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How long can the wind of blockchain blow under tightening regulation?
How long can the wind of blockchain blow under tightening regulation?

How long can the wind of blockchain blow under tightening regulation?

In 2018, blockchain became the first windfall, and the heat was not lost to live quiz.

Since last year, in the case of digital currency prices have reached a record high, all kinds of entrepreneurship relying on blockchain technology has become increasingly red-hot. The intuitive manifestation in the capital market is that related stocks are sought after whenever they are tainted with the blockchain concept. This boom has spread from the U.S. stocks to A-shares, with some A-share companies announcing blockchain-related cooperation and research and development announcements, and subsequently reaping hikes.

This has also drawn the attention of the regulator.

On January 12, the Mutual Funds Association announced that consumers and investors were prompted to guard against disguised ICO activities, and consumers and investors were urged not to blindly follow the speculation.

On January 17, blockchain concept stocks collectively plunged due to the news that Shanghai and Shenzhen exchanges regulate blockchain speculation.

Recently, the Xinjing News reporter confirmed from informed sources that the Central Bank’s Camp Management Department’s “Notice on the Self-Inspection and Rectification of Payment Services for Illegal Virtual Currency Transactions.

Under the tightening of regulation, how long can the wind of blockchain still blow?

From the U.S. stock to the A-share, rubbing on the blockchain “take off”

At the beginning of 2018, the blockchain field news frequently. January 18, the CEO of the pat loan announced that the next three years for the wisdom of the financial research institute to inject 1 billion yuan of funds, involving blockchain research. Affected by the news, patronage rose on the same day before the US stock market.

The long-silent Renren has made headlines before. on Jan. 2, Renren shares rose 19.63%, and on Jan. 3 rose 47.39%, with the news of the veteran Internet company’s foray into blockchain behind the big jump. Renren released a white paper saying that it intends to provide an open source blockchain platform Renren Square for social networks, and to issue the virtual coin RRCoin. xinjing news reporter recently learned from the participating private equity that the project has been suspended.

The logic behind the rise and fall is the blockchain concept. starting in October 2017, the price of tokens represented by bitcoin soared, with the price of bitcoin rising more than 13 times in a year and the price of ethereum rising 130 times in a year.

The logic behind the rise and fall is the blockchain concept.

Under the wealth effect, the capital market reacted sharply, as the underlying technology of digital tokens, blockchain was concerned by all parties, mainly institutional investors, value investment in the U.S. stocks also “play” the concept of speculation.”

In December 2017, a U.S. beverage company called “Long Island Iced Tea” changed its name to “Long Island Bitcoin”, and the company’s share price rose three times; the old film company Kodak, after indicating its intention to enter the blockchain field. Kodak’s shares more than tripled in two trading days after it signaled its intention to enter the blockchain space.

Some SME stocks rose even more dramatically. Longfin, a U.S. SME financier, saw its shares soar 2,500% in two days after announcing the acquisition of a blockchain subsidiary; Net Element, which focuses on mobile payments in the U.S. and emerging markets, closed up more than 270% on the same day after announcing the launch of a business unit focused on blockchain technology; and The Crypto Co, whose share price rose more than 30 times in less than a month.

“dip” blockchain concept can rise, become an important feature of this round of U.S. stock blockchain concept hype.

After Xunlei announced the launch of the playmaker cloud, the stock price had risen nearly five times; in the network carrier line after the announcement and blockchain company cooperation, the stock price rose 700% in one trading day.” The

the hype tide from the U.S. stocks blew to the A-share. January 8, the A-share market blockchain concept hype, to the flush “blockchain concept” plate, for example, January 8 to January 12 week, the plate rose 13.29%, the plate leader a week rose more than 50%. In order to flush the “blockchain concept” plate calculation, there are currently 51 constituent stocks containing blockchain concept.

Some A-share companies began to publicly announce blockchain-related cooperation, research and development announcements, and subsequently reaped share price increases. There are also several company announcements to clarify the “scandal” between the company and the blockchain concept for reasons such as small performance contribution, not part of the scope of the consolidated statements, no direct business income, etc.

This movement has attracted the attention of regulators, and on January 16 the Shanghai and Shenzhen exchanges issued a late-night article saying that it would strengthen the supervision of the blockchain concept speculation, and criticized the “hotspot” Youjiu Game and Shangwin Global by name. The relevant concept shares fell, A shares blockchain speculation brake.

