Blockchain trade

1.

blockchain is a new technology, not a disguised form of MLM. It is just claimed by many MLM organizations as "blockchain". In fact, there is no technology. It's just a practice of MLM under the name of "blockchain". The state has issued several announcements to crack down on this kind of MLM. The following is the Xinhua news report on MLM of blockchain:

blockchain is not equal to virtual currency, but also has security risks. Behind the popularity, there is exaggeration with "ulterior motives". Only by removing the flashiness, can the blockchain return to its real application value

invest 80000 yuan, change to 800000 yuan after three months? Shenzhen police cracked a huge fund-raising fraud. Under the guise of blockchain concept and 10 times income, thousands of investors were deeply involved in the case, involving up to 307 million yuan. Under the "veil of mystery" of the blockchain, the illegal elements have taken advantage of their own tricks, and the blockchain has become a "signboard" of economic crimes such as fraud and pyramid selling

why is the blockchain repeatedly "misused" by illegal activities such as pyramid selling fraud? In addition to "unknown", what is the "function" of blockchain technology itself? Since the beginning of this year, with the increase of supervision and the cooling of currency speculation, new opportunities have been brought to the development of blockchain. How about the implementation of blockchain commercial "application" The reporter of outlook news weekly recently concted an investigation

when the three-month "capital release period" promised by the trading platform expired and the staff began to "kick" in the QQ group, Tang Haiyan, who lives in Bao'an District of Shenzhen City, realized that she might have been cheated

previously, Tang Haiyan invested 80000 yuan to buy a virtual currency called "ordinary silver coin" under the introction of her classmates“ The other side said that this currency is the most advanced blockchain technology at present, with Tibetan tea as collateral. He also showed me the "technical white paper". I didn't understand blockchain, so I didn't read it carefully. "

although she doesn't know about blockchain and virtual currency, the high investment income makes Tang Haiyan full of expectations. She told reporters that companies issuing "ordinary silver coins" will regularly split the virtual currency according to the ratio of 1:10, which means that each split will make the value of "ordinary silver coins" in the hands of investors expand 10 times. As long as after a split, her investment of 80000 yuan is equivalent to the purchase of 800000 yuan worth of "ordinary silver coins", which can be sold on the trading platform to obtain huge profits

according to the rules of the trading platform, the newly purchased "ordinary silver coin" cannot be traded immediately, and it must be frozen on the platform for three months before it can enter the "release period". However, after three months, not only did Tang Haiyan not wait for the assets to double, but the 80000 yuan frozen on the platform could not be used for trading

"other investors began to question the authenticity of this investment in QQ group. As a result, the staff of the company kicked these investors out one by one, which made me feel bad." She said

The fact also proves Tang HaiYan's intuition. At the end of March 2018, Shenzhen police detected a huge fund-raising fraud, with the amount of fraud funds as high as 307 million yuan. In this case, Shenzhen Puyin blockchain Group Co., Ltd. involved in the case issued virtual currency in the mode of "blockchain + Tibetan tea" to obtain public deposits. Tang Haiyan was one of the thousands of victims

Shenzhen police investigation found that the company claimed that investors could buy and sell "ordinary silver coins" on the virtual trading platform "jucoin net" to earn a price difference

. In fact, the change of its trading price is that the company used investors' investment funds for behind the scenes operation, and once raised the price of "ordinary silver coin" from 0.5 yuan to 10 yuan, so that investors can taste some sweetness. When a large number of investors entered the market, the company continued to cash out through malicious manipulation of the price trend of "ordinary silver coin", which eventually led to the worthlessness of "ordinary silver coin" in the hands of investors

since 2018, engaging in fraud and pyramid selling under the banner of blockchain has become a common "routine" in new criminal tactics. In April 2018, Jinan police dropped a pyramid selling Gang under the guise of "western development", "national poverty alleviation", "original stocks", "blockchain" and "e-commerce", arrested more than 10 major suspects, frozen more than 100 accounts involved, and seized more than 300 million yuan of funds involved

according to Jinan police, huileyi e-commerce company designed a fake virtual disk on the Internet on the ground that the country is vigorously developing the big data instry, and released a variety of virtual currencies such as "precious currency" and "precious currency"

under the guise of giving away, they presented a certain amount of virtual currency to the New MLM staff, with the price of tens of yuan each. Then, through artificial manipulation, they appreciated the virtual currency all the way to more than 100 yuan or even hundreds of yuan, attracting people who did not know the truth to join. Finally, they "cut leeks" through the periodic fluctuation of the so-called "devaluation" of virtual currency, Finally, the purpose of seeking illegal interests is achieved

