“Get” 11 chain post April bitcoin stock fell 36%, the biggest falls of the year, futures fell 37%

When the morning chain as early as 8 in December 1, 2018.

Early details:

The chain was ChainDD12 1 market, more comprehensive index and trading platform Binance:

BTC bitcoin at $4006.85, down about 1.3% to 12 hours.

ETH Ethernet square at $113.15, down about 0.5% to 12 hours.

BCH ABC at $172.34, up about 1.6% to 12 hours.

BCHSV reported $95.66, down about 2% to 12 hours.

XRP reboxetine currency at $0.36476, up about 1.6% to 12 hours.

Dynamic chain ring:

The Ministry of industry Li Ming: 12 month will be issued a standard block chain group

According to first financial reports, room block chain research Ministry of electronics industry standardization research institute director Li Ming said, 12 will send a block chain group standard: deposit certificate (proof of existence), intelligence and privacy and contracts. The Ministry also said that in the process of promoting the industry standard and combined to do the development and generalization of the standard is the two process.

Switzerland’s oldest university awarded the doctorate V honor God “

University of Basel, Switzerland announced local time on November 30th, the school of business and Economics Institute co-founder, Fang Ethernet V God Vitalik Buterin honorary doctorate, thinks Vitalik has made outstanding achievements in the encryption currency, intelligent contract and mechanism design.

Dean, University of Basel School of business and economics professor Berentsen Aleksander said, Vitalik created the etheric Fang block chain to a certain extent change the pattern of the entire market, then he will change the innovation of science and industry. I Vitalik of management, economics and game theory are of interest, he often visited the school welcome.

Vitalik in the degree granting ceremony, confirmed that he is the oldest university in Switzerland from University of Basel and honored. The Swiss ten years to study the blockchain is famous for its innovative.

Dynamic currency circle:

Bitcoin 11 month fell 36% year, the biggest monthly decline

When the App chain market showed that most of the current exchange bitcoin transaction price is $4000-4100. According to Coinmarketcap statistics, bitcoin November monthly opening price of $6318, which means that bitcoin is about 36% decline in November, the biggest monthly decline this year.

When App chain editor noticed, compared with December last year to a record high of $20 thousand at the beginning of November, bitcoin has fallen by nearly 70%, the whole month fell again means that bitcoin further into a bear market.

However, Coinmarketcap statistics show that trading volume than the 11 month bitcoin increased 33%, increased to $158 billion 480 million this year, 5 months monthly high.

Bitcoin futures even break Yindie $4000, 11 month fell 37%

The United States in November 30th, two American exchange bitcoin futures contract fell below $4000, fell two consecutive days, as of 26 Japan on Monday to close for two consecutive days of record lows, tired and fell about 6% last week, fell for five weeks, tired and fell about 37% in November.

The world’s largest futures exchange, the United States Chicago Institute (CME) bitcoin BTC futures January contract fell about 5.87%, to close at $3930, down 29, about 2.57%, to close at $4175, this week was down more than 5.87 in November, down about 37.07%.

The largest U.S. options exchange bitcoin Cboe futures XBT 1 month contract fell about 3.91%, closing at $3935, 29 fell about 3.42%, closing at $4095 this week, tired and fell to about 6.09%, 11 months fell more than 37.09%.

The chairman of the Commission: Investment encryption currency must take into account the lack of security first

Columnist Andrew Ross Sorkin told the New York Times interview the day before, the U.S. Securities and Exchange Commission (SEC) chairman Jay Clayton reiterated caution about encryption market.

Clayton said, SEC has been trying to educate investors, let them know in an unpredictable emerging market what risks exist, encryption money market is still in the forming of supervision. SEC tried to explain that, although the transaction currency looks the same as encryption for trading on the NASDAQ or the NYSE, but encryption market does not have the same safeguards with these markets. SEC has been trying to stop the traditional market manipulation efforts for 70 years.

