Gu Yanxi: Facebook should do the ST exchange, rather than a stable currency

Editor’s note: This article from the currency, the author: Gu Yanxi, Huatai Securities served as deputy director of information technology and several Financial Services Company COO, authorized reprint by Odaily daily planet.

The future of the encrypted digital asset is a digital network of financial ecology. This is a chain of ecological block bottom support, on the basis of the company is the certificate model of economic organization mode of cooperation and competition. In such an ecological in the future, each user’s identity is confirmed after verification, to ensure privacy and guarantee the identity of the real state of the existing in both. In the real world of various types of assets by way of ST in this ecosystem in market and circulation. The formation of a stable currency circulation in this ecosystem will be based on these assets. Digital assets and stable currency users are stored in the chain in his wallet. Because the liquidity is very strong exchanges provide digital asset trading services to 7 * 24 hours in the network environment, so users can easily free between digital assets and stable currency own direct conversion. The user only needs a wallet can be traded on exchanges, can also be paid in the retail field, can also transfer to any one wallet address on the chain. In such a network of ecological, current banking and Securities limit is not so clear, securities trading and retail payments will be combined seamlessly.

Such a thing is not out of reach and network ecosystem, the prototype is in the United States market in STO. The STO market is providing basis of each part of the network environment, including real assets through securitization and traded, in a distributed manner in digital assets mortgage found on stable currency, through the transaction and payment links, encrypted digital assets trusteeship and liquidation after the transaction and so on in the block chain. But now apparently has the company clearly see the prospect, is progressively moving in this direction. For other companies, see the prospects, combined with its own advantages, is now ready to set up their own unique value in the future is very important in ecology.

In the current development of encryption of digital assets at this stage, all companies are basically at the same starting line, whether it is traditional financial companies, the success of the company or the Internet industry, or the development of the block chain and encrypted digital industry is flourishing, even before the advent of the company. For these players, see the future development prospects and to adhere to the correct strategy, there is a great probability to grasp the opportunities brought about by the chain block. Of course, these companies also include Facebook.

According to the news report, a strategy of Facebook in this area is to develop their own currency stability. In addition, although there have been reports of Facebook purchased some block chain company or the same number of block chain company had contact, but there is no official reports on this aspect of the strategy of Facebook.

In the digital network to the financial ecological goals in the process, the most important thing is to distinguish the order of priority, clear objectives, so it is really possible to establish their own in the future ecological in a space for one person. For Facebook, I think the stable currency at this stage is not suitable for Facebook. Facebook should do now is to create a block based on open chain technology support ST distribution, marketing and trading network ecosystem. Such an ecological value will be much larger than the Facebook of a company’s equity value to. Moreover, the U.S. STO market development space in the future, the stage of development, the current regulatory system, the stage of technology development, competition, products and users of the operation space, a variety of advantages and Facebook itself is for Facebook is one of the best opportunity.

In the development of the market space, although the US STO market is still very small, but I think that in the future there is a huge space for development. We in reality various rights and assets are going through the mapping of ST to encrypt the digital assets in the world. The volume will be far more than the current stock market.

According to the current regulatory system of the United States, ST is mainly used to deal with the offbeat assets, but also can make equity financing in small scale within the scope of. ST basically is to raise funds mainly based on private, but can also be raised in a small range. And it can be raised to the user, can also be raised to overseas users. In the relevant regulatory licenses, the various regulatory licenses can also support the fundraising process, including investment banking, trading, asset custody and investment banking licence. So any company in the United States as long as the holders of the relevant licenses, the relevant business can carry out compliance STO. This course also includes Facebook.

In the aspect of the development of technology, technology system has begun to move to the direction of distributed system. Some distribution platform is complete in block chain network operation support, some trading platforms also uses a centralized and distributed liquidation mode matching. But the market still lacks a bottom block chain companies can share. This is the underlying basis of future ST financial ecology based on its value as can be imagined.

In the competition, the U.S. STO market are the main participants in start-up companies, whether it is on the issue of the platform, trading platform and marketing platform, or assets hosting company are so. In this market, Facebook is definitely a 800 pound gorilla. The various segments of the existing participants not Facebook opponent.

In the time sequence of development, due to the U.S. STO market is still in the early stages of development, so business development is not too fast, the trading volume is not too large. This gave Facebook enough time and opportunity to develop and improve the technology related to the system. The technical aspects of the development work is in fact with the development of STO market and simultaneously. The advantages of Facebook itself is obviously. It covers the world a huge social network is any financial companies are coveted goal of cooperation. The pursuit of Starbucks will look at Bakkt as can be imagined. A digital wallet Facebook in its clients can trade and payment, it can immediately improve the encrypted digital assets and use scope. In the financial business, Facebook Facebook and Facebook Pay had developed Credit products, so it has very good accumulation in the relevant technical and business aspects. These are Facebook to ST network construction of digital financial ecological trading platform as the center of the advantage. Once the ecological building up, a stable currency is one of the products. Can a provider to offer this product competition way. And there will be a stable currency more reasonable mechanism, instead of the simple encryption of digital currency.

However, I think that in this process, the biggest challenge for Facebook is neither technical nor business, but the ecological organization form. In the block chain support in the business world, the best form of organization must be the same type of company based on token chain and chain combination model of governance, by the cooperation and competition of the mode of operation of the. Whether Facebook can be the first to lead the development of the construction of the network, but did not become the exclusive network, this is a huge challenge for it. If Facebook can set up a network that uses the blockchain ecological technology and this governance model, competitors will not give too many chances. On the contrary, a traditional closed network will bring many competitors, the chances of success are greatly reduced. I think of Facebook, in the governance mode is the biggest challenge, after all, change the thinking and operation habit is very difficult.

Banks to explore the endeavour, and hesitation wait behind the chain block

 Banks to explore the endeavour, and hesitation wait behind the chain block

Text: Haining

Editor: Deng Long, Wang Qiao

Banking and finance technology enterprises in cross-border payments in the field of ocean compete.

In February this year, Japan JP Morgan announced the official launch of JPMC, for the flow of funds between enterprises. A month later, IBM announced the launch of World Wire payment network, will provide the service for the 47 currencies in 44 bank terminal 72.

In fact, the traditional banking and financial technology between enterprises “race” has been for a long time. Is not only in the field of cross-border payment, so it is in the block chain, banks to explore nature not far behind.

 Banks to explore the endeavour, and hesitation wait behind the chain block

Pictures from the network

Consultancy McKinsey has said: the blockchain will become the bank “subversion of the rules of the game”. The bank will completely subvert the underlying technology and infrastructure, and bring about a change on the business model.

Between subversion and self reform, the traditional bank selection and their subversive embrace.

However, the blockchain application case canvass of banks, and actively embrace the appearance seems dubious”. Banks treat the blockchain attitude, and treat all the technological innovation attitude is exactly the same, perhaps more cautious.

Dare to touch the core business

Although the constant reports of banks are pushing block chain project, but most of them do not involve the core of the deposit and loan business.

Zinc link learned that, as of now, claims to have application in the field of landing block chain banks have been many, is actively exploring the block chain is more be too numerous to enumerate. Since 2016, the China bank, industrial and commercial bank, construction bank and other four banks in the first act of cross-border payment, bills, financing, settlement, asset custody, digital integration, BaaS field application. But from the actual project, involving the core business application is small.

 Banks to explore the endeavour, and hesitation wait behind the chain block

Pictures from the network

Hug and block chain back to back, what is the bank’s concerns?

Technology is not mature, the infrastructure is not perfect:

Not all banks need block chain, however, even fit in some of the characteristics of the business, the bank is full of worries.

Forms Syntron R & D center director Wang Chao told the zinc link, banks and other financial institutions for the high requirements of the maturity of the system, the high frequency trading scenario, block chain performance is one of the main bottlenecks, compared with the traditional centralized processing mode and no advantage. The distributed architecture not on the block chain, which requires coordination and common management, permissions granularity fine enough also increased the difficulty of block chain management.

In addition, compatibility problems block chain system and the existing system, as well as the cost and difficulty of the development, operation and maintenance, but also allow banks to hesitate.

 Banks to explore the endeavour, and hesitation wait behind the chain block

Pictures from the network

Inter agency cooperation, involving data privacy and security:

According to a reluctance to disclose the Name insiders told the zinc link, 2017, Chinese UnionPay has developed a cross line integral landing block chain based system, the project has passed the POC test and delivery, but eventually settle a matter by leaving it unsettled.

Online, deputy chief engineer of new technology research and development department responsible for China UnionPay data Li Tao has affirmed the blockchain can solve the integral cross sharing problem, “compared with the traditional centralized database, block chain has information transparent, data tampering and other advantages, so in some of their cooperation and information asymmetry in the big scene come in handy.”

So, why not see the subsequent promotion of business?

 Banks to explore the endeavour, and hesitation wait behind the chain block

Pictures from the network

According to the insiders speculated that in addition to technical reasons, perhaps related to the internal decision-making.

From the operational level, cross line integration sharing inevitable interbank data sharing, data related to the core interests of the bank, the bank will not easily to show people.

