Block Weekly: The first application scenario of the central bank's digital currency is implemented; an in-depth analysis of the choice and persistence of Libra 2.0

1. G20: The world's major economies need to fill the regulatory gap to prevent digital currencies such as Libra from disrupting financial stability

On April 14, according to Reuters, the Group of 20 (G20) said that the world's major economies need to fill in the gaps in its regulatory playbook to prevent digital currencies such as Facebook's planned Libra (Libra) stable currency from undermining financial stability. The G20's Financial Stability Board (FSB) put forward 10 recommendations on Tuesday, proposing an international approach to regulating stablecoins.

2. Blockchain Report of China Mutual Finance Association: Be wary of technical dependence on foreign open source programs

On April 14, the China Internet Finance Association Blockchain Research Working Group released the "Research Report on China's Blockchain Financial Application and Development (2020)". The "Report" believes that the financial scene links and application logic applicable to my country's blockchain technology are relatively clear, but there are still risks in the application of the financial field: 1. It is still difficult to take into account the requirements of security, function and performance in some financial scenes at the technical level . 2. At the governance level, relevant arrangements such as supervision, standards, and talents need to be further improved. It is mentioned that the wide application of foreign open source programs may lead to technology dependence risks, and relevant parties of open source services such as code hosting platforms also need to abide by the laws and regulations of relevant jurisdictions such as the place of registration, which cannot be ignored under the background of rising trade protectionism. policy risk. 3. There are still ambiguities at the business level and lack of authoritative third-party evaluation for application innovation.

3. Ministry of Agriculture and Rural Affairs: Promote applications such as blockchain to improve the level of agricultural informatization

On April 15, the Ministry of Agriculture and Rural Affairs issued the "Guidelines for Social Capital Investment in Agriculture and Rural Areas". The "Guidelines" proposes to encourage social capital to participate in the construction of digital agriculture and digital villages, promote the application of agricultural remote sensing, Internet of Things, 5G, artificial intelligence, and blockchain, and improve the informatization level of agricultural production, rural governance, and social services.

4. Wyoming allows insurance companies to invest in cryptocurrencies

On April 16, according to a report by the US legal industry content aggregation platform Mondaq, Wyoming recently revised the state's insurance industry regulations to allow local insurance companies to invest in "digital assets". The new regulations will take effect on July 1 this year. The new regulation sets a precedent in the United States. According to the report, Wyoming law defines "digital assets" as "assets that exist in a computer-readable form and represent economic, ownership, or access rights, including consumer digital assets, digital securities, and virtual currencies." The state’s new rules include cryptocurrencies such as bitcoin and investment contracts, but not consumer digital assets, which are digital assets used for consumption, such as utility tokens that may be used to buy goods and services.

5. The Libra Association announced that it has formally applied for a payment license to the Swiss Financial Market Supervisory Authority

On April 16, according to LedgerInsights, the Libra Association announced that it has formally applied to the Swiss Financial Market Supervisory Authority (FINMA) for a payment license. Libra has released version 2.0 of its white paper, which will support single-currency stablecoins and abandon the transition to a permissionless system to meet regulatory requirements.

6. The first application scenario of the central bank's digital currency is implemented: it is issued in the form of transportation subsidies

On April 16, according to the Financial Associated Press, the Central Bank’s digital currency (DC/EP) will be distributed to employees of district-level agencies, institutions and directly affiliated enterprises in Xiangcheng District, Suzhou in May as a form of transportation subsidy. According to relevant documents obtained by the reporter, Xiangcheng District of Suzhou City requires employees of district administrative units to install digital wallets in April, and 50% of the transportation subsidies in their wages will be issued in the form of central bank digital currency in May.

7. Beijing: Carry out blockchain-based confirmation of government and state-owned enterprises' debt relationship with private enterprises throughout the city

On April 17, Beijing issued "Several Measures to Further Support Small, Medium and Micro Enterprises in Responding to the Impact of the Epidemic and Maintaining Steady Development" based on the previous "16 Measures for Supporting Micro, Small and Medium-sized Enterprises". Promote the pilot experience of the Haidian District Right Confirmation Center, give full play to the unified interface role of the Beijing Small and Micro Financial Services Platform, carry out blockchain-based confirmation of government and state-owned enterprises' debt relationship with private enterprises and promote supply chain financing throughout the city, and strengthen the confirmation of rights The center connects with the Beijing Small and Micro Financial Service Platform and the Zhongzheng Accounts Receivable Financing Service Platform, and strives to promote the annual accounts receivable financing of small, medium and micro enterprises to exceed 30 billion yuan.

