区块链替代银行,区块链代替数据库

近年来，随着科技的发展，区块链技术已经成为许多领域的热门话题。区块链技术不仅可以替代传统的银行系统，还可以代替数据库，改变传统的商业模式。本文将着重介绍区块链技术替代银行、数据库的三个关键词：去中心化、可信交易和智能合约。

去中心化：去中心化是区块链技术的核心理念，它指的是没有中央机构控制的分布式网络。去中心化网络的优势在于，它可以更有效地管理和存储数据，并且每个参与者都可以参与到网络中来，共同分享网络的权利和责任。这种去中心化的网络模式可以有效改善传统的银行系统，比如提高效率、降低成本、提高安全性等。

可信交易：可信交易是指在区块链网络上进行的交易，这种交易是通过加密技术来实现的，这种加密技术可以有效防止网络中的数据被篡改。这种可信交易有助于改善传统金融体系的效率，同时也可以有效防止欺诈行为。另外，通过可信交易，消费者可以更加安全地进行交易，而且可以更有效地管理资金。

智能合约：智能合约是一种基于区块链技术的自动执行的合约，它可以让双方进行可信交易，并且可以有效防止欺诈行为。智能合约可以让双方在交易过程中更加安全，因为双方不需要相互信任，只需要遵守智能合约的规则即可。智能合约可以有效改善传统金融体系的效率，同时也可以有效防止欺诈行为。

从上述内容可以看出，区块链技术可以替代传统的银行系统和数据库，它的核心理念是去中心化，可以实现可信交易，并且可以利用智能合约来保证双方的安全。区块链技术不仅可以改善传统金融体系的效率，还可以有效防止欺诈行为，改善数据安全性。未来，区块链技术将在更多领域得到广泛应用，为人类社会带来更多的便利。

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Ⅰ What is blockchain

The poster must first understand two logics.

One is blockchain technology and the other is blockchain investment (a mixture of good and bad, need to be distinguished).

Blockchain is essentially a decentralized distributed ledger database. P is a big deal, every node on the chain will be replicated and accounted for synchronously, and the information will be transparent and difficult to tamper with. For example, if you say you want to buy a bag for your girlfriend, and she posts it to Moments, everyone knows about it and writes it down in her notebook. You can't deny it, so you have to pay for it. However, having a partner is the first step!

There are three core values ​​of blockchain technology

1. Decentralization

2. Traceability

3. Untamperable

Because of its values, it can solve many trust problems in our daily life, such as food safety, evidence preservation, etc.

It can be said that the application of blockchain in today's society is becoming more and more widespread, but there are also people who don't know much about blockchain. So what exactly is blockchain? Let me talk about my own experience!

In terms of the decentralized storage of the blockchain, the blockchain can be said to be equivalent to a distributed ledger. The memory of each block is arranged in series using the order of time to form an extensive chain. And this combined chain cannot be tampered with or forged by a third party at will, which effectively guarantees the security of the chain formed by data combination!

Moreover, the characteristics of blockchain are fully in line with the business needs of modern enterprises. Blockchains that are sufficiently decentralized and trustless will be accepted by more people over time. , I believe that blockchain will also be immeasurable in its future development.

So, where exactly can blockchain be used? I believe this is also an issue that many people are concerned about. Just like the Starlight Chain developed by Diandian Starlight, as the Starlight Chain has the same characteristics as the blockchain, more realistic distributed storage and cloud computing will be widely used in our daily life services and the Internet of Things!

In commercial storage, Starlight Chain will also play a vital role, such as distributed hotels or smart life computing, which are inseparable from Starlight Chain's storage, computing and processing work.

It is said that Starlight Chain will be launched soon. If you want to own Starlight Chain, you must prepare in time! But there is another point. If you want to own the Starlight Chain, you have to mine or trade it. If you don’t know it, you need to understand it in advance. Only when you know yourself and your enemy can you choose something that suits you!

What is blockchain? Everyone who knows has a little understanding and their own opinions.

The official definition of blockchain is: Blockchain technology uses block chain data structures to verify and store data, uses distributed node consensus algorithms to generate and update data, and uses cryptography to ensure data transmission and Access security, a new distributed infrastructure and computing method that uses smart contracts composed of automated script codes to program and operate data.

What is mentioned separately in blockchain technology is "decentralization", which means that online transactions do not require intermediaries such as Alipay, and buyers and sellers directly communicate with each other, and there is no need to worry about being cheated. If you cheat, there is no need to consider the credibility of each other.

Similar to the real-life transactions in a physical store, you give him money and he gives you things. He can see the origin of your money, who has used it in the past, and who holds it, and you can see the raw materials, the place of origin, and the specific manufacturing process. Isn’t this awesome?

In the blockchain, we are all a link in the chain. We are linked back and forth, forming a chain, a loop, and a network. Everyone is a part of it, and everyone is the last source of information for others. and accept the next message.

Regardless of whether you make money or not, participating early will always give you more opportunities.

In one sentence, if Internet technology solves the communication problem, blockchain technology solves the trust problem.

The so-called blockchain is a new application model of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm. In layman's terms, blockchain refers to a technical solution that collectively maintains a reliable database through decentralization and trustlessness. To put it more clearly, blockchain is similar to a way for all people to participate in accounting. There is a database behind all systems. You can think of the database as a big ledger. Then who will keep this ledger becomes very important.

At present, whoever owns the system keeps the accounts. Tencent keeps the account books of WeChat, and Alibaba keeps the account books of Taobao. But now in the blockchain system, everyone in the system has the opportunity to participate in accounting. If there are any data changes within a certain period of time, everyone in the system can do accounting. The system will judge the person who has the fastest and best accounting during this period, write his recorded content into the ledger, and record this Within a period of time, the contents of the ledger are sent to all other people in the system for backup. In this way, everyone in the system has a complete ledger. In this way, we call it blockchain technology.

What? I don’t know...

How to use it? The most typical one is probably the economic profit brought about by the exponential explosive growth of Bitcoin. And now every major platform has launched its own blockchain, hoping to get a piece of the pie.

The most popular NetEase nowPlanet, you can earn Force Power by signing in every day, and you can earn Force Power by inviting friends. The amount of Force Power directly affects the number of black diamonds you dig. So far, the biggest brother has only dug seventy. There are about 3 black diamonds, and I only have about 3.

The current information provided by NetEase is that the black diamond transaction will be carried out in mid-March. At that time, it should be possible to reflect whether the black diamond is valuable. And compared with other blockchain projects, NetEase Planet must have the invitation code of the inviter before you can register.

