on the "cloud" platform to take advantage of blockchain and other informatization means to scientifically fight "epidemic"

 

At present, the prevention and control of pneumonia outbreaks of new coronavirus infection is at a critical stage. In order to fully grasp the information of Hangzhou enterprises' resumption and production resumption time, number of resumption workers, epidemic prevention measures, purchase inspection, production control, etc., and to establish archives of resumption and resumption enterprises during the epidemic prevention and control period, Hangzhou Market Supervision Bureau relies on the “Food Safety Supervision Cloud Platform” Make full use of big data analysis, blockchain and other information methods to actively implement "Internet food production supervision" and build a "not-to-see" information communication bridge.

4. The central bank officially released the "Technical Security Specifications for Distributed Financial Ledgers"

 

Recently, the Financial Industry Standards for Financial Distributed Ledger Technical Security Standards (JR / T 0184-2020) was officially issued by the People's Bank of China. The standard specifies the security system of financial distributed ledger technology, including basic hardware, basic software, cryptographic algorithms, node communication, ledger data, consensus protocols, smart contracts, identity management, privacy protection, regulatory support, operation and maintenance requirements, and governance mechanisms, etc. aspect. The standard is applicable to institutions engaged in the construction or service operation of distributed ledger systems in the financial field. This standard is under the centralized management of the National Financial Standardization Technical Committee, and was proposed and drafted by the Digital Currency Research Institute of the People's Bank of China. Participate in drafting together. The standard has been extensively solicited for opinions and demonstrations, and has passed the review of the National Financial Standardization Technical Committee.

For detailed standards, please log on to the full-text financial standards open system http://www.cfstc.org/bzgk .

5. Huobi China continues to exert "Blockchain +" to launch blockchain BaaS platform

 

On February 20, Huobi China announced that it would launch a self-developed blockchain BaaS platform, which will be used as a carrier to create a blockchain industry application ecological cluster. The market's recognition of blockchain functions and applications is getting higher and higher, but excessive technical thresholds are becoming a hindrance to development. The BaaS (blockchain as a service) platform is becoming a trend as an important service form to accelerate the landing of the blockchain in various industries, especially the deep integration with the entity. With the upsurge of blockchain, blockchain companies still face many problems in the application of technology, such as the lack of standardization of blockchain technology, and the slow and complex on-chain of blockchain business. Fan Jin, head of the Huobi China Industrial Empowerment Center, said that the launch of Huobi China's BaaS platform can better provide one-stop "blockchain + industry" services for enterprise customers.

1.2 Industry Applications

1.Indian IT giant Ma Hengda cooperates with local government to launch blockchain accelerator

 

Mahindra Technology, an IT subsidiary of Indian conglomerate Mahindra Group, is launching a blockchain accelerator in cooperation with the government of Telangana in the south of the country. According to the Economic Times report on February 19, the two parties hope that this accelerator will become the "torch relay" of the national accelerator in the future. This new "T-Block Accelerator" is designed to nurture blockchain startups that provide the technology with powerful use cases in the real world and promote growth across the industry. The innovation management company IBC Media will run this accelerator project, which was developed after the Telangana Government and Mahindra Technology signed a Memorandum of Understanding (MoU) in 2018.

2. European Space Agency funds blockchain project to record satellite data

 

Although Bitcoin (BTC) may not be ready for the moon landing, its underlying blockchain technology is increasingly being adopted in space. The European Space Agency (ESA) is a major intergovernmental organization dedicated to space exploration and is funding a new blockchain project aimed at promoting mining in the world. As a well-known contributor to the application of blockchain technology, the European Space Agency and the Scottish startup Hypervine have jointly funded a project to increase the transparency of mining data by combining satellite data and blockchain. The plan is to record satellite-sourced information on a distributed ledger, providing mining companies with credible and coordinated data sources, replacing paper-based data sources that need to be cross-checked by multiple teams in different locations. Since mining companies can take months to get the correct data from usually scattered sources, blockchain-powered satellite database projects are also designed to reduce mining costs.

3. Cloud giant Microsoft Azure embraces commercial blockchain

 

Lition is a commercial blockchain project. Microsoft announced on February 18 that it has officially introduced the Lition blockchain solution to its Azure cloud market. This makes Lition one of the few public / private blockchains currently supported by major cloud service providers such as Microsoft. Microsoft has also become the first company to introduce blockchain to the cloud, and continues to maintain its leading position in the field of blockchain applications. The announcement states that by integrating the Lition blockchain into Azure, global enterprise customers of Microsoft Azure can develop, test and deploy Lition sidechains and applications by simply clicking a button on the platform. Dr. Richard Lohwasser, Chief Executive Officer of Lition, added: "Lition is committed to providing access to the blockchain for all institutions and organizations. We believe that the most seamless and integrated solution is to be achieved The solution is the key to bridging the widely used technology gap. For our customers, Azure will be a huge value asset. "

1.3 International policy

1. Brazilian central bank promises instant payment platform to compete with cryptocurrency

 

The Brazilian Central Bank (BCB) has announced a plan to launch a new near-instant payment system in November. The platform is called the Brazilian Instant Payment Plan (PIX) and will facilitate peer-to-peer and business-to-business transactions in 10 seconds or less via mobile phones, online banking or certain specific ATMs. According to local media Livecoin, BCB president Roberto Campos made it clear through a video conference at the São Paulo press conference that the platform is designed to compete with distributed ledger-based payment systems. Campos said the PIX platform will be the central bank's top priority in 2020. He added that PIX would be more efficient and "help to eliminate people's need for material wealth because it would bring huge costs to society".

