人民网 · 140

Analysis: Stablecoins are only a side effect of creating demand for US debt investment. It may be possible to pay tuition fees in Hong Kong in the future

Comparing news, “China Economic Weekly” interviewed Zhu Taihui, a special senior researcher at the National Finance and Development Laboratory, and pointed out that it is inappropriate to call this year the “first year of compliance” for stablecoins. The focus of US stablecoins development is not to ease debt; creating a new investment demand for US treasury bonds is only a side effect. Currently, some stores and shopping malls in the US, Singapore, Europe and other places already support on-site stablecoin payments. In Hong Kong and other regions, with the gradual opening up of regulatory policies and the maturity of technology, it may become a reality for individuals to use stablecoins to pay tuition fees in the future. (People's Daily News)

402d ago

Bank of China's cross-border e-commerce B2B digital yuan application solution launched

Comparative news, according to People's Daily News, the Digital Currency Office of the Bank of China Head Office recently released the “Bank of China Cross-border E-commerce B2B Digital Yuan Application Solution”. The solution improves the cross-border payment experience through digital yuan exploration, provides comprehensive services such as cross-border capital circulation, Chinagoods order information matching, and foreign exchange compliance for all parties involved in cross-border commerce and trade, and achieves the goal of “opening up the entire system horizontally and vertically at home and abroad” by building an umbrella wallet structure. At present, this model has been successfully implemented among some customers in Yiwu Commodity City.

1000d agokitten4btnews#Bank of China #Digital yuan #digital currency

DePin: A bridge between the real world and blockchain

Experiments like DePin are still in their infancy, trying to connect the digital world with the real world and build new infrastructure. Original Author: 1Z, KetchupDAO Founder New Stuff: What is DePin? De: De: Decentralized P: P hysical P: physics I: I nfrastructure I: infrastructure N: N etworks N: network literal translation: decentralized physical infrastructure network. Simply put, it is a system that uses tokens to motivate and drive the public to join forces to build physical infrastructure networks in the real world. The bottom-up approach starts from the perspective of personal value, motivation, privacy, and cost performance to build a basic set of informatization services. Building bottom-up infrastructure is nothing new in history: at the edge of the oasis, simple post stations initially only supplied caravans with supplies (similar to basic nodes in DePin). Merchants and craftsmen gathered here, and the post station gradually prospered, and eventually evolved into transportation and cultural centers such as Chang'an and Dunhuang. These spontaneous post stations, due to their unique value and service, were gradually connected, and eventually built a spectacular Silk Road. The formation of the entire Silk Road is decentralized infrastructure construction, which reflects real-world decentralized synergies based on individual needs and values. The construction of this bottom-up decentralized digital world will also bring about robustness, stability, and network effects. However, a major drawback of the bottom-up drive, devoid of credit and motivation, is that it is “slow.” Web3 decentralized credit and a variety of token incentives are just added, which can solve the problem of “fast and slow” efficiency very well. The elimination of human-machine boundaries Hashkey designed a sophisticated formula for Depin: Web3 + AIoT = DePin. It captures the idea of harnessing the value that AGI creates in the Internet of Things through Web3. DePIN can be viewed as the next stage of evolution of A IOT. In this new stage, artificial general intelligence (AGI) empowers devices with brain and consciousness, while Web3 provides basic credit, value, incentives, equity, supply-demand matching, etc. for bottom-up IOT network construction. IoT devices are mapped to on-chain assets, and devices are given an immutable device identity (DID) and value container (wallet). Further, data collected by devices and execution actions can all be tokenized and exchanged with humans or other devices through decentralized exchanges (DEX). Let the “machine” be “us.” (To allow machines to communicate with people, and machines to machines, this is the original intention of creating QQ - IOT 9 years ago to assign a QQ number to each device. Boundaries: Take the burden off DePin from imagination to the present. According to the definition of “decentralized physical infrastructure,” almost any distributed network can be classified as DePin: Filecoin, Arweave: Decentralized Hard Drive Ethereum: Decentralized Computer Bitcoin: Decentralized Ledger, but apparently, the definition is too broad and easy to lose focus. The concept of Depin narrowly defined by Mason Nystrom describes specific types of networks more accurately, distinguishing “decentralized resource-based networks” (DePIN) from “decentralized infrastructure networks” (DePIN), which makes DePin no longer a generic term for all distributed networks, but a type of network with specific characteristics and functions. DePins and DeRen are both network concepts that optimize the distribution and use of hardware resources through incentives, but their application and functionality in dealing with resource fungibility and geographical dependency are different. DePin: A network model with geographical location as a key element. It uses incentives to deploy geographically specific hardware devices to generate non-homogenized resources. How do you understand irreplaceable? Mobile phone base stations (China Tower) can be seen everywhere in the city. However, the same type of base station, base station A is in Tsim Sha Tsui and base station B is in Shatin, but due to geographical differences, they are not interchangeable. In this sense, every base station is a unique and non-homogenized resource. DeREN: A resource-based network that is less geographically dependent, its...

