Blockchain Industry Weekly | Firecoin Hong Kong stock platform acquires Japanese IDC assets, Facebook hearing is not yet to be continued

Summary

Event: This week, the market is still oscillating. The two houses of the US Congress completed a hearing on Libra. At the meeting, Facebook raised sharp questions about data privacy, financial stability and coordination, and the whole process was fierce. The fire currency Hong Kong stock platform Tongcheng Holdings announced that it plans to acquire Japanese data center service provider Win Techno Inc. for HK$6 million, and the fire currency will accelerate the layout of the Japanese market. The Facebook congressional hearing was fierce and focused on issues such as data privacy, regulatory compliance and financial stability. This week at the hearings of Libra in the US Congress and House of Representatives, the lawmakers fought fiercely with Libra's head, Marcus, on data privacy, regulatory and financial stability issues. Marcus's response was unsatisfactory – in fact, the chairman of the hearings of the two chambers The easy-to-follow credits of Facebook's data privacy and other aspects have made Facebook's Libra credits less impressive. The adequacy of Libra's asset reserves by multiple hearing panelists, that is, whether it can guarantee the real-time exchange of user funds into French currency (ie liquidity), whether it can achieve the claimed currency price stability (ie, there is still risk of exchange rate fluctuations and whether Libra can be effective) Anti-money laundering and other aspects raised doubts, and the G7 finance ministers meeting failed to reach an agreement on Libra.

Tongcheng Holdings plans to acquire Japanese IDC service providers to lay out the Japanese market. Recently, the Hong Kong stocks of the Fire Exchange Exchange intend to acquire Win Technon Inc., a Japanese IDC service provider, for HK$6 million. The Target Company Win Techno Inc. was incorporated in Japan in 2018 and its main business includes providing data center related services including but not limited to data storage and backup, data center operations and maintenance. We believe that the acquisition of the target company will enable the fire currency to obtain a Japanese ICP service license, laying the foundation for further entry into the Japanese digital currency trading market.

The blockchain industry is currently undergoing an unprecedented deep game with the regulatory authorities. Recently, the media exposed the draft document of India's "Disabled Cryptographic Currency, Regulatory Legal Digital Currency Act", confirming the rumors that India may have legislated to "maximal sentence of 10 years" for secret currency activities. This is precisely because the blockchain has begun to incite the performance of the traditional global financial system. Breaking the ground and building new blocks, the blockchain is ready to meet the new century.

Last week's market review : Chainext CSI 100 rose 4.35%, and the segmented Chinese entertainment social class performed best. From the breakdown of the segment, the payment transaction, entertainment social, storage & computing sector performance is slightly better than the Chainext CSI 100 average, 6.45%, 11.04%, 6.23%, Internet of Things & Traceability, commercial finance, foundation enhancement, foundation The chain, pure currency, and AI sectors underperformed the Chainext CSI 100 average, 3.02%, -2.68%, 1.44%, 0.66%, 3.21%, and -4.26%, respectively.

Risk warning: regulatory policy uncertainty, project technology progress and application landings are not as expected, and cryptocurrency-related risk events occur.

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1. Hotspot tracking: Facebook hearings are fierce, and the fire currency Hong Kong stock platform acquires Japanese IDC assets.

