Regulations, standards and policies of blockchain industry
Original title: China's blockchain instry market status and development trend analysis in 2019, widely used to accelerate the construction of Digital China. Basically, a relatively mature instrial chain has been formed. With the promotion of national policies and the increasing demand of downstream application fields, the market scale of China's blockchain instry is constantly developing, the regional concentration is high, and the instrial cluster effect is obvious. With the increasing maturity of blockchain technology, the blockchain instry is entering the 3.0 stage as a whole. It has a good performance in finance, logistics, right protection and other fields, and has made great contributions to promoting China's digital construction and accelerating the process of Digital China
instrial chain analysis of blockchain instry: there are many downstream application fields with huge development potential
from the perspective of instrial chain, China's blockchain instry includes upstream hardware, technology and infrastructure; Midstream blockchain application and technical services
application fields of downstream blockchain. The upstream hardware, technology and infrastructure mainly provide the necessary hardware, technology and infrastructure support for blockchain application. The hardware equipment includes mining machinery, ore pool, chip manufacturer, etc; General technologies include distributed storage, decentralized transaction, data service, distributed computing and other related technologies
the downstream application fields include the combination of application blockchain technology and existing instries, mainly including financial instry, logistics instry, right protection, medical health, instrial energy and many other fields. As an emerging technology, blockchain has many downstream application fields and great development potential
the application and service of midstream blockchain includes the construction of infrastructure platform and the provision of technical service support. The construction of infrastructure platform is divided into general infrastructure chain and vertical domain infrastructure chain; Technical service support includes technical support and service support. Similar to upstream technology, technical support is responsible for providing buyers with a series of technical support based on blockchain procts, such as blockchain security protection; Service support includes a series of services such as digital asset trading place, digital asset storage, media community, etc
instry chain analysis of blockchain instry Most of 360 and other enterprises use their own financial companies to apply blockchain technology to launch a new mode of blockchain + finance and broaden the application scenarios of blockchain technology
With the continuous development of China's blockchain technology and the continuous expansion of blockchain application fields, China's blockchain instry will become the forefront of global technology development and open up a new international competition track in the future2. Blockchain has become a new hot spot for innovation and entrepreneurship, and technology integration will expand new application space
3. Blockchain will be widely implemented in the real economy in the next three years and become an important support for the construction of Digital China
4. Blockchain creates a new platform economy and opens a new era of sharing economy
5. Blockchain accelerates the process of "credible digitization" and drives finance to "move from virtual to real" to serve the real economy
The blockchain supervision and standard system will be further improved, and the instrial development foundation will continue to be consolidatedBlockchain itself is not illegal, but if it is used illegally, it is illegal
Li Bin, deputy director of Chongqing big data application and development administration, said that as a disruptive innovative frontier technology in the field of big data intelligence, the Chongqing municipal government attaches great importance to active layout, and the municipal government and Yuzhong District Government jointly build a blockchain base. In the second half of last year, the government issued the opinions on accelerating the cultivation and innovative application of blockchain instry, It has officially launched the construction of a place for strategic innovation of blockchain
while actively encouraging the technological progress and instrial development of blockchain, we will resolutely prohibit the illegal use of blockchain technology in accordance with the requirements of relevant national policies
at present, China's blockchain technology and application continue to innovate, and are graally applied in supply chain finance, credit reference, proct traceability and other fields, with huge development space. As a new technology, if blockchain wants to realize large-scale practical application, it must strengthen the cooperation of instry, University, research and application, and promote the continuous development and maturity of technology and application
since 2017, the development of blockchain technology has aroused the deep concern of the government, enterprises and other sectors. Because of its decentralized, tamperable and traceable characteristics, blockchain attracts investors to add weight to this new technology field. For the previous hot speculation of blockchain technology, the cognition of it and investment circles has become increasingly rational
