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发布时间：2023-12-14-17:06:00 来源：网络比特币基础区块链微信群

谁有区块链微信群,2021区块链微信交流群

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A. What are the well-known domestic blockchain media

There are 1,960 information-type blockchain networks in China and more than 90,000 overseas. If you directly access "Blockchain Network", you can see a large number of information blockchain websites like "Blockchain XX Network".

B. 111111111111111

Weiwuism: A New Business Guide

“The problem with the currency circle is that everyone wants to cut it. "Chives"

, Wei Wuism knew a student from the Black Horse Camp who owned thousands of Bitcoins and complained.

He has already penetrated upstream.

He is unwilling to participate in ICO issuance and does not open a currency exchange. He directly went to Iceland and Canada to buy tens of thousands of mining machines. Mine Bitcoin. He feels that from ICO to currency exchanges, it has become extremely chaotic now, with all kinds of bullshit and snake gods sharpening their knives.

The tipping point for this wave of craze was when Xu Xiaoping called on the founders he invested in the WeChat group to participate in the blockchain and "not to spread the word." With Xue Manzi, Cai Wensheng, Chen Weixing and other big names participating in the "3 O'clock Blockchain" WeChat group as the climax of the ban, "blockchain" began to impact hundreds of millions of people.

1. Blockchain Harvest Field

The myth that blockchain digital currency can create wealth a hundred times a thousand times has caused many people to suffer from "blockchain disease." However, most people who rushed in after listening to the lies of big bosses and the media eventually found that they did not make any money and instead became leeks. Wei Wuism has a friend who is a headhunter. He started investing in virtual currencies in August last year. As a result, he lost 80% of his principal by buying various counterfeit ICO coins at the end of the year.

Wei Wuism is lurking in various currency circles. Basically, the trading group is either talking about faith and persisting, or waiting for a rebound...

From the end of 2017 to the present, ICO currency issuance + exchanges have formed a crazy Harvest the market. The cruel food chain is like this:

Large exchanges harvest the money from ICO projects. Now if you want to get on a big exchange like Huobi or Binance, the cost of getting on the exchange will be at least 20 million yuan, more than 20 million yuan. Then 50 million yuan. With so much money, there are still many projects rushing to invest, because the increase in wealth it brings may be more than a hundred times.

Most successful ICO projects have paid a high cost and have to harvest a wave of money from ordinary users who participated in the investment.

Weiwuism here explains the process and stakeholders of an ICO project:

First, go to the Cayman Islands or Singapore to set up a fund as a capital operation platform for currency issuance and main body. Find a technical team to make the coins.

(The coins issued by most projects are Tokens based on ETH smart contracts, which have no technical content and can be operated by almost everyone)

Then, write a white paper to promote how awesome and valuable your currency is. Find cornerstone investors and private equity investors to invest, obtain initial funds, and establish a preliminary valuation.

Then find endorsements from big names and influential organizations, find media for publicity, and organize communities to build momentum.

Finally, go to the exchange to conduct the ICO. Those who engage in speculation (more than 95%) join forces with bookmakers to raise the value of the currency, and then cash out and leave. If you want to do something (less than 5%), you should manage currency value, maintain currency upgrades, and establish investor relationships.

For example, the TRON currency TRX, Sun Yuchen, a post-90s generation who is good at marketing, used this "air currency" with no value support, using methods such as publicity marketing and celebrity endorsements to increase the hype by 100 times, and then cashed out at a high level. 300 million U.S. dollars, harvested leeks, and went directly to the United States.

In the traditional "ICO + exchange" system, the entire system makes ordinary users become veritable leeks.

Just like the article "Bookmaker Du Jun" that hit the screen a while ago, it exposed the market loopholes in virtual currency investment:

Du Jun is the co-founder of the large exchange Huobi.com He is also the controller of blockchain media Golden Finance and blockchain investment fund node capital. In other words, in the ICO industry chain, they control the entire chain, use cornerstones and private equity investment to incubate the project, then use media to package the project, and finally push it to the exchange for investors to pay. They serve as both referees and players.

In such an "ICO + exchange" system, a few people have made huge amounts of money, but they have also harmed the entire currency circle and dealt a fatal blow to the blockchain industry. The recent ICO projects that have frequently failed to sell are the best accusations of "leeks". Even the star project IOST, which was incubated by Huobi.com, plummeted by 30% directly after the ICO...

