区块链股票还有机会吗现在,区块链股票还有机会吗最新消息

区块链股票还有机会吗，这是当今投资者最关心的话题。本文将介绍三个相关关键词：炒股技巧、区块链技术发展、数字货币投资。

炒股技巧是投资者最关注的话题，也是投资成功的关键。在投资区块链股票时，投资者需要熟悉市场行情，掌握投资机会，并制定合理的投资策略。要想取得成功，投资者需要掌握一些基本的炒股技巧，比如把握买卖时机、控制风险、定期调整投资组合等等。

区块链技术发展是投资者应该关注的重点。区块链技术是一种分布式数据库技术，具有去中心化、不可篡改、透明公开等特点。它的发展与应用正在改变着传统的金融体系，也为投资者提供了新的投资机会。投资者可以关注区块链技术的发展趋势，以便把握投资机会。

数字货币投资也是投资者需要关注的话题。数字货币是一种新兴的虚拟货币，它们是基于区块链技术发行的，具有去中心化、安全性等特点，受到投资者的青睐。投资者可以通过数字货币投资来获取收益，但是这种投资也具有一定的风险，投资者需要慎重考虑再作出决定。

总之，区块链股票仍有机会，投资者可以通过熟悉炒股技巧、关注区块链技术发展、参与数字货币投资等方式，发掘投资机会，实现财富增值。

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1. Why do some people say that blockchain is an opportunity for ordinary people to make a fortune

With the recent increase in the popularity of currency, the country’s demand for the development of blockchain technology, More industries are pouring into the blockchain industry. Many companies in the securities market own blockchain stocks, and they all use the name of blockchain to provide a golden institution for face-to-face action. In the early days of blockchain, there were basically no professional investment institutions. Project parties often relied on the power of the community to raise funds, and ordinary people also had opportunities.

Some people say that blockchain is an opportunity for ordinary people to make a fortune. Think that the current blockchain circle can actually bring opportunities to the public. There will be opportunities if you participate. There are many free project platforms in the blockchain industry. You can get some tokens for free. As the value increases, you will make money. The blockchain currency circle also requires advanced awareness and insight, so that it is challenging and courageous to conduct in-depth research, learn its expertise, and learn the model rules of various platforms. You can earn money from this industry.

2. Is blockchain useful? What is the impact and prospects of blockchain?

I think everyone is familiar with blockchain. An emerging technology is no longer unfamiliar, because it is the most popular topic at the moment. Many big guys in different industries are analyzing its role and prospects. Today we also do something about blockchain. Is Fanji Chain useful and the analysis of the impact and prospects of blockchain, I hope it can help everyone.
Is blockchain useful?
1. Banking: As a digital, secure and interference-proof account, blockchain realizes the core function of the banking industry: a safe storage and transfer center of value. In other words, in the next few years, a wave of companies based on blockchain technology may affect the banking industry.
2. Payment and transfer: Blockchain technology can avoid complicated systems and create a more direct payment process between the payer and the payee. Whether it is a domestic transfer or a cross-border transfer, this method has its advantages. Low price, fast, and no intermediate handling fees.
3. Network security: Although the blockchain system is public, its verification, sending and other data exchange processes use advanced encryption technology. This technology not only ensures the correct source of data, but also ensures that the data is not intercepted during the process. If blockchain technology is more widely used, the probability of being attacked by hackers may also decrease, so people think that blockchain systems are more stable than traditional systems. One of the reasons why blockchain systems can reduce traditional network security risks is that they eliminate the need for middlemen.
4. Election: Everyone's vote "can never be modified or deleted by us - programmers, school administrators or students."
5. Smart contract: Smart contracts are actually on another object. A computer program that functions on the go. Like ordinary computer programs, smart contracts are also an "if-then" function, but blockchainTechnology enables the automatic filling of these "contracts" without manual intervention. Such contracts may eventually replace the legal merger industry's core business of drafting and managing contracts in both commercial and civil areas.
6. Stock trading: For many years, companies have been trying to simplify the process of buying, selling and trading stocks. Emerging blockchain technology startups believe they can go beyond the past, automating the entire process, improving security and efficiency.
What impact and prospects does blockchain have?
1. The dual impact of bringing wealth and risk:
The difference between blockchain technology and traditional Internet technology is that it chooses the high-risk financial industry as the entry point, but the financial field is full of Areas with many obstacles. Such direct entry has a dual impact: on the one hand, it can bring wealth effects to entrepreneurs relatively quickly; on the other hand, various risks will also come directly and violently.
2. Improve efficiency and reduce costs:
For physical finance, blockchain can maintain the fidelity in the process of transmitting information, such as personal credit information and other data, thereby avoiding many transaction costs and enabling large-scale Improve efficiency, this is the positive meaning it brings.
3. Control financial risks early and small:
Blockchain is cooperating with the innovation of digital currency, preventing over-insurance in the insurance industry, over-lending in bank mutual funds loans, and the integration of supply chain finance. , promote electronic identity recognition, etc., applicable to many industries and fields. In terms of financial security, many companies have also cooperated with regulatory authorities to build regulatory technology systems to help regulatory authorities monitor and provide early warning for the risks of Internet financial companies, so as to control financial risks early and at an early stage.
4. The owner of the data should be the user himself:
Blockchain is a technology worthy of attention, and it has relevant layouts in its own business and investment. Bitcoin and other electronic currencies are applications based on blockchain technology. They have certain currency functions and have certain use value. However, the main problem now is that the gap between the use value and the transaction price is too big. . ICO is a financing business model.
5. The darkest stage contains the most opportunities:
The darkest stage often contains the most opportunities. The application of blockchain is far more than just monetary and financial. For example, big data can be applied to the entire medical industry in the future. health field. If medical records and diagnosis data are shared to all different medical systems through the big data blockchain, the efficiency of treating diseases and saving lives can be greatly improved.
The editor believes that the correct development prospect of blockchain is to "talk less about financial innovation, focus more on financial security, focus more on inclusive finance, and do more on medical care, health, and environmental protection."
The above is the blockchain brought to you by the editor. Is it useful? What impact and prospects does blockchain have? all content.

3. How to make money with blockchain and what are its economic prospects

MLM.