The second one is Block City, which is also a relatively popular platform. Judging from my current situation, this platform has more types of mines. It’s not just like Black Diamond. It is a kind of thing, and in comparison, the quantity dug is really small. So far, it is calculated based on the output of a few 0.00.

The third one is this inurswallet. I don’t quite understand this one. It’s similar to the other two, but the output is relatively large

The fourth one is this online Leitz dog. This one is a little different from the others. You can get calculus points by signing in. , or you can earn micro points by inviting friends, and you can also earn micro points by buying and selling Leitz dogs. Many people feel that there is nothing interesting about raising a dog, because they don’t need to collect it all the time like other platforms, so it seems a bit boring. The current Leitz dog is only the 0th generation, and the breeding function may appear in the later period to produce the 1st generation, the 2nd generation, etc.

Blockchain is a technology that can make data on the Internet safe, reliable and non-replicable. Moreover, there is no need for an agency or organization to take care of it.

At present, blockchain technology is not yet mature, because there are indeed technical bottlenecks, resulting in unsatisfactory data processing speed in the blockchain. The reason why blockchain is so popular is inseparable from people’s enthusiastic expectations. However, blockchain is indeed a disruptive technology. I believe that one day it will break through the technical bottleneck and truly good applications will appear.

1 and N, public and private, efficient and inefficient

(1) What is the difference between new retail and blockchain?

Many people’s first impression is that there is no essential difference between the two!

Is this really the case?

Share-holding new retail, free access for the people, limited capital, only channel, and the end point is socialist ownership by the whole people. Blockchain, free access to capital, restrictions on people, infinite channels and platforms (N), constantly pushing up channel costs, always points to capitalist private ownership. One is 1, the other is N; one channel has decreasing costs, one channel has increasing costs; one points to socialist ownership by the whole people, and the other points to capitalist private ownership.

(2) What is the difference between new retail and traditional networks?

Many people’sIt feels like new retail will help everyone make money in the future, and will be no different from traditional networks in other aspects.

Is this really the case?

Consumer-led new retail has free access for consumers and producers, limited capital, and unique channels. The end point is zero marginal cost and a high degree of system security and stability. In contrast, today's traditional networks have free access to capital, and the number and cost of channels are constantly increasing. Each platform may not see the sun next year, and the platform is logically unsafe and unstable. One is 1, the other is N; one is cost-decreasing, the other is cost-increasing; one is a benefit entity, and the other is a pitfall entity; one is heading towards stability and unity, the other is heading towards division and conflict; one is pointing towards common prosperity, and the other is pointing towards polarization.

(3) What is the difference between new retail and the commercial banking system led by the Federal Reserve?

Consumers dominate new retail, with only one channel. Consumers and physical enterprises have free access. The end point is the lowest-cost channel and socialist public ownership. Commercial banks have free access to capital, and the end point is that channel costs are constantly rising, which not only squeezes physical profits, but also points to debt and economic crisis. One is 1, the other is N; one is free access for people, and the other is free access for capital; one is zeroing out channel costs, pointing to happiness, and the other is gradually increasing channel costs, and the economy is driven by investment, which ultimately triggers an irreversible environmental crisis. .

(4) Great simplicity, all methods unified

Channels do not directly create value!

The fewer channels, the higher the efficiency. New retail has free access for the people. To maintain the uniqueness is to maintain the lowest cost and to maintain the road to the future!

Looking at blockchain, traditional networks and commercial banking systems, their starting point is N. The more they struggle, the greater the damage to the entities they depend on, and the closer they are to death.

——What is socialist public ownership?

All enterprises are linked by a new retail link into a super enterprise, which only bears production and transportation costs. The wealth of society is determined by production capacity, not by capital and financial algorithms. Strong and excess production capacity determines common prosperity.

——What is capitalist private ownership?

With free access to capital, you can mess around. The number of channels and platforms continues to increase, and channel costs increase exponentially, squeezing entity profits and inhibiting entity enterprises from serving the people. Channels here include blockchain, traditional networks, commercial banking networks, etc. The essence of private ownership is to be conservative and fish in troubled waters.

What is blockchain? This word seems to have become a question that people who have done a little research on the Internet will ask in 2018.

The emergence of blockchain as a new concept word, many people were unable to understand it at first.Let’s take the Starlight Chain of Bits and Stars, code: STA, as an example.

Starlight Chain is based on blockchain and has the characteristics of blockchain such as decentralization and trustlessness. The so-called decentralization and trustlessness mean that point-to-point transmission can be carried out in the future, and Starlight Chain Chains can achieve this. The details are as follows:

Based on the decentralization, distribution, point-to-point transmission, non-tampering and other characteristics of the blockchain, the uploaded data will be stored in slices and backed up multiple times and encrypted for storage. Obtaining any one or more pieces cannot constitute complete data. When part of the stored data is lost or damaged, in order to ensure the security of the data and download it at any time, the system will automatically generate a new backup, and only the private key can be used to download, change or delete.

Blockchain is used to jointly record public data, or in a more narrow sense, for accounting.

You said that you can just use a computer to record the accounts yourself. Why do you need a blockchain to record them?

Because others don’t believe the accounts you keep. Who are you? Why do others believe what you remember?

For example, you recorded in your computer that Zhang San owes you 10,000 yuan, and Zhang San said that I also recorded in my computer that you owe me 1 million yuan. What to do?

This used to be the solution: Find a notary, and both of your accounts will be recorded with the notary. If there is a dispute, the notary's account book shall prevail. For example, this is what banks do. Both of your money is deposited with him, and there are records of transfers and borrowings.

The blockchain solves this problem: When you are keeping accounts in your own computer, Zhang San will also keep the same data in his own computer. After recording, you two will check each other and both agree. Okay, this account is officially recorded. There is no need for third parties or so-called "authoritative agencies" or "certification agencies" to participate in the process.

The way everyone keeps accounts together is also called "distributed" or "decentralized" because everyone keeps accounts, and the accuracy of the ledger is determined by a program algorithm rather than a certain an authoritative organization.

This is the blockchain. The core is finished. The blockchain is as simple as a common ledger.

What is blockchain?

First of all, let’s clarify the concept. Blockchain is a computer technology that integrates multiple disciplines. Like the Internet, it is an electronic platform for processing information data.

