Blockchain Industry Inventory in 2018
As we all know, blockchain is a collection of existing computer technologies such as encryption algorithms, distributed data storage, and peer-to-peer transmission. The blockchain industry can now be divided into the following sections.
1. Classification Of Blockchain Industry
As we all know, blockchain is a collection of existing computer technologies such as encryption algorithms, distributed data storage, and peer-to-peer transmission. The blockchain industry can now be divided into the following sections.
One is the mine circle, which is the manufacturer or vendor or R&D institution associated with the hardware infrastructure that supports the operation of the POW mechanism network, such as Bitcoin or Ethereum mining related equipment.
The second is the chain circle, mainly related to blockchain technology and applications. MAI is a member of the chain circle, because we focus on the development of blockchain technology and use this to plan the ecology of the entire application.
The last part is the currency circle. The currency circle is mainly related to the token of the blockchain. Some people who don’t know the blockchain call the Token as the currency. The currency circle is mainly related to the trading of the currency on the exchange or the speculative currency. In the future, there may be virtual currency mortgages, financing services, and related financial institution services.
2. Blockchain Industry Ecology
The blockchain industry ecology is the sum of these circles. It also includes blockchain media, corporate service agencies, investment and financing companies, and regulatory agencies that may join in the future.
With the development of blockchain, the ecosystem of blockchains will gradually become richer and more complete. The blockchain industry is currently radiating different industries and is gradually being explored. Its application has been extended to the financial system, copyright protection, government systems, supply chain, logistics, IoT, personal credit and other fields.
The People’s Daily Overseas Edition released an article on June 1. As mentioned in this article, by May 2018, there were approximately 4,500 blockchain positions on LinkedIn. This vacancy is about 150% higher than the total for 2017. At present, the industry talent gap of the entire domestic blockchain is predicted to be more than 500,000. The reason is that many schools do not have a blockchain profession or a plan for talent development in the blockchain industry. If you have relevant resources, there will be a big market for education and training in the blockchain in the future.
3. The Development Of Blockchain Education
According to the data, 47 schools around the world have opened blockchain courses so far. The first country to open a blockchain course was Cyprus. It opened a blockchain course at the University of Nicosia in November 2013.
China, the United States and Russia have opened up the largest blockchain courses in the world. In the blockchain world, it is the head countries that are driving the development of the entire industry.
4. The Development of Educational Institutions
In China, Tsinghua University was the first school which opened a blockchain course in September 2015. The next one is the Central University of Finance and Economics, which opened a course in July 2016. In August 2017, Beijing University of Posts and Telecommunications and Tongji University opened blockchain courses. In 2018, universities with blockchain courses include Zhejiang University, Xi’an University of Electronic Science and Technology, Shanghai University of Finance and Economics, Peking University, Shanghai Jiaotong University, and Wuhan University.
In addition, all the universities in the United States that we all know, such as MIT, New York University, Stanford University, Princeton University, etc., have opened blockchain courses very early. According to the above situation, everyone can feel that the academic community is not controversial about the idea that blockchain technology is the future trend of human society development.
5. Global Regulatory Attitude
At present, there are dozens of major countries around the world that express different attitudes and policies on the blockchain. The main policies can be divided into the following four categories. The first one is basically no supervision. The second one is to encourage and support the blockchain. The third one has strict supervision, and the last one has strict prohibition.
Countries that are open to virtual currency are generally ahead in asset management, mainly in developed countries in Europe, as well as in Singapore and Japan in Asia.
There are two types of countries that are strictly regulated cryptocurrency. Some countries have gradually turned their attitudes toward virtual currency from cautious to open, such as Russia, South Korea and Thailand, which have already issued a ban, but have now withdrawn. In other countries, the process of encouraging the development of virtual currency has gradually strengthened supervision, such as the United States.
Most countries with little supervision are located in Oceania, Central and Western Asia and Africa.
Therefore, whether you are engaged in blockchain projects or blockchain technology development, you need to understand the current level of regulation or regulatory categories of virtual currency and blockchain in various countries around the world.
But what’s interesting is that most countries have no clear rules on whether to allow Bitcoin to be used as a payment instrument or to convert legal tender. It can be seen that most countries are not sure whether virtual currency will impact the legal currency market in the future.
6. Policy And Regulation Of Governments
The countries with the most frequent policies are the United States, the United Kingdom and Japan. They are not only the countries with the most blockchain projects, but also the countries with the most outstanding contributions to regulatory experience. For example, the United States and Japan have access qualification management. If you want to set up a blockchain company or issue digital currency, you must have an access qualification.
At present, there are three management experiences in the blockchain industry that are highly respected in the world. Regulatory sandbox, classified management and industry access.