4. What is the prospect of blockchain companies?

China’s blockchain market spending in 2019 will be close to 300 millionUS dollars

According to statistics from the "In-depth Analysis Report on Business Model Innovation and Investment Opportunities in China's Blockchain Industry" released by the Qianzhan Industry Research Institute, as of 2017, the scale of China's blockchain market expenditure was only 83 million Dollar. In 2018, China’s blockchain market expenditure will reach US$160 million. It is also predicted that China’s blockchain market spending will be close to US$300 million in 2019. At this stage, the overall market size of blockchain is small. This is because most of the blockchain projects on the market are in the experimental stage and the investment is not large. On the other hand, many companies have realized the potential of blockchain and plan to increase their budgets in the future. Affected by this, China's blockchain market will usher in rapid growth, with market expenditures expected to reach US$1.95 billion in 2023. The average annual compound growth rate from 2019 to 2023 is 60.51%.

Statistics and forecasts of China’s blockchain market expenditure from 2017 to 2023

Data source: Compiled by Qianzhan Industry Research Institute

Analysis of unfavorable factors for the development of China’s blockchain

1. The technology is not mature enough. At present, blockchain technology is not yet mature in terms of system stability, application security, and business models, and cannot meet the requirements of "high efficiency and low energy", "decentralization" and "security" at the same time. First, performance issues. The transaction throughput that can be carried out on the blockchain is not high, and the current block capacity is very small, which leads to network congestion and high-frequency business needs are difficult to meet. Many projects are also working on optimization, but they are far from real scenarios such as banks. There is still a certain distance between the transaction throughput of , stock exchanges, etc. Second, there is the issue of consensus mechanism. In terms of energy consumption, consensus algorithms such as workload proof consume a lot of energy and cost, causing the blockchain to waste a lot of computing power and matching power across the entire network. In terms of types, the current blockchain consensus mechanisms are too few in type and will be diversified in the future. In business scenarios, a richer consensus mechanism is inevitably needed to adapt. Third, security issues. Issues such as privacy protection, harmful information on-chain, smart contract vulnerabilities, consensus mechanism and private key protection, computing power attacks, cryptographic algorithm security, etc. all make the blockchain face a severe situation of platform security and application security. Fourth, database issues. Unlike traditional databases, blockchain applications require a large number of write operations, HASH calculations, and verification operations. Database systems specifically for blockchain are still difficult to overcome.

2. The application scenario is unclear

Currently, the blockchain project is still in the exploratory stage, and no specific implementation scenario can be found. At present, promising areas include finance, sharing economy, Internet of Things, public services, etc. However, judging from the maturity of existing blockchain technology, there are still many problems in blockchain applications, and there is still a gap between actual use. First, the immaturity of blockchain technology has restricted commercial applications. Although there are currently many types of core blockchain technologies such as privacy protection algorithms and consensus mechanisms, they are generally not commercially available. Secondly, the application model of blockchain is still being explored, and the “impossibility” of blockchainThe advantage of "substitution" has not yet been realized. The blockchain itself represents a consensus system, and a consensus system that conforms to the corresponding business scenario should be built from a higher level, not just "business + blockchain". China has a large number of users and complex business scenarios, and any commercial product will involve a very large flow and population. The current blockchain technology cannot satisfy it.

3. Scarcity of professional talents

Blockchain technology is a multi-disciplinary and cross-field technology. Its involved fields mainly include operating systems, network communications, cryptography, mathematics, finance, production, etc. However, at present, there is still no cross-disciplinary and cross-field technology in our country. There are deficiencies, and the supply of talents in related fields is seriously insufficient. On the one hand, there is a large gap in R&D technical talents. Blockchain technology research and development mainly focuses on programming languages ​​​​such as Go, Javascript, C and C+, and new smart contracts use Haskell, Ocaml, Rholang and other new functional programming languages. In China's talent market, there is a very large gap in technical talents with senior R&D experience in related languages. On the other hand, there is a lack of underlying design talents. Unlike R&D technical talents, the design of the underlying system architecture of the blockchain Talents must master multiple cross-disciplinary professional skills. They must not only have a deep understanding of the underlying design principles of the blockchain and have experience in the design of various system architectures, but also master the business logic of specific application scenarios. Although some colleges and universities have already launched cross-disciplinary education , Blockchain special skills and disciplines are set, but professional talents are still very scarce.

Analysis of favorable factors for the development of China’s blockchain

1. Favorable policies promote development. January 2017 , the Ministry of Industry and Information Technology issued the "Software and Information Technology Service Industry Development Plan (2016-2020)", which proposed requirements for innovation in blockchain and other fields to reach international advanced levels. In August 2017, the State Council issued "About Further Expanding and Upgrading Information Consumption Sustainability" "Guiding Opinions on Unlocking the Potential of Domestic Demand" proposed to carry out pilot applications based on new technologies such as blockchain and artificial intelligence. In October 2017, the State Council issued the "Guiding Opinions on Actively Promoting Supply Chain Innovation and Application" and proposed to study the use of blockchain , artificial intelligence and other emerging technologies, and establish a credit evaluation mechanism based on the supply chain.

In March 2018, the Ministry of Industry and Information Technology released the "Key Points of the Standardization Work of Informationization and Software Service Industry in 2018", proposing to promote the establishment of a national informationization and Industrialization Integration Management Standardization Technical Committee, National Blockchain and Distributed Accounting Technology Standardization Committee. In June 2018, the Ministry of Industry and Information Technology issued the "Industrial Internet Development Action Plan (2018-2020)" to encourage the promotion of edge computing, deep learning, Research on the application of emerging cutting-edge technologies such as blockchain in the industrial Internet.

Since blockchain was first included in the "13th Five-Year Plan" National Informatization Plan in 2016, blockchain has become increasingly popular among the country. With the government's attention and attention, 24 provinces, cities or regions including Beijing, Shanghai, Guangdong, Hebei, Jiangsu, Shandong, Guizhou, Gansu and Hainan have launched dividends.Policies, carry out the layout of the blockchain industry chain, and actively explore industry applications based on blockchain.