extended data
"Regulations on the management of blockchain information services (Draft)"
Article 9 blockchain information service providers and users shall not use blockchain information services to engage in activities that are prohibited by laws and regulations, such as endangering national security, disrupting social order, and infringing the legitimate rights and interests of others, and shall not use blockchain information services to proce and use blockchain information services Copy, publish and disseminate information prohibited by laws and regulations
Article 13 a blockchain information service provider shall, as the case may be, take such measures as warning, limiting functions, closing account numbers, etc. for users of blockchain information services who violate laws, regulations and service agreements, so as to timely eliminate illegal information, prevent information diffusion, keep relevant records, and report to relevant competent authorities
Article 18 If a blockchain information service provider, in violation of the provisions of Article 9 of these Provisions, makes, copies, publishes and disseminates information content prohibited by laws, regulations and relevant national regulations, the Internet Information Office of the state, provinces, autonomous regions and municipalities directly under the central government shall give a warning and order it to correct within a time limit according to law
if the circumstances are serious or refuse to correct, the service shall be ordered to suspend, and a fine of not less than 5000 yuan but not more than 30000 yuan shall be imposed, until the relevant departments close the service according to law. If a crime is constituted, criminal responsibility shall be investigated according to law
If a blockchain information service user violates the provisions of Article 9 of these provisions and makes, copies, publishes and disseminates information content prohibited by laws and regulations and relevant national regulations, the Internet Information Office of the state, provinces, autonomous regions and municipalities directly under the central government shall deal with it in accordance with relevant laws and administrative regulations
Article 19 If a blockchain information service provider violates the provisions of Article 6 of these provisions and fails to mark its record number on its network platform, the Internet Information Office of the state, provinces, autonomous regions and municipalities directly under the central government shall order it to make corrections within a time limit according to its ties, and if it refuses to make corrections, it shall be given a warning and fined not less than 5000 yuan but not more than 10000 yuan
Article 20 If a blockchain information service provider violates the provisions of paragraph 1 of Article 4 of these provisions and fails to go through the filing proceres in accordance with these Provisions, the Internet Information Office of the state, provinces, autonomous regions and municipalities directly under the central government shall order it to make corrections within a time limit according to its ties, and if it refuses to make corrections or if the circumstances are serious, it shall be given a warning and fined not less than 10000 yuan but not more than 30000 yuan
Article 21 if the blockchain information service provided by the blockchain information service provider has potential information security risks, the Internet Information Office of the state, provinces, autonomous regions and municipalities directly under the central government shall, according to its ties, order it to rectify and suspend the service within a time limit, and continue to provide information services until it meets the relevant requirements of laws and regulations and national mandatory standards after rectification
if the blockchain information service provider violates the provisions of Article 4, paragraph 2, Article 8, Article 11, Article 12, Article 15 and Article 16 of these Provisions, the state and local Internet Information Office shall give a warning and order it to correct within a time limit according to its ties; If the circumstances are serious or if he refuses to make corrections, he shall be ordered to suspend service and be fined not less than 5000 yuan but not more than 30000 yuan; If a crime is constituted, criminal responsibility shall be investigated according to law
if the blockchain information service provider violates the provisions of Articles 10, 13 and 14 of these Provisions, it shall be handled by the Internet Information Office of the state, provinces, autonomous regions and municipalities directly under the central government in accordance with the provisions of the network security law of the people's Republic of China
the current blockchain project compliance is divided into two sections:
first, blockchain coin issuing project compliance: Foundation + legal compliance opinion
often referred to as ICO, IEO, etc. first of all, we build overseas entities. Generally speaking, most coin issuing entities choose Singapore foundation. It is a non-profit company in the form of XX Foundation Ltd. Finally, a legal compliance opinion is issued by a Singapore lawyer. The content of the legal opinion includes the amendment of a white paper and the token non securitization certificate, which is mainly to make the project comply with the laws of Singapore. This legal opinion is also needed for the later docking of the project with the currency on the exchange< Second, blockchain exchange project compliance: subject company + digital currency trading license:
