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The way of blockchain landing

Time : 02/10/2021 Author : d0ngax Click : + -
        Every time we mention the blockchain, we always have the feeling of "thunder is louder than rain". We say it is very useful and revolutionary, but in real life, we can't say what it is. We say that all major Internet companies have started to study blockchain technology, but we can't say what blockchain applications are really in use. In the final analysis, the blockchain has not yet landed. It has been several years since the concept of blockchain was put forward. Why didn't it land so late? What is missing? Is it technically immature? Is it the policy reason? Or are there other deeper reasons?.
 
        At present, the blockchain industry is definitely immature in technology. The most direct manifestation is that the current blockchain industry is inefficient and unable to carry a large number of high-frequency and concurrent applications. Having experienced the Internet era and the "double 11" panic buying, we hope that everything can be processed in real time. We will certainly not be satisfied with a block in a few minutes, nor will we be satisfied with the fact that the network will be too congested to be used and the handling fee will soar to unbearable when the traffic is large. This is the core problem that the blockchain is facing technically. However, there are different solutions to these problems, and these solutions are all in progress. For example, if the sharding technology proposed by Ethereum is really put into use, the efficiency will be greatly improved; For example, many blockchain projects are adjusting the consensus mechanism, POW projects are beginning to decrease, and POS and dpos are mostly used for new projects; The rise of side chains and two-tier networks is solving the problem of low efficiency of blockchains from different perspectives.
 
        If the biggest bottleneck of blockchain lies in efficiency, then this technical difficulty is slowly being solved. This is indeed a problem in the current blockchain industry, but this problem is not without solutions. Many project parties have proposed cross chain solutions from different perspectives, some from the perspective of the underlying protocol, some from the perspective of the gateway, and other from the perspective of the system architecture. Although the technical architecture is different, the overall idea is the same. The most difficult thing is that basically all the projects agree that the blockchain needs to be interconnected. This also means that only a mature cross chain solution is needed, and most blockchain projects can be quickly connected to the cross chain. At that time, different blockchain projects can be connected to form a complete and interconnected value chain network in a very short time.
 
        For technical problems, the most feared thing is that there is no direction. Once there is a direction, the rest is only a matter of time. The difficulties encountered in the process of specific implementation are all small difficulties, and there are ways to solve them. Then the problems faced by the implementation of the blockchain may not come from within the blockchain, but from outside the blockchain? Such as the government's policy and regulatory attitude?. For example, there was a lot of confusion about various projects using digital currency financing before, but after the government clearly stipulated that all digital currency financing was illegal fund-raising, the phenomenon of using digital currency financing basically disappeared;. For example, there were many projects that used the workload proof mechanism before, but after the government issued an announcement to impose certain restrictions on "mining", the workload proof was rarely used for new projects, and they all turned to POS and dpos.
 
        Moreover, from the contact with enterprises, the government's attitude towards digital currency is indeed the main reason why many enterprises are unwilling to contact digital currency and issue tokens. For example, technically speaking, digital currency payment has the possibility of large-scale commercial use, and many commercial organizations have been able to access digital currency payment for a long time. In addition to bitcoin, we also have many other digital currencies. The payment of these digital currencies can be nearly real-time. There are also technical means to ensure that you can immediately change into corresponding legal currency after receiving the digital currency, without large price fluctuations; The specific payment methods are also very simple. Like wechat and Alipay, they are also code scanning payment.
 
        However, no large merchant dares to publicly support digital currency payment, even if it knows that this is a good publicity, even if it knows that it will bring many customers. The reason is that the state's attitude towards digital currency is boycott and rejection, so it is difficult to popularize digital currency payment in the current business environment. For example, it was originally a good idea to issue points in the form of tokens through the blockchain. Traditional points are closed and can only be used within a company ecosystem. For larger companies such as Alipay, their points may be applicable to a wider range and can be used in many of their ecosystems, but there are still limitations.
 
        The points issued based on the blockchain token break the closed system. You can exchange with a certain benchmark digital currency at any time, and also exchange with the points of other stores that join the point system at any time. The original closed point system is turned into an open point system, and the original closed marketing system is turned into an open marketing system. The effect is still very obvious. However, most businesses are hesitant after being exposed to this concept. Their hesitation lies in the fact that as long as the token is issued, it is equivalent to accessing the digital currency system in the eyes of the outside world, and the current attitude of the country towards digital currency is to reject it.
 
