Progress of 2017 blockchain
The following are the reasons why 2017 will be the most critical year for blockchain:
the lasting value of bitcoin
bitcoin, the initial tool of blockchain, ended 2016 with a high profile, which is a good omen
just after the new year, fortune reported that
"after the prosperity of 2016, the price of bitcoin has reached $1000, which has increased by 120% since the beginning of this year, and recently reached the highest point in three years. The reasons, including the devaluation of RMB, the risk of China's currency control and geopolitical instability, have been considered as the key factors for the success of cryptocurrency. Another reason for bitcoin's landmark year is its staying power - the longer it stays, the more familiar it will be, and more like a real store of value. "
whether it is fair or not, the feasibility of blockchain technology is always closely related to the performance of bitcoin. If the decentralized database can succeed in the financial field, it can also be widely used in other places. According to convention, the healthy development of digital currency has triggered a discussion on how to integrate blockchain into new areas. With healthy bitcoin, blockchain can expand rapidly in other fields
existing participants
of course, this has existed for some time, because the blockchain has been firmly bound to bitcoin. Over the years, many groups have invested a lot of money to apply the technology to a wider range of areas, while adding new features and creating new applications. If 2017 is a great year for blockchain, these existing players must be ready to grow with it
this trend is marked by the addition of 8 new members to the hyperledger project before the end of 2016. Software company CA technologies, blockchain project factcom foundation, healthcare alliance hashed health, Korean koscom, accounting company ledgerdomain, trade ecosystem developer lykee, sovrin foundation and telecom company Swisscom all joined in the project
Thehyperledger project has entered 2017 with an eye-catching membership list, and plans to introce blockchain feasibility case studies in actual use cases
new investment
the sign that the technology will make progress this year is that companies all over the world have laid the foundation for using blockchain status. Companies around the world applied for or accepted 356 patent applications related to blockchain or digital currency in November last year, almost double the number in the first month of 2016, according to the report of blog technology
Marc Kaufman, financial technology intellectual property expert at Reed Smith, told blog:
"we have witnessed an exponential growth in the number of patent applications, and we expect to see thousands of blockchain patents in the next five years."
the company is submitting patents in such a rapid way because the blockchain has finally achieved its goal from Utopia to digital ledger tool. With the increase of the number of patents, the new discovery of the index blockchain will enjoy wider legitimacy in 2017
it is only time to know the development trend of blockchain in 2017, and vice versa. However, it is obvious that the status of blockchain technology can be seen by all, which also proves the expectation of early investors for its potential and may develop new potential in the future
blockchain has also become a hot topic in the financial sector in China, and all major domestic financial institutions have tested blockchain projects. China Post and IBM have jointly developed a set of blockchain asset custody system; Puyin group launched the tea based digital currency Puyin
driven by policy and market, China's blockchain related instries are expected to move from virtual to real
in the context of rapid development of blockchain, China should comply with the needs of globalization, keep up with the international pace, and actively promote the research, standardization and instrialization development of domestic blockchain related fields. Compared with the increasingly stringent supervision of bitcoin and other digital currencies, the support and encouragement of blockchain technology has reached a consensus in the world, and the domestic blockchain technology will also receive national and local policy support in the next few years. Driven by policy and market, blockchain related instries are expected to move from virtual to real, and blockchain technology will accelerate the exploration of possible application scenarios< According to the data of the "in depth analysis report on business model innovation and investment opportunities of blockchain instry" released by foresight Instry Research Institute, the global blockchain market scale is expected to increase from US $411.5 million in 2017 to US $7683.7 million in 2022, with a compound annual growth rate of 79.6%. In view of the wide application range of distributed ledger, the rising market value of cryptocurrency, the strong demand for improving transparency, security, efficiency and simplifying process, and the popularity of blockchain as a service (
baas), the blockchain market will expand rapidly. In addition, communication services, international trade, supply chain management, programming platform, payment, smart contract, digital authentication and so on are also in urgent need of blockchain technology, which will create a lot of growth opportunities
as an integrated application of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other technologies, blockchain has become a research hotspot of the United Nations, the International Monetary Fund and other international organizations as well as many national governments in recent years, and the instry has also increased investment. At present, the application of blockchain has extended to the Internet of things, intelligent manufacturing, supply chain management, digital asset trading and other fields, which will bring new opportunities for the development of cloud computing, big data, mobile Internet and other new generation information technology, and have the ability to trigger a new round of technological innovation and instrial change
by 2022, the payment sector may occupy the largest share of the blockchain market
relying on blockchain technology, real-time payment of assets can be realized, which not only has the characteristics of tamper proof and digital authentication, but also can greatly save the cost of settlement for financial institutions and banks. In addition, blockchain makes payment automation possible, eliminates the need for middlemen, and saves labor costs and time for buyers and sellers. Thanks to the above advantages, it is expected that the payment sector will be the heaviest one in the whole blockchain market
the fastest growing region will be the Asia Pacific region.
blockchain service providers in the Asia Pacific region are good at designing and developing cryptocurrency platforms with friendly interface, cost saving and high speed, and extending the application of blockchain in many instries. Both large enterprises and small and medium-sized enterprises are actively seeking risk financing, investing in and developing the most cutting-edge blockchain technology. In addition, the real estate instry of some countries in the Asia Pacific region is expected to rapidly transform from translucency to full transparency, which also helps to enhance the development prospects of blockchain in the Asia Pacific region.
in terms of currency price, the bull market should still be in 2019 as a whole, because bears are long and cattle are short
there will be more breakthroughs and developments in technology and commercial applications in 2019.
