专访给中央讲区块链的内容,区块链 中央台
最近，中央台对区块链进行了专访，给大家讲解了关于区块链的内容。那么，今天我们就来介绍一下，区块链相关的三个关键词：数字货币、智能合约和去中心化。
数字货币是指在区块链系统中使用的虚拟货币，它是一种不受中央银行管制的货币，可以用来进行跨境支付，进行货币交易，以及实现货币投资。它的特点是可以实现跨境支付，转账速度快，费用低，安全可靠，货币流通性强。
智能合约是指在区块链上运行的一种程序，它可以自动执行合同，并且不受任何人的干涉。它是一种自动执行的规则，可以在区块链上存储和执行，不受任何人的干预。智能合约可以用来自动完成一些金融交易，可以更加快捷、安全、可靠地完成金融交易。
去中心化是指区块链系统中没有中央机构的设计，它是一种分布式系统，所有的节点都是平等的，没有任何一个节点可以控制全部的网络。去中心化的特点是可以更加安全、可靠，不受任何外部的干涉，可以更好地保护个人信息的隐私。
以上就是关于区块链的三个关键词：数字货币、智能合约和去中心化的介绍，希望能够帮助大家更好地了解区块链。
请查看相关英文文档
① Machine Trust
007 If you don’t write it, you will be out Chapter 4
Trust the machine in the blockchain
Previous I saw a piece of news two days ago saying that Luo Pang, who has a logical mind, is also going to enter the blockchain.
Luo Pang is a teacher I respect very much. He brought me brainstorms and burnings. What’s even more rare is that he made a 20-year agreement with time. The New Year’s Eve speech at the end of each year is an indispensable New Year’s gift for me. I would like to express my gratitude to Luo Pang here. Say "thank you".
This is just like us 007, who has made an appointment to see each other in Antarctica for seven years. I believe that persisting in doing something meaningful for 7 years will bring about huge changes in my life. Let’s wait for the rewards of compound interest over time!
Okay, let’s talk about today’s topic-blockchain. I think blockchain is attracting more and more people with its unique charm, and it is a big name in various fields. So what is its charm?
I believe you have heard of blockchain more or less before reading this article. In addition, the "Three Questions about Blockchain" broadcast by CCTV 2 last week pushed it to the forefront. On the cusp of the storm.
There are many articles about blockchain. I will talk about the blockchain in my mind. If there are any inaccuracies, please ask friends to point out so that they can be corrected.
There are no special learning channels now. You have to take the initiative to find information on your own and piece it together to form the pattern in your mind. I try to explain it in a simple way:
What is blockchain? My understanding is: trust the machine.
Trust the machine rather than the "intermediary", this is its charm.
First we have to trust a machine. If this machine is a machine and is controlled by someone, then I definitely can’t believe it. So we used a distributed network to break up this machine into many machines and spread it out to ensure that no one can control it. There is also a technical feature of network-wide broadcast, ensuring that all scattered machines can maintain information consistency. Although it is dispersed in this way, it still has the effect of one machine.
The cryptographic ledger is the communication language between machines. Mathematics and procedures are the most rigorous, just like 1+1=2 cannot be wrong. So what we ultimately trust is mathematics and procedures.
The incentive mechanism builds a bridge between machines and people. Without Token rewards, people cannot be motivated. No one is willing to spend their time, computing power, hard disk, and trust.information to maintain network security. If there is no incentive mechanism, there will be no consensus. Without consensus, there will be no security. Without security, there will be nothing.
Blockchain = distributed network + cryptographic ledger + incentive mechanism (consensus mechanism)
Next time someone asks you what a blockchain is? You can tell him this: If you are worried about trust, then let’s trust the machine! Huang Weixiang May 27, 2018
② Whatfin: The "chain" achieves cost reduction and efficiency, and the blockchain helps industrial digital upgrades
According to the front -edge industry information of Whalefin, in recent years , with the continuous development of the market economy, in addition to reducing costs and increasing efficiency through the "cloud" in various industries, the "chain" of the industry is also expanding with the continuous development of blockchain technology and blockchain integrated applications, gradually attracting More people are paying attention, and more and more companies are realizing the necessity and value of blockchain technology. It is also against this background that the digital asset platform represented by WhaleFin is also taking advantage of the "east wind" of industry development and has attracted widespread attention from more and more users around the world. It once became a highlight of discussions in the field of digital finance + blockchain.
The “chain” in the industry does not come out of nowhere. It is reported that recently, 17 departments and units including the Ministry of Industry and Information Technology and the Central Cyberspace Administration of China have organized and launched national blockchain innovative application pilot actions. 15 well-known companies including China Shipbuilding Industry Corporation, Qingdao Haier Refrigerator Co., Ltd., and SAIC-GM-Wuling Automobile Co., Ltd. Outstanding units have been successfully selected as pilot units in the national blockchain innovative application field ("blockchain + manufacturing"). Led by relevant government departments, they have led many industries to achieve cost reduction and efficiency improvement through the "chain" and boldly explore digital upgrades and transformations. .
