Blockchain is a great social experiment

1. blockchain is a new application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies. The so-called consensus mechanism is a mathematical algorithm to establish trust and obtain interests between different nodes in the blockchain system
blockchain technology is considered to be the next generation of disruptive core technology after steam engine, power and Internet. If the steam engine has released people's proctivity, the power has solved people's basic living needs, and the Internet has completely changed the way of information transmission, then the blockchain, as a machine for building trust, may completely change the way of value transmission of the whole human society
first, the essence of blockchain is a distributed public ledger
take a popular example to explain that Mr. w's family, including Mr. W, Mrs. W, Mr. w's grandfather and Mrs. w's grandmother, all record their expenses in their respective books. Because Mr. w's family doesn't trust each other. Mr. W is diligent in raising his wife every month, but Mrs. w may receive 1000 yuan, but she receives 100 yuan. Isn't that a big loss
how to solve this problem with blockchain
if Mr. w gives Mrs. w $1000 one day, he just shouts at the whole family that Mr. w gives Mrs. w $1000. Please write down "Mr. w gives Mrs. w $1000" on their respective account books
so everyone in Mr. w's family becomes a node, and every transaction of Mr. w's family is recorded by everyone (each node)
every night who washes the dishes (proof of workload) can settle the bill in the public ledger, and there is a reward for washing the dishes. A new transaction must be added to the universally recognized ledger of the previous day, and other people will also participate in verifying the transactions of the day
Second, it seems very simple, but blockchain may bring revolutionary changes to human society
1. Machine trust
machine trust is actually trust without trust. For the first time in human history, a large-scale cooperation network unprecedented on earth can be established at near zero cost, which is bound to be a great mass movement
2. Value transfer
the emergence of the Internet has made the means of information dissemination achieve a leap, and information has realized efficient flow, but the efficiency of Internet value transfer is still very slow. At present, e-money on the Internet is still the traditional paper money in essence, and transnational payment is still a big problem
the birth of blockchain is the beginning of human value transmission network. It will enable people to transfer value as conveniently and cheaply as information on the Internet, which can be expressed as capital, assets or other forms
3. Smart contract
smart contract can replace all paper contracts, and more importantly, blockchain can perfectly connect the physical world and virtual world. The perfect combination of blockchain, Internet of things and artificial intelligence makes the imagination more huge
the blockchain itself is actually a super platform. The commercial characteristics of building machine trust, value transfer and smart contract on the blockchain are: ① close to zero trust cost. ② The marginal cost of constructing and trading assets tends to zero
so Mark Anderson, a web browser pioneer, said: in 20 years' time, we will talk about blockchain as we talk about the Internet today.

2. Blockchain technology is in its early stage, and has not yet formed a unified technical standard. Its scalability needs to be tested by large-scale practice; The application of blockchain is still in its infancy, and its application in some instries needs quantitative analysis, such as the financial instry. At present, the investment in financial infrastructure exceeds trillions. In the case that the existing technology has not been deployed and the use cases have been obtained, the financial instry will remain cautious about adopting blockchain technology; The blockchain instry is extremely short of cross-border talents who understand both technology and finance
the most valuable part of blockchain is not technology, but the idea behind it.
no technology is omnipotent, so is blockchain technology. As a trust connector, the greatest value it brings to the times is the concept of openness, openness and transparency behind it, and the spirit of building a business with trust and honesty. Based on this spirit, the blockchain technology is like the most impartial machine judge, so that every information in its hands can exist permanently in the world and be tested by future generations.

3. Blockchain is a distributed ledger database, and its core is the essence of trust, that is, the ledger is still used, and there are records that can not be tampered with in the ledger, Its design is as like as two peas in the traditional account:
add a signature
in each record. Each device in the block chain network maintains a complete and identical account
another feature of the block chain is that this ledger book is kept in every computer, and each one is exactly the same as the 2. This can ensure that one account book is damaged (the disk is damaged or tampered with to make it unusable), and the account books on other machines can still be used to ensure that the data will not be lost
the above two points are the core technologies for blockchain to establish trust relationship, which ensures that the data is reliable and can not be tampered with. This revolutionary realization of trust transfer between two strangers does not require the participation of intermediate institutions. With this foundation, the whole "new institutional economics" will no longer exist, and even the trust companies derived from it will be replaced, This is probably why Alipay announced the introction of block chain technology in January 2017. It is bold to predict that Internet Co will be built on the block chain in the future. What we can imagine is the property chain, food safety chain, financial service chain, chain chain and so on.
the application fields of blockchain include digital currency, token, finance, anti-counterfeiting traceability, privacy protection, supply chain, entertainment, etc. with the popularity of blockchain and bitcoin, many related top domain names have been registered, which has a great impact on the domain name instry.

