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The rate of Bitcoin flowing into the exchange has slowed down. What does this mean? (www.blockcast.cc)

“Giant whales” are a type of investor or trader who hold a large amount of Bitcoin, and have recently stopped depositing funds in cryptocurrency exchanges.

The data extracted by the blockchain analysis company CryptoQuant shows that since September 16, the funds flowing into the world’s major trading platforms have begun to drop significantly. This trend indicates that the so-called HODLING sentiment is soaring, which means that wealthy traders are more inclined to hold Bitcoins than to trade them for other assets.

“Fortunately, the rate of influx of giant whales seems to be decreasing,” CryptoQuant CEO Ki-Young Ju tweeted. “It seems that the price of Bitcoin has been changing with the traditional market recently. I think the only thing we can do at this moment is to observe the movement of the giant whale, but most of the basic on-chain indicators are healthy.​”

Bitcoin’s road to recovery

Observers believe that “giant whales” play an important role in determining Bitcoin’s market trends. The risk of this type of cryptocurrency has dropped sharply due to the attention that a large amount of money is flowing into the exchange. On the other hand, the reduction in deposits eliminated the psychological selling pressure of Bitcoin.

Ju predicted the correlation before Bitcoin fell below $10,300 this Wednesday. On September 21st, he envisioned a short-term price correction for the cryptocurrency based on the surge in “giant whale” activity. Then Bitcoin did usher in a market correction, falling more than 7.81% from the previous high of nearly $10,990.

Other Bitcoin trends in recent history also show market trends dominated by “giant whales”. For example, on March 8, CryptoQuant linked the 50% drop in Bitcoin prices to 6000 BTC inflows across multiple exchanges.

But today is different. With the BTC/USD trading price approaching $10,300, the Bitcoin giant whale is showing signs of accumulation. The chart released by the on-chain data tracking WhaleMap pointed out that clusters are forming nearby. It means that unused bitcoins are increasing.

The analyst explained: “The bubble shows where the unused bitcoins accumulate. The bigger the bubble, the more bitcoins are used here, and the unused means that these bitcoins have not been transferred since they were “flowed into” the whale wallet. ”

Macro market risk

As long as Bitcoin is traded under the influence of macroeconomic fundamentals, short-term sentiment (even bullish sentiment) can change without interruption. As Ju pointed out, the cryptocurrency closely follows the daily trends of the traditional market, which may exacerbate the “giant whale” bearish bias.

One of the main reasons for the potential Bitcoin decline is the strengthening of the U.S. dollar. As the US Congress failed to finalize the second rescue bill against the coronavirus, traders and investors have recently increased their bids for the US dollar. This puts risky assets including US stocks and gold under bearish pressure.

Economists believe that the US government’s financial assistance will not be in place until after the November presidential election, which is expected to provide more room for the dollar to rebound, while further improving Bitcoin’s short-term bearish bias.

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BREAKING: US Banks Just Gave the GREEN LIGHT to Cryptocurrency Investors Going into 2021! (www.blockcast.cc)

BREAKING: US Banks Just Gave the GREEN LIGHT to Cryptocurrency Investors Going into 2021!

Breaking cryptocurrency news today as US banking regulators authorizes federal banks to hold reserves for stablecoin cryptocurrencies! The U.S. Office of the Comptroller of the Currency sent a letter to US Banks giving them the green light! Let’s discuss!

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The application is unbounded, how will blockchain integrate into traditional business? | 2020 “Xiamen International Blockchain Week” Main Summit Highlights (www.blockcast.cc)

2020 is a year for industrial blockchain to attempt larger experiments. The concept of “new infrastructure” once again makes people think about the use of blockchain technology. How to apply blockchain technology to shape the industrial value? How will the blockchain help realize the collaborative innovation of the industrial ecology? On the road of industrial development, where are the future opportunities of blockchain?

Thanks to the opportunity of the 2020 China Retailers Conference in Xiamen, the focus of China’s blockchain industry in the second half of 2020 will be Xiamen: September 16 to September 18, guided by the Fujian Provincial Blockchain Association, entropy chain school, The “The 3rd China (Xiamen) International Blockchain + Business Future Development Summit”, sponsored by Xiamen Conference & Exhibition Sirford Exhibition Co., Ltd. and co-sponsored by ChainNews and Winkrypto, will be held as a parallel sub-forum of this conference.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

This article is a record of the core content of the main summit on September 16 with the theme “Applying Unbounded Value Innovation” .

The event included a leader’s speech, 6 keynote speeches, 1 awards ceremony and 1 round table dialogue. In today’s agenda, Song Zhigang, Vice President of Digital China Research Institute (Fujian), Member of the National E-Government Expert Committee, Executive Director of BSN Development Alliance, He Yifan, CEO of Beijing Red Date Technology Co., Ltd., Li He, Blockchain CMO of WeBank, and Matrix Yuan COO Xie Hongjun, Director of the Blockchain Professional Committee and Chief Digital Economist Chen Xiaohua of China Mobile Communications Federation, Cosine, founder of SlowMist Technology, Wang Honglong, Vice President of Entropy Chain Technology and other guests focused on the collision of business and blockchain technology innovation , In-depth analysis of the macro development direction and future trends of the blockchain, to provide sound judgments for value innovation.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Some core highlights of this event:

  • Li Jianming: Xiamen has the inherent advantages of taking the lead in implementing the development of the blockchain industry
  • Yuan Yue: Digital Fujian is the source of thought and the starting point of practice for Digital China
  • Chen Yibin: Blockchain development is moving from wandering without shadow to taking root
  • He Yifan: The core of the blockchain is broadcast transmission
  • Xie Hongjun: Data trading still faces four major risks in its development
  • Song Zhigang: The advancement of blockchain in Fujian Province must first give full play to the advanced nature of blockchain in government affairs
  • Chen Xiaohua: Blockchain + 5G solves the problem of data security and price
  • Li He: WeBank further promotes the development of the entire industry by doing an open source ecosystem
  • Su Qingquan: Blockchain technology is driving the innovation of the entire government service model
  • Cosine: The application of technology to the scene field will involve many trade-offs besides non-technical
  • Fu Yuanlue: There are two deadliest aspects of blockchain: data confirmation and value creation
  • Wang Honglong: The current two major bottlenecks in the application of blockchain government affairs: cognition and technology
  • Zheng Xiaofeng: Blockchain landing presses two big mountains of technology and business
  • Ma Tengfei: Open finance is actually a combination of decentralized finance and centralized finance

The following is a collection of today’s exciting content, the content has been edited.

