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1. The outlook for technology ICOs, a new window to a world of trust

The Summer Davos Forum being held is a great opportunity for economic development that is undergoing changes. What a blessing. In addition to traditional issues such as continuous innovation and geo-economics, new technologies such as artificial intelligence and blockchain have also become the focus of discussion. At the same time, blockchain companies including Hcash Super Cash appeared in Davos, and emerging financial models began to play a more important role in the current economic structure.

Since the beginning of 2017, new terms such as blockchain and ICO have rapidly gained popularity, and many people who dare to try their luck have become rich overnight. Accordingly, some people sing praises for blockchain technology, believing that it will subvert the existing financial field and even have a positive impact on the entire world. Others believe that blockchain is the Sword of Damocles in the financial market.

Whether it is or not, with the support of public chains, private chains, alliance chains, quantum computing, anti-quantum cryptography, etc., blockchain has become a torrent and will affect everyone in it. And is this a man-made myth, or does it open a new window for us to a world of trust?

The ICO on the hot topic is a race against time and risk

IPO is a term familiar to many investors. The Chinese translation is "initial public offering of stock financing". In the blockchain market A similar form of financing has also been born, that is, initial public offering of encrypted digital token financing, which is called ICO according to the abbreviation of "Initial Crypto-Token Offerings".

ICO first appeared in 2014 and became popular in China in the second half of last year. According to a research report by "Smith+Crown", as of June this year, ICO projects have raised US$560 million, far exceeding the US$295 million raised through VC financing. VC, which has always been held up by entrepreneurs, eventually became the replacement for ICO.

The reason seems not difficult to understand. ICO is the product of digital currency and blockchain, which conforms to the general trend of Internet decentralization and can mobilize various funds distributed around the world. For example, blockchain startups can choose not to use company stocks or bonds as financing tools, but to issue their own digital tokens and exchange mainstream digital currencies such as Bitcoin and Ethereum through crowdfunding to achieve the purpose of financing entrepreneurship. .

Of course, while the outside world is extending an olive branch to ICO, there are also some voices of doubt, such as the innovation, responsibility, self-discipline, security, etc. of ICO companies. In fact, from the perspective of time and risk, popular ICO projects can be divided into three categories:

The first category is financial ICO. The customers of such projects are mainly Internet finance, which uses blockchain decentralization and distributed ledger technology to control risks. From the perspective of short-term benefits, financial ICOs have the greatest advantages, but of course they are also accompanied by greater risks.

SecondThe category is a commercial ICO. Such projects generally improve existing blockchain technology to form a new blockchain platform and attempt to create a new ecosystem on the new platform. In the medium term, the commercial promotion and research and development difficulties of such projects will be relatively low.

The third category is technology ICO. Such projects often propose new technical improvements and then apply them to existing blockchain platforms to optimize and improve security, sustainability and other aspects. The fascinating thing about technology ICO is that it has the strongest explosive power and takes the longest time, but it is the future development trend and therefore attracts more people's attention.

What is certain is that the rationality of the existence of virtual currencies has been recognized by most, and the possibility of the government issuing virtual currencies in the future is not even ruled out. Compared with traditional VC, the entire process of ICO is more transparent and cannot be tampered with, and produces a corporate governance method of national autonomy. For budding entrepreneurs, ICO is a more attractive financing channel than VC. For investors, ICO’s low entry barriers and considerable return on investment may be a rare piece of the pie.

How does Hcash “Super Cash” reshape the value of the blockchain?

In early June, Hcash, which held high the banner of "reshaping value", officially released the "HyperCash Chinese White Paper" to the world, and will establish a new underlying technology platform to link various areas. Blockchain technology allows trust-based value to circulate freely in different blockchain systems. It is precisely for this reason that Hcash "Super Cash" is regarded as a typical representative of technology ICOs.

