Viewpoint | The birth of blockchain has financial attributes and is a frontier in the investment field

This article Source: Financial Court No. 1 , Author: Yu Junyi

It has been more than ten years since the birth of blockchain. From the initial infrastructure to the construction of the underlying technology to the application of the scene, China's blockchain technology and industry are step by step on the road of development. In the past two years, blockchain technology has been continuously valued globally, and it has a tendency to become a new outlet in the investment field.

On the 9th, HashKey Capital CEO Deng Chao live broadcasted online to share with you how to look at the development of global blockchain from the perspective of investment.

He said that the blockchain is currently in the 2000 stage of the original Internet. At present, blockchain still has the disadvantages of poor scalability, low network concurrency, lack of practical business scenarios, and significant shrinkage of digital assets.

However, with the development of the industry, the blockchain infrastructure and technology represented by Ethereum have gradually matured. The mainstream countries' regulatory attitude towards digital assets has become clear, and mainstream institutions have begun to build commercial services based on blockchain technology. The blockchain industry will be the next trillion-dollar market after the Internet.

He said that blockchain is currently a very cutting-edge direction in the investment field. Many people initially believed that blockchain is Bitcoin, which is only a simple understanding. The blockchain is a decentralized, distributed consensus ledger that uses cryptographic techniques to confirm consensus and form blocks in sequence.

In the live broadcast, he emphasized that "the best description of blockchain is the machine of trust, because blockchain is the first implementation in human history that does not require a third party to act as an intermediary, and a tool that can realize the credit mechanism with only technology . "

Deng Chao briefly introduced the development history of the blockchain. He said that the blockchain actually existed before entering the public's field of vision. A large part of it is cryptographic content. As early as 1976, someone proposed a block in the paper. The logic of the chain. It was not until 2008 that Satoshi Nakamoto first proposed a complete system, which is the first application of blockchain. However, because the blockchain was tied to Bitcoin or other digital coins at the time, it was easy to confuse the blockchain as a digital currency, but this is just an application scenario of the blockchain. Finally, there are two iconic events in this industry from the edge to the mainstream. One is the blockchain-based payment system established by Facebook, and the other is that President Xi put a high priority on blockchain technology at the meeting.

He introduced that the blockchain is divided into three categories, one is the public chain, that is, a chain that everyone can apply, and the other is the alliance chain, which is a chain with preset selection criteria objects, such as Ant Financial or other companies Wait between. The third is the private chain, which is suitable for internal data management and auditing of specific institutions.

At present, blockchain has played an active role in the epidemic. For example, everyone was focusing on digital infrastructure during the epidemic. For the future development direction of big data digital infrastructure platform is credibility, it also needs blockchain technology to support.

Regarding the impact of blockchain on society, he mentioned that the current government needs to think about how to achieve a good balance between early anonymity and supervision of blockchain applications, and second, how the government can improve the welfare of society through blockchain technology. In the industry, attention should be paid to identifying fake applications of blockchain, and finding the technical direction that is truly suitable for blockchain.

He specifically mentioned the current problems facing the blockchain industry. The main thing is to de-block the stigma of the blockchain. For example, from the perspective of traditional industries, the blockchain is regarded as a speculation. However, in the past two years, many traditional financial backgrounds have begun to learn and understand the blockchain technology, coupled with the promotion of the government, we can see more positive developments.

Next, he introduced the current industry map of the blockchain. The upstream is chip manufacturing, mining machines, and general technology development. The midstream technology includes public chain, alliance chain, digital asset circulation and security, investment institutions, etc., and the downstream includes DeFi, finance, vertical industry applications, etc.

In the end, he said that 2019 is the first year of rapid development of blockchain, whether it is the promotion of China's blockchain to a strategic level, or the launch of "Libra" abroad, it will bring us real life and business environment. This impact has also given the public and the government a closer understanding of blockchain.

In terms of changes in investment, first of all, it will be more professional, and investment institutions that truly have the professional ability and investment network to tap, invest, and help outstanding projects grow will be more favored by the market. The second is to be more compliant. Blockchain investment institutions will be aligned with traditional excellent investment institutions, build standardized business processes, operate in accordance with territorial regulatory frameworks, and obtain the qualifications of relevant regulatory agencies.

At the end, he expressed his 2020 conjecture: "Global blockchain users will exceed 100 million, global blockchain assets market value will exceed trillions of dollars, and the" G2 "pattern in the blockchain field between China and the United States will become more obvious."