The emergence of Bitcoin, the emergence of digital currency "groups" supported by blockchain technology, and the rise of the digital economy have shown the impact, explosiveness and subversive nature of the IT revolution. appears in:
First, this revolution is supported by unprecedented scientific and technological resources. Blockchain is a comprehensive technology based on mathematics and physics. It has deep connections and interactions with Internet+, big data, cloud computing, and artificial intelligence. In the era of the IT revolution, most of the technological resources, human resources and financial resources supporting technological research and development are concentrated in the Silicon Valley of the United States. And this revolution is global, with a wide geographical distribution of technology, human resources and financial resources. Especially compared with the 1990s, China is an important promoter of this revolution.
Second, this revolution touched the core of human economic interaction, namely digital currency. The greatest significance of Bitcoin is not to create a payment tool and create a new carrier of wealth. Its fundamental significance is to open the "Pandora" box of currency reform. Since then, not only have non-governmental and private digital currencies developed in a "Great Leap Forward" style, but they have also promoted the development of legal digital currencies or central bank digital currencies. So the original monetary system was deconstructed. Furthermore, if digital currency forms a climate, it will eventually affect the base currencies of all countries in the world, and affect the structure and quantity of M0 and M1.
Third, this revolution led to the emergence of a "token economy". In network technology, Token originally referred to "token", representing a kind of right or proof of rights and interests, and Chinese translated as "pass". Tokens can represent all proofs of rights and interests, or in other words, all proofs of rights and interests of people can be represented by tokens. Of course, this is an ideal state. The so-called token economy, without a standardized definition, refers to the economic ecology based on Token. It includes three elements: proof of rights and interests, encryption, and circulation. As for the token economic model, it is quite diversified. The most representative ones are: currency model, point model, asset model, and data model. In the long run, there is considerable commonality between the token economy and the sharing economy.
Fourth, this revolution is changing the organizational form of traditional enterprises. Blockchain technology has brought about the feasibility of new economic combinations and new value combinations. On the basis of the blockchain, "all employees co-governing the enterprise" or "distributed autonomous operation enterprise" began to emerge. For example, the core feature of a new type of enterprise such as ConsenSys running on the Ethereum platform is decentralization. Ownership, structure, operation, reward, and governance are integrated into a distributed management model to form a new mechanism that encourages innovation, employee incentives, and collective action. A more inclusive and sustainable economy. This new type of economic organization based on the blockchain has changed the traditional hierarchical structure-power and wealth are highly concentrated, and most of the activities are corporate models that occur within the company. In particular, the decision-making of traditional organizations is done through management, while in distributed organizations based on blockchain, decision-making tasks are ultimately achieved through programming, smart contracts, and code.
Fifth, this revolution provided the government with new governance methods. The essence of government governance is the systematic development and management of government data. The consensus mechanism, encryption algorithm, smart contract, non-tamperable, traceable, safe and reliable technology contained in the blockchain technology can help the exploration, storage, analysis and confirmation of government data resources, effectively avoiding excessive levels. Distorted data ensures that the government system can quickly and efficiently collect real and complete big data, provides high-quality data support for government decision-making, and is conducive to achieving the goal of building a "digital government. Now that the government is highly concerned about financial security, blockchain technology urgently needs to be incorporated into the financial security system.
About the trend: The revolution represented by blockchain, digital currency and digital economy is global. The revolution of integrating technology, industry and financial industry has formed an irreversible trend. This revolution also triggered changes in the world's geopolitics. Now, large economies such as the United States and China are mostly cautious about digital currencies, while some small and medium-sized countries tend to be more open. My judgment is: the current fluctuations and declines of digital currencies are cyclical. At this stage, there are at least thousands of digital asset exchanges in the world. It is now at the end of a wild and crazy gold rush era, and it will soon be revealed. It doesn't have to be long. In the next two years, or a little longer, blockchain and encrypted digital currencies will enter a new high point in development history.
This article is "now decide the future" Digest Author: CECBC block chain special committee appointed expert Zhu Jiaming