7. Similarities and Differences between TOKEN and Stock
After the token is on the exchange, it can be considered a stock, but it is more than just stock. Because we generally buy stocks in the secondary market, we cannot participate in the circulation of the ecosystem. The performance of this stock is determined by the judgment of its entire team and his leaders. But the token is special. It can not only buy and sell on the exchange like stocks, but also recycle the ecology of this blockchain project. You can spend money to buy tokens, and you can also participate in the construction of this ecosystem to get tokens. Therefore, it is quite difficult to name tokens in accordance with the existing financial system.
The above table lists some of the measures taken by various countries in last year on blockchain, 1CO, and bitcoin regulation.
8. Update and Iteration of Blockchain Technology
The technical update and iteration of the blockchain is a relatively rapid development in the blockchain industry. In order to solve the scalability problems in Bitcoin and Ethereum, many blockchain developers or practitioners have proposed a variety of solutions to improve scalability, including On-Chain expansion and Off-Chain expansion.
On-Chain expansion solutions includes sharding technology, isolation witness, and increased block capacity. Bitcoin has been forked once because of increasing block capacity.
Off-Chain expansion solutions includes cross-chain interaction of side chains, directed acyclic graph (DAG technology).
Another important aspect of blockchain technology updates and iterations is the consensus mechanism. Everyone racked their brains to think about all possible consensus mechanisms. At present, in addition to POW, POS, DPOS, Byzantine and various mixed forms of consensus mechanisms.
At present, it has not changed much that the SHA256 algorithm is used to mine and decrypt the POW mechanism. But what are these cryptographers studying now? They mainly study anti-quantum computing cryptography and cryptography that can completely anonymize addresses, and they will occupy an important position in the future. Scientists in quantum theory believe that quantum computers will be born in the next 20 to 30 years. Even if the quantum computer may cause significant damage or damage to the original blockchain system, you don’t need to worry too much. Because by that time, the blockchain world has a way to deal with this problem.
9. China’s Policy and Supervision
On September 4 last year, in response to the blockchain, especially the 1CO and the exchange, the seven ministries issued a law to prohibit the 1CO in mainland China. It is said that there has just been news that the government has reiterated that it is necessary to prevent some blockchain projects similar to pyramid schemes and funds from making a comeback.
It can be seen that China’s blockchain, especially virtual currency transactions, is still under strict supervision. Mainly because some people are too smart. Every new technology and black technology that emerges will be used for pyramid schemes or funds.
Does the stringent state crackdown on virtual currency trading and 1CO mean that the blockchain can no longer develop in China? I don’t think so. Because recently, especially last year, about 30 provinces and municipalities across the country have introduced special policies for blockchain. Moreover, there are many provinces and regions that have emphasized the need to encourage the integration of blockchain technology for industrial innovation in regional planning.
The government advocates a currency-free blockchain. I think that the currency-free blockchain is not without a token, but how to use the token.
10. Token in the Blockchain Ecology
We believe that the blockchain will certainly solve some problems that the Internet cannot solve in the future. From a commercial point of view, if there is no token for incentives and circulation, the blockchain ecology is difficult to build. Only the token is not enough, and the token should reflect the value. Exchanges, tokens, and blockchain ecology are indispensable for commercial or application blockchains.
11. Data Deposit
The blockchain industry has attracted a large influx of capital and talent in the past few years. Although there is no killer application in the blockchain, the blockchain has actually made some breakthroughs in many subdivisions, such as data deposit, cross-border settlement, invoices, supply chain finance, food regulation, etc.
For example, on June 28, 2018, the Hangzhou Internet Court used an evidence of depositing a certificate on the Internet to determine the infringement of the defendant. In September 2018, the Supreme People’s Court also issued a judicial interpretation. If the electronic data submitted by the parties can prove their authenticity through technical means such as blockchain or electronic forensics platform, the Internet court will confirm it. Because the biggest feature of the blockchain is that the data cannot be tampered with, it is easy to prove authenticity for a blockchain data storage platform.
12. Blockchain Finance
In June 2018, Ant Financial achieved the world’s first cross-border remittance service based on blockchain e-wallet, reducing the remittance speed to a few seconds and saving a lot of money. In August 2018, Tencent and the Shenzhen Municipal Taxation Bureau jointly released the first blockchain invoice, which enabled the electronic invoice to be traced back on the blockchain to ensure the authenticity of the data.
13. Analysis of the Blockchain Market Through the Currency Market
The above is the situation of the blockchain industry in 2018. In fact, many people do not know much about the blockchain, and most of them enter the blockchain field through the currency circle. At present, in the currency circle, cryptocurrencies have generally fallen, and many currencies have fallen to almost zero. In the case of such a fall, everyone’s confidence in the blockchain will be shaken. I am talking about this to tell you that the blockchain must be an important technology to promote the progress of human society. I think that when you are in a bear market, you must seriously understand the knowledge of the blockchain.
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