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㈠ Why Hong Kong needs to develop blockchain technology and applications

The Financial Services Development Council (FSDC) established in Hong Kong in 2013 aims to provide information on the financial services industry Policy related guidance. The committee issued a report for discussion this morning, which recommended that the Hong Kong government take measures in several key areas.

If established, this plan will be linked to some of the efforts of Hong Kong’s de facto central bank.

㈡ When will Binance be available for download

August 5, 2020 - Binance Blockchain Asset Issuance Platform (Launchpad) announced the upcoming release of its third project in 2020, The Sandbox. The Sandbox is a community-driven virtual gaming platform that allows artists and creators to capitalize on assets and gaming experiences through blockchain technology.
After receiving a private placement investment from Binance Labs, The Sandbox (SAND), which will be launched on Binance Launchpad this time, will raise tokens worth US$3 million and will be issued on August 13, 2020. The lottery will be officially launched at 2:00 pm on the same day (Hong Kong time).
The Sandbox team is committed to building a unique virtual world that allows players to create, hold and monetize gaming experiences through SAND tokens. SAND tokens are utility tokens and non-fungible tokens (NFTs) of the platform. Holders of this token can participate in the platform’s decentralized autonomy (DAO) and project governance, and exercise voting rights to jointly promote Sandbox The ecosystem is complete.
“Imagine a highly creative world where you have the means to create and earn wealth at any time. By freely transferring, selling or creating whatever content you want, you can achieve whatever you want.” Sebastien Borget, co-founder and COO of The Sandbox, said, “This approach allows community content contributors, gamers and virtual world asset holders to truly own non-fungible tokens (NFTs), thereby gaining access to creation and dissemination. Digital content rights." Arthur Madrid, co-founder and CEO of The Sandbox, mentioned: "Our strategic cooperation with Binance is a huge progress. The strategic cooperation with the Binance ecosystem has brought us 2.7 billion gamers. This is of extraordinary significance in promoting the advancement of blockchain games into the mainstream world and lowering its access threshold."
"The potential of blockchain and encrypted assets will far exceed the imagination of existing finance. We start from games. We have already had a glimpse of the industry's innovation. Blockchain technology has become an important part of the game industry and may even change the global game industry pattern." Binance CEO and founder CZ (Changpeng Zhao) said, "We are veryChang welcomes The Sandbox to Binance’s ecosystem and hopes that we can work together to promote blockchain technology as the engine of leading technology in the gaming industry. ”
The Sandbox platform has established partnerships with 50 well-known gaming companies such as Atari, CryptoKitties and Shaun the Sheep. Binance has also decided to invest in the project through its investment arm Binance Labs to show its support .
“Games are an innovation-driven industry, and their continued commercialization of new technologies helps improve the industry’s asset model, security, and participation. "Gin Chao, chief strategy officer of Binance, commented on investing in the project, "The Sandbox project contains huge potential for innovation and is an effective bridge between the traditional gaming industry and the blockchain world. ”
In 2020, Binance Launchpad has successfully launched two projects, raising a total of more than $3.5 million.
About The Sandbox
The Sandbox is known as the world’s leading online virtual world creation The team currently has more than 40 senior employees, all of whom have more than 10 years of experience in building and maintaining games with millions of players participating in real-time. The Sandbox is a community-driven virtual game platform that allows artists and creators to Chain technology capitalizes assets and game experiences and gets paid for them. The Sandbox is scheduled to be officially released in December 2020. Based on the existing Sandbox IP (which has been downloaded more than 40 million times on mobile devices worldwide), The Sandbox will provide players with Provide a decentralized platform for creators to create immersive high-pixel worlds and gaming experiences, and better support creators to securely store, trade, and capitalize their creations through blockchain technology.
About Binance Launchpad
Binance Launchpad is a platform that provides exclusive token issuance for high-quality blockchain projects around the world, assisting the implementation of high-quality blockchain projects. Blockchain companies can connect to Binance’s tens of millions of users around the world through Launchpad. Users, receive all the resources and support of the Binance ecosystem.
About Binance
Binance is the world’s leading blockchain and crypto asset infrastructure provider with a full range of financial products, including trading volume A highly ranked crypto-asset trading platform. Trusted by millions of users around the world, Binance is committed to promoting currency liberalization and has launched a series of powerful crypto-asset products, including: trading and finance, education, data and Research, social welfare, investment and incubation, decentralization and infrastructure solutions, etc.

㈢ What are the requirements for registering a Singapore company?

