Block Weekly: Shen Nanpeng proposed a Hong Kong digital stable currency at the two sessions; PlusToken’s main culprit was prosecuted

On May 18, the Sichuan Provincial Department of Economics and Information Technology issued the "Notice of the Sichuan Provincial Department of Economics and Information Technology to Effectively Strengthen Power Dispatching and Operation Arrangements to Ensure Stable Power Supply in the Province". The content of the "Notice" mentioned that since May, the power load in Sichuan Province has increased significantly, with an average daily power consumption of 615 million kWh, a year-on-year increase of 22%. At the same time, the incoming water from all river basins in the province decreased by about 20% year-on-year, hydropower generation capacity decreased significantly, and thermal power generation increased by 110% year-on-year. The State Grid Sichuan Electric Power Company should combine the water regime and load forecast of each river basin to optimize power dispatching, ensure power supply, and strengthen joint reservoir dispatching.

According to the news from Rhythm BlockBeats, many miners have reported that some mines have shut down and waited for the wet season this year. Due to the current hot weather in Sichuan Province, the demand for civilian electricity has increased sharply, which has led to the transfer of electricity from some mines to ensure civilian electricity. Some mines have not started up after the migration during the wet season, and are still waiting for the electricity price during the wet season. And some mines that were still under load before have also been transferred away.

2. Investors filed a class action lawsuit against Block.one for the EOS ICO

On May 19, The Block reported that investors of the EOS ICO filed a class action against Block.one in the U.S. District Court for the Southern District of New York. Its CEO Brendan Blumer, CTO Daniel Larimer, cryptographer and former Block.One partner Ian Grigg, and former consultant Brock Pierce are all named as defendants. The plaintiffs allege that Block.one provided false and misleading information to investors about EOS in order to raise billions of dollars through an alleged unregistered securities sale. It is reported that a few months ago, after its ICO was investigated, Block.one paid a $24 million fine to the US Securities and Exchange Commission (SEC) and reached a settlement.

3. The country's first blockchain news editorial department was formally established

On the occasion of the upcoming National Two Sessions in 2020, the country's first blockchain news editorial department formed by 12 provincial-level mainstream new media as the first member units was officially established on the cloud on May 20. The national blockchain news editorial department is initiated and prepared by the Hubei Radio and Television Media Media News Center. Chongqing Radio and Television Group First Eye News, Henan Radio and Television Elephant News, Shandong Radio and Television Lightning News, Heilongjiang Radio and Television Aurora News, Tianjin Jinyun New Media Group Jinyun, Guangxi Daily Guangxi Yun, Yunnan Daily Yunbao News and other 12 provinces The city's mainstream new media was jointly established as the first batch of media units, and it is the first cloud news editorial department in the country.

4. The French central bank has completed the first test of the digital euro

According to Decrypt news, the Bank of France, the Bank of France, announced that it had completed the first test of the digital euro on May 14, and Société Générale also participated in the test. In the test, the Banque de France used internally developed blockchain technology to create digital securities representing euros.

According to news on May 21, the Plus Token large network MLM case reviewed and prosecuted by the People's Procuratorate of Jianhu County, Yancheng City, Jiangsu Province has made the latest progress. Zhou Moumou, the main suspect in the Plus Token extra-large online pyramid scheme case, actively publicized and promoted the Plus Token Wallet App through WeChat and other channels, and developed nearly 1.93 million offline members. public prosecution. According to the identification of the Judicial Appraisal Center, the defendant Zhou Moumou registered 4 accounts in the Plus Token Wallet App by phone, and developed a total of 1,929,575 members, involving a total amount of more than 14 million yuan.

6. The official forum of international monetary and financial institutions announced the establishment of the Digital Currency Research Institute

On May 22, according to Cointelegraph, the Official Forum of International Monetary and Financial Institutions (OMFIF) announced the establishment of the Digital Currency Research Institute, which aims to bridge the gap between digital currencies and traditional banks, and focus on payments in the wholesale and retail markets. tools and central bank digital currency (CBDC). Bhavin Patel, director of financial technology research at OMFIF, said, “We believe that in the coming years, there will be more central bank digital currency projects in many jurisdictions, including the euro area.”