1105d agody zhang#AGI #DePin #DEX #Filecoin #Helium #SOL #USDT #web 3.0 #Ethereum #Ethereum #Platform coins #Bitcoin #Bitcoin

01 Yuanuniverse Weekly Report: Zhejiang: Promoting the chainization, scale and internationalization of the metaverse industry in all aspects; preparations for the Beijing Metaverse Industry Innovation Center have officially started!

This report is for informational purposes and does not constitute investment advice. [Policy Express] 1. Zhejiang: Promoting the chainization, scale and internationalization of the metaverse industry on July 6, Zhejiang held the Provincial High Quality Platform Economy Development Conference and issued the “Implementation Opinions on Promoting the High-Quality Development of the Platform Economy”. The opinion mentioned encouraging innovation in future scenarios of the platform economy. Platform companies are encouraged to use innovative technologies such as blockchain, digital twins, and extended reality to create diverse application scenarios for the future. Accelerate the construction of new advantages in the future metaverse industry, support diversified entities to build comprehensive metaverse testing platforms, strengthen the application of the metaverse in multiple scenarios, and promote the chainization, scale and internationalization of the metaverse industry in all aspects. (Released in Zhejiang) [Industry News] 2. Preparations for the Beijing Metaverse Industry Innovation Center have officially started! On July 6, during the Internet 3.0 Summit Forum of the Global Digital Economy Conference, preparations for the Beijing Metaverse Industry Innovation Center were officially launched. According to information, the Beijing Metaverse Industry Innovation Center focuses on six major tasks, including technology, applications, scenarios, data, standard patents, and governance, and organizes rendering engines, digital people, digital space, XR equipment, AIGC and other related enterprises to create open and open source editing tools. The Beijing Metaverse Industry Innovation Center cooperated extensively with upstream and downstream enterprises in the industrial chain, and the first batch brought together more than 40 domestic enterprises and institutions. Next, the Beijing Metaverse Industry Innovation Center will complete corporate registration as soon as possible. (Enterprise Alert) 3. The Beijing Digital Asset Registration Platform announced the first batch of distribution platforms: Lingjing, Digital Yuan, Hongwei, and the 2023 Global Digital Economy Conference (GDEC) “Data Elements Summit” was held in Beijing on July 6. At the conference, the first batch of entrants to the Beijing Digital Asset Registration Platform were announced. Tianxiaxiu Digital Technology Group, Beijing International Design Week, Cultural and Creative Brand Alliance Chain, China Philatelic Co., Ltd., Shanghai Free Trade Zone Free Trade Digital Art Platform, etc. became the first partners. (Tianxia Show) Hongyu (China) Digital Trade Digital Art Platform (Xinhua) Reijing became the first distributor of the platform platform. (Shanghai Securities News) 4. Vice President of China Telecom Research Institute: To develop the metaverse, it is necessary to lay out computing power industries such as GPU chips and 6G ahead of time. At the 2023 World Artificial Intelligence Conference 6G Intelligent Network and Computing Forum, Li Anmin, vice president of the China Telecom Research Institute, said that the development of the metaverse will push the world into the intelligent computing power era. The strong demand for intelligent computing power and bandwidth in the metaverse era will bring huge opportunities for the large-scale development of 5G and the implementation of the country's “East Digital and Western Computing” strategy and the development of artificial intelligence and chips. Li Anmin said, “In the long run, computing power requirements of more than a thousand times and bandwidth requirements of more than 100 are the foundation for the healthy development of the metaverse, so it is necessary to plan and lay out the construction of 10 gigabit broadband, 6G, intelligent computing power networks, and intelligent computing power industries such as GPU chips in advance.” (Pengpai News) 5. Qualcomm Global Vice President: The maturity and widespread application of AIGC will greatly improve the production efficiency of metaverse content. On July 7, at the 2023 World Artificial Intelligence Conference, Cheng Lixin, senior vice president of Qualcomm Global, said that 5G and AI technology will enable new application services, environments and experiences in the metaverse. Currently, we see that the development of XR is largely limited by the high cost of content production and the fragmentation of the application ecosystem. The maturity and wide application of AIGC will greatly improve the production efficiency of metaverse content. (Pengpai) [Domestic News] 6. Tencent responded or reached a partnership with Meta VR headset: No comment. On July 4, there was news that Meta will return to China and has already discussed with a number of Chinese technology companies. Currently, it may cooperate with Tencent. The latter may become an exclusive dealer for the Meta Quest series headsets and will develop VR games for Quest headsets. In response, Tencent said it would not comment. (Science and Technology Innovation Board Daily) 7. Beijing Institute of Technology issued the “Metaverse” acceptance letter. On July 5, Beijing Institute of Technology issued the 2023 undergraduate admission notice, with the theme “The Future Has “Reason” and includes the Beijing Polytechnic “Metaverse” space. It is the first “metaverse” acceptance letter in the country. According to reports, the “Beijing Polytechnic Metaverse” was developed by the Beijing Key Laboratory of Digital Performance and Simulation Technology at the School of Computer Science, and the research team of the School of Design and Art is responsible for visual design. This team provided technical support and support for the 2008 Beijing Olympics, the 70th anniversary celebration of the National Day, the 100th anniversary celebration of the founding of the Party, and the 2022 Beijing Winter Olympics. (China Education News Network) 8. People's Daily: Promoting the development of health standards in the virtual human industry On July 3, the People's Daily pointed out that the virtual human industry, as a new technology facing the future, requires technological innovation and...