2. The blockchain industry is gradually taking shape

At present, my country’s blockchain technology continues to innovate, and the blockchain industry is gradually taking shape, starting in supply chain finance, credit reporting, and product traceability. , copyright transactions, digital identity, electronic evidence and other fields are expected to promote technological changes, organizational changes and efficiency changes in our country's economic system, making important contributions to building a modern economic system. With the continuous influx of entrepreneurs and capital, the number of enterprises has increased rapidly. Blockchain applications will be implemented faster, boosting the high-quality development of traditional industries, accelerating industrial transformation and upgrading, using blockchain technology to "reduce costs" and "increase efficiency" for the real economy, and promote the standardized development of traditional industries. In addition, blockchain technology is deriving into new business formats and becoming a new driving force for economic development. Blockchain technology is promoting a new round of business model changes and becoming an important support for building an honest social system.

3. Broad application prospects in the future

In the past, the circulation of physical banknotes was difficult to trace, but with the application of blockchain technology, the flow of all digital assets can be traced There will be "chains" to check. For example, in the financial field, blockchain is expected to solve the pain points and difficulties in the payment field, reduce the complexity of transactions, increase the end-to-end speed of transactions, reduce communication costs in the transaction process, and improve the transparency and non-tamperability of transaction records. The cost of reconciliation, clearing, and settlement between financial institutions, especially cross-border financial institutions, has always been high, and there are complex manual processes. Blockchain technology has data that cannot be tampered with and is traceable, and its application can help reduce financial costs. The cost of reconciliation and dispute resolution between institutions can significantly improve the processing speed and efficiency of payment business, and also make small-amount cross-border payments possible. In addition, the application of blockchain will also extend to many fields such as medical health, education, charity, social management, etc. The market prospects are very broad.

5. Can you make money by investing in blockchain now? Is it risky? How big is the risk?

First, there is the risk of absconding with money, and the assets raised lack auditing and custody. Now a standard ICO is like this. A white paper is issued for everyone to read, and then it is over as soon as it is launched. There are still many potential rules. For example, in the past few years, there were many situations where an ICO project came out, everyone invested a lot, and then disappeared after it was completed. So far, this is still the case. Therefore, there is still the risk of the project proponent absconding with the money.
Second, the risk of over-commitment. The traditional IPO is that the company has to do well, and everyone can see it clearly when I go to sell it. With ICO, I write a few pages of paper to talk about what I plan to do and what functions I want to achieve, and then everyone gives me the money. Whether it can be implemented well is actually a question mark.
Third, there is the risk of overvaluation. At present, a very detailed or convincing pricing mechanism has not yet been formed. Most of them are produced by project initiators based on the needs of project development or their own understanding.When pricing arises, there may be a so-called periodic issue of artificially high investment.
Fourth, investors are too optimistic. Investors may see more space for future ICO projects, but in fact, in the long run, there is no sustained huge profit.
Fifth, project management and stock risk make it difficult for investors to control the project. After the project is completed, there is often a certain development cycle to follow. How will the project be developed and how will it be promoted? Very few ICO projects can lay out very clear future development plans. This means that what investors can do after investing their money is actually beyond their control.

6. Decrypting Coinbase, the first cryptocurrency stock: risks, opportunities and future prospects

On February 25, 2020, Coinbase officially submitted a listing application to the SEC, planning to convert its Class A The common stock is listed directly on the Nasdaq Global Select Market. This article starts from the development background of the blockchain industry and encrypted digital market, and conducts an in-depth analysis of Coinbase's business scope, revenue structure, target groups, operating performance, profitability and other factors. Finally, this article gives Coinbase's future outlook on the risks and opportunities that cryptocurrency exchanges will face.

From the perspective of industry development, in recent years, various countries have successively introduced blockchain support policies, and the epidemic has also promoted blockchain R&D investment in various industries; the scale of the cryptocurrency market has grown rapidly, reflecting The market value increased by as much as 293.1% in the past year. The market value of Bitcoin alone has exceeded that of well-known companies such as Tesla, Tencent, Alibaba and Facebook. Institutions rushed to increase their holdings of cryptocurrencies, fueling the bull run in the cryptocurrency market.

From the perspective of company operations, Coinbase's business scope is diversified, mainly providing online trading platforms, and additionally providing subscription items, services and other businesses, which effectively reduces the volatility of income. Coinbase became profitable for the first time in 2020, with a net profit of $320 million. In terms of profitability indicators, Coinbase’s ROE and ROA both surpass those of major traditional exchanges. According to DuPont analysis, asset turnover rate is the main contributor to ROE growth, equity multiplier is at the bottom of the industry, and other indicators are basically the same as the three major traditional exchanges. From the perspective of capital structure and debt repayment ability, Coinbase has strong growth capabilities. The net profit attributable to the parent company at the end of 2020 increased by 1247.35% year-on-year; the asset-liability ratio has been increasing year by year, indicating that it has confidence in the company's operations and has the ability to bear the interest and risks of debt. .

From the perspective of future development, Coinbase is subject to increasingly stringent legal and regulatory requirements globally. To this end, Coinbase has had to increase its investment in compliance to meet legal and regulatory requirements. On the other hand, with the rapid development of the crypto economy, Coinbase has huge opportunities to further expand its business territory and operating income, and continue to maintainMaintain its leading position in the encryption industry.

Table of Contents

1. The sun is shining brightly on the shores of Surabaya, and the boundless scene is new: the first digital currency stock to land on Nasdaq?

2. Dapeng rises in one day and soars to 90,000 miles: Coinbase is listed at this time

2.1 Countries have successively introduced blockchain support policies, and the epidemic has promoted blockchain research and development Investment

2.2 The global cryptocurrency market is developing rapidly and remains strong

2.2.1 Bitcoin has a market value of over one trillion and is firmly on the Diaoyutai River

2.2.2 The COVID-19 epidemic is the ignition point, and institutions are rushing to promote it

3. After all, the mountains are beautiful and the snow is floating in the clouds: Coinbase competitiveness analysis

3.1 The diversification of business scope effectively reduces the income Volatility

3.2 “*****” or “honey”, Coinbase takes advantage of the trend

3.3 Coinbase’s key business indicators perform well

4 students Out of danger, a butterfly emerges from the cocoon: Risks and opportunities of cryptocurrency exchanges

4.1 From national scope to business involvement, exchanges face complex risks

4.2 Cash flow is abundant and new products are introduced , the future of exchanges is bright

1. Digital currency exchanges listed on stock exchanges: the starting point or the end of the crypto industry?

On February 25, 2020, Coinbase officially submitted a listing application to the SEC, planning to directly list its Class A common shares on the Nasdaq Global Select Market (stock code "COIN"). Coinbase is a cryptocurrency exchange headquartered in the United States. Its users are located in more than 100 countries, with approximately 43 million certified users, 7,000 institutions and 115,000 ecosystem partners. Its business scope covers investment, consumption, savings, Earn and spend cryptocurrency. If Coinbase is successfully listed, it will become a milestone event in the encryption industry.

