艾场区块链,艾媒网2019-2020区块链大会
请查看相关英文文档
1. Why is the integration of blockchain and privacy computing an inevitable trend?
From a larger perspective, to build a comprehensive privacy protection and governance system, not only Integrating multiple technologies such as blockchain, artificial intelligence, big data, and privacy computing also requires the combination of laws, regulations, regulatory governance, and many other strategies.
In the digital society, everyone has a stronger demand for data production factors. Whether it is user services or business marketing, a large amount of data needs to be used, especially in the distributed collaboration business model. Everyone hopes that data can flow smoothly and the value of the data can be reasonably reflected. But contrary to this, data silos still exist and the extensive use of data still needs to be solved.
At the same time, legal compliance has become the general trend. Whether domestic or international, laws and regulations related to personal information protection and data security have been promulgated one after another, which have put forward more stringent requirements for personal information protection and data security. This means that the security of data must be ensured and the privacy rights of individuals must be respected; in the entire life cycle of data, comprehensive specifications must be implemented to achieve compliant circulation.
Being user-centered, exchanging data under the premise of security and privacy, and providing high-quality and compliant services are the trends in the construction of a digital society, which require more improvements in technology, business models, and governance systems. Innovation. Initiatives such as introducing private computing into distributed systems and developing compliant data exchanges all reflect this innovative spirit.
In the field of privacy computing, blockchain, federated learning and secure multi-party computing have become three key core technologies, and these three technologies have different focuses on each other and have many overlaps and connections.
Among them, from the perspective of blockchain, we can see that on the one hand, the data on the blockchain needs to be protected by privacy algorithms; on the other hand, the blockchain can also become a privacy computing The base and hub in collaboration: Use blockchain technology to record and trace data sets, algorithm models, and calculation processes in multi-party collaboration, evaluate and reach consensus on the final results, and continuously optimize collaboration efficiency.
In the past few years, when we explored application implementation in the blockchain field, we often used blockchain to build "distributed ledgers" for business scenarios. Compliant applications will perform KYC (Know Your Client) on users and merchants, and there are many questions that need to be answered through innovative solutions such as privacy computing.
For example, can identity information be disclosed to the entire consortium chain? At the time of the transaction, are the transaction amounts and relevant parties clearly disclosed? Can the assets owned by everyone be queried at will? Can people's business practices be misused without authorization?
For example, point cards in consumption scenariosIn the coupon business, merchants usually do not want to expose their business conditions too much, such as how many users open cards, recharge, and daily turnover, etc.; individual users also do not want their consumption behavior to be publicly scrutinized.
Therefore, before the privacy issue can be completely solved, the approach we usually adopt is to introduce core authorities to participate in consensus and maintain the full ledger, while other participants are layered and sharded with different permissions. role participation. However, this increases the complexity of the system to a certain extent and affects the user experience. At the same time, it brings challenges to the scale and popularization of blockchain applications.
At present, blockchain is also commonly used in the field of government affairs, such as smart city management and various people's livelihood applications, to provide everyone with a good experience of "one-stop service", which requires multiple fields and multiple regions. , Multi-department collaboration. We can see that government affairs applications have wide coverage, many roles, and data have multiple levels of sensitivity and importance.
Blockchain can serve as a base for distributed collaboration, building a hub for data circulation through data directories, data lakes, etc., while introducing privacy computing and comprehensive governance rules to define the boundaries of data and make data While "not leaving the database", capabilities such as identity authentication, hidden query, and model construction can still be achieved.
From a larger perspective, building a comprehensive privacy protection and governance system requires not only the integration of blockchain, artificial intelligence, big data, privacy computing and other technologies, but also the integration of legal Regulations, regulatory governance and many other strategies.
Blockchain privacy protection has rich scenarios, numerous roles, diverse processes, and three-dimensional data. We can use the "double loop" mechanism for further analysis.
First of all, we start from the user side, respect the user's right to know and control the data, and leave important data to the user for management.
For example, among the "four elements" of identity verification, the user's identity credentials and contact information usually come from authoritative agencies such as governments and operators. When users have contact with a certain business scenario, they do not need Provide all plaintext information, and only need to selectively disclose some verifiable credentials to replace the plaintext.
Based on the distributed verification mechanism, multi-scenario verification can be realized to prove one's legal identity. At this time, even if the business provider does not obtain more plaintext data, it cannot refuse service. This fundamentally reduces or even eliminates the risk of leakage of users’ key privacy.
Secondly, on the business side, technologies such as federated learning and secure multi-party computing can still be used to process business data that has been authorized by users and collected in compliance with regulations.
Under the premise of the user’s informed consent, collaborative computing with partners is realized on the B-side, the data does not leave the database, and the privacy is not leaked.Exposed, but to achieve matters of important value to business operations such as risk control, marketing, advertising, etc. Ultimately, the business results are improved, which not only brings benefits to the business side, but also provides users with better services or returns on equity. Its entire value system is closed-loop, compliant and sustainable.
For example, in the Internet of Things and blockchain, on the collection side, it is necessary to assign identities and identifiers to devices, and at the same time, the algorithm must be able to de-identify and prevent leakage; on the user side, it must not only provide personalized Services must also prevent unnecessary profiling. While verifying user identities and qualifications, they must not track user behavior for no reason. Ultimately, when providing high-quality services and securely storing user data, they must respect The user's wishes, including the requirement to log out.
Such a "dual cycle system" may not only technically require iterative reconstruction of devices, APPs, and backend services, but may also produce many innovations in its business model, operational governance concepts, etc. . The entire chain will be very long, and a lot of work needs to be done, covering a vast industrial chain such as chips, hardware, networks, software, and cloud platforms.
