Community Observation: 2019.08.28
Community Observation publishes insightful opinions and interesting thoughts collected from the SimpleChain community. If you have any thoughts/opinions about blockchain/crypto that you’d like to share, feel free to contact us through our Telegram group.
By 红糖玛奇朵
At the end of the 19th century, the world established the gold standard monetary system, and countries anchored their currencies to gold. During the Great Depression, countries devalued their own currencies and raised tariffs, and the world split into different currency blocs. In 1944, the Bretton Woods agreement was created in a conference of all of the World War II Allied nations. The agreement replaced the gold standard with the US dollar as the global currency.
Even though the Euro and the RMB are still unable to replace US dollar, I believe the US dollar standard system won’t last forever.
The US economic expansion has been going on for over ten years. China’s industrial production index has hit a new low since 2002. The current trade wars and currency wars bring about huge uncertainties, which have led to anxiety shown in markets and central banks. National debt is sought after and the price of gold is at a six-year high. Risk aversion is increasing.
USD/CNY pushes above 7.0. Worst case, countries might return to devaluing their currencies and raising tariffs. The global monetary system might collapse and the future is unknown.
About SimpleChain
SimpleChain is a PoW main chain with flexible sub-chains. Different sub-chains can adopt different kinds of consensus and block data structure as needed, to support a variety of applications and use cases on blockchain. Sub-chains also support sharding to improve performance. This double-layered structure of one main chain and multiple sub-chains can fuel various applications while ensuring the consistency of the network.
Built on Baoquan Chain, SimpleChain’s first sub-chain, Baoquan.com provides electronic data services including electronic evidence service, online evidence gathering service, and copyright protection platform. Based on the non-traceable and non-tamperable features of the blockchain, the advantages of Baoquan.com is that user data can be permanently stored on the blockchain, independent of corporations.
In June 2018, Hangzhou Internet Court of China judged a case of a dispute over information network communication rights. For the first time, the court confirmed the legal effect of the electronic data stored on Baoquan blockchain, and clarified review methods of electronic evidence on blockchain.
We have launched the mainnet beta version in January (see blockchain browser), and we will be launching mainnet official version 1.0 in Q3 this year. Also, our codes are open-sourced on Github.
Find SimpleChain at:
Website: https://www.simplechain.com
Twitter: https://twitter.com/SimpleChain
Medium: https://medium.com/SimpleChain
Facebook: https://www.facebook.com/SimpleChainOfficial
GitHub: https://github.com/simplechain-org
Telegram Group: https://t.me/SimpleChainEN