Moreover, collaborative characteristics of distributed database to data sharing, it involves the issue of data privacy. According to data privacy for computing such solutions is still in the stage of technical research.

Policy uncertainty, poor compliance issues:

In China, as long as the formal institution, on any occasion were never talk about digital currency, even if it is to do in the block chain system in circulation “card”, the industry is also cautious.

According to PWC’s “2018 financial report” for the application of science and technology, the block chain in the financial sector, respondents are most concerned about is the compliance risk.

Overseas, many banks are actively exploring based on digital currency payment. AI zhesen found in research bankers, 90% banks said it is actively exploring digital currency.

 Banks to explore the endeavour, and hesitation wait behind the chain block

Pictures from the network

In 2017, UBS combined 6 banks issued “multi function settlement currency, intended to be used in the block chain on the settlement of a financial transaction; in 2018, MITSUBISHI UFJ announced on 2019 test of digital currency…… After this year, JP Morgan JPMC, the bank’s digital currency voice is gone up.

But never talk about “money” in China, it all seems very distant.

In 2014, the people’s Bank of Chinese established legal digital currency panel, in order to prove the feasibility of legal digital currency. But until today, there is still no definite news.

Many institutions in the hope that the central bank digital currency issue. The Ministry of science and technology development strategy of Jin Qiu Liu Mingrui vice president told the central bank zinc link, digital currency is a digital currency, it does not mean the issue of digital currency legalization, but the banking industry compliance exploration plays an important significance, at the same time, in the “innovation always top-down” of the financial industry, which means the possibility of the new clearing medium.

Hold the cheese, the traditional banks actively explore the blockchain

The banks are taking more than financial functions. From traditional outlets to online banking, to the mobile terminal, and to the present service experience, or spontaneous or forced, traditional banks are being pushed in constant flow.

With the publication date of licence Jianxingjianjin, virtual bank is also the voice of the rise. Hongkong is about to usher in a virtual bank, it is considered in the Hongkong market is subversive. However, informed the media, Tencent, Ali, millet, zhong an all in the column. From the list of licenses, many traditional banks may not keep up the pace again, they will become a member of the subversion?

 Banks to explore the endeavour, and hesitation wait behind the chain block

Pictures from the network

In the mainland, “virtual bank” or “Internet banking”, with micro focus bank, commercial bank and other led. As the first private bank, internet bank, micro public will probably become the first “blockchain bank. Today, ABCD (artificial intelligence, block chain, cloud computing, big data) has become the four major elements of the micro congregation.

According to the PWC report, the blockchain technology can be applied in different from banking, payment and settlement, to the circulation of bills and financial supply chain, to more complex securities issuance and trading and other core business areas. Bring the block chain technology proceeds will benefit all parties involved in the transaction, including banks, bank customers, partners. The process of financial services are efficiency bottleneck, transaction time delay, fraud and operational risk pain points.

In fact, the bank is the carrier of financial function is not changed, change is the bearing medium and the form of service.

Whether it is the independent research and development or cooperation with financial institutions, traditional banks always cautious may need a faster response and more open attitude, in order to hold the “cheese”, so as not to lead in the blockchain a new round of reform has been “subversive”.

The U.S. presidential campaign of Chinese love bitcoin

 The U.S. presidential campaign of Chinese love bitcoin An Asian American presidential election to surprise, if he only accept other encryption currency bitcoin donations, also claimed to be for everyone to pay a “national income”, you will not feel this man crazy?

This is Yang Anze, the failure of the Internet bubble, and the rise in Internet dividend period, the first in 50 years to participate in the U.S. presidential election of the Chinese, he is also a friendly crypto currency, claiming to build a more transparent community with the block chain and encrypted currency.

[original] deep chain

This is not bright.

 The U.S. presidential campaign of Chinese love bitcoin

Chinese American presidential election

“I am Yang Anze, I want to participate in the 2020 presidential election.”

 The U.S. presidential campaign of Chinese love bitcoin

When such a word, say from a yellow skin of Asian mouth, everyone was surprised, who is Yang Anze? Chinese? Kidding, what he run for president of the United States?

In February 10th, a strange Asian face again in the “New York Times” weekend edition, attracted people’s attention and curiosity; in March 11th 2020, as the Democratic candidate for president of the United States, Yang Anze reached a milepost: for his contributions to the number of breakthrough 65 thousand! This is a condition to be able to participate in the Democratic Party’s presidential candidate debate.

All the people are aware of this, Asian is not a game, he is really.

For most Americans, Asians usually rarely with political connection, Yang Anze is a strange name.

2017 at the end of the year, 43 year old Yang Anze to the Federal Election Commission (FEC) submitted a written application, 1 2018, he officially announced its intention to represent the Democratic Party presidential election of the United States 2020, New York became the first Chinese entrepreneurs to participate in the running for president of the United States 50 years.

Yang Anze was born in 1975 in New York, grew up in a typical Chinese intellectual immigrant families, parents are from Taiwan, are well educated.

Like many Chinese immigrants, Yang Anze also inherited the “Curve Wrecker gene”, studied at the University of Ivy League Brown University, master of Arts in economics and Political Science degree, Yang Anze entered Columbia University law school, and obtained a doctorate degree in law. After graduation, success has become a corporate lawyer.

In 2000, on the occasion of the fast development of the Internet, work less than a year Yang Anze mood.according restless heart, decided to resign, join the Internet business tide, had not expected, the Internet bubble was broken, Yang Anze first tried to venture bitter defeat.

In 2006, 6 years of silence, Yang Anze again “the sea”, adding a friend founded a small company — Manhattan exam training training, and worked for the CEO in the near future, this time, Yang Anze is successful, the company was eventually training giant Kaplan acquisition, Yang Anze also won the first gold of life.

In 2011, Yang Anze’s three venture, founded the non-profit organization Venture for America (American venture), had left the community dedicated to helping young people want to start. The first year of the project only to recruit 40 people, the budget of $200 thousand.

By 2017, the project budget has more than 6 million U.S. dollars, a total of more than 500 people involved, they set up 29 companies, more than 2500 jobs, with this achievement, in 2012, Yang Anze was invited to the White House for president Obama presided over the youth entrepreneurship forum.

 The U.S. presidential campaign of Chinese love bitcoin

Accept bitcoin donations

Yang Anze is a friendly person cryptocurrencies.

In July 2018, Yang Anze tweets that he now accept bitcoin, and any workshop based on the ERC20 standard Ethernet token donations to support the 2020 U.S. presidential campaign.

 The U.S. presidential campaign of Chinese love bitcoin

A ripple, the move triggered a storm, this tweet under the influx of crypto currency enthusiasts, applauded Yang Anze’s behavior, “not what can stop encryption currency, even the presidential candidate to join”, and called on Yang Anze to bitcoin into the mainstream of the world.

At the same time, accept the encryption of monetary donations also attracted a lot of criticism, critics say the crypto currency can not be tracked, will lead to illegal immigration more funds, environmentalists criticized POW for mining waste of resources, ecological damage to the earth.

This is not the first time Yang Anze mentioned bitcoin, as early as 2013 bear market, bitcoin fell below $600, Yang Anze forwarded tweets about bitcoin prices collapse, in the comments, Yang Anze for the blockchain Praise Words — “blockchain has rich potential, can make many things more safe, efficient and transparent.”

 The U.S. presidential campaign of Chinese love bitcoin

In 2018, in an interview, Yang Anze said the crypto currency helps to establish a more transparent community, a smart government will welcome this thing and will use it, at least he will do.

Yang Anze is not the first to accept the encryption of monetary donations politicians.

Kentucky Republican Senator Rand Paul in the 2016 presidential campaign to accept bitcoin donations. The Republican Senate candidate Austin Peterson received 24 bitcoin donations in January 2018 ($9700).

But as a Chinese, American presidential election, and accept the first high-profile encryption monetary donations, people called Yang Anze.

 The U.S. presidential campaign of Chinese love bitcoin

For all subsidies

During the campaign, Yang Anze did not take the unusual way, other people Democratic campaign will focus on “immigration policies”, “climate agreement”, “tax reform”, Yang Anze will focus on the slogan of an unusual theme — “human supremacy!”

 The U.S. presidential campaign of Chinese love bitcoin

Yang Anze believes that artificial intelligence and automation technology in the future will bring disaster to mankind, and that the federal government a month for each of the 18 Americans aged 64 to $1000, “national income”, without any additional conditions, so that everyone can maintain stable life at least.

Yang Anze’s worries are not unfounded, more and more economists and experts have expressed the artificial intelligence technology impact on the economy and employment anxiety. Mr Kinsey consultants said in a report in 2018, the United States in 2030 1/3 will be replaced by artificial intelligence, thus disappear.

In January of this year’s first interview, Yang Anze said, the American Midwest lost 4 million manufacturing jobs, the next one will be affected by the truck driver, automatic driving vehicle will make millions of mature truck drivers out of work, of which 94% were male, average only a year of high school or college degree.