At present, there is no single technology that can “conquer the world” and meet the requirements of “full link” and “dual circulation”. Then we might as well break down the scenario a little more, list it more comprehensively, combine some technologies and solutions, and first solve the pain points in a certain scenario.
In fact, when we communicate with many industrial application developers, they prefer to focus on specific and urgent problems and get targeted and implementable solutions, such as hiding the amount when transferring money. , scores will not be disclosed when ranking, identity will not be revealed when voting, videos will not be leaked during the KYC process, etc.
Problems in specific scenarios can often be addressed in a targeted manner based on a certain algorithm or a combination of algorithms in privacy computing. We can work hard every day to solve scenario-based problems one after another, make up for things that may have been missed before, introduce new technologies and new ideas to foreseeable rigid needs, and implement them innovatively. In this way, the data security fence will be gradually raised bit by bit, and eventually the Great Wall of data security will be built.
In distributed collaboration, many scenarios are cross-institutional and cross-network. Whether it is blockchain or privacy computing, there will be requirements to interoperate with other partners and other platforms. We see that the relevant working groups of the Academy of Information and Communications Technology are discussing a number of interconnection specifications. The core framework is to achieve "node interoperability", "resource interoperability" and "algorithm interoperability".
Node interoperability requires basic elements such as networks and protocols to be interoperable. Resource interoperability emphasizes the release and storage, addressing and use of resources, and governance and auditing (including deletion of data, offline services, etc.). At this level, everyone implements a relatively consistent view and provides a common interface.The interoperability of algorithms is very detailed and scenario-based. Each algorithm has its own characteristics. Its cryptographic foundation, operation rules, and collaboration processes will be different. In turn, the resource management qualifications and the topology of the node network will also be different. Ask for more.
On the basis of interoperability, there are also requirements such as "self-consistency", "security", and "correctness", and with the development of the field, the "scalability" of continuously adding more functions is also very important. important. In the past, everyone may have worked hard to accumulate technology and experience. In the future, when implementing it, they need to pay more attention to interfaces and specifications, open their minds, communicate and build together, and seek consensus and win-win results through open source and open methods.
To summarize, here are some thoughts on the development of privacy computing:
Third, achieve standardization and popularization to promote the large-scale implementation of new technologies and new concepts. For example, relevant industry standards and evaluation systems are of great benefit to help practitioners clarify their development paths and meet industry requirements.
After so many years of blockchain development, apart from the technology itself, the most difficult thing is actually “how to explain clearly what a blockchain is”. It is hoped that in terms of popular science promotion, the emerging privacy computing will have more new ideas and achieve better results.
Looking back at the craze of blockchain and privacy computing, we see that industry and society are calling for data security and privacy protection, and the industry has already produced many available research results and has received certain recognition. Looking into the foreseeable future, we will be more open and pragmatic, focus on users and scenarios, and explore standardized, large-scale, and sustainable application paths.
2. Advantages of blockchain technology
1. Decentralization:
Blockchain technology does not rely on additional third-party management agencies or hardware facilities, and there is no center In addition to the self-contained blockchain itself, each node realizes information self-verification, transmission and management through distributed computing 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 parties to the transaction being encrypted, the data of the blockchain is open to everyone. Anyone can access it through the public The interface queries blockchain data and develops related applications, so the entire system information is highly transparent.
3. Independence:
Based on consensus specifications and protocols (similar to various mathematical algorithms such as the hash algorithm used by Bitcoin), the entire blockchain system does not rely on other third parties, and all nodes can Verify and exchange data automatically and securely within the system without any human intervention.
4. Security:
As long as 51% of all data nodes cannot be controlled, network data cannot be manipulated and modified at will. This makes the blockchain itself relatively safe and avoids subjective and artificial data changes.
5. Anonymity:
Unless there are legal requirements, technically speaking, the identity information of each block node does not need to be disclosed or verified, and information transfer can be done anonymously.
Digital China is a major development strategy clearly proposed for the first time in the report of the 19th National Congress of the Communist Party of China. Digital technology applications represented by cloud computing, big data, and mobile Internet are no longer limited to the economic field, but have widely penetrated into public services, social development, and all aspects of people's lives, requiring macro coordination, overall control, and integrated development.
With the new round of technological revolution and industrial transformation continuing to deepen, the wave of digital economy is unstoppable on a global scale. Developing the digital economy has become a global consensus and is known as the key to opening the door to the fourth industrial revolution.
Adhering to the inclusive and humanistic spirit of the University of Nice, always embracing changes, staying ahead of the curve, adapting to the development trends of the digital economy era, and integrating the essence of Chinese and Western cultural thinking, the University of Nice's "Doctorate in Blockchain and Digital Economic Management" ( DDE for short) came into being.
This is the cornerstone to empower digital economy industry managers with a global vision and global integration thinking, integrate knowledge, intelligently operate the digital economy, promote the sustainable development of the industry, and contribute to a community with a shared future for mankind. Therefore, the DDE project will advance in collaboration with colleagues in the digital economy field.