1138d ago01区块链#01 metaverse

The national team comes in! Inventory of 9 digital collection platforms with a central media background

Since the official launch of “Central Digital Collection” on September 16, almost all domestic central media have entered the digital collection market. This is undoubtedly a big move for the development of the domestic digital collection market. Whether the national media digital collection platform, which acts as a weather vane, can become the top digital collection platform in a new round is also a hot topic that many people are concerned about. Up to now, there are 9 digital collection platforms with a central media background: Lingjing People's Art Museum, Xinhua Digital Collection, Time Collection, Panther and Panther Youth Universe, Guangming Art, People's Science and Technology Digital Collection, China Open Art Cloud, Guangming Digital Collection, and Central Digital Collection. (In no particular order) Lingjing People's Art Museum Launch time: January 25, 2022 Background: People's Online Chain Information: People's Chain (Alliance Chain) Entrance: WeChat Official Account Menu, “People's Network+” App Search “Lingjing People's Art Museum” is a digital collection platform launched by People's Online. It was launched in January 2022. Since its launch, a total of 14 series of digital collections have been distributed, with a total of 60 models. The “Lingjing People's Art Museum” is positioned to help popularize popular works of art, provide more display space for art enthusiasts, provide services such as digital copyright protection, digital publishing, digital transformation, and digital certification (blockchain) of works of art, use digital technology to serve popular art, promote the healthy development of the popular art market, and bring art into the homes of ordinary people. Since its launch, the platform has sold authorized digital collections of original works by Liang Xiaosheng, digital collections of famous ancient paintings such as Yan Liben's “The Picture of a Thousand Mile Rivers” by Wang Ximeng, and Qi Baishi's digital ink painting with the theme of “The Wonderful Creation of Nature.” In terms of music, the Jewell Music and Thin Box Mints platforms jointly launched the “Jay Chou Limited Collection Demo Space” music metaverse event in September, and the “Spiritual Realm People's Art Museum” opened an exclusive channel directly to “Jay Chou's Metaverse Space”. (Data source: ForeChain NFT Database) Judging from the data provided on the platform, 86.67% of the digital collections distributed by the “Lingjing People's Art Museum” had an issue price of less than 100 yuan. According to the data collected so far, the platform sold a total of 240,975 digital collections, totaling 6,840,701 yuan, of which 20 digital collections were sold out. (Data source: ForeChain NFT Database) Xinhua Digital Collection Launch Time: April 5, 2022 Background: Xinhua Online Chain Information: Xinhua Spark Chain (Alliance Chain) Entrance: Xinhuanet App Search, Official Account Menu Xinhua Digital Collection is a digital collection platform launched by Xinhuanet. It was launched in April of this year. Currently, a total of 100 digital collections have been distributed. The Xinhua Digital Collection is positioned to use digital collections to help public welfare undertakings. On April 29 and May 23, Xinhuanet released two editions of the “Rural Revitalization” digital collection and donated all sales proceeds to the China Football Development Foundation to support the “County Youth Happy Soccer Charity Tour”. This is also the launch sign of the central media's first public welfare support program based on digital collections. The plan will focus on the field of public welfare, give full play to the field of rural revitalization and public welfare, and promote the construction and development of rural revitalization, emergency rescue, social assistance, and protection of women and children. Most of the digital collections in the Xinhua Digital Collection focus on the two aspects of “public welfare” and “rural revitalization,” so most of the digital collections within the platform are co-branded with foundations or museums. “Lingjing People's Art Museum” is a digital collection platform launched by People's Online. It was launched in January 2022. Since its launch, it has distributed 14 series of digital collections, with a total of 60 models. (Data source: ForeChain NFT Database) Judging from the data provided within the platform, 30% of the digital collections on the platform are free, and the rest of the distribution price is less than 100 yuan. According to the data collected so far, the platform sold a total of 104,606 digital collections, totaling 221,1767.9 yuan, of which 37 digital collections were sold out. (Data source: ForeChain NFT Database) Online time: March 17, 2022 Background: China Search (under Xinhua News Agency, People's Daily, etc.) On-chain Information: Media Integration Chain (Alliance Chain) Entrance: Shizang App, WeChat Official Account Menu Shizang is a digital collection platform created by “China Search” under Xinhua News Agency. It was launched in March of this year. According to the official report, Shizang embodies time and space across domains and remembers eternal beautiful hopes. The original purpose was to use blockchain to witness the great times, record important historical moments, treasure beautiful moments in time and space, promote outstanding traditional Chinese culture, and enhance national cultural self-confidence. Therefore, the “China Good Story” image of Hanfu cute babies was used as the first collection. (Data source: For...