-- for the above data sources and analysis, please refer to analysis report on market outlook and investment strategic planning of China's blockchain instry of foresight Instry Research Institute
the research process of instry technology is constantly advancing
in recent years, the research process of global blockchain technology has accelerated, and the number of instry patent applications has increased rapidly. According to sopat statistics, from 2014 to 2018, the number of global blockchain patents continued to rise, and by 2018, the number of global blockchain patent applications had reached 2966. Among them, the number of patents in China's blockchain in 2018 accounted for 33.33% of the total number of patents in 2014, and increased to 82.1% in 2018
however, despite the continuous development and innovation of global blockchain technology in recent years, there is no universal evaluation standard and system to specify the technical performance, efficiency, scalability, security and other issues of blockchain. On the whole, blockchain technology needs further breakthrough
China's blockchain technology tends to serve applications
in terms of technology, the core of China's blockchain technology is to serve physical applications, while the US blockchain technology is still solving the potential problems of blockchain, which leads to the domestic focus on alliance chain applications, We hope to optimize the blockchain technology to meet the requirements of high concurrency applications; Foreign countries focus on the application of public chain, and carry out the optimization and innovation of core technology according to the characteristics of public chain. In terms of application, domestic blockchain focuses on the application of service instry and tends to be "non currency blockchain"; Most of the U.S. is a public chain, which tends to the circulation of digital assets
as people's misunderstanding of blockchain technology graally dissipates, we will see that next year, the financial services, insurance and medical instries will carry out comprehensive deployment of blockchain technology
blockchain technology will subvert our payment system internationally - the old profit model and other processes will become obstacles, and payment will become faster, cheaper and safer
however, as blockchain becomes more and more mainstream, we can no longer ignore the main obstacles on its development path. For example, the banking instry must develop a clear roadmap for blockchain adoption and cooperate on the basis of global standardization
2, the standardization process is about to start
with the more and more extensive application of blockchain, it will become extremely important to establish standardization methods between each other. But there are complex and political processes that can get in the way - there are conflicts of interest between instry organizations, and companies are trying to gain a clear advantage
with the implementation of various blockchain schemes, we will see that the situation will change to the process of standardization and integration. Once competing organizations graally realize the benefits of alliance and start to accelerate the trade process, strengthen detection and optimize data management
in 2017, there may be only a few dynamic blockchain alliances left, but instry players will have to cooperate and reach an agreement on a flexible and universal open logo. Governments and regulators will also play an important role in protecting consumers and encouraging innovation
stakeholders driving the development of blockchain standards will need to be creative and can envision a future in which these standards can be used to create new and powerful tools
3, fintech is accelerating development
fintech is bringing great changes, from simple payment to complex global financial operations are being subverted by it
the in-depth changes that are expected to happen next year are as follows:
blockchain combined with machine learning can jointly accelerate the existing process and optimize efficiency
emojis, payment, will be more widely used, and mobile devices will become more and more secure
lending network will become one of the hottest areas of blockchain
all countries in the world will be more interested in the development of digital currency
4, it's time to subvert the field of payment
in the field of payment transaction, blockchain technology is used to overcome the problems existing in the agent banking system and international remittance
there are many proceres and incoherent processes in cross-border non cash transactions, which can be eliminated by eliminating the third-party institutions, direct currency transfer and efficient inter-bank settlement. This possibility of creating a competitive market for liquidity providers may ensure the optimal exchange rate for international exchange and payment transactions
payment systems are based on local banking regulations and practices, but lack of common standards, which reces the ability of seamless transmission of data and background information, and brings settlement and non settlement risks
the extensive implementation and use of blockchain will change and subvert the existing financial services instry and payment system on a global scale
in addition, although the blockchain was very popular in 2016, there was very little substantive progress. Only coin Ying China and China Post really put it into practice, and other projects just stayed in the theoretical stage.
1. Decentralization
the core advantage of blockchain technology is that it does not need a traditional centralized organization, and does not rely on the point-to-point transaction, coordination and cooperation of a credit center in the distributed system, so as to avoid the common problems of data security, collaborative efficiency and risk control of centralized organizations
2. High security
in blockchain technology, data is difficult to tamper with. Anyone can access the database that records transactions. In this transparent and open mode, everyone can act as a supervisor. We can see at a glance what changes have taken place in the data, which is more secure than traditional technology
3. More reliable
the blockchain technology is connected by multiple nodes in different places. The nodes in the blockchain interact through the point-to-point communication protocol. Under the condition of ensuring the consistency of the communication protocol, different nodes can be processed by different developers using different programming languages and different versions of the whole node
in short, when a node encounters network problems, hardware failures, software errors or is controlled by hackers, the operation of other participating nodes and systems will not be affected
therefore, blockchain is more reliable than traditional technology
therefore, I firmly believe that the application of blockchain must be the development trend in the future.
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
after entering Nantou checkpoint, there is a big bus station. Take bus No.301, 323, 327, 311, 319, 367 there. Just take 5 or 6 stops to get off at He Xiangning Art Museum and walk forward, or get off at Jinxiu Zhonghua station and turn around. The subway station serves as a Cross Street tunnel. Just cross Shennan Avenue from the subway station to the opposite side.