If you have any questions about MBA, please feel free to ask me ღ(´･ᴗ･`)~~~~
3. "Digital Economy 2.0 Discovers New Opportunities in Traditional Industries and Emerging Business Forms" 》epub download and online reading, please ask for Baidu network disk cloud resources
"Digital Economy 2.0" (Ma Wenyan) e-book network disk download for free online reading
Resource link:
Link:
Extraction code: su04Book title: Digital Economy 2.0
Author: Ma Wenyan
Publisher: Democracy and Construction Press
Publication year: 2017-4
Number of pages: 320
Content introduction
2016 G20 Hangzhou Summit On the Internet, the development of digital economy has been proposed as the main path for China's innovative growth, and has received positive response and support from all parties. In 2017, "digital economy" was included in the government work report for the first time: to promote the accelerated growth of the digital economy so that enterprises and the masses can benefit broadly. On January 7, 2017, Gao Hongbing, Vice President of Alibaba Group and Director of Alibaba Research Institute, released the "Digital Economy 2.0 Report". On March 3 of the same year, Ma Huateng, chairman of the board of directors of Tencent, believed that "digital economy" and "Internet +" are in the same vein. "Internet +" emphasizes connection, and "digital economy" emphasizes output and benefits after connection.
With the in-depth development of the fourth industrial revolution represented by Internet industrialization, industrial intelligence, and industrial integration, cloud computing and big data governance have emerged in the digital economy business ecosystem., artificial intelligence, Internet of Things and blockchain, etc., the digital economy 2.0 era is marked by digitization, which has profoundly affected new retail, new real economy, information consumption, Internet + movies and other emerging industries, reshaping business models and innovating industries appearance, injecting new driving force into the digital economy.
About the author
Ma Wenyan
A managing director (CIC) of China’s sovereign wealth fund, China Investment Corporation Managing Director), has been responsible for many investment projects in the finance, energy, mining and high-tech industries (from 2014 to 2015, he was assigned to the North American Representative Office of China Investment Corporation and served as the chief representative of the company's only overseas institution). Previously on Wall Street in New York, Ma Wenyan was one of the few Chinese professionals with legal backgrounds in both investment banking and Sino-US financial capital markets. He has served as a visiting professor at New York University's Stern School of Business and Tsinghua University's School of Economics and Management. In 2013, he won the annual "Young Global Leader" honor from the World Economic Forum in Davos, and in 2014, he won the New York University Distinguished Alumni Award.
4. How to use modern information technology such as blockchain to improve the digitalization level of supply chain finance
In recent years, supply chain finance has been affected by many policies at the national level. Encouragement is an important way for my country to serve the real economy and support small and medium-sized enterprises. On July 6, 2019, the China Banking and Insurance Regulatory Commission issued the "Guiding Opinions of the General Office of the China Banking and Insurance Regulatory Commission on Promoting Supply Chain Financial Services to Serve the Real Economy", requiring banking and insurance institutions to rely on core supply chain enterprises to provide upstream and downstream chain enterprises with A package of comprehensive financial services such as financing, settlement, and cash management. In September 2020, eight departments including the central bank, the Ministry of Commerce, and the Ministry of Industry and Information Technology issued the "Opinions on Regulating the Development of Supply Chain Finance to Support the Stable Cycle and Optimization and Upgrading of the Supply Chain Industrial Chain", requiring financial institutions and entities to strengthen information sharing and collaboration to improve The online and digital level of supply chain financing has improved the efficiency of accounts receivable financing for small, medium and micro enterprises, and has become a programmatic document for the development of supply chain finance in my country. The 2021 Government Work Report separately mentions "innovative supply chain financial service models" for the first time, which means that the development of supply chain finance has become a national strategy. It can be seen from this that the state emphasizes on the service model to play the credit transmission role of core enterprises based on the authenticity of trade; on the application of technology, it encourages the role of blockchain, big data, Internet of Things and other technologies , monitor the flow of information such as property rights and claims in the industrial chain to solve the problem of business credit risk management and control.
According to data from the National Bureau of Statistics, the accounts receivable of my country's industrial enterprises above designated size exceeded 16 trillion yuan in 2020, an increase of 15.1% from the end of 2019; the inventory of finished products reached 4.6 trillion yuan, an increase of 7.5%. The balance of accounts receivable continues to increase nationwide, and the proportion of liquid assets also continues to rise. Problems such as slowdown in corporate working capital turnover, high financing pressure, and high liquidity risks in accounts receivable cannot be effectively alleviated, to a large extent.It has a great influence on the healthy development of small and medium-sized enterprises and the good operation of the economy. It is urgent to solve the working capital pressure of real enterprises, especially the financing problems of small, medium and micro enterprises. "Ask the easy questions and solve the difficult ones." To solve the financing problems of small, medium and micro enterprises, we must first solve the problem of mutual trust between banks and enterprises in the industrial chain, and truly realize that the information on financial services and business operations is well-founded, verifiable and consistent. Returning to the essence of blockchain is actually to use technologies such as data encryption, multi-party verification, and blockchain storage to solve problems such as difficulty in verifying the authenticity of assets and trade information between buyers and sellers in the industry chain, and high cost of credit assessment; through blockchain technology To optimize the production relations of the inclusive financial ecosystem and accelerate the improvement of supply chain financial innovation service models and service capabilities.
According to the "Blockchain Financial Application Development White Paper (2020)" released by the Industrial and Commercial Bank of China Financial Technology Research Institute, supply chain finance regards the core enterprises in the supply chain and its related upstream and downstream enterprises as a whole. Relying on core enterprises and taking real trade as the premise, we use self-reimbursement trade financing to provide comprehensive financial products and services to upstream and downstream enterprises in the supply chain. By observing the current development of supply chain finance business, we found that its large-scale substantial advancement still faces many difficulties.