1391d ago01区块链#01 Blockchain #Digital collections

Metaverse Week丨Apple was granted a patent by Digital Crown; Microsoft's vice president published an article on the industrial metaverse; Hong Kong launches the world's first metaverse twin campus

Overview Recently, the United States Patent and Trademark Office (USPTO) recently announced an authorized Apple patent relating to the Digital Crown, or components for Apple's future MR headsets. In fact, rumors about Apple's MR headset have been circulating for a long time, and now the forecast time for this device to go on sale is changing over and over again. The famous Apple analyst Guo Mingyi previously claimed that Apple's first headset device will not be on the market until 2022 at the earliest. Soon, Guo Mingyi tweeted his personal predicted Apple MR headset schedule, believing that Apple's MR headset may go on sale in the second quarter of 2023. It's worth mentioning that AR/VR headsets are considered the key entry point to the metaverse, but Apple's “metaverse” seems to have become a forbidden word. Cook said in an interview with “Time”: “Metaverse and AR are obviously two different words; we'll just call them AR.” Apple's MR devices combine the characteristics of VR and AR, which means MR technology allows the real world to coexist with the virtual world and interact instantly. We will wait and see if MR headsets can become the most important products in the metaverse. Judson Althoff, Microsoft Global Executive Vice President and Chief Commercial Officer, published the article “From Resilience to Digital Constancy: Using Digital Technology to Meet the Changing Times” on Microsoft's official website. In the article, he pointed out that the industrial metaverse has the potential to simultaneously enhance supply chain flexibility, business efficiency, and sustainability. Earlier, Microsoft announced that Kawasaki Heavy Industries has become a new customer in its “industrial metaverse” business. By wearing headsets to assist production, maintenance, and supply chain management, in addition to Microsoft, tech giant Nvidia will also implement the industrial metaverse through Omniverse platforms, AI, and computing technologies. It can be seen from this that the industrial metaverse has huge economic value, and its application scenarios will cover the entire product life cycle from R&D to after-sales service, and promote the efficient development of the real industry. Compared to the consumer metaverse, the industrial metaverse can bring about many substantial changes in technological production, etc. The metaverse era is dawning, and we're looking forward to it. Below are the details of this weekly issue. Our Metaverse mind divides it into two major sections: Important News and This Week's News List. Please enjoy: METAVERSE Important News [Social media company Snapchat is about to launch a new AR game “Ghost Phone”] Recently, Snapchat announced that it will soon launch a new in-game app “Ghost Phone”, which can turn smartphones into AR-driven devices. [Qualcomm strengthens cooperation with Samsung to focus on developing XR technology] Qualcomm recently announced that it has strengthened its partnership with Samsung to expand cooperation on its Snapdragon XR platform. The partnership will allow Qualcomm to expand future cooperation with Samsung products, including XR, smartphones, laptops, tablets, etc. It is also extending the mobile technology patent license agreement covering 3G to 5G and future 6G components until the end of 2030. [Doctor successfully separated conjoined babies through VR simulation surgery training] Recently, with the help of VR technology, a pair of Brazilian conjoined babies with connected heads successfully underwent separation surgery. Using VR technology, medical professionals from many countries at Great Ormond Street Hospital for Children (Great Ormond Street Hospital for Children) in London, England, can “travel” to Rio de Janeiro, Brazil, and assist local doctors in completing complex conjoined baby separation procedures. [Meta brings VR/AR experience to France's 2023 Rugby World Cup] Recently, Meta's official supplier team brought the VR experience to France's 2023 Rugby World Cup promotional train. According to information, France's 2023 Rugby World Cup (RWC2023) will be held in France from September 8 to October 28, 2023. From July 21 to November 12, 2022, there will also be a World Cup promotional train going back and forth across France to introduce the participating teams and the history of rugby. [Apple has been granted a Digital Crown patent, or Apple's future MR headset component] According to PatentlyApple, the US Patent and Trademark Office (USPTO) recently announced an authorized Apple patent. This patent is related to the Digital Crown. It may be part of Apple's future AR/VR headsets, or may eventually be extended to smart glasses. [Nansen: About 2.7 billion US dollars of ETH was used to mint in the first half of the year...