Blockchain is not equal to digital currency. Digital currency only applies blockchain technology to increase its uniqueness and security, making it difficult to counterfeit. These digital currencies are actually strings of digital information codes.

Then answer two sub-questions:

(1) How to use blockchain technology

ToTo figure out how to use the blockchain, you must first figure out how it works and what its advantages and disadvantages are.

Simply put, on the blockchain platform, the data will be processed and packaged into a fixed size, and then encrypted to generate unique verification information, and the verification information will be used to complete the concatenation of the data. The middle information block will contain the verification information of the previous block and generate new unique information for use by subsequent blocks. Because the generated verification information is unique, changing any of its contents will produce another different verification information. Therefore, blockchain uses this to ensure data security.

On this basis, the blockchain uses distributed storage to store copies of data in the hands of everyone participating in the blockchain. Only the consistent data information is recognized. information. If there are different copies that are different from the majority, then its data is tampered with, that is, forged.

Blockchain also has other features, such as instant broadcast, status synchronization, smart contracts, automatic operation, and public sharing.

When we use blockchain technology, we must think about what actual problems this technology can solve and whether there are any other alternative solutions to these problems. If the cost of using blockchain technology is lower, then it can be adopted.

For example, if a company's financial information is saved using blockchain technology, each financial transaction will be securely encrypted and distributed to multiple computers in the company to save copies. Then these stored data are secure enough, and no one can unilaterally tamper with the accounts. If someone's copy of the account is different from other people's, then it is tampered with.

Such an application can save a lot of financial data review costs and create benefits for enterprises.

(2) When will blockchain mature?

Blockchain will mature tomorrow.

Haha, of course this is impossible. To say when the technology will mature, you need to consider where it will be used, whether it is for commercial or civilian use, or for simple data applications. To what extent do you want to use technology?

For example, when will Internet technology mature? Can you call me mature now? What are the criteria for maturity? For civilian use, Internet technology is relatively mature because it can already meet people's daily information processing needs. But for commercial use, Internet technology is not mature enough because it still has some technical bottlenecks. This is why Alibaba produces some transaction volume data every year during the e-commerce festival. You know, in such a short period of one or two hours, hundreds of millions of information flows in. How to deal with it? Whose priority? What to do if data is interrupted? These are all questions that are emerging gradually.

Back to the blockchain, blockchain technology is still in the state of a primitive model and is still in its very early stages.At the stage of rapid development, no one had imagined what kind of specific changes it would ultimately bring to society. Everything was just a castle in the air. Even the current social foundation of blockchain is still very weak. How can we infer its maturity time on such a basis?

If I had to name a time, I would say tomorrow. Why tomorrow? Because technology is developing, tomorrow's progress will definitely be more complete than today's.

Thanks for reading.

II The implementation of the "Blockchain + Internet of Things Security" international standard led by Changhong empowers the acceleration of smart home applications

Recently, organized by IEEESA (International Electrical and Electronics Engineers Standards Association) The global standards project meeting was held online. At this meeting, the "Blockchain-Based Zero Trust Framework Standard for the Internet of Things", which was submitted by Sichuan Changhong Electronics Holding Group Co., Ltd. (hereinafter referred to as "Changhong Holdings"), was unanimously approved after full discussion by international experts at the meeting. The project was formally established, which is also the world’s first international standard for “blockchain + IoT security”.

After the implementation of this standard, relevant parties will build a trustful Internet through the promotion of the zero-trust framework of the Internet of Things based on blockchain, and realize the application of blockchain technology in the industrial Internet, smart homes, smart health, and smart homes. The implementation of applications in major scenarios such as cities will help accelerate the digital transformation and high-quality innovative development of my country's real economy.

Breaking through key bottlenecks

Accelerating smart home applications

It is understood that the "Blockchain-based Zero Trust Framework Standard for the Internet of Things" proposed this time, It is the first standard proposal launched by the Blockchain Empowering IoT Security Working Group under the IEEEC/BDL Computer Association Blockchain and Distributed Accounting Standards Committee.

“This standard will be the first to propose at the standard level the technical idea of ​​using blockchain technology to build a zero-trust security system for the Internet of Things, and provide a replicable and scalable distributed trust core technology framework for native applications of the Internet of Things. , in order to reduce the technical threshold and application cost of the Internet of Things security system, and break through the key bottlenecks in the industry's technological innovation and application development." said a relevant person from Changhong Holdings.

The security flaw of the Internet of Things lies in the lack of a mutual trust mechanism between devices. All devices need to be checked with the data in the Internet of Things center. Once the database collapses, it will cause great harm to the entire Internet of Things. Big damage. The distributed network structure of the blockchain allows devices to maintain consensus without the need for verification with the center. In this way, even if one or more nodes are breached, the data of the overall network system is still reliable and safe.

"The standardization of this framework will promote the healthy development of IoT applications, provide a trust foundation for the IoT ecosystem, and benefit all participants and stakeholders." Changhong said.

Tang Bo, chief scientist of Changhong Information Security Laboratory, believes that the combination of blockchain and the Internet of Things will empowerGive business models in the smart home field security and new vitality.

In the Internet of Things scenario represented by smart homes and the industrial Internet, tens of billions and an ever-growing number of Internet of Things devices (IoT) are changing the existing network structure and traditional boundaries. The security model is being challenged. The interconnection between heterogeneous and heterogeneous master devices requires the establishment of a safe and trustworthy collaboration mechanism. Therefore, there is an urgent need to develop a common framework to deal with a large number of security and trust challenges in the Internet of Things to realize the Internet of Things. End-to-end security and trustworthiness.

"Breaking the original isolated individuals, blockchain + IoT technology can realize a distributed collaborative network. Connect various smart home manufacturers, home appliance terminal platforms and regulatory agencies in the form of blockchain nodes , realizing the true interconnection of all things, solving key bottlenecks and core pain points, and also enhancing the prosperity and compatibility of the smart home ecosystem." said Hong Shibin, founder of Yuecheng Co., Ltd.

