Blockchain industry ushers in an outbreak

Since the birth of Bitcoin, the blockchain industry has so far failed to meet the expectations of improving production efficiency and serving the real economy. However, people in the blockchain industry are still moving forward, constantly breaking through the bottleneck of application landing. Perhaps in the near future, people will gradually realize that blockchain technology is coming out of the silent period.

First, the blockchain turned out

2008 is precisely the time when the global economic and financial crisis is at its worst, and the financial crisis has culminated in the United States and spread to the world. The real root of the global financial crisis is that the development of globalization has transcended the original world governance system, including the international monetary and financial system. At the same time, “money withdrawal”, “bookkeeping and liquidation”, greed of financial institutions, and bailouts and stimulating behaviors under the prevalence of Keynesianism are all contributing to currency overshoot and excess liquidity, which have become important for the outbreak of the financial crisis. Driving factors. At the end of 2008, Nakamoto published a nine-page white paper on his research on the electronic cash system. In early 2009, Nakamoto confirmed the first block of Bitcoin on a small server in Helsinki, Finland. The World Block, and the headline of the Times’s front page about the bailout bank was written into the Creations block, which also represented the birth of Bitcoin. The blockchain acts as a trusted machine, using a mathematical algorithm to ensure that two strangers can complete a transaction, whether it is a financial transaction or a commodity transaction, without resorting to a third party. This kind of transaction is based on a cryptographic distributed network. It does not depend on any intermediary and changes the production relationship. It is a revolution for many existing business scenarios.

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Today, bitcoin papers have been available for more than a decade, but the future of “building globally computable trust” may be even longer. Since the first deployment of the TCP/IP protocol in 1975, the Internet has been around for more than 40 years. Too much we take the Internet's current prosperity for granted, but in fact the first 15 years are completely unknown. It was not until 1990 that the World Wide Web and browsers were first deployed, and since then more and more have entered the public's field of vision, carrying the mainstream commercial applications of society. The Bitcoin "Proof-of-Work" protocol was first deployed on January 9, 2009 (the time of the founding block), and this new world has just begun.

Second, technology iteration and industry chaos

Bitcoin is a highly coupled chain of applications and underlying technologies. Its technical scalability cannot support many application scenarios that really want to use decentralized solutions. The POW consensus leads to 6-7 transaction throughputs per second. distant. To this end, Ethereum hopes to build a public underlying blockchain and support the application scenario to establish DAPP on top of it, which is convenient for application scenarios. At the same time, it revolutionized the idea of ​​"code is law". The ERC20-based pass generates an extremely complementary ICO that has become the largest application in Ethereum.

However, the inherent defects of Ethereum's technical design have made it impossible to support large-scale commercial scene applications. Instead, it has created a tens of thousands of air coins. As the blockchain industry is separated from the gray areas outside the traditional supervision, the certificate should be the key to open the door to the sharing economy, and it is ironic to degenerate into a tool for the liar to spend money. In April 2018, a platform identified a total of 36,235 suspected pyramid schemes, and the number of “air coins” platforms in the name of virtual currency and blockchain reached more than 15,000, with more than 30 million participants. Due to the asymmetry of information, the phenomenon of exaggerating the words and running the money by the project side is not uncommon, causing great losses to investors and hindering the development of blockchain technology. The inherent defects of Ethereum's technical design have made it impossible to support large-scale commercial scene applications. Instead, it has created a tens of thousands of air coins. As the blockchain industry is separated from the gray areas outside the traditional supervision, the certificate should be the key to open the door to the sharing economy, and it is ironic to degenerate into a tool for the liar to spend money. In April 2018, a platform identified a total of 36,235 suspected pyramid schemes, and the number of “air coins” platforms in the name of virtual currency and blockchain reached more than 15,000, with more than 30 million participants. Due to the asymmetry of information, the phenomenon of exaggerating the words and running the money by the project side is not uncommon, causing great losses to investors and hindering the development of blockchain technology.

On July 25, 2017, the US Securities and Exchange Commission (SEC) issued an investigation report reminding market participants that the online “virtual” organization's issuance and sale of digital assets may be the subject of securities law regulation under federal securities laws. . That is to say, once the project side's token is recognized as a security, it will be included in the supervision, and if it is violated, it will be punished. At the same time, the Chinese government and academic circles are actively studying the risks of ICO and introducing measures to regulate them.

Third, the original Qingyuan ushered in opportunities

Blockchain technology plays a unique role in dealing with the relationship between people and people in economic activities, and the distribution of benefits, which is equivalent to the production relationship, and will ultimately greatly promote the development of productivity. And the major countries in the world today are focusing on the application of blockchain technology-related applications, and it is impossible to squander food. Of course, it is also appropriate to strengthen supervision and increase the impact on the air currency.

Recently, the Network Security Administration of the Ministry of Industry and Information Technology released a publicity list of pilot projects for the application of network security technologies. It is understood that in 101 pilot demonstration projects, there have been six blockchain projects including power blockchain and electronic invoices. On March 30, the National Internet Information Office (referred to as the “Internet Information Office”) publicly released the first batch of 197 domestic blockchain information service names and filing numbers, including Baidu, Aiqiyi, Jinshan, Tencent, Jingdong, and Ant. Jinfu, Jingtong Technology and other enterprises are listed. On the one hand, the introduction of policies has set clear boundaries between the industry and the industry, and it has also taken a strong shot for the industry that is confused by ICO.

At present, China's blockchain enterprises represented by Jingtong Technology are in the development window, and the SWTC public chain that can satisfy large-scale commercialization will provide more for the development of China's blockchain industry and the innovation of the world blockchain. Help. Since the launch of the SWTC public chain, the company has continuously consolidated its technical foundation and accelerated its application. It has launched 6 industry applications and more than 20 industry solutions, with multiple levels and all-rounds, such as private chain, cloud chain, alliance chain and mutual network. One-stop service capability, the ecological layout of blockchain application is initially revealed. Many star applications such as Zhilinkong, bookmark shopping, and media security services rely on the SWTC public chain. With the continuous deepening of the public's cognition of blockchain technology, technology applications continue to serve the real economy, and the blockchain industry is bound to usher in an outbreak. (chain to finance)

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