Between 2012 and 2020, the overall market capitalization of crypto assets grew from less than $500 million to $782 billion, a compound annual growth rate (CAGR) of more than 150%. During the same period, Coinbase's retail users grew from approximately 13,000 to 43 million, and the number of institutions increased from more than 1,000 in 2017 to 7,000 in 2020. As of the end of December 2020, customers' total trading volume on the Coinbase platform exceeded $456 billion and more than $90 billion worth of assets were stored on the company's platform. Currently, Coinbase has grown into a leading provider of financial infrastructure and technology in the crypto-economy sector.

2. Coinbase stands at the forefront: the blockchain industry and digital currency market are growing rapidly

2.1 Countries have successively introduced blockchain support policies, and the epidemic has promoted blockchain R&D investment

2020 In 2019, the increased global uncertainty and distrust caused by the COVID-19 epidemic promoted R&D investment in blockchain technology. According to the China Patent Protection Association's "Global Authorized Patent Report in the Blockchain Field in 2020", from the perspective of not distinguishing between virtual currencies, public chains and alliance chains, as of May 2020, there are 100,000 patents in the blockchain field worldwide. 3924 authorized patents. Among them, the United States accounts for 39%, South Korea accounts for 21%, and China accounts for 19%.

Currently, the development of blockchain technology has also attracted great attention from governments of various countries. Governments of various countries have rushed to issue a number of documents and policies to promote the development of blockchain technology and strengthen the governance of blockchain technology. With the implementation of blockchain technology, it will bring about subversive changes in traditional social production relations and promote the development of global political, economic and social. Survey data from the China Academy of Information and Communications Technology shows that from 2019 to 2020, 24 countries around the world issued special policies or laws and regulations specifically targeting the development and industry supervision of the blockchain industry. The European Union, China, Australia, India, Mexico and other countries are actively developing the blockchain industry and have formulated overall industry development strategies. For example, in September 2019, Germany released its “National Blockchain Development Strategy”; in November 2019, the European Commission announced a new investment plan for European artificial intelligence and blockchain-focused startups; in February 2020 , Australia released the "National Blockchain Development Roadmap"; in March 2020, South Korea Science and ICT announced the launch of the "Blockchain Technology Verification Support Plan 2020".

2.2 The global cryptocurrency market is developing rapidly and remains strong

Cryptocurrency is a trading medium that uses cryptographic principles to ensure transaction security and control the creation of transaction units , which assumes multiple functions such as medium of exchange, storage of value, and energy supply for applications, is the most active part of the global encryption market. Nowadays, the public has widely recognized that blockchain technology is the three major trends that will change the future. In this era, cryptocurrency based on blockchain technology is undoubtedly the eye of the storm.

The global cryptocurrency market has grown from US$10.4 billion in 2013 to US$764.7 billion in 2020, with a compound annual growth rate of more than 3.2%. In 2020 alone, the market value increased by nearly US$570 billion. The increase is as high as 293.1%. Not only that, the encryption market is still gaining momentum in 2021. As of March 3, 2021, after only two months and three days in 2021, the size of the encryption market has expanded by 94.5%.

2.2.1 Bitcoin market valueOver one trillion, firmly sitting on Diaoyutai

In the global encryption market, Bitcoin (BTC), as the creator, undoubtedly sits on the top spot. Since Bitcoin was created by Satoshi Nakamoto, its market share has remained high. Since 2021, Bitcoin’s market share has basically remained above 60%, with the lowest market share in history being 33%. Following it is Ethereum (ETH). ), but Ethereum’s market share is only hovering around 10%, and it is far from being able to compete with Bitcoin. This is especially true for other altcoins, which compete with each other for the remaining “cake” of Bitcoin, and no one has a market share. More than 3%.

At the same time, Bitcoin has suddenly emerged despite the recent downturn in the overall market economy. The market value rose rapidly in a short period of time, even exceeding the trillion-dollar mark on February 19, 2021.

Judging from the current market value of listed companies around the world, there are only four high-tech companies that have exceeded the trillion-dollar market value mark: Apple, Microsoft, Amazon, and Google. Among them, Apple has the highest market value, currently reaching 20,000 One hundred million U.S. dollars. If Bitcoin is added to it, its market value has exceeded that of well-known companies such as Tencent, Tesla, Alibaba, and Facebook. What’s even more shocking is the speed at which Bitcoin became a member of the “trillion club”: to reach a market capitalization of one trillion U.S. dollars, it took Apple 42 years, Amazon 24 years, Google 21 years, and Bitcoin It only took 12 years.

Bitcoin’s return rate is far ahead of the world’s major asset classes, reaching as high as 301.46% in 2020. From the perspective of market return rate, in the past year, the return rate of the S&P 500 Index during the same period was 16.26%, and gold, which was sought after by the market, was only 25%. It can be said that Bitcoin’s performance in 2020 has far exceeded All other major asset classes.

2.2.2 The COVID-19 epidemic is the ignition point, and institutions are rushing to promote it

In 2020, the world has experienced black swan events such as the "pandemic" and "negative oil prices" that have not been seen in a century. In order to cope with the economic recession caused by the epidemic, countries have adopted quarterly loose monetary policies. In an economic environment of high inflation and low growth, in order to avoid damage to nominal principal and pursue higher returns, investors' demand for cash hoarding naturally evolved into the demand for cryptocurrencies such as gold and Bitcoin, which drove The crypto market bull market started with Bitcoin as the leader.

