Why 2020 is a turning point for blockchain development?
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(ID: coinvoice), author: Liang Xinjun, reproduced by Odaily with authorization.
On November 12, 2019, Mr. Liang Xinjun, the co-founder of Fosun Group, gave a speech in Singapore on "New Economic Momentum in the Next Twenty Years: Digital Economic Ecology Shaped by Mobile Internet Blockchain Power".
Why is it said that the year will be a turning point in the development of the blockchain? How can digital currencies solve asset management challenges? Where might the outlet of the blockchain be?
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01. What problems do big data, AI and blockchain solve?
Distributed commerce is a new frontier of commerce brought about by blockchain technology. In the distributed business world, all intermediary organizations will be replaced by automatic connection and execution of "mathematical algorithms", which greatly reduces the mutual trust cost of traditional business model transactions. The lower the marginal cost of trust, the larger the space and boundaries for commercial activities.
At this point, the sharing economy and cross-border transactions will become extremely easy.
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02. Why is it said that 2020 will be a turning year for the development of blockchain?
For the development of blockchain technology, this will be a year with favorable timing, favorable location and harmonious people.
Time:
2019 is the first year of 5G application and the starting point of the outbreak of the Internet of Things. At the same time, the Chinese central bank's digital currency is expected to be launched in 2020, and the US Libra will also be launched in a compromised version in 2020. This will greatly promote the popularization of digital currency.
Location:
Blockchain 3.0 technologies (cross-chain, sidechain, partitioning, sharding, etc.) can improve the performance of the blockchain, improve ease of use, operability, and scalability. Most of these technologies are expected to mature in 2020.
Renhe:
a. China has listed the blockchain as a national core competitiveness technology, and will greatly promote the commercial implementation of the blockchain in the form of multi-centralization and alliance chains
c. The financial system represented by JP Morgan Coin in the United States will realize a new generation of banking infrastructure (integration of payment, clearing and settlement) in the form of alliance chain
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03. What is the significance of blockchain technology?
a. Blockchain promotes economic upgrading to a programmable digital economy
From programmable currency to programmable finance, we can evolve to a programmable economy. This is the most valuable thing that blockchain brings us.
b. Blockchain technology makes the world more flat
Tokenization + smart account (blockchain account of the Internet of Things) The smart contract of the blockchain can smooth the gaps in laws, currencies, languages, and delivery executions between countries, regions, and economic systems.
Greatly reduce the trust cost between B2B and B2C, improve transaction speed, reduce transaction and resource sharing costs
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04. What is the economic momentum in the next 20 years?
It may be data assets and data economic ecology.
In the next 20 years, data assets will become the main driving force of economic growth.
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In a word, the lack of self-discipline and strong external constraints of government currency issuance is becoming a challenge for global asset management. The economic control standards of mainstream countries have greatly exceeded the constraints of the Maastricht Treaty, and the total government debt and fiscal deficit continue to run at high levels.
Chart: Total Government Debt as a % of GDP
Chart: National Fiscal Deficit as a % of GDP
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06. What are the disadvantages of MMT?
From 1913 to the present, the purchasing power of $100 at that time is only $3.87.
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07. What are the characteristics and development trends of digital currency?
According to the statistics of BlockChain.com, the number of Bitcoin user wallets has exceeded 43 million, and the number of Ethereum user addresses has exceeded 78.87 million.
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08. How to understand the value of digital currency?
The value of digital currency can be understood from the following perspectives.
POW mechanism: the mining machine pool replaces the equivalent return for the work of the computing center;
POS mechanism: After holding and staking cryptocurrency assets, get work rewards;
Other mechanisms: such as POW and POS mixed mechanisms, etc.: are all network rewards brought about by some kind of workload, capital, rights or resource payment.
Bitcoin is a great intermediary for storing locally and distributing cheap electricity globally. This is a digital form of exporting efficient power generation and "arbitrage" in areas with less efficient power generation.
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09. What is a stablecoin and what does it mean for the asset market?
Stablecoins are digital currencies with low volatility relative to fiat prices. Its value and importance to open up legal currency and traditional asset management to enter the encrypted asset market.
Both Libra and JPM Coin are stablecoins in the alliance chain system. Their launch will greatly promote the popularization of digital currency, providing a bridge for the public to enter the digital economy after conversion from legal currency, and in line with public living habits.
JPM Coin: A stablecoin whose value is tied to the US dollar. The deposit and withdrawal of funds between international financial institutions can use JPM Coin as the medium, and nodes such as JP Morgan will play the role of clearing banks on the Quorum alliance chain.
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All kinds of decentralized applications will flourish, but supervision will gradually be in place, anti-money laundering and other regulatory measures will be effectively implemented, traditional asset management will enter the data asset market, and gradually grasp the pricing power of the primary and secondary markets of blockchain projects .
11. What is a good blockchain project?
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An example of a good project can be given.
PlatON, one of the very few companies in Asia that focuses on the development of underlying and public chain technologies. The founder of PlatON, Xiao Feng, is not only a famous traditional financier, but also an entrepreneur of a successful financial group, and the most successful early-stage system investor and business incubator in the global blockchain.