Beijing Yaxin tells you how to register a Singapore company The following conditions apply:

1. Basic conditions:

Any natural person over 18 years old and of any nationality can apply for Singapore company registration;

2. Company shareholder conditions:

< p>There is no requirement for the composition of shareholders of a Singapore company. They do not need to be Singaporeans. They can be natural persons from any country. Non-Singaporeans can fully occupy the shares;

3. Requirements for company directors:

The board of directors of a Singapore company can be composed of two or more directors, but there must be one local director in Singapore;

4. Company name conditions:

Singapore company’s The name must be an English name. Chinese name registration is currently not accepted and ends with PTE.LTD.;

5. Registration address conditions:

Singapore company registration must use a real Singapore local name Register with your address. When you buy or rent an office in Singapore later, you can change this address to your registered address. If your registered address changes, you need to notify the Accounting and Corporate Regulatory Authority of Singapore within 14 working days;

6. Business scope conditions:

Singapore companies can choose one or two business scopes. If you need to operate more businesses, it is recommended that you register different companies;

7. Registered capital conditions:

The registered capital of a Singapore company starts from 1 Singapore dollar, and can be freely increased or decreased in the later period. There is no strict time limit on whether the capital is paid in full;

8 . Company Secretary Conditions:

After a Singapore company is successfully registered, it must appoint a company legal secretary within 6 months.

Local directors and company secretaries of Singapore companies must meet one of the following conditions (Asia Singapore can provide you with this):

Singapore citizens

Singapore permanent residents

Holding an Employment or Entrepreneurship Pass

I hope Yaxin’s answer can help you. If you have any questions about registering a company in Singapore, you can contact Yaxin for details~

< p>㈣ Where is ptah company

London. PtahDao is jointly controlled and operated by London LMR Partners Co., Ltd., New York LMR Financial Management Co., Ltd., Hong Kong LMR Business Information Services Co., Ltd., LMR Financial Investment Management Co., Ltd., Zurich LMR Technology Development Co., Ltd. and PTAH Technology Investment Co., Ltd. Under the impact and challenges of blockchain projects, traditional finance has also accelerated the pace of its own changes, using blockchain to achieve its own optimization and upgrading. 2022 is the first year of DAO. As a decentralized trust investment trading platform incubated by LMRPartners-web3.0 technology laboratory, PtahDAO is the breakthrough of blockchain technology and financial investment. In combination, the DAO governance logic and rules are implemented in depth to realize the concept of inclusive financial services and drive financial innovation. PtahDAO is a decentralized portal, intelligent social node, and intelligent network.An asset allocation method that perfectly combines advantages. It is an important step in the transformation of traditional financial and investment companies towards a three-dimensional layout of blockchain + financial diversified ecology. As the world's first DAO governance asset plan, it is a milestone. Therefore, it is an inevitable trend for PtahDAO to become a hot spot in the asset trust industry.

㈤ What does usdk coin mean?

1. USDK is a digital currency based on blockchain and trust license issued by oklink. usdk can be issued or sold with 1 US dollar, and then the assets held by Prime Trust are guaranteed on a 1:1 basis. The birth of usdk is not accidental, it was born in response to the needs of market development. Compared with USDT, it will be more stable.
2. USDK is exchanged with USD at a ratio of 1:1. Coupled with the supervision and management of the US government, stable currencies implement 100% reserves. For example, each USDK is exactly the same as the one in a specific account of Prime Trust. Corresponding to USD 1, every month the audit company will provide audit reports on funds on schedule to ensure the openness and transparency of fund transactions. Once regulatory authorities discover that there are problems with USDK transactions, the regulatory agencies can take law enforcement measures. Means to freeze trading accounts to ensure the safety of funds of other trading users. Therefore, usdk is more stable and secure than usdt. Only with the characteristics of "regulatory, auditable, open and transparent" can the credibility and value stability of this type of digital currency be maximized.
1. It is impossible to buy most cryptocurrencies with US dollars. Bitcoin, Bitcoin Cash, Ethereum, and Litecoin can be purchased with USD using Coinbase. Once you buy Bitcoin with Coinbase, you can transfer your Bitcoin to exchanges like Binance or Changelly to buy other cryptocurrencies, including USDK.
2. usdk coin is a stable currency based on blockchain and trust license launched by a subsidiary of Hong Kong main board listed company Qianjin Holdings Group. It is an ERC-20 digital asset jointly launched by OKLink and PrimeTrust. It is on the Ethereum blockchain It operates on the Internet, is issued and redeemed at US$1, and is guaranteed on a 1:1 basis by assets held by PrimeTrust. It is a real virtual digital currency.
3. Features of USDK currency:
(1) 100% reserve: At any time, the exchange of USDK currency and USD can be guaranteed at 1:1.
(2) Special fund custody: Each USDK coin corresponds to 1 US dollar in the Prime Trust special account.
(3) Regular account audit: The audit company provides regular fund audit reports every month to ensure fund transparency.
(4) Development based on blockchain: USDK currency is developed based on blockchain technology such as Ethereum, which is visible and credible.
(5) Safe, reliable and trustworthy: USDK coin smart contract has passed the industryWell-known auditing company Certik, Slow Mist Audit.
(6) Strong user base: Relying on a strong user base to bring higher liquidity to stablecoins.