According to Bitcoin Treasures data, as of the end of 2020, 15 listed companies around the world have purchased and held more than 100,000 Bitcoins on their own, 12 of which are located in the United States or Canada. In February 2021, Elon Musk, the world's richest man and the father of Tesla, bet $1.5 billion on the Bitcoin market. American brokerage WedBush predicts that nearly 5% of listed companies will follow suit in the next 12-18 months. Sera’s investment diversification strategy joins the Bitcoin investment wave.

3. Alternative financial market exchange: How strong is Coinbase?

3.1 Diversify the business scope and effectively reduce the volatility of income

As we all know, there are two ways to obtain Bitcoin. The first is to use complex and powerful computers to solve the problem. Complex math problems to mine Bitcoin, or buy Bitcoin on exchanges. The former is ridiculously expensive and requires a lot of technical knowledge, while the latter only requires opening an account at the above-mentioned exchanges, of which Coinbase is the leader among such exchanges.

Coinbase’s main business is to provide an online trading platform that allows buyers and sellers to meet and invest, spend, send and receive, store, save, mortgage, lend and lend, distribute at the right price, Build, pay, and more broadly access and trade with cryptoassets. Its revenue structure includes the following parts: transaction revenue, subscription and service revenue and other business revenue.

Transaction revenue includes net revenue from transaction fees incurred on the platform. The company charges approximately 0.50% for the purchase and sale of cryptocurrencies, although this rate will vary based on market conditions. From mid-2019 to the end of 2020, transaction services revenue increased from US$235.35 million to US$1,096.17 million, an increase of 366%. Transaction service income is the most important component of operating income, accounting for approximately 86%.

Revenue from subscriptions and services includes Store, Stake, Distribute and Build. These revenues are calculated using the interest method, with interest revenues dependent on the balance of escrow statutory funds and the prevailing interest rate environment. Subscription and service revenue accounts for approximately 4% of total operating revenue. From 2019 to 2020, this revenue increased by approximately 355%.

Other business income includes income from the sale of crypto assets. The company regularly uses its own crypto assets to complete customer transactions. The company maintains custody and control of the cryptoassets in some small orders before they are sold to customers, and records revenue at the point in time when sales are processed. The company records the total value of the sales as revenue and the cost of the cryptoassets in other operating expenses. Other income also includes interest income earned on cash and cash equivalents. This type of revenue accounts for about 11% of total revenue and has risen 329% in the past year.

In terms of user groups, Coinbase has a target income group of approximately 43 million retail users, 7,000 institutional users and 115,000 ecosystem partners. These customers span all continents and are located in more than 100 countries. Among them, the company’s retail users span all geographies and age groups, indicating that Coinbase has received broad acceptance as a provider of the crypto economy. As of the end of 2020, Coinbase has more than 43 million retail users and 2.8 million monthly transaction users, an increase of approximately 180% from the end of 2019.

In addition, Coinbase’s institutional clients include hedge funds, major trading firms, small and large financial institutions, family-owned businesses, and, more recently, companies seeking to allocate a portion of their investment portfolios to crypto assets. As of December 31, 2020, there were 7,000 institutional clients on the company's platform. For example, innovative investment management company One River Asset Management.

In terms of ecological partners, Coinbase is looking for businesses that can build their own products and services or distribute these products and services through the Coinbase platform. For example: developers building new blockchain protocols and applications that leverage blockchain protocols; creators of new tokens on these protocols; those who see business value in accepting these tokens as new payment methods for their businesses Merchant Partners; organizations and financial institutions that use Coinbase Analytics technology to monitor blockchain transactions for various use cases, such as compliance. In addition, the company’s partners on DeFi protocols include Compound.

3.2 "*****" or "honey", Coinbase takes advantage of the trend

Since the outbreak of the new crown epidemic, the global economic situation has become increasingly sluggish, and people have turned their focus to the cryptocurrency industry , cryptocurrencies rushed to the market, driving the business development of virtual asset trading platforms. Coinbase's operating income skyrocketed from 1.820 billion yuan in the second half of 2019 to 5.666 billion yuan in the second half of 2020, with a compound half-year growth rate of 76.44%. The scale of Coinbase's operating income is not yet comparable to that of traditional exchange giants, but the gap is shrinking rapidly. In the second half of 2020, the difference with the Hong Kong Exchange was only 2.168 billion yuan. At the same time, COINBASE has huge growth potential: in 2020, the revenue levels of other stock exchanges (Hong Kong Stock Exchange, London Stock Exchange, Intercontinental Exchange, etc.) have declined, but Coinbase has been the best, with revenue increasing for half a year to the beginning of the year. 2.12 times.

In terms of net profit, as encrypted digital currencies shine, the trading volume of major crypto market exchanges has increased rapidly. Coinbase achieved profitability for the first time in 2020, and it has rapidly increased from 45 million yuan in the first half of the year. It increased by 262.48% to 165 million yuan at the end of the year. Hong Kong Exchange and Intercontinental Exchange only increased by 2.57% and -35.86% in the first half of 2020.

From the perspective of return on net assets (ROE) and return on total assets (ROA), Coinbase exchange’s ROE and ROA caught up with major traditional exchanges in the second half of 2020, and ROA even surpassedIt is 2.50 times and 3.51 times that of Hong Kong Exchange and Intercontinental Exchange. This is mainly due to the occurrence of major events such as the epidemic and "black swan" in 2020. Major traditional exchanges have suffered heavy losses. Exchanges such as Coinbase in the encrypted digital currency market Instead, with the help of Dongfeng, it has become a "hot potato" in the eyes of investors.

According to further analysis by DuPont, except for asset turnover rate and equity multiplier, other indicators are basically the same as those of the three major traditional exchanges. Asset turnover rate is the main contributor to ROE growth. Coinbase's asset turnover rate in 20 years was 0.31, while the Hong Kong Exchange and Intercontinental Exchange were only 0.06 and 0.05, and the London Stock Exchange was even 0. Coinbase is a virtual digital currency trading platform. Compared with the other three traditional exchanges, the unique technical characteristics and application scenarios of the virtual market make Coinbase's trading procedures simpler, production and operation faster, and it can be obtained with less resources. Greater revenue.