2. To break the situation, the trading market needs to be upgraded from 1.0 to 2.0

In an emerging market, some players take advantage of market bugs to harvest tens of billions of new funds in a short period of time, allowing all new entrants to People have suffered heavy losses. Can this market continue to play? This is tantamount to killing chickens to keep warm.

How to break the current currency circle? Weiwuism believes that the interests of ordinary investors must be protected instead of treating them as leeks. A healthy market is not based on zero-sum game, but should focus on sharing the dividends of industrial growth.

At present, some people in the currency circle are aware of this problem. After the big guys and celebrity scammers came in and made a mess, some people started to use self-media to tell everyone not to buy altcoins. Some media organizations revealed The industry is shady, and new currency exchanges like Digifinex (shuzibi) are different from traditional currency exchanges harvesting leeks through various ICO currencies. They provide investors with smart investment advisory services. The ultimate goal is to help investors outperform the market. .

Remember a month ago, WeiwuismAsk Lao Tan, the founder of "Coin World" (one of the largest cryptocurrency investment media) about "menstrual issues" - "Is a certain currency worth investing in?".

As the founder of an institution that specializes in virtual currency, Lao Tan, a veteran in the currency circle, said that he has never heard of a certain currency, and they no longer know most of the currencies on the market. Know the status of the situation.

Nowadays, large digital currency exchanges, such as Huobi, Binance, CoinBase, etc., have more than 1,000 virtual currencies being traded, and 90% of the coins on the market are unknown coins, Lao Tan I was advised not to invest blindly but to do value research. However, in the face of such a chaotic market, it is difficult to do research, and it is not easy to avoid being cut off...

There is a saying that "a day in the currency world is a year in the world." The currency market is a fast 24/7 trading market. There is no circuit breaker mechanism or price limit. If you rely on individuals, it is easy to go wrong when trading, and you often lose 30% in a single sleep.

Digifinex uses big data + artificial intelligence, and has a large amount of algorithms and data to support quantitative investment, helping investors make decisions and hedging risks, rather than letting investors buy ICOs like traditional exchange joint projects. A large number of potentially risky coins. Digifinex also has a dedicated research team to conduct VC investment institution-level background checks on ICO projects. Coupled with smart investment advisory tools, this is one of the opportunities for ordinary investors to outperform the market. Wei Wushi has communicated with the Digifinex team. Some models of their quantitative strategy trading experts can still achieve monthly returns as high as 80%.

In the currency exchange 1.0 model, the system logic of Huobi and Binance is to incubate and promote ICO projects, ultimately collect money from ICO projects, deeply bundle interests in them, and cooperate with ICO projects in exchanges to attract Make money by cashing out high currency values.

2.0 currency exchanges like Digifinex (shuzibi) are not deeply tied to ICO projects. Instead, they help users judge risks and provide functional investment advisory tools such as quantitative investment to help users outperform the market and make money.

3. Digital currency should return to value investment

"Digital currency should return to value investment", this sentence will definitely be ridiculed by many people in the currency circle. What they are thinking in their hearts , when you can cut leeks, why don’t you make a little money? But Weiwuism still has to be said. Because this is the only cure for blockchain.

If there is industry self-supervision, supervision, and interest division, then ICO is not a bad thing. But we need to establish a healthy mechanism to find those 1% reliable ICO projects, instead of the entire mechanism serving speculators.

Human beings always overestimate the immediate value and underestimate the long-term value. This is true for blockchain entrepreneurship, and the same is true for investment in digital currencies. Speculation may bring short-term returns when the mechanism has loopholes, but in most cases it will fail or bring losses.Harmful.

Value investing can help you get the highest returns and satisfaction. For example, during the Internet bubble in 2000, Duan Yongping, chairman of BBK Group, purchased a large number of NetEase shares at a price of US$1. Today, NetEase's stock price exceeds US$300, and Duan Yongping has received hundreds of times in return.

The blockchain bubble is just like the original Internet bubble. How do we find "NetEase"? First of all, we need to explain more about how investors find the 1% reliable ICO model, such as impartial blockchain media and 2.0 currency exchanges like Digifinex that help investors judge high-quality projects, rather than the current model, which is like a pyramid scheme that generally attracts people to buy. Aircoin’s media, currency exchange, and community.

I hope that those who have this ambition and want to make the blockchain bigger will work hard in this direction just like Weiwuism.