Speech by Li Jianming, Deputy Director of Xiamen Municipal Bureau of Industry and Information Technology

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

This year is a very special year. The epidemic has greatly changed our lives and work conditions, and has also had a huge impact on many industries. However, a new round of technological revolution and industrial transformation with new technologies such as blockchain, big data, and cloud computing at the core have shown great convenience, accuracy and importance in this fight against the epidemic. The digital economy is profoundly changing people’s life and production methods, becoming a new driving force for economic growth. As a special economic zone, a comprehensive reform supporting experimental zone, and a cross-strait emerging industry and modern service industry cooperation demonstration zone, Xiamen has the innate advantages of taking the lead in implementing the development of the blockchain industry and the development potential of developing blockchain technology innovation.

In 2018, Xiamen issued the “Opinions on Accelerating the Development of Software and Information Technology Service Industries”, which clearly pointed out the need to vigorously cultivate new technologies, new models and new business formats. In 2019, the Xiamen Municipal Government once again issued the “Several Opinions of Xiamen City on Accelerating the Development of Digital Economy Integration”, which clearly stated that it is necessary to accelerate the promotion of new generation information technologies such as blockchain, artificial intelligence, 5G, big data, and cloud computing, and deepen the real economy Integration to create a national digital economy integration development demonstration zone. Last year, our city was approved as a national pilot area for a cross-border financial blockchain service platform. So far, the domestic financial sector involves a wide range of blockchain platforms, and it is also a rare block led by the national regulatory agency in China. Chain platform. Committed to alleviating the difficulties and expensive financing of cross-border trade for SMEs, and promote the development of real economy industries. Xiamen is also actively deploying and building blockchain + smart cloud management platform, + smart medical, + smart government affairs and other scenarios. Committed to realizing the innovative development of blockchain technology and economic and social integration, injecting new momentum into Xiamen’s industrial development, and providing technical support for the modernization of the government’s governance system and governance capabilities.

Blockchain technology has increasingly become the new technology and new leadership of future technological innovation. General Secretary Xi emphasized that my country should be at the forefront of the emerging field of blockchain, occupy the commanding heights of innovation, and obtain new industrial advantages. Today, we are here to host the 3rd China (Xiamen) International Blockchain + Business Future Development Summit to provide a platform for traditional commercial enterprises to use the cutting-edge technology of blockchain to achieve innovation, transformation and development, and to provide a platform for exchanges and cooperation, and to share the pulse of blockchain technology + The future development trend of business, promote the docking of blockchain resources, and drive industry applications and high-quality projects to land in Xiamen, which is of great significance to promote the development of Xiamen’s blockchain technology and industry.

Speech by Yuan Yue, Director of Technology Application Division of Fujian Digital Office

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

In today’s world, scientific and technological revolutions and industrial revolutions have become increasingly resolute, and the booming digital economy has changed human production and life. General Secretary Xi Jinping has repeatedly emphasized the need to accelerate the development of the digital economy, promote digital industrialization and industrial digitization, and promote the deep integration of blockchain, big data, artificial intelligence and the real economy. In 2019, the scale of the digital economy in our province reached 1.73 trillion yuan, an increase of 20.3%. The total digital economy accounted for 40.7% of the province’s GDP. The digital economy has become a new driving force and main engine for the province’s high-quality development beyond.

Blockchain is a typical representative of a new generation of information technology and a key technology for the development of digital economy. During the 18th collective study session of the Political Bureau of the Central Committee, General Secretary Xi Jinping emphasized that blockchain should be used as an important breakthrough for independent innovation of core technologies, and blockchain should be used to promote data sharing and development, optimize business processes, reduce operating costs, and improve collaboration. Efficiency, building a credible system, etc. Using blockchain technology to explore the innovation of the digital economy scale model, the blockchain is becoming a new driving force for the development of the digital economy, and the development of the blockchain is also receiving extensive attention from the society.

Digital Fujian is the ideological source and the starting point of practice for Digital China. The Fujian Provincial Party Committee and the Provincial Government attaches great importance to the development of blockchain. It has been proposed in multiple documents such as the provincial government work report, digital Fujian work points, and three-year action plan for new infrastructure. Promote the development of blockchain technology and industry, and will also support the development of blockchain to be included in the tenth plenary session of the tenth provincial party committee just held, an important supporting measure of 1+3+N deployment to promote blockchain and our province’s entities Deep economic integration. In the next step, we will strengthen basic platform construction and core technology research, accelerate the application of blockchain technology in multiple fields, build a blockchain industry ecology, accelerate the construction of blockchain talent teams and disciplines, and strengthen blockchain standards and supervision A series of blockchain initiatives have been introduced in order to build our province into an influential blockchain innovation pilot area in the country, integrating demonstration areas and industrial development highlands.

Speech by Chen Yibin, President of Fujian Blockchain Association

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Now is a time node worth paying attention to the development status of the entire industry. Since Chairman Xi’s speech, blockchain has become more and more honest, because more people are paying attention to its practical applications. The development of blockchain is taking root from the original drifting in the air to the ground. As the earliest industry association organization in the country, the Fujian Blockchain Association has been co-organizing and cooperating with local governments, universities, enterprises, and industry organizations around blockchain cognitive education, ecological construction, business linkage, and policy communication. Ecology.

The previous leaders also mentioned the importance attached to the development of this blockchain by the provincial and municipal governments. As the earliest industry association organization in the country, the Fujian Blockchain Association has been working with local governments, universities, enterprises, and industry organizations around blockchain cognitive education, ecological construction, business linkage, and policy communication. Organization and ecology. Welcome the national blockchain practitioners and entrepreneurs to Fujian and Xiamen to jointly expand the market, and the Fujian Blockchain Association will provide the best service.

Keynote Speech: Digital Fujian Blockchain Application Service Platform

Guest: Song Zhigang, Vice President of Digital China Research Institute (Fujian), Member of the National E-Government Expert Committee

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

“Digital Fujian” is an important project promoted by General Secretary Xi Jinping when he was governor of Fujian Province in 2000. It should be said that the development of informatization in Fujian benefited from the promotion of the “Digital Fujian” project by General Secretary Xi in 2000. On the other hand, in fact, all those who do blockchain should also thank General Secretary Xi Jinping, because his final decision in 2019 is the key to making our entire China blockchain development on the fast lane. As a unit of the Digital China Research Institute accompanying the birth and growth of “Digital Fujian”, we are duty-bound to promote the development and construction of “Digital Fujian” in blockchain.

The development of blockchain industry in Fujian Province has some foundations and advantages. First, in terms of the digital economy, the scale of Fujian’s digital economy reached 1.7 trillion in 2019, ranking 7th in the country. The proportion of the entire digital economy exceeds 40%, and the digital economy has become a main battlefield of society and economy. However, the proportion of digital economy in European and American countries can reach nearly 60%. The gap shows that we still have a lot of room for development. Blockchain technology is also a very important technology to promote the development of digital economy.

