Market analysis: OKB soared, what did Xu Mingxing say?
Xu Mingxing appeared on CCTV, which was unbelievable, and then OKB soared.
This time Xu Mingxing's speech in Hainan is particularly important. What did he say? Yesterday we just talked about some content about Bitcoin. In fact, the content of his speech is very in-depth.
The content of the speech is about 4,000 words, and the speech time is about 20 minutes. After reading the full text of his speech, I also benefited a lot. The content is refined and in-depth. If you have time, be sure to read it patiently.
If you are afraid of being boring and feel unable to watch it, now imagine that you are the leader of the conference. A middle-aged man with glasses slowly comes to the stage and starts to make a report to you:
Dear leaders, today I will share with you our practical experience and insights in the blockchain industry from the perspective of an entrepreneur in the blockchain industry.
First of all, the blockchain is a database technology, a computer technology used to store data, and it has been developed for many years. Blockchain database is a distributed data, it is not a stand-alone database in the past.
The progress of database technology has greatly promoted the development of Internet technology in the past 20 years.
Yahoo has made all the web pages in the world into a navigation website, which is an Internet website that sorts information into categories.
As there are more and more web pages on the Internet, we can't find the web pages we need, and databases appear at this time.
Therefore, representative companies of database technology include companies such as Google and Baidu, which can retrieve a large amount of massive data on the entire Internet.
With the development of database technology and the power of relational databases, the current database technology is sufficient to support many financial transactions and e-commerce businesses.
With the progress of companies like Oracle and companies like Taobao and Ebay, we can handle massive transactions.
Then, with the continuous advancement of this technology, new database technologies have emerged, such as file database technology.
These technologies underpin applications such as Weibo Kuaishou. When I was working in the Internet industry, it was hard for me to imagine that today's applications can handle hundreds of millions of videos every day.
The advancement of new database technology allows us to easily store a large number of videos, and to watch live broadcasts infinitely with mobile phones.
Then the blockchain is also a kind of database, what kind of new applications this kind of database will bring to mankind, wait and see!
What are the characteristics of a blockchain database? First of all, it is a point-to-point data, and this database storage is built on the basis of the modern Internet, and its storage nodes are distributed throughout the network.
It is not hosted by a single individual or business, so we call it a peer-to-peer database.
Such a database, it is not efficient. But because Internet technology is very powerful now, we no longer care about bandwidth costs and storage costs, so we can build such a point-to-point database. Damage to some nodes, or even damage to some network channels, does not affect the healthy and efficient operation of the database.
So, what kind of data does such a database store? We see most of the current blockchains, which store all transaction details, or data details, in the network.
Blockchain is called blockchain in English. Each block is a data block. There will be some indexes in this data block. Finally, through some data structures of the computer, these blocks are connected, and the data is quickly retrieved through some mathematical algorithms. or verify.
Therefore, the blockchain stores a complete database, and everyone can access the complete database.
Of course, it protects privacy by encrypting the public key and private key, and only the relevant parties can view this data.
For such a database, what can a point-to-point database with full storage be designed to do? This approach seems pretty stupid.
The process of making a transaction on the blockchain is roughly like this, if there is a user A who wants to send a transaction to user B.
At this time, he will broadcast the transaction to the whole network, saying that I am going to send a transaction to that person, and everyone will receive the transaction, but most transactions have nothing to do with it, so they throw it away.
Then there is a kind of person in this network, we call it bookkeeper, some blockchain networks rely on elections, and some blockchain networks rely on authority. The process of how to determine the bookkeeper is called a consensus algorithm. Different blockchains have different consensus mechanisms. These bookkeepers have verified the transaction, whether it is fraudulent, whether there is double spending, etc.
When the transaction is verified to be correct, it will be broadcast to the entire network, and everyone will receive it, but only A and B are related to the transaction. A tells him that the money is less, and B will receive a ledger commitment, a sum of The deal is done.
The process seems pretty silly. However, in this human information age, we have realized peer-to-peer transactions for the first time. A and B can be Chinese, American or Japanese. A Japanese and an American completed a point-to-point transaction without going through an intermediary service provider or an authority. This is epoch-making.