Coinbase’s equity multiplier is at the bottom of the industry, only 3.19, while Intercontinental Exchange, which has the lowest equity multiplier among the three major traditional exchanges, also has 6, which is 1.88 times that of Coinbase. The capital invested by Coinbase shareholders accounts for a relatively large proportion of assets, indicating that borrowed funds are very small and the financial risks are not significant. This may be related to the fact that Coinbase has just entered the market.

From the perspective of capital structure and solvency, the asset-liability ratios of the three major traditional exchanges are all above 80%. In recent years, the asset-liability ratio of the London Stock Exchange has even reached above 99%. According to Coinbase’s annual report and prospectus, although Coinbase’s asset-liability ratio has also been increasing year by year, from 55.61% at the end of 2019 to 73.94% at the end of 2020, there is still a large gap with the three major traditional exchanges. However, Coinbase's current development trend is relatively healthy. The rising asset-liability ratio shows that Coinbase is very confident in its business operations and has the ability to bear the interest costs and risks of borrowing from banks.

In addition, Coinbase has strong growth capabilities and huge development potential. In the first half of 2020 and the year-end net profit attributable to the parent company increased by 710.87% and 1247.35% year-on-year respectively. The other three traditional exchanges are already relatively mature and have less room for growth. The old London Stock Exchange's net profit attributable to its parent company increased by even -13.13% and -8.13% year-on-year.

3.3 Coinbase Outperforms on Key Business Metrics

In addition to financial results, the company also uses verified users, monthly trading users (MTU), assets on the platform, trading volume and non-GAAP Business metrics such as financial indicators are used to evaluate the business, measure performance, identify trends affecting the company's business and make strategic decisions. Verified users represent users who have shown interest in the platform. Verified users increased in all quarters ended December 31, 2018, 2019 and 2020 compared to the prior quarter. Among them, the retail e-wallet application launched in mid-2018 had an annual growth of more than 2 million users as of December 31, 2020.

MTU represents the company's active and passive retail user transaction base and reflects revenue opportunities on the platform. MTU drives growth in retail transaction volume and includes retail users interacting with transaction-based products such as investing, spending, sending and receiving, investing and allocating. MTU has historically been correlated with the price of Bitcoin and the volatility of crypto assets.

The assets on the platform are a measure of the total value held by the platform, reflecting the trustworthy nature and profit opportunities of the platform. This metric is influenced by market factors, such as platform assets declining in 2018 as crypto asset prices, dominated by those of Bitcoin and Ethereum, fell from their 2017 highs. Between December 31, 2017 and December 31, 2018, Bitcoin and Ethereum prices fell by approximately 74% and 82% respectively, and the total market value of crypto assets fell by 80%. During the same period, assets on the platform decreased by 73%. Despite short-term fluctuations, assets on the platform grew over the longer term from $7 billion to $17 billion in 2019 and 2020, respectively, as of December 31, 2018, due to growth in the price, volume and type of cryptocurrencies. US dollars to US$90 billion.

Trading volume represents the product of the number of trades for an asset and the trade price at the time the trade is executed. Since trading activity directly affects trading revenue, the metric reflects the liquidity on the company's order book, trading conditions, and cryptocurrencies. potential growth of the economy. Retail trading volume is more affected by Bitcoin price and crypto asset volatility than institutional trading volume, and institutional trading volume fluctuates less over time. As institutional trading increases, expands the number and types of crypto-assets supported by the platform, and the utility of crypto-assets expands, it is expected that the correlation between Bitcoin price, crypto-asset volatility and trading volume will decrease.

Non-GAAP financial measure refers to Adjusted EBITDA, which is defined as net income (loss), adjusted to exclude interest expense, income tax (earnings) reserve, depreciation and amortization, based on stock-based compensation expense, goodwill impairment, acquired intangible and crypto assets, restructuring charges, less recurring acquisition-related compensation expense, unrealized foreign exchange gains and losses, fair value adjustments to derivative instruments and non-recurring legal provisions fees and related costs. Adjusted EBITDA for the year ended December 31, 2020 increased compared to the year ended December 31, 2019 primarily due to higher trading revenue.

Currently, CoinbaseIt has obvious advantages in terms of brand influence, user trust, compliance and product experience. The company has built a powerful back-end technology platform to support the real-time and uninterrupted needs of the global crypto asset market. By working with regulators around the world to develop policy, the company has made significant investments in regulatory compliance and pioneered industry-leading security practices to protect crypto assets. The company attracts retail users, institutions and ecosystem partners to the platform, creating a powerful flywheel: retail users and institutions store assets and increase liquidity, allowing the company to expand and offer and launch new, innovative crypto assets, Thereby attracting more new customers to join. The company's scale and leadership attract ecosystem partners to connect with our millions of customers around the world, further increasing the value of the platform.

4 Born out of crisis, emerges from cocoon and becomes a butterfly: Risks and opportunities of cryptocurrency exchanges

4.1 From national scope to business involvement, exchanges face complex risks

< p> As a result of its global operations, Coinbase is subject to various laws and regulations enacted by U.S. federal, state, local and foreign governments and regulatory agencies. Globally, Coinbase is subject to increasingly stringent legal and regulatory requirements related to the detection and prevention of combating terrorist financing, anti-money laundering, fraud and other illegal activities, competition regulations, economic and trade sanctions, privacy, cybersecurity, Information security and data protection. These laws, regulations and rules (and their interpretations) change frequently and are increasing in number.

Money laundering and terrorist financing are crises faced by all cryptocurrency exchanges. Coinbase is subject to various anti-money laundering and counter-terrorism financing laws, including the BSA in the United States and similar laws and regulations abroad. Coinbase has implemented a compliance program designed to prevent the platform from being used to engage in money laundering, terrorist financing, and other unlawful activities in countries or with individuals or entities included on designated lists promulgated by OFAC and equivalent foreign authorities. Activity. A compliance program includes policies, procedures, reporting protocols and internal controls designed to meet legal and regulatory requirements and assist in the management of risks associated with money laundering and terrorist financing. Anti-money laundering regulations are constantly evolving and vary from jurisdiction to jurisdiction. The Company continuously monitors compliance with anti-money laundering and counter-terrorism financing regulations and industry standards and implements policies, procedures and controls in accordance with the latest legal requirements.