Qianhai open source chief economist Yang Delong believes that blockchain is a product of the development of Internet technology to a certain height, but also the current hype of one of the technical basis of digital currency. As a new technology, blockchain in the current A-share concept board is not too many pure concept stocks, most stocks are only a little edge, almost no “leading stocks”. Investors should not blindly superstitious and heavy position.

venture capital influx, there are projects from “begging for funds” to “being funds begging”

a fact is that blockchain technology has become the new investment windfall.

On January 9, Xu Xiaoping called on portfolio companies to embrace the blockchain revolution and learn about blockchain technology inside of Zenith. Xu Xiaoping said to All in blockchain, he suggested that the major entrepreneurs, while standing their own business, to understand the blockchain, understand the ICO, and enter the blockchain era. Do not have doubts and hesitations about blockchain, and immediately mobilize all employees to embrace blockchain.

According to domestic VC-related sources, within the last half month, well-known investors in the VC circle have basically reached a consensus through mutual communication and learning: blockchain is a great technology that will really change the world.

venture capital is already running into the field. The person introduced that some invested projects have been converted from “begging for funds” to “being begged for funds”, and some venture capital fundsIt is hoped that quality projects will be given a certain amount of money. “This was unimaginable a month ago.”

evolution capital founding partner Gao Wenshi said, from our point of view, blockchain is the windfall of the future.

overseas venture capitalists are also increasing their blockchain investments. “In 2018, we will double our bets on blockchain technology,” said Jill Beyda, managing director of well-known VC Comcast Ventures, according to media reports.”

Yang Tao, assistant director of the Institute of Finance at the Chinese Academy of Social Sciences, believes that the explosion of blockchain is not sudden, but a new technology and institutional exploration born out of the historical evolution of economic financial centering and decentralization.

Public information shows that blockchain technology has received attention from international organizations and national governments.

The International Monetary Fund has pointed out in its digital currency report that blockchain has “the potential to transform finance”. The UK government’s “Distributed Ledger Technology: Beyond Blockchain” suggests that priority will be given to the application of blockchain technology in the traditional financial sector.

The White Paper on the Development of Blockchain Technology and Applications in China, released in 2016, suggests that the advanced practices of developed countries and regions can be drawn upon, and that blockchain technology and industrial development support policies can be introduced in a timely manner, taking into account the development of blockchain technology and applications in China.

Yao Yu Dong, director of the Institute of Finance of the People’s Bank of China, previously said that blockchain is one of the most cutting-edge innovations in the current field of computer application technology and a major technology that is most likely to subvert the entire financial system’s mode of operation in the next few decades. Currently domestic and foreign research institutions and financial institutions are scrambling to seize the innovation opportunity, a systematic innovation based on blockchain technology is kicking off the curtain, the future may form a more obvious technical barriers to latecomers.

blockchain project or “air”? There is no widespread use of

from the public information, some companies have begun to embark on the research and development of blockchain technology.

Domestically, Ping An of China joined the R3 blockchain alliance, Wanxiang set up a blockchain lab, and the Internet Finance Association of China has set up a blockchain research working group. Internet giants, including Baidu, Ali and Tencent, have been involved in the research and development of blockchain technology.

Xiao Lei, president of the 500 Gold Research Institute, believes that blockchain will certainly bring fundamental and organizational reorganization to the Internet or other forms of business, because it can make more business transaction costs lower and credit costs also become lower, promoting a step up in the efficiency of the entire economy and society.

Blockchain technology has many advantages, but it is not perfect. The research report of CITIC Securities points out that blockchain technology may need to face four major problems: the problem of high energy consumption; the problem of database storage space; the problem of stress resistance in handling large-scale transactions; and the problem of security. The above problems need to be solved in future practice.

According to incomplete statistics from the Xinjing News, there are close to hundreds of blockchain projects being carried out in China.

From the point of view of blockchain applications, the projects engaged in the construction of the underlying technology and “infrastructure” are NEO, Quantum Chain and Ethereum, which are similar to the operating system of a computer and serve as a platform for blockchain application development. There are more projects engaged in general application, covering fast computing, smart contracts, information security, data services, etc. The representative companies include Lightning Network, Secret Ape Technology, Everything Chain, Baidu BaaS, etc.