in Xi'an, a few days ago, the local police successfully cracked a huge network pyramid selling case under the banner of blockchain. According to the police, the suspect, Zheng Mou, has paid a high salary to the 9 network members, such as Zhang and Lee. Since March 28, 2018, he has gathered pyramid selling and network pyramid selling as a means to sell the virtual Datang coins at the consumption era network platform at the price of 3 yuan each, and manipulate the appreciation rate; p>

at the same time, promotion meetings were held in many cities at home and abroad to attract members. According to the development of members, 28 level agents were set up. In just 18 days, the gang developed more than 13000 registered members. At present, it has been found that the case involves 31 provinces, cities and autonomous regions in China, and the fund involved is as high as 86 million yuan

according to Tencent's 2017 pyramid selling situation awareness white paper released by Tencent security joint laboratory, in recent years, all kinds of overseas capital disk, virtual currency and ICO (initial public offering token financing of blockchain project) projects have emerged in an endless stream, which hide many risks such as illegal issuance, untrue projects, cross-border money laundering, fraud and pyramid selling, As a result, a large number of funds flow overseas. Once the market collapses, runs away or loses contact, investors often have no way to complain and the losses are difficult to recover. For example, Baichuan coin, mark coin, beta coin, dark coin, etc

the reporter of lookout Newsweek interviewed in Guangdong, Shandong, Shanghai and other places and learned that most people know that the concept of blockchain is very popular, but they "don't know where it is", and there are different opinions on the specific functions of blockchain: some people think it is used for "investment and financing", "buying and selling currency", while others think it is "a major invention of the same magnitude as the steam engine", Some entrepreneurs are even more eager to seize this "once-in-a-lifetime opportunity to get rich."

many people in the instry said that it is precisely because people have many misunderstandings about blockchain that criminals have opportunities to fish in troubled waters and mislead investors

First, blockchain is not equal to virtual currency. By the end of last year, the number of domestic ICO participants and the total volume of transactions have doubled, a large number of digital currency exchanges have fled overseas, and the agent investment mode has involved more ordinary people in high-risk investment

in many instries, we media and celebrities form interest alliances with issuers and digital exchanges to endorse and create public opinion for the "air currency" project. In December last year, nine departments including the people's Bank of China identified ICO as "suspected of illegal fund-raising, financial fraud, pyramid selling and other illegal and criminal activities"

in the interview, many people told our reporter that the existence of token has built a set of rights and interests mechanism for the development of blockchain technology, which is indispensable for stimulating the prosperity of blockchain applications“ The market practice in the past five years has proved that blockchain applications without equity mechanism are just like market economy without computers connected to the Internet and money, with greatly reced application scenarios and development speed. " An investor in Shanghai said

in fact, the token represented by bitcoin is only one of the earliest procts to verify the blockchain technology, and the two can not be equated, and the existence of token has obviously negative effects on the development of blockchain

Xiao Wei, chief engineer of network blockchain, told this reporter that the myth of ICO's sudden wealth shakes the R & D concentration of blockchain technical talents, and the myth of "sudden wealth" with hundreds of times of return tests the patience of blockchain technical R & D talents“ Many of the "comrades in arms" in the circle who used to do research and development of blockchain technology have gone to issue coins, and now few of them can insist on doing research and development and application of technology. "

Xu zewei, Secretary of the Party committee of Beijing Internet Finance Instry Association, said that under the background of China's ban on ICO, many domestic start-ups promoting blockchain applications are "selling dog meat with sheep's pawn" and financing through concept packaging of worthless tokens“ ICO has polluted the good atmosphere of innovation and entrepreneurship, and created a kind of speculative proct. Many young people are not thinking about entrepreneurship, but are thinking about issuing money, which makes us have the illusion of getting rich overnight. "

at present, more and more people in the instry begin to think about whether the development of blockchain must rely on the issuance of tokens to achieve incentives. Guo Dagang, Secretary General of Beijing Internet Finance Instry Association, told this reporter that the so-called incentive mechanism is only the theoretical basis for the project party to issue tokens for itself. Huo Xuewen, director of Beijing Municipal Bureau of financial work, also believes that if blockchain does not get rid of the dilemma of issuing currency, it will never find a legal landing mechanism

secondly, blockchain is not omnipotent and its security is at risk. Blockchain is generally considered to achieve three functions:

first, the data stored on the blockchain can not be tampered or forged, and the data has high credibility and credibility; Second, the whole process of the transaction can be traced, which can achieve accurate responsibility tracking; Third, the embedded smart contract in the blockchain can be executed automatically based on the contract, so as to improve work efficiency and rece the risk of default. It is generally believed that blockchain has broad application prospects in finance, logistics, trade and other fields

in fact, blockchain is not omnipotent, and its function has many limitations. It is generally believed that, according to the characteristics of cryptography, in order to tamper or falsify in the blockchain, more than 51% of the nodes need to be controlled in theory. When there are enough nodes in the blockchain, it is difficult to tamper with the trust creation mechanism widely participated by the public