The forward-looking nature of Hcash’s “Super Cash” lies in its advance layout of quantum computing attacks. This is a team composed of technical experts who have been deeply involved in the fields of big data, cloud computing, cryptography and blockchain for many years. In order to design and achieve the goals of the "super cash" system, Hcash has obtained the cooperation between Kuoyue Technology and Shanghai Jiaotong University Blockchain The help of innovative technology provides Hcash "super cash" with anti-quantum cryptographic technical support. It is true that as a promising technology ICO, Hcash "Super Cash" focuses not only on popularity and compatibility, but the ability to avoid risks is also an important guarantee for sustainability.

Currently, Hcash “Super Cash” has been launched for public sale around the world, which is a good thing for those paying attention to the blockchain field.

As economist Mr. Zhang Wuchang said, the basic rules of economic society are the rules of property rights. If you change the rules of property rights, you change the entire system. It is believed that with the joint efforts of many blockchain organizations and companies, the Internet will gradually evolve from centralized trust to decentralized trust with algorithms and data as the core. As centralized trust intermediaries are gradually weakened and replaced, the way the Internet operates will be changed by systems represented by blockchain. Perhaps the story is still a bit far away, but it has already begun to develop.

2.Microsoft, Hyperledger and the United Nations join the blockchain identity alliance ID 2020

Tech giant Microsoft and the blockchain alliance Hyperledger have joined the ID2020 alliance, a blockchain-based digital identity project.

The news was announced yesterday at the World Economic Forum in Davos, Switzerland, and the ID2020 alliance - which has also been joined by aid agency Mercy Corps and the United Nations International Computing Center - aims to provide Digital identity to improve people’s lives.

According to a press release, the group is developing solutions focused on giving users direct ownership and control of their personal data through the use of blockchain technology. The focus of the problem is that there are more than 1.1 billion people around the world who cannot prove their identity and therefore have difficulty accessing benefits and services. According to the World Bank, this situation also raises more serious issues such as human trafficking.

The project has so far received a $1 million donation from Microsoft, as well as donations from entities such as Accenture and the Rockefeller Foundation. Global consulting giant Accenture, one of the project's founding members, announced a $1 million investment last summer at the ID 2020 Alliance Summit in New York.

David Treat, general manager of Accenture’s global blockchain practice, said:

Decentralized, user-controlled digital identities have the potential to help refugees and other disadvantaged people unlock The potential for economic opportunity while improving the lives of those who just want to browse the web safely and privately.

The press release also explains that the digital identity owned by the user will include a legal form of government-issued identification and allow for seamless authentication of individuals and institutions.

3. What is blockchain

Blockchain is the underlying technology of Bitcoin. It is like a database ledger that records all transaction records. This technology has gradually attracted the attention of the banking and financial industries because of its safety and convenience.

4. In 2017 Summer Davos, who will be the new force in promoting economic development and implementing inclusive finance?

Financial technology is becoming the key to promoting economic development and implementing inclusive finance. A new force, this consensus has been formed. At the 2017 Dalian Summer Davos Annual Conference held recently, topics such as digital economy, financial system, and blockchain technology became the focus of discussion. Technological innovation and concept changes are increasingly affecting the development of the financial field.

At the sub-forum "Global Impact of China's Financial Reform", BoLi Fu'an, chairman of Hainan Bank, said that big data technology is changing the world. Financial institutions taking the road of online banking need to expand light organization business, use technology to optimize the approval process, and innovate risk management models.