Clayton also acknowledged that SEC is limited in offshore token sales, and stressed that he tried to show that if investors in the overseas purchase of digital assets out of the question, SEC to solve practical problems almost incapable of action.

VanEck etc. bitcoin ETF application direction of the United States Commission latest demonstration

Including VanEck, SolidX and Cboe, the largest U.S. options exchange, three companies jointly apply for a bitcoin ETF listed this week to the U.S. Securities and Exchange Commission (SEC), the Ministry of finance business and marketing, economic and risk analysis department and the office of legal counsel made the latest demonstration, bitcoin market has been trying to prove the ETF transaction preparation.

CoinDesk reported that, unlike previous demonstration, the demonstration of the three institutions is more focused on the regulation, mainly around the bitcoin market is mature enough, can support ETF, ETF and other owned asset market, give a lot of existing ETF assets, including crude oil, gold and silver.

Special presentations to contact, for gold and silver money substitutes, futures market and spot market linkages can be proved by empirical evidence and pointed out that this kind of price cointegration “is a good evidence for the operation of the capital market”.

Three agencies said, similar to bitcoin commodity futures, spot and futures prices are closely linked, once again provides a well functioning capital market evidence”. On the other hand, they think that other commodities have been compared in support of ETF, bitcoin ecosystem “is less susceptible to manipulation”.

When App news chain mentioned, VanEck SolidX Bitcoin Trust is widely regarded as the most likely approved bitcoin ETF. In September this year, SEC launched the approval process, postponed until February next year before making a final decision.

Belarus high tech Park released their “complete encryption monetary regulation law”

Belarus high tech Park (HTP) November 30th released documents show that the promotion of IT industry development of the national economic zone the development of operation regulations of the country of encryption currency market.

HTP has issued five documents, respectively “the request”, “encryption platform operators”, “encryption currency exchange operator requirements”, “ICO operator requirements” and “internal control rules”.

Local media reported that Dev.by, at present these rules have been accepted, they constitute the “Belarus currency supervision method complete encryption”. HTP encryption currency internal staff has been a full range of legal supervision of Party support. HTP management and the Central Bank of Belarus, the State Control Committee of the financial supervision department, international experts and other institutions to prepare the necessary documents, and has signed the document.

4 million data for 2000 bitcoin, a number of inter agency data were sold online dark gold

According to China business reported in the dark online more than a hacker said the master of multi agency data, including the borrower data openly selling Henan Zhongyuan consumer financial Limited by Share Ltd, pat loans, loans and many other pleasant Internet financial platform. One is known as the Central Plains master trading post consumer finance “400 million live data”, “the price of 2000 BTC, 10 after 0.001BTC, open price away”.

The consumer finance says it has carried out self-examination, and invited the top three domestic security agency experts investigation, did not find the hackers, and the company does not have such a large number of users. Pleasant credit is also called internal repeated investigation, recently found no information leakage caused by the attack. Pat on the loan, the survey data leakage does not exist.

The company has financial engineers said, data leakage has two sources: one is from the technical background database is derived, one is derived from the front of business personnel. The most common on the market is the customer information reselling business personnel.

Intel’s new patent application, let bitcoin mining energy consumption is reduced by 15%

The United States Patent and Trademark Office (USPTO) a document published in November 27th showed that U.S. technology giant Intel (Intel) filed a new patent for “high performance bitcoin energy efficient mining”.

According to reports, this patent Intel is a hardware accelerator, using the optimized data path to achieve SHA-256 hash, aimed at reducing 15% bitcoin mining energy (BTC).

Bitcoin futures fell below the 37% month 11 finally closed at $4000 whole digital psychological barrier

[bitcoin futures in November fell over 37% eventually closed below $4000] the whole digital psychological barrier in December 1st hearing, CME BTC bitcoin futures January contract fell $245 or about 5.9%, to $3930 in November 26th to $3605 a month contract closing record for the lowest, according to statistics, this week, tired tired and fell down about 5.87%, November about 37.07%. CBOE bitcoin XBT futures January contract fell $160 or over 5.9%, to $3935 in November 26th to $3647.50 a month contract closed at record lows this week, tired and fell to about 6.09%, in November fell more than 37.09%.