Multiple levels of credit transmission are blocked. Restricted by corporate reputation and traditional financial risk control requirements, the self-built supply chain financial platforms of most financial institutions and core enterprises mainly focus on the first-level upstream and downstream of core enterprises, but can truly cater to the second-level, third-level, and N-level upstreams. There are very few downstream enterprises that can use the real trade links of core enterprises as credit endorsement to carry out financing business. Under existing business operations, we often face situations where core enterprises or key enterprises are not proactive and unwilling to cooperate in confirming rights. The reason is that there is often no direct trade relationship between core enterprises and N-level enterprises, and core enterprises in a strong position are not willing to cooperate; there are also problems such as high frequency of confirmation of rights, cumbersome offline operations, and concerns about the leakage of commercial secrets. Therefore, small, medium and micro enterprises in the industrial chain cannot solve their own financing problems with the help of core enterprise credit and trade flow information, and the credit "watering" of core enterprises only reaches first-level upstream and downstream enterprises. Blockchain has the characteristics of distributed ledger, transparent traceability, automatic execution of smart contracts and other characteristics, which has become the exploration direction of technology application to solve credit disassembly and realize multi-level credit transmission.
The authenticity of the trade is difficult to verify. Supply chain finance relies on real trade transactions to carry out financing. However, in practice, due to the lack of effective verification methods and multi-dimensional risk control data sources, it is difficult for financial institutions to know the authenticity of transaction information, and manual verification Costs remain high, resulting in information asymmetry and trust gaps between banks and enterprises. In recent years, there have been frequent news incidents of loan fraud involving companies colluding and colluding with false trade. Therefore, solving the information asymmetry between banks and enterprises has become a necessary condition for the smooth development of supply chain finance. Blockchain's multi-party maintenance of the same ledger, built-in timestamp, and non-tampering characteristics have begun to be used by industry insiders to build multi-dimensional trusted data sources.Ensure transaction information is verifiable.
Information from multiple parties in the industry chain is separated from each other and cannot be shared. The links, enterprise types, participants, etc. involved in supply chain finance are relatively complex and diverse. The information and data islands of each supply chain participant have not been effectively connected. Faced with problems such as difficulty in matching capital flow, information flow, business flow, and cargo flow, it has not been able to form a The synergistic effect of the entire industrial chain has hindered the development of supply chain finance, making it difficult and difficult to cure the stubborn problem of financing difficulties and expensive financing for small and medium-sized enterprises.
In response to the above-mentioned outstanding problems in the development of supply chain finance, my country has proposed an "innovative supply chain financial service model" at the central government level for the first time. As an emerging financial service model, industry insiders generally believe that in order to innovate the supply chain financial model, it is necessary to accelerate the digital transformation of supply chain finance, conduct business online and digitally, and use blockchain, big data and other technologies to solve trade confirmation issues. , transaction authenticity and other issues, helping financial institutions control transaction risks and build a digital trust mechanism. The key is to make the information data in supply chain financial activities credible, transparent, mutually verified and traceable.
Blockchain technology has been identified as an important breakthrough for independent innovation of national core technologies. The Ministry of Industry and Information Technology positioned it as a new infrastructure in 2019 and has begun to serve the real economy on a large scale, reducing costs and increasing efficiency for the real economy. According to statistics from CCID Blockchain Research Institute, blockchain accounted for 29% of application implementation projects in the financial field in 2019, the highest proportion among application implementation projects in the same period, covering electronic vouchers, payment and settlement, and insurance claims. , credit investigation, loan financing and other business scenarios. According to the "China Blockchain Development Report (2020)", it is expected that the market size of my country's blockchain core products and solutions, as well as related derivative industries, will reach 10 billion yuan by 2022. From the perspective of the technology itself, according to the "White Paper on Supply Chain Finance Based on Blockchain Technology (2020)", blockchain is a kind of data block that is connected sequentially in chronological order and combined into a chain data structure that distributes, Distributed ledger technology that is consistently stored among all participants and uses cryptography to ensure that data cannot be tampered with or forged. Blockchain is the integration of a series of technologies such as point-to-point network, data encryption, distributed data storage, and consensus mechanisms. It has the characteristics of multi-center, non-tampering, traceability, and high security. As a new cutting-edge technology, blockchain is naturally suitable for supply chain finance business scenarios involving multiple parties, and has great talent to promote supply chain finance to deeper industrial applications.
Faced with the difficulties faced by supply chain finance business development, the blockchain-based supply chain finance platform has changed the business development model in the following aspects.
Confirm the rights of basic claims. Since the logic of supply chain financial financing services is to transfer the debt claims formed based on the supply chain as a financial asset to achieve financing, it is necessary to confirm the rights of the basic claims, that is, to confirm that the basic claims have been truly generated and confirmed. Unfavorable factors that may affect the effective exercise of the underlying claims have been eliminated. Facing the reluctance of core enterprisesIn line with the practical issues of rights confirmation, the blockchain-based supply chain financial platform transforms claims into blockchain digital certificates that can be freely split, transferred for payment, and financing, and can realize accounts receivable transactions in multi-level enterprises. circulation between. While ensuring the authenticity of the trade, this model is equivalent to pre-confirmation of rights. Financial institutions can directly lend money based on the blockchain digital certificate in one step online, changing the traditional offline lending model.
Achieve multi-level transmission of credit. The core of supply chain finance is credit. Only multi-level transmission of credit can effectively provide financing services to small, medium and micro enterprises based on the credit of core enterprises. Different from the traditional supply chain finance method, the credit of core enterprises can only be transmitted to first-level enterprises. Financial technologies such as blockchain are used to generate transferable digital certificates on the platform, and the underlying assets of debts and claims generated by trade are transferred through the blockchain. Generate unique digital credentials. Its block chain structure with timestamps can ensure that digital certificates cannot be tampered with, are highly verifiable and traceable, can be transferred and split, and turn corporate credit into a tool. After multiple splits and transfers, digital certificates can clearly retain the core corporate credit, allowing the core corporate credit to be passed along trusted trade links to the end of the industrial chain. For example, after a first-tier supplier signs for a voucher issued by a core enterprise, it can transfer it to the upper-tier supplier as a means of payment based on the real trade background, which solves the problem that the core enterprise's credit cannot be transferred to multi-tier suppliers.
