Waterfalls are strong solution, guess can’t do anything; peach from Azolla, a hash to offset into the dense; little, the different things; the world in digital signature go by like the wind dance. This is He Jifeng Chinese Academy of Sciences in 2018, Chinese block chain technology and Industry Development Forum third annual block chain development conference, borrow Bai Shuo’s poems bring the blockchain Chinese solution. Indeed, the blockchain encrypted digital currency development, from scratch, the first block chain system launched in 2009, has gone through ten years of time. The 2018 is called a block chain application is also the first year, the year of the bear market of digital currency tumbled. This year, the currency market encryption is unsatisfactory, but the exploration and application of the project chain, but increasingly strong.
Block chain applications currently include: digital money transfer, payment, payment and settlement of cross-border lending;; the central bank issued a digital currency; the issuance and trading of securities or financial trade; supply chain; anti money laundering and understanding customer 6 scenarios. The core is along the time axis to record data and contract, and not only read and write, modify and delete.
The Internet transmission of all data assets, as everyone knows, bitcoin from block chain technology, is a digital currency to the center, with block chain technology, a variety of production chain and chain alliance public. The public is to trust chain mechanism, alliance chain is the trust mechanism, so the money center, branch block chain and coinless block chain. A currency block chain is token as a motivational tool, no money is legal tender as a motivational tool chain block. While the token incentive mechanism makes all stakeholders incentive mechanism can do more than the center of the incentive compatibility, this is the biggest contribution to the block chain incentive mechanism innovation.
However, the God of medicine is not a panacea chain block. Understanding of the blockchain exist mistakes include: to the center of the essence, block chain is the distributed database, the block chain must low efficiency, no coins, block chain block chain can not open, open and transparent to the protection of privacy, is the carrier of the business chain block move, block chain from simple quantum computing. Block, chain industry can produce unicorn, block chain is all accounting.
Similarly, only when the block chain application and encryption of digital money bring real economic benefits for the user, encryption can play a role in the persistence of assets in long-term evolution. Emergence of block chain technology is designed to reduce the network cost and verification, including censorship, privacy, reconciliation and settlement costs, and the cost of start-up and maintenance of the network. To do this, we must face enormous challenges technically and commercially. Including scalability, efficiency, privacy, security, interoperability and governance, industry reform and regulations must also maintain the market order, especially for the encryption and ICO regulatory asset transactions. According to the Blockchain report, 25 encryption currency exchange in CoinMarketCap, 87% of the trading volume is fake, most of the exchange in the Cayman Islands and Gibraltar and other places, the lack of corresponding supervision regulations. The long run, the market is only encrypted into long-term regulatory policy framework in order to obtain public trust and exert its potential. Again, Filecoin raised $250 million in October 2017, but until the middle of 2019 until the beginning of the line. According to a recent EY research report said that as of the third quarter of 2018, the 2017 top ICO in 86% of the transaction price is lower than the market price, only 13% real products in operation. A lot of research and academic market indicate ICO market is flooded with fraud and fraud.
At the same time, has 20 years experience in finance of the Chartered Financial Analyst Thomas Lee, a bitcoin prices said: 2018, bitcoin overall very difficult, $15000 for bitcoin is still a fair price, which means that bitcoin mining in the breakeven point is two times more than the transaction, and history on average, the price of bitcoin is almost two times the breakeven point of mining. At present, crypto currency wallet number 50 million, if when the number reached 5 billion, the real opportunity is the encryption of currency, then wait for 10 years. If in 2009 the first block chain line to 2019 for a period of ten years, ten years is a period of ten years after the opening, so it should be a period of development. Review of money market is also applicable to encryption, can be divided into short-term and long-term.
Admittedly, some of the problems faced by the crypto currency industry now, whether it is to determine the price and value of the exchange links, low efficiency, scalability problems, will with the passage of time and need to solve. Although in a bear market but the blockchain remains popular, encryption of monetary market value is still facing various tests in future, only when the tide back, to see more.