5. Implications of the use of blockchain in oil trading

We may be facing the dawn of a revolution, which begins with a new, The fringe Internet economy. Klaus Schwab, founder of the World Economic Forum (Davos Forum), said that since the invention of the steam engine, electricity and computers, people have ushered in the fourth industrial revolution - the digital revolution, and Blockchain technology is the result of the fourth industrial revolution. As the next generation of trusted Internet, blockchain will surely subvert all businesses above it and completely revolutionize and innovate the entire Internet-based enterprises, ecology, and industrial chain. Jack Ma once said: "Many people haven't figured out what the PC Internet is. The mobile Internet is coming. Before we figured out the mobile Internet, the era of big data is coming again." Now, can we add a sentence at the end? : "People haven't figured out what big data is yet, and blockchain is here again."
Blockchain is essentially a decentralized distributed ledger database, the underlying technology of Bitcoin, and Bitcoin It is a relationship of companionship. Blockchain automation can reduce payment costs and shorten processing times, while the decentralized and open features help innovate within the platform and improve security. Financial institutions such as Goldman Sachs, Citigroup, and Nasdaq are actively exploring the application of blockchain in the financial field, and are vigorously deploying blockchain technology companies related to financial transaction clearing.
The "Wall Street Journal" hailed blockchain technology as the most important innovation in the financial field in "500" years. "William Gibson once said: "The future has already happened, it just hasn't caught on yet. "I believe that blockchain technology can lead the development of the computer and Internet fields in the next 5 to 10 years. We can already vaguely hear the thunder of revolution set off by blockchain technology in the near future.
We often say , Bitcoin and other electronic currencies with blockchain technology as the core are the main branches and manifestations of the technological finance that is exploding in full swing. If artificial intelligence robots will subvert almost all businesses of traditional banks, then digital currencies, especially blockchain Digital currencies such as Bitcoin with technology as the core will subvert central banks around the world. This will be a revolutionary and subversive event in the history of world financial development.
No, just when we were describing and talking about blockchain technology, something came out Blockchain technology has begun to be used in oil trading.
In late March 2017, Trafigura and Natixis, a trading company, were looking for cheaper ways to streamline trade processes and jointly tested the zone The use of blockchain in trading in the U.S. oil market shows how digital technology could transform crude oil tradingeasy. Trafigura and Natixis have been simulating blockchain operations using crude oil trading channels in Texas since November 2016. The technology can eliminate the tedious paperwork involved in oil trading such as sending contracts, letters of credit, inspections, etc. via email or fax.
Arnaud Stevens, global head of energy and commodities at French bank Natixis in New York City, said: "The purpose of using blockchain is to integrate work processes. Moreover, blockchain can also reduce time costs in oil trading."
This attempt is the first attempt of blockchain in the US oil market. In January 2017, Marco Dunand, CEO of Swiss Mercuria Energy Group, revealed in an interview with Reuters that the group had previously used blockchain technology to sell crude oil from Africa to China.
Blockchain is essentially a decentralized distributed ledger database. Blockchain automation can reduce payment costs and shorten processing times, while the decentralized and open features help innovate within the platform and improve security. This is the direct benefit and purpose of using blockchain technology in oil trading. Christophe Salmon, Chief Financial Officer of Trafigura, said: "Major oil traders and refiners should widely adopt blockchain technology. We expect that more people will see the potential business benefits of blockchain."
Another The head of a major commodities trader said: “Trade finance provided by banks in the form of distributed ledger databases such as blockchain can significantly reduce costs and improve security.”
Trafigura and Natixis Bank About The test of blockchain in oil trading is led by IBM. James Wallis, vice president of the blockchain technology company, said frankly: “The test does not actually require a lot of manpower and material resources.”
Mr. Stevens also said: “A huge trade network must be established so that the blockchain can be more efficient. Well integrated into the crude oil market. Currently, Natixis Bank has started discussions with oil traders and other commercial banks on how to use blockchain."
This kind of decentralization, transparency, openness, supervision, and traceability Characteristics such as this have marginalized traditional sovereign currencies. The huge significance behind this is as Kevin Kelly, the most famous "prophet" in the Internet field, pointed out in the book "Out of Control" that the trend of the future world is decentralization. Adam Smith's "invisible hand" is a good summary of the decentralized nature of the market. The straight-line distance between points is the shortest, and the best mode of communication between people should also be direct communication. No matter which aspect you approach, the nature of the decentralized market is irrefutable.
Point to point in a straight line, decentralized,Demultiplexing, sharing and symbiosis, transparent and open resource integration and allocation, visible and supervised by everyone, these can only be achieved by Internet big data and blockchain technology.
Human beings have indeed become “too tired” after thousands of years of complicated and complicated evolution. Industry 4.0 technology and the digital revolution represented by the Internet, big data, cloud computing, blockchain technology, artificial intelligence, etc. may bring mankind back to an "advanced primitive society" where relationship transactions are simple. This may be the biggest change, revolution and subversion that the digital revolution has brought to us.
The trend of the future world is decentralization! Blockchain may be an innovative technology to achieve decentralization, and decentralization took the lead in technology and finance.

