NEO founder Da Hongfei: Centralized exchanges are not the ultimate form
On March 28, 2018, the author held a blockchain summit in Shenzhen with the theme of "'district' moving the future, no delay in krypton". The meeting invited a number of investment, technology, and legal guests from the blockchain industry to share their wonderful views on the policy supervision, top-level design, technical prospects and industry self-discipline of the blockchain industry.
NEO founder Da Hongfei
NEO founder Da Hongfei
He believes that digitalization can be used to realize the intelligence of the economy, save social resources and improve the efficiency of social operations. The centralized exchange will be subverted by the decentralized exchange, and the financial risk will be entrusted to individuals.
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Digital economy saves cost and improves efficiency
At present, in economic transactions, in order to guarantee the formation of contracts, trust needs to be established, and people pay a lot of fees to lawyers, accountants, auditors and law enforcement agencies.
Da Hongfei believes that this problem can be solved by digitizing economic activities.
All transaction activities can be transformed into digital forms, including the legal digital currency issued by the central bank, other assets, and even the identity of people and organizations, as well as the IDs of IoT devices and IOT devices.
Once all objects can be expressed digitally, society as a whole will enter a state of programmable economy. In such an economic system, blockchain technology can use open source codes to conduct economic activities in an open, transparent and objective manner. The formulation of various rules can be audited and traced.
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Centralized exchanges will be disrupted
Da Hongfei said that the exchange is a very unstable business, and the centralized exchange may not be the ultimate form in the future.
At present, China's Shanghai Stock Exchange and Shenzhen Stock Exchange are only transaction-matching institutions. All bond and bond registrations are completed in custodian institutions such as China Securities Regulatory Commission. In fact, risks are isolated. Therefore, the exchanges do not have any moral risks. . The blockchain will have subversive changes to transactions and exchanges. The distributed and decentralized form of transactions will completely entrust the risk of financial custody to individuals, and people no longer need centralized exchanges.
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Future competition is the competition of technology, ecosystem and governance model
With more and more players on the track, the competition situation in the industry will become more complex, including competition with international counterparts and competition among other blockchain projects.
Da Hongfei believes that competition will take place in three dimensions: technology, ecosystem, and governance model. Especially in the governance model, compliance is the key.
Compliance can firstly eliminate some uncertainties in supervision; secondly, it can reduce fraud, Ponzi schemes, and market price operations, and also allow mainstream financial institutions to legally participate in this field; finally, compliance can enable enterprises to use regional Blockchain technology develops the real economy.