㈥ Blockchain registration qualification

Digital collections or NFT platforms are specific applications built on the blockchain, engaged in commercial Internet information services, through The information network provides the public with digital works with publishing features such as editing, production, and processing. One Point and One Line will help you understand what qualifications are required to engage in these businesses. 1. Article 9 of the "Blockchain Information Service Registration" and "Blockchain Information Service Management Regulations" stipulate that if a blockchain information service provider develops and launches new products, new applications, or new functions, it shall report them to the state and government in accordance with relevant regulations. The Internet Information Offices of provinces, autonomous regions, and municipalities directly under the Central Government conduct security assessments. Article 11 stipulates that blockchain information service providers shall fill in the name, service category, and service form of the service provider through the Blockchain Information Service Registration Management System of the Cyberspace Administration of China within ten working days from the date of provision of services. , application fields, server address and other information, and perform the filing procedures. The platform can conduct the assessment on its own or entrust an assessment agency with corresponding qualifications, and submit a security self-assessment report through the National Internet Security Management Service Platform. 2. Article 7 of the "Value-Added Telecommunications Business License" and "Measures for the Administration of Internet Information Services" stipulate that those engaged in commercial Internet information services must apply to the provincial, autonomous region, or municipality telecommunications management agency or the information industry department of the State Council for Internet information services. Value-added telecommunications business operating license (hereinafter referred to as the operating license). The telecommunications management agency of the province, autonomous region, or municipality directly under the Central Government or the information industry department of the State Council shall complete the review within 60 days from the date of receipt of the application and make a decision on approval or disapproval. If approved, a business license shall be issued; if not approved, the applicant shall be notified in writing and the reasons shall be explained. After obtaining the business license, the applicant shall go through the registration procedures with the enterprise registration authority with the business license. 3. Obtain the "Online Publishing Service License" and Article 2 of the "Online Publishing Service Management Regulations" stipulate that online publications as mentioned in these regulations refer to publications that are provided to the public through information networks and have publishing characteristics such as editing, production, and processing. The scope of digital works mainly includes: (1) original digital works such as intellectual and ideological texts, pictures, maps, games, animations, audio and video readings in the fields of literature, art, science and other fields; (2) and published books , newspapers, periodicals, audio-visual products, electronic publications and other digital works with consistent content; (3) digital works such as online document databases formed by selecting, organizing, collecting, etc. the above-mentioned works; (4) State Administration of Press, Publication, Radio, Film and Television Other recognized types of digital works. Article 7 stipulates that those who engage in online publishing services must obtain approval from the publishing administrative department in accordance with the law and obtain an "Online Publishing Service License." 4. Obtain the "Information Network Audiovisual Program Dissemination License" or complete the filing procedures for the "Internet Audiovisual Program Service Management License"Article 2 of the "Administration Regulations" stipulates that the term "Internet audio-visual program services" as mentioned in these regulations refers to the activities of producing, editing, integrating and providing audio-visual programs to the public through the Internet, as well as providing services for others to upload and disseminate audio-visual programs. Article 7 stipulates that those who engage in Internet audio-visual program services must obtain the "Information Network Audio-visual Program Dissemination License" (hereinafter referred to as the "License") issued by the competent department of radio, film and television in accordance with these regulations or complete the filing procedures. 5. Obtain an "Internet Culture Business License". Article 8 of the "Interim Regulations on Internet Culture Management" issued by the Ministry of Culture stipulates that to apply to engage in commercial Internet cultural activities, an application must be submitted to the cultural administrative department of the people's government of the province, autonomous region, or municipality directly under the Central Government where the place is located. It shall be reviewed and approved by the cultural administrative departments of the people's governments of provinces, autonomous regions and municipalities directly under the Central Government. 6. Process the filing of network security level protection. Article 21 of the "Cybersecurity Law" stipulates that the state implements a network security level protection system. Network operators shall, in accordance with the requirements of the network security level protection system, perform the following security protection obligations to protect the network from interference, destruction or unauthorized access, and to prevent network data from being leaked or stolen or tampered with. Article 31 stipulates that the state’s control of public communications and information services, energy, transportation, water conservancy, finance, public services, e-government and other important industries and fields, as well as other important industries and fields such as public communications and information services, energy, transportation, water conservancy, and other areas once they are damaged, lose their functions or data is leaked, in the network security On the basis of the hierarchical protection system, key protection is implemented. Article 59: If a network operator fails to fulfill its network security protection obligations stipulated in Articles 21 and 25 of this Law, the relevant competent authorities shall give a warning; if it refuses to make corrections or causes consequences such as endangering network security, it shall A fine of not less than RMB 10,000 but not more than RMB 100,000 shall be imposed. Therefore, its operating or using units should go to the network supervision department of the local public security organ to complete the filing procedures. 7. Obtain an auction business license or cooperate with an auction company. If the platform is sold in the form of bidding auction, you should obtain an auction business license from the commerce department or cooperate with an auction company that has obtained an auction business license. 8. Business units engaged in art business activities as mentioned in the "Artwork Unit Business Registration Certificate" and "Artwork Business Management Measures" include: art acquisition, sales, and leasing business units, art auction companies, import and export business units, commercial Exhibition companies, appraisal and evaluation institutions, e-commerce platform companies, leasing platform companies, etc. that use information networks to engage in art business activities, investment and financing companies with art as their subject matter (including art fund trusts, art banks, exchanges, etc. ). and other units engaged in art business activities. Let me give you some popular science == ink paintings, traditional Chinese paintings, calligraphy, porcelain, purple clay pots, pottery, paintings, musical instruments, sculptures, sandstone, imitation sandstone, glass ornaments, iron art and other collectible items. These are all works of art. At present, the mainstream domestic digital collection NFT platforms do not support the opening of secondary market transactions, mainly because of concerns about excessive speculation, which will lead to stakeholder risks. If the platform opens secondary trading, then the platform becomes a "trading place". According to Guofa [2011] No. 38 "State Council's Notice on Cleaning up and Reorganization""Decision on Cleaning up and Rectifying Various Trading Places to Effectively Prevent Financial Risks" (Guobanfa [2012] No. 37) "Implementation Opinions of the General Office of the State Council on Cleaning up and Rectifying Various Trading Places" Transparent trading opportunities, a platform for orderly trading with strong sociality and openness. Therefore, to open a digital collection NFT platform for secondary market transactions, it is necessary to obtain a "trading place" license issued by the provincial people's government! If you have any questions about qualifications, please feel free to consult~