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About

"Blockchain Cement Plant"

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Explain that investors make decisions and hedge risks, rather than allowing investors to buy a large number of potentially risky coins like the traditional exchange joint project ICO. Digifinex also has a dedicated research team to conduct VC investment institution-level background checks on ICO projects. Coupled with smart investment advisory tools, this is one of the opportunities for ordinary investors to outperform the market. Wei Wushi has communicated with the Digifinex team. Some models of their quantitative strategy trading experts can still achieve monthly returns as high as 80%.

In the currency exchange 1.0 model, the system logic of Huobi and Binance is to incubate and promote ICO projects, and ultimately collect money from ICO projects, deeply bundling interests inside, and cooperating in exchanges ICO projects increase currency value and cash out to make money.

3. Digital currency should return to value investment

Human beings always overestimate the immediate value and underestimate the long-term value. This is true for blockchain entrepreneurship, and the same is true for investment in digital currencies. Speculation may bring short-term returns when the mechanism is flawed, but in most cases it will fail or cause damage.

Value investing, talentHelping you achieve the highest rewards and satisfaction. For example, during the Internet bubble in 2000, Duan Yongping, chairman of BBK Group, purchased a large number of NetEase shares at a price of US$1. Today, NetEase's stock price exceeds US$300, and Duan Yongping has received hundreds of times in return.

I hope that those who have this ambition and want to make the blockchain bigger will work hard in this direction just like Weiwuism.

-----

About

"Blockchain Cement Plant"

-- ---

C. Which blockchain media are more professional?

1. Media that specializes in blockchain, such as Golden Finance and Babbitt, these media have more comprehensive content , with information, columns, trading data, strategies, etc., it can be regarded as a one-stop platform;
2. Senior self-media platforms, such as Mars Finance and Ambition Finance. This type of media often starts from the Internet and has a deep understanding of Bitcoin and blockchain;
3. Blockchain public accounts opened by some financial media;
4. Blockchain opened by Internet portals Chain sectors, such as Tencent Technology and Sina Technology, have already opened blockchain sectors.

D. Dalian Blockchain Digital Currency Group

Internet search Weilian, the first vunited is, the Internet is also available.
Specifically, it can develop virtual currency token app systems, mining systems, mainnet contract tokens, e20, and can also develop and package two ICOs, FantasyGold in the United States and Mjoy in China, and support large-scale telegram groups telegram New promotion

E. What are the more reliable blockchain projects now

MITx’s goal is to establish an enterprise-level blockchain platform as a service (BPaaS) and an Affiliated blockchain application marketplace. Enterprise-grade blockchain essentially enables businesses of all sizes to design, deploy and run distributed ledgers on our platform. You can even create your own blockchain innovation laboratory, equipped with the necessary infrastructure and a complete set of integrated tools, to enable low-cost blockchain application test drives. This is a good blockchain experiment and incubation platform. .
FASHIONET, as the world's first blockchain project aimed at transforming the fashion industry and establishing a new fashion ecology, attracted the attention of the fashion industry and blockchain circles upon its debut. Kim Chung, the Korean technical leader of the project-Ho said in an interview: "Fashion Planet organically combines blockchain technology with fashion AI. They complement each other and rely on each other to maximize their respective functional characteristics, solve a series of pain points in the fashion industry, and realize Transformation of the fashion industry.
At present, these two projects are developing very well.

F. The top ten most profitable blockchain APPs. Mining to make money is so simple!

< p> As network technology becomes increasingly mature, the word blockchain is mentioned by more and more people. In 2018, blockchain became the first choice project of many investors, and mobile blockchain software is also gradually increasing. Since 2013 There were dozens of blockchain companies in 2019, and now there are hundreds or even thousands of blockchain companies in 2019, which shows how hot the blockchain market is. In the minds of many friends, blockchain is something that can make them money. , yes, blockchain has indeed allowed many people to make money, but now there are many unscrupulous fake companies in the blockchain market, using the name of blockchain, but actually starting a business of deceiving people. So. Friends, when playing with blockchain, you should also keep your eyes open and choose a formal and trustworthy platform!

Today I have collected and sorted out 10 recently popular blockchains for you. Software, these platforms are all real and reliable, and each platform has a large number of users. If you are also a friend who likes blockchain, then don’t miss the content I bring!

After getting to know the blockchain, let’s start the main content and bring you an inventory of the ten most profitable blockchain software↓↓↓↓↓

G . Are there any better WeChat public accounts about blockchain knowledge? It is best to be more professional.

