Economist Peng Wensheng: Bitcoin itself does not create value, and its transaction result is redistribution in society as a whole

Economist Peng Wensheng published a review article "From a Contactless Economy to a Digital Economy", saying that the digital economy needs to pay more attention to distribution issues. Peng Wensheng mentioned that some industries have benefited more from increased labor productivity brought by technological progress. For example, for economic activities with zero-sum attributes, one person gains but the other loses. Such economic activities do not create new added value for the whole society, and are mainly distribution. Even though digital technology improves its individual production efficiency, it is zero-sum. The more efficient it is, the more losses the other party may suffer. To give a few simple examples, cyber fraud is related to cyber police and Bitcoin transactions. Bitcoin itself does not create any value, and the result of its transaction is redistribution from the whole society. In the extension, some derivatives financial transactions are also zero-sum economic activities.