4.2 With abundant cash flow, innovative products, and a bright future for the exchange,

The market operated by Coinbase has one of the deepest liquidity pools and network effects, with a large amount of liquidity for exchange A wide range of crypto assets. A good mix of retail and institutional activity provides the company with deep liquidity, highlighting synergistic relationships and network effects among customers on the platform. Liquidity brings liquidity, as the range of supported crypto-assets continues to expand andBy attracting new customers to the company's platform, this advantage will deepen.

Coinbase grows with the development of the crypto economy. Powerful incentives drive online exchange of nearly every aspect of economic activity. More importantly, Coinbase has huge opportunities to grow its customer base: including increasing user adoption and engagement with its products, expanding and accelerating retail user reach, expanding institutional reach and support, developing great ecosystem relationships, and adding payment options. and international expansion, etc.; increasing the depth and breadth of crypto-assets on the platform: including expanding support for digital currencies and crypto-assets, supporting the exchange’s blockchain protocol functionality and tokenizing new assets; and launching new innovative products to actively drive business Development, that is, building any existing and more yet to be created financial and non-financial products for the crypto-economy.

#BTC[超话]# #欧易OKEx# #digital currency#

7. What is the blockchain and can it be invested in?

< p>What is blockchain? Can blockchain be invested in?

Blockchain technology is an emerging concept after the introduction of the Internet concept. It mainly solves the information asymmetry and decentralization in society. services. Give an example to explain what blockchain technology is:

Usually we deposit cash into the bank. Every time we withdraw money, the transfer must go through the bank system to complete. So if we use blockchain technology To solve this problem, then our money does not need to be placed in the bank. When transferring money to others, we only need to transmit data on the chain. The transfer record data will be recorded by the entire network, and the consumption path of the amount can be found at any time. , there is no need to go through any intermediary to complete the intermediate recording.

This is just one of the scenarios where blockchain technology is applied. At present, the payment industry, gaming industry, lottery gambling industry, etc. are the most widely used blockchain technology.

In the nascent stage of the development of blockchain technology, many investors will naturally see the development potential and prepare to invest in blockchain. So how to invest in blockchain? Everyone knows that with the emergence of blockchain technology, digital currency will be generated, and the circulation of digital currency will generate value. Ordinary people can invest in blockchain by purchasing digital currency. Common digital currencies include Bitcoin, Ethereum, Yuzi, etc. However, the risk is extremely high. The return is much higher than that of stock investment, but the risk is also several times higher. Therefore, when investing in blockchain, the choice of digital currency is also very important. For novice investors, it is recommended to choose mainstream currencies, such as Bitcoin, Ethereum and Ripple. Their value has been basically recognized, they have a consensus mechanism, and the price will not drop significantly. However, the corresponding blockchain technology is still the best. Ethereum.

For professional risk control investors, you can choose to invest in blockchain companies, taking a fancy to their long-term value and tokens. Nowadays, blockchain companies will issue coins, which is the so-called digital currency.It is a digital currency, but its value is zero and has no actual circulation significance. Therefore, when choosing to invest in a blockchain company, you still need to clearly understand the content of the company’s projects, whether it can be truly implemented, and how much potential it has for changing human life in the future. .

8. What is the future prospect of the blockchain industry?

Five major aspects of the growth potential of the blockchain industry promote the healthy development of technology

Basic overview analysis of blockchain

Blockchain technology, as a technical solution for collectively maintaining a reliable database in a decentralized manner, has the characteristics of decentralization, tamper-proof, and high scalability. It is becoming an emerging technology after big data, cloud computing, artificial intelligence, and virtualization. After reality and other technologies, it is another emerging technology that will have a major impact on the future and is expected to promote mankind from the information Internet era to the value Internet era.

The United States, Japan and some countries and regions in the European Union have elevated the development of blockchain to an important national development strategy and vigorously promoted the research and development, application and promotion of blockchain technology. Our country also attaches great importance to blockchain technology innovation and industrial development. With the joint participation of IT and other companies, a large number of new companies, new products, new models, and new applications have emerged. Blockchain has been widely used in finance, government affairs, energy, and medical care. Applications in other industries are gradually unfolding, and it is becoming an important force driving technological product innovation and industrial transformation in various industries.

Blockchain development is divided into three stages, namely Blockchain 1.0 represented by Bitcoin and related financial infrastructure applications, and Blockchain 2.0 represented by smart contracts. , is currently gradually moving towards the blockchain 3.0 stage, which is based on blockchain technology and has in-depth application of more complex smart contracts.

Statistical analysis of blockchain investment and financing in the first half of the year

Since 2016, the frequency and amount of investment and financing in my country’s blockchain field have increased dramatically. According to statistics from the "In-depth Analysis Report on Business Model Innovation and Investment Opportunities in the Blockchain Industry" released by the Qianzhan Industry Research Institute, in the first half of 2018, the financing amount in the blockchain field was approximately 10.7 billion, a year-on-year growth rate of 1,426 billion compared with the same period in 2017. %; The number of investment and financing events in the blockchain field reached 205. It is expected that investment in the blockchain field will usher in another peak this year.

From the perspective of the distribution of investment and financing rounds in China’s blockchain field, early-stage investment rounds (before Series B) account for more than 95%. Many industry pioneers participate in the investment, and most companies are still in the process of investing. Horse racing and enclosure.

Blockchain investment and financing statistics and growth from 2014 to the first half of 2018

Data source: Compiled by Qianzhan Industry Research Institute

my country attaches great importance to the development and application of blockchain technology. Driven by multiple forces such as policy, technology, and market, the pace of blockchain innovation continues to accelerate, and it is deeply integrated with technologies such as cloud computing, big data, and the Internet of Things. The scope of explored applications has also expanded from digital assets to supply chain management, intelligent manufacturing, Expand and expand in more fields such as industrial Internet, social welfare, copyright protection, etc.

Five major aspects strive to promote the healthy development of blockchain technology and promote the high-quality development of the digital economy

1. In-depth research and grasp of blockchain technology and industry development trends. Pay close attention to the latest trends in international development, jointly promote blockchain-related technology and industry research, promote the standardization of blockchain development industry behavior, and create a good development environment.