400 offer 2000 million data bitcoin institutions were sold online data dark

Author Zheng Yu He Shasha

With the advent of big data era of information security challenges. The day before, “Chinese business newspaper” reporter noted in the dark online more than a hacker said the master of multi agency data, including open outcry Henan Zhongyuan consumer finance Limited by Share Ltd (hereinafter referred to as the “China consumer finance”), the borrower data pat loans, loans and many other pleasant Internet Financial platform.

According to the dark online one of the seller, the data including telephone number, identity card is the opposite, contact telephone, part containing consumer goods vouchers, and the corresponding to the borrower by reading the mail list of contact information. Even said “give the company database permissions, send in collection company, all the collection of records.”

“Chinese business daily” reporters try to contact the suspected data being sold on the list, the other are not unusual. Then the data authenticity? Leak source?

Information security has become the hardest hit

The dark net market hangs one called “Henan Zhongyuan consumer finance licensed 400W fresh data, the server continues to update the trading post, which refers to” the Central Plains to the nearest consumer finance founded M1, M2 and M3, two years a total of about 4000000 loan information, including telephone, ID, positive and negative contact telephone “and” the current price of 2000BTC (as of November 29th bitcoin prices equivalent to 58 million 430 thousand yuan), after 10 0.001BTC (equivalent to 29.21 yuan) open price away, turned to the domestic network security company “fishing” database has been taken to a foreign server, after the payment to the link to download the server in the third world. Never be sealed.”

This reporter contacted the consumer finance, the other said early in the 10 days ago, companies in information security routine inspection, the first time that this information, when the company attaches great importance to take for the network system, database server, including the relevant personnel of self-examination, found no abnormalities; also communicate with the report and the Zhengzhou Municipal Public Security Bureau supervisor detachment, I would like to use them to professional and technical support of mining clues, also found no suspicious clues, and invited the top three domestic information security agency, experts drawn on the investigation over the network security, not from the technical analysis found traces of hacking, data acquisition.

“A small number of online information is not dark 4 million, at present, no such a large amount of users, the CBRC has just to carry out routine inspection.” The consumer finance said.

But in the 10 months of this year, the consumer finance general manager Zhou Wenlong told the local media company, the number of registered users exceeded 700 million people, the real name of the user has reached 500 million, more than 190 million customers to provide consumer loan services. The reporter opens the Central Plains consumer finance APP also saw the need to fill in the information for the registered mobile phone number, if you need to use the function to identity card is the opposite of the real name information.

The data content selling information and pleasant loans provided by retailers, including contacts, monthly income, payroll forms, mobile phone, working time, contact address, loan amount and other information, and gives some detailed information. The reporter called the number of the data in the parties, they said the personal information is true, but not in the pleasant credit on borrowed money.

One of the parties said, “when I invested in some P2P products also left the address on my address and phone number, monthly income, working time is right.”

The list of data in a man told reporters: “you say the information is right, this is my address on the ID card, for information leakage reasons I have no clue, the information was leaked this matter I am helpless.”

It is worth noting that this page shows 1 million personal privacy information is true, the source data has yet to be verified by 14.74 $5 being sold out.

In this regard, pleasant loans believe there might be two conditions: one is the online public information, our data have been collected by the sale; two other platform is user data leakage, people sold on behalf of pleasant credit user data, due to the presence of the same borrower generally will register more than one platform, these if the data to match the other net loan platform, will also have certain hits, this is not to lead or reasoning pleasant credit data. The report recommended for selling information data, public acceptance, pleasant credit security department will cooperate with the police investigation and evidence collection.

The possibility of leakage of many

So these or “stateless” data sources, what are the odds?

