Babbitt weekly election 丨 Central European Central Bank pays close attention to stablecoin risk; Ripple raises US $ 200 million and is valued at US $ 10 billion

Guide: Blockchain has set off a new industry boom in China. Babbitt's weekly election will review the major events that can change the industry trend in the past week from the perspectives of policy supervision, editorial, project ecological landing, technology progress, platform construction, and investment. Investors and users can provide a basis for grasping blockchain development trends and opportunities.

In the past week, the blockchain industry has made positive progress in areas such as supervision, project implementation, platform construction, investment and financing. Stablecoins are being closely watched by central banks, including the People's Bank of China, the European Central Bank, and others. Last week, global regulatory action was relatively frequent, including Europe, the United States, Singapore and other regions. There is also major news in project financing. Ripple has completed $ 200 million in financing, while the most popular DeFi platform, the MakerDAO Foundation, has received $ 27.5 million in financing.

I. Policy and regulatory trends

Chen Yulu, deputy governor of the central bank: Global stablecoins will impact the currency sovereignty of a country, and may replace the current currency nationwide or even globally

Chen Yulu said that the global stablecoin will impact the currency sovereignty of a country. The potential user base of stablecoins is huge and may have systemic importance in individual jurisdictions, replacing the current currency nationwide and even globally. The stable currency poses a greater threat to the weaker currencies. After the impact of monetary sovereignty, the most direct impact on a country is the decrease in the effectiveness of monetary and fiscal policies. From the perspective of monetary policy, on the one hand, stablecoin may weaken the bank's ability to create credit and reduce the effectiveness of monetary policy. On the other hand, stablecoins may also reduce the stability of money demand and make it more difficult to formulate monetary policies.

ECB President: Stablecoin is not stable, it will be regulated as a payment system

European Central Bank President Christine Lagarde said that Facebook's social media attributes have given it a strong competitive advantage in stablecoin development, and the combination of social media data and financial data will cause other operators to lose competitiveness. She also mentioned that it is incorrect to call stablecoins because they are different from traditional financial systems in that they still cannot guarantee the value and security of assets. The European Central Bank is planning to apply its payment system regulatory framework to stablecoins.

Blockchain supervision has a major event in one day

Within a day, major news came from crypto regulation in the U.S., South Korea and the new three countries. The U.S. Congress is drafting the 2020 Crypto Token Act to clearly regulate federal agencies that regulate digital assets. Singapore began to officially open applications for crypto trading licenses in January 2020. A public debate will be held in January 2020 to determine whether the government's strong restrictions on crypto tokens are unconstitutional.

French financial market regulator approves first ICO application

The French financial regulator, the French Financial Markets Authority (AMF), approved the first ICO application. However, it only approved the ICO proposal and did not approve the token issuer.

Singapore officially opens applications for crypto trading licenses, limited to one month

The Monetary Authority of Singapore announced that it will officially implement the Payment Service Act from January 28, 2020. Under this new bill: all digital currency exchanges, wallets and OTC platforms are service providers related to payment tokens (including BTC, ETH, etc.), and must meet relevant anti-money laundering regulations and apply for corresponding licenses to operate in compliance .

Pan Gongsheng, deputy governor of the central bank, talks about the crackdown on virtual currencies: avoiding the risk of a large-scale virtual asset bubble

Pan Gongsheng, deputy governor of the People's Bank of China, said that the special rectification of Internet financial risks has achieved substantial results, and decisive action was taken to crack down on speculative speculation in virtual currencies, avoiding a large-scale virtual asset bubble risk.

German cryptocurrency regulatory rules officially take effect in January 2020, financial institutions are not allowed to provide custody services

German cryptocurrency custody service providers will have to apply for a license from BaFin after January 1, 2020. Companies that are already conducting relevant business can receive a grace period if they can notify BaFin before February 1 and submit their applications by June 30, 2020.

Second, editorial talks with big coffee

Zhu Jiaming: Wall Street, Silicon Valley, WTO and IMF are declining, and hard technology has developed into a direct promoter

The essential reason for the decline of Wall Street, Silicon Valley, WTO, and IMF is that the chain of interests they constitute has seriously hindered the possibility of reform and change, and was unable to adapt to changes in the shape of capital, technology, trade and currency.