        The benefits of adding the token element are not obvious, but the risks are real. This will lead them to consider their actions. In addition to digital currency, any part that intersects with digital currency has been significantly affected. In fact, the country does not support the blockchain industry, but if we simply think that "blockchain = Distributed Accounting + digital currency", then the government supports distributed accounting, but suppresses digital currency. In the government's cognition, blockchain is a distributed accounting technology. The distributed accounting technology supported by the state does not require issuing coins or financing. It has great benefits and small risks. It only needs simple technical improvement.
 
        This distributed accounting technology itself can indeed improve efficiency. Because of this, this is also the place where all major banks, financial institutions and Internet companies concentrate their efforts on investment and development. You can specifically understand that the most publicized and popular projects in the media are such projects, such as ant blockchain and Baidu super chain. However, these distributed accounting projects have a feature, that is, most of these projects are tob, not TOC, and most of them are low-level technologies, and do not involve the product level. Therefore, even after blockchain has started to be implemented and put into use on a large scale in these fields, ordinary people may not feel it, and may still think that blockchain has not been implemented at all.
 
        Digital currency is the most dynamic part of the blockchain and the core of the blockchain. After this most dynamic part is restricted by the government, if the blockchain wants to be accepted by the traditional business world, and if it wants to enter people's lives, the pace will be much slower, and it will always be one step away from explosive development. Government regulation has both advantages and disadvantages. On the one hand, it causes many enterprises to hesitate when accepting digital currency and blockchain technology, for fear of taking risks; But on the other hand, it also dealt a great blow to those criminal fraud projects. If the blockchain world is compared to an endless grassland, the government's supervision is equivalent to setting a boundary on the grassland. We can play and innovate as we like within the boundary, but outside the boundary, we will be hit and restricted.
 
        The focus of our discussion here is landing. The process of landing is actually the process of compliance. What is compliance? Compliance is a game within the rules. What are the current government rules? To put it simply, there are three points: 1. Support distributed bookkeeping projects; 2. Take a neutral attitude towards issuing currency; 3. Resist digital currency financing. Since the government strongly supports the blockchain projects of Distributed Accounting, we now take the projects of Distributed Accounting as the main starting point. In this part, those large companies have started to enter the market, have already owned a large number of patents, and the products have basically taken shape and even begun to be put into use. So we will make this part the main force of the development of the blockchain world at this stage, and let the blockchain of Distributed Accounting connect with banks and government institutions, and connect with small and medium-sized enterprises and users, so as to deepen the blockchain technology into each specific product.
 
        On the one hand, the distributed bookkeeping they are engaged in is indeed useful and can make a great improvement on the basis of the original Internet, making cross department and cross center cooperation possible and greatly improving efficiency. Moreover, these distributed accounting projects are the infrastructure needed for future asset digitization;. On the other hand, with the further development of their distributed accounting technology, they will also encounter a real bottleneck. They will find that although distributed accounting has been very useful, there is still a lack of qualitative change, that is, token. Without a token, it's like you have a very advanced machine gun, but no bullets. At that time, it's natural that the popularity of tokens.
 
        The government is actually hesitant about issuing coins. On the one hand, it is not sure whether the blockchain can be separated from the development of coins. It is not sure whether the core of asset digitization is actually a process of issuing coins. On the other hand, the government also knows that there is an ambiguous relationship between issuing coins and financing. Therefore, at present, the government has a neutral attitude towards this area, which is to give the industry sufficient freedom and allow enterprises to explore on their own. Previously, there was a news that sina Weibo issued an oasis app and also issued a pass. In fact, it only issued a pass here and did not involve financing. However, it was stopped by the government because the government was worried that the publicity role of these large companies in issuing passes would give people a wrong understanding, and make the acts of issuing coins, illegal fund-raising and air coins resurgent.
 
        Of course, the token will be issued, but it can be issued silently. Let some enterprises use it first. As long as the function of the token is truly reflected, I believe that a spark will start a prairie fire sooner or later, and the government will change its attitude towards the token sooner or later. In this area, I personally support the government's approach. At present, the financing behavior of the blockchain industry really needs to be controlled. There is no standard for these financing behaviors. The corresponding rights and interests behind tokens are not standardized, and most of them are air coins. If you really need financing, it is enough to use the traditional VC and PE financing models. Institutional investors provide you with various resources, and at the same time, institutional investors indirectly help ordinary investors to do due diligence, so as to reduce the risk of ordinary investors being illegally raised and defrauded.
 
        This is the path with the least resistance to the landing of the blockchain industry. If the direction is right, other things only need to be left to time.
 
        
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