The same situation in the retail industry, call center, fast food industry, insurance companies, accounting firms and other industries continue to unfold. If they lose their jobs, the American society will not be stable.

For the source of a huge amount of the cost of Yang Anze believes that since the enterprise profits from automation and artificial intelligence in the development of science and technology, resulting in a large number of Americans are unemployed, so they have an obligation to pay more taxes, for example, can use 10% of the value-added tax to bear these costs.

The basic income advocated by Yang Anze (Universal Basic Income), referred to as UBI, the rise in the last century in Europe in 80s, in consideration of each person’s needs, employment status or skill level, the society should provide a fixed allowance for every citizen.

UBI itself is a utopian idealism, its ideological essence summed up in one sentence is:

“Our income and wealth not only from their own efforts, it is mostly due to the efforts and achievements of our ancestors, so every man on the earth should have the right to enjoy a certain degree of our common human ancestors left the social dividend.”

In reality, UBI was conceived as a way of government subsidies, through direct funding to the residents, putting money back into the economy.

However, the development of the block chain and encryption currency now provides us with a free and democratic way of globalization and trust to implement UBI, and does not require the participation of the government.

At present in the world, has emerged a group of using encryption monetary allocation basic income national projects, although many are still at the initial stage of the project, or even just thinking, but Something is better than nothing.

One of the most famous projects should be the most known EOS, love to write Blog BM is writing a book on UBI, and the telegraph group shared their understanding of UBI, there is speculation that the BM EOS is to put the annual additional 5% used for UBI funds, although EOS has not seen any substantial progress, but in BM temper, perhaps, what day do.

In addition, EOS copycat version of ENU has been an advocate and practitioner of UBI, has officially launched the Oracle system, and open registration.

Mannabase is an American charitable organization has registered, launched in 2016 and called “Grant Coin” token, is a well-known chain block UBI project.

 The U.S. presidential campaign of Chinese love bitcoin

Behind the project team to create a global currency network, the network is free to all citizens of the earth, through KYC, we can get a weekly UBI bonus amount, depending on the current number of users and you participate receive recommended users.

The future, if Yang Anze became president of the United States, to practice its UBI policy, will use the block chain and encryption currency, based on the previous to his block chain and bitcoin positive attitude, we might expect.

However, the Yang Anze campaign for this thing the president of the United States, the U.S. mainstream media does not have any expectations, the U.S. NBC News Network CNBC given in the 2020 elections, “33 people list”, to the former vice president Biden, to star in “the rock” Jonny, have photographed, but not see Yang Anze figure.

 The U.S. presidential campaign of Chinese love bitcoin

Yang Anze will become the dark horse of American politics? Let us wait and see.

The deep Deepchain chain (ID:deepchainvip) original. Without authorization, prohibit unauthorized reprint.

Where a fire captain can reverse the currency security crisis?

 Where a fire captain can reverse the currency security crisis?

Because of currency founder Zhao Changpeng about IEO improper speech, once again bogged down in crisis vortex. Fire captain ho first micro-blog, after frequent media interview, this time she was able to reverse the crisis?

 Where a fire captain can reverse the currency security crisis?

What one in defeating”

3 12, currency security founder Zhao Changpeng told a media interview, said: “IEO is the core of the project is to find a good… Welcome other exchanges to copy”. It is not difficult to see, Zhao Changpeng Ann LaunchPad coin restart IEO is full of confidence. Indeed, then IEO (Initial Exchange Offering, which is for the first time on exchange issue) fame, other exchanges are ready, ready to have an Launchpad and a piece of money. However, a co-founder of what jumped out to “criticize”, tried to clarify an association between IEO and coin.

 Where a fire captain can reverse the currency security crisis?

Where a coin Ann co-founder of 17 micro Bo said, do not know what is IEO E? 21 said in an interview, do not know who put forward the concept of IEO, but certainly not money security. A IEO why she was so sensitive, even repeatedly published medium term .

 Where a fire captain can reverse the currency security crisis?

 Where a fire captain can reverse the currency security crisis?

the sword of Damocles

Sequoia Capital last year sued the currency security during the currency Zhao Changpeng Ann CEO Twitter said: may soon require all applications in the currency of an on-line project and disclose whether Sequoia has direct or indirect relation. In the twitter released less than 1 hours, where one of the media is very unhappy, two times micro-blog clarified: “Zhao Changpeng refers to the future, apply for currency projects need to disclose whether an accepted Sequoia direct or indirect investment.” while not as the media described as “clean” Sequoia Capital related projects. Subsequently, Zhao Changpeng also issued a clarification. So what the “spoilers” is false, fear of “fire” is true.

 Where a fire captain can reverse the currency security crisis?

This is because IEO and ICO have, like STO, is the use of Token financing, legality has been the head of the Damour Damocles, eventually escape the fate of short-lived. In March 21st, Beijing Gold Association issued “on the prevention of” virtual currency “” ICO “” STO “” stable currency “and other the name of the variety of illegal financial activities risk warning”, directed at the IEO and other illegal public financing behavior.

 Where a fire captain can reverse the currency security crisis?

In addition, since 2018, the United States to strengthen the supervision of ICO. In March 7, 2018, the U.S. Regulatory Commission began using the SAFT protocol ICO, and issued subpoenas to 80 digital currency company. At present the most SEC digital currency as the securities law and the stock for the same, so the digital currency IEO listed the same terms with this law.

This is what a good understanding of why the recent spate of media interview, continue to throw E to this problem where this is the policy of the red line IEO and an isolated currency brand, Iridology, here I have to admire what a professional sensitivity. The concept of IEO in the end from where?

 Where a fire captain can reverse the currency security crisis?

IEO from the collar British Zhao Changpeng”

The search on the IEO article, originated from Changpeng Zhao and binance exchange led the British in January 29, 2018 released “IEO, IFO, IAO, ICO, Token release notes”.

 Where a fire captain can reverse the currency security crisis?

This paper points out that the IEO, or the initial public offering (IPO), refers to a project without ICO listed directly on the exchange. Restricted countries / regions in ICO, we can see more of this Token release. He also pointed out that IEO is a basic problem: there is a high proportion of the digital currency is held by a small number of people (hereinafter referred to as the “minority”).

The article points out that the “minority” problem, will lead to two types of risks:

First, listed on the exchange, if the currency price rise, so “minority” will earn more than others. If the currency price falls, which means “minority” is a massive sell-off (likely to profit or stop), all new investors (buyers) are at a loss. No matter what kind of situation, “minority” are at the expense of a large number of retail investors at the expense of benefit.

Second, “minority” is easy to control or manipulate currency price. In extreme cases, projects are not even private, all digital currency held by the project team. It can be seen that IEO is a kind of control by the project team of digital money sale price way.

 Where a fire captain can reverse the currency security crisis?

The “true” Zhao Changpeng coin and ANN

Earlier reports pointed out that Zhao Changpeng, led the British claimed to be an employee for money account most is fake. I hereby declare that Changpeng Zhao, led the British cannot be confirmed as Zhao Changpeng himself without official confirmation, binance exchange is in the same way.

 Where a fire captain can reverse the currency security crisis?

Why use “true” Zhao Changpeng coin and Ann?

If Changpeng Zhao and binance exchange led the British have an account is true, then what is a clarification of IEO and Ann everything unrelated coins done will be in vain. In addition, “IEO IFO, IAO, ICO, Token issued a notice” even said that in the listing by digital currency coins issued by IEO, is shilly-shally. In addition to the requirements of these projects in advance to the exchange offer and sell digital currency at a fixed price, “there seems to be no good solution what a few problems, this solution essentially is already ICO.

If the account is true, in a series of currency IEO security recently conducted when, for these risks, a currency measures of maintaining a large number of retail investors? Is to take the said last year essentially has a ICO solution, or have a better solution? This problem is not only currency security needs to retail investors account, more retail investors should think about who can protect your interests. Since last year has been questioned IEO, but what makes an Launchpad IEO to restart the coin? This question until the next analysis.

 Where a fire captain can reverse the currency security crisis?

How to put out the fire

The “true” Zhao Changpeng and Ann currency account, although this is not the core issue, but if confirmed to be true, then all efforts will be cast to waste. Then he only can walk the road, is to prove the IEO concept of non currency security personnel first proposed, is also found in this article published before the card data. Then a solution of “minority” issue of the new scheme, to restart the Launchpad IEO coin security provides the basis finally apologized to investors. Forget, there have been IEO posting this. This is the worst, because not only what a discredit their own image, but also indirectly acknowledged the currency company management oversight, pulled down the company’s brand image.

If the 2 accounts are confirmed to be false, what one needs to solve the problem of speech founder Zhao Changpeng interview. To speak, where a speech if Zhao Changpeng is true, then touch the policy red line did not solve. Will speak to the second choice is mistakenly reported, because this can completely solve the red line issue, but against the media.

The most likely solution is the following three steps: 1, the direct negative currency an a series of recent currency financing behavior and IEO. 2, and had an interview with the media joint statement on IEO speak incorrectly reported Zhao Changpeng, for example, is the period of probation and negligence, caused by the reported phenomenon interpret out of context. 3, through the activities, such as creating a Mengliao greater public opinion topic, weakening the crisis. Let’s see where a fire captain again will how to reverse the crisis.

