Securities daily: embrace blockchain from the prevention of virtual currency "routine" start

Embracing blockchain starts with preventing the "tricks" of virtual currency

Source: securities daily

In the block chain technology development, the world's major countries are speeding up the layout, "China technology" is also full participation in the race. It can be said that China's regulatory authorities and scientific and technological innovation enterprises are paying more and more attention to the development of "hard technology". However, the author notes that virtual currency, as one of the "by-products" of blockchain technology, tries to confuse the concept by equating blockchain with virtual currency. The author thinks, embrace block chain, exactly need from guard against fictitious currency "routine" begin.

First of all, accelerating the development of blockchain technology has become the "top-level design" in China, and the focus of "top-level design" is to improve the original innovation ability, and strive to make China walk in the forefront of the theory in the emerging field of blockchain, occupy the innovation commanding heights and obtain new industrial advantages.

Specific view, put forward "top-level design", "block chain technology integration application in innovation and new technology industry plays an important role in the change. We want to block chain as an important breakthrough of the core technology independent innovation, main attack direction, increase investment, and strive to overcome a number of key core technology, accelerate the block chain technology and industry innovation and development".

However, policy support for the application of blockchain technology does not include the issue of virtual currency. The author notes that there is nothing in the "top-level design" that relates to virtual currencies.

Secondly, with the promotion of blockchain technology, the hype of virtual currency shows signs of rising. Some enterprises organize virtual currency transactions in the name of "blockchain innovation". To this, a number of regulatory departments in the linkage of prevention, but also in the initiative to carry out market education.

On November 22, the Shanghai headquarters of the people's bank of China (pboc) released a message saying that in recent years, the speculation related to virtual currencies (such as ICO, IFO, IEO, IMO and STO, etc.) has been revamping, speculation has been rampant, prices have soared and plummeted, and risks have accumulated rapidly. Related finance main body through illegal sale, circulation of tokens, to raise funds from the investors or virtual currency, COINS, etheric fang essentially belongs to the illegal public financing activities without approval, suspected of illegal sale of promissory notes, illegal securities issuance and illegal financing, financial fraud, pyramid schemes and other illegal and criminal, seriously disrupt the economic and financial order.

As a matter of fact, as early as September 4, 2017, the central bank and seven other ministries and commissions issued the "notice on preventing the financing risks of token issuance" to clean up ICO and virtual currency trading venues, causing a sharp decline in the trading scale of virtual currency in China. Since then, in view of the behavior of setting up servers abroad to provide virtual currency trading services to domestic residents, supervision has been further strengthened, and the settlement end has been continuously cleaned up and rectified.

However, in the recent stage, the relevant financing subjects made use of the asymmetric information disclosure of innovative technologies, and regarded the state's encouragement of block chain technology development, which was false and equivalent to allowing or encouraging the issuance of virtual currency, and the related violations increased.

In this regard, a number of regulatory departments jointly reiterated that the illegal financial activities adhere to the principle of "beat the outspread", continue to maintain the high pressure of supervision, from the virtual currency price trend in recent days, the market has received a regulatory "stick".

Third, the Internet industry has evolved from the view of "technology is innocent" to the view of "science and technology is good" over the past 20 years, which has a guiding significance for the development direction of block chain technology.

Over the past two decades, Internet technology innovation has spawned countless wealth myths, spawned a variety of new business models, and spawned unicorns such as BAT and TMD. But the Internet industry has also paid a heavy price for its lack of a "technology for good" mentality: tech-savvy video platforms with out-of-control content and imprisoned founders; Its goodwill and valuation have fallen due to security incidents in its Internet traffic operations...

All this is a warning to technology-oriented industries and enterprises that they need to find a balance between the wealth effect of technology and social value, and all the criteria must be within the dimension of legal compliance.

In fact, legal and compliant development and application of block chain technology is the cornerstone and bottom line of industry development. The author hopes that practitioners, enterprises and technology users can say no to illegal public financing that harms the credibility of blockchain technology in the name of defending the development of blockchain technology. Say no to all possible violations in the future evolution of technological innovation.

Original address:http://www.zqrb.cn/toufu/jianguandongtai/2019-11-25/A1574616363207.html

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