8. The Digital Currency Research Institute of the People’s Bank of China: The DC/EP information transmitted on the Internet is the test content, which does not mean that the digital renminbi is officially issued

On April 17, the Digital Currency Research Institute of the People's Bank of China stated that the current online DC/EP information is the test content in the process of technology research and development, which does not mean that the digital renminbi is officially issued. The current closed test of digital renminbi will not affect the commercial operation of listed institutions, nor will it affect the renminbi issuance and circulation system, financial market and social economy outside the test environment. The People's Bank of China has been researching legal digital currency since 2014. At the end of 2017, with the approval of the State Council, the People's Bank of China organized some powerful commercial banks and relevant institutions to jointly carry out the research and development of the digital RMB system (DC/EP). It is understood that the current digital renminbi research and development work is advancing steadily. The digital renminbi system has basically completed top-level design, standard formulation, function research and development, and joint debugging and testing on the premise of adhering to two-tier operations, M0 substitution, and controllable anonymity. Based on the principles of stability, safety, controllability, innovation, and practicality, at the current stage, internal closed pilot tests will be conducted in Shenzhen, Suzhou, Xiongan, Chengdu, and future Winter Olympics scenes to continuously optimize and improve functions.

1. The official 100 million EOS will start to participate in node voting. How will it affect the EOS ecology? (Click on the picture to go directly)

Block.one plans to start participating in EOS voting in May 2020. Block.one will have an in-depth understanding of all BPs (Super Nodes) of the current main network in the next few weeks, and will vote for BPs based on their contribution/value. Why did Block.one decide to participate in node voting now? How will you vote? What impact will it have on the EOS ecology? This article will explore these issues.

2. Alethio's first quarter DeFi research report: DeFi future prospects under two rounds of death tests (click on the picture to go directly)

Recently, the DeFi market has suffered three consecutive hammers, each of which is a heavy hammer. The bZx incident, the Black Thursday incident on March 12, and the recent Lendf theft incident, the occurrence of each risk event has dealt a huge blow to the DeFi industry. With the successive outbreaks of DeFi risk events, the importance of insurance has become increasingly prominent. It is not only important for project parties, but also more important for boosting user confidence. This article is the first quarter research report on DeFi, and the DeFi insurance is also introduced at the end of the article.

3. Slow Mist: DeFi Platform Lendf.Me Hacked Details Analysis and Defense Suggestions (Click on the picture to go directly)

The well-known DeFi application lendf was attacked, which dealt a heavy blow to the development of DeFi. The well-known security team SlowMist analyzed the attack incident for the first time. For this attack incident, whether it is a DeFi user or not, it should be paid attention to. The impact may be more than many people expected.

4. HashKey: In-depth analysis of the choice and persistence of Libra 2.0 (click on the picture to go directly)

The Libra Association released White Paper 2.0 on April 16. Compared with the 1.0 version of the white paper and vision, some major changes have been made. Among them, Libra has shown the greatest goodwill to the regulators, but we believe that Libra's long-term vision has not changed, nor has it given up the idea of ​​becoming a financial infrastructure, and even has a more ambitious goal. This is the biggest difference between us and the market perception.

1. Analysis of the digital currency market in 2020: Professional digital currency hedge funds are popular, and investing in digital assets has become a trend (click the picture to go directly)

The purpose of this guide is to provide investors with important information about BTC and digital assets. As we move from the liquidity era to the diversification era, BTC, as an anti-inflation asset, is becoming an indispensable asset in a modern investment portfolio, and in the official recent emergency QE measures This feature will become more apparent.

2. The currency of Bitcoin and Ethereum: who can become the next world currency?

Over the past two years, the cryptocurrency industry has been undergoing a major cleansing, weeding out low-quality coins. Most of the altcoins failed to recover, and their all-time high prices plummeted by more than 90%. The market capitalization of BTC accounts for more than 60% of the total market capitalization, ranking first in the industry again. According to some, this is a clear sign that BTC is poised to become a non-fiat world currency. On the other hand, the rapidly developing Ethereum DeFi cannot be underestimated. This article will analyze two ways to achieve currency, and see who has a better chance of becoming the next world currency?

3. One picture to understand the "past life and present life" of the central bank's digital currency DCEP (click on the picture to go directly)

On April 15, it was reported on the Internet that the central bank's digital currency DCEP developed by the People's Bank of China has begun internal testing in the Agricultural Bank of China. A screenshot of the internal test wallet confirms the speculation that the central bank’s digital currency will be first tested and launched by the four major banks. For more ordinary users, what exactly is the central bank's digital currency? Will it replace the current payment tool? This article gives you a picture of the past and present of the central bank's digital currency.