Business bigwigs Coin Ring escape

The hash sent (ID:hashpie), author: not broken, the daily planet authorized forwarding.

 Business bigwigs Coin Ring escape

17 years after the blockchain into public view in speculation under the leadership of then more and more people involved in this field is considered to be the era of opportunities torrent. Many of them like Sheri Kaiserman in Wall Street securities industry 18 years investors have “Washington Post” media giant, vice president of strategy, people are expected to stand on the outlet of a smooth take-off, to prove their roots in traditional industry for many years to exercise a keen sense of smell.

But in this chain blocks the effect of making the rich, strong speculative property while adding a very low threshold small circle, who resume bright industry leader who turned back, nor are the pursuit of innovation and breakthrough of the brave story. Some “tainted” bankers hope to seek a new way of business here; some speculation is expected to continue to defraud here habitual tricks; and those in the wave of the wave of entrepreneurship defeated the losers more hope blockchain play a nice turnaround.

This encryption block chain once the geek plots, now is more like a loser who set the finish, writing a glorious little more dismal.

Resume stunning “tainted” banker

The second half of 2018, after the EOS network smoothly, EOSIO protocol behind the development of block.one, the creative team in addition to the CEO Brendan Blumer and CTO Daniel Larimer almost all home, which was founded more than a year of start-up companies experienced a top executives big shake.

 Business bigwigs Coin Ring escape

Source: block.one official website

With 16 years of experience in banking before the Bank of Commonwealth of Australia (CBA) chief financial officer Rob Jesudason, after leaving the old club on office block.one group president, Australia’s largest bank from the second incarnation as second in command in charge of a market value of more than $3 billion of the company’s chain block encryption currency, the management of this company the Executive Committee, responsible for overseeing the process of company executives key decision-making and strategy execution.

Rob Jesudason can be called “amazing resume”. From 1994 the first job after graduation Aston University management professional is cooperate with general electric, after four years of service in the McKinsey, in the 16 years of work in the bank were served as Barclays Bank, JPMorgan bank, Credit Suisse, Bank of Commonwealth of Australia and its subsidiary Oakland savings bank executives. This occupation resume anywhere are sparkling, but if combined with the Australian banking frequent scandals and regulators of bank executives cleaning, we have reason to suspect Rob Jesudason to the cause and the role in whether he has the ability to serve as a supervisor.

In December 2011, Jesudason joined the CBA from Credit Suisse resigned as executive director, responsible for the group’s development strategy; in the same month, Jesudason’s colleague Ian Narev at McKinsey when CBA served as ceo. In the 7 years Ian Narev took over, the Bank of Commonwealth of Australia is the biggest contribution to achieve profit growth of several years, 2016 CBA annual profit record, reached 94.5 million Australian dollars; 2017 years after tax profit of more than 99 million Australian dollars.

But earnings rose at the same time, also frequently broke the scandal. Has pointed out a special investigation of Corners American Broadcasting Company Four broadcast, the Federal Bank Insurance Department CommInsure uses unethical means to refuse to illness or dying insured claims.

In 2014, CBA to the applicant is not disease, gastric ulcer or other intestinal diseases and other reasons refused to consult a doctor, suffering from advanced pancreatic cancer Noel Stevens claims; the same year, the 37 year old Evan Pashalis was diagnosed with acute myeloid leukemia, two doctors diagnosed his life less than a year, when he to the federal bank for payment, the same is rejected, the reason is that the bank hired third doctors think he has a 30% chance of living for a year; a similar case was diagnosed with severe depression and permanent is not suitable to participate in the work of the former employee of CBA Matthew, Nicholas Bishop in lung cancer patients. CBA’s former chief medical officer of Koh Four Corners program group said that during his tenure, he and his team are often under great psychological pressure to modify medical advice, to enable the company to reject a claim.

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Source: Sydney Morning Herald

To 2016, Australia about 4 million people is the Federal Bank Insurance Department of the insured, the annual premium of approximately $2 billion 500 million, net profit of the first half of the bank insurance business is only about $191 million ($270 million).

But need a little extra attention is Rob Jesudason CBA served as executive director of the international financial services in Hong Kong from 2014, responsible for Chinese, Indonesia, Vietnam, South Africa’s retail commercial banks and international growth in life insurance business.

 Business bigwigs Coin Ring escape

Photograph: commbank 2017 earnings

In addition to the insurance business scandal, the Bank of Commonwealth of Australia is facing interest rate manipulation, financial fraud and improper charges and other charges. CBA worked in the financial sector financial planner Don Nguyen also claimed that, in the CBA sales staff to judge standard of enterprise culture, many customers are forced to buy some are not suitable for their own products, resulting in financial bankruptcy, in order to better performance, he even had forged the signature to the customer, additional income the cost, and in the case of unauthorized users for investment accounts. In the survey results later, a subsidiary of CBA Commonwealth Bank Financial Planning and BW Financial Advice in financial services do not provide the case to as many as 31500 customers for improper charges, in accordance with the provisions of the Australian Securities and Investment Commission, they shall refund to users $143 million.

Even more shocking is that Australia had four rows of allegations of improper charges totaling more than $2 billion. Serious financial services chaos prompted regulators decided to rectify the Australian banking industry in jeopardy.

In June 2017, Ian Narev announced the appointment of Jesudason as the bank’s chief financial officer, said the rapid change of economy, regulation and competition pattern has a keen perception.”

 Business bigwigs Coin Ring escape

However, in the Jesudason CFO as the only 2 months after the Australian financial crime watchdog, reporting and analysis of Australia trading center accused federal bank in violation of relevant laws and regulations on anti money laundering and anti terrorist financing, said it failed to properly monitor and report a total of up to 6.247 billion of suspicious transaction records; from the year 2012 the bank violated the law of anti money laundering operation up to 53700 times, 3 years at least 4 a criminal group by using intelligent deposit machine of the bank deposit illegal funds of nearly 7500 million Australian dollars, some of them involved in the drug trade.

The same month, before the bank announced the annual results, the CBA board announced that all the short-term bonus cancelled CEO Ian Narev group and other executives of the 2017 fiscal year, and the confiscation of part of 16 years of earnings. Ian Narev so a total of $4 million 800 thousand was recovered, the salary is about 55% a year ago, Jesudason was recovered $1 million 545 thousand, 17 years in the hands of more than 16 years pay for less 1 million dollars. Later, people on the bank excessive executive pay, held a number of strikes in protest activities, at the beginning of the March 2019, Australia four bank executives the highest annual salary cuts of $500 thousand; the average Australian state bank executives annual salary cut by $230 thousand to pay a total of more than $100 million.

 Business bigwigs Coin Ring escape

Photograph: commbank 2017 earnings

In April 2018, Ian Narev for money laundering scandal left a month ago, the bank institutions involved manager, technical director and human resources executives have left; at the beginning of May, CBA acknowledges that trader in February 2012 to June during the 5 manipulation of bank bill swap rate, and paid a $25 million fine; a week later Jesudason, leave.

Regulators strict rectification means that the financial sector in Europe almost reshuffle, four lines of CEO two were fired, ANZ CEO on 2016 to the public apology misconduct; chairman of the National Australia Bank early retirement, ANZ bank 200 employees (including high tube) turnover, 400 current and federal bank former executive director and general manager to be held accountable.

The survival situation, the banking industry serious drop of the salary pushed Rob Jesudason to block the harbor chain.

In addition to Jesudason, block.one in November 2018 also appointed former Bank of Commonwealth of Australia investment development and financial restructuring department executive general manager Steve Ellis as chief financial officer; in July 2018, the Australian accounting firm PWC director Ben Ingram resigned and joined Bitcoin.com.au as CEO encryption currency exchange.

Royal Bank Commissioner Kenneth Hayne announced at the end of 2018, a 1000 page interim report said “sales become the focus of banking and financial services entities, these banks internal incentives are in the pursuit of profit. The greedy culture has been prevalent in the Australian financial industry executives.”

Today, the “culture of greed” and found this piece of fertile land block chain.

Speculative nature Star project founder

Unlike the Rob Jesudason high bankers this identity, the nature of some people by glamorous resume also difficult to conceal their speculative dealers.

The second half of 2017, the pressICO block chain consulting company founder Jerry Ji Guo and chairman of the domestic listed companies in Kunlun Zhou Yahui jointly launched the blockchain web video content sharing platform ICST, and launched the ICO project at the beginning of the line also got Li Xiaolai’s investment. In the ICST official propaganda, Jerry said they had Ji Guo and “American Idol” and “voice of America” two columns made of cooperation, he released a promotional video title is “American Idol” tour of Asia encryption platform.

 Business bigwigs Coin Ring escape

Excellent resources plus big platform, ICST in ICO days mad extravagant embrace by a large number of investors, raising the scale of billions. At that time Ji Guo to block chain serial entrepreneur identity in the currency circle to mix of wind, its marketing ability is generally recognized by the industry, because he claimed to have helped the polymath project raised more than $100 million. From the resume, he indeed is one of the best “smart people”.