1475d ago元宇宙之心MetaverseHub#Digital crown #MetaverseHub #NFTs #OpenSea #metaverse

When NFTs meet Chinese-made digital collections, can they get rid of hype and financialization?

In an age where technology is running faster, the “universe” needs to be virtualized, and collections also need to be digitized. The metaverse craze continues. Today, digital collections are already gaining popularity in the country. Not only is the consumer side popular, but the corporate side is also showing positive performance. Leading internet companies, arts and culture institutions, and even a large number of banks are issuing digital collections one after another. For a while, digital collections that seemed to be cutting-edge and trendy seemed to have entered the homes of ordinary people. But behind the heat, is there real market demand, or should you not use it for anything else? When it comes to digital collectibles, you can't get around their original form — NFTs (Non-Fungible Tokens, Non-Homogenized Tokens). Since its inception, disputes over NFTs have fluctuated as their market prices. Since May of this year, the global NFT market has experienced major turbulence due to virtual currency price dives. Words such as hype, fraud, and bubble are once again revolving around the price of NFTs, which can easily be hundreds of thousands or even tens of millions of dollars. Domestically, de-financialization has become the general direction for regulating NFTs. After the boom in the secondary market, NFTs became digital collections in China and became popular cultural IP routes. Although second-level trading services for digital collections are not permitted domestically, on some platforms, digital collections are still in circulation, doubling their value. Can a digital collection that appears to be separated from the NFT zone actually get rid of its financial attributes? New digital collection trading terms added to the WeChat public account A few days ago, the WeChat public platform added provisions relating to digital collection transactions, clearly stating that engaging in virtual currency or digital collection business is illegal, and that providing second-level digital collection trading services will be blocked. Examples include providing transaction entrances, guidelines, distribution channel guidance, etc. As a result, a number of digital collection public accounts were banned. Image source: Screenshot from the WeChat account As the Chinese version of the NFT, the digital collection comes with its own financial attributes. In June of last year, Alibaba (HK09988, stock price HK$113.2, market capitalization HK$2.46 trillion) launched two limited-edition collections with a single price of 9.9 yuan, which sold out once they went on sale. Afterwards, one of the digital collections called “Dunhuang Flying Sky” was sold at a sky-high price of nearly one million on the second-hand trading platform Leisure Fish. This sky-high price hype in the secondary market ended with the platform removing the product. But it has also prompted major domestic platforms to be more wary of the risks of financializing digital collections. For example, in Whale Scouts, players currently need to hold it for 180 days before they can transfer digital collectibles free of charge to friends through the platform. A digital collection resale sticker on the second-hand trading platform Saltwater Fish. Image source: Screenshot from the platform Are the financial risks of digital collections really difficult to solve? Recently, Ouke Cloud Chain (HK01499, share price HK$0.177, market capitalization HK$951 million) and Sina Finance held an online forum on digital collections. Zhang Yanlai, the first lawyer in China's NFT digital collection infringement case, believes that there are indeed financial risks in the current digital collectibles industry. Many products themselves do not have much value, yet issuers guide public speculation and investment through massive overruns and active markets, thereby seeking benefits. “However, judging from the initiative of the three associations in April of this year, the value of NFTs has been affirmed. The focus is on whether the price of NFTs is supported. Like a boring ape, an avatar sells for millions of dollars, but if there is support behind its price, not a bubble, then even if it is very expensive, it cannot be said that it has financial attributes, because it is essentially a type of valuable asset.” Zhang Yan said. The initiative of the three associations mentioned by Zhang Yanlai refers to the “Initiative on Preventing Financial Risks Related to NFTs” jointly issued by the China Internet Finance Association, the China Banking Association, and the China Securities Association. The initiative stated that it should resolutely curb the trend of financialization and securitization of NFTs, not provide services such as centralized transactions (centralized bidding, electronic matching, anonymous transactions, market makers, etc.), continuous listing transactions, standardized contract transactions, etc., and set up trading venues in disguise in violation of regulations. Wang Pengfei, CEO of Digital Collection China, said that currently there are probably no less than 50 digital collection platforms with second-level trading functions, and these platforms actually lack supervision at all. “Hype items can be listed at any time, even NFTs that are on the blockchain or not, and can be modified. At this time, users may not even know what they are buying, so the investment can easily go back to zero.” Taking iBox, a digital collection e-commerce platform, as an example, the “Daily Economic News” reporter browsed its official app and found that its purchase interface is divided into “initial launch” and “consignment.” Judging from actual operation, the holder can sell the collection at a fixed price, which is no different from a second-level transaction. Take a digital collection with a limited edition of 1,000 copies called “Pink Ink Debuts” as an example. From the first consignment sale on June 22 to June 26...

