Editor's Note: This article comes fromInterchain Pulse (ID: HiveEcon), Author: Interlink Pulse·Black Pearl, reprinted by Odaily with authorization.

Editor's Note: This article comes from

Interchain Pulse (ID: HiveEcon)

Interchain Pulse (ID: HiveEcon)

, Author: Interlink Pulse·Black Pearl, reprinted by Odaily with authorization.

On November 25, the "People's Court Daily" published an article "Law and Technology Are Indispensible to Combat "Blockchain" MLMs" on page 2, pointing out that "blockchain" MLM frauds have risen and spread, and discussed how to To strike. The latest blockchain commentary published by Xinhua News Agency reminds the public to "don't read the scriptures of the blockchain in a wrong way", and the blockchain cannot become a "gimmick" for hype and deception.

There are many similar official media comments recently. The criticisms of Xinhua News Agency, People’s Court Daily, Economic Information Daily and other media all point to the issuance and hype of virtual currency in the name of blockchain. Interchain Pulse counted seven party media in early November, and released 65 directly related reports within a week of the New Deal. At that time, the key words were data, industry, security, innovation, etc., and a large number of articles tended to popularize the concept of blockchain and There are only 3 articles about the application introduction and warnings to be vigilant about virtual currency hype.

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(Cartography: Interlink Pulse)

State media published 15 articles on "cracking down on counterfeiting and supervision" within a week

Inter-chain pulse statistics are incomplete. Xinhuanet and People.cn collected and reprinted articles on the theme of cracking down on virtual currency or exposing scams under the guise of blockchain. From October 25th to the noon of November 25th, there were a total of 28 articles. Among them, there are 15 articles in one week (November 19th to November 25th).

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(Cartography: Interlink Pulse)

Interlink Pulse observes these articles and finds that they mainly revolve around three points of view. Including clarifying the relationship between blockchain and virtual currency, explaining that the two concepts are not equal; secondly, cracking down on fake "blockchain" scams, or exposing virtual currency scams; finally reminding the public that blockchain cannot become a gimmick for hype, let alone It is a sign of fraud, and we need to be vigilant against such activities and invest rationally.

Get to the bottom of it: blockchain is not equal to virtual currency

A number of official media clearly pointed out in the article that blockchain is not equal to virtual currency, and virtual currency is not equal to stable currency (digital currency) issued by the state.

Beijing Youth Daily published an article on November 24, "Blockchain does not mean the start of national rectification of virtual currency". The article quoted sources close to the Office of the National Internet Financial Risk Special Rectification Group Office, who pointed out that the connotation of the blockchain is very rich, and it is not equal to virtual currency. Regulatory authorities have not changed their attitude towards virtual currency hype and virtual currency trading venues.

Some official media distinguish the two from the nature and use of blockchain and virtual currency. The Beijing Business Daily compares the blockchain to a starting point, virtual currency is just a surface, and the blockchain is the underlying technical architecture, which is the starting point for industrial interconnection and can serve the real economy. China Economic Net pointed out that the blockchain can empower the real economy and cannot be regarded as "coin speculation" in a vulgar way.

People's Daily Online published an article on November 12, "Cleaning the Roots 2: The Difference Between Stablecoins and Virtual Currencies", further explaining that virtual currencies are not equal to stablecoins. The article points out that stablecoins are of monetary nature, while virtual currencies are of investment property, and the two are completely different financial products. Moreover, virtual currency is a speculative investment, and the possibility of becoming a global currency is basically zero.

Revealed: Fake 'Blockchain' Scam Investigation"In the "false" reports of the official media, the focus interview was carried out on November 18. The report entitled "Using the name of "Blockchain" to set up a scam, causing chaos and worrying people", cited some different models of fake "Blockchain" "scam. For example, the blockchain wallet project like BEEBANK uses the concept of blockchain to create funds, and then collects money and runs away; or similar to the blockchain virtual pig raising, the point-earning game launched by Qubu Technology, under the guise of sharing economy , borrowing the banner of the blockchain, but has nothing to do with the blockchain."Mutual Chain Pulse found that compared with when the "1025 New Deal" was just released, the official media conducted a more in-depth investigation when pointing out the fake "blockchain" scam, naming and exposing multiple scam projects."On November 20, Science and Technology Daily published an article "When various virtual currencies are flying all over the sky, beware of them turning the blockchain into "block chaos"". The "RXChain Ruixing Chain" and "Alibaba Coin" that exposed the popularity of well-known companies have nothing to do with Ruixing Coffee and Alibaba Group, but their names make the "scam" more confusing."The Economic Information Daily also made a review of the recent pseudo-"blockchain" chaos, and published "Blockchain" on November 22