도주

H. Which domestic blockchain teams are better?

As the underlying technology of Bitcoin, blockchain deposits are very popular. Many financial giants, IT giants and Internet giants around the world are planning to enter this market. , the acquisition and financing events related to blockchain are increasing day by day.

Today’s blockchain is like a baby in its infancy. Bitcoin was born in 2009. As an emerging digital currency, Bitcoin has already It has experienced several "deaths" and "rebirths", but amid the turbulent development of Bitcoin, blockchain technology has gained infinite vitality and gradually penetrated into other industries. So, blockchain is really what we imagined So "cool"? Will blockchain subvert finance and other traditional industries?

Although there are still debates about the definition of blockchain in the industry, blockchain is decentralized and cannot be tampered with. However, its characteristics have been basically recognized. It is precisely based on these characteristics of blockchain that many people believe that blockchain will have the power to subvert tradition. In traditionalIn transactions, a centralized institution is often needed to solve the fundamental trust problem and conduct corresponding settlement. As a distributed ledger, blockchain means that it will produce a public ledger that can be viewed by everyone and cannot be tampered with. This method that does not require trusting a single node and can create a consensus network is considered to be promising for applications including finance and transportation. , collections, credit reporting and other fields.

However, what needs to be noted is that although there is endless news about blockchain, and major financial institutions are also actively deploying, today’s blockchain is still in its “initial stage”, and the areas where it has been implemented globally There are still very few blockchain applications, and fields of a certain scale are even harder to find.

How to accelerate the implementation of blockchain? This is the most important research direction of Puyin Blockchain Group. Puyin Blockchain solves the problem of blockchain application and how to connect with the real world, which greatly improves the circulation efficiency of digital assets. Judging from the law of technology development, any disruptive technology needs to move from the bustling concept stage to the challenging implementation stage, followed by multiple rounds of reshuffling of the entire market structure. Puyin Blockchain is a tough and tested force that changes the world in the form of asset digitization.

I. What are the reliable and recommended WeChat public accounts and WeChat groups in the blockchain field?

Contracts, transactions and their records constitute our socio-economic, legal and political systems important parts of. They protect our assets and define the boundaries of the organization. They form and authenticate our personal identities and various historical events. They manage a range of activities between countries, organizations, communities and individuals. They direct all administrative and social activities. But these critical tools, and the bureaucracy that governs them, have not kept pace with the digital transformation of the economy. It's like an F1 car suddenly encountering a big jam. In a digital world, our approach to regulation and administrative control must change.

Blockchain has the potential to solve this problem. As the core supporting technology of Bitcoin and other virtual currencies, blockchain is an open, distributed ledger that can effectively record transaction records between two parties, and is verifiable and permanently saved. The ledger itself can be programmed to automatically trigger transaction completion.

Five basic principles of blockchain technology

1. Distributed database

Blockchain Every party on the network has access to all data and its complete history. No one party controls the data or information. Each party can directly verify the records of all parties to the transaction, without the need for an intermediary.

2. Point-to-point communication

Each independent point can communicate directly without going through a central node. Each node can store information and pass all information to all other nodes.

3. Limited transparency

Users who have the right to enter the system can see each transaction and its value. Each node or user on the blockchain has a unique address consisting of letters and numbers, which can be used as the user's identity. Users can choose to remain anonymous or disclose their identity to others. Transactions occur between addresses on the blockchain.

4. Records cannot be changed

Once the transaction results are entered into the database, the account information will be updated accordingly, and the records cannot be changed, because this information is mutually exclusive with all previous transaction records. Association (this is where the term "chain" comes from). Various computational algorithms and methods are used to ensure that the records in the database are permanent, ordered in chronological order, and visible to everyone else on the network.

5. Computational logic

The digital nature of the ledger means that blockchain transactions can be linked to computational logic and can actually be implemented through programming. All users can set algorithms and rules so that transactions can be automatically triggered between nodes.

With blockchain technology, we can imagine a new world in which contracts are stored in a transparent and shared database in the form of digital programming and will not be deleted or deleted. To tamper with, to be revised. In such a world, every agreement, every process, every task and every payment will have a digital record and digital signature that can be identified, verified, stored and shared. Intermediaries such as lawyers, brokers and bankers are no longer necessary. Individuals, organizations, machines and algorithms are free to interact and transact with each other frictionlessly. This is the endless potential brought by blockchain.