Blockchain companies in Fujian Province are currently mainly distributed in Xiamen, Quanzhou, and Fuzhou. Comparing the basic situation of the entire industry, Fuzhou, Xiamen, and Quanzhou present different advantages: Fuzhou is a gathering place for blockchain innovation and has advantages in talents; Fuzhou is a digital city; Xiamen is a leader in finance; Quanzhou is in the private economy And the traditional economy is developing well. How to integrate the blockchain with the original traditional economy to improve efficiency and increase revenue is very important.

In terms of the government affairs system, “Digital Fujian” is the first to try and start the construction of the digital Fujian blockchain basic service platform. The basic platform built by the Digital China Research Institute and its partners mainly promotes the construction of digital government, implements the “on-chain government affairs” project, and strengthens data integration and business collaboration. In the case that the current standards and specifications of blockchain technology are not sound, Fujian Province has first tried to build a basic government blockchain platform for government business applications.

In the future, the advancement of the blockchain in Fujian Province must first give full play to the advanced nature of the blockchain in government affairs, and the ultimate goal is to promote the creation of the entire ecology of the blockchain industry.

Keynote speech: BSN design origin-understanding of the future of blockchain

Guest: He Yifan, Executive Director of BSN Development Alliance, CEO of Beijing Red Date Technology Co., Ltd.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Blockchain technology is definitely a major information revolution. The information revolution actually promotes the transmission and storage of data. Internet technology is actually the second-level transmission between two computers, but it is as simple as that. One technology has changed the entire human race and all our business logic.

Blockchain is actually an upgraded version of the Internet transmission method. Internet transmission is a serial structure, a serializer of data. This kind of linear transmission logic will have some problems, such as data loss, data transmission error, etc. The upgraded version of this linear tandem structure is the blockchain. The core of the blockchain is broadcast transmission, which is actually a broadcast data transmission and storage technology.

It is precisely because of this kind of communication technology that consensus can be produced, and it is easy for us to reach consensus. Therefore, the so-called consensus of the blockchain is actually due to this transmission method that produces a consensus, not that the blockchain is a consensus.

All informatization processes will involve two eternal issues, cost and interoperability, and the core purpose of establishing BSN is to solve these two issues. BSN first is to build public city nodes in the data centers of all cloud services, which are actually BSN small data centers; secondly, deploy a large number of various blockchain frameworks in each city node; third, BSN is more like providing API interfaces for everyone. Help everyone quickly build a platform at low cost.

Currently, there are about 100 BSN nodes in China, about 70 cities are connected, and 8 overseas nodes. In terms of cloud service providers, all three operators are participating. Baidu Cloud, Google Cloud, etc. are the main partners. It is estimated that by the end of 2021, there will be at least 10 alliance chains and about 50 public links into the BSN ecosystem.

Aiming at the future development trend of blockchain, He Yifan put forward five prospects: 1. A universal blockchain communication protocol will surely be produced in the future; 2. Legal digital currency and stable currency will become popular and become the mainstream of cryptocurrency and DeFi. Currency must be associated with offline assets; 3. There will be a global digital currency and digital asset transaction, clearing and settlement infrastructure, and it will be realized through a distributed architecture, not a centralized system; 4. Consortium chain and public ownership The boundaries of the chain will be further blurred; 5. The concept of “chain” as understood by the market will disappear. The data center of each business entity will automatically generate a “chain” relationship with other data centers based on business logic, thereby reconstructing today’s the Internet.

Keynote speech: Blockchain empowers digital economy in the 5G era

Guest: Chen Xiaohua, Director and Chief Digital Economist of the Blockchain Professional Committee of China Mobile Communications Federation

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

What are the characteristics of 5G? 5G has the characteristics of millions of links, high bandwidth, low latency, and flexibility. The changes brought about by 5G in the future are actually more of a business model change. In the future, the mobile Internet will eventually build an ecosystem for APP. It can be interconnected, can interact, and build industrial docking with the entire industry through data.

What is the connection between 5G and blockchain? In an interview with the two sessions last year, I said that 5G will give birth to and promote the number and development of various industries, taking the lead in industrial Internet, transportation, energy, manufacturing, education, medical, consumption, leisure and entertainment applications, and promoting traditional business models. This is a subversive revolution to achieve great economic value. 5G will surpass latency with faster transmission speeds, opening a new era of Internet of Everything. The Internet of Everything is connected to data. Blockchain + 5G solves the problems of data security and price. Enabling data value through the two attributes of the blockchain itself is the association between the blockchain and 5G.

This year I raised the issue of blockchain ecology at the two sessions of this year. The blockchain has been developed for 12 years, 1.0, 2.0, 3.0, and finally 4.0. Blockchain 1.0 and 2.0 are pure digital currencies and do not need to be applied; stage 3.0 is the exploration period for blockchain applications, including Shenzhen’s IRS invoices. After October 24, 2019, blockchain has become a state-led technology, a top-down development. In the future 4.0 stage, the development of blockchain should be a new-generation technology industry chain such as new financial attributes + industry + 5G, so as to guide the digital economy ecology.

What problem does blockchain solve? In the era of big data, information transactions are opaque and unfair. Blockchain is actually empowering big data. Regarding the trend of the new generation of technology integration and how the economy will do in the future, in addition to the previous “two modernizations”, we now propose the “five modernizations” theory, including digital governance, digital value, and digital asset.

Awards ceremony

This award aims to commend and respect the teams and professionals who have made contributions in the blockchain field. It is judged from four categories: people, associations, ecological services, and enterprises. It is mainly divided into blockchain industry-driven pioneers and best The blockchain community organization, the blockchain ecological service innovation award, and the 2020 Fujian high-growth blockchain enterprise are awarded to the leaders of the blockchain industry in different senses.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

The “Pioneers of Blockchain Industry Drivers” are: Xiao Feng, Vice Chairman and Executive Director of China Wanxiang Holdings Co., Ltd.; Si Xueming, Director of CCF Blockchain Special Committee; He Yifan, Executive Director of BSN Development Alliance and CEO of Jujube Technology; Chen Yibin, President of Fujian Blockchain Association; Yang Wei, Senior Vice President Cheng, Founder and CEO of Eleven Becco; Da Hongfei, CEO of Distribution Technology; Song Zhigang, Vice President of Digital China Research Institute (Fujian) and member of National E-Government Expert Committee ; Meng Yan, Vice President of Digital Asset Research Institute and Vice President of CSDN; Chen Xiaohua, Director and Chief Digital Economy Expert of China Mobile Communications Federation Blockchain Professional Committee; Coxian, founder of SlowMist Technology; Blockchain Research of China Electronics Standardization Institute Director Li Ming.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