Financial engineers told reporters analyzed, data leakage originated from both a technical database derived from the background, one is derived from the front of business personnel. The disclosure of data level database technology, may be the company technical personnel illegal copy of the data in the database, if there are technical personnel from the production of a copy library company, that security management is not in place; at the same time there may be hacked off the library cause. If there is data leakage, generally speaking, the system will have information security measures, is caused by hacker attacks are not common, but hackers cause the entire database data leakage effect and the result is usually more serious. “The most common market is the business personnel of the customer information disclosure of personal information, export customers, reselling.” The engineers added.

At the same time, pleasant loans also said that the disclosure of the data may have hundreds of different ways, for the existence of “black industry”, exists in the offline channels leaked “temporarily unable to answer. At present, the security department and pleasant credit loan business department repeated investigation and verification, the platform has not found “information leak caused by network attacks”.

At the same time, pat loans also said that after careful investigation, pat the loan does not exist the problem of user data leakage. There are many reasons for data leakage may occur, such as internal staff leaked, external hacker attacks, illegal operations led by individual employees for information disclosure, pat the loan will also take legal means to deal with serious.

UBS: encryption currency is coming to an end I come to bury bitcoin

Beijing time on December 1st, UBS Global Asset Management (UBS Gobal Wealth Management) chief economist said that the encryption currency is coming to an end, it is time to abandon the digital currency.

UBS analyst Paul – Donovan (Paul Donovan) has never been encrypted currency fans, he wrote earlier this week: “I come to bury bitcoin, not to praise it.”

He said Thursday, “these things will never be the money. At any time in the future, they will become money. They have a fatal flaw.”

Bitcoin 2017 years in the holiday season by many people’s favorite, when it began to rebound to nearly 2 million. But Donovan was skeptical, warned that in the long run, this may be “disruptive”.

He said in an interview: “at the beginning, from the end of last year to raise interest rates for some obviously, not subject to any regulatory protection, who was involved in the process of raising interest rates, it will be a bad ending.”

Bitcoin after reaching the peak, the current transaction price fell to $4330. In general, since the January highs, crypto currency market has lost about $700 billion.

Donovan believes that the crypto currency may be in the “, because of the loss of 80% give dying kicks” value “is not healthy”. He said that the government is bitcoin “one of the main obstacles,” he added, with the digital currency to replace the dollar idea “is quite a leap”.

He said: “these things are the main problems: fundamental flaws absolutely — is that they will never become a store of value. Every economist knows, store value is about the balance of supply and demand, and the use of encryption currency, you cannot control the supply demand.”

From Sina Technology

Human greed, ensanguined bitcoin

At the end of 2017 years, bitcoin is still $20 thousand high of 10 bitcoins overlooking the world, can buy a Mercedes Benz S500 car, 100 bitcoin can buy Sanju room in Shenzhen. But since the highs, bitcoin price is plummeting, stumble endlessly, at present to 4 thousand dollars accessories, price has shrunk 80%. Once everywhere can mining, worthless currency scene, instantly become as trassient as a fleeting cloud. “Blockchain three bloody words more and more like the pronoun” speculators “or even” fraud “.

In the 2009 year, $1 will be able to exchange the 1309 coins, all asset bubbles in history. In front of bitcoin. A few years ago are now more than the bitcoin, are miserable. During this period of bitcoin soared during the 16 to 17 years, the national mining era, then bitcoin soared, driven by the mining industry, also triggered a bunch of copycat coins prevailed. At that time the popular: go to Inner Mongolia in winter, summer to Sichuan. However, the final result, bitcoin does not create wealth, but the wealth transfer. This coin circle, burst out from time to time billionaires, the rate of accumulation of wealth, than the real bank, what are the clouds.

Bitcoin price roller coaster, sent the foam on your face. And Holland small people identical 400 years ago, people’s bitcoin lever stud, 90% are in the 95% block of follow the trend of speculation, probably even the meaning of the chain can not see. It’s all because of greed. In the coin circle, from time to time because of the bankruptcy Dutch act but no one jumping, pay close attention to this information, we pay more attention to the wealth effect of businesses.