Major General Ding, founder of Ding Technology, believes that "Anyone, thing, or thing that wants to access the network needs to undergo strict verification to build a security barrier for the Internet of Things. This is in a future of 'Internet of Everything'" , is very necessary. The launch of the standard can more clearly guide the application of the 'zero trust principle' in the field of Internet of Things. Strengthening the feasibility and security of interconnection will help the scale of smart homes to grow faster. "For a long time, Chinese companies have often been keen on product production and neglected the formulation of standards, causing Chinese products to encounter many technical barriers in their global expansion. This time, Changhong and other companies took the lead in formulating global standards. The first 'Blockchain + Internet of Things Security' international standard has enhanced the ability of Chinese enterprises to participate in the formulation of global standards. New technologies require relevant standards to guide the development of related ecological industries. For the industrial ecology and development of new technologies In terms of globalization, its huge commercial potential requires relevant standards to guide the development of related ecological industries. Chinese companies are already at the forefront, which shows that traditional Chinese companies have increased their awareness in terms of standards, product technology, and the construction of product barriers. " Zhou Xibing, a researcher at the Chinese Local Enterprise Soft Power Research Center, said.

Comprehensive layout of Internet of Things applications

Give direction to the digital transformation of enterprises

Blockchain Internet of Things is a concept mainly promoted by the ITU standards organization. In early 2017, ITU- T established the SG20 standards group, which is responsible for the formulation of standards for the Internet of Things and its application in smart cities and communities. The leading domestic companies are China Unicom, ZTE, and China Information Technology.

This is the first time that a home appliance company has taken the lead.

In recent years, Changhong Holdings has been based on the Internet and oriented to the Internet of Things, accelerating transformation and upgrading. In 2018, it established an information security lighthouse laboratory to comprehensively lay out the development of blockchain standards for Internet of Things applications.

Tang Bo said that the laboratory will be committed to promoting the development and release of the standard and soliciting talents engaged in the Internet of ThingsRelevant enterprises, industry associations, colleges and universities, scientific research institutes, and service organizations related to blockchain application research, testing consulting, and engineering practice in the Internet field are preparing to establish a blockchain-enabled IoT security standard working group to carry out blockchain and IoT research. Development of relevant standards for network security integration innovation.

"The intelligent transformation of traditional enterprises generally faces the dilemma of high R&D costs, low production efficiency, and insufficient operational capabilities. The current results of Changhong's transformation towards the Internet of Things show that it has blazed its own path in intelligent transformation .Changhong’s AIoT strategy is not only promoting its own transformation, but also empowering external parties to promote industrial upgrading. Overall, Changhong’s transformation and upgrading has made obvious progress: on the C-side, Changhong’s smart home solutions are constantly improving; on the B-side, Changhong It has won multiple industry championships, such as Internet of Things modules, rail transit power supplies, etc.," said Major General Ding, founder of Ding Technology.

"With the popularization of 5G, the Internet of Everything has entered the transformation track of traditional enterprises, and the construction of new business models has become an outlet for the upgrading and transformation of traditional home appliance giant manufacturing enterprises. In this transformation, Changhong Taking advantage of its traditional manufacturing advantages and the needs of the new era, Changhong has jointly formulated the 'Blockchain + IoT Security' international standard, which will enhance Changhong's own competitive advantage." Zhou Xibing believes.

The implementation of relevant standards is also of great significance.

The vertical applications of blockchain IoT involve many fields: industrial manufacturing, connected driverless cars, transportation, public technical facilities and smart cities, financial services and insurance, home and commercial property management, Smart contracts, retail, etc.

"In the future, home appliance giants will become important supports and even leaders in industrial manufacturing, driverless driving, smart cities and other fields, and they are playing an irreplaceable role." Sinosteel Economic Research Institute Senior researcher Hu Qimu said.

Major General Ding believes: "From a long-term development perspective, the industries and fields that this standard can affect will be quite broad. After all, the 'Internet of Things' itself should be an integral part of future production and life." Ubiquitous. In the short term, this standard will mainly provide standards and directions for the development of smart homes, smart wearables, and smart travel industries, as well as the digital transformation of the manufacturing industry.

(Editor Qiao Chuanchuan)

< p>Ⅲ Re-understand the blockchain: Enlightenments brought by more than 1,550 application cases

Author: Ran Wei

(This article is excerpted from the "2021 Global Blockchain Application Market Report" 》)

When we talk about blockchain, anyone who knows something about blockchain can more or less express some of their own opinions on related topics. For example: from technology From a system perspective, blockchain is a new application of computer technologies such as distributed data storage, point-to-point transmission, consensus mechanisms, and encryption algorithms; from a functional attribute perspective, blockchain is decentralized, cannot be tampered with, leaves traces throughout the process, and can retrospective, collectiveMaintenance, openness and transparency and other characteristics.

Looking back at the history of blockchain, there is no way around Bitcoin. On January 3, 2009, the Bitcoin genesis block with serial number 0 was born. A few days later, on January 9, 2009, Bitcoin block number 1 was born. When two blocks are connected, the blockchain is "born."

The inventor of Bitcoin, whose pseudonym is "Satoshi Nakamoto", may find it difficult to imagine: In the past 12 years, with Bitcoin as the center, a huge "cryptocurrency family" has spread all over the world. The financial market set off a "big wave" that continues to this day. During this period, innovation and risks related to cryptocurrency are intertwined, progress and bubbles coexist, and pursuit and criticism coexist, and it drives government departments of various countries to continuously improve the monetary and financial systems, social governance and supervision systems.

At the same time, the blockchain that accompanies Bitcoin is also evolving rapidly, and has long gone beyond the scope of "Bitcoin's underlying technology" and has been applied to every corner of social and economic development.

So, what mechanism does blockchain work through? What are its advantages compared to traditional technologies and models? What is its application effect? In the "2021 Global Blockchain Application Market Report" jointly released by Capital Lab and Yuanwang Think Tank, we tried to provide a certain basis for the above issues through research on more than 1,550 application cases around the world in 2020 and the first quarter of 2021. Empirical answer. At the same time, based on the study of these cases, we can establish a new understanding of blockchain: blockchain is trust, blockchain is sharing, blockchain is transaction, blockchain is substitution, and blockchain is efficiency.

In the Bitcoin creation paper "Bitcoin: A Peer-to-Peer Electronic Currency System", "Satoshi Nakamoto" repeatedly emphasized that Bitcoin has the characteristics of not relying on a "trusted third party". That is the characteristic of “decentralization”.

On the other hand, the underlying technology of Bitcoin, the blockchain, is precisely designed for "trust." In other words, reshaping "trust" in the digital age is the most basic function of the blockchain, but this trust has been transformed from trust between people and legal entities to trust between machines and machines. Trust between blocks and between nodes. Interestingly, the subsequent “smart contract” function has further strengthened this trust through its integration with the blockchain.

