Blockchain: How many misunderstood, how big is the bubble

Bitcoin, Litecoin, etheric money ... Digital currency, which has been extremely hot since last year, has a common technology at the bottom: the blockchain. Many people think that the blockchain is not important, and what matters is its subversive value By the way, speculation prevails, how blockchain really takes its place, and is left behind.

What is the blockchain? What value?

As early as a few years ago, Schwab, the founder of the Davos Forum, believed that blockchain technology was one of the representative achievements of the Fourth Industrial Revolution. 'This is a disruptive technology. Both the geeks and the banking industry Excited about that.

Blockchain technology is a collection of multiple technologies underlying the Internet, including technologies such as P2P communication protocol, distributed storage database technology, encryption algorithm and consensus algorithm. Through the integration of these technologies, a time series and block records Data model. All data in all nodes back up the database structure, to achieve decentralized, point-to-point transmission, transparent, traceable, can not be tampered with, data security and credit self-established features. With these advantages, blockchain technology more and more The more they are valued by the international community.

In recognition of the potential of blockchain, countries have to speed up the pace of layout.US DHS subsidized 6 companies committed to the development and application of the government blockchain; the French Ministry of Finance has announced that it will allow the trading of some unlisted securities Using blockchain technology, the first of its kind in Europe; Belarusian President Alexander Lukashenko signed the 'super liberalism' bill in favor of blockchain and cryptocurrency.

While the major economies in the world and major international organizations have expedited the deployment of blockchain technology, financial institutions, Internet companies, IT companies and manufacturing enterprises in our country are also making active preparations for entry. According to the statistics, the relevant blockchain-related public companies in China have increased To about 30.

CICC experts believe that as an important infrastructure for the development of financial science and technology, the application of the blockchain is worth looking forward to. The future can be used for digital currency and financial institutions to transform payment, settlement, transactions and other scenarios, while reducing costs and reduce risk CITIC Securities said that the blockchain technology is currently in the accumulation stage of the learning curve, looking forward to the application of the outbreak level landing.

Hype hoarding speculation application landed

With bitcoin soaring, many people confuse bitcoin with the blockchain, said Chen Haifeng, deputy director of the Big Data Institute at Zhuhai Institute of Beijing Institute of Technology, who has blockchain technology behind digital currencies such as bitcoin And can not draw an equal sign.

Half Reporters study found that around the blockchain technology, the industry there is a strong speculation style, the long run is not conducive to the practical application of the technology promotion.

On November 13, 2017, Pingshan Tea, a listed company in Hong Kong stock market, issued a public notice to change the company's original name "Pingshan Tea Group Co., Ltd." to "Blockchain Group Co., Ltd.". Since the Company's main business has not obviously involved in the blockchain business yet, However, there is a certain increase in the stock price.

More and more businesses are starting to get hot with Bitcoin, which is not limited to the simple addition of company name to 'bitcoin' or 'blockchain' In a bit of a relationship, the company is likely to melt into large sums of money and quickly raise its value, a sign of proliferation of such unhealthy tendencies.

Part of the non-orthodox application of 'suck gold' highlights the energy, forming a negative demonstration effect.While the practical application of blockchain is pushing hard, some virtual applications show huge 'sucking gold' energy. Into 'earn quick money', further affecting the actual application of the start.

Recently, a social game based on Ethereum Block's blockbuster cats and dogs has been rapidly gaining popularity both at home and abroad. The game has only been launched for more than a month. The accumulated turnover has reached nearly 10 million U.S. dollars. The most expensive cat, Due to the rarity of the species actually sold over $ 100,000 high price.The researchers said the original intention of the development of this game is to allow users to better understand the blockchain technology, but in the promotion has been the operator bias.

Application first, to seize the high ground

Li Jingnan, vice chairman of China's blockchain eco-union, believes that the core behind the blockchain changes in the world is its openness, openness and transparency. It uses technical means to solve the trust issue.

China has released the first blockchain standard in the country in the first half of 2017, which lays a solid foundation for our country to seize the international first chance. Based on the "13th Five-Year Plan for National Informatization", experts suggest to refine Blockchain technology development path, a clear specific force points, tackling key areas, the direction of the target at the same time, take measures to simultaneously hold the hype of the wind.

Experts believe that blockchain technology will be the key underlying infrastructure for Internet finance and the entire financial industry. Take the securities market as an example, securities trading needs to be completed through the coordination of the four major agencies of central clearing houses, banks, securities companies and exchanges , Low efficiency, high cost and easy to create a strong intermediary.Blockchain technology can solve these problems, such as to promote its first test in this area, the water, in visible and tangible applications flowering results , Fully demonstrate the technical advantages of blockchain, will form a demonstration effect.

In addition, the government can also promote the research and application of enterprise-level blockchain through certain policy support and encouragement.Before the blockchain application that is not significant in business efficiency but beneficial to society, it can be explored by purchasing public service.For example, The government can apply blockchain technology to such public areas as love donation and online loan as an attempt to solve the problem of transparency and trust and reduce industry risks.

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