Speculation is not recommended, but this does not mean that can not touch the bubble, the prices of goods can not be unlimited expansion, bubble always dashed when the sky will not fall. Stop the biggest enemy of human further run in the explosion of technology on the road, is the man himself. Greed can make mass madness. Mad people, will eventually lose reason.

Bitcoin futures even break Yindie $4000, 11 month fell 37%

When the chain (micro signal: ChainDD 12) April 1 news, 11 U.S. time September 30, both the American Stock Exchange bitcoin futures contract fell below $4000, the second consecutive day fell, as of 26 Japan Week consecutive days received a record low last week, tired and fell to about 6%, or even 5 weeks, 11 tired and fell to about 37% months.

The world’s largest futures exchange, the United States Chicago Institute (CME) bitcoin BTC futures January contract fell about 5.87%, to close at $3930, down 29, about 2.57%, to close at $4175, this week was down more than 5.87 in November, down about 37.07%.

The largest U.S. options exchange bitcoin Cboe futures XBT 1 month contract fell about 3.91%, closing at $3935, 29 fell about 3.42%, closing at $4095 this week, tired and fell to about 6.09%, 11 months fell more than 37.09.

When the App display market chain, such as currency exchange bitcoin on most USDT spot price around $4000, 24 hours of tired and fell nearly 7%.

VanEck etc. bitcoin ETF application direction of the United States Commission latest demonstration

When the chain (micro signal: ChainDD) December 1st hearing, including VanEck, SolidX and Cboe, the largest U.S. options exchange, three companies jointly apply for a bitcoin ETF listed this week to the U.S. Securities and Exchange Commission (SEC), the Ministry of finance business and marketing, economic and risk analysis and Legal Consultant Office the latest demonstration, trying to prove that the bitcoin market has made ETF transaction preparation.

CoinDesk reported that, unlike previous demonstration, the demonstration of the three institutions is more focused on the regulation, mainly around the bitcoin market is mature enough, can support ETF, ETF and other owned asset market, give a lot of existing ETF assets, including crude oil, gold and silver.

Special presentations to contact, for gold and silver money substitutes, futures market and spot market linkages can be proved by empirical evidence and pointed out that this kind of price cointegration “is a good evidence for the operation of the capital market”.

Three agencies said, similar to bitcoin commodity futures, spot and futures prices are closely linked, once again provides a well functioning capital market evidence”. On the other hand, they think that other commodities have been compared in support of ETF, bitcoin ecosystem “is less susceptible to manipulation”.

When App news chain mentioned, VanEck SolidX Bitcoin Trust is widely regarded as the most likely approved bitcoin ETF. In September this year, SEC launched the approval process, postponed until February next year before making a final decision.

Some analysts said: bitcoin will more than Amazon’s $880 billion in the next ten years the market value

Until now, bitcoin prices remain above $4000, people began to talk about the impact on the Amazon stock bitcoin in recent years.

Bitcoin has dropped to around $3500 low, this is more than a year has never seen. Until yesterday, bitcoin successfully rebounded to $4000, had reached a high of $4339, then fell to near $4190.

Some analysts said the massive sell-off in May to mid, bitcoin investors said in the media, less than $5000 bitcoin prices continue for at least three months.

At the same time, with the bitcoin / $4241.42 -0.64% $4500 seems imminent, other supporters stressed that despite the volatility, bitcoin is still as investment advantage.

In a Twitter data, a commentator pointed out that bitcoin is reflected in 5 years more than Amazon’s stock in the past 7 years.

He predicted that bitcoin will in the next ten years more than Amazon’s $880 billion market capitalization, bitcoin current market capitalization of $73 billion, its own in just two days rose $7 billion.

In addition to the encryption currency, including Amazon, technology stocks and FAANG stocks began to rebound this week Bitcoin, the recent turmoil also appeared in a similar reaction.

Jonathan Golub strategist Credit Suisse in predicting the price of bitcoin said that these stocks are back on track, but this is not before the bull market.