6. What did Jack Ma say in his Davos speech

The following is the main content of his speech;
“We need to learn to get used to being rejected, even now. I am I was rejected more than 30 times when I was looking for a job. When I applied for a job at KFC, I accepted 23 out of 24 people, and I was the only one who was rejected. When I went to take the police exam, I was accepted by 4 out of 5 people, and I was the only one who was rejected. Later, I applied to Harvard and was rejected 10 times."

On January 23, in Davos, Switzerland, Jack Ma held a dialogue on "Insight and New Concepts" with the world's famous speaker Charlie Rose. Tickets for this forum were sold out within one second. According to the observation of on-site reporters, other forums at the same event had "no queues" in an instant, making it the most sought-after dialogue among all the dialogues at the World Economic Forum in Davos. The audience included Michael Dell, founder and CEO of Dell, Jinglun Lin, global CEO of DHL, Sun Yafang, chairman of Huawei, and other world-renowned political and business figures.

Rejected 10 times by Harvard: I’m used to being rejected

Jack Ma’s experience of constant failures when he was young eventually became the tried and tested inspirational chicken soup to persuade young people in the School of Success. I failed three times in the college entrance examination and twice in the high school entrance examination. These "disgraceful deeds" from those years have a different taste in the dazzling moments of my life.

When asked whether the experience of "these rejections" had an impact on his life, Jack Ma answered with a calm smile: The impact is that I am used to being rejected.

Jack Ma never seems to shy away from talking about the past. He even revealed more information about his rejection: I repeated my studies for 3 years and participated in more than 30 interviews, all of which ended in failure. I participated in the police recruitment and was accepted by 4 out of 5 people. I was the only one who was rejected. I even participated in the KFC waiter interview later. 24 people were interviewed, and 23 people were hired. I was the only one who was rejected. I applied to Harvard University 10 times and was rejected every time without exception.

No wonder some netizens commented: Some people are born with beauty, but Brother Ma, you are born with inspiration.

Alibaba is still a baby: Our IPO is quite small, only 25 billion US dollars

That isEven though he can admit without hesitation that he is CRAZY like Jack Ma, even though he raved to Wal-Mart executives five years ago that "we will be bigger than Wal-Mart in 10 years," Jack Ma still thinks Alibaba is "still a baby" today, "because it is relatively In terms of the heights we can reach in the future, our scale today is still an infant." Rather than saying he is modest, it is better to say that this is his confident declaration of Alibaba's future heights.

Jack Ma said that he hopes that people will forget Alibaba in 15 years, because Alibaba will be everywhere by then; people will forget e-commerce in 15 years, because e-commerce will be pervasive in life and will no longer be "New things" worth talking about; 15 years later, no one will talk about how e-commerce can facilitate people's lives, because e-commerce has been integrated into the blood of the economy and cannot be separated.

Regarding Charlie Rose’s invitation to evaluate the size of Alibaba’s IPO, Jack Ma smiled slyly: “Our IPO plate is actually quite small, a mere US$25 billion.”
< br />He went on to explain that behind the US$25 billion in financing is the trust from the world, "it puts a lot of pressure on me. Today, our company is bigger than IBM and Wal-Mart, and we are among the top 50 companies in the world. company."

"Are we really that great? In the past, people said that Alibaba was so bad that it couldn't be compared with Google and Yahoo. At that time, I knew that we were better than everyone thought. But now , I also know that we are not as good as everyone thinks. Alibaba only has a short history of 15 years, and the average age of our employees is 27-28 years old. We are doing something unprecedented." Jack Ma said.