Ensure the authenticity of trade. By fully recording and uploading basic materials related to trade in the supply chain - contracts, invoices, documents, funds and other information - all types of data can be shared in a timely manner. Utilizing blockchain's real-name authentication, cross-verification identity access, authentication, etc., can ensure the credibility of data sources; technical features such as multi-level encryption and signature verification can ensure data security. Combined with big data analysis technology, the authenticity of trade data can be verified through cross-validation, which can effectively reduce the verification and risk control costs of offline authenticity, build a new trust mechanism and efficient collaboration mechanism, and effectively support supply chain finance. The service covers multi-level enterprises in the supply chain, especially small, medium and micro enterprises at the end.
With the popularization of technology, the exploration of supply chain financial innovation models based on blockchain is in the ascendant. For example: Zheshang Bank cooperated with Qulian Technology in 2017 to launch the accounts receivable chain platform. The platform adopts the "blockchain + supply chain finance" model and can handle the issuance, acceptance, confirmation and payment of accounts receivable. , transfer, pledge, redemption and other businesses, converting accounts receivable into electronic payment settlement and financing tools, revitalizing the originally illiquid accounts receivable assets; Tianjin Free Trade Pilot Zone launched a blockchain-based receivable Xin Warehouse is the country's first supply chain financial innovation model that integrates warehouse receipt pledge, disposal, trading, and risk control and price locking.
As one of the important starting points for financial digital transformation, blockchain has entered a comprehensive construction stage. The original intention of building blockchain is to empower the development of industry and finance. By leveraging the role of blockchain in building digital trust, we can build new organizational relationships and build industryIndustry chain financial innovation service paradigm, actively promote the digital, intelligent and scenario-based development of supply chain finance, help create an open, shared, green, efficient and credible supply chain financial ecosystem, and truly solve the practical pain points of many parties in supply chain financial services. , Improve the stability and competitiveness of the industrial chain and supply chain.
The author is the CEO of Qulian Technology
5. Is the total number of Bitcoins 21 million? Why?
The total number of Bitcoins is limited, 21 million, but smart Human beings have invented a method, which is to divide one piece into small parts. We know that one yuan of RMB is composed of ten dimes, one hundred cents, and one thousand cents...and any of them, whether it is a cent, a dime, or a circle, can be divided again infinitely. The limited total amount of Bitcoin can also be divided infinitely in this way, endlessly, just like you use a kitchen knife to cut sausages, and you will not cut into the smallest unit until the day you die. Therefore, the limited amount of Bitcoin is actually an infinite and huge black hole, which can accommodate the entire universe if it is thrown into it. So my point is, Bitcoin equals a black hole.
Talk in the vernacular and get useful information!
Bitcoin is a genius idea, a distributed ledger system.
Solve a math problem, do an accounting, and calculate the sum of a geometric sequence.
Source of Bitcoin value, security, consensus, assets, technology
Keywords: accounting, equation, convergence, consensus, technology
First, Bitcoin white paper, genius idea.
11 years ago, a person with the pseudonym Satoshi Nakamoto published a paper called the Bitcoin White Paper, which detailed a genius idea. I often say that it is human thought that leads the world. .
Things that people thought were illusory and nonsense in the past often turned out to be very far-sighted later. That's what happens with Bitcoin.
In the past, our accounting was often centralized, and there was always one person who was in charge of you. There is a finance department in the company and an accountant. Every account you transfer must be recorded by the accountant.
There is always a bookkeeping center in the bank. There is a system. How many accounts are transferred every day, and finally they have to reconcile the accounts and find a solution.
Let me give you an example. The earliest trust was born during the Crusades. At that time, many people were going out to fight. They went out with their lives, not knowing whether they would come back alive, so they put their The property is left to a group of people to take care of. This group of people will manage your property for you, and when there is profit, they will take a small share of it.
It’s like saying that your family has 100 sheep. You want to leave, but your son is still there, and you can’t herd the sheep anymore. So you give these sheep to some professional shepherds. When the sheep give birth to lambs, they You can also get a share from it.
But there is a problem, who will superviseWhat about supervision? How do you know that he is letting you take care of your sheep with peace of mind? Or if he gives you your sheep, what will you do?
This requires a set of accounting rules, that is, our entire audit system now uses a set of debit and credit methods. Double-entry accounting is used to ensure that he does not have too many mini-obsession. Of course, financial accounting can also be falsified. This is equivalent to 100 sheep. He can narrow down a little, only 5 sheep, but don't squint at 95 sheep, that is not very interesting.
However, there are always problems with this kind of centralized accounting. He knows that you don’t know, and there is information asymmetry. Some people have all the information, but not everyone has the information, which is very troublesome.
Satoshi Nakamoto envisioned a distributed accounting. Everyone can keep accounts. Everyone keeps accounts in a network and uses modern information technology to keep accounts. Very good solution to this problem.
Once the account is recorded, I will announce it to the entire network. Everyone knows, and everyone has confirmed my information, a new person will keep the account, and then publish the full account. Chain after chain, this is the so-called blockchain.
This idea is a good way to solve the problem of someone losing your sheep, because everyone knows it. It also prevents someone from cheating. Once you cheat, the person who keeps accounts next time will not be able to keep up with this time. Moreover, your matter was done in broad daylight, and everyone will think that you made a mistake in remembering it, or that you deliberately falsified it, so you will lose your credibility and you will not be qualified to keep accounts next time. That's probably the idea.