㈦ What is "blockchain"

< p> Blockchain technology is a technology that jointly maintains reliable databases through decentralization and elimination of trust. Four keywords can be used to describe blockchain technology: trust reduction, decentralization, collective maintenance and reliable database.

When we talk about the concept of "blockchain", Bitcoin is definitely a topic that will not be ignored. In recent years, Bitcoin has begun to enter the public eye, especially in 2017, which has continued to skyrocket throughout the year, making many people aware of this emerging thing.

Blockchain is actually the underlying technology of Bitcoin. Bitcoin exists because people on the Internet who don’t know each other can move and trade digital currency through the Bitcoin network. And this is driven by blockchain technology. All Bitcoin transactions are recorded on the blockchain ledger. To a certain extent, in the application of Bitcoin, the blockchain plays the role of the underlying database of the bank transaction system. Both are for "keeping accounts". Although it is not very prudent to refer to the blockchain directly as a "database", for the sake of ease of understanding, let's temporarily call it a decentralized, shared and encrypted database. If described in professional terms, blockchain is a distributed ledger technology.

Blockchain can usually be divided into the following types:

1. Public blockchain. Anyone can access data on a public blockchain, and anyone can issue transactions waiting to be written to the blockchain. Participants in the consensus process (corresponding to miners in Bitcoin at the time) maintain the security of the database through cryptography and built-in economic incentives.

2. Collaborative blockchain. The nodes participating in the blockchain are pre-selected, and there are likely to be good network connections between the nodes. Other consensus algorithms other than proof-of-work can be used on such a blockchain. For example, a blockchain has been established among a hundred financial institutions, and it is stipulated that more than two-thirds of the institutions must agree to reach a consensus. The data on such a blockchain can be either public or shared internally by these node participants.

3. Private blockchain. The participating nodes are only individual users, and the access and use of data are subject to strict permission management. Most of the internally used blockchain technologies announced by some financial institutions recently are vague and may fall into this range.

The blockchain is a public account book. There is no centralized hardware or management organization. Anyone can automatically verify the account.The authenticity of the ledger and easily detect whether the ledger has been tampered with by others.

In a word, the blockchain is a public ledger that can be verified by everyone.

The concept of being verifiable by everyone is crucial to blockchain.

Bitcoin uses the blockchain to record all transactions, so anyone knows the number of Bitcoins on each account.

So, as a publicly verifiable ledger, what are some use cases for blockchain?

In fact, there are many use cases that can be thought of. Blockchain is suitable for any data that can be recorded on a public ledger. Here are 4 examples:

1. Decentralized domain name server, namely domain currency. The domain name server is actually a ledger that records domain names.

2. Trustless public key encryption, such as https that discards unreliable certification authorities.

3. Ownership records, truthfully record the items and their corresponding owners.

4. Contracts and performance guarantees, the account book truthfully records the parties to the contract and saves the contract text.

But don’t forget that blockchain also has a very important component.

The ledger recorded using blockchain technology will always be updated. New data such as transactions, domain name inputs, records and contracts will be converted into hash values ​​of the same length by the hash algorithm and saved. However, hashing algorithms are not only not free but also very expensive.