The filtering algorithm of 2003 only 15 year old Ji Guo with Bayesian statistical spam written independently, AI won the prize for the achievement issued by the American Association for artificial intelligence of high school students at the Yale University School of economics; in 2008 he began to practice in the “Newsweek”, and in the next few years as a freelance writer, regularly as the “New York Times” and “Washington Post” feeds.

 Business bigwigs Coin Ring escape

Jerry Ji Guo AAAI in the American Association for artificial intelligence winning record

In 2009 years, after graduating from the University of the very next day, Jerry Ji Guo alone came to Amsterdam, here spend all their savings, then bought a ticket to Iran, the capital of Tehran, going to Tehran university professor of entrepreneurship courses. But when he arrived, just to catch up with the violence in Iran after the election, the University closed frequent conflicts, Ji Guo lost here when the teacher the opportunity. So he penniless in a local hedge funds looking for a job, begin to work during the day, at night with the anti-government youth Iran running with life, and the experiences recorded, published in several media he often submitted on.

“Newsweek” internal staff said, by virtue of these works, he was at the time of the new “news weekly” editor of the international Fareed Zakaria personally hired as a foreign correspondent, so in Iran during the “Twitter revolution”, Jerry Ji Guo became the most in Tehran after a Western reporter. For a first news industry, so the starting point is not low. But a wise man once was blinded by the material will inevitably go astray.

We can feel the reporter writing at the age of 21:

“Every day I have to go to work in the city’s most expensive shopping avenue Fayyazi, after selling Calvin Klein jeans, Gucci handbags, Dior perfume and Vitoria Secret lingerie boutique. At lunch time, I was discussing the merits of blackberry and iPhone and Iran at the same time.”

“The table at the Pyongyang casino on wasting a lot of time, but you will soon forget. I recently got a rare opportunity to travel here, I look forward to seeing the real scene like the movie “1984” in the same. But North Korea made me feel more like the “trump card” spy 4, only a few of the sexy blonde.”

 Business bigwigs Coin Ring escape

Jerry Ji Guo interviewed on a cruise.

The pursuit of material life contributed to his opportunistic habits. As early as 2008, the U.S. online travel website editor of AOL Grant Martin Ji Guo found that the company’s internal management system will use the old articles hanging in the browse list, to earn double pay, so he was fired. Later, Martin said “we even found him in an attempt to blog on the company’s website for $5 per price to rent out.”

Until 2011, he didn’t have his use of his position to obtain illegitimate income. Yes, except for the money, he also used his identity from the interviewee to get luxury and free international travel. In his “Newsweek” after the end of the internship, the legal department of the magazine received 12 letter about his complaint, questioned the person in charge of Thailand Tourism Bureau, why should arrange five-star a free trip to Thailand for the Guo and its companion photographer.

Later, Ji Guo admitted in an interview at the time, “Newsweek” has a special introduction of high-end lifestyle and luxury travel program called “good life”, this column often put the soft and some luxury advertising collocation together. “If I want to contribute to a free trip, I would tell the interviewee, we are a better life column group.” 9 2011, the “good life” when Ji Guo paid internship is over, and the “Newsweek” refused to renew.

But if Ji Guo knows in his media career, should not end.

After leaving the Newsweek, he and the Yale University alumni Michael Waxman set up a marriage social platform Grouper, and declared to obtain YCombinator investment. Grouper to position itself as a social club, to produce three male and three female line dating; at that time, with the same positioning of an American group dating site called Ignighter. In order to know the “Ji Guo”, then to the “the Atlantic issue” written by Ignighter CEO Adam Sachs interviewed, and chat for an hour, collecting information for his new company.

Adam Sachs recalls: “Guo and another interview, he also sent me some of his work during the” Newsweek “paper clip as evidence. I later learned that he is one of the co founders of Grouper. They asked a lot of questions, but a few weeks after the end of the interview, I have not seen the news manuscript published”.

After the deception event, Jerry Ji Guo not only from their start-up companies, even the boycott from traditional media in the United states. The media circle is completely mixed up.

Boycott in the United States, Ji Guo simply came to Beijing to open a net red burger. With a strong marketing capability and returnees identity, burger business in the first two years of the fairly fast, but there is no wall in the world, not to mention the Internet era. In the public comment, we see a netizen revealed Ji Guo in the United States through deception.

 Business bigwigs Coin Ring escape

In 2016, Ji Guo began to venture to no avail to block chain industry, so there is a scene at the beginning of the story, from the “media cheater” mixed block chain gangster position seems to be good, but that is not the case. In June 2018, ICST once the line fell 60%, almost zero; and in the Ji Guo help raise billions of funds Polymath projects, in fact only 1 and a half months and he maintained relations of cooperation, in addition to the Facebook because he bought some water to create a false popularity to cheat the advance payment from for $50 thousand, didn’t do what.

Unfortunately the speculative nature Jerry Guo always Ji he did not get rid of the nature of fraud. In August 19, 2018, ICST launched two months, he for publicity in the overseas, unauthorized use of backup key, bypassing the double signature user accounts in the presence of bitgo, BTC and ETH $about 3500000 investment funds repeatedly transferred to their private purses. Three months later, Jerry Ji Guo by the U.S. Federal Bureau of investigation on suspicion of telecommunications fraud arrested.

 Business bigwigs Coin Ring escape

Jerry Ji Guo 8 18 19 in April on several times to raise funds transfer to your own personal Wallet

Source: California District Court indictment

You will find the Jerry Ji continue to dig deep into the Guo is simply a treasure boy, from the beginning to dig his black chained and thrown into prison a heap of material. The founder of Grouper, a user claimed that: “although Grouper claims that the use of matchmaking algorithm, but Guo still after by simply browsing the Facebook, rely on manual match date your intuition, to play a role.” Open; burger, Burger was moldy because of the use of the customer to the poor; consult the ICO project, it is not only money to work, forcing the public partner reminds practitioners to avoid Jerry Ji Guo at all costs “.

Speculative nature is hard to change, when lies in familiar field “, the blockchain became his place to continue to defraud.

By the transformation of the Internet elite collective entrepreneurship

The blockchain is probably a local current technology can best embody the inclusive. Whether or not you have the experience of Daniel, whether the light will not affect you to join them, so all of a sudden, block chain not only became the new mainland bankers and speculators, became a refuge for entrepreneurship losers.

By the end of 2017, LETV sports capital chain rupture, CEO Lei Zhenjian, chairman of goofy for violation of the articles of association of the company by investors sued, originally holding 4 billion 700 million copyright music as sports IP, fame almost across the board collapse, and in the complex ownership structure, the company restructuring plan was difficult to advance, seeing the replay LETV hopeless, Lei Zhenjian resigned due to illness. The music group and the actual power of people Jia Yueting fled overseas, the Music Department of the business trip can be basically failed, leaving only the plight of the employees in the test the edge of unemployment.

After Lei Zhenjian departure, restructuring plan lasted nearly half a year to internal staff can not reach a consensus ended. In this case, the new capital investment company blockchain Pai CEO Wang Xin participated in and completed the equity financing of music as sports, it is worth noting that he is also the founder of ENT entertainment chain. Wang Xin has a strong background in the entertainment circle, ENT launched on the Quan Zhilong, T-ara, Clara and the stars of the station in 2017 after a 94 year, culminating in the policy window period to raise the public’s ENT raised nearly 500 million yuan in four months.

In May 2018, under the guidance of Wang Xin, former CTO Zhou Wenjian led the original music as sports development and operation team of more than 30 people to the collective block chain, announced in 16 years with a $300 million acquisition of the sports broadcast platform octopus TV modeled, related R & D block chain technology, plans to build on the block chain technology broadcast short video content platform “pilaf”. At that time the project has received a $5 million investment in new capital and set up the Pai Pai, Wang Xin new block chain technology company responsible for the pilaf business.

 Business bigwigs Coin Ring escape

Photograph: eye check

The music department staff after passive business failure, opened with vigour and vitality in the transformation of the way. The platform with its own original pilaf advantage project — football commentary, launched during the world cup in June 2018. Zhou Wenjian said to give the Reds platform integral pilaf and KOL have issued the blockchain, prompting each KOL to produce their own content. But after the transition team did not inherit the pilaf music as sports the importance of copyright gene, Zhou Wenjian even said: “we have learned from a bit of music as sports, early Internet products can have some lightweight style, such as the product model ran through the discussion of copyright issues.” And this is also for the transformation of the road doomed bumpy foreshadowed.

Shortly after the world cup, 2018 World Cup CCTV new media and telecommunications transmission channels designated official partner Migu company Yizhisuzhuangjiang unauthorized license to broadcast 2018 World Cup pilaf platform on the court, after the July Hangzhou intellectual property court hearing, delete the program immediately pilaf platform requirements. As a sports team with strong desire to survive and not for their success in the field of the block chain, at least until today has not. At present, the average daily amount of live pilaf IP browsing at around twenty thousand.