Of course, this involves cryptography, consensus mechanism, Poisson distribution, etc. Many people criticize where the value of Bitcoin comes from? Bitcoin does not have government endorsement. I still say the same thing. If you believe in advanced mathematics, you believe in Newton, and you believe in Einstein, it is not because they have government endorsement. But because of their superb skills. The real source of Bitcoin’s value is actually technology.
Second, what is Bitcoin? Just keep an account and do a math problem. The sum of geometric series
So what exactly is Bitcoin? Why can its total number be framed at 21 million, and why can it be calculated?
Let me briefly introduce that Bitcoin is a reward mechanism. It roughly means that when you are qualified to keep accounts, you should write down the accounts. After writing them down, package your accounts and remember them correctly, so you can get a reward.
The rules of Bitcoin are like this. When a person has the right to record all transaction accounts that occur within these ten minutes, for example, Zhang San gave Li 40 Bitcoins, and Li Zi gave Wang 50. Bitcoin, then you record them all. Then package it. You will be able to get Bitcoin rewards, for example, 40 for 20.
So who is qualified to record? This requires a screeningThe method is computing power. What's the meaning? If you want to be qualified for accounting, you must first calculate a mathematical equation and solve a mathematical problem. This equation is called the hash equation. To simply understand, this equation can be calculated forward, but cannot be calculated inversely. You know that x can be used to calculate y, but you know that y cannot be used to calculate x.
What to do? Then you only have to bring in the numbers one by one and try them out. If you try them correctly, you will figure it out. The way of doing this is to keep repeating the operation, just like digging with a shovel and a shovel. This is mining. It means that it is a metaphor. It means that you try numbers one by one, but it does not mean that you really dig there.
At the same time, the rules of Bitcoin stipulate that the Bitcoin reward received by everyone for accounting is halved every four years. In other words, you can get ten for the first time, but after four years you can only get five, and after four years you can only get 2.5.
Over time, if you count this total, the total number of Bitcoins will become the sum of a convergent geometric sequence. That means you can calculate its total through a mathematical formula. If you follow the established rules, the total number is 21 million. Of course, it can be further subdivided to the decimal point, which seems to be eight digits. This limits his total number.
Third, the source of value of Bitcoin.
Finally, let’s talk about the source of Bitcoin’s value. I have said before that the real value of Bitcoin comes from technology, mathematics, cryptography, genius ideas, and its security.
Let’s talk about security first. I have introduced the operating mechanism of Bitcoin before. When you keep accounts, you need to announce it to the entire network. Then once everyone on the entire network receives your information, it is equivalent to You were running around naked in front of everyone, and everyone could clearly see what was on you. If you wanted to do something bad, it would be almost impossible.
At the same time, Bitcoin has been attacked many times, but it has still not been defeated. It is still very safe and its data cannot be tampered with. If he is proven safe time and time again, he will gain more and more credibility.
So why is Bitcoin becoming more and more valuable? Was it no longer valuable before? Can its price increase by more than 10 million times or 20 million times? The reason is that more and more people believe in him, more and more people like him, and more and more people recognize him. If everyone recognizes Bitcoin, everyone believes that Bitcoin is important, Bitcoin is reasonable, and Bitcoin is safe, then this consensus will become a belief. When something becomes a belief, its value is self-evident.
Finally, Bitcoin has the characteristics of an asset, and strictly speaking it should be counted as an intangible asset. The characteristic of this intangible asset is that it basically does not depreciate. If you think about it, he was originally an illusory thing, a virtual thing. He left it for a year and followed it.It's exactly the same for ten years, it only exists in people's minds.
I have introduced the characteristics of assets many times before. Assets can be stored for a long time. They are durable goods, so people buy them to earn higher returns. Buying them tomorrow is better than buying them today. It’s more expensive. It’s more expensive to buy it the day after tomorrow than it is tomorrow. It’s getting higher and higher. That’s how assets are. The more expensive they are, the more they want to buy them. As long as it continues to rise and people form common expectations, it is valuable.
Conclusion. Starting from the Bitcoin white paper, a person with the pseudonym Satoshi Nakamoto had a genius idea to change centralized accounting to distributed accounting. This accounting method is not easy to be tampered with or falsified. It's a genius idea.
The rules of Bitcoin stipulate that everyone reaches a consensus, calculates a hash equation within a period of time, and obtains the right to package and bookkeeping. At the same time, the accounts within ten minutes are announced to the entire network. As time goes by, the Bitcoin reward is continuously halved. The total number of Bitcoins becomes the sum of a geometric sequence. As it continues to converge, the total number is certain.
The source of Bitcoin’s value is actually technology, actually security, actually the consensus mechanism, and actually the characteristics of the asset. Many valuable things in history are actually illusory. What really affects the progress of mankind is actually human thoughts.
The total number of Bitcoins is 21 million. Yes, this is limited at the beginning of writing the source code. You can refer to the Bitcoin white paper. It is clearly written in it that this 1 Bitcoin is obtained through mining, but it is emphasized that the total number of Bitcoins is 21 million, but this 1 Bitcoin can be subdivided.
In other words, 1 Bitcoin can be subdivided into very small pieces. How small?
The smallest unit of Bitcoin is now 1 Satoshi, and 1 Bitcoin is equal to 100 million Satoshi.
As for where this Cong came from? It is named after the inventor of Bitcoin, Satoshi Nakamoto.
So if you look at the number, the number of Bitcoins that can be obtained through mining is 21 million. That's right!
But if you trade to get Bitcoin to break it down. . . That can be broken down to the point where 1 Bitcoin can be divided into 100 million satoshis! !