Therefore, the ledger itself needs to have a recognition system to recognize the person who enters the block hash value.

In Bitcoin, this system is called mining and is rooted in the Bitcoin protocol. Bitcoin miners use a hash algorithm to convert transactions waiting for verification into hash values, and charge a certain amount of Bitcoin as a service fee.

Therefore, for non-monetary use cases, blockchain needs to find a way to bear the high cost of hashing algorithms.

I would like to remind everyone that my answer mainly focuses on the possible use cases of blockchain technology, and does not cover all aspects of blockchain, such as why hashing algorithms are so expensive. I'm sure you can find a lot of detailed information about Bitcoin and other blockchain applications online.

Supplement

Although blockchain technology has many advantages, there are still some less than ideal use cases. For example, there is no way to convert Bitcoin into any national currency; a ledger with billions of data entries would take up space and be impractical.

Bitcoin has shown the world that blockchain technology is feasible in principle, and people are also trying to solve these increasingly prominent problems, such as technological transformation of Bitcoin or the introduction of a completely Different blockchain technologies. I think the following two methods are worth trying: First, rootThe ledger is split according to certain standards such as the payer address. The second is to introduce a main blockchain to verify the sub-blockchain. Blockchain technology is ever-changing and dazzling, and it’s unknown whether someone is already making such an attempt. But Bitcoin is still the world's first currency blockchain, what others call a cryptocurrency.

Whether in the technology circle or the financial circle, blockchain has become the hottest word, no one. Blockchain has core advantages such as decentralization and trustlessness, and can perfectly solve problems such as information asymmetry, high transaction costs, and trust of strangers in the development of the sharing economy, making "individual economy" possible. Based on this, blockchain technology is considered to be the core technology that has the greatest potential to trigger the fifth wave of disruptive revolution after steam engines, electricity, information and Internet technology.

In this context, a blockchain craze was born in society, and everyone praised it overwhelmingly. Dialectics tells us that everything has flaws, and only by seeing the pros and cons of things can we make rational decisions. Therefore, in this article, Xue Hongyan (Hong Yanweiyu), a senior researcher at Suning Financial Research Institute, focuses on pouring some cold water on the blockchain.

| What is Blockchain

Blockchain, English Blockchain, has a rather mysterious technological flavor in its name, and can be simply broken down into "data blocks" and "links". Each data block contains all the information exchange data of the system within a certain period of time, and is encrypted using cryptographic methods; the link means that each block has a link relationship with the next block, thus forming a blockchain.

It is generally believed that blockchain has two major characteristics: decentralization and trustlessness. A brief introduction is as follows:

Since each block contains all the information exchange data of the system within a specific period of time, Therefore, each block is equal, and the damage of a single block does not affect the security of the entire system, so the blockchain has decentralized characteristics.

Similarly, since each block contains all the information of the system, the authenticity of the information can be cross-verified. Only by breaking through more than 51% of the nodes can the information be tampered with. In a large enough blockchain system , the cost is extremely high, it can be considered that the information in the blockchain is true, so the blockchain has the characteristics of trustlessness.

Most people’s understanding of blockchain begins with Bitcoin. The relationship between the two is that blockchain is the underlying technology and concept, and Bitcoin is only the most popular application of blockchain at present. .

Maybe the above is not popular enough. Finally, let me summarize, what do you think the blockchain is? Is it a disruptive new technology? NO! According to Xue Hongyan (Hong Yanweiyu), a senior researcher at Suning Financial Research Institute, blockchain is not so much a new technology as it is a new ideological concept. Information encryption and other technologies included in the blockchain have long beenYes, it is more of a conceptual innovation, which is why blockchain has such a huge impact. New technologies will be surpassed sooner or later, ranging from one or two years to four to five years; only innovative ideas have enough energy to affect all aspects of the economy and society.

| Blockchain is expected to change the underlying rules of the financial system

In applications in the financial field, blockchain will change the transaction process and record keeping methods, thus significantly reducing transaction costs. It has significantly improved efficiency and is considered to have a broad market environment in digital currency, cross-border payment and clearing, bill trading, securities issuance and trading, property rights transactions, customer credit reporting, anti-fraud, and anti-money laundering.

Such a good technology is naturally sought after by everyone. Like many traditional financial people, Hong Yanweiyu resisted it at first, thinking that this thing was not that great, and did not do any research specifically. Later, as the research on financial technology gradually deepened, it was discovered that blockchain was an obstacle that could not be bypassed, because whether it was robo-advisory, big data risk control or online lending, they were only technological innovations at the financial business level and risk control level. It has not penetrated the bottom layer of the financial system. What is the underlying layer of the financial system? Naturally, it is payment and settlement, transaction rules and system interaction. What the blockchain changes is precisely the underlying rules.