license is one of the important compliance documents of the platform. It is equivalent to a business license. In particular, after Huoyuan won the Japanese license, the US license and applied for the Canadian license, the license was pushed to a new height. Obtaining the US MSB license also means that the company can reasonably conct business in most states of the United States. This is the reason why the major platforms have started to apply for licenses. If they want to carry out business formally and legally, they have to apply for licenses
for example: MSB digital currency exchange license in the United States, MTR digital currency + Wallet al license in Estonia, austrac digital currency license in Australia, etc
the role of MSB license in the United States:
1. American MSB license is famous, packaging platform and good publicity
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3. It can increase the trust of customers, enhance their visibility, and make the platform develop better and faster in compliance
advantages of MSB license
1. Investor recognition - Corporate Law and financial instry regulation in the United States are very perfect. With a U.S. license, your digital currency trading platform will be more recognized by global investors
2. Get authoritative approval - with the authoritative approval of the U.S. Treasury Department, you can carry out relevant business in the United States and around the world, which represents the compliance supervision of digital currency platform
3. Become a first-line platform -- MSB license is also a standard license for global digital currency trading institutions. Coinbase, bitfinex, poloiex, hotcoin.com, OK, coin security exchange and other platforms all hold this license to operate
4. Diversified services - MSB license allows currency exchange and delivery services, so that you can better meet customer needs and provide more diversified services
why is the license so important for the trading platform? First of all, people in the traditional foreign exchange circle know that the foreign exchange platform has the importance of supervising the license. Even such a traditional mode will create a future trading platform. Therefore, the license plate is bound to become a trend of development
after registering the main body of the foundation, we still need to do later legal compliance, the main purpose is to draw a clear line between law and crime, but I said it doesn't count. Because digital token is indispensable for blockchain. To put it bluntly, digital currency drives the popularization of blockchain in China, but what's the fact? Digital currency is just a small application of blockchain technology
e to the particularity of the instry, At present, there are no formal laws and regulations to restrict its development, involving a wide range of violations:
pyramid selling
illegal fund-raising
money laundering
absorbing public deposits
illegal operation
transnational foreign exchange crimes
providing more convenience for terrorist financing
therefore, different countries in the world have different attitudes towards blockchain, and China is explicitly prohibited, So we all go overseas to develop projects, such as Singapore and Thailand. First, the local laws and regulations are required. Who has the final say in the matter of whether the project is legal? There are two ways: to apply for a formal digital transaction license or to rely on a legal opinion issued by a lawyer. At present, the latter is in the majority, easy to operate and low cost.
In 2014, Barry Silbert, founder of secondmarket, separated the bitcoin investment fund from the original company and established grayscale investments
in 2015, gray investment company was merged into the newly established digital currency group (DCG). DCG is not only focused on digital currency and blockchain investment, but also an incubator for start-ups. In addition to gray investment company, DCG also has two subsidiaries, namely, genesis, a cryptocurrency OTC broker, coindesk, a blockchain news and information website, and more than 150 other blockchain companies / projects invested
after years of development, gray investment company has become the largest cryptocurrency asset management company in the world, and its cryptocurrency trust scale has reached US $2.58 billion
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extended information:
in 2013, Barry Silbert, the founder, convinced the board of directors of secondmarket company to set up a bitcoin investment fund called bitcoin investment trust, which is the predecessor of gray scale bitcoin trust. It was not until September 2017 that gray investment's bitcoin trust fund began to grow explosively
it has become the largest bitcoin investment trust in the world, with more than 408500 bitcoins, nearly 2% of the total. In addition to bitcoin trust funds, gray investment company also launched BCH, ETH, etc, horizon, LTC, XLM, XRP and Zec trust funds, as well as grayscale digital large capital fund with mainstream currencies. Gray investment company's cryptocurrency trust procts provide convenience for institutional users to purchase cryptocurrency