It is understood that the pilot program is mainly based on the mechanical industrial equipment asset sharing blockchain platform, with supply chain collaboration as the application direction, integrating blockchain, industrial Internet logo analysis and other technologies to achieve optimization Industrial supply chain management and establishment of collaborative production system. Some experts predict that this pilot initiative for innovative blockchain applications will promote the formation of a good situation in which blockchain and business applications lead to iterations of each other, and promote the improvement of blockchain technology and engineering.Construction of industrial manufacturing application standard system.
Industrial transformation and upgrading through blockchain technology does not happen overnight. In the future, how to continue to stimulate industries to use blockchain and make good use of blockchain will still need to continuously improve the penetration and application of digitalization in all walks of life and realize the digitalization of production and management for a long time to come. At the same time, Promote the development of standards in the blockchain field. At the same time, while expanding the application scope of blockchain and related integrations in the market, we must also further play the positive role of information in guiding and educating the industry, and on the basis of full practice, we must explain "what blockchain can do" "What", "Why use blockchain" and other key questions.
As WhaleFin’s cutting-edge industry information says, in the future, our country may invest more in market education about blockchain and other related concepts, aiming to further enhance the market’s understanding of blockchain. Knowledge and understanding, deeply explore the positive role of blockchain, help more companies get on the "chain", and achieve digital transformation and upgrade.
③ What disruptions does blockchain bring and why can it become a national strategy?
The disruptive characteristics of blockchain lie in the following four aspects: 1. Transparency. The data records of the blockchain system are transparent to the entire network nodes, and the update operations of the data records are also transparent to the entire network nodes. This is the basis for the trust of the blockchain system. Since the blockchain system uses open source programs, open rules and high participation, blockchain data records and operating rules can be reviewed and traced by nodes throughout the network, with high transparency.
2. Openness. The blockchain system is open. Except for the private information of the parties directly related to the data, which is always encrypted, the blockchain data is open to everyone (except for blockchain systems with special permission requirements). Anyone or participating nodes can query blockchain data records or develop related applications through the public interface, so the entire system information is highly transparent.
3. Information cannot be tampered with. Once the information of the blockchain system is verified and added to the blockchain, it will be permanently stored and cannot be changed (except for systems such as private blockchains with special change requirements). Unless more than 51% of the nodes in the system can be controlled at the same time, modifications to the database on a single node are invalid, so the data stability and reliability of the blockchain are extremely high
4. Decentralization. Decentralization is the most basic feature of blockchain, which means that blockchain no longer relies on central processing nodes and realizes distributed recording, storage and updating of data. In a traditional centralized network, attacking a central node can destroy the entire system. However, in a decentralized blockchain network, attacking a single node cannot control or destroy the entire network or more than 5% of the nodes in the network. It's just the beginning of gaining control. 2019 is the first year of commercial application of blockchain technology, and favorable policy incentives will make the development of blockchain technology more stable.
As the application of blockchain technology gradually penetrates into digital finance,In many fields such as the Internet, everyone has a clearer understanding of the value of blockchain.
Blockchain has formed a global competition situation. All countries are seizing development opportunities, and China cannot lag behind; therefore, it is understandable that blockchain has become a national strategy.
④ What are the prospects of blockchain?
The application of blockchain has extended to many fields such as medical health, education, charity, social management, and finance. The biggest advantage of blockchain is that it truly completes the construction of credit in an anonymous society, bringing new opportunities to many fields, thus making various innovative applications possible. . The current blockchain is equivalent to the Internet 20 years ago. It is in its preliminary stage. In the future, it will definitely become a major part of the social economy and be used to benefit the people and society. Please wait and see!
Blockchain is an intelligent peer-to-peer network that uses distributed databases to identify, disseminate and record information, also known as the Internet of Value. The concept of blockchain was first proposed by Satoshi Nakamoto in his paper "Bitcoin: A Peer-to-Peer Electronic Cash System" published on the Bitcoin Forum in late 2008.
It is a chain data structure that combines data blocks in a sequential manner in chronological order, and is cryptographically guaranteed to be an untamperable and unforgeable distributed ledger.
Broadly speaking, blockchain technology uses block chain data structures to verify and store data, uses distributed node consensus algorithms to generate and update data, and uses cryptography to ensure the security of data transmission and access. A new distributed infrastructure and computing method that uses smart contracts composed of automated script codes to program and manipulate data.