The “Best Blockchain Society Organization Award” are: Beijing Blockchain Technology Application Association; Fujian Blockchain Association. Blockchain Committee of China Computer Society; Blockchain Application Branch of China Federation of Logistics and Purchasing; Guangzhou Blockchain Industry Association; Shanghai Blockchain Technology Association; China Mobile Communications Federation Blockchain Professional Committee; China Electronics Chamber of Commerce Blockchain Special Committee.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

The “Blockchain Ecological Service Innovation Award” are: Fisco Bcos; Beijing Block Technology Co., Ltd. Gaowei Space (Xiamen) Blockchain Co., Ltd.; Lianren International Consulting (Beijing) Co., Ltd.; Entropy Chain School (Xiamen) Education Consulting; Fujian Wanwei Blockchain Technology Co., Ltd.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

The “2020 Fujian Province Blockchain High-growth Enterprise Award” are: Fujian Fulian Technology Co., Ltd.; Xiamen SlowMist Technology Co., Ltd.; Xiamen Wanshi Shunyi Technology Co., Ltd.; Fujian Palm Chain Technology Co., Ltd.; Co., Ltd.; Entropy Chain Technology (Fujian) Co., Ltd.; Xiamen Chain Square Technology Co., Ltd.; Fujian Infront Network Technology Co., Ltd.; Fuzhou Baiguwang Network Technology Co., Ltd.; Fujian Sailfish Blockchain Technology Co., Ltd.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Keynote speech: Open source helps the development of industrial blockchain

Li He, Blockchain CMO of WeBank

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

The name Weizhong actually comes from micro-enterprises and the general public. Weizhong Bank is based on technology and proposes four major technological development directions. We believe that the power of technology can solve the fundamental contradiction of inclusive finance just now. The blockchain will also play a very important role in the entire process, because everyone knows that the blockchain is a trusted machine in the digital field. When the bank itself is doing financial services, we actually act as a credit endorsement or in other words. The role of credit generator and transmitter. WeBank once spent a year researching the underlying technology, starting from P2P networks, smart contracts, enhanced virtual machines, and even the underlying consensus algorithm, to get to the foundation. In 2017, WeBank was determined to take the path of open source, and used the accumulated experience and the pits to benefit the entire industry through open source code.

WeBank has built an open source ecosystem around the open source system, and further promotes the development of the entire industry by doing an open source ecosystem.

At present, WeBank has very in-depth connections with the Ministry of Industry and Information Technology, National Standards Committee, People’s Bank of China, and Financial Standards Committee in the construction of blockchain standards. There are more than 20 standards announced to the outside world, and they are all at the national level or National ministries-level standards. In addition, we also represent the country to influence the formulation of international standards for blockchain technology to international organizations such as ISO.

We create an open source ecosystem around FISCO BCOS. From the application of blockchain, including the number of people in the entire open source ecosystem, we are currently doing quite well in the domestic field or the domestic open source alliance chain ecosystem. At the same time, because we are a domestic bottom layer, we have also done a lot of work on domestic bottom layer adaptation, such as a full set of national secret algorithms, and the adaptation of domestic operating systems and domestic ARM servers have been completed. At present, the single-chain performance of FISCO BCOS has passed the standard test of the Institute of Information and Communications Technology of the Ministry of Industry and Information Technology, and the measured single-chain performance has exceeded 20,000. At the same time, it supports the parallel process of parallel multi-chain, and the expansion of 800-1000 parallel chains can be achieved in the laboratory.

Keynote Speech: Practice of Blockchain Technology in the Construction of Digital Government

Guest: Su Qingquan, Ping An International Smart City Solution Director

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Ping An was established in Shekou, Shenzhen in 1988, starting from quotation and covering finance. Through 30 years of hard work, the entire group has gradually developed from the current traditional insurance bank asset dimension to the direction of finance + technology and finance + ecology. The entire group currently has 5 ecosystems, mainly related to finance, including health, automobiles, real estate, and smart cities. Today’s topic of government affairs blockchain is also carried out in the ecology of smart cities.

Today I will briefly talk about three points.

The first point of view is that blockchain technology is driving the innovation of the entire government service model. There are two levels. First, from the policy level, General Secretary Xi proposed to use the blockchain to promote data sharing; the second point is technically, the decentralized characteristics of the blockchain, and the structure of government governance in an alliance Do not conflict. At this level, blockchain technology will be a very important way and trend of innovative development for government services.

The second point of view is that blockchain + people’s livelihood is an important entry point for promoting Internet + government services in the future. Under the original local characteristics, combined with local governance and the blockchain platform, the existing application scenarios are redesigned, business processes are optimized, and the entire service upgrade is realized.

The third point of view is that blockchain technology can clarify the rights and responsibilities of government data and do more electronic and digital, but the next step should be more intelligent development. The future should be based on building a credible space for individual legal persons, based on this credible space to derive the definition of data responsibility and rights, based on the responsibility and rights to optimize government services, and even the digital economy and digital assets of subsequent cities.

Ping An has a lot of accumulation in the blockchain field. Up to now, Ping An holds more than 400 technology patents. Ping An’s self-developed one-stop chain platform supports national secret standard algorithms. It can support the verification of arbitrary data relationships, as well as homomorphic calculations.

Keynote Speech: Privacy Computing and Data Fusion Infrastructure

Guest: Matrix Yuan COO Xie Hongjun

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

The current data ecosystem is huge. According to IDC statistics, the global big data market is currently around 56 billion U.S. dollars, an increase of more than 15% every year. The biggest problem we face is data leakage and personal privacy protection. With the development of the network, including the massive and complex data generated by the sensors of the Internet of Things, the traditional centralized basic network will not be able to support all-round growth needs, and the construction of infrastructure based on the distributed network will become our only choice.

The data collection end uses infrastructure such as the Internet of Things to ensure reliable input at the source of the data. Big data centers and cloud vendors will be an important aspect of the future large-scale new infrastructure for data. Privacy computing technology represented by cryptography will realize data service and final settlement. The final core and key of data is the value settlement after the data sharing service is provided, which is the natural advantage of blockchain. Data transactions still face four major risks in the development: 1. The current lack of data security protection; 2. It is difficult to accurately evaluate the value of multi-party data collaborative computing; 3. Data leakage and business compliance risks; 4. Reasonable fee model.

Matrix Yuan has proposed the concept of privacy computing since 2018, giving the academic term privacy computing a broader extension, and solving the problem of data privacy protection and collaborative computing currently facing the industry. Regarding the data fusion infrastructure, we believe that the three powers should ultimately be separated: registration, registration, and transactions should be separated. To separate does not mean to separate in isolation. In the past, the logic of banking and finance was that the three powers were divided and the Internet was combined. The combined problem was that everything had the final say, and a series of problems would arise. Blockchain will be combined with cryptography in the future, not physically separated, but separated logically to ensure that our user registration is independent, including transaction registration and final settlement.