 Business bigwigs Coin Ring escape

Photograph: chinaz.com

When we want to get more information on the team, but was surprised to find the original music as sports CTO weeks in the sword, led the British data show that he is music as sports Senior Software Engineer; and led them down the blockchain road of Wang Xin, is a coin circle cut chives. 1 2018, a ENT online exchange in the break state for a long time, 7 months prices fell 99%; and after the line 3 months, ENT officials began to stop all propaganda activities, until today, the project team has almost no news, suspected disbanded.

 Business bigwigs Coin Ring escape

After the venture failed and the transformation of the road it is not easy, but the blockchain or losers provides a way to explore. With the music experience is similar to our team in 2015, Nora founder Wang Xin (the king Xinfei Peter Wang Xin) on suspicion of illegal pirated content and convicted of imprisonment, Nora was fined 260 million yuan due to the infringement, on the verge of bankruptcy. Wang Xin after the fall, the company shut down, the original Nora team began to block chain in the product manager to Huang Sheng under the leadership of the beginning of the second pioneering journey, they launched a three-year project, the flow of ore (LLT) 8 2017 on the line with only 3 coins, 49 seconds to complete the 6000 million ICO subscription.

However, the failure of the spell has been shrouded in these elite heads on the internet. Block chain provides only temporary shelter for them, just completed the flow of ICO ore immediately ushered in the introduction of regulatory policies, ICO is regarded as illegal financing, the project had to return the token; in order not to let the years of effort on fire, the flow of ore team in November, issued the “mining hardware flow box”, the first batch of “flow box” officially opened grab beta qualifications, more than 100 thousand people make an appointment, in the final 1 minutes and 03 seconds were wiped out.

But in January 12, 2018, the Internet financial good times don’t last long, China Association released the “risk on the prevention of 1CO activity in disguise tips” pointed out that IMO (to mill as the core issue of virtual digital assets) mode is disguised 1CO activities, with particular reference to the issue of “thunder chain grams” this case, said it is essentially a kind of illegal financing behavior. Then, the flow of ore closed the mainland official transfer function, under the frame of the dragon net exchange LLT.

When the enterprise capital chain collapse, the plight of the entrepreneurs collective transformation, the block chain is undoubtedly their refuge, but how long can stay in the shelter, the good luck. 2018 2 Wang Xin was released from prison, 3 cloud song dedicated to the development of artificial intelligence and intelligent block chain related business, has received $3000 million investment Bertelsmann Asia Investment Fund and IDG capital. In fact, in 2013 he had already planned to bitcoin concept into the P2P network, frustrated in the field of Internet Wang Xin, seems to look at the block chain to go farther.

epilogue

As a technology, the blockchain is advanced, but when this technology in connection with the money, greed and wanton luck began to grow. Although it was born in the beautiful vision, but at this stage it is with the purpose of each in this industry, and more often these purposes is about financial freedom instead of the supremacy of faith.

Only those who attempt to seek the transformation of vitality, from hunbuxiaqu traditional industries to block chain, from the fire to heaven’s salvation, or from the frying pan into another “fire”?

Reference material´╝Ü

[1] “the federal bank 2017 full year earnings”, commbank.com

[2]Ruth Fogarty, CommInsure: Who’s who in the Commonwealth “Bank’s life insurance”, abc.net scandal?

[3]Michael Janda Bank to cut executive, “Commonwealth bonuses, director fees after AUSTRAC scandal abc.net”.

[4]Kevin Poulsen, Journalist Jerry Ji Guo “Grifter Jailed for Alleged $3.5 Million Bitcoin Heist thedailybeast.com”.

[5]Ryan Tate, Deep Is Grouper Founder’s “How Con”, gawker.com?

[6] a coin, “ENT or 99.32%, 90 CEO with music as sports cut chives? “Interface.

[7] Zhang Shaohua, “a new journey of Nora Wang Xin: AI and block chain company for $30 million financing”, all-weather technology

Have to dig the market turning point? Bit, 200 thousand game machine

This article from the Coindesk, the original author: Wolfie Zhao

The daily planet Odaily translator | Moni

 Have to dig the market turning point? Bit, 200 thousand game machine

If the bit, who are most familiar with the mining plan, probably to the number of those the southwestern province of domestic mine operators of the crypto currency.

According to the local mine operators revealed that the bit continent has deployed about 200 thousand sets of equipment in the local mining, hydroelectric power generation capacity utilization in excess of hope brings low electricity to gain competitive advantage.

Relevant sources said, although the southwest China (including Sichuan and Yunnan) during the rainy season to come in until May, but has reached an agreement with the bit, some mines to deploy its mining equipment, in order to plan ahead, prepare in advance. Although it is unclear what will prove, bit mining workload (PoW) encryption currency, but this time they will deploy some of the latest products of mining machine, including AntMiner S11 and AntMiner S15, as well as some older machine models (such as AntMiner S9i/j). According to the online store, bit tag information, including S11, S15 and T15, the latest version of the machine is in “sold out”.

Although the main source of income is the sale of mining equipment bit, rather than independent mining, but in the current market environment, in the southwest region Feng before the water period ahead of the layout is still a chance that can not be ignored.

S9j and S11, on the site now bit machine retail prices are $400 and $500, if the bit, we can put all the stock sale, a total of 200 thousand of the two mills value will be around 80 million to 100 million dollars. It is important that this estimate was not priced at $1000, including S15 mill.

According to the world’s third largest mining pool operator f2pool tracing mining profit index shows that in the current market conditions, compared to the sale of S9j, S11 and S15 of the vehicle, security self mining more. The index shows that, based on bitcoin (Bitcoin), and the current price of $0.05 per kWh of electricity at a single benchmark, S9j, S11 and S15 and its daily profits were $0.87, $1.8 and $2.88.

Although it is not clear, the final bit can get cheap electricity in where, but according to some mine operators in southwest domestic said that the average price of the cost of the summer wet period when only $0.037 per kilowatt hour, if the mining profit index equation this price configuration to f2pool in the case, each S9j, S11 S15 and its average profit will increase to $1.29, $2.24 and $3.38.

Even if the 200000 sets of equipment, mining bits are assumed to deploy the low-end S9j mining machine, this volume will bring a profit of $7 million 700 thousand, per month for a bit.

At present, foreign media have been asked about the matter, bit company, but the company spokesman declined to comment on the matter.

The market began to recover?

Bit, began to expand the scale of operations, marking the encryption money market is changing.

Last year, the entire crypto currency market slump, leading to more than 600000 bitcoin miners had to shut down mining operations, the sale of second-hand equipment to low-cost mining (such as AntMiner S9). With the decrease in mining activity, and its business bit, has also been a great influence.

Bit, have been disclosed in October 9, 2018 blog (this information can be found on the Internet Archive website), all bitcoin mining machine generated using the SHA265 hash algorithm mining rate (or force) is about 2339 quadrillion hashes/s. The hash bit rate, assuming independent mining all from AntMiner S9, each hash and its rate is about 14 trillion hashes/s, which shows that they have about 170000 machines in operation at the time of mining. (1 quadrillion hash to 1000 trillion hash).

But when the time came in March 5, 2019, under the banner of the hash bit rate has dropped to 1692 quadrillion hashes/s. Based on the above assumptions or if it means that the bit continental shelf about 50000 mills in the past few months, the number of mill’s early March operation in about 120000 units.

Now, bitcoin and bitcoin cash (Bitcoin Cash) hash rate were 44973 hash/s and 1500 quadrillion quadrillion hash/s, which means that in March, the rate of hash bit machine accounted for the total rate of SHA265 mining algorithm based on Hash encryption currency network 3.6%.

Interestingly, mining market is quietly changing, due to the extra power of Southwest domestic hydropower station may produce electricity will be reduced to $0.037 per kilowatt hour, is bound to attract a large number of miners in the region into the pursuit of profit. Suppose, all bit using the latest AntMiner S11 machine (each hash rate can reach 19.5 trillion hash), then the deployment of 200000 devices means that will allow the mainland to get 3800 quadrillion bit hash operator.

 Have to dig the market turning point? Bit, 200 thousand game machine

According to Blockchain.info data show that the current bitcoin network hash rate is about 48000 quadrillion hash/s, if the above assumption is based on words of mining market, a bit ahead of the layout will make the whole network is 7.9%. Of course, at this stage can not determine the upcoming rainy season the bitcoin network hash rate will reach the number, but it is estimated that the mainland and other miners bit layout, the bit currency the whole network is likely to rise to 70 in quintillion hashes/s, the quintillion hashes/s higher than the historical high of 6070.

Now, the “egg” has been put into the basket.

In fact, once occupied an important part, the proprietary business income bit mining is no longer the scenery, only accounted for a fraction of their total income.

In September last year, according to the bit on the Hongkong stock exchange for the initial public offering (IPO) financial performance data disclosed that its 2017, self-employed business income accounted for has declined from 20.3% in 2015 to 7.9%, but after entering 2018, the share has shrunk by half again, only 3.3%.