Identity coding and authentication are the first steps to achieve the above-mentioned trust mechanism, and the distributed identity (Decentralized Identity, DID) system is the core of it. With DID applications, everyone from individuals to organizations to IoT devices, from physical items to virtual products, can be given digital "identities" and achieve trusted interactions. It is precisely for this reason that blockchain-based certification, empowerment, verification, circulation, and transactions areOnly then can blockchain be implemented in various industries.

Application cases from around the world show that new trust mechanisms provide new rules and motivation for social and economic operations:

l China is comprehensively promoting blockchain electronic certificates Applications such as "one fish, one code", "one fruit, one code", "one tea, one code" and other applications are driving the global Anti-counterfeiting traceability of agricultural products and upgrading of food safety systems;

l Through the combination of blockchain, big data and artificial intelligence, the credit "portrait" of an enterprise is more accurate and can be obtained faster and more accurately. Lower-cost financing services;

l Charitable charity organizations have put charity funds "on the chain" to form a more transparent and standardized charity tracking and management system;

l Relevant cities in China have launched a blockchain-based gas cylinder product traceability management system, and the credibility of the source of gas cylinder file information and the level of gas cylinder safety management have been greatly improved;

l Germany is developing its distributed energy resources Assets establishes a digital registration system based on identity authentication to promote the development and trading of renewable energy and cope with the arrival of the digital energy era...

Among the three types of blockchains (public chain, alliance chain, private chain), alliance chain has been the most widely used. In addition to considerations of technical performance, operational efficiency, operability, expected results, etc., this is mainly because all parties in the alliance already have a certain foundation of trust. This also shows from another perspective that in blockchain applications beyond cryptocurrencies such as Bitcoin, "multi-centralization" rather than complete "decentralization" is a more realistic option.

In addition, it is undeniable that unlike the proof-of-work mechanism that Bitcoin “mining” relies on, the blockchain cannot completely ensure the integrity of the on-chain data from the source in the actual application process. Authenticity. In other words, a certain alliance member or node may provide false data intentionally or unintentionally. However, with the help of blockchain's non-tampering, traceability, multi-party consensus and other characteristics, the alliance can identify counterfeiting behavior and impose corresponding punishments, such as "kicking" the counterfeiting members from the nodes. Therefore, in a sense, blockchain-based trust largely establishes alliance members’ awe for the authenticity of data and deters data fraud.

If "trust" is the foundation of blockchain applications, data sharing is the core of blockchain applications. Without data sharing, there will be no cooperation, and the practical application of blockchain will be impossible.

l The State Administration of Foreign Exchange's "Cross-border Financial Blockchain Service Platform" pilot has been fully launched, promoted through information exchange among foreign exchange bureaus, taxation, banks and enterprise-related market entities.It has promoted the development of foreign trade export business;

l The "Preservation/Claims Alliance Chain" jointly established by 11 insurance companies in Taiwan has been put into operation, and each company has achieved "single application and common documents" on this platform;< br />
l Blockchain platforms such as Contour and TradeLens are reshaping the global supply chain through data collaboration among enterprises, financial institutions, shipping companies, terminals, customs and other institutions, and providing information for the digital transformation of international trade. power…….

l In China, through data collaboration, various government departments have realized "one data, one source, one source for multiple uses, one network, and full network operation";

l Through The "Judicial Chain" platform enables all types of electronic evidence to be seamlessly connected with judicial institutions such as notarization, arbitration, judicial appraisal, and courts, which improves the efficiency of the judicial system while reducing costs;

l Targeting grassroots nationwide The court's "cross-domain collaboration mechanism for trial auxiliary matters" can realize "cross-domain service and cross-domain evidence collection" between courts in different regions, effectively improving the efficiency of trial auxiliary matters and trial quality and efficiency, and reducing judicial operation costs... ….

l China's "Guangdong-Hong Kong-Macao Greater Bay Area Combination Port" project was officially launched, which can support the interconnection and interoperability of trade parties among the five major customs jurisdictions of the Greater Bay Area and become the first connected port in the Greater Bay Area , customs, logistics, enterprise, finance and other trade processes, interconnected and shared blockchain network;

l Japan's KDDI Telecom, Hitachi, Kansai Electric Power, Sekisui Construction and other large enterprises have established blocks Chain Alliance NEXCHAIN ​​to form a cross-industry real estate information sharing and management model and promote cross-industry innovation;

l The French Renault Group completed the test of its blockchain project "XCEED" for zero Sharing compliance information between component suppliers and automakers and simplifying compliance certification….

Although the above application cases in finance, government affairs and various industries are only a few typical cases, they are enough to illustrate that: on the one hand, data sharing is an inherent requirement of blockchain applications. In terms of specific implementation, everything must start from breaking "data islands" and "information asymmetry"; on the other hand, the application practice of blockchain has in turn promoted cross-level, cross-department, cross-industry, cross-region, and cross- Data sharing and unprecedented cooperation across national borders.

It can also be seen from the above cases that based on the transparency, security, trustworthiness and other characteristics of the blockchain, data sharing allows cooperation that originally seemed impossible to be achieved, and more Open innovation results; data sharing can effectively improve the operating efficiency of business systems, financial systems and social governance systems; various organizations promote their own organizational changes and process changes while sharing and cooperating with external institutions.

Based on trust and sharing, "transaction" is the most intuitive and deepest manifestation of the value of blockchain applications. Currently, blockchain is opening a new chapter in the transformation of transaction models in various industries around the world.

From a functional architecture point of view, blockchain-based transactions are by no means just a change in the transaction process, but integrate the unique functions of the blockchain, which are the key to anti-counterfeiting traceability, supply and demand docking, and warehousing. Integrated integration of blockchain applications such as logistics, payment/settlement, supply chain financing, insurance, and network security.

From the perspective of application form, blockchain-based transactions transcend the traditional concept of product or service transactions and represent the realization of the value of a wider range of data in circulation.

From the perspective of application scenarios, transactions based on blockchain involve the upgrading of the physical industry, the digital advancement of the financial industry, and the innovative application of the "token economy".

In the physical industry, take the application of agricultural blockchain as an example: on the one hand, supply chain traceability based on blockchain has become an important barrier to food safety; but on the other hand, for growers or For farmers, the supply chain traceability function is far from enough. How to help them expand the sales of agricultural products and obtain more income as much as possible is the "hard truth" for blockchain technology to continue to promote agricultural development. In other industries, the same applies.

