Yang Dong, Renmin University of China: The digital token market with the main goal of speculation under the guidance of the wrong concept is unsustainable.

According to the Financial Times, Yang Dong, director of the Big Data Blockchain and Regulatory Science and Technology Laboratory at Renmin University of China, said in an interview that the blockchain economy is a new form of crowdfunding under technology. Maintaining this economic shape is the true value of the blockchain. The "Token", which is not worthy of the name, does not reflect this value orientation. Instead, it promotes the digital currency market that has pursued hype and has produced a huge bubble. The "Token", which is not worthy of the name, was further enhanced after being translated into "tokens" in the Chinese context, resulting in even worse misguided guidance, breeding a variety of "selling coins" and "air coins." The digital token market, which is dominated by misconceptions and is the main target of speculation, is unsustainable.