2. Israeli Attorney General: Israeli banks should not refuse to provide services to cryptocurrency companies

 

Israeli Attorney General Avichai Mandelblit said Israeli banks should not refuse to provide services to companies involved in cryptocurrencies. Mandelblit told the Tel Aviv District Court that banks should not stop providing financial services to all cryptocurrency companies, but should carefully examine indicators of money laundering risk or other illegal financial practices in every case. Israel's Global News Agency reported on February 19 that Mandblitt's position was against the views of the Israeli central bank. In 2019, some Israeli banks froze customer accounts that accepted cryptocurrency transfers. According to Cointelegraph, the move means that some Israeli Bitcoin (BTC) investors will not be able to pay taxes because banks will not accept their deposits.

3. Russian central bank links crypto trading to currency

 

According to a report by the Russian financial publication "RBC Daily" on February 17, the Russian Central Bank (CBR) has issued a new set of rules for suspicious transactions. This update roughly categorizes any cryptocurrency-related transactions as potential money laundering risks. The bank issued an updated 375-P directive listing all signs of suspicious activity that may be related to money laundering. This is the first update since the initial regulations were introduced in 2012. The rulebook was developed in cooperation with the Federal Financial Supervisory Authority (Rosfinmonitoring). A central bank representative explained that this was done "to add new plans for the implementation of unconventional operations in view of modern developments in financial markets." The governor of the central bank has previously stated that possible risk factors should be reduced. As in other countries, if a bank or other financial service provider considers certain transactions suspicious, they may freeze the suspect's account or close it completely in severe cases.

2. Technical capability analysis

 

2.1 Analysis of Difficulty and Benefits of Cryptocurrency Production

 

Bitcoin hashrate has risen this week. From February 17, 2020 to February 23, 2020, the average hashrate of the entire Bitcoin network was 111.7EH / s, which was an increase of 3.52% from the previous week.

 

Bitcoin mining difficulty has increased this week. As of February 23, 2020, Bitcoin's mining difficulty remained at 15.54T this week, up 0.26% from last week.

 

The number of blocks generated by the entire Bitcoin network rose 2.74% in the week, and the top five rankings have changed from last week. The number of blocks generated by the entire network of Bitcoin in the past week was 1013 blocks, an increase of 2.74% compared to last week. , Poolin, BTC.com, AntPool, ViaBTC produce blocks 174, 171, 135, 120, 73 respectively, accounting for 17.18%, 16.88%, 13.33%, 11.85%, 7.21%, and computing power are 19.22 EH / s, 18.89EH / s, 14.91EH / s, 13.26EH / s, 8.06EH / s.

2.2 Activity Statistics

 

This week, the average size of Bitcoin blocks decreased, and the average number of block transactions decreased . According to the data calculated by blockchain.info, from February 17, 2020 to February 23, 2020, the average size of each block of Bitcoin this week was 1.09MB, a decrease of 4.39% from the previous quarter, and the average number of transactions per block was 2257 times, down 4.45% from the previous month.

The average number of unconfirmed transactions in Bitcoin this week fell by 48.27%. As of February 23, 2020, the average number of unconfirmed transactions in Bitcoin over the 7 days was 5,474, a decrease of 48.27% from the previous quarter.

Bitcoin miner fees fell this week and Ethereum miner fees fell. As of February 23, 2020, Bitcoin's average miner fee per day was 0.589USD, a 34.41% decrease from the previous month, and Ethereum's miner fee was 0.132USD, a 33.33% decrease from the previous month.

The number of Bitcoin verification nodes rose month-on-month. As of February 23, 2020, the number of Bitcoin verification nodes reached 10,813, an increase of 3.14% from the previous month. Among them, there were 2270 nodes in the United States, accounting for 20.99%; Germany had 1,853 nodes, accounting for 17.14%; China ranked ninth, with 254 nodes, accounting for 2.35%.

Bitcoin users this week are up from last week. According to the calculation of blockchain.info data, as of February 23, 2020, the total number of blockchain wallet users reached 46097716, an increase of 0.37% from last week.

ELF is the most active github code project this week. From February 17, 2020 to February 23, 2020, aelf was the most active in github code, with a total of 134 commits this week.

3. Investment and Financing Trends in the Primary Market

A total of 3 investment and financing projects in the blockchain industry were counted this week . The black box data obtained the strategic investment of “China Venture Capital”, Yuanjie won the strategic investment of “Nova Club, Consensus Lab” and BCB Blockchain received the strategic investment of “GBCI Ventures”.

Huobi Blockchain Application Research Institute

about us:

The Huobi Blockchain Application Research Institute ("Huobi Research Institute") was established in April 2016. Since March 2018, it has comprehensively expanded research and exploration in various areas of the blockchain. The main research content includes the blockchain field. Technology research, industry analysis, application innovation, model exploration, etc. We hope to build a research platform covering the complete industrial chain of the blockchain, provide a solid theoretical foundation and trend judgment for the blockchain industry people, and promote the development of the entire blockchain industry.

Huobi Blockchain Industry Weekly Report is a weekly report on the blockchain industry launched by Huobi Research Institute. The report mainly includes a review of the overall market, the performance of major projects, the analysis of technical capabilities such as the status of digital asset production and code updates, as well as a detailed review and review of blockchain industry news and the development of primary market projects. Investors grasp the overall pulse of the market in a timely and fast manner, keep up with development trends, and understand the latest developments of the industry in a variety of analytical dimensions.

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