He said in an interview with the CNBC: “in the near future, I think the technology industry will appear very strong rebound.”

At the same time, BlackTower Capital partner Michael Bucella said in a report Wednesday, bitcoin / USD may not have finished the dilemma of “cycle”, and may fall 50%.

He said: I think this opportunity is very slim, if you continue to accumulate, our current level will be a good long-term point.

Intel’s new patent can improve the efficiency of bitcoin mining

At present, a large number of mining enterprises are encrypted currency collapse, mainly because of the high energy prices and rising mining difficulty, which exacerbated the unprofitable, mining cannot return. but Intel believes it can resist the high energy consumption by the new patent. The chipmaker’s success this week to apply for a patent processor, the processor that provides high performance bitcoin mining energy saving way.

The processor is designed for mining SHA-256 algorithm to construct encryption based on money, such as bitcoin. In order to make the processor more energy-efficient than the existing system, Intel seems to have developed than the standard integrated circuit (ASIC) chip further mining machine. At present some bitcoin mining process requires only a specific transaction data processing. At present, ASIC machine, such as Antminers, in many stages of processing these data. According to Intel, which makes the process efficiency is too low

The patent plan will be part of this mining process is hard wired to a part of the processor, to reduce the required verification and transaction time block mining, energy and redundant process. In fact, energy consumption and cost are the major challenges facing the current encryption currency miners. In earlier this month, the Japanese Internet giant GMO announced its mining business losses of $550 million in the third quarter of this year.

But if the encryption currency markets continue to advance along the path, then the patent actually no profitable place.

Director of the Institute of China ICT Institute of cloud computing and big data research Wei Kai: block chain actually let us in the digital economy, reduce the cost of building trust

 Director of the Institute of China ICT Institute of cloud computing and big data research Wei Kai: block chain actually let us in the digital economy, reduce the cost of building trust

In November 28th, the daily planet by Odaily combined with 36kr’s 2018 P.O.D New BlockTrend potential new blockchain summit held in Beijing.

The meeting, director of the Institute of China ICT, cloud computing and big data block chain plans to promote the research on trusted Secretary Wei Kai was to build a credible blockchain ecological “theme of the speech. He talked about the block chain advantage and needed to face the reality, and analyzes the block chain technology how to reduce effectively the cost of trust.

He talked about how to build a trusted chain block, transparency advocates four aspects: mathematics, engineering, management and application.

The following is the speech of Wei kai:

Thank you for inviting the daily planet, just the founder of the beginning word is indeed full of positive energy, in the past, when the autumn winter is very cold, to bring warmth. The first half of the year or since last year, the development of the industry too fast, in violation of the law of the development of technology evolution. Calm, pragmatic, and our values with the daily planet highly consistent.

My topic is “building block” credible ecological chain. Why block chain practitioners in the industry to join the stampede in? It is entrusted with a lot of people’s ideal, to block chain allows us to establish the cost of trust in the digital economy is greatly reduced, not only depends on the center of the organization, can also put great trust for us to mathematics and system. This ideal, supported by what? I am from four aspects.

The first block chain changed the way of accounting. For every company to double entry bookkeeping all remember all of the accounts, is a single point of entry. Block chain multiple units multiple accounts in a big books. Because without reconciliation, clearing these things in a book, namely accounting balance.

Second, the role of accounting has also had the very big change. The center of traditional institutions authorized accounting is not legal, is assigned, now who is qualified to do accounting, is by the algorithm to determine.

Third, the data from the operational point of view, the previous books characteristic can crud and block chain can only be added, not just to overthrow the existing history.

Fourth, in the contract before the contract, information flow and capital flow are separated, and now can do information flow and capital flow, greatly reduce transaction costs. It is because of the above four characteristics, let us have confidence in the block chain.

The development of the Internet before 40 years, has made great achievements, to share information instantly spread to every corner of the world. However, the internet transfer value and trust, it is difficult to. Because the value of information and have a very big difference. We have such a trust chain block machine, so that when we arrived, the digital economy builds trust, trust and value transfer on the Internet becomes much easier.

