On the evening of February 27, the third lesson of Babbitt Industry Orientation Class continued. During the live broadcast, Hu Jie, a professor of practice at the Shanghai Advanced Institute of Finance, said that the core elements of a financial system are a credible ledger and stable currency. The failure of Bitcoin is "as a currency, it is unstable", and its value lies in "as a Asset, it is a limited edition digital relic ", its contribution lies in" as a demonstration, it is an algorithmic ledger ".
He further pointed out that the algorithmic ledger is the "heritage" of Bitcoin, which includes three levels of consensus accounting, equity tokens, and smart contracts. He emphasized that tokens are like a blank piece of paper, not a single piece of paper. Value, its essence is a kind of equity certificate, that is, a carrier representing specific rights and interests, and is naturally digital in technology. It has the characteristics of encryption, agreement, and intelligence.