Therefore, throughout the world, financial institutions are the most active in researching blockchain. If nothing else, they are really afraid. After the decentralization and trustless features of the blockchain are fully utilized, what else will the intermediaries of financial institutions do? It is estimated that this is also the first feeling of many people who have a preliminary understanding of blockchain.

In this article, Hong Yanweiyu focuses on pouring cold water on this view.

| Subverting the financial system, blockchain still faces two mountains

Marxist dialectics tells us that everything has two sides. The more prominent the advantages, the more obvious the flaws. It’s just the perspective. Just different. The two major problems with blockchain subverting the financial system lie precisely in the two major advantages of decentralization and trustlessness.

First, let’s talk about decentralization. First, we need to clarify a truth. Does centralization necessarily mean low efficiency? Of course not. Within a specific scope, the concentration of resources brought about by centralization can greatly improve efficiency. This is also the reason why human beings evolve from individuals to villages to tribes and then to countries in the process of evolution. Take UnionPay as an example. UnionPay is the clearing and settlement center for the domestic banking industry. After UnionPay is established, each bank only needs to connect with UnionPay to realize transactions with all banks. If it is decentralized, without UnionPay, each bank will need to When communicating with all counterparties, which one is more efficient? Therefore, there is no need to beat centralization to death with a stick. The decentralization feature of blockchain is destined to only play a role in specific fields (that is, fields that are not suitable for centralization). How can it subvert everything?

Furthermore, it is a matter of trust. There is no problem with detrusting itself, but the technical logic behind it is veryDefects. Blockchain relies on universal accounting to achieve trustlessness, that is, all transaction information is retained in each block for system cross-verification to identify authenticity. Here comes the problem. Each block retains all transaction information. There is no problem on a small blockchain. However, as more and more information is added, it will inevitably lead to an explosive growth of transaction information and will also bring information. Dramatic increase in storage costs. At the same time, the greater the amount of information, the longer cross-validation takes and the lower the efficiency. Therefore, the blockchain solves the trust problem, but it brings about rising costs and declining efficiency.

Nothing in the world is perfect, and the same is true for blockchain.

As a conclusion, Hongyanweiyu wants to clarify that blockchain, as a conceptual innovation, does have great value and can also have a disruptive impact in specific fields. However, the current one-sided thinking about blockchain is problematic. Eastern wisdom tells us that "the most brilliant and the golden mean", in the face of anything, it is wisest to maintain the golden mean.

(Text/Xue Hongyan, senior researcher at Suning Financial Research Institute; WeChat public account: Hongyan Weiyu)

As early as a few years ago, the word "mining" came with Bitcoin is well known for its popularity. Many people know about Bitcoin first and then the blockchain, and they even don’t know about the blockchain yet. By definition, blockchain is a series of data blocks generated using cryptographic methods. Each data block contains information about a Bitcoin network transaction, which is used to verify the validity (anti-counterfeiting) and generation of its information. Next block.

I am not a computer technology expert. The following introduction to blockchain comes from reading and comments from expert friends and is for reference only.

If you want to use one word to explain blockchain, it is: distributed accounting.

To understand what this word means, you need to first understand that traditional accounting has a center. For example, in a bank, when you withdraw money from a bank deposit or lend money to others through the bank, the bank is the center, and all these transactions are based on the bank's credit. What if the bank cheats? Or is it more serious, is the country cheating? The Kuomintang's indiscriminate issuance of gold yuan coupons at the end of its rule in mainland China, as well as the hyperinflation in Weimar Germany and Zimbabwe, which made the currency less valuable than toilet paper, are very famous examples.

Golden Yuan Coupons

This is the problem that blockchain is aimed at. They believe that decentralized accounting is non-modifiable and non-repudiable. How to achieve decentralized accounting? The basic idea is that all users store all transaction records, making it very difficult to illegally modify the ledger through mathematical methods. In this way, the reliability of the ledger is guaranteed.

Specifically, all users exhaustively enumerate random number variables, and the first user who obtains a specific required hash function value (Hash) will have the right to recordAccount for this round of transactions and receive corresponding Bitcoin rewards. It is transmitted in the form of data blocks, and the data blocks are connected into a chain by appending at the end, so it is called a block chain.

After listening to the introduction, you may feel that this idea is interesting, but it is not as exciting or revolutionary as advertised. Your feeling is right. In fact, the basic logic of blockchain has some unavoidable problems.

For example, the current size of the complete Bitcoin public ledger has exceeded 150 G, and is rapidly increasing at a rate of tens of G per year - just to support 5 million users and 30 million transactions per year. If its processing volume is one day comparable to that of Alipay, the size of the Bitcoin ledger will increase by more than 500 terabytes per year. This is equivalent to backing up the Alipay server's storage data on all users' personal computers. Do you think this is a good idea?