The entire operating mechanism of Bitcoin is imitated by physical gold, which is why many people call Bitcoin digital gold. And we know that gold, as an element on the earth, is itself scarce. This has also led to the fact that precious metals such as gold have played the role of currency in the long history of mankind. They are naturally gold and silver. Therefore, the initial number of Bitcoins is also limited, with a total of 21 million.
October 31, 2008, MondayA person signed by Satoshi Nakamoto proposed a 9-page decentralized peer-to-peer transaction idea on the Internet. This idea was later called the Bitcoin white paper. There are clear regulations in the Bitcoin white paper that the upper limit of Bitcoin is 21 million, and it can never be tampered with. This is a cornerstone that supports the current Bitcoin price.
So we can see that the number of Bitcoins is not infinite. The total number has a constant amount of 21 million. The number of Bitcoins currently in circulation has exceeded There are 18 million Bitcoins, but the time when the last Bitcoin will be released will be after 2100, which is also determined by its algorithm mechanism. The number of Bitcoins you understand is infinite and should be its minimum value, but the total number of Bitcoins currently in circulation includes 18 million Bitcoins, including nearly 4 million Bitcoins that have been lost and have been silent in the long history of history. currency.
So if you have time, take a closer look at the white paper published by Satoshi Nakamoto in October 2008. What this 9-page paper brings us is not just bits. Bitcoin also has the ultimate blockchain technology, which is a great gift that Bitcoin brings to the world.
First of all, the total number of Bitcoins is 21 million. This is determined by the generation mechanism of Bitcoin. If the total amount was not limited, Bitcoin would have died long ago.
Some comrades always use the theory that "Bitcoin can be split infinitely" to talk about things. This is a typical failure to understand Bitcoin.
Just like a bottle of mineral water labeled 600ml, you can drink a drop of it in 0.0001ml, drink it thousands of times, or drink it all in one go.
Could it be that because you drank this bottle of water tens of thousands of times, the fact that it has a total volume of 600ml will change? Don’t you understand such a simple truth?
As for the total amount of Bitcoin, in fact, to be precise, the total amount of Bitcoin is 20,999,997,690, which is slightly less than 21 million.
Bitcoin generation plan:
Calculation method of Bitcoin mining
Bitcoin generates one block in 10 minutes, which will be 6 blocks per hour The speed is multiplied by 24 hours (each day), 365 days (one year), and finally 4 years (one cycle). As a result, a total of 210,000 blocks are generated in one cycle. The rewards for all blocks gradually decrease from 50 to 25 and then to 12.5, so there are 50+25+12.5+6.25+3.125. . . =100 rewards, multiplying the two numbers yields 21 million Bitcoins.
In other words, Bitcoin will be completely mined by 2140.
Why is the total amount of Bitcoin only 21 million? Can't there be more?
Let’s talk about why the total number of Bitcoins is 21 million. First of all, the total amount of Bitcoin is designed by Nakamoto. So far, he hasn't made it clear why. So there is a lot of speculation from the outside world. Now I will list to you the following 8 guesses.
One
Guess one: Because 21 is half of the final answer of 42.
Explanation: The answer is a joke. This clue comes from the bridge to the final answer in the movie "Guide to the Galaxy": The final answer to the universe is 42.
Two
Guess two: Because we live in the 21st century.
Commentary: This is a bit far-fetched.
Three
Conjecture 3: The principle set by Nakamoto is to produce a block every 10 minutes and reward 50 coins, which will be halved in 4 years. The results are natural.
Explanation: Nakamoto did not interfere with human intervention, but accepted the natural results.
Four
Conjecture 4: All the gold in the world is melted together. This is a cube with a side length of about 21 meters.
Note: Nakamoto used this concept to describe Bitcoin as a kind of virtual gold.
Why is the total amount of Bitcoin only 21 million? Can't there be more?
Five
Conjecture five: Outsiders think Nakamoto likes to play blackjack.
Explanation: I have no explanation for this answer.
Six
Guess 6: There are 32-bit integers that can store 2^31-1, which is 2147483647. If you take the first 8 digits, it is 21474836.47 Bitcoins. That's 21 million.
Note: I guess Satoshi used 32-bit precision integers in the initial development. Later, he found that the precision was not enough for a global currency, so he expanded the two decimal places to 8 digits and changed the 32-bit storage to 64-bit storage.
Seven
Guess 7: Bitcoin is used to compare the global economic aggregate. According to the current global economic level, the global economic aggregate is estimated to be an upper limit of 21 million.
Note: I think this guess is more scientific.
Eight
Conjecture eight: According to the analysis of Vitalik Buterin, the founder of Ethereum, this value may be related to the integer data range supported by the computer programming language and to special currencies. In comparison, it also facilitates maintenance by subsequent developers.
Note: Bitcoin uses the C++ programming language.
Summary and analysis
The above eight answers are all guesses from outsiders. Because Nakamoto never explained it, we don't have a definite answer. Personally, I agree with V God. So what is the answer in your mind?
The total amount is approximately 21 million, which will be halved every four years. It will be completely mined by about 2140. After that, mining will no longer produce BTC, and the source of income for miners is transfer fees.
These logics are hard-coded in the code.
This is a good question. This question actually asks about the origin of digital currency.
Sovereign governments have the right to issue currency, and central banks of various countries will continue to issue currency. For example, my country issues RMB and the United States issues US dollars. Because there are no restrictions on the issuance of currency by sovereign governments, massive amounts of currency cause inflation, and the money in the hands of residents continues to depreciate.