Can’t marry the government: The government gives money for projects, but I don’t want to

I want to fall in love with the government, but I can’t get married. Jack Ma's remarks once triggered a wave of heated discussion and popularity. Today he once again explained it and even used a new word: interesting.

The relationship between Alibaba and the Chinese government is very interesting. In the first five years of starting the company, I worked part-time in the government's trade department for 14 months. While working with the government, I understood one truth: Do not rely on the government when doing e-commerce. I think you can "fall in love" with the government, but you can't "get married."

Jack Ma did not talk about what happened, which made him come to the conclusion that he cannot rely on the government during his "working with the government" Conclusion, but now the words "I haven't asked for a penny" are extremely high-spirited.

"I have never taken money from the government, and I have never asked for a penny." At first we wanted it, but the government wouldn’t give it to us. Later, I didn’t want it either. I think if a company only thinks about how to get money from the government and get loans, then such loans are worthy of being called scum! ” he said.

When asked what to do if “the government asks you to do a project”, Jack Ma’s approach is usually:The role of threading the needle is to introduce the project to friends. The host kept asking, "What if I insist on you doing it?" Ma Yun replied: Then I will do it, but I won't charge money. After I finish it, I will also tell them that I hope they won't come to us again in the future.

Jack Ma mentioned that Alibaba protected the train booking website during the "Spring Festival Transport" period, "without charging a penny." He said, "You may not know that during China's Spring Festival every year, tens of millions of workers and students take trains to return to their hometowns. Every time they buy tickets online, it is a very difficult process. In the past five years, the train ticket booking system has changed every time. It collapsed in a year. I did this project not for profit, but to help the millions of people in society who can’t buy train tickets."

The emperor of jokes and emoticons: There are some things But being casual is definitely not acceptable

Constantly making fun of himself, laughing at himself, and dancing around and winking, gave Jack Ma, the joke master, the title of the emperor of expressions.

He revealed the origin of his English name on the forum. At that time, he received a lady from Tennessee, USA. She said that Jack Ma's name "Yun" was too difficult to pronounce, so she wanted to help him choose an English name. She said, "My father's name is Jack, and my husband's name is Jack too. How about you also be called Jack?" Jack Ma happily accepted the name.

I have to say that the English name of this English teacher who is extremely fluent in English is even more casual than "Xiao Ming"!

The reason why Alibaba is called Alibaba is simply because of its "foreign style" and "easy to read". At the same time, Jack Ma also proudly showed off his little thoughts: "Alibaba starts with A, no matter how you rank it, we will be ranked first!" After listening to what he said, he discussed his "forbidden words" and "enlightenment" to the outside world. Those much talked about "miracles" suddenly became less difficult to understand.

Completely different from these random and willful actions, Jack Ma has always emphasized the importance of "credibility" in e-commerce. Having said this, I couldn't help but become solemn. "The key to e-commerce is trust. Many foreigners told me before that China uses relationships to do business, but the Internet does not require relationships. Without a credit system, there would be no Internet."

In the beginning, many people I hate Alipay’s method of freezing payments and said it was “the stupidest thing Jack Ma has ever done”, but it was finally done. "The origin of Alipay was very difficult. We initially wanted to cooperate with banks, but the banks were unwilling and thought it was simply whimsical."

Yes, many whimsical things happened in this way - —

Alibaba has changed many lives and often “gets treated” when going out

Like most startups, in the first five years of their business, Alibaba just wanted to survive. But slowly, Alibaba changed the lives of many people.

“I was very moved by those people whose lives were better because of us.” Ma Yun said, “Once I was eating in a restaurant, and when I was checking out, I found that the bill had already been paid. The waiter pointed to the restaurant in the distance. One person: He has already checked out for you. He also gave me a note left by the checkout person, which said: Thank you very much Alibaba. I have made a lot of money with this platform, but I know you have not made much money. So I’ll treat you to this meal!”