For another example, in the traditional banking system, if you lose your password, it is no big deal. Just report it to the system in time, and your wealth will not disappear. But in the blockchain system, if you lose your password, it will be a huge trouble, and your currency will not be recovered. Not happy? Is it surprising?

Blockchain is a new application model of computer technologies such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithms. The so-called consensus mechanism is a mathematical algorithm that establishes trust and obtains rights and interests between different nodes in the blockchain system

In layman’s terms, it is playing mahjong. Four people can take turns to be the banker, and each other can shoot four people. They all have their own ledger records, but if you want to modify the ledger, you must have more than 50% of the modification rights, so the cost of cheating on the ledger is very high.

In the future, blockchain will be used more in finance to combat money laundering and fraud, because all information can be traced, and in culture it can be used for copyright protection, etc.

< /p>

I have seen a lot of people’s explanations of blockchain in official terms, and some may not even be clear to the person explaining it. I will explain blockchain in vernacular below to ensure that everyone can read it. Gotta understand.

What is blockchain? Let me give an analogy. In 50 years, you can buy an electric fan from the supermarket. This electric fan will automatically mine coins for you when it is blowing. You can mine coins automatically while using the electric fan. When you use this electric fan, When the fan breaks down, you can use the mined coins to repair the electric fan. Of course, you can also use the mined coins to buy a new electric fan. Many people think wrongly! Wouldn’t the profits of merchants be less? Let me tell you about a certain brand. When the products of this brand are sold to you, the products themselves may even be sold to you at a loss. However, once the number of users becomes large and the users become more sticky, they can be paid through membership fees or service fees. small fees or other ways to make money. Just like this, the mined coins can be purchased and repaired. Although the merchant's profit may be reduced, the merchant has gained more users and greater user stickiness. By this time, it only takes a minute for the merchant to make money.

And the electric fan you bought is equivalent to winding it up for you. What is winding up? If you put your electric fan on the street now, and 10 people come to snatch it, you have no way to prove that the ownership of this electric fan is yours. Once you put it on the chain, it is equivalent to being tied to you. Once it’s settled, you can prove it.

Therefore, the essence of blockchain is to help make people’s lives more convenient. It is equivalent to upgrading on the basis of the Internet, making it safer and more convenient. This is blockchain! It's that simple.

The security of the blockchain is reflected in its irreversibility and the data cannot be tampered with. We all know that in today's society, any data can be modified and conquered by hackers, but the data in the blockchain is impossible to change. Once generated, it cannot be modified unless all users in the blockchain work together. Agree to modify the data, but this is unlikely to happen.

At present, the blockchain is still very immature, just like the Internet bubble burst in 2000. When the bubble bursts, a truly valuable blockchain Internet will be hatched. company.

The wheel of history will not go backwards. Many people are unwilling to accept blockchain. Just like telling you that you can shop online 20 years ago, this is the same ridiculous thing. Time will eventually prove it. .

1. The main function of blockchain is to store information. Any information that needs to be saved can be written to the blockchain and read from it, so it is a database.

2. Anyone can set up a server, join the blockchain network and become a node. In the world of blockchain, there is no central node. Every node is equal and stores the entire database. You can write/read data to any node, because all nodes will eventually be synchronized to ensure that the blockchain is consistent.

3. Everyone works on the same blockchain, everyone publicly shares the current state of the blockchain, everyone agrees on the rules for new data submission and tampering with the blockchain is prohibited. It is difficult to operate in terms of computing power.

If we assume that the database is a ledger, reading and writing the database is an accounting behavior:

Anyone can verify this public ledger, but there is no single The user can control it. Participants in the blockchain system will jointly maintain the update of the ledger: it can only be modified according to strict rules and consensus, and there is a very exquisite design behind this.

(1) Accounting, the system will find the person with the fastest and best accounting within a period of time, let this person do the accounting, and then broadcast the information on this page of the account book to every other node in the entire network. This is equivalent to changing the database record; (consensus mechanism, cryptography)

(2) Verification, other valid nodes in the entire network check the correctness of the block accounting, and stamp it with a timestamp to confirm The block is legal; (timestamp, mathematics)

(3) Forming a single chain, that is, competing for the next block after the previous legal block; (smart contract, encryption technology)

< p> (4) Storage, the account book is stored in blocks. As transactions increase, new data blocks will be appended to the existing chain to form a chain structure; (distributed structure, information technology)

(5) Backup, every participating trader is a node of the block network, and each node has a complete backup of the public account book, which is a distributed ledger.

Features

1. The blockchain has no administrator and is completely centerless. It is precisely because it cannot be managed that the blockchain cannot be controlled. Without an administrator, everyone can write data into it. In order to ensure the trustworthiness of the data: the technology of blockchain makes it impossible to tamper with the data once it is written.