1508d agody zhang#NFTs #Digital collections #finance

People's Daily News: After all, virtual currency is a dream, a Ponzi scheme

Recently, Bitcoin plummeted all the way to falling below the $18,000 mark on June 19. This is the lowest point of Bitcoin since December 2020, and the risk of virtual currency trading hype has once again become the focus of public opinion. In recent years, virtual currency prices have frequently skyrocketed and plummeted. China's financial department has issued numerous documents clarifying that virtual currency-related business activities are illegal financial activities and reminding investors to be wary of risks. “What exactly is virtual currency?” The author of this article believes that virtual currency is becoming the biggest Ponzi scheme in human history. In order to maintain this scam, the coin industry is looking for ways to cover it with various coats. Since Satoshi Nakamoto released “Bitcoin: A Peer-to-Peer Electronic Cash System” in 2008, leading to the official birth of Bitcoin, the controversy surrounding virtual currency (Cryptocurrency) has not stopped for a moment. Followers of so-called “decentralized” currencies regard it as a belief, believing that virtual currency will eventually lead them to their ideal hometown; others think that virtual currency is just another paradise created for speculators; there are also those who resolutely oppose and resist virtual currency. Among the top 100 richest people in the world, at least 90 have publicly expressed their “singing and deception” attitude towards virtual currency, including Microsoft founder Bill Gates and “stock god” Warren Buffett. Warren Buffett believes that the only thing that can be certain about virtual currency is that “it will not generate any value,” and he publicly stated that “Bitcoin is rat poison, you must stay away from it.” And his old partner Charlie Munger bluntly stated that investing in Bitcoin is an “evil and stupid” thing. “What exactly is virtual currency?” As far as its essence is concerned, the author believes that virtual currency is undoubtedly the biggest Ponzi scheme in human history. (1) The old scam, the new form of the so-called “Ponzi scheme,” is simply to absorb capital by promising high returns, and then use new investors' funds to pay interest to previous investors to create the illusion of making money, and then defraud more money until this snowballing method becomes unsustainable, so the lie is revealed and the bubble bursts. Traditional Ponzi schemes revolve around high cash returns, and “high interest+savings” are the two most prominent characteristics. With the development of the financial sector, Ponzi schemes have also evolved into a new form. They no longer only revolve around cash, but are covered in the guise of rights and interests. This type of Ponzi scheme can be classified as an “equity type”. It has three main characteristics: first, it is based on equity that can be valued; second, the right can be traded and circulated; and last but most importantly, this right is not linked to any asset, production, labor, or social value, but is completely fabricated out of thin air. Value theory is the foundation of economics. Relying on value exchange, humans have built an economy and society, and the creation of social value must be realized through production, labor, and product circulation. The basic purpose of finance is to estimate the present value of social value that can be generated in the future based on the combination of existing production relationships and means of production, to achieve value transfer through transactions, and to provide investment and financing guarantees for the real economy. Equity Ponzi schemes are acts of fraud disguised as finance. One of the basic rules of finance: the farther a financial product is from reality, that is, the higher the degree of “dismissal from reality to fiction”, the greater its risk. Going back to the two world economic crises in the 20s and 30s of the last century and 2008, one thing they have in common is that finance “goes from reality to fiction.” For example, subprime loans are built on top of housing mortgage loans, and countless financial derivatives were designed in layers, causing them to eventually deviate from the real value of the corresponding property, triggering a subprime mortgage crisis, and eventually evolving into an economic crisis sweeping the world. The so-called “equity” of the equity Ponzi scheme is completely unrelated to any actual assets or production labor, so it has no real value. It can be thought that the distance between it and the real world is infinitely far, which means that its risk is close to unlimited. Comparing several basic characteristics of virtual currency, it is easy to find that it is very consistent with equity Ponzi schemes. 1. Equity. All virtual currency projects use mining or distribution to generate coins with no real value, and forcibly grant them a right based on fiat currency pricing through a series of names completely unrelated to the real world, such as “consensus value” and “common governance value.” 2. Liquidity. Obviously, all virtual currencies can be freely traded, and it is hard to imagine that the so-called “coin circle” would tolerate the existence of a virtual currency that cannot be traded. After years of development, virtual currencies already have many secondary trading markets, but many times these trading markets are not as open, transparent, and fair as people initially thought, but...