However, in reality, digital currency exchanges are frequently attacked or even stolen. On June 20, 2018, bithumb exchange of South Korea announced on its official website that the exchange had been attacked by hackers and stolen 35 billion won, about 32 million US dollars of cryptocurrency

Ji Xinhua, known as the first generation of "hackers" in China, said that the blockchain will continue to face attacks, and the process of uploading data to the blockchain is prone to information leakage. Some people in the instry worry that once the super computing power of quantum computing is realized, it will also have a direct impact on the blockchain

Zhao Yao, a special researcher of the Institute of finance of the Chinese Academy of Social Sciences, told this reporter that the academic community has confirmed as early as 2013 that the blockchain is not perfect and there are many "cheating" strategies. As long as there are enough economic incentives, controlling attacks of more than 51% nodes does not only exist in theory

Zeng Guang, Secretary General of Shenzhen Internet Finance Association, said that the blockchain technology itself does not have the ability to do so

2. As of June 17, 2017, the global digital money market volume was US $97.14 billion (about RMB 660 billion), and the 24-hour trading volume was US $5.75 billion (about RMB 39 billion). Meanwhile, as of June 17, 2017, the global average trading volume between digital currency and legal currency was US $5.12 billion (about RMB 35 billion) every 24 hours. With the continuous development of the blockchain market, the trading volume of the blockchain trade market will grow exponentially, which is a good development opportunity for the mbaex website.

3. Principle of blockchain: decentralized distributed accounting system
the core of blockchain technology is that all participating nodes jointly maintain the transaction and database, which makes the transaction based on the principle of cryptography rather than trust, so that any agreed parties can directly carry out payment transactions without the participation of a third party< br />?
technically, a block is a data structure for recording transactions, reflecting the capital flow of a transaction. In the system, the blocks of the transactions that have been reached are connected together to form a main chain, and all the nodes participating in the calculation record the main chain or part of the main chain. A block contains the following three parts: transaction information, hash formed by the previous block, and random number. Transaction information is the task data carried by the block, including the private keys of both parties, the number of transactions, the digital signature of electronic currency, etc; The hash hash formed by the previous block is used to connect the blocks and realize the sequence of past transactions; Random number is the core of the transaction. All miners compete to calculate the answer of the random number. The node that gets the answer the fastest generates a new block and broadcasts it to all nodes for updating, so as to complete a transaction

1.1 what is a blockchain

blockchain is a technical solution to collectively maintain a reliable database through centralization and de trust in the past. This technical solution mainly allows any number of nodes in the participating system to generate a series of data blocks by using cryptographic methods. Each data block contains all the information exchange data of the system in a certain period of time, and generates a data fingerprint to verify the validity of its information and link to the next database block< br />?
generally speaking, blockchain technology refers to a way for the whole people to participate in bookkeeping. There is a database behind all the systems, that is, a big ledger. So it's very important who keeps this account book. At present, whose system is responsible for bookkeeping, the account book of each bank is the account book of each bank, and the account book of each bank is the account book of Ali. But now in the blockchain system, everyone in the system can have the opportunity to participate in bookkeeping. If there are new transaction data changes in a certain period of time, everyone in the system can make bookkeeping. The system will judge the fastest and best bookkeeper in this period, write the recorded content into the account book, and send the content of the account book to all other people in the system for backup. In this way, everyone in the system has a complete account book. As a result, the data becomes very secure. Tamperers need to modify more than half of the system node data at the same time to truly tamper with the data. The cost of such tampering is so high that it is almost impossible. For example, bitcoin has been running for more than seven years, and countless hackers around the world have tried to attack bitcoin, but so far there have been no trading errors. It can be considered that bitcoin blockchain has been proved to be a safe and reliable system< br />?