At present, the exploration of blockchain projects in the financial field is mainly focused on payment, real estate finance, corporate finance, insurance, asset management, bill finance and other fields. Banks including China UnionPay, China Merchants, Minsheng and other banks and technology giants including Ant Blockchain and Zhongan Technology have started to lay out and land the corresponding platforms and projects.

In addition, entertainment, social and logistics aspects are also involved in blockchain startups.

Blockchain pencil founder Gong Ming believes that many attempts of blockchain projects will, I’m afraid, completely overturn the thinking of some traditional business models. However, several blockchain practitioners said that no blockchain projects are widely used or deployed yet.

A research report by Qian Jinyu of Galaxy Securities believes that many startups are currently throwing themselves into the wave of blockchain product ventures and have made some achievements in finance, logistics and other fields. However, the products based on blockchain technology are still some distance away from full maturity.” This includes the purchase of bitcoin, ethereum and other types of tokens.

Chen Cheng (a pseudonym) is a post-90s, during his junior year of college contact bitcoin and other digital tokens, in the September 2017 ICO regulation, because the position is too heavy, did not withdraw in time, heavy losses.

In October 2017, Chen Cheng had told reporters, has emptied his hands of all the digital tokens, including bitcoin, ethereum, “in September to lose all the money previously earned, and never touch digital currency again.”

However, after this year’s New Year’s Day, Chen Cheng’s WeChat circle of friends began to update his views on digital currency again, just 3 months after leaving the field, Chen Cheng returned to the field to speculate on coins.

In September 2017, under the joint supervision of the central bank and other seven ministries, the domestic ICO was completely called off, including the exchange of firecoin network, OKcoin coin bank was shut down, bitcoin class of virtual coins in China encountered strong regulation.

Many industry voices believe that the virtual coin winter has arrived. He said an industry insider said it would take about two or three years for the cryptocurrency world to recover. The focus of bitcoin trading shifted to overseas markets.

Starting last October, the price of virtual coins represented by bitcoin soared. Until now, the industry has not reached a consensus on the reason for this round of coin price increase, and the statements of shrinking trading plates, bitcoin big players speculating high, and financial institutions entering had all spread within the coin circle. Previously 20,000 yuan a bitcoin, the highest rose to 140,000 yuan.

The money-making effect is increasing the number of players entering the digital token market.

2017The trading platform of blockchain assets, coinanet, which was established in July 2017, officially claimed that on December 20, 2017, the users of coinanet broke through 2 million, and just three weeks later, on January 10, 2018, it claimed that the users had broken through 5 million and the 24-hour turnover amount broke through 10 billion U.S. dollars. 7 days later, the company claimed that the users had broken through 6 million.

a personal column specializing in digital token market analysis, in September and October last year, the reading volume once fell below 10,000, after the market surge in November and December, the current reading volume is stable at about 30,000.

However, to meet the new players and returning players is a “Christmas plunge”, after Christmas, the mainstream tokens fell 30% across the board, some digital tokens almost cut. As of the morning of January 22, the price of bitcoin was around 74,000 yuan, compared to the highest a month ago, the price of the coin was cut by more than 50%.

Wang Cheng (a pseudonym) was introduced by a friend and joined the coin speculation army in December last year. By speculating on Litecoin and Ether, Wang Cheng doubled his capital of 100,000 yuan within a week.” The

But the good times don’t last long, in the market crash in early January, Wang Cheng floated a loss of 70,000 yuan in one night.

“can not sleep, unless the position is cleared before going to bed.” Wang Cheng said, currently intends to lock position long term, or do medium-term trend.

For the reason that up and down, Wang Cheng believes that overseas and domestic regulatory policies have a greater impact on the trend of the coin price, recently South Korea has increased the regulation of the bitcoin exchange, bitcoin and other token prices fell. Market sentiment also has a large impact on coin prices. The recent U.S. government shutdown saw bitcoin prices rise 8% at one point.

Because the token trading market has no up or down restrictions, T+0, 7 days 24 hours trading, plus the trading platform provides high leverage services, the coin price is prone to large amplitude. The actual

is a very good way to get the most out of your life. The

regulatory tightening, IMO was “sounding the alarm”

after the central bank and other seven ministries jointly issued a notice warning the risk of token issuance financing, January 12 this year, the Chinese Internet Financial Association to risk alert.