Blockchain Investment
Blockchain investment is indeed one of the hottest investment methods in today’s society. Although blockchain seems to have just started, as such a novel existence, it It is indeed very unique. Many people don’t know what blockchain is. They only know that blockchain mining can make money, so they follow it in a fog. But to make a truly safe investment, I suggest that everyone still Understand it first, prepare well before taking action, and don’t fight an unprepared battle.
Blockchain technology does have huge room for growth in the future. Many people believe that it will be able to subvert many existing industries in the future. This is very important. This is the source of all your confidence. If you If you don’t recognize the value of blockchain from the bottom of your heart, then you are likely to be affected by some negative remarks and even doubt the entire industry, which will affect your entire decision-making and judgment.
If you just want to play casually or test the water, the chance of success is very small.
Once you are determined, be prepared and spend all your precious energy on research. When investing, you must do your homework! Never invest money without knowing what the project is about.
Finally, blockchain is a new start after allThe industry in China is currently in a mixed situation, and of course there are scammers. Therefore, when we invest, we must be careful and not just take what others say, and keep our eyes open.
In addition, I still have to say that investment is risky, so you must be cautious!
⑤ What is blockchain and how to introduce blockchain in a simple and easy-to-understand manner
Blockchain is a term in the field of information technology.
Essentially, it is a shared database. The data or information stored in it has the characteristics of "unforgeable", "full traces left", "traceable", "open and transparent" and "collectively maintained". . Based on these characteristics, blockchain technology has laid a solid foundation of "trust" and created a reliable "cooperation" mechanism, which has broad application prospects.
On January 10, 2019, the Cyberspace Administration of China issued the "Blockchain Information Service Management Regulations". On October 24, 2019, during the 18th collective study session of the Political Bureau of the CPC Central Committee, General Secretary Xi Jinping emphasized, “use blockchain as an important breakthrough for independent innovation of core technologies” and “accelerate the development of blockchain technology and industrial innovation.” . "Blockchain" has entered the public eye and become the focus of society.
On December 2, 2019, the word was selected into the top ten buzzwords of 2019 by "Biwenqiezi".
(5) Exclusive interview with the central government about blockchain Extended reading:
Blockchain financial application:
Since 2016 , major financial giants have also caught wind of this and launched blockchain innovation projects one after another to explore the possibility of applying blockchain technology in various financial scenarios. In particular, Puyin Group took the lead in pioneering the “blockchain+” standard digital currency.
The standard digital currency is an asset that has been identified, evaluated, confirmed, insured, etc. by a third-party organization and written into the blockchain through rigorous digital algorithms to form a standard correspondence between the asset and the digital currency. relationship, called a standard digital currency.
In order to realize the great leap forward development of blockchain finance, in order to promote the new development of China’s economy, accelerate the circulation of global assets, and realize the dream of rejuvenation that generations of people have been striving for, Puyin Group will Puyin Blockchain Finance Guiyang Strategy Release Ceremony was held in Guizhou on the 9th;
At the meeting, the digital circulation of assets through blockchain, the blockchain financial transaction model, and the relationship between blockchain services and blockchain services will be discussed. The application of social public industries will be discussed. This conference will mark the beginning of the application of blockchain finance and the transformation and development of a new financial ecosystem.
Reference for the above content: Network-Blockchain Finance; Network-Blockchain
⑥ What is the national policy on blockchain
The current national policy on blockchain Blockchain technology is recognized, and the research and development of independent blockchain technology is supported and encouraged. The country’s expectation for the blockchain industry is to have specific implementation and application value as support. For the future of blockchain Expectation is the areaBlockchain should become a breakthrough for independent innovation in core technologies. And blockchain is legal. Blockchain is a term in the field of information technology. In essence, it is a shared database, and the data or information stored in it has the characteristics of being unforgeable, leaving traces throughout the process, traceable, open and transparent, and collectively maintained.
1. The composition of the blockchain system:
1. Data layer
2. Network layer
3. Consensus layer
4. Incentive layer
5. Contract layer
6. Application layer
2. Types of blockchain
1. Public blockchain
2. Industry blockchain
3. Private blockchain
3. Blockchain Features
1. Decentralization. Blockchain technology does not rely on additional third-party management agencies or hardware facilities, and there is no central control. In addition to the self-contained blockchain itself, each node realizes self-verification, transmission and management of information through distributed accounting and storage. Decentralization is the most prominent and essential feature of blockchain.
2. Openness. The foundation of blockchain technology is open source. In addition to the private information of the transaction parties being encrypted, the data of the blockchain is open to everyone. Anyone can query the blockchain data and develop related applications through the public interface. Therefore, the entire System information is highly transparent.