In fact, almost everyone has heard that blockchain will have a revolutionary impact on businesses and will redefine businesses and the economy. While we remain enthusiastic about the potential of blockchain, we are also concerned that it may be overblown. It’s not just security issues (like the collapse of a Bitcoin exchange in 2014 and recent hacks) that worry us. The experience of studying technological innovation tells us that if there is a blockchain revolution in the future, there will be many obstacles - technical, governance, organizational and social obstacles. Reckless application of blockchain technological innovations without a true and thorough understanding of blockchain is likely to lead to a big mistake.

We believe it will take many years before blockchain can truly transform businesses and governments. Because blockchain is not a "disruptive" technology, disruptive technology can impact traditional business models with low-cost solutions and can quickly replace traditional enterprises. We believe that blockchain is a fundamental technology: one with the potential to create new foundations for our economic and social systems. But its impact is widespread, and it will take decades for blockchain to penetrate economic and social infrastructure. The process of blockchain popularization will be gradual.This process and its strategic significance will be the focus of this article.

Patterns of Technology Adoption

Before discussing blockchain strategy and investment, let’s recall what we know about technology adoption below process, especially the adoption process of other underlying technologies. One of the most relevant examples is the adoption of distributed computer network technology, namely the TCP/IP protocol, which laid the foundation for the development of the Internet.

TCP/IP first appeared in 1972 and gained widespread attention in a single use case: it emerged as the basis for sending emails between researchers on the ARPAnet, which was developed by the U.S. Department of Defense The predecessor of the commercial Internet. Before TCP/IP, the communication system architecture was based on "circuit switching". The connection between two parties or two machines had to be preset and maintained through a switch. To ensure that any two nodes can communicate, telecom service providers and equipment manufacturers have invested billions of dollars in dedicated lines.

TCP/IP completely changes the above model. The new protocol digitizes information and breaks it into many small packets, each of which includes address information. Once these packets are released into the network, they can take any route to reach the recipient. Data sending and receiving points in the network can decompose the data packets, reassemble the data packets, and interpret the data. This eliminates the need for dedicated lines or large-scale infrastructure. TCP/IP creates an open, shared public network with no central agency or body responsible for maintenance and updates.

Traditional telecommunications companies and related companies are skeptical of TCP/IP. Few imagine that data, information, audio and video can be established under a new system, and few imagine that related systems will be very secure and develop rapidly. However, from the late 1980s to the 1990s, more and more companies, such as Sun, NeXT, HP, and Silicon Graphics, used TCP/IP to develop internal local area networks within the company. In doing so, they developed technologies that transcended email and increasingly replaced traditional LAN technologies and standards. As enterprises adopt these newly developed technologies and tools, their production efficiency has been greatly improved.

In the mid-1990s, the emergence of the World Wide Web made TCP/IP widely used. Newly created high-tech companies began to provide the "tools"—the hardware, software, and related services necessary to connect to and exchange information with today's public networks. Netscape commercialized browsers, web servers, and other tools and components. Sun Corporation promoted the development of application programming language-Java. As information on the web grows exponentially, Infoseek, Excite, AltaThe emergence of Vista and Yahoo are guiding users to use TCP/IP technology.

Once this basic infrastructure is widely accepted, a new generation of businesses can seize the opportunity brought by low-cost Internet access to create more Internet services, which in turn helps to There are alternative business models. CNET brings news online. Amazon sells more books than any brick-and-mortar bookstore. Priceline and Expedia make buying air tickets easier and the entire buying process more transparent. These new entrants are expanding their business at very low costs, causing traditional businesses such as newspapers and physical retail stores to feel unprecedented pressure.

Relying on the widespread presence of the Internet, companies have created novel and revolutionary applications that are enough to fundamentally change traditional business models and create value. These enterprises are built on new P2P architectures and generate value by coordinating users of distributed networks. Consider how eBay transformed online retailing with its auction model, Napster transformed the music industry, Skype transformed telecommunications, and Google transformed web search by leveraging the links users form to provide more precise search results.

Many companies are already using blockchain to track goods along the supply chain. Ultimately, it took more than 30 years for TCP/IP to gain widespread acceptance—used alone, locally, as a replacement, and as a catalyst for transformation—and reshape our economy. Today, more than half of the world's most valuable listed companies have Internet-driven, platform-based business models. The foundations of our economy have fundamentally changed. Physical assets and proprietary intellectual property are no longer guarantees of competitive advantage; companies that lead economic development can play a key role, especially those able to organize, influence, and coordinate extensive networks of communities, users, and organizations.