Another time, Jack Ma was in a cafe, and a stranger gave him a cigar with a note: Thank you, because of your company , I made a lot of money.

I believe that those who thought "Jack Ma didn't make much money" soon witnessed the day when Jack Ma became the richest man in China. However, what Jack Ma said about this is, "I became the richest man, but I am not happy at all. If I have the opportunity, I hope to be a teacher, enlighten and educate young people, and inspire them. I hope to educate them with my own examples. : No one can avoid failure, but if you keep complaining, you will never succeed."

7. What exactly is blockchain

What is blockchain?
Blockchain is a new application model of computer technologies such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm. The so-called consensus mechanism is a mathematical algorithm that establishes trust and obtains rights and interests between different nodes in the blockchain system [1].
Blockchain is an important concept of Bitcoin. It is essentially a decentralized database and serves as the underlying technology of Bitcoin. The blockchain is a series of data blocks generated using cryptographic methods. Each data block contains information about a Bitcoin network transaction and is used to verify the validity of its information (anti-counterfeiting) and generate the next block.
Blockchain was born from Satoshi Nakamoto’s Bitcoin. Since 2009, various Bitcoin-like digital currencies have appeared, all based on public blockchains.
The current situation of digital currency is that a hundred flowers are blooming. Here are some common ones: bitcoin, litecoin, dogecoin, dashcoin. In addition to currency applications, there are also various derivative applications, such as Ethereum, Asch and other underlying application development platforms, as well as NXT , SIA, BitShares, MaidSafe, Ripple and other industry applications.
On January 20, 2016, the People’s Bank of China Digital Currency Seminar announced that it had achieved phased results in digital currency research. The meeting affirmed the value of digital currency in reducing the issuance of traditional currency and stated that the central bank is exploring the issuance of digital currency. The expression of the People’s Bank of China’s Digital Currency Seminar has greatly enhanced the confidence of the digital currency industry. This is the first time that the five central bank ministries and commissions have expressed a clear attitude towards digital currencies since they issued a notice on preventing Bitcoin risks on December 5, 2013. [4]
12, 2016On March 20, the Digital Currency Alliance - China FinTech Digital Currency Alliance and FinTech Research Institute were officially established, with Huobi being one of the co-initiators. [5]
Some areas where blockchain can be used are:
▪ Smart contracts
▪ Securities trading
▪ E-commerce
▪ Internet of Things
▪ Social communication
▪ File storage
▪ Proof of existence
▪ Identity verification
▪ Equity crowdfunding
We can compare the development of blockchain to the development of the Internet itself , something called finance-internet will be formed on the Internet in the future, and this thing is based on blockchain, and its precursor is bitcoin, that is, traditional finance starts from private chains and industry chains (local area network), and the bitcoin series starts from public chains (Wide Area Network), they all express the same concept - digital assets (Digital Asset), and finally converge to an intermediate balance point.
The evolution of blockchain is:
▪ Blockchain 1.0 - digital currency
▪ Blockchain 2.0 - digital assets and smart contracts
▪ Blockchain 3.0 ——The implementation of distributed applications in various industries
Blockchain is divided into three categories, which is introduced in detail in the book "Blockchain: Defining the New Pattern of Future Finance and Economics" [2] issued by Currency, < br />Hybrid blockchains and private blockchains can be considered as broad private chains:
Public Blockchains (PublicBlockChains)
Public blockchains refer to: any individual or group in the world Transactions can be sent and effectively confirmed by the blockchain, and anyone can participate in its consensus process. The public blockchain is the earliest blockchain and the most widely used blockchain. The virtual digital currencies of all major bitcoins series are based on the public blockchain. There is only one blockchain corresponding to this currency in the world. .
Consortium (Industry) Blockchain (ConsortiumBlockChains)
Industry Blockchain: Multiple preselected nodes are designated within a certain group as bookkeepers, and the generation of each block is jointly performed by all preselected nodes. Decision (pre-selected nodes to participate in the consensus process), other access nodes can participate in transactions, but do not participate in the accounting process (essentially still managed accounting, just become distributed accounting, how many pre-selected nodes, how to determine the number of each block The bookkeeper becomes the main risk point of the blockchain), and anyone else can conduct limited queries through the open API of the blockchain.
Private blockchain (privateBlockChains)
Private blockchain: only uses the general ledger technology of the blockchain for accounting. It can be a company or an individual. It has exclusive write permission to the blockchain. This chain is distributed with other There is not much difference between storage solutions. (Dec2015) Conservative giants (traditional finance) all want to experiment with private blockchains, while public chain applications such as Bitcoin have been industrialized, and private chain application products are still being explored.