2. Close to zero trust cost.

The cycle time required for Internet companies to build their credit is extremely long. For example, Taobao often takes several years to build its credit. In the blockchain, everyone trusts the code, algorithm and rules, so the cost of trust is extremely low.

3. The marginal cost of constructing and trading assets approaches zero.

If traditional assets are to be used for trading, they need to rely heavily on third parties, such as investment banks, banks, securities firms, etc., for packaging and endorsement, and the fees and thresholds are extremely high. With blockchain, these will not be a problem, and the cost is extremely low.

The value transfer attribute of the blockchain also naturally solves the payment problem, and has the genes to support global payments.

Blockchain, simply put, is the underlying technology that supports ICO (virtual currency). The popular Bitcoin is an application of ICO. In other words, the connotation of blockchain is richer, and its main features are:

1. Blockchain is equivalent to digital trust. Both parties to the transaction can independently enter into digital contracts, and companies providing blockchain services are equivalent to Digital trust company;

2. The purpose and characteristics of blockchain are "3 de-intermediaries" - de-intermediation, de-currency, de-sovereignty; yes

3. Bitcoin is An application of blockchain, Bitcoin is a cryptocurrency, and all blockchains apply digital encryption technology;

4. The "3 Go" feature is targeted at the financial industry, and only when high frequency is required Blockchain is needed only in the financial field of transactions;

5. Large platforms with a user base are more suitable for applying blockchain, and small companies have little value in participating. Therefore, Zuckerberg’s 2018 New Year’s wish includes researching digital cryptocurrency. Kodak also launched a digital currency, sending its stock price soaring.

Furthermore, when it comes to Bitcoin, it can be cashed out and exchanged into the currencies of most countries. Users can use Bitcoin to purchase some virtual items, and they can also use Bitcoin to purchase real-life items. In this sense, Bitcoin is similar to the world's currency, close to gold.

Peter Thiel, co-founder of PayPal and an early investor in Facebook, believes that Bitcoin is "undervalued" by people and compares it to gold. He said: "If one day Bitcoin becomes the online equivalent of gold, then it will have room for appreciation."

But on January 3, the "People's Daily" published an article saying, "Whether it is from The increase can still be seen from the value of the currency itself. There is a bubble in the price of Bitcoin. This is an issue that needs no discussion." Data show that in the past 2017, Bitcoin has skyrocketed and plummeted: within a year, the price skyrocketed about 20 times, and in one day It fell more than 40% within the period.

Indeed, Bitcoin has risks. However, blockchain with richer connotations obviously still has greater room for development.

Last night, screenshots of Xu Xiaoping, founder of ZhenFund, encouraging the embrace of the blockchain revolution in an internal group were posted online. In his view, the blockchain revolution has indeed arrived. “I strongly encourage everyone internally to embrace the blockchain revolution and learn blockchain technology. This is my understanding after long-term observation and thinking. I feel responsible to tell our entrepreneurs. I don’t want my understanding of blockchain The views have been misunderstood as views on ICO."

However, in the context of Internet companies and investment institutions collectively entering the market, the government will definitely take measures.

Recently, the U.S. Securities and Exchange Commission (SEC) has expressed concerns about this and shelved the proposal of two U.S. companies to launch a Bitcoin exchange-traded fund (ETF).

In fact, this is only a matter of time. Because the "three-go" feature of blockchain is inherently contradictory to government centralization.

㈧ What are the requirements for applying to register a Singapore company?

Requirements for registering a Singapore company
As long as legal citizens are over 18 years old, they can apply for establishment. Singapore Private Limited Company.
There are no restrictions on the composition of shareholders of a Singapore private limited liability company, and they can even be all non-Singaporeans.
The board of directors of a Singapore private limited liability company may consist of one or more directors, but must include at least one local director [local director refers to a Singapore citizen [Singapore Citizen], a Singapore permanent resident [Singapore P.R.] or foreign entrepreneurs holding Singapore Entrepreneurship Pass [Entrepass].

Materials required to register a company in Singapore
1. Company name: The name of a Singapore company must be an English name. Chinese name registration is not currently accepted;
2. Registered address: A must for a Singapore company Provide a local registered address in Singapore. If the registered address changes, the Singapore Accounting and Corporate Regulatory Authority must be notified within 14 days;
3. Business scope: Singapore companies can choose up to 2 business projects;
4 . Registered capital: The minimum registered capital of a Singapore company starts from SGD 1, and there is no upper limit to the maximum. Singapore companies usually have no strict time limit for paying up their registered capital, and no stamp duty is levied. The registered capital can be in Singapore dollars or other commonly used foreign currencies;
5. Deadline of the first financial year: the first financial year of a Singapore company cannot exceed 18 months;
6. Shareholder status A copy of the company's ID card (or passport), shareholding ratio and a copy of the director's ID card (or passport);
7. Company legal secretary: Any company must appoint a company secretary within 6 months of its establishment.