For example, when I was a kid, steamed buns were four for one yuan, but now they are one yuan each, and in some places they are 2 yuan each. There are numerous examples of rising prices.
Under this situation, the wealth that residents have worked so hard to save is forever shrinking, and people must always be busy. If you accumulate wealth at the age of 30, it will be enough for you to live comfortably for the rest of your life. However, if you cannot maintain the appreciation of wealth, you will find that you will have almost no food left when you are 60 years old, and the same amount of money can no longer buy anything.
To combat this currency devaluation, smart creators created digital currencies that had to be limited in quantity. Bitcoin is the pioneer. There are only 21 million coins and they are not managed by any government.
Digital currency was created for this reason. As for how to ensure that the total number of Bitcoins is only 21 million, this is another question. If you are interested, you can discuss it further.
The development of digital currency is in the ascendant, which reflects the residents' cherishment of their hard-earned wealth. Sovereign governments can "plunder" wealth invisible, promoting the development of new things in digital currency.
People who argue that Bitcoin is infinitely divisible do not understand Bitcoin at all. I don’t recommend you buy Bitcoin, but this truth must be made clear. “Infinitely divisible” and “infinite total amount” are two different things.
Let’s talk about the total amount first, and then why infinite divisibility does not mean the total amount is infinite. The total number of Bitcoins is indeed 21 million. You can understand the number of Bitcoins as a super difficult equation. There are 21 million solutions in total. This is a provable mathematical theorem, so the total amount is certain. Owning a Bitcoin is equivalent to owning a solution. The ownership of this solution is calculated every time After the result is obtained, it is recorded on the Bitcoin chain and cannot be tampered with. Moreover, more Bitcoins cannot be issued.
Then many people say that Bitcoin is not 21 million, because Bitcoin is infinitely divisible, you can have 0.1 Bitcoin, 0.01 Bitcoin, 0.001 Bitcoin, so Bitcoin is unlimited.
It is correct to say that Bitcoin is infinitely divisible, but it is nonsense to say that the total amount of Bitcoin is infinite.
When the total amount is constant, no matter how you continueYou still have as many points as you originally had. If you originally had 10 Bitcoins, then no matter how you divide the remaining 20 million, you will always have 10/21 million Bitcoins. You will not have them just because someone took yours. If 1 Bitcoin is divided into 100 parts, he will have more Bitcoins than you. Similarly, just because you divide these 10 Bitcoins into 1000 points, you will not have more than 10/21000000 Bitcoins.
But traditional currency is different. Suppose the total amount of currency circulating in the market is 10 million, and you own 100,000, then you own 1/100 of the amount of currency.
Assume that your 100,000 yuan does not move, and then the country issues another 10 million yuan of currency, then the amount of currency you have becomes 1/200.
Then when you do nothing, your currency depreciates.
One of the reasons why Bitcoin is touted is that there is no such central bank that can issue currency at will, causing the currency in hand to depreciate.
Of course, the country does not issue coins at will, but compared with having a constant total amount of Bitcoin, the central bank's flexibility in this regard is too great.
In addition, infinite divisibility is just a mathematical game at best. In theory, any currency is infinitely divisible, as long as the country is willing to issue it, 0.001 yuan, 0.0001, 0.00000000001 yuan..., Then any currency is infinitely divisible, but Bitcoin is implemented through program code, which makes it easier to implement.
Do you understand the scam? It’s the same as when the U.S. dollar was called the U.S. dollar. When the value rises, you can cut off the leeks of the world. Our country is still powerful. Bitcoin transactions in China have been banned since then.
6. Is uu Technology 5GK a pyramid scheme?
It depends on what they are engaged in. If it is the kind of person who solicits people and then needs to pay money, it may be a pyramid scheme.
See if they have products, which are real products.
1. Wait for the passing of time.
2. Follow your own path and be the best version of yourself.
3. Wait for a person or a story.
4. Everything that has passed will become a fond memory.
5. Time is still there, but we are flying by.
6. I enjoy the warmth in time, and I forget about the blooming of flowers in the fleeting years.
7. If you haven’t been broken up, you don’t understand love; if you haven’t been frustrated, you don’t understand life.
8. The time when you feel it is too late is precisely the earliest time.
9. No matter how strong a person is, there is always a soft place in his heart that cannot be touched.
10. For color, light is good. If it is dark, it will fade. In life, simple is good. If it is complicated, it will deteriorate.
11. Asking for something but not getting it, giving it up but not being able to give it up, getting something without hesitating it, this is the greatest sorrow of man.
12. I hope there is someone who will accompany me from friendship to love, and then from love to family affection.
13. Those who are neither good nor bad are in the middle, those who are envious are swinging left and right, and those who are jealous are always unhappy.
14. Don’t always evaluate your status in the hearts of others. Living in the eyes of others is equivalent to losing yourself.
15. Drinking wine is good if you are half drunk, but if you drink too much, you will become drunk. Love is still half true. If you love too deeply, your heart will be broken.
16. Life is too short, there is no time for regrets. If it is not the end, please smile and keep moving forward.
17. Never mention it, not because you forget, but because you remember.
18. Have you ever wanted to get to know someone again?
19. Don’t overestimate yourself in two years, and don’t underestimate yourself in ten years.
20. Wherever it exists, it blooms. Don't forget to spread fragrance just because you are sad.
21. Time is changing, and so are people. Some things, no matter how hard we try, we just can't go back.
22. You must live within a framework in order for the incomparable gift of love to mature.
23. When you can’t hold on anymore, you can say to yourself “I’m so tired”, but never admit in your heart that “I can’t do it”!
24. No matter how hesitant and confused I am at this time, I will eventually live the life I want!