Meng Yan: Digital assets are the core of the digital economy upgrade. Its eight advantages promote digital economy upgrade and flourish

Digital assets have many advantages in applications: flexibility, certainty, transparency, high accuracy, real-time circulation, innovation, transparency, and ecology

Chen Liwu, Deputy Director of the Science and Technology Department of the Central Bank: To establish a blockchain technology financial application innovation management mechanism

Four suggestions: one is to strengthen the tracking research of blockchain technology; the other is to promote the development of application standards for blockchain technology in the financial field; the third is to guide the rational application of blockchain technology in the financial field; the fourth is to strengthen the blockchain technology Industry collaboration.

Li Lihui, Former President of Bank of China: We should step up efforts to improve the technical standards and security specifications of blockchain finance

Quickly improve the technical standards, security specifications, and certification review systems for blockchain finance. In law, we should clarify the legal definition of digital assets, the contractual nature of smart contracts and its effectiveness, and the responsible subjects, behavioral norms and regulatory standards under a distributed architecture.

Blockchain and physical applications

Babbitt Site | Telecom Industry Blockchain Exploration at a Glance, 3 Major Operators Unlock 8 Application Cases

Interview with Babbitt 丨 5 ​​years of exploration, 4 new products, 3 principles, the landing of Hang Seng Electronic Blockchain

First in the country! Judicial Application of Judicial Blockchain Smart Contract Technology in E-commerce Dispute

Babbitt enters cross-border finance, joins banks to launch China's first blockchain re-export trade product

Tencent original works blockchain copyright deposit certificate released

R3 has completed the largest on-chain trade finance pilot project to date, with more than 70 organizations from 25 countries participating together

Babbitt Site | Super Ledger Beyond Fabric, 15 Projects in Progress, Reward 9 Cases

Fourth, the progress of blockchain technology

Ethereum 2.0 code audit will be completed in February next year, and the storage contract mainnet may be launched in July

The security audit company Least Authority will conduct a comprehensive security audit of "Ethereum 2.0 core client phase 0 specifications. The preliminary report of the audit is expected to" be announced in early February "and is currently nearing the final stage.

Ethereum 2.0 is hopeless in the short term, and unexpected complexity may delay "full launch" for several years

It is expected that "it will take many years before the full launch of" Ethereum 2.0 ". The task now is to extend the" life of the original chain of Ethereum by at least another 3-5 years, and then upgrade the Serenity (ETH 2.0) more significantly " .

Five, investment and financing

Ripple completes $ 200 million Series C financing, valuation reaches $ 10 billion

MakerDAO Foundation announces completion of $ 27.5 million financing

Investors line up to knock on the door, and Alchemy, which has received $ 15 million in funding, will become a blockchain version of Amazon AWS

Blockchain startup TradeWindow secures $ 1.7 million in new funding round

Digital Assets (DA) receives $ 35 million Series C funding led by Australian Securities Exchange (ASX)

Six, mining

Opinion: Halving the market may be the beginning of a mining disaster for Bitcoin miners

To Southern Miners: A Guide to Heating for Miners

Bitcoin miner story: Miner's loss of one million yuan sadly exits, "downlord" profit returns 10 million full

Inventory 2019: those things about the blockchain "mine circle"


DeFi week selection 丨 How to play DeFi in 2020? Top investment institutions and project parties give you answers

Bitcoin surpasses Ethereum as the mainstay of DeFi? Here are 5 predictions for DeFi in 2020

Ethereum's DETH: 2020 may be a particularly crazy year

Eight, central bank digital currency and Libra

Central bank digital currency

European Central Bank's legal digital currency PoC first exposed, small transactions can be anonymous

European Central Bank: Central bank digital currency payment system being developed to protect user privacy

Director of Research Bureau of the People's Bank of China: Currency Competition in the Digital Age

Is the integrated CBDC the third type of digital currency in the central bank?


Facebook is already using Libra, and other founding companies have not paid membership fees

Starting | Deng Jianpeng: Risks and Regulatory Paths of Stablecoin Libra

Babbitt column 丨 Gu Yanxi: Libra's impact on the global financial industry from three basic judgments

Fed director: Libra faces "a series of core legal and regulatory challenges", including how to link to underlying assets

Nine: Year-end inventory series

We use these ten sentences to pay tribute to the 2019 Chinese blockchain | Year-end inventory

Year-end summary | Messari founder looks forward to 2020: Lightning Network will grow 50 times, stablecoin market value surpasses BTC

Year-end inventory | You must have paid attention to these "big events" in 2019, but you may not know their end

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