Matrix Yuan wants to be the super clearing party of data elements, and the essence is to provide a public infrastructure of data elements that are cross-identities, cross-accounts, cross-structures, cross-clouds, cross-applications, and cross-assets.

Roundtable discussion: Blockchain reconstructs future business development models

  • Moderator: Liu Feng, Co-founder & Chief Editor of Lianwen
  • Guests:
  • Cosine, founder of SlowMist Technology
  • Fu Yuanlue, Professor, School of Management, Xiamen University
  • Wang Honglong, Vice President of Entropy Chain Technology
  • Zheng Xiaofeng, Partner of Yulian Technology & Head of Greater Bay Area
  • Ma Tengfei, Managing Director of Century Shengyuan Asset Management Company

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Moderator (Feng Liu): In a real business society, what benefits does blockchain bring to consumers and end users? What practical problems can blockchain really solve?

Cosine: One of the advantages of blockchain is that it can definitely solve the problem of trustlessness, but it is not a necessity. Even when my friends and I deduced many scenarios, I found that the final deduction might not require a blockchain. It is to solve the problem of de-trust and reduce the cost of trust. Not only can the blockchain be done in this way, there are also many ways.

Fu Yuanlue: There are two deadliest aspects of blockchain. The first point is data verification. From an economic point of view, there is no good solution for data validation, there are no rules, no legislation. The second point is that the value created by the blockchain has not yet been shown. To do a good job in the blockchain is to share data and create value. This value must allow any party in the industry chain to benefit. How to weigh to achieve this goal is indeed a difficult problem.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Wang Honglong: Entropy’s recognition of blockchain technology is mainly based on three aspects: 1. It solves the problem of trust mechanism between people or between enterprises and enterprises; 2. Consensus mechanism. Blockchain may be the process of advancing the human society from the Internet of Things to the mutual trust network; 3. Under the premise of compliance and compliance, apply in the field of financial innovation. These three points are a major core highlight of promoting the development of the future blockchain industry, including the future of business.

Zheng Xiaofeng: First of all, the blockchain is distributed, which means that it can’t be done by one person or one company. It must be something that many people want to do together. Among them, the data is very credible. In the past, two methods were used to resolve disputes. One was morality and the other was law. Blockchain + industry, + various data security will eventually point to another thing called public security law, this is my point of view.

Ma Tengfei: Recently, there is a particularly popular term that is decentralized finance. This so-called open finance is actually a combination of decentralized finance and centralized finance. Whether it is decentralized finance or centralized finance, everyone is proceeding on the premise of open finance, and all of this is based on blockchain technology.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Moderator: Is the blockchain technology really good enough now? What else do you think needs to be improved?

Cosine: The application of technology to the field of scenarios involves many trade-offs beyond non-technology, including politics, economy, laws and regulations, and different countries’ views on innovative things. We have to break through something, but we often touch a lot. Sometimes when we really focus on making a scene breakthrough around the so-called trustlessness, we will find that this scene may not require a blockchain, and some relatively strong cryptographic techniques may be enough. Many things are a balance, and this balance is not particularly related to technology in my opinion.

Fu Yuanlue: Blockchain is a document to put it bluntly, and it must be integrated with new technologies such as AI and cloud computing. From this higher level, the application prospects of blockchain are very good, but how to do some practical combination and really produce specific benefits is worth pondering.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Moderator: Blockchain has several particularly big challenges in the application of government affairs, including conceptual and mechanism challenges. What do you think?

Wang Honglong: There are currently two major bottlenecks in government application. One is cognition and the other is technology. If there is no unified technical standard, all government applications in the later period will form information islands one after another, and it may be more terrifying than traditional information islands.

Zheng Xiaofeng: In fact, most of the customers currently facing government affairs applications are like public security, military, and medical. They are originally isolated islands. The implementation of blockchain is far more than just the mountain of technology. Another mountain is business. If you don’t use blockchain, you can better protect your own interests, or other issues such as ethics and society.

The application is unbounded, how will blockchain integrate into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Moderator: How do you view the development of the blockchain + financial sector under the current regulatory policies, and what should you do in the future?

Ma Tengfei: The earliest real implementation of the blockchain is the Bank of Communications bill center. I think that, for example, insurance policies, large-denomination certificates of deposit, bank notes, securities, etc., all expensive things are suitable for using blockchain as a circulation tool. Many listed companies in Shenzhen have already begun to deploy and apply blockchain in 2015 or even earlier. We are now also beginning to try to use blockchain technology to solve some problems. Everyone must have an open finance mentality. Not only must we be committed to blockchain finance, but in fact, we still have to embrace traditional finance. Combination is the best. It is the most beautiful.

Business Future Summit Beach Welcome Dinner

In the evening, Xiamen Summit officially designated the only welcome dinner, and the Business Future Summit Beach Welcome Dinner was held. The dinner was hosted by the Fujian Blockchain Association, Lianwen, SlowMist Technology, Entropy Chain School, and Winkrypto. Akamai participated in the dinner as the main sponsor.

The application is unbounded, how will blockchain be integrated into traditional business? | 2020 ``Xiamen International Blockchain Week'' Main Summit Highlights

Akamai Financial and Commercial Director Liang Shipeng said in his speech that Akamai Technologies, as the main cloud delivery platform in the United States, focuses on Internet acceleration and cloud security protection, and has been deeply involved in the blockchain industry for many years. Up to now, Akamai has provided high-quality services such as global CDN acceleration and Internet cloud security protection for dozens of domestic and foreign customers in the blockchain industry, including exchanges and wallets. The high-availability service quality through 100% SLA provides a reliable guarantee for the best user experience in the blockchain industry and the sustainable operation of 7*24-hour financial services.

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South Korean gov pledges to bring blockchain voting into people’s homes (www.blockcast.cc)

The Blockchain frenzy in South Korea has now reached the housing sector, with the national government pledging $1.27 million in funding for a blockchain-based platform that targets apartment residents across the country.

According to ZDNet Korea, the South Korean Ministry of Science, or ICT, chose a local firm, Ksign, to develop a contact-free platform which will let residents engage with electronic voting, parking space management, and other housing-based governance measures.

The platform will also aid with social distancing, said the announcement. The project’s creators further noted that they expect it will “strengthen public health in the apartment spaces.”

Homeowners, residents, and management will be able to use the platform, which will also provide video conferencing and electronic payment solutions.

Keo Ja-in, vice president of Ksign, commented on the upcoming platform:

“We are developing a DID that can be applied to the token ecosystem by controlling personal information and verifying the identity by controlling personal information. The goal is to also create a token ecosystem that can be used in any store.”

