On August 17, 2016, the “2016 China Blockchain Industry Investment High-end Forum†was held in Shenzhen Futian. The forum focused on the theme of “blockchain industry development trends and investment opportunitiesâ€. The technology and application of blockchain have been discussed at home and abroad. However, behind various hype and investment data, what is the status of blockchain development in China? Because of its unchangeable features, distributed super ledgers, and decentralized features, Bitcoin's underlying technology blockchain has received extensive attention in the areas of financial transactions and energy management. Such fiery investment and financing, however, the application of blockchain in reality is still relatively small. The CEO of a blockchain crowdfunding startup company stated that the development of China's blockchain technology lags behind that of foreign countries for half a year. It can be said that there is not much difference, but it can be said at home and abroad that the early stage can be said. He pointed out that issues such as true transaction speed, privacy protection, security, etc. are still lacking. “If there is a certain degree of difficulty in terms of the application level, we must first put the entire technology in the previous period. The platform is well established." According to his practical experience, he said that in particular the focus of the bill transaction and supply chain finance, it will take about 1 to 2 years before it can blossom in this field. From 2015 onwards, most of the blockchain information we obtain is about the progress of foreign projects, and the real starting point in the country may have to start with the actions of some major financial institutions. According to reports, Wanxiang Group, which is based in Shanghai's Lujiazui, set up the first blockchain research laboratory in China last year. In response, Babbitt CEO Langyu stated that from the point of view of the process, China actually started from the end of 2015. In the field of blockchain entrepreneurship, the exploration has been truly fruitful for only six months. He said “There are also some capitals or VCs that are very interested in the blockchain, but I think they are still in a bit of anxious situation. They think that to invest in this thing, it may be reflected or landed within a few months, but In the current situation, I don't think it's possible. It's a bit unrealistic. We need to constantly polish our technology and our business." This is a fact. Lian Capital Partners, a professor at the Chinese University of Hong Kong, speaking of the blockchain investment and incubation, said that the current lack of application and investment recovery may only be a time lag, but we expect that we will continue in the coming months. See all kinds of applications come out. Professor Lausin admitted that his investment also tends to have a technical threshold. Well, in that case, will we welcome the bubble or the flowers in the next few months? At the capital market level, whether the blockchain is in the conceptual stage or when everyone has a substantial movement is also somewhat confusing. According to the latest report of China Merchants Securities, we can understand: First, the central bank held a seminar on January 20 this year. The central bank governor Zhou Xiaochuan said in an interview that digital currency and cash will exist for a long time and gradually replace cash. In addition, the digital currency will be used as a legal currency, issued by the central bank and safeguarded. The central bank’s digital currency may use blockchain technology. Domestic financial companies, such as Ping An and AIA, have joined the R3 alliance. Securities institutions, funds, banks, equity trading centers and other financial institutions established the Golden Chain Alliance with Hang Seng and Shenzhen Tong. The research team of the China Internet Finance Association’s establishment of a blockchain was launched on June 15 this year. Wanxiang Holdings has invested in 23 blockchain companies globally. The core list of participating companies is financial companies. The Ministry of Industry and Information Technology collaborated with Weizhong, Wanxiang, Letv Finance, Ping An and Ant to form a coalition of five major authoritative departments including the People's Bank Technology Department, the Ministry of Commerce's Electronic Commerce and Information Technology Department, and the Ministry of Agriculture Information Center to promote the standardization of blockchains. Develop. Because of this, senior analyst Tang Shuning of China Merchants Securities said that the domestic capital market level moves frequently and blockchain technology is expected to increase rapidly. In the direction of many application developments, the financial industry is likely to become the fastest-growing sector in all areas due to its urgent needs and strong financial strength. At this blockchain industry forum, Senior Investment Analyst Tang Xining quoted the company’s latest blockchain report, saying that the attention of the capital market to the blockchain has gradually increased. After undergoing a severe decline in 2015, The investment in the blockchain sector has rebounded sharply, but most of them are concentrated in the early stage and there is a huge room for domestic rise. According to CoinDesk's statistics, in the first quarter of 2016, the total volume of venture capital in the blockchain sector reached US$160 million, a 515% increase from the fourth quarter of 2015. The average trading volume of venture capital was 11.4 million U.S. dollars, an increase of 338% from the fourth quarter of last year. In addition, THEDAO's ongoing blockchain crowdfunding project has raised more than US$100 million in funds... Various events have shown that the capital market's increasing attention to the blockchain has shown good momentum. In addition, according to statistics, from 2013 to the present, a total of 186 financing and mergers and acquisitions occurred, but only 5 of them reached the C-round financing, and the geographical distribution of investment is relatively concentrated in the US Silicon Valley. Therefore, in terms of the stage of development of the entire industry or geographical factors, the blockchain field in China has huge room for improvement. Tang Yuning said, “We believe that the financial industry has become the first place in the application of blockchain applications.