1.2 why is there blockchain innovation

human beings need to communicate in the process of activities, and communication is based on information. In the past, information circulation was not convenient enough to meet the information needs of market participants, so the intermediary and center were born. This centralized system has the problems of high cost, low efficiency, scattered value, "information island" and unsafe data storage. However, e to technical and environmental factors, this system still continues to operate for many years until the emergence of the Internet. The starting point of the first generation Internet is TCP / IP protocol, which is to implement the open code of peer-to-peer transmission of information in a unified format of all nodes on the network, and to program, protocol and execute the basic values of freedom and equality needed by the global unified market. Internet eliminates the middle chain of low value and high cost, and realizes the low cost and high efficiency of global information transmission by decentralization< br />?< However, the first generation Internet did not solve the credit problem of information. The activities that can be decentralized on the Internet must be those that do not need credit endorsement, and those that need credit guarantee must be those that are centralized and participated by third-party intermediaries. As a result, Internet technology, which is unable to establish global credit, has encountered great obstacles in its progress - people can not participate in any value exchange activities on the Internet in a decentralized way. In order to realize value exchange, people still need the third-party intermediary (such as bank, clearing, exchange) based on credit. There are still some problems in the global centralized credit system, such as high operating cost, low efficiency and vulnerability to attack. For example, the legal currencies of different countries have different credit values and different clearing systems, which increase the cost of Global trade< br />?
therefore, what the second generation Internet must break through is: how to decentralize the establishment of global credit? So that the value transfer is also low-cost and efficient. We need to create a kind of technology in the Internet, which can also engage in value exchange activities on the premise that people can't trust each other, so as to achieve real decentralization and go to the third-party intermediary, and realize the transformation from information internet to value Internet

1.3 application of blockchain

Bubi blockchain has been applied to equity, supply chain, points and other fields, and is carrying out experiments and application tests with exchanges and banks
as an integral application on Bubi blockchain, Shubei Hebao has been launched recently, which is a good demonstration for the landing application of blockchain technology in various instries

1.4 why the financial instry needs blockchain

trust is the foundation of the financial instry. In order to maintain trust, the development of the financial instry has spawned a large number of high-cost, low-efficiency, single point of failure intermediaries, including trusteeship, third-party payment, notaries, banks, exchanges and so on. Blockchain technology uses new encryption authentication technology and decentralized consensus mechanism to maintain a complete, distributed and tamperable account book, so that participants can ensure the security of funds and information through a unified account book system without mutual recognition and trust. This is of great significance to finance. Therefore, global financial giants are exploring blockchain applications one after another. On the one hand, this is to prevent the risk of being subverted; on the other hand, it is also "for our own use" to improve efficiency and rece costs, so as to consolidate, optimize and expand the existing power< br />?
first, blockchain can rece trust risk. Blockchain technology has the characteristics of open source and transparency. The participants of the system can know the operation rules of the system, verify the authenticity and integrity of the account book content and account book construction history, and ensure that the transaction history is reliable and has not been tampered with, which is equivalent to improving the accountability of the system and recing the trust risk of the system. For example, blockchain can avoid the current Internet Financial P2P running, fraud and other events< br />?
secondly, blockchain can improve the efficiency of payment, transaction and settlement. On the blockchain, the process of transaction confirmation is the process of clearing, settlement and auditing. Blockchain uses distributed accounting, all transactions are displayed in real time on a spreadsheet similar to global sharing, real-time clearing, and efficiency is greatly improved. For example, the U.S. securities settlement system is t + 3, but the blockchain can improve the efficiency to the minute level, which can rece the settlement risk by 99%, thus effectively recing the cost of capital and systemic risk< br />?
thirdly, blockchain can rece operating costs. Financial business systems and back office work are often faced with long processes and multiple links. Nowadays, no matter visa, master or all of them operate in a centralized way, money transfer has to go through a third party, which makes the cost of cross-border transaction, currency exchange rate, internal accounting and time cost too high, and brings risks to capital. Blockchain can simplify and automate the lengthy financial service process, rece the interaction between foreground and background, and save a lot of human and material resources, which is of great significance to optimize the financial business process and improve the financial competitiveness. The Bank of Spain believes that by 2022, blockchain technology will help the financial instry rece its bookkeeping costs by $20 billion< br />?
fourthly, blockchain can effectively prevent failures and attacks. The traditional financial model takes the exchange or bank as the center. Once the center fails or is attacked, the whole network may be paralyzed and the transaction will be suspended. The blockchain is supported by many distributed nodes and computer servers on the point-to-point network. The problems of any part will not affect the overall operation, and each node keeps a of the blockchain data. Therefore, the built-in business continuity of blockchain has high reliability and fault tolerance< br />?
fifthly, blockchain can improve the level of automation. Since all files or assets can be represented in the form of codes or ledgers, smart contracts and automatic transactions can be realized on the blockchain by setting the data processing program on the blockchain. For example, a smart contract can write a set of financial terms into the agreement to ensure the automatic execution and default payment of the contract< br />?
sixth, blockchain can meet regulatory and audit requirements. The records stored on the blockchain are transparent, traceable and unchangeable. Any record, once written to the blockchain, is permanent and cannot be tampered with. Any transaction between two parties can be tracked and inquired< br />?
in addition to the above positive effects on existing systems and business models, blockchain can also drive the birth of new business models. On the one hand, the characteristics of blockchain technology enable it to achieve some business models that are difficult to achieve in the centralized mode. On the other hand, blockchain greatly encourages the innovation and cooperation of the whole society through the opening and cooperation of source code. Of course, there will be a lot of problems and challenges in the application of blockchain in finance. This paper also thinks about the specific application