1517d agody zhang#NFTs #cryptocurrency #Ponzi scheme #virtual currency

Alibaba Cloud Announces Launch of NFT Solution; Mastercard Brings Web3 and NFT to Its Payment Network| Weekly Report

1. Domestic News China Payment Clearing Association proposes to promote a new digital yuan scenario, China Youth Daily launches digital collection platform “Panther Youth Universe” Alibaba Cloud announces the launch of an NFT solution, the first metaverse charity ecological photography exhibition in NetEase Yaotai, Shanghai Siba Culture Media enters the metaverse to create an immersive interactive metaverse social platform 2. International Dynamics The International Monetary Fund recommends environmentally friendly CBDC and non-PoW payment mechanisms The Jamaican Senate passed new legislation authorizing the country's central bank to issue CBDC and give it fiat currency status Mastercard Web3 And NFT introduces its payment network Samsung Asset Management will be listed on the Hong Kong Stock Exchange on June 23, and ETFHTC may release Viverse Metaverse Mobile 3 on June 28. Other developments Citibank: The metaverse economy represents a revenue opportunity of up to $13 trillion Report: The metaverse market is predicted to reach US$1542.9 billion by 2030. According to incomplete statistics from 01 Blockchain Zero-One Think Tank, last week (June 06, 2022 to June 12, 2022) and There were 46 blockchain and cryptocurrency related financing incidents. Of these, 38 revealed the specific financing scale. The total amount of financing was about US$447 million. Both the amount of financing and the total amount of financing were higher than the previous week. In terms of regional distribution, the US led with 10 financing incidents in a single month, Singapore and the UK followed with 5 and 4 cases in a single month, followed by 2 cases in China, Vietnam, and France, and 1 case each in Canada, Japan, Sweden, Indonesia, and India. In terms of rounds, Seeds/Angels (24 cases) accounted for the majority. There were 6 and 5 cases of strategic investment and round A, respectively, 2 cases of round B and mergers and acquisitions, and 1 case of debt financing and ICO. Notably, on June 7, 2022, the crypto asset trading platform PINTU completed Series B financing at a price of $113 million. The funding round was supported by Intudo Ventures, Lightspeed, Northstar Group, and Pantera Capital. It was also the biggest single funding event last week. In terms of scenarios, they are mainly distributed in on-chain applications (19 cases), digital asset application scenarios (16 cases), real economy-related application scenarios (8 cases), and infrastructure & solutions (3 cases). In terms of issuing institutions, Intudo Ventures, Lightspeed, Northstar Group, Pantera Capital, ODDO BHF Bank, investment funds True Global Ventures, HBAR Foundation, Animoca Brands, Andreessen Horowitz are the main players. The following are the details of blockchain project/company financing last week: Table 1: Top 10 blockchain financing amounts for the 2nd week of June 2022 Source: 01 Blockchain, 01 Think Tank Domestic and Foreign News Overview 1. Domestic Policy Orientation [Guangzhou Nansha will introduce measures to promote the development of the metaverse ecosystem and build a highland for the metaverse industry] On June 6, Guangzhou's Nansha New Area will soon introduce specific measures to promote the development of the metaverse ecosystem “Nine Metaverse Rules” to further help Nansha build a highland for the domestic metaverse industry. Zhong Weibin, director of the Nansha District Science and Technology Bureau, revealed that in order to promote the achievement of the above goals, Nansha will introduce special policies based on common policies to provide metaverse research platforms, small and medium-sized enterprises in the metaverse field, metaverse innovation alliance associations, venture capital funds and other entities in terms of technology research and development, industrial agglomeration, application scenarios, and financial support. Zhong Weibin said that 100 million yuan is allocated every year to support a single project up to 10 million yuan for collaborative research on key metaverse technologies. Financial rewards of 100% up to 5 million yuan, 70% up to 3 million yuan, and 50% up to 2 million yuan will be given to undertakings of national, provincial, and municipal projects, respectively. [China Payment Clearing Association proposes to promote a new scenario of digital yuan] On June 6, the China Payment Clearing Association issued a proposal to help stabilize the economy, which states that in order to further implement the “Notice of the State Council on Issuing a Package of Policies and Measures to Stabilize the Economy”, the China Payment Clearing Association advocates that member organizations help increase consumption. Do a good job in developing contactless payment products and services, and assist in issuing consumer vouchers and coupons...