The head of the Seocho regional government recently proposed a blockchain-powered voting platform for residents and praised the recent influx of crypto-related developments across the country.

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Kiss’ Gene Simmons Is Looking Into Bitcoin: Gone Mainstream (www.blockcast.cc)

In quite the confusing turn of events, Gene Simmons of Kiss fame is looking into Bitcoin and crypto.

On September 15th, Tyler Winklevoss of Gemini tweeted a thread about Bitcoin and the crypto space, commenting on the ongoing state of this nascent industry:

“This is why I love #Bitcoin and crypto. It’s permissionless. It’s unbiased. Math doesn’t care about the color of your skin, gender, orientation, etc. But getting people into this new system is the biggest challenge we face as an industry. It’s easier to buy #Bitcoin and Ether if you are already in the old system. If you don’t have a bank account, it’s hard to get funds into crypto. We need to change this.”

Gene Simmons, who follows Winklevoss and a number of other accounts about Bitcoin (@Bitcoin, the Winklevoss Twins, etc.), shared the tweet seen below.

Many in the space saw this as validation that Simmons is interested in cryptocurrencies. Since he follows a number of accounts in the space, this statement is not entirely unfounded.

Related Reading: This European Crypto Exchange Was Just Hacked for $5 Million

Not Simmons’ First Time Looking At Bitcoin

This is not his first time looking at Bitcoin.

Speaking to The Street, he said that he is “interested in bitcoin, but only as a piece of the [investment] puzzle.” The investor did not elaborate at the time of the comment, which was made in Q3 of 2017.

Others Are Buying It

Other notable mainstream personalities are buying Bitcoin.

For one, Jim Cramer recently bought Bitcoin on the advice of Anthony Pompliano, founder of Morgan Creek Digital.

Cramer purportedly put 1% of his net worth in the leading cryptocurrency. He cited his ongoing fears of inflation, which he says will make BTC a valuable asset to own. Cramer discussed the cryptocurrency in relation to gold.

Related Reading: Here’s Why This Crypto CEO Thinks BTC Soon Hits $15,000
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Price tags: xbtusd, btcusd, btcusdt
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Kiss' Gene Simmons Is Looking Into Bitcoin and Crypto

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Bullish Case For Bitcoin: Profit Taking Turns Into Buying The Blood (www.blockcast.cc)

Bitcoin price recently saw a $2,000 correction after months straight of surging. At the start of the selloff, signs pointed to profit-taking as the primary reason for the pullback. However, after greed turned to fear, big-money investors have begun buying the blood right out from under investors who are panic-selling the cryptocurrency at a loss.

Here’s why this is incredibly bullish for Bitcoin and what this could mean for a new uptrend taking hold.

Bitcoin Whales Buy The Blood As Small Time Investors Panic Sell At a Loss

The crypto market has been on fire in 2020, and although other crypto assets have outperformed Bitcoin, it too has done well for itself.

Bitcoin remains the most profitable mainstream investment of the year next to gold, stocks, and anything else. But a recent over $2,000 crash turned the ultra greedy market into a fearful one.

Related Reading | This Accumulation Pattern Suggests Bulls Are On The Right Side Of Bitcoin

Contrarian investing strategies recommend selling when markets are at peak greed and then buying when most fearful. That strategy would have proven well over the last few weeks when the crypto market Fear and Greed Index reached record highs.

Smart money investors taking profit caused the selloff initially, as depicted by the green moving profit average below. But smart money may now be buying the “blood in the streets” as contrarian Baron Rothschild suggested.

bitcoin buying blood

bitcoin buying blood

Bitcoin Moving Profits and Losses | Source: Twitter

Profit-taking has turned into buying the fear and panic of those who cannot control their emotions, and are selling their Bitcoin at a loss – represented by the red line just recently crossing above the green.

Note how during each major crash, more investors are selling at a loss than in profit. Meanwhile, during each top, investors are taking profit instead of panic-dumping below entry.

But after such an enormous fall on Black Thursday and an ongoing bear market that hasn’t yet been concluded with a new higher high, why are investors buying up the blood with prices still so high?

bitcoin btcusd weekly sr flip

bitcoin btcusd weekly sr flip

BTCUSD Weekly S/R Flip | Source: TradingView

What’s Given Crypto Bulls So Much Confidence To Buy The Dip?

If technical analysis patterns are accurate, then bulls are right to be buying the dip, rather than selling at a loss. Those who have sold on the way down may sorely regret it and be forced to buy back at higher prices.

What has suddenly given smart money confidence to buy the dip after recently taking profit, is that downtrend resistance turned support, along with $10,000, recently held up strong on daily and weekly timeframes.

Related Reading | Has Bitcoin Confirmed A Bullish Retest Of “Meme” Downtrend Line?

If the key level can also hold on the September monthly, chances are that a new bull market has fully developed, and a retest of all-time high is only a matter of months away.

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PayBito listed SESSIA’s cashback token KICKS into its platform (www.blockcast.cc)

  • PayBito intends to offer more diversified trading options for users by adding KICKS to its trading platform.
  • KICKS token follows a unique process, as it takes a non-conventional approach to eCommerce and social media.
  • PayBito also offers some of the best prices and lowest fees among crypto exchanges in the world.

A cashback token for loyalty programs KICKS has been listed by top global cryptocurrency exchange PayBito. PayBito will be giving users diversified trading options with the addition of KICKS to its trading platform, according to the announcement.

KICKS is a crypto exchange designed to streamline business organizations’ loyalty programs using the SESSIA’s ecosystem. The SESSIA system is based on blockchain technology and works as a social networking protocol that connects consumers and businesses with no intermediaries.

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The unique approach of linking businesses and consumers

It doesn’t work like the traditional business setup where an intermediary is linking the businesses with consumers of their products or services.

As PayBito is listing KICKS on its platform, it will be available for users to facilitate transactions within the SESSIA ecosystem. Managing director of PayBito Raj Chowdhury, while commenting on the development, said PayBito is offering diversity for traders to choose a wide range of tokens.

 “PayBito aims to offer a diverse range of tokens to the traders,” he said.

Raj also revealed that the company is expanding its portfolio with a unique asset that will be beneficial to all the company’s users.

KICKS takes a non-conventional approach to eCommerce

The main idea behind the token KICKS and its platform SESSIA is an intriguing one, according to Raj. Its approach is a unique one different from other similar platforms as it takes a non-conventional approach to eCommerce and social media.

Raj said the potential of the process is a huge one, considering the present market scenario where firms want ways of minimizing their costs when reaching out to consumers.

He revealed that the company thinks KICKs will be of immense benefit to traders, and they are certain the response from consumers will be a positive one.

PayBito offers one of the lowest fees in the industry

PayBito is popular for the wide coverage of crypto assets. Now the interest of the company is to provide more options for traders to be able to diversify their investments and take lesser risks. This approach has made the exchange widely known for its support on portfolio diversification with a wide range of products on offer.