This week, the market is still oscillating. The two houses of the US Congress completed a hearing on Libra. At the meeting, Facebook raised sharp questions about data privacy, financial stability and coordination, and the whole process was fierce. G7 finance ministers and central bank officials expressed concern about the impact of Facebook's digital currency Libra on the global financial system. Recently, the Hong Kong-based stock market platform Tongcheng Holdings announced that it plans to acquire Japanese data center service provider Win Techno Inc. for HK$6 million, and the fire currency will accelerate the layout of the Japanese market. The Facebook congressional hearings spurred on issues such as data privacy, coordination with regulation and financial stability. This week at the hearings of Libra in the US Congress and House of Representatives, the lawmakers fought fiercely with Libra's head, Marcus, on data privacy, regulatory and financial stability issues. Marcus's response was unsatisfactory – in fact, the chairman of the hearings of the two chambers The easy-to-follow credits of Facebook's data privacy and other aspects have made Facebook's Libra credits less impressive. The adequacy of Libra's asset reserves by multiple hearing panelists, that is, whether it can guarantee the real-time exchange of user funds into French currency (ie liquidity), whether it can achieve the claimed currency price stability (ie, there is still risk of exchange rate fluctuations and whether Libra can be effective) At the same time, according to an anonymous official attending the G7 meeting, the G7 may issue a joint statement on Libra, but the G7 countries have conflicts on Libra’s international economic order, and France and the United States are There are also differences in the taxation of digital income. According to sources from the French Ministry of Finance, although the G7 agreement has set the tone, there are reservations on the UK and Canada on some issues, especially in the case of minimum taxation for digital currency. Rate and other issues.

Facebook is expected to advance Libra from five aspects. In view of the precedent of Facebook's illegal use of user data, many members of the hearing expressed distrust of Libra and even Facebook. Libra wants to become a currency without borders, to obtain national regulatory and user recognition as soon as possible and to strive to regain trust. In addition, Libra needs to confirm the ownership of the coinage as soon as possible to ensure that Libra has sufficient collateral to face the run and minimize the stability of the currency. At the same time, Libra as a new secret currency, Libra should quickly identify which existing laws of the countries they will follow, how to interact positively with regulation, and comply with compliance. Libra's head David Marcus said Libra will not be launched until the concerns of all regulators are properly addressed. In addition, the hearing did not have any further “outcomes”, but it also gave Libra some clear guidelines for improvement, including:

(1) In terms of data security, Libra must prove that it will not abuse user data now and in the future. Libra Association must design a better data privacy protection plan;

(2) In terms of currency stability, Libra should gradually clarify the specific details of a basket of reserve assets, and do not rule out testing the relatively easy-to-operate assets such as US dollars and national debts to prove its financial stability;

(3) In terms of customer certification, Facebook and Calibra must first face the key issues of user KYC, including whether Libra's wallet is authorized by Facebook or Libra (meaning that it is necessary to meet KYC). This is anti-money laundering and other issues. key point;

(4) In order to be able to launch Libra as soon as possible, it is not excluded that Facebook and Libra will adapt Libra to an existing regulatory regulation (such as regulatory policies for specific product forms such as securities or commodities), just as BlockStack makes tokens under RegA+ terms. As for the release, this means that Libra will be positioned to find a financial attribute, and will continue to expand its scope of application in the regulatory game;

(5) Libra also needs to identify a responsible entity (individual or other entity) that is regulated by the US, so that Congress and regulators can clearly identify the responsible person (entity) and additionally identify a small group of users that can be controlled (such as strict One million users of KYC) pilot Libra.

Tongcheng Holdings plans to acquire Japanese IDC service providers to lay out the Japanese market. Recently, the Hong Kong stocks of the Fire Exchange Exchange intend to acquire Win Technon Inc., a Japanese IDC service provider, for HK$6 million. The Target Company Win Techno Inc. was incorporated in Japan in 2018 and its main business includes providing data center related services including but not limited to data storage and backup, data center operations and maintenance. We believe that the acquisition of the target company will enable the fire currency to obtain a Japanese ICP service license, laying the foundation for further entry into the Japanese digital currency trading market.

The blockchain industry is currently undergoing an unprecedented deep game with the regulatory authorities. Recently, the media exposed the draft document of India's "Disabled Cryptographic Currency, Regulatory Legal Digital Currency Act", confirming the rumors that India may have legislated to "maximal sentence of 10 years" for secret currency activities. This is precisely because the blockchain has begun to incite the performance of the traditional global financial system. Breaking the ground and building new blocks, the blockchain is ready to meet the new century.