Legal basis:
"Civil Code of the People's Republic of China"
Article 123 Civil subjects enjoy intellectual property rights in accordance with the law. Intellectual property rights are the exclusive rights enjoyed by obligees in accordance with the law with respect to the following objects:
(1) Works;
(2) Inventions, utility models, and designs;
(3) Trademarks;
( 4) Geographical indications;
(5) Trade secrets;
(6) Integrated circuit layout designs;
(7) New plant varieties;
(8) Other objects specified by law
⑦ How to effectively promote the innovative application of blockchain technology in the financial field
On February 24, the China Securities Regulatory Commission issued the fifth meeting of the 13th CPPCC National Committee No. 03009 ( Letter of reply to the proposal of Finance, Taxation and Finance No. 199. Proposed: According to the "Notice on Issuing the National Blockchain Innovation Application Pilot List" by the Cyberspace Administration of China, the People's Bank of China and the China Securities Regulatory Commission actively cooperated with the Cyberspace Administration of China to carry out the pilot work of the National Blockchain Innovation Application and took the lead in establishing the pilot list. Huaitai has established national pilot projects in the characteristic fields of "blockchain + equity market" and "blockchain + trade finance" to effectively promote the innovative application of blockchain technology in the financial field.
With the encouragement and support of multiple policies and financial regulatory authorities, it means that electronic signatures will become a digital business processing tool for financial institutions to realize online business. In the future, electronic signatures and electronic contracts have become the general trend!
Ebaoquan’s brand Junzizhuan, as a professional blockchain electronic signing platform in China, has been committed to creating a one-stop full ecological financial closed-loop service for financial institutions for many years, from signing to depositing certificates to lending. A complete set of mature, reliable and secure blockchain electronic contract solutions, helping financial institutions reduce costs and increase efficiency while improving risk management and control capabilities and effectively promoting the development of online business.
In addition to mature and reliable solutions, Junzi Sign has also successfully applied blockchain technology in the financial industry.
At present, the Junzi Signing Platform has established cooperation with many large domestic banks and achieved efficient business development.
Open up the Internet courts, notary offices, judicial appraisal centers, arbitration committees and other authoritative institutions to create a judicial support service system in Qiangming Town, which can provide complete evidence storage, evidence consolidation and evidence production services. Compared with paper contracts, it has More rigorous and safe legal effect.
⑧ After reading this article, you will have a thorough understanding of the blockchain
In this article, all the content I introduced is about the blockchain in today’s world. The fact that the blockchain field has already happened is not some imagination or opinions about the blockchain. I think that as long as you read this article carefully, you will easily have a basic and accurate understanding of blockchain.
The main content of understanding blockchain in just ten minutes is divided into four sections. 21 topics and 4 sections are:
The first national blockchain strategy.
Second, Bitcoin and its literal representation involve four topics.
Third, blockchain and its technical logic involve 13 topics.
Fourth, blockchain empowers the economy and society, involving three topics.
Let’s first look at the first part of the blockchain national strategy, the first part of the blockchain country. Everyone knows that we humans have experienced six information revolutions. Seven or eight years ago, the first information revolution created primitive language, social tacit understanding, and the second information revolution saw the emergence of writing. The third information revolution in feudal society invented papermaking and printing, and the fourth information revolution in the late 19th century invented radio.
In the fifth information revolution of the 20th century, television appeared again, and now in the sixth information revolution, computers and the Internet have appeared. The emergence of computers and the Internet has given rise to the rapid development of various new technologies. Especially in 2020, the digital economy has experienced epoch-making development.
Why do you say that? The characteristics of high bandwidth, low latency and large connections in the 5G era have enabled the implementation of the four major technologies of ABCD.
What are the four major ABCD technologies
The a here refers to Artificial Intelligence, which is artificial intelligence technology.
B refers to Blockchain, blockchain technology.
C, refers to cloud computing cloud computing technology
D is big data technology.
The word blockchain is now completely popular all over the country. On October 25, 2019, the Political Bureau of the Central Committee of the Communist Party of China announced the development of blockchain technology. The current situation has been collectively studied, so the requirement of this meeting is to use blockchain technology as the core technology.
As an important breakthrough for independent innovation, it is necessary to accelerate the innovative development of blockchain technology and industry. On April 20, 2020, the National Development and Reform Commission officially included blockchain into new infrastructure. Blockchain, why do you think it is so awesome? Let us say that blockchain is not an extension of the Internet, it is a subversion of the Internet. In the future, many, many technologies will grow on this blockchain and realize blockchainization.
So, how can we accurately learn and understand the blockchain?
We found that among the four major technologies of ABCD, only the block is naturally built-in It's financial. Therefore, we must learn and understand blockchain from the IT perspective and the financial perspective, and even learn and understand blockchain from the level of national governance. If you only study and understand blockchain from an IT perspective, it is impossible to understand the huge influence and influence of this technology. Then, your understanding of this will be biased. Even more, you may disapprove of blockchain technology. In addition, in the process of learning about blockchain, you should also pay attention to the fact that it has many new terms, so you need to concentrate on understanding it step by step.