2. Strengthen the construction of core technical capabilities of blockchain.

Establish and improve a collaborative promotion mechanism among key enterprises, universities, and research institutions, guide IT enterprises to strengthen technical reserves, accelerate breakthroughs in key core technologies, and improve blockchain performance, efficiency, and security.

3. Support entrepreneurship and innovation in the field of blockchain

Encourage blockchain enterprises and user units to carry out cross-border integration, guide industry organizations to establish public service platforms, and support third-party institutions Carry out blockchain service evaluation and testing, promote rich industry applications of blockchain, and serve the transformation and upgrading of the real economy.

4. Actively build and improve the blockchain standard system

Accelerate the development and application promotion of key standards, and gradually build a complete standard system. Actively connect with international standards organizations such as ITU and ISO, substantially participate in more international standardization work, and actively contribute more "Chinese power."

5. Accelerate the improvement of the policy environment for blockchain development

Support qualified enterprises to carry out application innovation and model innovation, guide and encourage enterprises, universities and scientific research institutes to jointly cultivate blockchain Professional talents needed for chain development. Support qualified blockchain companies to enjoy the country’s preferential tax policies that support the development of the software industry and small and medium-sized enterprises.

The industry is small but has huge growth potential

The blockchain economy is currently on the eve of an explosion. It is widely used in the financial industry, and applications in other industries have also entered the exploration and research and development stage. It is expected that the direct market value of blockchain will increase from US$410 million to US$7.68 billion between 2017 and 2022, with a compound annual growth rate of 79.6%. It is expected that various blockchain-based extended businesses will reach US$100 billion in 2020.

Industrial application fields continue to expand

The financial industry is the first to apply blockchain technology, and many financial applications have been implemented; the medical industry is an important area of ​​blockchain application and can be more It is good to protect privacy and improve service quality and management efficiency; the demand for blockchain in social forensics is rising rapidly to solve certification problems caused by information asymmetry; the application of blockchain technology in other fields such as communications and supply chain is rapidly expanding .

9. Blockchain is the last chance for ordinary people! Can you seize it?

Missed the era of making money in stocks, missed the era of making money in real estate, and missed e-commerce In the era of big data, it doesn’t matter if you miss the era of big data. Just grasp the blockchain. If you can’t grasp it anymore, it’s basically over.

Since entering 2018, more and more people have become aware of blockchain, and many people have begun to be blind.When investing in projects, you don’t study the project carefully and always want to play conceptual projects. Wherever the big guys stand, the leeks will hurriedly follow the platform. What you don’t know is that when the big guys talk about blockchain, they are just doing it for themselves. To build momentum and announce to the outside world that they have entered the market, they are most afraid that they will not be able to keep up with the trend of the times and will be forgotten by others.

Human abilities are limited, but the power of the times is unlimited, and so do you. Once you step into the blockchain era, you can realize your great dreams...

In 2018, whether at the national level or the enterprise level, blockchain has become the wave of the times. This is also a major trend that no one or any country can stop, because the long river of history is always moving forward. .

Just like the Internet will inevitably subvert traditional industries, blockchain will also inevitably subvert the traditional Internet.

We have not caught up with stocks, real estate, e-commerce, the Internet, and big data. Blockchain digital currency is a major change for our young people. Business.

CCTV host Zhang Quanling said: One day in the currency circle, ten years in the Internet! In 2018, the wealth created in the cryptocurrency industry in one year is not comparable to that of other industries in a century or even a thousand years. Countless billionaires, tens of billions, and hundreds of billions will be born this year! Because the blockchain technology industry is developing rapidly now, 40 billion yuan of money flows into this industry every day, 400 billion yuan in 10 days, 4 trillion yuan in 100 days, and 40 trillion yuan in 1,000 days. Money poured in.

In other words, in the next 2 to 3 years, tens of trillions of dollars will pour into the currency circle, forming a new global digital currency capital market. Comparable to the stock market. The first wave of people participating in the currency circle now are just like the first wave of people participating in the stock market in the 1990s. They are even more crazy and making a lot of money.

Therefore, choice is greater than effort, and trend development cannot be stopped. Everyone needs to use a wise eye to see the future development of this trend.

"Blockchain is the last chance for the poor!"

As an insider, I also think so. Blockchain is the last chance for the grassroots to make a comeback, really. If you miss it, there’s no use looking for the rope!

This once-in-500-year financial change requires us to embrace the blockchain with all our strength and enthusiasm.

Every time the so-called "bubble economy" strikes, it will also be accompanied by the arrival of huge value. If we live the life of office workers from 9 to 5, we will never achieve financial freedom. , if you want to make big money, which one does not achieve wealth freedom through the value generated by bubbles. Are real estate and stocks a bubble economy? What if there is no instant noodles?What added value? Although this blockchain bear market may last much longer than everyone expected, what I want to tell you is that blockchain is still in the dividend period. Although more and more people know about blockchain now, they are just On the surface, I know that not many people are participating

I reiterate that blockchain is the last chance for ordinary people to overtake us in a corner. This is a financial change that only happens once in 500 years. What we grassroots need to do is The most important thing is to be prepared, join, learn and struggle, and you will definitely have unexpected gains.

10. Does blockchain have a future? What are the prospects?

As of June 2018, China’s blockchain-related businesses have begun to take off, driven by the government, enterprises, and capital. It has formed a scale and is at the forefront of the world in terms of number of patents, financing environment, policy support, and application implementation.

According to statistics from the "In-depth Analysis Report on Business Model Innovation and Investment Opportunities in the Blockchain Industry" released by the Qianzhan Industry Research Institute, there were 406 blockchain-related patent applications worldwide in 2017, of which 225 Item comes from China. As of the end of March 2018, the number of companies in my country with blockchain as their main business has reached 456. The blockchain industry has initially formed a scale, and the industrial chain links from upstream hardware manufacturing, platform services, and security services to downstream industrial technology application services, industry investment, media publicity, and talent services are basically complete.

In addition, the formulation of relevant industry and national standards is also accelerating to solve the key technical standard issues of the blockchain, the implementation of implemented policies, and the formulation of future policies will inevitably Promote the ecological development of the blockchain industry.