underground

The momentum of currency speculation has turned the blockchain into a fraud

Clarifying the concept of blockchain and investigating the details of fake "blockchain" scams, the official media is sparing no effort to warn the public to reduce speculation and rationally identify fake projects or scams.

(Cartography: Interlink Pulse)

Many official media reports all had warning words as their headlines. For example, CCTV's "How to play when the blockchain is on fire?" Expert advice: Do not invest in these cryptocurrencies", Beijing News "Blockchain is not for "speculation"", Economic Daily "Be wary of borrowing blockchain hype and deception", Xinhua News Agency "Some people borrow blockchain Famous hype and deception are worthy of vigilance"...

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(Cartography: Interlink Pulse)

secondary titleThe national rectification of virtual currency has started, exchanges and currency circle media are under strict supervisionIn many of the above reports, it is mentioned that many places are currently conducting investigations and rectification activities on virtual currency transactions. In fact, this series of utterances and actions is bound to happen.

The "1025 New Deal" can create a good social environment for blockchain technology to affect the real economy and manufacturing industry. However, when the New Deal first came out, the "currency circle" also boiled, and illegal transactions of virtual currencies are on the rise.

For example, on October 26, Justin Sun posted on Weibo that when he returned to China to promote the blockchain in 2013, the term "blockchain" did not exist, and now they (the project) are still alive. Later, Luo Yonghao was invited to join TRON with a high profile. Interchain Pulse issued a document on November 4th stating that,

The blockchain in the eyes of "Justin Sun" is not the blockchain advocated by the state

, for the "Sun Yuchens" who made their fortunes with the help of ICO and virtual currency transactions, the carnival must not last long.

On November 15, TRON's official Weibo "TRON Official Blog" was blocked. The page shows that the account has been complained of violating laws and regulations and the relevant provisions of the "Weibo Community Convention", and can no longer be viewed. Binance’s official Weibo was also blocked. In the evening news of November 20th, the "coin circle" media - Deepchain, Coin Circle Bond, One Coin and Token School were blocked on the grounds that "complaints from users and audited by the platform are suspected of violating relevant laws and regulations and policy, the account has been suspended".

Closing Weibo and official accounts is only part of the crackdown.

According to news on November 25, the Beijing police recently uncovered the illegal digital currency exchange BISS (bill market) and characterized it as an illegal fund-raising fraud. Next, with the closing of the investigation and rectification work by local governments, some illegal transactions are bound to be impacted.

On November 21, the Office of the Leading Group Office of the Shenzhen Internet Financial Risk Special Rectification Work issued the "Risk Reminder on Preventing Illegal Activities of "Virtual Currency"" and notified the rectification offices of all districts, the Qianhai Administration Bureau, the Shenzhen Central Branch of the People's Bank of China, and the Municipal Public Security Bureau. The Bureau of Economic Investigation, the Municipal Communications Administration and other units jointly carry out the investigation and rectification of virtual currency trading venues.

It is reported that the Shenzhen Local Financial Supervision Bureau has used the "Ling Kun" system to find out 39 companies suspected of illegal activities involving virtual currency. The list of these 39 companies has not yet been announced, and the results of the investigation and rectification may severely crack down on illegal transactions.

As early as a few days after the "1025 New Deal" was released, all localities have issued notices for investigation and rectification, and actions have been launched.

On November 11, the Department of Industry and Information Technology of the Inner Mongolia Autonomous Region issued a notice on the joint inspection of virtual currency "mining" companies. The inspection period lasted from November 11 to November 25, 2019.

On November 13, the Dongguan Financial Work Bureau issued the "Risk Reminder on Preventing Illegal Fundraising in the Name of "Virtual Currency" and "Blockchain"".

On November 13, the Beijing Local Financial Supervision Bureau issued the "Risk Reminder Regarding Unapproved Business Activities of Branches of Trading Places".