Let’s first understand blockchain from a financial perspective.
Bitcoin and its birth performance
To understand the blockchain, it involves Bitcoin, and what about the birth of Bitcoin? , and it is inseparable from the evolution of currency. We know that currency is a special commodity that is separated from commodities and serves as a fixed general equivalent. In fact, we humans have used a lot of currencies, including physical currency, weighing currency, paper money, accounting currency, etc. As for accounting currency, it includes electronic currency and digital currency. Electronic currency itself is not a currency. It is just used to represent the same amount of currency. It is a token.
Then the total amount of his tokens will not increase due to the increase of electronic currency. Alipay, WeChat, payment, and online banking are typical electronic currencies. As for digital currency, it is itself a legal currency. The total amount of this fiat currency will increase with the increase of digital currency. We know that in physical currencyIn fact, we humans have chosen many things as general equivalents.
Weighing currencies are some heavy metals. Later, people chose gold among the heavy metals. Why choose gold? Because gold has the characteristics of rarity, divisibility, and the most stable chemical properties. What needs to be noted here is gold. It is not issued by any country. It is provided by nature. of. Your country's total amount is as much as nature provides. Therefore, the country does not need to provide credit guarantees for the value of gold.
However, as for gold, it has some flaws in its use, and it is difficult to carry when you go out again, so there are descendants. Paper money appeared in the Northern Song Dynasty. At that time, paper money was not currency in the current sense. The currency at that time was still gold, but we used paper money to represent gold. We called it the gold standard. The gold standard is the gold standard, which is a monetary system with gold as the standard currency. The core essence of the gold standard is that how much currency a country issues should be decided based on how much gold your country has. It does not mean you can issue as much currency as you want.
At that time, the Great Depression of the United States reached January 10, 1934. On this day, the newly elected President of the United States made a very important decision to abandon the gold standard and issue $3 billion. Think about it, abandoning the gold standard, in theory, means that he can issue as much currency as he wants. Even if there is no gold in the treasury, he can issue banknotes as long as he wants to. Then someone will ask, if you issue so many words, can you still exchange them for gold of equal value?
Look at the banknotes at this time, they have been separated from gold, and national credit has emerged. , this, we call it currency guaranteed by national credit. Now, when mainstream countries issue currency, they also issue it with national credit as a guarantee.
What are the benefits? The advantage is that it can regulate the economy. When the economy is not doing well, a little more hair can drive economic development. The increase or decrease in this variable will cause a chain reaction of the entire economic aggregate. This is the multiplier effect in economics. Once a country masters this thing, some countries will be fascinated by it. But if it is not well controlled, it will lead to national credit bankruptcy. As a result, many people began to reflect. This reflection is, when issuing currency, is it better to use national credit as a guarantee, or is it better to stick to the gold standard based on the total amount of gold. This question involves the birth of Bitcoin
⑨ What are the policies to promote the development of blockchain?
Legal analysis: On October 25, the national leader presided over the collective meeting of the Political Bureau of the Central CommitteeThe study conference listed blockchain as an important breakthrough for independent innovation technology.
In the 19 days since then, local governments have issued a total of 44 related policies to encourage the development of blockchain, involving 20 provinces.
Government affairs, medical care, finance and smart cities have become the areas where local governments value blockchain implementation most.
In the process of actively promoting the implementation of blockchain, local governments are also trying to combine their own advantages and local characteristics. For example, in Shanxi, energy has become a key area for blockchain implementation.
Legal basis: "The Fourteenth Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Outline of Long-term Goals for 2035" Article 3 Strategic Orientation: Promote high-quality development during the "14th Five-Year Plan" period , we must base ourselves on the new development stage, implement new development concepts, and build a new development pattern. Grasping the new development stage is the realistic basis for implementing the new development concept and building a new development pattern. Implementing the new development concept provides an action guide for grasping the new development stage and building a new development pattern. Building a new development pattern is to respond to the opportunities and challenges of the new development stage. , strategic choices to implement new development concepts. We must persist in deepening supply-side structural reforms, lead and create new demands with innovation-driven, high-quality supply, and improve the resilience of the supply system and its adaptability to domestic demand. We must establish an effective system to expand domestic demand, accelerate the cultivation of a complete domestic demand system, strengthen demand-side management, and build a strong domestic market. We must unswervingly advance reform, break down institutional obstacles that restrict economic circulation, and promote the circulation of production factors and the organic connection between production, distribution, circulation, and consumption. We must unswervingly expand opening up, continue to deepen openness based on the flow of factors, steadily expand openness based on institutions, and rely on the domestic economic cycle system to form a strong gravitational field for global factor resources. It is necessary to strengthen the leading role of the domestic general cycle, improve the efficiency and level of the domestic general cycle with the international cycle, and realize the mutual promotion and advancement of the domestic and international dual cycles.
