Member of blockchain platform

1. Beijing, Fujian, etc. we also have a Changsha blockchain Application Technology Instry Association in Changsha. Recently, the SMIC blockchain launched by Changsha hi tech Zone is also operated by its member units.

2. In short, it is to prove that the facts are reliable without giving you direct evidence. For example, if a house is proved to be its own, it can give you a real estate certificate (generally direct method), or it can show you how to open the door with your own key (isolation witness method)

3. Before I tell you the scope of application, I'll talk about the function of digital signature: digital signature uses the private key of digital certificate to encrypt the abstract of data, so as to ensure the integrity, authenticity and non repudiation of data

digital signature is the most reliable and key method to ensure the integrity, authenticity and non repudiation of data. Where it is needed, it can be applied
now the typical applications are: online banking, e-commerce, e-government, network communication, etc

4. There are risks. Why is the account unfrozen
do you have any illegal operations
if you don't do anything, how can your account be frozen
can blockchain software bring you excess revenue
is it worth $50000
money will not be lost in vain. The money in your hand is real.

5. There is not much difference between the virtual currency member system and the member system we usually use. The principle is similar. The main difference lies in the virtual currency. The value of virtual currency on each platform is different. The application of blockchain in the development of virtual currency member system also ensures the transaction security and transparency of virtual currency. How to do it, you can take a look at the development plan of Yingtang Zhongchuang's blockchain virtual currency member system. At that time, the blockchain application development research is more in-depth.

6. Blockchain is the underlying technology of bitcoin, like a database ledger, recording all transaction records. Because of its safety and convenience, this technology has graally attracted the attention of the banking and financial instry
the network mutual aid platform is a combination of the original insurance form and the Internet. By using the information matching function of the Internet, members promise to bear each other's risk and loss through the agreement. In order to avoid the indivial's heavy burden, it is agreed that the single mutual aid fund should not exceed several yuan, and the solvency problem is avoided
for example, the first network mutual aid platform based on blockchain in China is concentric mutual aid, and the network mutual aid application based on blockchain platform can maximize the absolute security of funds, protocols and information, and improve the ability of risk control
the flow of funds is transparent
all the details of the flow of funds are recorded on the blockchain, and the data can not be forged or tampered to ensure the authenticity and validity of the data. All regulatory units, public media and ordinary users can view and supervise the implementation of the rules at any time
the rules are efficient
all the funds are transferred according to the open and tamperable smart contract, Once determined, it can be executed accurately, no one can intervene, no legal person can misappropriate or intervene, which improves the efficiency of rule execution
user information security
all personal sensitive information is highly encrypted and stored, unless authorized by the user, Other people can't access and steal
the service will never be down
the network mutual assistance running on the public chain doesn't depend on whether a central server is online, which can ensure that the service provided will never be down
remember to adopt it..

7. You can contact the association directly. The chairman unit is souyun technology. Recently, the Association participated in a SMIC blockchain project and recruited enterprises to join the chain.

8.

This year's A-share market deals with all kinds of problems

from Guizhou Maotai with 1200 yuan, to Hengrui pharmaceutical with 99 times P / E ratio, to soy sauce stocks with 300 billion market value

any kind of white horse stocks may fail you. Only the core assets of the consumer instry are stable happiness

However, judging from the traditional valuation, the price to earnings ratio (PE) and price to book ratio (PB) of the big consumer sector are not cheap any more:

① PE of the food and beverage instry is 32.17 times, reaching 68% of the historical percentage, and Pb is 6.5 times, reaching 81% of the historical percentage

2. The price earnings ratio of the Baijiu liquor segment is 32.17 times higher than that of the historical average. p> Is the valuation of consumer stocks too high