8. The era of intelligent robots is coming, which will soon trigger the fourth industrial revolution

Looking back on human history, every industrial revolution has brought about a great leap in the productivity of human society!

The first industrial revolution began in 1775, when Watt transformed the steam engine and mechanized production; the second industrial revolution began at the end of the 19th century, driven by the widespread application of electricity, which led to large-scale, assembly line production. The third industrial revolution began in the 1950s. The information revolution brought by computers enabled the automation of production.

Today, the fourth industrial revolution, centered on intelligence and information networks, is coming like a tsunami!

China already accounts for a quarter of the world’s industrial robots

It can be clearly said that China is fully equipped to achieve explosive development in the field of intelligent robots! This will be the first time in the past 200 years that China has a real opportunity to overtake in the industrial productivity revolution!

As long as we calm down and focus on the development of new technologies for the fourth industrial revolution led by intelligent robots, I believe that the Chinese people will be able to realize their long-cherished wish to overtake in corners!

Very short inspiration creative base | Text: Wan Shaoqing Pictures: The copyright of pictures from the Internet belongs to the original author.

9. What is it like to use blockchain technology for crude oil freight?

One of the world’s largest commodity traders, Swiss Mercuria A large-scale oil trading transaction equipped with blockchain technology will be tested for the first time.
The deal was announced by Mercuria co-founder and CEO Marco Dunand at the recently concluded World Economic Forum in Davos, Switzerland.
Dunand has previously said that blockchain technology will usher in “digital transformation of the oil and gas industry.” "I've seen enough bank presentations to believe that blockchain technology is reliable," he said at an industry summit last October.
Executive committee discussed existing trade issues at World Economic Forum panel The process is described as "outdated" by submitting the necessary paperwork required, which is essentially a document issued by the transporter acknowledging receipt of the shipment of goods and stamped by the master of the ship. The document then makes its way through customs, ports, appraisers and other checkpoints. If processing of the original document is delayed, the document will be accompanied by a Damage Indemnity Letter.
In contrast, Dunand believes that blockchain technology and standardized smart contracts will provide comprehensive solutions. In addition to reducing the time and effort involved in processing documentation, the costs associated with financing and physical transactions will also be significantly streamlined with the involvement of creditors and banks. Dunand estimates costs could be reduced by about 30%.
Therefore, with the introduction of blockchain, property rights can be transferred from the seller to the shipper to the buyer without a large number of cargo bill of lading documents.
Global trade will soon see the application of blockchain technology, starting with the oil industry.
The global scale trade industry is hampered by the lack of recognition of blockchain technology by authoritative institutions around the world, which is perhaps the only obstacle to the standardized application of this technology. (Bitcoin Home)
The tea standard was established by Pu'er Bank based on the original sovereign currency gold standard system. It is based on the generation of Tibetan tea assets and aims at the second generation of digital virtual currencies. At this stage, it includes token tea tickets. , financing tea tickets and listed tea tickets, an Internet financial ecological operation system.

10. How did the 2017 Summer Davos discuss "financial technology"?

The 2017 summer Davos discussed "financial technology" hotly, which proposed: promoting economic development, Practicing financial inclusion perspectives.

As a new financial industry, how Internet finance can implement the concept of inclusiveness and avoid turning reality into fiction is a topic of concern to all sectors of society. How to reduce information asymmetry is a must-answer question facing industry development.