⑩ The great chess game of the times: the central bank’s digital currency supports China’s bold implementation of free convertibility of the renminbi - draft
The great chess game of the times: the central bank’s digital currency supports China’s bold implementation of free convertibility of the renminbi
A guide to currency governance 6 days ago
The central bank’s digital currency is a great chess game of the times!
Asia Weekly published an article in 2019. A visionary god predicted that the RMB will be freely convertible and thoroughly dismantled the logic!
As of June 18, 2020: The top decision-makers of the Party Central Committee in the fields of economy, finance, and securities simultaneously announced the "free convertibility of the RMB" at the 12th Shanghai Lujiazui Forum, and Singapore's senior officials took advantage of the opportunity to Shanghai exchanges views on digital currency interconnection!
01
The central bank's digital currency is disguised to realize the free exchange of RMB
If today's RMB is limited by free exchange, it cannot become the basic settlement currency in international trade overseas, Then, if the virtual digital currency issued by the central bank relying on blockchain technology is accepted by a large number of digital currency exchanges, it will be equivalent to realizing the free convertibility of RMB from another level. In international trade, any party holding the virtual digital currency of the Central Bank of China can exchange this digital currency for Bitcoin or other virtual digital currencies through an exchange, and then exchange it for other legal currencies. In this way, China will get rid of the traditional foreign exchange settlement channel under the hegemony of the US dollar and is expected to create a new settlement currency for international trade. Even if it cannot replace the US dollar for the time being, it can replace stablecoins such as USDT in Internet trade, and it can also become the basic currency for international personal payments.
At present, China is worried about foreign exchange outflows and dare not allow the free convertibility of the RMB. In the future, the outflow of the central bank's virtual digital currency will have nothing to do with foreign exchange, because the anchor behind it will definitely still be the RMB. This also breaks the current curse of asset outflows and foreign exchange declines. Even if the outflow of virtual digital currencies is allowed, there is no need to worry about a decrease in foreign exchange reserves. This is why we believe that at this moment, the central government should elevate to the Politburo level to pay attention to the development of blockchain technology.
The third type of virtual currency is a comprehensive innovation of security tokens that takes advantage of blockchain technology to "confirm ownership." The 2017 ICO made many people discover that tokens combined with smart contracts can actually use funds more effectively than stocks, bonds, options, etc., while improving efficiency. However, because the existing legal regulatory framework cannot effectively regulate the responsible parties for token financing, the token economy has begun to become somewhat bleak in the past two years. There are also various problematic projects that use tokens to fish in troubled waters, making tokens The economy is considered a "scam". However, as the world gains a greater consensus on blockchain and more information and rights are put on the "chain", the token economy, which has made huge innovations in the existing financial system, will eventually return.
In LibertarianismUnder the influence of the "cypherpunk" organization led by activists, the road to virtual digital currency starting from Satoshi Nakamoto's Bitcoin white paper was originally intended to subvert the international financial system dominated by the U.S. dollar, and also to subvert any country's legal currency. centered global economic order. Now, with the help of blockchain, China may be able to challenge the hegemony of the US dollar, but it also has to face the challenge of decentralization, and it is impossible for China to establish an international financial system dominated by RMB. The line written by Satoshi Nakamoto in the Bitcoin genesis block mocked the old financial order. Today’s financial order in China is also within the scope of his ridicule. As China fully embraces blockchain, it needs to understand and utilize blockchain better than the United States to help rebuild the new global economic order and financial system. This is the real breakthrough.
China also has a more favorable advantage than the United States, which is that China is not as dependent on the hegemony of the US dollar as the United States, so it is easier for China to turn around. With the top-down emphasis on blockchain technology, in addition to finance, blockchain, a decentralized social organization idea that combines "people" and "machine", will inspire more people. Gradually manifest and play its role. This may have more far-reaching consequences.
02
RMB 3.0, that is, the central bank's digital currency will break through the US dollar monopoly. Find a way to achieve economic breakthrough and challenge the hegemony of the US dollar. China is studying to launch a "RMB 3.0" cryptocurrency system, which will be linked to sovereign credit and establish an appropriate proportional relationship with national GDP, fiscal revenue, and gold reserves. China leads the world in the field of blockchain. There are seven Chinese companies in the top ten of the global blockchain enterprise invention patent rankings, and China's patents account for 67%.
Blockchain is China’s search for an economic breakthrough during the Sino-US trade war. It is not only a new industrial economic growth point, but also regarded as a challenge by China.A recipe for fighting dollar hegemony. Blockchain has recently received great attention from China's top leaders. In a speech on October 24, they called blockchain "a breakthrough for independent innovation in core technologies." Subsequently, the People's Daily and other official media published editorials in support, which also led to China's Blockchain-related stocks in the stock market have surged. Bitcoin surged by 20% on October 27, and blockchain concept stocks in the Shanghai and Shenzhen stock markets are also rising. The development of blockchain in China has two directions. The first is to combine blockchain technology with real industries to promote and improve the efficiency of existing industries. The second is to launch the "RMB 3.0" currency system to fight against the hegemony of the US dollar and find a new way to develop. The currency system further digitizes the RMB (digital, digital).