Against the above background, new trading platforms in the global physical industry continue to emerge:

l The Indian government uses blockchain platforms to help farmers in remote areas sell agricultural products to reduce the While eliminating intermediate fees, obtain higher income;

l The Swiss company Cerealia builds a blockchain-based agricultural product trading and financing platform to promote the export of agricultural products in emerging market countries around the world;

l The world's largest independent refined sugar producer, Al Khaleej Sugar Company of the United Arab Emirates, launched DigitalSugar.io, a blockchain-based sugar product trading platform, to realize spot-based international raw sugar trading;

l Ganzhou, Jiangxi Province, has launched an international timber electronic trading platform based on blockchain, which will manage the entire timber transaction process on the chain, and will provide the timber market with full industry chain services such as cloud warehouse supervision, logistics, finance, and insurance;
< br /> l Shandong Province launched the Shandong Internet Traditional Chinese Medicine Trading Platform, which will use blockchain and other technologies to achieve online integrated services of quality control, trading, payment, settlement and supervision;

l Suzhou Phase Weitang Town in the urban area has released a blockchain-based pearl online trading platform, which will store the core parameters and test reports of pearls on the chain, and will also add functions such as supply chain management, trade finance, smart contracts, payment settlement, and incentive mechanisms;

l Honeywell launches aircraft partsGoDirect Trade, an online trading platform for new and second-hand parts, provides a valuable reference for large manufacturers on how to apply blockchain to parts trading and circulation...

In the financial industry, blockchain is promoting the digital advancement of financial transaction business in aspects such as securities trading, asset securitization, trade financing, and cross-border settlement:

l The Australian National Stock Exchange has launched ClearPay, a digital securities trading platform based on distributed ledger technology, which can provide multi-currency, real-time DVP settlement on the same day and will replace the original exchange settlement system;

l Switzerland The company Finka has launched a related securitization token investment platform based on livestock from organic pastures in Bolivia to promote the development of the local livestock industry;

l The American company Securitize has established a Japanese real estate investment platform based on digital securities , aiming to revitalize idle real estate in rural Japan and enhance the vitality of the rural economy;

l China Postal Savings Bank and China Construction Bank completed the first cross-blockchain platform forfaiting transaction, Hua Xia Bank Kunming Branch’s first Realize forfaiting resale business in the secondary market;

l Nanjing Iron and Steel completed blockchain-based iron ore transactions with Rio Tinto of Australia and Vale of Brazil respectively;
< br /> l Baosteel Co., Ltd. and Australia's Rio Tinto completed the first blockchain-based RMB cross-border settlement transaction...

Of course, while blockchain promotes the advancement of financial transaction business, dark sides such as hype, scams, money laundering, and cyber attacks related to blockchain and cryptocurrency continue to follow. How to continue to promote financial innovation while also carrying out efficient risk prevention and control and effectively cracking down on illegal crimes is an important issue that requires long-term response. From a global perspective, China has responded with clear attitudes, strict measures, and effective measures in this regard.

The transaction changes realized by the blockchain in the real industry and financial industry are only the initial stage of the blockchain changing the traditional transaction method. The "Token Economy" is the blockchain "transaction" A higher level of functionality.

Under the framework of the "token economy", from electronic certificates to skill certificates, from credit records to public welfare activity participation records, from social media tracks to carbon emission reduction actions, when various data become When an encrypted digital proof of rights is circulated and exchangeable, it is given the function of "token".

Regardless of the investment/speculation craze of "Non-Fungible Token (NFT)", we can already see many early applications of "token economy" around the world:

l The HotCity project supported by the Austrian government uses a crowdsourcing model combined with blockchain and gamification tokens to encourage residents to submit waste heat hotspots to meet urban heating needs more efficiently;

l Ford is establishing "green miles" for commercial and municipal fleets using hybrid vehicles to help improve urban air quality;

l Weibin District, Xinxiang City, Henan Province, is building on the Merchants and enterprises issue certificates through the points system to establish a new business service platform;

l Chengdu released a blockchain-based community governance product "Chain Community", where residents can participate in volunteer services and other activities Obtain "Time Bank" points from the platform and exchange them for benefits and discounts provided by community merchants;

l Electric vehicle charging network working group of the global non-profit organization "Mobile Open Blockchain Initiative" ( EVGI) launches a global standard system for decentralized car charging technology, covering Tokenized Carbon Credit (TCC) scenarios;

l Blockchain reward platform MiL.k cooperates with Korean retailers to provide Its members provide blockchain-based points management services. Members can convert existing points into local MLK tokens through the MiL.k platform, or exchange them into other third-party points...

As can be seen from the above cases and more, the "token economy" has several distinctive features:

The "token economy" gives assets to a wider range of data Attributes and tradable attributes, and through cross-domain and cross-platform mutual trust and circulation, can improve the operating efficiency of the entire social and economic system;

"Token economy" is a new value creation and The realization process does not necessarily use currency directly as the medium of exchange, but is more reflected in the exchange, mutual benefit and reallocation of various elements and resources;

"Token economy" is often combined with incentive mechanisms. At the same time, through incentives for "good people and good deeds", "good companies" and "good institutions", the social value system and social credit system will be effectively reshaped.

Generally speaking, the "token economy" will spawn new production factors, reshape production relations, and greatly liberate social productivity; the "token economy" represents the direction of the "information Internet" The evolution of the "Internet of Value" indicates the most exciting future of the digital economy; the "token economy" based on the blockchain has begun to take shape and has begun to bring changes to economic operations, social governance, and everyone's lifestyle. Continuously visible change. All types of institutions and individuals should be mentally and physically prepared for this change.

Like other new technologies, blockchain continues to produce platforms, media, models, and methods in the process of application and popularization.Substitution effects in other aspects: physical documents are replaced by electronic documents, credit records are replaced by certificates, manual review is replaced by data verification, urban management platforms are replaced by "urban brains"...