Before the information age, our transactions were all peer-to-peer, where one hand paid for the goods and the other hand delivered the goods. After the information age, we have a large number of financial intermediaries, information intermediaries, and logistics intermediaries. The blockchain is the first time we have realized point-to-point transactions in the information age.
In addition to storing transactions, today's blockchain network can also store programs. In the past, the program logic ran on a single computer, server or computer cluster, so these computer networks can be controlled by a central organization.
Today you only need to make a program, which cannot be tampered with after it is put on the blockchain network.
For example, two people agree to write a manuscript, and the other party has to pay the manuscript fee after finishing the manuscript. What if you are afraid of being cheated by others? At this time, we usually find an intermediary agency, and the intermediary agency generally charges a fee. Then the smart contract of the blockchain can realize a contract with the ability to execute on behalf of it, which can ensure that the logic has the ability to execute, so many people call it smart. Contract, which is a procedure with court-like enforceability.
The blockchain is actually very simple. It is a distributed and irreversible database in a peer-to-peer network. The database stores the transaction data of the entire network on the network. This network can not only store data, but also store a program. This program is also executable and cannot be tampered with. This is the blockchain.
Many people ask me how to use the blockchain, including insurance companies, airline companies, and government agencies.
We understand the matter of the blockchain from several angles. First of all, the blockchain originated from Bitcoin. Everyone has a different understanding of Bitcoin. My view has always been that Bitcoin is not a currency, and no one takes it. Bitcoin is used for payment, and no one uses Bitcoin to buy things. It is not a currency at all, it is a commodity.
Bitcoin is like the game currency in many game facilities. When we play games, we think that a certain equipment is a cannon and it is valuable.
In the bitcoin community, they are playing such a social game. They think that bitcoin is valuable, so bitcoin is the consensus of a certain group of people, just like the consensus of all players in a game community. Therefore, Bitcoin is not a payment currency.
Second, let’s talk about decentralization. Decentralization is a neutral word in English. We all say that the blockchain has no center. In fact, the blockchain has a strong center, which is the designer of the rules.
Take Bitcoin as an example. The designer of Bitcoin designed a set of rules for it. This rule can run in tens of millions of people in more than 200 countries around the world, and this rule runs in every country without any discount. This is difficult thing.
The blockchain does not have a strong authority, but relies on a set of rules—mathematical algorithms—to run without errors around the world. Therefore, the blockchain actually removes the middle link. For example, if the government wants to do something, through blockchain technology, it can ensure that what it wants to do can be done 100%. Therefore, the core of blockchain is to remove intermediate links.
Like the Internet, today every company is an Internet company, and every government is also an Internet government. The Internet has become a tool.
At the same time, on the other hand, we also see some pure Internet companies. For example, without the Internet, there would be no applications like Didi, and without the Internet, there might not be applications like Youtube and Douyin, which are completely based on the Internet. Commercial application of technology development.
So these two categories, one is called application Internet, which is a tool application. The second type is that Internet technology is a core of the application, so this will be a subversive application.
It is the same logic when we talk about how the blockchain is applied. I believe that the blockchain can have many tool applications in many fields, such as traceability and certificate storage. application in the section.
On the other hand, I believe there will be many subversive applications that are completely based on the blockchain. For example, there are various blockchain-based remittances in the world. For example, Facebook will build a product called Libra, which will be based on the blockchain. The subversive application of the chain.
At present, there are actually a large number of blockchain application cases in the world, which can be roughly divided into several categories. The first category is similar to digital assets. Bitcoin is actually the first application of the blockchain. We have seen many micropayments and cross-border remittances in retail finance in many countries, all of which are based on the blockchain network;
In terms of government and law, we have seen that China's judiciary has recognized the legal effect of blockchain evidence. In many countries, blockchain elections are used to elect presidents, and election votes cannot be falsified;
In financial infrastructure, such as securities settlement, clearing, etc., blockchain technology is very suitable, including the People's Bank of China, central banks and commercial banks in many countries are trying to establish blockchain-based electronic currency, such electronic currency can be like Our banknotes are traded peer-to-peer, and at the same time it can be traced and can be anti-money laundering, so it will be a kind of electronic cash.
In the Internet age, there will be more and more devices in the future. It may be hard for you to imagine that every device needs to have an ID card, and you have to go to the bank to open an account.