7. Chengdu Financial Administration: Sichuan Digital Asset Trading Center has nothing to do with cryptocurrency and is not equivalent to a digital currency exchange

According to the news from Shenchao Finance and Economics on May 25, in response to the fact that Sichuan will promote the establishment of a digital asset trading center, the staff of the Chengdu Financial Supervision and Administration Bureau stated that the Sichuan Digital Asset Trading Center is a trading place for equity and will be based on data resources. With data product transactions and data services as the core, it provides data product sales, data value-added services, data financial services, training consulting services and product innovation services, covering a comprehensive service chain system integrating big data transactions and big data applications. At the same time, the staff also emphasized that the digital asset trading center has nothing to do with cryptocurrencies such as Bitcoin and cannot be equated with a digital currency exchange.

1. Sorting out the big events of Bitcoin, those things behind the skyrocketing and plummeting

Time is gone, the past is hard to return. From the birth of the original white paper to the successful completion of the third halving, Bitcoin has spanned more than ten years. During this period, many things happened around Bitcoin. There are countless small things that you and I have experienced, and there are also many big things that we have never participated in. This article will sort out the "big events" of Bitcoin from the aspects of technology, community, ecology, regulation and risk avoidance, and review the past together as a lesson for tomorrow.

2. Why ETH is irreplaceable: from the perspective of Ethereum economic bandwidth classification

This paper argues that not all economic bandwidth is of equal importance from the perspective of open finance development. Among them, ETH and BTC are completely trustless economic bandwidth, they have trustless issuance and trustless settlement. According to the two dimensions of issuance and trust, assets in three different quadrants can also be distinguished: bearer assets that must be trusted, legal trust assets, and national trust assets. But in the end, the best match for open finance is a completely trustless asset, which is why ETH is irreplaceable.

3. Bitcoin folding (recognition of QR code direct access)

At 3:23 on May 12, 2020, Bitcoin completed the third "halving", and the block reward was reduced from 12.5 BTC to 6.25 BTC. The four-year "Bitcoin Fold" attracts global attention, as if the gold reserves in the natural world have suddenly decreased. Why do "virtual" bitcoins have economic value? Why can it serve as a medium of exchange? Not only that, but why does it hold such a high value? People often compare Bitcoin to digital gold to express the value of Bitcoin. What is the basis for this statement?

4. Are "fat" protocols and "thin" applications the essence of blockchain?

The "fat" protocol theory believes that the protocol will capture most of the value, and because the application can reuse code at low cost, it will face fierce homogeneous competition, making it difficult to capture value. This article sorts out the "fat" protocol theory, and finally comes to a different result: the application is not always a vassal of the protocol, and the protocol may be more difficult to capture value than the application.

1. USDT: a peer-to-peer electronic cash system

In 2008, a paper "Bitcoin: A Peer-to-Peer Electronic Cash System" was published. In the following 12 years, Bitcoin carried the hope of this new payment method, but unfortunately it failed. Today, we have found its new replacement—USDT. There are indications that USDT is the new payment method, and USDT is the peer-to-peer electronic cash system.

2. What exactly is Shen Nanpeng's proposal for "developing cross-border digital stablecoins in Hong Kong"

Shen Nanpeng, a member of the National Committee of the Chinese People's Political Consultative Conference and global executive partner of Sequoia Capital, submitted five proposals in this year's two sessions, the most notable of which is the "Proposal on the Development of Cross-border Digital Stable Coins in Hong Kong". In the proposal, Shen Nanpeng believes that convenient cross-border trade payment and settlement services will promote economic and trade cooperation between China, Japan and South Korea, because trade is a key link in boosting the economy after the epidemic. This article takes you through the advantages of a regional digital stablecoin and gives you an in-depth look at the proposal.

3. Explain the valuation of encrypted assets: listen to HashKey to interpret the characteristics and limitations of popular cryptocurrency valuation models

How to reasonably value cryptocurrency assets is still a difficult problem. At present, the cryptocurrency market is still in its early stages of development, and each valuation model has flaws and limitations. The characteristics of different cryptocurrency projects and the factors affecting market value are different, and different models need to be used for analysis. There is no universal valuation model. This article will introduce the common valuation models of cryptocurrencies, including cost pricing method, transaction equation, NVT and Metcalfe's law, etc.