Guotai Junan retail team recently released "stick to the consumer leader, share China's growth", which analyzes in detail the changes in the valuation logic of consumer stocks

there are 2303 words in this article, and the reading time is estimated to be 10 minutes. Pull to the bottom of this article to read the core ideas of this article

remember the "beautiful 50" in America

before discussing whether the valuation of consumer white horse stocks is too high, we might as well review the "beautiful 50" market in the United States in the early 1970s

the so-called "beautiful 50" refers to the 50 large cap stocks in the New York Stock Exchange in the United States from the late 1960s to the early 1970s, among which there are many consumer brands that we are still familiar with, such as McDonald's, Coca Cola and so on

One of the most important characteristics of "beautiful 50" is that high profit and high PE exist at the same time

since 1971, the stock price and valuation level of "Meili 50" have risen rapidly. At the end of 1972, the median valuation was more than 40 times, and the highest valuation of Polaroid was even more than 90 times, while the median valuation of S & P 500 was only 12 times

throughout the market, it is not difficult to find that consumer stocks are especially favored by big funds. Analyzing the reasons behind it, we think that there are two points:

1. The business model is clear and the financial content is simple. 2. The economic downturn is more risk averse

still takes America's "beautiful 50" as an example. There are three main reasons for the ending of the "beautiful 50" market:

1) the huge fiscal deficit and credit expansion in the United States have accumulated a high inflation bubble, and the food crisis has triggered CPI upward, and the Federal Reserve has had to accelerate the tightening of monetary policy; < / p> The oil crisis broke out in 1973, which led to the further deterioration of inflation, the rising cost of raw materials eroded the profits of enterprises, the gross profit rate and profit growth rate of enterprises both went down, and the stock market turned from bull to bear

3) since 1973, the profit growth and roe of "Meili 50" began to decline, and the stability of profit was questioned by the market

we believe that the phenomenon of "group heating" of A-share institutions can only be broken in two cases:

1) the performance of consumption leaders continues to be lower than expected, but at present, the revenue and net profit of Baima shares such as Guizhou Maotai, Wuliangye, Gree Electric Appliance and Midea Group keep steady growth

2) like the "Meili 50" in the United States, a shares encounter large external changes, such as the overall escalation of Sino US friction or the global economic cliff recession, but the probability is very small at present

at present, the possibility of both cases is very small

how to configure later

in terms of follow-up allocation, we suggest mining investment opportunities from two main lines

1) efficiency in terms of supply: the leading enterprises with high operating efficiency, steady performance growth and obvious competitive advantage will continue to grow by squeezing the market share of small and medium-sized enterprises

2) dividend from demand: there is still a huge consumer demand dividend in the third and fourth tier market. We are optimistic about the enterprises with strong growth, instry logic and income support, especially the leading companies whose strategic focus is expanding to the low tier market and can enhance the market share through their own management and cost advantages

summary of this paper:

1 in the traditional sense, the big consumer sector is no longer cheap

However, when the consumer instry develops to a certain stage, its leading stocks should not simply judge the valuation level according to the price earnings ratio (PE)

3 the valuation system of consumer instry is changing from PE model to DDM model. Once the consumer leader has established a deep enough "moat", the steady growth, market share increase, profit improvement and continuous dividend will be enough to support its valuation level

4 domestic funds and overseas funds maintain a high enthusiasm in the allocation of large consumer instries. The reason why consumer stocks are favored by big funds is that their business model is clear, their financial content is simple, and they are more risk averse in the period of economic downturn

5 the group market of consumer stocks is not easy to be broken in the short term. In terms of follow-up allocation, we should pay attention to leading enterprises from the perspective of supply; From the perspective of demand, focus on the enterprises with strong growth, instry logic and income support

9. Now people's mind is more and more oriented. In the past, they usually deposit money directly in the bank for three or five years. Now they usually let money make money and money roll
current financial management methods; There are many financial procts, platforms and enterprises; It is suggested to make more investigation before deciding which platform or enterprise to invest in<

first, invest in formal platforms

Second, find potential procts

Third, learn more about the proct market