†It is reported that blockchain projects in the domestic primary market in the financial sector have mushroomed and the huge space in financial markets has attracted a lot of capital. Enter the "blockchain + finance" field. Tang Xiaoning explained that "if the Internet is to achieve financial "open source" for financial industry revenue, the blockchain is expected to make the financial industry significantly reduce costs and increase efficiency, bringing about 'throttle' effect." Indeed, according to Goldman Sachs predicts that blockchains can simplify the clearing and settlement of securities, saving US$2 billion in U.S. capital markets annually and saving US$6 billion in global capital markets. In addition, according to a study by Santander, Spain, blockchain technology can save the banking industry from US$15 billion to US$20 billion per year by reducing the cost of cross-border payments, securities transactions and compliance. "So we judge that finance is expected to be the first place in the blockchain industry." For the application and development direction of the blockchain , relevant reports have been published by Lei Fengnet (searching for the "Lei Feng Net" public number concerned) . In general, the areas affected by the blockchain can be divided into fund end, asset end and non-fund end, according to the summary of the involved objects and fields according to the summary of Bai Shuo, the chief engineer of the Chinese Academy of Sciences and former Shanghai Stock Exchange. Corresponds to values ​​and credits other than currency. Bai Shuo said that the most fundamental breakthrough in the blockchain is value transmission. "Unchangeable, irrevocable, non-repudiable, non-counterfeit, and other features are not directly related to finance. They are general security features. Financial involvement is not reproducible and cannot be overdrawn." With such advantages, from the point of view of the technological system and its subsequent development, especially when these technical systems act on the traditional financial sector, its beautiful future is also destined to meet certain challenges. Bai Shuo concludes that the first aspect of the blockchain challenge is security, including the privilege, privacy, and automation of contracts as determined by laws and regulations. China Merchants Securities Tang Xiaoning also stated that blockchains have many disadvantages in addition to their advantages. For example, they have a security risk of 51% attack. When a certain group of people or an organization can grasp the security of computing resources in the entire market, It can crack the entire blockchain resource. The so-called privilege is that within the legal framework, the judiciary has the power to freeze assets, and the supervisory authority has the right to see through the transaction data. For the exchange, the law also grants it a suspension, suspension, and cancellation of public transactions. There are registration and settlement, temporary settlement or refusal to settle, and these privileges are not yet available in the blockchain system developed from the people. Therefore, Bai Shuo said that the important task now is to place these privileges in the blockchain system. In addition, because of the anonymous nature of the blockchain, people will feel that the privacy of the technology is good, but it is not. In fact, Bai Shuo pointed out that the blockchain has no relevant protection for the content, and the content is quite transparent. Privacy protection also depends on the cryptographic high-tech landing, including zero-knowledge proofs, ring signatures, homomorphic encryption, and settings that are one level higher than the bottom layer. Finally , although the automation of contracts is a fairly new thing, due to the fact that the surrounding ecology has not kept pace, the development of smart contracts has not yet brought about the expected results and has caused very large divisions. As for performance, according to statistics, the current blockchain product can achieve 3000 pens per second on the chain, while the chain is 50,000 pens per second. Bai Shuo also pointed out that if Bitcoin's throughput rate can be increased from the current 7 per second per second to 100,000 per second, and storage will be developed from the full amount to the snapshot, then it can be regarded as consistent with its expected value to be realized. performance. As the industry figures mentioned before, our current important task is to polish the technology and platform and lay a solid foundation for the development of the blockchain. In his speech, Bai Shuo also put forward a piece of advice. He said: " The leaders at various levels and the investors present may hear different arguments about the blockchain from different channels. We cannot say that these statements are wrong, but since the time may be early, and the blockchain technology is also improving, If you accept the information in the earlier period, I hope you can refresh it in time. "With the drive of different interests and motives at different times, there is always a collision between the output of the industry and the contact information. As Bai Shuo puts it, "non-essential information is variable, and what is truly invariable is conservation and non-overdraft." †Glass Metal Sealed Cap Glass Metal Sealed Cap YANGZHOU POSITIONING TECH CO., LTD. , https://www.yzpst.com
Prevent investment overheating, and technology is not realistic in the short term