Apart from their diversified products, PayBito offers some of the best crypto prices with the lowest trading fees. Its advanced security protocols, multi-signature wallets, instant fiat deposits, and multi-currency support have made it one of the best crypto exchanges in the world. As a blockchain-based application, SESSIA enables the integration of a social media networking that uses a secured eCommerce ecosystem, connecting businesses to their target consumers.

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Hodlers Can Earn Attractive Interests by Investing into Hodlnaut Crypto Loans Platform (www.blockcast.cc)

The cryptocurrency industry has been constantly evolving since Bitcoin made its first appearance over a decade ago. What started as a simple, decentralized, peer-to-peer method for value exchange has now given birth to Decentralized Finance (DeFi) movement. By leveraging the benefits of cryptocurrency’s underlying blockchain technology, DeFi offers a range of alternative financial services that are close to, if not on par with many of its counterparts in the traditional financial sector.

Over time, the adoption of cryptocurrencies has increased among people. Many opt for cryptocurrencies as part of their investment portfolio and hodl it with an expectation of its value appreciating in the near future. But what if there is an opportunity where their crypto funds actively generate returns in the form of interest over regular intervals while they wait for their value to appreciate? This is where platforms like Hodlnaut enters the picture, providing the crypto community with a way to invest their holdings and earn interest on it.

Based out of Singapore, Hodlnaut is a financial services platform that was launched in April 2019. The platform comes under the gambit of the Monetary Authority of Singapore (MAS), and satisfies all the regulatory requirements of Digital Payment Token license (DPT license) which is yet to be issued under the recently introduced Payment Services Act (Jan  28, 2020).

Hodlnaut is designed mainly for individual investors, enabling them to earn interest on cryptocurrencies by lending it to margin traders in the form of crypto loans. The platform currently supports three major cryptocurrencies viz., BTC, USDT & USDC while offering annual compounded interest rates ranging from 6% to 8.3%, depending on the type of cryptocurrency. All deposits on Hodlnaut automatically earn the best interest rate, depending on the market demand and previous month earnings.

The platform is a creation of two entrepreneurs Juntao Zhu and Simon Lee, together holding a collective experience in financial software development, cryptocurrency trading, designing arbitrage and investment strategies, and more. Their project is backed by some of Asia’s leading institutional digital asset traders and VC firms including Antler, Three Arrows Capital, Sparrow, Singapore Management University and BitGo. It is also worth noting that Hodlnaut is also a member of the prestigious Singapore Fintech Association.

Making it as simple as possible for its target audience – individual investors, the platform offers an easy sign up process with a no-nonsense user-friendly interface. While opening an account on Hodlnaut, users should mandatorily complete the KYC process. Once done, they can access all the account related information and manage their investments from the dashboard. Further, the platform doesn’t enforce any minimum deposit or minimum lock-in period policies to ensure users are always in control of the funds.

Hodlnaut is gradually gaining popularity among crypto users as a trustworthy platform to earn better returns on their crypto investments, thanks to their flexible deposit and withdrawal options, better interest rates and state-of-the-art security features. Having operated for a bit over a year, the platform has already registered more than 500 investors and assets over 750 BTC, which continues to grow with more investors prepared to jump on to the bandwagon.

Join Hodlnaut at – https://app.hodlnaut.com/signup

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Ex-CIA agent drags Microsoft’s crypto patent into right-wing conspiracy (www.blockcast.cc)

Cryptocurrencies are not immune to the feverish climate in 2020 — a year in which the line between mainstream politics and an online morass of conspiratorial theories is becoming ever more blurred.

Former CIA counterintelligence and staff investigator Kevin Shipp, who has close to 150,000 followers on Twitter, has now dragged a recent Microsoft cryptocurrency patent into the quagmire.

On Sept. 10, Shipp linked Microsoft’s recent cryptocurrency patent, which would enable users to mine crypto using their body activity data, to a short-lived Microsoft ad that had featured the Serbian performance artist Marina Abramovic. 

The ad, which promoted a new mixed reality headset from Microsoft called HoloLens 2, was notably pulled after far-right internet users targeted the video in protest against Abramovic’s alleged Satanism. 

Shipp’s Twitter feed provides ample evidence of his taste for conspiracy — Abramovic and Gates are just two of many public figures tarred with the brush of “shadow government” connections, purported paeodophilia advocacy, “Antifa” insurgency and “black supremacy.”

In recent months, conspiratorial far-right politics is no longer easy to dismiss as a fringe phenomenon; witness the rise of Qanon, a web of proliferating theories that casts Donald Trump as a valiant warrior against a Satanist, deep state cabal sunk in paedophilia and child sacrifice.

Nor is Shipp the first to fixate on the seemingly obscure case of “Microsoft patent WO2020060606.” Earlier this year, the renowned Oscar-winning film director Nikita Mikhalov told Russian state-owned media outlet RT that the cryptocurrency patent was testament to Bill Gates’ nefarious plans to use vaccination as a ruse to implant humanity with microchips. 

Zeroing in on the patent’s name, Mikailov remarked:

“The 060606 part is somewhat alarming. You probably understand this, right? Is this a coincidence or an intentional selection of such a symbol, which in the Apocalypse of John is called the ‘number of the beast’ – the 666.”

For a sober look at Microsoft’s patent beyond the conspiratorial fog, Cointelegraph published an article which outlined the details of the technology and proposal in March of this year.

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Exploring the way out of DeFi: How does Maker introduce physical assets into DAI step by step? (www.blockcast.cc)

Maker will focus on introducing physical assets as DAI collateral. Currently, the assets submitted in the Maker official forum include real estate, national debt, supply chain finance and gold.

Original title: “How Maker introduces physical assets into Dai”
Written by: MakerDAO

DeFi is using blockchain technology to innovate traditional finance, making funds more open, transparent and free to flow. As an innovator in the DeFi field, Maker will focus on introducing physical assets as Dai collateral in the next 1-3 years, which is crucial for the large-scale application of DeFi into the real economy.

Exploring the way out of DeFi: How does Maker introduce physical assets into DAI step by step?

Currently, the assets submitted in the Maker official forum include real estate, treasury bonds, supply chain finance, gold, and commodity indexes. We will introduce these assets one by one:

New Silver-Real Estate Mortgage Loan🏠

Founded in 2018, New Silver mainly provides fixed-rate mortgage services for US real estate. New Silver’s proprietary technology can automate loan origination and improve underwriting efficiency, and use data to reduce loan default risks.

New Silver uses the Centrifuge protocol to implement asset tokenization (NS-DROP), and cooperated with the Maker Foundation for the first time in the summer of 2019, and issued the first real estate mortgage Dai on a pilot basis.