1526d ago01区块链#01 Blockchain #Intudo Ventures #Lightspeed #NFTs #Northstar Group #Pantera Capital #WEB3 #Alibaba Cloud

Digital collections=NFTs? There is a more essential difference in connection

Recently, Fujian Province issued the “Reminder Letter from the Fujian Provincial Task Force to Clean Up and Rectify Various Trading Places” (hereinafter referred to as the “Reminder Letter”), which issued four reminders, including “Do not engage in NFT transactions without approval, and must not participate in NFT activities in disguise in violation of regulations”, which have aroused the attention and buzz of the industry. What is the relationship between the NFTs mentioned in the “Reminder Letter” and digital collections distributed domestically, and what impact they will have on the development of digital collections has also aroused widespread discussion. There is a link between digital collections and NFTs, but there is an essential difference. The “Reminder Letter” points out that a large number of NFT (Non-Fungible Token, Non-Homogenized Token) products have recently appeared in the market. As an application of blockchain technology, NFTs can easily be linked to illegal activities such as fraud, hype, and money laundering after financialization, causing chain risks. Trading places in Fujian Province are required not to trade NFTs without approval. A digital collection refers to the use of blockchain technology to create a unique digital certificate corresponding to a specific work or work of art to achieve true and trustworthy digital distribution, purchase, collection, and use on the basis of protecting its digital copyright. Liu Tianjiao, director of the Blockchain Copyright Center of the Science and Standards Comprehensive Laboratory of the State Press and Publication Administration, pointed out that there are three differences between domestic digital collections and foreign NFTs. First, foreign NFTs are based on a public chain. The public chain is open to everyone, and anyone can participate, read data, send transactions, etc. “The core characteristic of foreign NFTs is that they are unmanaged, uncontrolled, and no one or agency supervises them. However, domestic digital collections are based on alliance chains. Many blockchains and alliance chains are infrastructure built by the government, and our country manages the alliance chain.” Second, in terms of the content of distributed collections, foreign NFTs have not gone through copyright review, and domestically regulated digital collections must go through content review before they can be published online. “We position digital collections as digital publications, that is, they have to be published and distributed before they can be distributed and sold.” Also, foreign NFTs tokenize a work or something virtual, and do not convey the value of real digital cultural and creative works or digital copyright works. “Domestic digital collections circulate cultural elements through the use of blockchain technology that is traceable, immutable, open and transparent, so that the value of digital cultural products and copyrighted works is anchored and conveyed the value of our digital cultural elements.” Liu Tianjiao said. Where is the red line in the industry where chaos is common? Currently, chaos such as vicious hype and false publicity on digital collection platforms is common. Recently, there are also rumors that the platform has gone out of business. Although there are settlements and rumors refuted, it also fully explains the current state of chaos in the digital collection industry. In response, many experts also mentioned the red line that should be paid attention to when issuing digital collections. Liu Tianjiao believes, first, that digital collections cannot be used as financialized products. Currently, the “Reminder Letter” issued by Fujian Province clearly does not allow exchanges to act as a secondary market, because the secondary market is for securitization or financial products; second, digital collections are digital cultural products, and digital cultural products cannot be infringed; third, the distribution of digital products requires content review. “The digital collection includes original works in various fields such as art, music, animation, games, film and television. These works must be published before they can be sold in our country; otherwise, they are illegal publications. At the same time, publication requires content review, and the content must conform to the country's core values.” Fourth, value evaluation. Currently, there are three pricing systems in China: national pricing, market-based pricing, and pricing based on entities or production units. The value of digital collections must be priced in accordance with normal industry fairness. Regarding user purchases, Xiao Sa, a senior partner at Beijing Dacheng Law Firm, suggested that they should try to buy digital collections with high artistic value and complete distribution platform qualifications to protect their consumer rights. At the same time, users should also take the initiative to stay away from improper hype and work together for the healthy development of the digital collection industry. According to a report by Rule of Law Daily, a number of industry experts interviewed by reporters suggested that digital collections, as an innovative application of blockchain technology, have positive significance in spreading outstanding culture, but due to the short time they have appeared in China, certification and supervision standards have not yet been established, causing chaos. In order to prevent the digital collection market from continuing to “run wild” with problems, healthy supervision and industry regulations should be established in a timely manner so that technology can better serve art. Digital collections empower the development of the industry to help increase brand value This year, domestic digital collection platforms have grown rapidly. According to incomplete statistics, there are more than 400 digital collection platforms, large and small. The digital collections distributed cover intangible heritage culture, sports, film and television, aerospace, and famous arts...

1528d agody zhang#NFTs #Digital collections