At the same time, bit mainland business has become increasingly dependent on mining equipment sales, the 2017 vehicle sales revenue accounted for the proportion of total revenue increased from 78.6% in 2015 to 80.5% in the six months ended June 30, 2018, the share soared to 94.3% even.

However, encryption currency bear brought great influence to the continent bit performance, especially in the second half of last year this time. According to reports, bit no publicly available financial data, they in the third quarter of 2018 net loss amounted to $500 million.

At the same time, as of June 30, 2018, bit, has opened 11 mines in Sichuan and Inner Mongolia, new home, and “store” 200000 sets of mining equipment. Some of these mines for bit, independent mining, some will provide hosting services for other miners, and is separated from the mainland has independent operation bit field.

In addition, the bit, had also revealed that in July 2018 the mining hash rate is about 1692 quintillion hashes/s, roughly estimate it, then they should be deployed to run about 120000 mining equipment business.

How to evaluate the accuracy of analysts’ earnings forecasts? “Numerai” provides block chain solutions for $11 million financing

In March 21st, AI hedge fund and forecast the market start-up company Numerai announced on twitter, it’s the center of the data market Erasure has received a $11 million financing of ICO, Paradigm and Placeholder led.

Note that the Paradigm and Placeholder through the purchase of NMR, direct injection is the Erasure protocol, rather than the parent company. Numerai founder Craib said that the financing will be used to recruit engineers for Erasure, Erasure is Numerai to the center of the data market, the market will allow users to upload data to the IPFS network on stock prediction.

Public data shows, Paradigm by Coinbase co-founder Fred Ehrsam, Matt Huang, a former partner of Sequoia Capital, Pantera Capital Charles Noyes co founded former employees, has raised $400 million, the direction of investment include: encryption currency (ICO), early project chain and trading areas; Placeholder Ventures is focused on risk investment institutions the investment chain block technology, distributed information network, the company worked at USV Joel Joel Monegro and Chris Burniske led.

Numerai’s history can be traced back to 2015. Originally as a hedge fund was established, aimed at linkage analysts and hedge funds, which provide better ways to analyze sales data for hedge fund analysts, screening of high quality prediction, make better investment.

Imagine you were a period of study on Apple company, you predicted iPhone sales in Chinese will exceed expectations, Apple’s stock price will soar. Therefore, you may buy Apple shares. But the capital market is complicated, even if sales forecast for iPhone Chinese results may be completely correct, but may still lose money. Because there are also many risk factors, such as the dollar and the RMB exchange rate fluctuations, or the overall decline in the U.S. stock market, Apple shares also fell in may.

Compared to the decision not to buy Apple stock, and no effective information publicly available, will your forecast sold to a hedge fund might be a better choice. The hedge fund trading strategies to hedge market risk, currency risk and other risks, so as to get full value from the information. The individual transactions may be small and the expected return, volatility and risk. But you may predict in the diversification of hedge funds, low volatility in the portfolio can bring greater wealth effect.

But Craib believes that the current market forecast information, asymmetric information and pain points: the seller information trapped, because there is no molding market, also not to be able to assess the predictive quality of the system; the buyer cannot predict the quality of the information and the evaluation of the reliability of the identity of the seller.

In this regard, Numerai aims to provide a decentralized market data Erasure. The platform “Erasure” literally means “erase”, from George Orwell saying: “the past is gone, erasure forgotten lies a fact”. In Erasure, the user can advance about his stock market forecast data, the premise is that you need to add a time stamp for each upload forecast, similar to the proof of existence. The market will establish anyone can verify the track record, to ensure the authenticity and the invariance of each prediction.

The prediction data will be stored in the IPFS network, Craib Numerai quantitative model will be more than 10000 of global stock stock forecast data generated every day, all these data add to the Ethernet square can be very expensive, the data will be uploaded to IPFS, Erasure to achieve low cost storage for each data source. These Erasure will store the file address (called hash) is sent to the Ethernet square block chain to get timestamp. By submitting a IPFS hash to the Ethereum file, the forecast will receive time stamp.

In addition, the issue of Numerai ecological NMR in tokens, its role is to bet. In other words, the prediction and forecast information will need to buy tokens to bet, if the prediction was established, the seller won the bet token; if the prediction is proved to be false, the seller will lose the bet tokens.

However, even if the seller’s prediction accuracy rate reached more than 70%, the hedge fund will doubt the accuracy of forecast each time after all, including the seller, no one can really determine 100%. If the forecast error, buyers really need some recourse.

In this regard, Erasure set up a “griefing (pain)” option, the “1:10 pain coefficient” means, the buyer (hedge funds) $1 loss, can have the right to choose whether to destroy the seller’s $10 shares. With the development of market, the seller will be adjusted to show their pain factors, quality or fear. Some sellers may give 1:50 the pain coefficient on the expression of quality prediction confidence, while other sellers may give 1:1 to express the pain coefficient for fear of meeting overbearing buyers.

Craib said, Erasure announced in October 2018, plans to launch in late 2019. Once launched, Erasure will allow users to predict the sale to any investment fund in the public network. Although at this stage based on the predictive model of Numerai mainly concentrated in the traditional asset, but after the launch of Erasure, will be able to predict any assets. Numerai platform currently has 44000 registered users. Prior to this, Numerai has raised $7 million 500 thousand.

According to CoinMarketCap data, after the news, the Nomeraire token price was up nearly 19%.

Reference: “Numerai s Master Plan

An Unstoppable Predictions Marketplace Introducing Erasure –

The risk of the daily planet | Beijing gold association suggests “IEO and other illegal financial activities, the deployment of 200 thousand Taiwan; bit for bitcoin mining machine in high water period

The headlines

Beijing Gold Association issued a risk warning, directed IEO illegal public financing behavior

3 21, Beijing Gold Association released on the prevention of “virtual currency” “ICO” “STO” “stable currency” and other variants of the name of illegal financial activities, risk warning, alert criminals to IFO, IEO and other items issued or retrofit tokens, under the banner of “sharing economy”, “pass card the economy” and “crowdfunding” and “economic consensus” banner, in the way of IMO virtual currency speculation.

Digital currency

CME bitcoin futures contracts in February the average daily trading volume rose

According to the global encryption money market data provider CryptoCompare released a report, the Chicago Mercantile Exchange (CME) bitcoin futures average daily trading volume in January from $79 million 900 thousand to $98 million 900 thousand in February, and the Chicago Board Options Exchange (CBOE) of the bitcoin futures average daily trading volume from $8 million 100 thousand to $5 million 600 thousand in February.

The highest point is located in Wright currency nearly 90 days

According to Tokenview data show that in March 21st the whole network is bitcoin is 51.02 EH/s, Ethernet square, the whole network is 150.15 TH/s, Wright coins the whole network is 296.52 TH/s. Is Wright currency gained since the beginning of December 2018, currently located in the past 90 days the highest point, and is expected to exceed 342.88 in May 2018 the highest value of TH/s.

“Mt. Gox debt of about $623 million for the Department of misreading, the actual balance of cash

In March 21st, the media reported that the Mt. Gox second meeting of creditors documents show that the company debt of about $623 million”. The Odaily Mt. Gox in March 20th, the daily planet query publicity documents found, the actual number is Mt. Gox has confirmed that the balance of deposits, the details are as follows: data show that as of March 19th, deposits of Mt.Gox has been recognized for 69 billion 553 million yen (in accordance with the document when the exchange rate of about $628 million), compared with the first meeting of creditors (18 the year September) reduced to about 122 million yen. However, Mt.Gox has set up the trust as protecting the interests of creditors of the bankrupt measures, balance of about 15 billion 895 million yen (including the cost is expected to finance the trust) has been commissioned by the trust. Encryption of money balances, as of March 18th, Mt.Gox holds 141686.35 BTC and 142846.35 BCH, the trustee is still investigating whether Mt.Gox hold additional BTC. In March 20th, Mt. Gox’s update status: the court has determined that the need for compensation of 938476.2 BTC and BCH.

Block chain industry

The mainland will deploy 200 thousand bits for bitcoin mining machine in high water period

According to the province of Southwest Chinese, plans a bit familiar with mine operators said that the mainland will deploy about 200 thousand sets of bits of their mining equipment in the area, to use low-cost electricity generated by hydropower surplus in summer. The source said, although China in Southwest China (including Sichuan and Yunnan) of the rainy season will come in May, but a bit, has already begun with the mine to negotiate and conclude the transaction, so as to be fully prepared.

Facebook: the new team really explore more chain application block

Although the Facebook has yet to comment publicly on Bloomberg and New York Times had on its issuance of encryption currency report, but did admit that books are exploring distributed technology (DLT). Facebook Computerworld in response to a request for comment said: “like many other companies, Facebook is exploring ways to use block chain technology. Our small team is exploring new many different applications, but currently not disclosed more information”.