New System

Blockchain - the P2P network on top of the Internet - was launched as the core foundation of Bitcoin in October 2008 Entering people's field of vision, Bitcoin is a virtual currency system that does not issue currency, transfer ownership and confirm transactions through a central authority. Bitcoin is the first real-world application of blockchain technology.

The similarities between blockchain and TCP/IP are obvious. Just like email allows people to exchange information, Bitcoin allows people to conduct transactions. The development and maintenance of blockchain is open, distributed, and shared—just like TCP/IP. A group of volunteers around the world maintain its core software. Like email, Bitcoin received enthusiastic support from the beginning, but only from a relatively small number of people.

TCP/IP has significantly reduced interconnection costs, thus creating new value for economic development. Likewise, blockchain can significantly reduce transaction costs. Blockchain has the potential to become the system of record for all transactions. if this becomes a reality, new enterprises based on blockchain technology will influence and control emerging industries, and the economy will once again undergo fundamental changes.

First, let’s take a look at how businesses operate today. Recording transactions is a core task that every business must do. These records track past activities and results and provide guidance for the future. They can provide insight into not only how a business works internally, but also how the business is connected to the outside world. Every business or organization will have its own records, and these records are private and confidential. Many companies do not have a general ledger record of all company activities; instead, all records are scattered within various branches or departments within the company. The problem is that reconciling transactions between individuals and private ledgers takes a lot of time and is also error-prone.

For example, a typical stock trade can be completed in microseconds without human intervention. However, settlement — transferring ownership of the shares — can take up to a week. This is mainly because no party has access to other people’s ledgers, and there is no way to automatically prove the owner of an asset, nor to automatically transfer assets. Instead, many intermediaries are needed to ensure the existence of the asset and to record the transfer of ownership of the asset.

In a blockchain system, ledgers can be replicated in many identical databases, each party will have a set of data, and stakeholders will also maintain records. When one party's data changes, all other copies of the ledger are updated at the same time. Whenever a transaction occurs, the asset type and value of the transaction are recorded in all ledgers. No third-party intermediary is required to prove or transfer ownership. If a stock transaction occurs on a blockchain system, its settlement will be completed within seconds, is extremely secure, and can withstand verification. (The vulnerability in the Bitcoin exchange hack was not in the blockchain itself, but in the separate systems that used the blockchain to connect the parties.)

A framework for blockchain to gain widespread acceptance

If Bitcoin is like early email, does it still take decades for blockchain to fully realize its potential? In our opinion, the answer is yes. We can’t predict exactly how many years it will take for change to occur, but we can guess what applications will emerge first and how widespread blockchain acceptance will eventually become a reality.

How basic technology gains wide acceptance

The popularization of basic technology usually has four stages. Each stage depends on the innovativeness of the application and the complexity of the coordination effort. Less innovative and less complex apps will be accepted first. More innovative and complex applications will take decades to become widely accepted, but they can have a revolutionary impact on the economy. TCP/IP technology, introduced by ARPAnet in 1972, has reached a period of transformation, but blockchain applicationsStill in the early stages of development.

In our analysis, history shows that there are two dimensions that influence the development of underlying technologies and their application scenarios. The first is its innovativeness—how new an app is to the world. The more innovative it is, the more effort it will take for users to understand its functionality. The second dimension is complexity, represented by the level of ecosystem coordination—how many agents are required to use the technology and how diverse the agents are to co-create value. For example, a social network is useless with only one user; it is valuable only if all your relationships are on the social network. Other users of the application must work together to create value for participants. For many blockchain applications, the principle is the same. And as these applications increase in scale and impact, their adoption will bring about major institutional changes.

We developed a framework to analyze the development of innovation according to the two dimensions mentioned above, integrating it into four quadrants. Each quadrant represents a stage of technology development. Understanding which quadrant blockchain innovation falls in can help company executives understand the challenges faced by blockchain, as well as the level of coordination and consensus required to adopt blockchain technology, as well as the necessary laws and regulations. efforts. It also illustrates what processes and infrastructure are needed to drive widespread adoption of an innovation. Managers can use it to evaluate the status of blockchain development in any industry and evaluate the company's problems with strategic investments in blockchain.