Detailed application information

Exploring the way out of DeFi: How does Maker introduce physical assets into DAI step by step?

PAX Gold-Tokenized Gold🌟

Bitcoin is often compared to “digital gold”, but there is still an order of magnitude gap compared with gold’s market value of nearly 8 trillion US dollars. The introduction of gold assets into DeFi will undoubtedly greatly improve Dai’s stability and liquidity and expand the boundaries of cryptocurrencies.

PAX Gold (PAXG) is an ERC20 gold token issued by Paxos Trust Company on Ethereum. Paxos is the first chartered trust cryptocurrency company to be supervised by the New York State Department of Financial Services.

PAXG’s underlying assets are London standard delivery gold bars approved by the London Bullion Market Association (LBMA). Users can purchase PAXG through the official PAXOS website. Each PAXG corresponds to one ounce of gold hosted by Paxos. Currently PAXG has a market value of 56 million US dollars.

Detailed application information

PAXG has passed the June Dai collateral asset audit, and the Maker risk team is further evaluating PAXG.

Exploring the way out of DeFi: How does Maker introduce physical assets into DAI step by step?

Arca-Treasury Bond Fund💵

Treasury bonds are the most accepted and largest collateral category in the world. How to bring Treasury bonds assets to DeFi?

Arca is an investment management company focusing on digital assets and blockchain technology. Its Arca US Treasury Securities Fund is the first digital asset trading fund of this category registered with the US Securities and Exchange Commission (SEC).

Arca issues digital securities on the Ethereum public chain in the form of ArCoin. By purchasing ArCoin, users can invest in low-volatility assets, including 1-year, 2–10 and 10-year US government bonds.

Compared with traditional financial assets, ArCoin’s KYC holders can perform point-to-point real-time transfers. Second, anyone can track transactions and audit on the Ethereum blockchain in real time. In addition, the entire process does not require an intermediate broker.

ArCoin is applying for Dai’s collateral, detailed application materials .

Exploring the way out of DeFi: How does Maker introduce physical assets into DAI step by step?

Harbor-Supply Chain Finance🚚

Global supply chain finance has a total market value of 10 trillion U.S. dollars. As a company’s capital flow agent, the introduction of DeFi in the supply chain can more efficiently solve the company’s capital flow problem. Currently, three supply chain financial solutions are applying for Dai’s collateral.

Harbor is a financial technology company established in 2018, focusing on supply chain finance (SCF) and working capital turnover solutions. Harbor’s accounts receivable program allows buyers to obtain liquidity funds through credit and make timely payments to suppliers. Harbor’s dedicated technology platform not only reduces costs and simplifies work processes, but also enables better supplier and procurement management.

Harbor Trade Credit launched by Harbor uses the Centrifuge protocol to initiate asset tokenization (HTC-DROP), and is expected to accumulate approximately US$25 million in capital in the next year.

Detailed application information

Exploring the way out of DeFi: How does Maker introduce physical assets into DAI step by step?

ShuttleOne-Supply Chain Finance🚚

ShuttleOne is a digital asset and blockchain infrastructure company headquartered in Singapore. It mainly provides remittance, microfinance and trade financing services for government agencies and enterprises in Southeast Asia.

ShuttleOne cooperates with the global supply chain platform Global eTrade Services (GeTS) to use its electronic logistics product CALISTA to tokenize freight bills (CAT) for trade financing on Ethereum. In the first half of 2020, ShuttleOne has provided more than US$300,000 in trade financing to more than 30 merchants in Southeast Asia and China.

CAT is applying for Dai’s collateral, detailed application materials .

Exploring the way out of DeFi: How does Maker introduce physical assets into DAI step by step?

ConsolFreight-Supply Chain Finance🚚

ConsolFreight is a technology solution company established in 2016 dedicated to helping freight forwarders improve the liquidity of their operating funds and realize the digitalization of their logistics business. ConsolFreight cooperates with the Maker Foundation to use Dai to provide international trade service providers with efficient and fast supply chain financing solutions. In May 2019, the first batch of 250,000 Dai was piloted.

ConsolFreight uses the Centrifuge protocol to tokenize the assets of freight forwarding bills (CF-DROP), and is applying for Dai’s collateral (the first batch of 5 million US dollars is expected to be required). Detailed application materials .

Exploring the way out of DeFi: How does Maker introduce physical assets into DAI step by step?

WiV-Wine Commodity Index🍷

Commodity index is a kind of tangible bond asset with a history of hundreds of years. How can it be given new vitality under the technological trend of DeFi?

WiV Technology focuses on designing blockchain-based asset management technology for wine producers, located in London, Oslo and Singapore. WiV Technology has created a tokenization platform for wine commodities to truly and securely trade commodity assets and convert them into financial instruments. In 2019, WiV Technology was awarded the Excellence Award by the European Union’s Horizon 2020 program. In February of this year, WiV Technology cooperated with OpenSea to launch the WiV ERC721 token trading and clearing market.

WiV Technology launched a tokenized wine commodity index fund (WiV) on Ethereum for the trading and investment of high-quality wine. Each tokenized wine is under the safe custody of Unique Asset Custody Limited under the jurisdiction of the laws of the United Kingdom and Wales, and provides comprehensive insurance. Ernst & Young is its technology and audit partner.

WiV is applying for Dai’s collateral, detailed application information

Exploring the way out of DeFi: How does Maker introduce physical assets into DAI step by step?

Paperchain-Tokenized Music Streaming Media🎵

Internet streaming media services have become the mainstream mode of music consumption, with a global market value of more than 100 billion U.S. dollars. The combination with DeFi has the opportunity to bring convenience and contractual guarantees to the music streaming industry.

PaperChain is a technology company that provides streaming media data analysis services for musicians. It evaluates musicians’ creations on mainstream streaming media platforms such as Spotify, Apple, and YouTube, and helps them earn more copyright revenue. Now, PaperChain adopts the Centrifuge protocol to realize the tokenization of music streaming data (PC-DROP), and with the help of DeFi loan agreement, it conducts credit evaluation and guarantees for the revenue of musicians and labels, and helps music creators with a monthly rate of 1% The cost of getting income in advance.

At the London DeFi Summit in October 2019, PaperChain collaborated with the Maker Foundation to show that it would advance 60,000 Dai to a music label on the Spotify platform through the Tinlake financial application. The entire process was less than 30 minutes, the transaction cost was less than US$3, 45 days earlier than expected, and the interest rate was reduced by 80%. PaperChain predicts that in the future there will be more than US$2 million in financing needs per month. ( Learn more )

PC-DROP is applying for Dai’s collateral, detailed application materials .

Exploring the way out of DeFi: How does Maker introduce physical assets into DAI step by step?

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