4. What is the most essential difference in economic activities before and after the blockchain comes out
before blockchain, any transaction activity needs an intermediary. Without an intermediary, two strangers can not reach a transaction. Here comes the blockchain, replacing the intermediary with a robot, and using a set of mathematical algorithms to ensure that two strangers complete a transaction
blockchain is a machine of trust, which is its essence
"decentralization" is a result of blockchain. In economic transaction activities, the so-called "decentralisation" is nothing more than these meanings:
first, when we complete a transaction, we no longer need a third party, which is a center
secondly, all the economic activities on the blockchain no longer need the organization and system of "company" to help us complete various transactions
thirdly, when serving for a centralized organization, the centralized organization gives us jobs and wages to encourage us to better serve the cause, but the incentive mechanism on the blockchain is not established by the centralized organization.

5. From now on, the possibility of implementation is relatively small, perhaps because of this

6. 1、 Blockchain will play the role of "recing costs for the real economy". At present, the high cost and low profit of the real economy lead to the lack of capital support for the real economy. In the operating cost, the proportion of management cost and financial cost is not low. Blockchain technology can effectively help enterprises rece the cost of these two parts
secondly, blockchain will play a role of "improving the efficiency of instrial chain collaboration". Enhancing instrial collaboration is an important way to promote manufacturing in China to move towards the middle and high end. However, in many instries, the efficiency of instrial chain collaboration is still not high, especially in the field of international trade
thirdly, blockchain will play a role of "building an honest instrial environment". At present, the construction of China's social credit system is accelerating, but in some cases, the process of building trust among partners is still slow, it is difficult to obtain all kinds of credit information, and it is difficult for small, medium and micro enterprises to obtain credit loans from financial institutions. Through the "transaction on the chain", all aspects can more easily find out the accurate historical credit situation of the counterparties, and establish the cooperation mechanism faster; Banks can also give credit to enterprises more safely based on transaction records, and promote the solution of the problems of "difficult, expensive and slow financing" of small, medium and micro enterprises operating in good faith
in addition, blockchain can make use of smart contracts to avoid default and fraud to a large extent, and can also make efficient and convenient payment scenario applications in combination with blockchain asset wallet. As early as in the blockchain circle, there have been many innovation forums and Instry Summit aiming at the direction of blockchain enabling the real economy, and combining with the local economic instry to carry out landing optimization. For example, the world blockchain conference Macao station intends to make a deep integration with the local economic instry, and use and popularize the blockchain assets with the payment means of magic chain wallet.

7. It should belong to Chuang Ge. Now there are too many kinds of blockchain projects. It's hard to identify the real blockchain projects. Super energy EES is a good project.

8. The wind came and blew away, and the water of Wanghu building was like the sky

9. Blockchain is originally a physical concept, which is decentralization. But now this concept has been introced into the financial field, resulting in a lot of ICO. This is a typical new financial phenomenon caused by the concept of new technology< In this regard, I can sum up a few points:
1. We can pursue decentralization in scientific research, but economy and finance belong to the category of social operation and management. From the perspective of management, there must be a center (core), otherwise it can not run orderly and orderly management. Therefore, this decentralization itself is fundamentally against the basic principles of deconstruction management, and is contrary to the social and economic management of any country (no matter what system it is). This contradiction cannot be reconciled. No manager can accept and tolerate it
2. The ICO, represented by bitcoin, derived from the concept of blockchain, advocates the so-called decentralized concept and does not or opposes and evades supervision. It's against the law. Because issuing currency is the exclusive monopoly power of a sovereign state or a political entity with a certain sovereign nature (at least having its own fiscal and monetary policies). Unless this can be overturned, and the right to issue currency can be seized or released from the power of sovereign countries, then it can be regarded as financial innovation. Otherwise, it will be illegal
3. The essence of finance is the coexistence of income and risk, which is to grasp the balance between the two (from a certain period of time or a special local area, it may be possible to weigh the weight temporarily, but in the long run and as a whole, it is necessary to pursue the balance. Therefore, high income must have high risk, and high security (low risk) must have low income. Those who advocate low-risk and high-yield are cheating naked. In addition, whether it's banks, insurance companies or funds, securities or investment companies, it doesn't matter which form these financial institutions are. But as long as you take other people's money, you must accept supervision. This is a basic principle and premise. ICO also took the money of the customer investors, but they took a seriously mysterious theory of blockchain decentralization, which they did not know why. They tried to mystify it, preached not to regulate it, and even instilled the so-called high-yield (for the risk, they took care of it). Therefore, judging by the above two criteria, it is cheating and illegal.