2. Relevant news of various governments: Wenzhou City issued the “Action Plan for the New Economic Development of the Economy”, which will focus on cultivating emerging industries such as blockchain.

The Wenzhou Municipal People's Government Office issued the "Wenzhou Urban Economy New Business Development Action Plan (2019-2021)". Five key tasks will be implemented, including adaptation to the new technological revolution and industrial transformation requirements, from manufacturing to intellectual production, focusing on the development of emerging industries such as communications satellites, Internet of Things, integrated circuits, big data, and blockchain. Focusing on the digital economy and new business carriers around Wenzhou's national self-made zone and the Huanluo Luoshan Science and Technology Corridor, as well as the opportunities of industry and government digitization, strive to land the national Beidou satellite industry base, accelerate the Internet building, innovation and entrepreneurship Xintiandi, digital economy industry The construction of the Innovation Center and other projects will promote the expansion of the National University Science Park and the construction of the China Electronics Wenzhou Industrial Park, attracting a number of Internet of Things, big data, blockchain and other industries such as Alibaba, Baidu, Tencent and Tsinghua Unisplendour. French financial regulator Autorite des march (AMF) will pass a new set of digital currency regulations. The regulation will be the first virtual currency company. In order to obtain regulatory approval, virtual currency companies must act in accordance with capital requirements and consumer protection standards and pay taxes in France. It is reported that the regulator is currently negotiating with three to four companies on initial public offerings (ICOs), as well as virtual currency exchanges, custodians and fund managers.

3. Industry chain related dynamics: BTC miners' revenue decreased by 16.4%

(The following source website data was updated to July 20) Last week, BTC added 2.28 million new transactions, a decrease of 3.6% from the previous month; ETH added 5.26 million new transactions, an increase of 1.3% from the previous month.

Last week, the average daily income of BTC miners was US$19.17 million, a decrease of 16.4% from the previous month. The average daily income of ETH miners was US$3.18 million, a decrease of 23% from the previous quarter.

Last week, BTC's average daily computing power reached 64.5EH/s, down 0.5% from the previous month; ETH's daily average computing power reached 178.3TH/s, an increase of 1.5% from the previous month.

Last week, the difficulty of mining the entire BTC site was 9.06T, an increase of 4.5% from the previous month; the next difficulty adjustment date was on July 23rd? The expected difficulty value is 9.17T, and the difficulty is increased by 1.21%. Last week, the average mining difficulty of ETH's entire network was 2.24T, an increase of 1.6% from the previous month.

4. Last week's market review: Chainext CSI 100 rose 4.35%, and the segmented Chinese entertainment social performance was the best.

We introduce the professional index product of the token market, the Chainext CSI series index, in which the CSI 100 index [1] represents the overall trend of the market; the CSI 5 index [2] represents the trend of the market oversized currencies; the CSI 21-100 index [3] Represents the trend of small caps in the market. The market continues to adjust this week. As of last Sunday (July 21), the Chainext CSI 100 index was 975.22, up 4.35% from the previous week, and the total volume of 24 hours on Sunday was 11.163 billion US dollars; among them, the average global price of BTC was 10599.11 US dollars, compared with the previous period. It rose by 2.25%; the global average price of ETH was US$225.63, down by 1.33% from the previous period.

From the breakdown of the segment, the payment transaction, entertainment social, storage & computing sector performance is slightly better than the Chainext CSI 100 average, 6.45%, 11.04%, 6.23%, Internet of Things & Traceability, commercial finance, foundation enhancement, foundation The chain, pure currency, and AI sectors underperformed the Chainext CSI 100 average, 3.02%, -2.68%, 1.44%, 0.66%, 3.21%, and -4.26%, respectively.

risk warning

1. Uncertainty in regulatory policies; 2. Project technical progress and application are not as expected;

3. A cryptocurrency-related risk event occurs.

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