Yuan Yuming interview: these businesses do not need block chains.

2018-07-27

Source: Silicon Valley spy (WeChat: guigudiyixian)

Yuan Yuming: the assistant director of the original Xingye Securities Institute and the chief analyst in the computer industry; once on the list of the best new wealth analysts on the list for 5 years, a number of deep and influential reports in the industry have been written.

Yuan Yuming interview: these businesses do not need block chains.

In the early March, Yuan Yuming officially joined the fire coin China as the dean of the block chain research institute, responsible for the research and regulation system of the block chain industry.

The Silicon Valley spy made an exclusive interview with President yuan to explain his basic research on the chain chain industry and the macro business system he proposed.

The most important principle is that there is no God’s perspective, only continuous trial and error iteration.

Agent: before you were the opinion leader of the securities analysis industry, how did you join the block chain industry in the reclamation stage?

In fact, as the president of the fire chain block Research Institute, more than a month, but a lot of things happened. The whole rhythm of this circle is very fast, and the atmosphere is in full swing.

There is a very special feeling: I have met many other industries, some of them seem to be very bright, but the people inside are very famous. The block chain is the opposite. I see many people in the industry have more enthusiasm than outsiders. Many people are very ambitious and want to do something meaningful.

Now there is a popular term called “Buddha system”, and the people in the block chain industry are exactly the opposite of the “Buddha system”. Because the overall situation is uncertain, everyone feels that time is pressing and time is running. Every day, we can see many district chain professionals sharing inspiring conclusions. However, at the early stage of the industry, everything is not conclusive; the existing conclusions may be overturned in the future.

Our institute has a very fast pace and a lot of background patterns, such as university associate professors, multiple block chain projects, Ph. D., continuous entrepreneurs, data analysts and so on.

One of the most important principles of research block chain is that there is no ultimate form, no God perspective, and only continuous trial and error iteration.

The essence of the block chain is to win together

Unlike steam engines, electricity, computers, artificial intelligence in the future and quantum computation, block chains are not a productivity revolution. Similar to him is printing or papermaking, shareholding, and the Internet. There may not be a particularly big breakthrough in technology, but it can liberate productivity.

Back to the Great Voyage of sixteenth Century, in order to sail adventure, we must make up the money to build a large ship, and then divide the profit by the proportion of money, so that the embryonic form of the shareholding system is born.

However, the shareholding system has fallen behind today. The reason is that it compel enterprises to take profits as the main purpose, and the market regards profits as a benchmark for evaluating the success or failure of the company, resulting in deformity. So we see that large military enterprises that make important contributions to the country are not as valuable as three bottles of wine (Moutai Wuliangye plus the Yanghe River); many Internet Co have to make a lot of money to make money from users in order to profit, and eventually become what they originally dislike (such as Facebook); A shares have some listed companies. A year of profit, can not afford to buy a house of 10 square meters in Shanghai, but, as long as we sell 1% of the shares, you can immediately buy a whole set of villas… And so on to be called the magic realism.

In fact, modern enterprises have become a very complicated system that can affect every aspect of the society. A good mechanism should be able to mobilize all sides and achieve win-win results.

And through the block chain, through the authentication (token), we can design a win-win mechanism, all employees, users, suppliers, advertisers and so on, all bound to a ship, can greatly stimulate the vitality of the enterprise. The following is an example.

We know that if the calculation power of a single ore pool exceeds 51%, we can control the blocks and do whatever we want. But since the birth of bitcoin for so many years, why hasn’t this happened? Why did no one choose to manipulate bitcoin?

Because once the pool calculation is close to even more than 51%, the masses begin to worry, the price of the coin will fall, the miners are dropping out of the mineral pool, and at last the mineral pool itself has taken the initiative to limit the growth of the calculation.

Why is everyone so cohesive because the miners and mines have lofty feelings and contrast with the love of special coins?

Maybe there are some, but most of the miners are ordinary people. The main reason is that bitcoin designed is a win-win mechanism – let everyone in a ship.

Agent: does the block chain project under the win win mechanism do not have to pursue profit?

In the stock system, it is necessary to pursue profit. In the block chain model, the end will be an ecosystem – the generation, acquisition, and use of token and a circular system that can run.

The purpose of a system is not necessarily the profit. For example, it is not profitable, but it has made an ecosystem that generates, obtains and uses Ethernet coins and circulates circulated. As a result, the price of ETH has been greatly increased, and all the people holding the ether currency can benefit from it.

Note: we have recently learned that the Mint has launched the mining pool business, connecting the platform with the trading platform and becoming the first digital trading platform in the world to integrate the mining and trading of digital assets.

Yuan Yuming interview: these businesses do not need block chains.

This is done in order to establish a complete ecosystem from mining to trading. When the miners gain profits from mining, they must cash in through the trading platform. The characteristics of the mining and trading of the fire money pool determine that most miners will still trade on the platform after they get the proceeds. As a result, the number of users, activity and mobility of the platform will be further improved. The value of the issuance of fire coins will also be improved. We can continue to observe whether this is a win-win ecosystem.

Yuan Yuming interview: these businesses do not need block chains.

The learning effect of industry

People in the block chain industry are very nervous and diligent, because the industry has the learning effect, and the evolution of the block chain may be much faster than the Internet.

Spy: what is the learning effect?

In fact, it is to learn from history. Let me give an example. There was one thing I didn’t understand: Why did Zuckerberg of Facebook buy WhatsApp for 19 billion dollars in 2014? WhatsApp revenue was only $10 million 200 thousand in 2013, and the premium was too much.

In fact, later I want to understand that this is Zuckerberg’s understanding of history. YAHOO had two opportunities to buy Google, the first time Google offered to buy, then the name of the world’s web page ranking algorithm, open price of $1 million, the result was rejected by YAHOO. As we all know, YAHOO search was completely defeated by Google. In view of historical experience, Zuckerberg understood that when a competitor appears, it is necessary to wipe it out immediately or to collect it, and the price is not so important as it is.

Although each period of history will not be repeated simply, it does have a cyclical nature, such as the rise of artificial intelligence from the 50s and 60s to the present – the rise and fall – the cycle development. Block chain from the Internet, this industry, can be summed up from the history of the Internet to some applicable laws, apply to the block chain situation to think and decision.

Secret note: the encrypt currency exchange may draw lessons from the “history” of the Uber development and sharing of the single car industry, and realize that “high city and grain” is the necessary way of success. As an example, in March 24th, the United States has just announced that it has completed the registration of MSB licenses under the guidance of US regulators, which can be traded in most of the states in the United States. In less than a week, it continues to be released on 30. The official entry into the Korean market on the 30 day will provide Korean customers with a compliant Korean won digital asset trading service.

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