the working principle of blockchain technology is not difficult to understand. If we focus on the application research of specific blockchain technology, we can find that the working principle of this blockchain technology is ubiquitous.

4. Tiger foreign exchange has been committed to using blockchain, big data and other technologies to rece the cost of foreign exchange transactions and make the transactions more transparent and credible

5. Recently, the hottest topic is blockchain. The 24 eldest brothers formed a team to learn blockchain. This event can be regarded as an epic good in the blockchain circle. Starting from the evening of the 25th, bitcoin soared 40% in one day, and then more than n domestic concept coins soared in turn. The whole coin circle was beaten to death. Many aunts in the circle of friends microblog began to study blockchain; On the stock market, the blockchain sector is also very lively, with more than 1000 listed companies claiming to lay out the blockchain field. This shot is really 666. I remember everyone was busy getting rid of blockchain before! It's really forgetful
in a few days, the safe also released the blockchain development plan. It seems that the whole world will be transformed by blockchain. Many people have a kind of blockchain application, which will give the currency transaction and foreign exchange transaction a false identity
blockchain has a natural anti censorship international nature in terms of asset transaction and circulation, and can freely and conveniently circulate without the constraint of traditional concurrent management. On the one hand, there is a great risk, so the safe also said that in China, only RMB can be used for pricing, and anything that may threaten this basis should be prohibited. In a short period of time, it may be difficult for blockchain to achieve anything at the level of foreign exchange transactions. The foreign exchange bureau mentioned the application scenarios of blockchain technology in cross-border trade financing and macro Prudential Management. This direction belongs to the pure technology application direction, which is less related to transactions. At present, it is also the direction that the top priority is to develop, using blockchain technology to optimize the real instry
how to optimize it? Because blockchain has the characteristics of traceability, distributed transparency, tamper proof, etc., for example, in cross-border trade, the data of related parties involved in trade are linked and opened to third parties (such as banks) with permission. In the past, enterprises may need more practical asset mortgage to borrow money from banks, Now, by associating reliable trade data on the blockchain, the bank can know the future cash flow of the enterprise, and can use the operation of the enterprise as asset mortgage to give credit. This will greatly optimize the allocation of assets
another example is the patient information in the hospital. The traditional scenario is that the data of each hospital is independent. Every time you go to a new hospital, you will be asked to do a booklet or a set of examinations. If there is a medical chain open to all hospitals and all information is recorded in this account book, you can avoid a lot of plication and simplify efficiency
it is clear that the priority is to develop blockchain technology to optimize and transform traditional instries, with the focus on the combination with the real economy. I am also very optimistic about this, but in terms of asset trading, the expectation of currency trading and foreign exchange trading should not be too high. After the excitement, it will be calm. FX technology, fxmap in Assa community

6. Ant blockchain is still very popular in various applications. Recently, there are many reports about them in the news. Ant chain restarted a project of Mr. Ma 19 years ago and released the trustle platform to solve the problem of mutual distrust between buyers and sellers in traditional foreign trade. According to their introction at the press conference, trustle platform is based on ant chain. Through cooperation with banks, it realizes the full link intelligent performance of cross-border trade and ensures the smooth collection of sellers. At the same time, sellers can accumulate credit through online transactions on the platform and obtain more affordable financial services in banks. If you have this need, you can go to their official website to find staff for detailed introction.

7. There are some pain points, such as large-scale digital asset suppliers have not yet entered the market, diversified digital asset investment procts have not yet appeared, the service quality of the business is low, the technical architecture is primary, the proct experience is poor, the security and stability is low, and the multilingual support is missing. It is because of these pain points that mbaex blockchain asset website can more accurately find the development direction.