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Free trade observation: the next two decades of blockchain and data economy

Time : 01/07/2021 Author : zvuali Click : + -
        On April 30, Liang Xinjun, the co-founder of Fosun Group, delivered a keynote speech titled "the future has come — twenty years of blockchain and data economy" at the science and technology entrepreneurship center of Nanyang Technological University in Singapore. The main points are summarized as follows:. 1. The crypto asset boom since the fourth quarter of 2020 is due to the uncontrolled issuance of money by many countries, which will not be improved in the future. For example, bitcoin rose nearly 100% in the first quarter, ranking first among all major categories of assets. 2. Compared with currency, the issuance of encrypted assets is relatively restrained; Compared with the growth rate of CPI, BTC (bitcoin), ETH (Ethereum) and BNB (coin security) will be deflationary assets in the future.
        3. Affected by the epidemic, the digital economy has grown rapidly in the past year. In the future, blockchain is to digitize assets, completely connect the physical earth with the digital earth, and make the data economy the main driving force of the economy in the next 20 years. 5. Promoting the development of digital economy should be divided into three steps: the first step is to promote the tokenization of payment (token is "token", which is a valuable and encrypted equity certificate circulating on the blockchain), the second step is to promote the tokenization of assets, and the third step is to promote the capitalization of data. 6. Tokenization of payment means fully realizing commercial and personal digital payment, promoting the seamless exchange of national sovereign digital currency and community digital currency, and realizing global payment circulation.
        7. In terms of tokenization of assets, the current total scale of global digital currency is about US $2trillion, which is small compared with the traditional financial assets of US $230trillion. Therefore, there is much room for blockchain and data economy to grow; The sto of legal securities assets is blue ocean. (STO, the full name of securitytokenoffering, that is, securities token issuance. Under the constraints of securities law and financial supervision, it is an act of financing by issuing securitytoken of securitization token). 8. The capitalization of data is of epoch-making significance. Data is a contemporary core factor of production, and the premise of data economy is data credibility.
        Internet of things technology can ensure the authenticity of the data collection side; Blockchain technology can confirm and calculate the asset rights of data on the premise of complying with national privacy protection laws and regulations. 9. The truly representative large-scale application of blockchain is defi (decentralized finance, built on the public chain, and the code is an open-source decentralized financial project). 10. Defi is very efficient and concise, and so far it has operated safely and reliably. The main representative technologies are decentralized trading platforms (agreements) and lending platforms (agreements). 11. Compared with traditional finance, defi has significant differences in the following two aspects: first, the pledge rate is very high, and the security is higher than traditional finance; The second is liquidation automation, which triggers liquidation conditions and automatically completes asset liquidation in 15 seconds to reduce transaction risk.
        12. For traditional financial institutions, the above differences are not necessarily a threat. Traditional financial institutions can also develop and benefit from encrypted asset business. 13. Cryptocurrencies such as BTC (bitcoin) and eth (Ethereum) are not currencies, but rather encrypted assets, only with a currency in their names.
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