Independent applications

In the first quadrant are applications that are less innovative and less difficult to coordinate and can provide more Well, a lower cost, more professional solution. Email is a low-cost communication method that replaces telephone calls, faxes and traditional letter-writing methods. It is also an independent application mode of TCP/IP technology (even though its value increases with the increase in the number of users). Bitcoin is also in this quadrant. Even in its infancy, Bitcoin is only an alternative payment method for a small number of people. (You can think of it as a complex email that transmits not just information, but actual value.) At the end of 2016, the total market value of Bitcoin was expected to reach $92 billion. The overall global payment market size has reached 411 trillion US dollars. The scale of Bitcoin is still very small. However, Bitcoin is developing rapidly and is becoming more and more important in instant payment, foreign exchange and asset transactions. In these areas, the current financial system has limitations. sex.

Partial Application

Innovations in the second quadrant are relatively novel but only require a limited number of users to create value. , so the promotion and popularization of this type of technology is relatively easy. If blockchain follows the development path of network technology, we can expect blockchain innovations to develop local private networks through independent applications, so that multiple organizations can useA distributed ledger is connected.

Many of the initial private blockchain projects basically appeared in the financial field, and there were relatively few companies within the network, so there was not much coordination cost. Nasdaq is partnering with Chain.com, a blockchain infrastructure provider, to provide related technology for processing and confirming financial transactions. Bank of America, JPMorgan Group, the New York Stock Exchange, Fidelity Investments, and Standard Chartered Bank are testing blockchain technology in many areas such as trade finance, foreign exchange, cross-border settlement, securities settlement, etc. in order to replace paper-based manual transaction processing processes. The Bank of Canada is testing a digital currency called CAD Coin for interbank transfer services. We expect private blockchains to continue to evolve and provide specific service functions for various industries.

Alternatives

The third quadrant contains applications that are relatively less innovative but require a lot of coordination because they Involves widespread public use. The purpose of these innovations is to replace traditional business models, so these applications will face many obstacles; not only do such innovations require more coordination, but the processes they are replacing are also very mature and deeply integrated with current enterprises and systems. Examples include cryptocurrencies - a new type of money that originated from the Bitcoin payment technology. The key difference is that cryptocurrencies require all parties to a currency transaction to accept the technology, which challenges governments and mechanisms that have long been under traditional regulatory systems. Consumers will also have to change their behavior and understand how to use cryptocurrencies to realize their potential.

A recent MIT experiment highlights the challenges facing digital currency systems. In 2014, the MIT Bitcoin Club provided $100 in Bitcoin to 4,494 MIT undergraduates. Interestingly, 30% of students did not even register to receive this free money, and 20% of students who registered to receive it converted their Bitcoins into cash within a few weeks. Even tech-obsessed students have trouble understanding how and where to use Bitcoin.

One of the boldest alternative blockchain applications is Stellar, a non-profit project that aims to provide affordable financial services to those who have never had financial services, including banks. Business, micro payment, remittance. Stellar has its own virtual currency, lumens, and also allows users to save other assets in its system, including other currencies, airtime, and digital credits. Stellar initially focused on Africa, especially Nigeria, Africa’s largest economy. There Stellar has gained widespread adoption among its target user groups and at very low cost. But the future will not be smooth sailing because there are many difficulties in industrial chain coordination. While grassroots adoption is proof of Stellar’s viability, to become a banking standard it will also need to influence government policy and convince central banks and large corporations.industry use. This can take years of hard work.

Change

In the last quadrant are the most innovative applications that, if successful, will change the economic, social and political systems the essence of. This will involve the coordination of many entities, and it will also require unanimous support from large institutions in terms of standards and processes. The widespread adoption of such innovations will require significant changes in social, legal and political institutions.

“Smart contracts” are currently the most revolutionary blockchain application. Payments and transfers of currency or other assets are automatically completed when pre-agreed conditions are met. For example, as long as the goods are delivered, the smart contract will automatically pay the supplier. A company can indicate on the blockchain that a certain type of shipment has been delivered—or that a product has a GPS location that automatically updates its location, which in turn triggers a payment. We are seeing early pilot projects of this kind of self-enforcing contracts in corporate finance, banking, and digital equity management.

The implications of this are exciting. The company will be built on contracts, from registration to buyer-supplier relationships to employee relationships. If contracts were self-executing, what would happen to traditional corporate structures, business processes, and intermediaries like lawyers and accountants? What will happen to managers? Their roles will fundamentally change. Before we get too excited, we must remember that we are still decades away from widespread adoption of smart contracts. This would not be possible without the support of big business. There is a lot of coordination and explanation required regarding the design, verification, implementation and execution of smart contracts. We believe this will take a long time. And the technical problems, especially the security issues, are also very daunting.