 Director of the Institute of China ICT Institute of cloud computing and big data research Wei Kai: block chain actually let us in the digital economy, reduce the cost of building trust

Now, we can see now like landing case of trade finance and supply chain, electronic evidence, invoices, and other aspects of the product traceability has been a lot, the future will also have a growing number of cases emerged, it is worth looking forward to.

However, the development of the blockchain, but also down-to-earth, face reality. First, block chain is not a ready-made panacea, the use cost is very high, use it carefully to identify, to play the blockchain irreplaceable advantages. Second, block chain itself is worthy of trust, we trust the trust to the machine, to the algorithm, but whether this system itself is worth believing, also need to keep their eyes open. The three problem, chain and chain to anchor? We want to put the digital world and the real world together, this is very difficult. We do business in the digital world, the data is on the chain chain. And when we should linked with the real economy, half in the physical world, half in the digital world. The blockchain itself has no way to do this, but also a lot of external mechanism to guarantee, including the center of traditional authentication mechanism, as well as government supervision and so on.

In section four, how to effectively block chain governance? The chain is facing governance from the beginning of the quagmire, may go to the center of the ideal line. Chain alliance also involves a lot of multi subject participation, how to reach consistent rules, in fact governance is a big problem.

Fifth, block chain to the existing world rules fit? At present, in various countries on how to regulate the blockchain not reach consensus, regulation is not clear, the enterprise is a very troublesome thing. At the same time, the personal information protection and sharing the blockchain contradictions and conflicts between the books is still fermenting and can not be deleted and other characteristics, etc.. The blockchain ideal is full, but face the reality, but also a solid step to solve the problem, go forward.

 Director of the Institute of China ICT Institute of cloud computing and big data research Wei Kai: block chain actually let us in the digital economy, reduce the cost of building trust

In order to promote the rational and healthy development of the whole industry, we advocate “because so transparent, credible” principle. Here the credible, contains four levels: mathematics, engineering management, credible credible credible and trusted application. Only the interlocking trust mechanism, in order to dispel all doubts.

We are actively promoting the development of the industry self-regulation. We advocate you true and complete disclosure of information, and carry out the test, the future will be to promote the online monitoring and open source code. Through these measures, to guide the entire industry to enhance transparency and also social from all walks of life to block chain technology more confidence, more and more doers can devote themselves to the cause of.

In order to do this thing, we in April this year launched a credible blockchain propulsion program sponsored by the time of 159 units, now has nearly 300 members. All the enterprises to actively respond to the head. We focus on the concept of trusted block chain, focus on promoting the three things: one is the development of technical standards, make more and more solid block chain technology. The second is to organize the study together industry pain points difficult to build trust chain. The third thing is to carry out the research on the blockchain policy and regulatory aspects, to provide policy recommendations for government departments, play a bridge between industry and regulatory.

 Director of the Institute of China ICT Institute of cloud computing and big data research Wei Kai: block chain actually let us in the digital economy, reduce the cost of building trust

In June this year to September, in accordance with our trusted blockchain concepts and standards, organization of the first batch of trusted chain block test. 40 registration, finally 20 company’s products passed the test. In the aspect of function, we determine the number of required 40 test items, these can be considered a qualified block chain. Based on this, we have more than 50 options for the test.

The function test, we also organized the world’s first performance test for the commercial block chain products. The performance test results about the highest 50000TPS, the middle is about 3000TPS. In order to facilitate the users and the blockchain technology provider for their own testing, we also open the benchmark testing tool, TrustedBench, also welcomed the block chain company involved in the development and maintenance of testing tools.

China is still deeply involved in international blockchain ICT Institute standards. I am in the International Telecommunication Union – United Nations agencies (ITU) distributed books under the standard focus group vice chairman, our team and domestic enterprises together, actively participate in the formulation of international standards, LED structure, evaluation of the ITU-T proposal, to contribute to the international standard China wisdom.