Such substitutions have become the norm:

l Argentina’s central bank has begun a proof-of-concept for a new blockchain clearing system, which may replace the existing clearing system;< br />
l Korea Minting and Security Printing Corporation (KOMSCO) expanded its blockchain digital gift certificate business to replace paper gift certificates and achieved record revenue despite a sharp decline in the issuance of banknotes and coins. Improvement;

l Courts across China have begun to use blockchain electronic seals to replace traditional paper seals in the enforcement of real estate seizures;

l The Shanghai court system is using artificial intelligence , the adoption of new technologies such as blockchain, and explore the use of digital court trial records to replace manual court trial transcripts;

l The Japanese company SUSMED launched a "Clinical Data Monitoring System Demonstration Using Blockchain Technology" pilot, indicating that the drug Or the necessary monitoring process in clinical trials of medical equipment can be replaced by a blockchain system;

l Alipay and Wukong Car Rental have cooperated to launch a "face-swiping" car rental service, which uses blockchain technology and credit-free security mode, tourists can rent a car by simply "swiping their face" and return the vehicle through mobile phone operations;

l Under the new crown epidemic, local governments in China have intensively launched "non-face-to-face" vehicles that combine blockchain technology ", no contact, zero errands" government service has replaced the traditional offline service method, providing a strong guarantee for the smooth progress of remote bidding, "cloud" customs clearance, financial support, resumption of work and production, etc. during the epidemic... .

In addition, we can also see that through the use of blockchain technology, various enterprise-level services are also realizing substitution and evolution: from paper contracts to electronic contracts, to program-based, Blockchain contracts that can automatically execute smart contracts. Blockchain is pushing contract signing into the era of "chain signing"; from offline human resources companies to online human resources platforms to the blockchain-based human resources market , global human resources services have experienced continuous changes from the 1.0 era to the 2.0 era, and then to the 3.0 era.

Generally speaking, when the blockchain "invades" various industries, it will "mercilessly" delete all unnecessary links and processes, all unnecessary manual operations, and accelerate the The era of paperless, unmanned and automated is coming.

In the process of our analysis of more than 1,550 blockchain application cases around the world, words like "improve", "accelerate", "shorten", "lower", "reduce", "save", " Words such as "save" appear frequently in front of our eyes. these wordsHui said that improving efficiency is the common pursuit of all parties involved in blockchain applications and is also the most direct result of the substitution effect of blockchain.

Numerous application practices are contributing to this:

l Kenyan company Shamba Records provides blockchain traceability, transaction and financing services to farmers in the country, currently covering more than 6,000 Small farmers and helped them increase their income by at least 40%;

l TradeWaltz, a blockchain trading platform invested by NTT DATA, Mitsubishi and other companies, completed a trial run, and the results showed that the platform can reduce traditional 50% of the workload of the trade process;

l Walmart Canada has significantly reduced invoice disputes with carriers by 97% through the application of the DL Freight blockchain platform;

l The State Grid Corporation of China’s power transaction certificate traceability inquiry platform was put into operation, automating the entire authenticity review process for registered users and saving 99% of the trustworthy manual review time;

l COSCO Shipping Lines and Shandong Port Group Qingdao Port have cooperated to launch a blockchain paperless import and delivery model, which can save customers nearly 24 hours on average per container;

l Taizhou, Zhejiang uses "materials" The "Internet + Blockchain" recycling system solves the problem of marine pollution control. Compared with traditional processing methods, this recycling system can save 94% of labor costs and 84% of operating costs...

In summary, through the joint action of trust mechanism, sharing mechanism and transaction mechanism, blockchain has formed an obvious substitution effect, improved the operational efficiency of finance, government affairs and various industries, and will Continue to create systemic change. This change is reshaping the relationship between people and machines, people and society, and people and the environment, and clearly points to three ultimate goals: efficiency, well-being, and environmental protection.

IV What is blockchain technology and what areas may it be used in the future

What is blockchain technology? Blockchain is a distributed shared accounting technology that allows all parties involved to establish a trust relationship at the technical level. Blockchain can be roughly divided into two levels: one is the underlying technology of the blockchain; the other is the upper-layer application of the blockchain, that is, the transformation, optimization or innovative application based on the blockchain.
Blockchain has been applied in several fields. In the first field of digital assets, in addition to some points and check-in cards we have seen, it also includes various other assets, and there is a process of asset digitization.
The second area is the field of trade finance. Because the field of trade finance is originally a multi-link and multi-party participation method, blockchain can greatly improve the efficiency of the middle, making many of the original substitutes effective.
The third area uses equity, which is company equity like some regional equity exchanges.The purpose of the transaction center is to facilitate the transaction of equity pairs and to make it more convenient for circulation. At present, the multi-center blockchain system can indeed improve efficiency and reduce costs.
Xinlian is an information platform for news and data mining that is vertical in the field of blockchain. I hope it will be helpful to you.

IV Does the cryptocurrency market still have a future?

Since the advent of Bitcoin in 2009, the concept of cryptocurrency has been greatly expanded. There is an explosion of new companies in the crypto space, and public interest is bordering on feverish. Of course, its underlying blockchain technology has improved greatly in more than a decade. Many people have started to believe in and use cryptocurrencies in their daily lives. By 2030, Deutsche Bank expects there to be 200 million Bitcoin users in the public sector. The mass adoption scenario for crypto enthusiasts is now closer to reality than before. Even during the COVID-19 outbreak, many cryptocurrencies such as Bitcoin have performed quite well compared to financial markets. The Rise of Blockchain Technology The use of blockchain technology is growing exponentially. Although DLT technology originated in the cryptocurrency field, it has been widely used in other industries, including healthcare, finance, and education. It all comes down to trust and immutability of associated data. It costs less because there is no middleman. But can these characteristics prolong industry growth? Looking at the progress of blockchain today, we have made five predictions about the future development of the technology and its prospects in 2030. The word "cryptocurrency" was only understood by a few people before, but now it is a household name. We predict that the value of cryptocurrencies will rise to $7 billion by 2030, more than three times the current market cap of $2 billion. It would be foolish for investors, businesses, and brands to ignore the growing crypto wave for long. These details are critical to understanding average consumer attitudes and predicting consumer behavior toward cryptocurrencies in a highly uncertain future. Governments can use virtual currencies with the help of blockchain. Governments will have to find a way to integrate some virtual currencies to keep up with current trends and participate in the accompanying economic growth. We already have examples such as digital currencies and Petromoneda, which are backed by Venezuela’s oil and mineral resources. These countries have developed their own digital currencies. Over time, the use of price-stabilizing tokens governed by monetary rules and backed by collateral will begin to gain momentum. Governments that have had less luck with cryptocurrency creation may turn to stablecoins. Global supply chains can benefit greatly from the use of blockchain technology. Current global trade is characterized by disjointed and unreliable corporate relationships. The gray market of medical devices, pharmaceuticals, clothing, auto parts, food supplies, etc. can be a source of life-threatening counterfeit products as many people die every year. Therefore, it is expected that most global trade will be conducted using blockchain technology. Before achieving this goal, blockchain technology needs to do several things. This will enable cryptocurrencies to grow in the ecosystem, thereby promoting economic growthlong-term and improve conditions and standards based on trust, immutability and transparency. Because it can be widely tokenized through the use of blockchain technology, only those who have had significant financial resources in the past can now make it available to the public. Luxury hotels are an example of an asset that requires a lot of capital and upfront risk. When huge assets are tokens, now everyone can own some income-producing asset. Tokens are becoming a reality at every level, as evidenced by NBA players converting their contracts into digital tokens. With the rapid development of blockchain technology, some exciting new things may appear in ten years. However, in the long term, it is feasible that blockchain will develop significantly due to the efforts of various developer groups. Directed Acyclic Graph (DAG) is considered as an alternative to blockchain. Faster transactions, no need for mining, etc. are considered some of its major advantages over blockchain. We’ve already seen some calling them the future of blockchain technology. In the future, consumers may have better choices than we think today. Time will prove everything. Blockchain Voting are two of the more interesting blockchain applications that claim to be a truly immutable ID system that can eradicate identity theft and even prevent voter fraud. From this vantage point, 2030 looks exciting.