How to guide blockchain investments

How should company executives consider adopting blockchain technology within their enterprises? Our framework helps businesses identify the right opportunities.

For many enterprises, the easiest thing is the independent application model, which minimizes risks because this model is the least innovative and rarely involves third-party coordination issues. One strategy is to use Bitcoin as a payment mechanism. The Bitcoin infrastructure and market are already very mature, and the adoption of virtual currency will also require many functional departments to strengthen their blockchain technology application capabilities, including information technology, finance, accounting, sales and marketing, etc. Another low-risk approach is to use blockchain internally for database applications, such as managing physical and digital assets, recording internal transactions, and verifying identities. This is particularly useful for businesses that want to collaborate between multiple internal databases. Testing stand-alone applications will help companies develop the skills to meet the requirements of more advanced application models in the future. And it is precisely because of the emergence of cloud technology blockchain services from startups and large platforms such as Amazon and Microsoft that testing is becoming increasingly easier.

Localized applications are the natural choice for enterprises in the future. We have also seen that many companies are now investing in private chain networks, and many projects have only a very short-term impact. For example, financial institutions have found that the private chain networks they develop have a limited number of trustworthy counterparties, which can greatly reduce transaction costs.

Enterprises can also use localized applications to solve specific problems in cross-border transactions. For example, many companies are using blockchain to track goods in complex supply chains. This is already used in the diamond industry, where gemstones can be tracked from mine to consumer. This technology already exists.

Developing alternative applications requires careful planning because current solutions are difficult to replace. One approach is to focus on alternative models that do not require end users to change their behavior, proposing alternatives to original expensive and unattractive solutions. At the same time, alternatives must have the same functionality as traditional solutions and be easy for the ecosystem to accept and adopt. The gift card developed by First Data based on blockchain technology is an example of a well-thought-out alternative product. Retail companies that provide gift cards to consumers can use blockchain to track the flow of currency within accounts without relying on external payment processors, which can significantly reduce the cost of each transaction and improve security. These new gift cards even allow balance and transaction privileges to be transferred between merchants.

Blockchain can significantly reduce transaction costs and reshape the economic development model.

Disruptive applications are still far away. But it still makes sense to assess the likelihood of disruptive applications and step up early investments now. Disruptive applications are very influential when combined with new business models in which value creation and capture are different from the current methods. This business model is difficult to adopt, but it can drive the emergence of future companies.

Consider how law firms will change if they adopt smart contract technology. They need to develop new skills in software and blockchain programming. They may also have to rethink their hourly payment model, considering a transaction fee model or a contract custody fee model, just two of the possible models. Whatever approach is taken, company executives must make sure they understand and test the business model implications before making changes.

Transformative scenarios emerge last, but can bring considerable value. They will have a profound impact in two areas: large-scale public identity systems for entry passport control functions, and algorithm-driven decision-making in preventing money laundering and complex financial transactions involving multiple parties. We don’t expect these applications to be widely adopted and popular for at least a decade or even longer.

Transformative applications will also drive the emergence of new platform companies that will orchestrate and manage new ecosystems. These companies will be the next generation of Google and Facebook. This requires patience to achieve.While it's too early to start thinking about large-scale investments, developing the necessary foundations—tools and standards—is still worthwhile.

Conclusion

In addition to providing a reference for the popularization of blockchain, TCP/IP also laid the foundation for the development of blockchain. foundation. TCP/IP is now ubiquitous, and blockchain applications are built on digital data, communication and computing infrastructure, which reduces the cost of experimentation and allows new use cases to emerge quickly.

Using our framework, company executives can figure out where to start preparing their companies for future blockchain adoption. They need to ensure that company employees understand blockchain, can develop company-specific application projects in the four quadrants we built, and invest in blockchain infrastructure.

However, judging from the development path of TCP/IP, time, obstacles to technology adoption, technology complexity, etc., company executives should carefully consider the risks in blockchain testing projects. . To put it more clearly, it is better to start small. But the scale of investment should depend on the current situation of the company and the industry situation. Financial institutions are doing well in adopting blockchain technology. Manufacturing is not ready yet.

No matter what, blockchain is likely to impact your business, the biggest issue is time.