Mutual fund association in the “risk tips on preventing disguised ICO activities” pointed out that, as ICO projects around the gradual completion of the withdrawal, to issue Xunlei “chain gram” (formerly known as “playmaker coin”) as a representative, a kind of named The model of “issuing virtual digital assets with a mining machine as the core” (IMO) is worthy of caution, and there are risks and hidden dangers. The Mutual Fund Association calls for the IMO model and all kinds of ICO and “virtual currency” trading venue services for domestic residents through the deployment of offshore servers, found to be involved in illegal financial activities, can be reported to the relevant regulatory authorities or Mutual Fund Association, of which suspected of illegal crime, can be reported to the public security authorities.

On the evening of January 16, the Shenzhen Stock Exchange said that some listed companies recently released information involving the blockchain concept through announcements and interactive eases, and some companies’ share prices rose. The Shenzhen Stock Exchange took supervisory measures such as asking questions, concerns and requesting suspension of trading for verification for 17 companies. The SSE also issued a text that night prompting the risk of blockchain speculation, the SSE’s overall judgment, “blockchain” technology is still in the development stage, it is still difficult to form a stable business, the concept of speculation signs are more obvious.

Recently, a notice titled “Notice on the Self-checking and rectification of payment services for illegal virtual currency transactions” was circulated among the public, and the Xinjing News reporter got confirmation from informed sources. The Notice requires that payment institutions within the jurisdiction carry out self-examination and rectification work, strictly prohibit the provision of services for virtual currency transactions, and take effective measures to prevent payment channels from being used for virtual currency transactions.

China Science and Technology Finance Legal Research Society director, Dacheng Law Firm partner Xiao Za lawyer, according to the “Notice on Preventing the Risk of Token Issuance and Financing”, token issuance is considered a “financing” behavior, its core purpose is to finance the main body through the illegal sale and circulation of tokens, to The core purpose is to raise bitcoin and other so-called “virtual currency” from investors through the illegal sale and circulation of tokens, which is essentially an unapproved act of illegal public financing, suspected of illegal sale of tokens, illegal issuance of securities and illegal fund-raising, financial fraud, pyramid schemes and other illegal criminal activities.” The company is also in the process of upgrading its overseas regulation, as one of the major trading regions of Bitcoin, South Korea’s finance minister Kim Dong-yeon said that “closing cryptocurrency exchanges is still one of the options”. The Financial Services Commission said on January 18 that it was studying a bill to shut down digital currency transactions that are illegal, and that it would carefully weigh whether to shut down all exchanges.

In addition, recently German central bank governor Ulmering said the regulation of cryptocurrencies needs to be globalized, while European Securities and Markets Authority chairman Maijoor said cryptocurrencies are not suitable as circulating currencies.

A new round of regulation is coming and has become a common message in coin speculation discussion groups. Some speculators said they will lower their positions, while others said they will lock their positions and wait for market changes.

Blockchain and related concepts

● Blockchain is essentially a decentralized, distributed database. Blockchain has two core properties, 1. decentralization. 2. data is not tamperable.

● Blockchain is the core technology of Bitcoin and is the underlying technology of ICO projects. ICO is a financing method, Bitcoin can be used to invest in ICOs, and the tokens generated by blockchain are the right credentials.

● Bitcoin is currently the best known virtual currency with the highest market share, featuring decentralized, non-tamperable transaction records and a constant total of 21 million.

●Tokens, in all kinds of entrepreneurial projects under the name of “blockchain”, tokens are used in the project either as payment or as a reward for participants to keep the project running, and in a few projects, tokens are even directly regarded as “equity” in the project. In a few projects, tokens are even considered as project “equity”. In the current secondary market of the cryptocurrency circle, speculators are speculating on the tokens of various projects, and the “value” of the project is often reflected in the coin price of the project.

● ICO (Initial Public Crypto Token Offering) is essentially a financing act in which the project leader issues crypto tokens to unspecified investors for the purpose of financing the project.

collation: Wang Quanhao Xinjing News reporter 王全浩

王凤枝 本文来源:新京报 责任編輯:王凤枝_NT2541