So with the development of the Internet and AI, the blockchain may become the underlying payment system for all smart devices in the future.
Blockchain has many specific use cases. Because in many fields, the participants in the blockchain have their own interests, and it is difficult for them to centralize data in the hands of a certain enterprise. The blockchain is a technology that can be used as an underlying shared database.
The data stored on this database is encrypted, this database does not belong to anyone, it belongs to the community or the infrastructure of the society.
If you want to use the data on this database, you need to authorize the data owner. For example, whoever wants to see my data, he has to ask me. After my authorization, he can reward (I contribute) this data.
Of course, countries or regulatory agencies can have super private keys to control data. So the blockchain is a kind of data that can be shared among multiple parties, and this data does not belong to any one company.
We can see the current application of blockchain in electronic evidence, which has been clearly established in the Beijing Internet Court. We agree that the data snapshots cached on the blockchain have clear legal effects, and there are two highs: judicial interpretation as support.
Libra is a big thing this year. Libra is actually very similar to SDR. The predecessor of SDR is paper gold, and gold cannot be divided, so we made paper gold. Later, due to the opposition of the United States, paper gold no longer anchored to gold, but anchored to other countries. currency.
Libra is a product launched by Facebook. It issues a currency-anchored currency pool on the blockchain and turns it into a token. This token may have global credit and global peer-to-peer payment capabilities.
After Libra came out, it has received strong attention from U.S. regulators. Their focus is whether Libra has weakened the global control of the US dollar or strengthened the global control of the US dollar.
Facebook boss Mark Zuckerberg said at a congressional hearing that first of all, Libra was initiated by a Swiss foundation, and the US government has no right to supervise it. Second, as an American company, Facebook will not let Libra go online until the US government approves it. Third, we are enhancing the global competitiveness of the US dollar. Fourth, if the United States does not do it, China will.
Through Libra, the whole world can see that the blockchain may become an important infrastructure for social legal finance in the future.
So many people worry about the decentralization of the blockchain. In fact, although the blockchain is a peer-to-peer network, it can be managed by super private keys, including our company. We issue stable coins under the supervision of US regulators. The US New York Regulatory Authority requires us to have super private keys. It is possible to stop a certain transaction.
The real-name identity authentication on the blockchain is also different from the past. I don't have to pass an ID card, but I can use the device number, IP address, etc. to realize the real-name system.
The security of blockchain computing can actually be realized through various mature trusted computing technologies. There are various encryption algorithms on the blockchain, which can ensure the openness of data and protect privacy at the same time.
Finally, let me briefly introduce our company. We are a Chinese company in the blockchain industry with a history of 6 years. We have offices in China, the United States, Europe, Japan, etc., and we have launched a comprehensive blockchain big data platform in China. OK, thank you all. (over)
After listening to the report, are you more confident in the future of blockchain?
Note that the content of the speech did not mention that it is an exchange from beginning to end, but a blockchain big data platform.
If the exchange is really handed over to the country, will OKB return to zero or skyrocket? Welcome to discuss.
Lighthouse Community—Jiangge
Lighthouse Community—Jiangge
BTC
Bitcoin reached the expected 7400 last night, but the overall trend was not very strong. The first pressure was reached by the upper shadow line. At present, the short-term price cannot effectively fall below 7250 in the afternoon, otherwise it may accelerate. Above this, there is still a chance for the bulls to come back.
ETH
Ethereum is currently showing a convergent shock, but the trend is relatively weak. In the short term, only if you effectively stand above 149.5 can you be considered really strong. Otherwise, a small waterfall can come at any time.
BCH
The trend of Bitcoin Cash is not strong, and an important threshold is around 216. If it cannot stand up or stand firmly here, there will be a wave of waterfall-shaped trends at any time.
LTC
Although Latiao was still weaker than other currencies as of this morning, it is now relatively strong graphically. The first short-term pressure here is around 46.7.
EOS
The trend of grapefruit is very strong again today, pay attention to this may lead the trend, the starting point of this is around 2.62. Only when this point is broken can the decline be accelerated.
XRP
Ripple is in a relatively strong sideways market. The first pressure of this currency is around 0.224, and there will never be an equivalent decline in the past.
Bitcoin price at time of writing: $7302