VI How to use blockchain to build a commodity trading co-governance platform

As blockchain will bring about earth-shaking changes in the coming years, those who have the upper hand will With great opportunities, the days of the Frankenstein-like financial system are naturally numbered. Now the financial services industry around the world is full of all kinds of problems. It is built on technology platforms decades ago and looks outdated. Outdated, compared with the growth of cash, the fast digital world seems to be very fast, showing its slow and unreliable side from time to time. It has left billions of people without access to even the most basic financial tools outside the system. In addition, the highly centralized nature also faces the risk of data leakage, hacking, and total downtime, not to mention that its exclusive position naturally tends to maintain the status quo and inhibit innovation. Blockchain is not only a powerful tool to solve these problems, but also brings a lot of innovation, allowing entrepreneurs to find more new tools to create business value on this platform.

Six reasons why blockchain can have a profound impact on the financial services industry, break the existing exclusive structure, allow individuals and corporate organizations to have real opportunities to choose, and create a managed business value.

1. Efficiency of proof. For the first time in history, humans can complete commercial transactions without knowing each other and without a basis for mutual trust.

2. Cost. The network architecture of the blockchain completes the clearing and settlement work through point-to-point digital transfer, and these actions are continuously performed so that the ledger information is always maintained in the latest state.

3. Efficiency. Now it takes us three to seven days to complete the remittance and two to three days to complete the stock delivery. When applying for a bank loan, it usually takes a stifling 23 days to get it approved..

4. Risk management. Blockchain can mitigate many financial risks; checkout risk is just one of them. The other is counterparty risk, and the most important is systemic risk.

5. Value innovation. The purpose of establishing the Bitcoin blockchain is simple. It does not include other assets except Bitcoin. However, since the blockchain adopts the original code method, it also provides room for modification. Some people who pursue innovation are developing other projects. Alternative coins and blockchain scum must first compete with Bitcoin.

6. Open source. The financial services industry is a system that has been formed by stacking layers of early technologies on top of each other. Now it is crumbling. It is very difficult to promote change in this field now, because every time we improve this kind of engineering, we must go back. Blockchain is an open source technology. You can continue to pursue innovation and keep testing back and forth until you can do it. Achieve satisfactory results on the consensus of network architecture.

The above six advantages. It can change not only payment methods, but also securities, industrial investment, bank accounting and verification work. Venture capital, insurance companies, risk management, retail banking and other pillars that support the industry are also likely to keep up with the pace of change.

Ⅶ Justin Sun talks about how blockchain will change the way of investing in the future

According to current public information, not only has JPM Coin, the digital currency issued by JPMorgan Chase, begun testing global payments, but it has also established a new Bank of America's Bank of America is focusing on blockchain and digital currency businesses; Standard Chartered Bank continues to work in the areas of supply chain finance and payments; Citibank and Deutsche Bank have also added cryptocurrency options to the asset class. Especially in the hot field of Defi, new gameplay methods represented by superimposed staking and liquidity mining have allowed institutional investors to see the innovation and liquidity value of investment models in the field of crypto assets.

During the roundtable, when talking about the development of the industry, Sun Yuchen said that although the encryption field is not as hot as the bull market, due to the birth of Defi, a lot of capital has still flowed into the industry. The locked-up volume (TVL) has been continuously rising. However, issues such as the volatility of returns, asset security, and infrastructure convenience still exist and have hindered the participation of institutional investors.

In this regard, Justin Sun pointed out a new path: the first is the sustained fixed income he mentioned before, which is at least higher than U.S. Treasury bonds; second, institutional investors compare asset losses Sensitive, so secure investment custody is very important; third, the encryption field requires a more complete infrastructure than Defi. Justin Sun believes that as long as institutional investors can enter the encryption field, they will naturally discover its advantages and integrate into it.

Justin Sun founded TRON, one of the world's three largest public chains, in 2018. Currently, the number of users on the TRON ecosystem has exceeded 83 million, and the number of transactions has exceeded 3 billion. In addition, in April 2021, the stability of TRONThe fixed currency circulation has surpassed USDT on Ethereum and ranks first in the world, with more than 50% of the global market share and more than 50 billion US dollars in on-chain assets. In December 2021, the TRON network achieved full decentralization and established the TRON DAO community, becoming the largest decentralized autonomous organization in the world.

In addition, Justin Sun was officially appointed by the Grenada government as the Permanent Representative and Ambassador Extraordinary and Plenipotentiary to the World Trade Organization at the end of 2021, and was authorized to represent Grenada at WTO meetings during his term of office. During his term of office, Sun Yuchen stated that he will actively promote the integration of cryptocurrency and sovereign states to jointly build a safe, efficient and inclusive new financial system. At the same time, he will use his experience in the digital field to jointly respond to the new challenges of digital transformation in the post-epidemic era.

Since the spread of the epidemic, governments around the world, especially the United States, have begun printing massive amounts of money, raising new concerns about the health of the traditional financial industry and prompting institutional investors to turn to cryptocurrency alternatives. assets. The value of the encryption field has begun to be recognized by mainstream institutional investors. The popularity of the Defi project also shows us from another level the transformative power of blockchain. At the same time, there are also more new models including the Metaverse, NFT, etc., which have attracted the attention of various investors. As the crypto field continues to improve, the total market value of the entire crypto industry will continue to rise.