RMB 3.0 represents the RMB entering a new stage. Huang Qifan, Vice Chairman of the China Center for International Economic Exchanges, said that the People’s Bank of China is likely to be the first central bank in the world to launch a digital currency. RMB 1.0 is a paper currency, while RMB 2.0 is going electronic, entering the homes of ordinary people through Alipay, WeChat payment and other systems, and becoming a daily payment tool. RMB 3.0 is digital and becomes a cryptocurrency. Any currency involves the issue of mortgage and support. Huang Qifan believes that digital currency should be linked to sovereign credit and establish an appropriate proportional relationship with national GDP, fiscal revenue, and gold reserves to serve as credit support for RMB 3.0. He also said that the digital currency of the People’s Bank of China should be (DCEP) is a replacement for M0 (cash in circulation), rather than digitizing existing currencies, that is, gradually converting cash on the market into cryptocurrency. RMB 3.0 will get rid of concerns about exchange rate fluctuations with the US dollar, compete with each other, and promote the digital RMB to form a new ecosystem. With the support of huge domestic demand and the "One Belt, One Road" initiative, the hegemony of the US dollar will be challenged. At the current juncture of the Sino-US trade war, this is China's "sudden emergence" as a bargaining chip, posing strong pressure on the United States.
China has long been a pioneer in blockchain applications. In 2014, when Vitalik Buterin, the inventor of Ethereum, developed the "next-generation cryptocurrency and decentralized application platform," he relied on the support of Chinese investors. Today, at least seven of the top ten global virtual currencies are closely related to the Chinese and global Chinese. The Chinese’s deep involvement in the blockchain field is actually also reflected in the Bitcoin “mining” project. Today, about 70% of miners are still in China. The world's largest mining company "Bitmain" and Canaan are both Chinese companies.
China's blockchain scientific research results are also the best in the world. According to the "Global Blockchain Enterprise Invention Patent Ranking in the First Half of 2019" jointly released by the intellectual property industry media IPRdaily and the incoPat Innovation Index Research Center "List", seven of the top ten companies applying for patents are Chinese companies, and only two are from the United States. The top two are China's Ant Financial and Ping An. In terms of countries, China accounts for 10% of patentsOf the 67, the United States ranks second, accounting for only 16%. On the contrary, China has overtaken the United States in blockchain scientific research. Alibaba's blockchain application scenarios include drug authenticity traceability, cross-border mobile phone transfers, electronic bills, etc., reflecting that in addition to cryptocurrency, China is also working hard to support the real economy with blockchain.
The "2018 China Blockchain Industry White Paper" released by the Ministry of Industry and Information Technology of China last year also planned that the industries for future blockchain development include: commodity traceability, copyright protection and transactions, and electronic evidence storage. In more than a dozen industrial fields such as certificates, financial science, precision marketing, big data trading, industry, energy, medical, and digital identity Internet of Things, the "People's Daily" commentary also stated that blockchain innovation should be related to the hype of cryptocurrency and air currency. Differential treatment also points out that blockchain needs to be further developed and improved in terms of security, standards, and supervision, which means that it must be implemented and contribute to the real economy.
03
The source flow of the blockchain
Ten years ago, the founder of Bitcoin, Nakamoto, wrote a line in the creation block of the world. The permanently preserved text is the title of the front-page article in The Times that day: "On January 3, 2009, the chancellor is on the verge of implementing a second round of bank emergency bailouts." The purpose of Satoshi Nakamoto's move Obviously, he wanted future generations to look up the genesis block to see that a new financial system was born at a moment when the old financial system was weak.
In the past ten years, Bitcoin has transformed from a game played by a few technical geniuses into a global financial tool. The blockchain technology summarized by Bitcoin has become the future The underlying foundation of the smart era. The span of this decade has dazzled many people. In fact, there is no need to extend the time to ten years. Even the changes in recent months have shocked many people.
Facebook’s plan to build Libra failed
In June 2019, Facebook launched Libra, a stable currency anchored to multiple currencies, which almost reshaped the global payment landscape. Of course, this ambitious plan has been strongly blocked by the vested interest groups that currently control the hegemony of the US dollar in the name of supervision, causing Libra to be in trouble. On October 23, Facebook founder Mark Zuckerberg testified before the U.S. Congress: “We need to discuss the risks of not innovating, especially the Chinese central bank’s digital currency... If China’s financial system becomes With the standards of more and more countries, it will be difficult for the United States to implement sanctions and various protective measures in the future.”