Cooperation in the development of electronic bill system of Agricultural Bank of China and the blockchain xiongan group

Cooperation in the development of electronic bill system of Agricultural Bank of China and the blockchain xiongan group, in support of the group in the blockchain fund management platform for the implementation of electronic bank acceptance for payment and settlement business, the whole chain of new projects, so as to realize the bidding management, payment and settlement, supply chain financing channel and other comprehensive financial service innovation.

Institute of financial science and technology ICT inventory of 2018 ten hot words, block chain are in the fields of application

In March 21st, China ICT Institute of financial science and technology inventory of 2018 ten hot words. Block chain in science and technology, supply chain finance, insurance supervision, financial fraud and technology of digital payment technology and other financial science and technology have been applied. For example, the supply chain finance, block chain through the encryption of data exchange based on ownership, certificate of deposit certificates, real transaction credit and sharing books based on Intelligent dismantling the implementation of the contract and so on, can effectively solve these pain points, power supply chain finance landing.

Facebook is the block chain business hire business consultant

In March 21st, according to Coindesk reports, Facebook hopes to hire a consultant for the commercial block chain initiatives. Facebook released a new job posting said, this position will be responsible for drafting and negotiating with block chain planning various contracts related, including the introduction of new products and the promotion of such products in the international partnership, advising clients on legal risk, business strategy and other business issues.

Report: the blockchain record prices of the average annual growth rate of 109.40%

Beijing Academy of smart city “2018 Chinese smart city development potential research report” proposed, although the blockchain relative artificial intelligence, big data, networking, cloud computing technology started late and the block chain technology start-ups with an annual growth rate of 109.40%, significantly higher than other digital technology start-ups growth rate. From 2013 to the first quarter of 2019, the number of events a total of 835 financing, financing amounted to 159 billion 293 million yuan. Among them, the 2018 block chain financing events were the peak in recent years, a total of 517 cases, financing amounted to 111 billion 297 million yuan.

“VNC robbers” attack warning, move enterprises encounter a variety of serial crit virus

3 21 April, Tencent see Royal Threat Intelligence Center found in remote management tools of VNC large range scanning detection, the attacker uses a weak password dictionary to run the VNC service machine for blasting connection. Blasting is successful, the group will run a variety of Trojan virus move in enterprise network, including GandCrab 5.2 extortion virus, Trojan horse, Monroe bitcoin mining digital currency wallet hijacking trojan is download and run, see Tencent imperial Threat Intelligence Center will be named “VNC the gang of robbers”.

Global policy

Montana. Sura county plans to regulate the encryption.

Montana. Sura county (Missoula) meeting will be held in 4 at the beginning of the month, to discuss the draft regulations recently issued the mining encryption, and plans to regulate the mining measures including encryption, encryption mining device must bring their own renewable energy, such as solar energy, wind power or geothermal etc.. The draft pointed out that encryption mining consumes a lot of energy, will affect the environment.

CFTC is trying to audit the Bakkt proposal

The Commodity Futures Trading Commission (CFTC) chairman Dan Berkovitz said the agency is stepping up efforts to audit the Bakkt proposal. Although he refused to provide the deadline for approval, but he said the agency is not anti encryption or anti block chain, the agency is committed to the encryption market from fraud and manipulation in the rescue, not to fight the new technology.

Figure – voice

Minsheng Bank Liao Beini: “domestic banking application of block chain technology is still in the stage of model optimization”

Researcher Liao Beini said Minsheng Bank Chinese Research Institute in an interview, the bank has some problems in the financial transformation of science and technology, such as technology application level is not enough, the application of domestic commercial banks to big data, artificial intelligence, block chain is still in the stage of simple pattern optimization, subversive innovation has not yet formed.

Wang Jianfeng: the future will be the national grid application block chain technology, unified data management and sensing device

National Grid Company Limited before the construction work in the pan held power networking deployment teleconference. The director of the Tianjin electric power network, the Ministry of Wang Jianfeng said, “in the future, we will deepen the” big “” clouds “” objects “and” shift “and” wisdom “, block chain, energy router technology, a breakthrough technology bottleneck, and strive in the practical information on the first breakthrough, network management platform and the construction of Pan data in Taiwan in the power, to achieve unified management of all data and sensor equipment.”

The former Danish Prime Minister to join the blockchain startups, as a strategic consultant

The former Danish Prime Minister, NATO Secretary General Anders Fogh Rasmussen has joined the blockchain startup Concordium, and served as a strategic consultant.

Tokyo court report: “Mentougou” debt for more than 2 trillion yen, insolvent

Author Qin Xiaofeng Zhang Huidong, |

| editor Lu Xiaoming

Beijing time on March 20th, Japan Tokyo District Court issued a “Mt Gox” the latest report (download).

Although Mt Gox has now entered the civil regeneration program, makes the procedure of bankruptcy may be suspended, creditors will receive priority compensation.

However, the daily planet Odaily found at Mt Gox, the total assets of 697.7 billion yen, 141686 BTC and 142846 BCH. The asset is far lower than the debtor and the court has approved the application amount of the amount of. In other words, Mt Gox will eventually become insolvent.

Asset status

1. cash assets

As of the 3 month 19 days to 2019 years, MtGox the account balance is 69 billion 550 million yen (these funds have been secured), reduced by about 122 million yen compared to 9 months for 2018 years 26 days “civil litigation regeneration of the first meeting of creditors”.

(balance sheet)

In the guarantee account balance, in order to protect the interests of creditors in bankruptcy cases, the trustee lawyer Kobayashi established trust funds, and will be 158.9 billion yen entrusted to the trust.

The daily planet Odialy note: in order to protect the creditor, the trustee Lin lawyer in 2018 to sell 25 thousand BTC and BCH, which is currently the main source of cash.

2. encryption assets

As of March 18, 2019, the company holds BTC MtGox regeneration for the number 141686.3, the number of BCH held for 142846.3. The regeneration of the trustee Kobayashi lawyer said, are still investigating whether MtGox also holds other encryption currency assets, once found will be transferred to the custody. The encryption of monetary assets, after will also become a source of debt to the regeneration of creditors.

3. related assets table interpretation

(Statistics of non exchange claims)

The so-called “non debt exchange”, which in addition to the “user to exchange currency or virtual currency exchange claims to return than debt.

At present, a total of 7 people apply for the “non exchange claims”, involving BTC, BCH and other kinds of encryption currency, equivalent to about 1 trillion and 760 billion 330 million yuan yen; the court finds that the approval of the creditor’s rights or legal tender for 3 million 710 thousand yen, accounting for about 0.02.

(exchange claims list)

The figure shows, a total of 23267 pieces of “exchange credit application”, 18767 of them through the online application, 4500 through offline application; application relates to BTC, BCH and other kinds of encryption currency, the total value of 901 billion 940 million yen; among them, the court finds that the approval of the total value of 685 billion 730 million yuan debt, accounting for 76%.

The emergence of a problem, what is the “admission rights”? “The so-called ‘admission claims’, namely after the creditors, the debtor (Mt Gox) he admitted the existence of creditor’s rights. “The lawyer Zhang Kai explained.

The “admission rights” as shown in the following table:

(admission claims table)

Summary:

The report shows that the balance sheet is shown as follows:

  • A total of 1167841.7 BTC for creditors, the court found 938476.2 BTC, accounting for 80.3%;

  • A total of 1363351.4 BCH for creditors, the court found 938476.2 BCH, accounting for 68.8%;

  • A total of creditors apply for other tokens (including currency) value of 1 trillion and 706 billion 620 million yen, the court found 10 billion 220 million yen, accounting for only 5/1000.

In addition, the Mt Gox of the total assets of 697.7 billion yen, 141686 BTC and 142846 BCH. In other words, even if all creditors are for the court, finally is insolvent.

(balance sheet)

(balance sheet)

MtGox other claims

Trustee Lin lawyers believe that MtGox holds some of the companies and individuals of creditor’s rights, so I want to put these claims back for MtGox.

The first is the parent company of MtGox TIBANNE ltd.. In 2015 years 5 months TIBANNE executive bankruptcy lawyers filed bankruptcy claims, Kobayashi, a total of 25841657102 yen). TIBANNE Taro Awataguchi company trustee in bankruptcy lawyer contested the claim, and in October 13th of that year made a claim assessment of application, the assessment is underway.

The two is the Robert Marie Mark Karpeles. In February 2017 Robert Marie Mark bankruptcy Karpeles, Lin lawyer filed a bankruptcy claim, a total of 25190162021 yen. At present, the bankruptcy procedure is still in progress.

It is worth noting that the March 15, 2019 Tokyo District Court issued a criminal judgment of Robert, the court ruled that he had no so-called guilty of embezzlement, and improper use of electronic records “in the crime and sentenced him to imprisonment in two years and six months, four years of probation.

The future schedule:

The report gives the next procedure schedule:

  • The exchange period: March 22, 2019 to March 29, 2019 survey claims;

  • Exchange credit acceptance, evaluation period: March 30, 2019 to May 7, 2019;

  • The proposal submission deadline: April 26, 2019

Because the case involves a number of countries the extremely large number of lawyers, Lin will be on the site (https://www.mtgox.com/) on the disclosure of creditors need more information about the case.