In the context of the current confrontation between China and the United States, Zuckerberg’s warning has just finished. There was an echo. China stepped forward from the highest level and cleared the biggest obstacle to the central bank’s digital currency. On the afternoon of the 24th, the Political Bureau of the CPC Central Committee held its 18th collective study session on the current status and trends of blockchain technology development. The country emphasizes: "We must strengthen basic research, improve original innovation capabilities, and strive to make our country at the forefront of theory, occupy the commanding heights of innovation, and gain new industrial advantages in the emerging field of blockchain."
On September 4, 2017, after seven departments including the Central Bank, the Cyberspace Administration of China, the Ministry of Industry and Information Technology, the State Administration for Industry and Commerce, the China Banking Regulatory Commission, the China Securities Regulatory Commission, and the China Insurance Regulatory Commission issued an absolute ban on ICO financing, the development of the blockchain industry in China actually entered a new phase. A gray area. The ban has been imposed from top to bottom, seeming to limit the exploration of blockchain applications and development within the industry. The current top-level characterization of "taking blockchain as an important breakthrough for independent innovation in core technology" is tantamount to completely lifting the ban. Central bank digital currency can soon move from theory to practice, and other aspects should be liberalized accordingly.
As a technology, blockchain is not complicated. The key to blockchain is that it provides a decentralized social organization idea that combines "people" and "machine". What is important is society’s consensus and practice of this idea. If we say that in the first five years of Bitcoin, it was difficult for many people to see the birth of a new financial system, but in the last five years, especially the smart contracts that Ethereum relied on, people saw an upgraded version of Bitcoin. That is to say, the emergence of the so-called blockchain 2.0, people can really use this to completely rewrite the existing financial order, not only the payment order, but also the securities order, including the banking order, etc.
05
Switzerland Singapore has promoted blockchain
In the past five years, many countries that seek to occupy a higher status in the global financial system have already taken action and fully accepted the blockchain. , typically such as Switzerland and Singapore. They have long become believers of Satoshi Nakamoto and have long believed in the grand goal of Bitcoin's design. They are also practicing. But although their efforts have had an impact on the blockchain industry, they are not enough to shake the world's financial system. why? Because they are too small, the "consensus" formed by their country is not enough to drive the entire world.
Therefore, once major countries like China or the United States that can influence the world recognize the idea of blockchain and then apply specific technologies to various industries, then a global consensus will be established. Only then will a new financial order emerge. Therefore, China and the United States are bound to encounter each other in terms of blockchain consensus standards. In recent months, such encounters have suddenly come to light.
Satoshi Nakamoto, who originally designed Bitcoin, whether he is a person or a team, whether he lives or dies, he laid the foundation for the creation of a financial system based on the Internet. However, the subsequent development of virtual currencies starting from Bitcoin and blockchain exceeded Satoshi Nakamoto's expectations and became more complex. Satoshi Nakamoto's design was to make Bitcoin a third-party payment currency in Internet trade. This goal has obviously not been achieved. Today's Bitcoin, in Internet trade, fulfills the role of another kind of financial work.
The so-called Internet trade does not refer to e-commerce, which moves offline stores online and then sells them. In the design of Satoshi Nakamoto's Bitcoin white paper, Internet trade refers to trade that arises from the Internet ecosystem and is then traded in the Internet ecosystem. Because there is no offline involvement at all, transactions can be conducted through Bitcoin, a purely virtual currency. But now, with a constant total amount, Bitcoin is increasingly becoming a reserve currency and a tool that can be regarded as a store of value like gold. On the contrary, Libra in the design, or the central bank virtual currency that the People's Bank of China has been mentioning for a long time, can become a payment tool in Internet trade.
Today, relying on blockchain technology, three different types of virtual currencies have emerged. The first is Bitcoin. As more and more people around the world recognize Bitcoin, the so-called "consensus" is getting stronger and stronger. Bitcoin, whose current price is constantly fluctuating, will inevitably find a balance in valuation.
The second type is "Stablecoin" as a payment tool. Libra’s mission is to “build aA simple global currency and financial infrastructure that serves billions of people.” Mu Changchun, director of the Digital Currency Research Institute of the People's Bank of China, said in September that the People's Bank of China's version of digital currency is "ready to come out." Moreover, the People's Bank of China's version of digital currency will adopt a two-tier structure and will be issued to institutions as well as directly to individuals. This means that China’s central bank’s digital currency is expected to become a tool for global netizens to enter the virtual currency trading market, replacing the current role of stablecoins such as USDT. More importantly, with the recognition of the world's second largest economy, which is the consensus of more than one billion people, the Chinese central bank's version of virtual digital currency can easily be accepted as a transaction tool for cross-border payments.
Original publication time is 2019-11-06
