ICOs with blockchain masks have finally taken off their camouflage masks under supervision. On September 7, there was a news report that NEO, the largest ICO in China, said on October 17 that after China’s central bank declared ICO financing illegal. All bitcoins invested by users will be refunded.
After the bubble dissipated, we paid more attention to the subject under the bubble - blockchain technology and promotion.
>>>> ICO is different from Bitcoin
The issuance of ICO is fundamentally different from the issuance of Bitcoin. ICO issuance has a strong centralization attribute, and the scale of fundraising depends entirely on the originating platform, and an important attribute of Bitcoin issuance is decentralization. It cannot be concluded that Bitcoin and blockchain technology are unreliable just because ICO projects are unreliable. In fact, both crypto tokens and the technology itself are neutral.
The issuance of ICO is to put the bitcoin and ether in the hands of investors into the project, and obtain the equivalent "token" of the new project. The issuance of bitcoin does not rely on the issuance of a specific currency institution but is realized according to a specific algorithm. Furthermore, Bitcoin has always been developed under regulatory guidance, and ICOs are illegal fundraising.
Bitcoin is the most important and most famous blockchain technology carrier and application. Bitcoin is a globalized blockchain asset, which should not be banned but should be further regulated.
>>>> Strict supervision escorts the blockchain
The attitude of the relevant departments towards the blockchain is support and encouragement. For the huge technological innovation of the blockchain, we must be wary of those projects that use the guise of the blockchain but have nothing. value and meaning.
Blockchain application ecosystem
Blockchain application ecosystem
According to the World Economic Forum, by 2027, blockchain will contribute about 10% of global GDP. Sheng Songcheng also posted: "China should still encourage blockchain technology, which has been widely recognized as a very important innovative technology by world institutions, governments, enterprises, experts, and practitioners."
Blockchain has the characteristics of decentralization, immutability, unique trustworthiness and anonymity, and has many applications in finance, anti-counterfeiting traceability, copyright protection, etc. Only by applying blockchain technology in the right fields can it play its due value. The diversification of application scenarios is the biggest driving force for the rapid development of blockchain technology. The contradiction between market demand and technical obstacles has prompted many technology companies to speed up research. With the rapid development of blockchain in China, it is inevitable that there will be a mix of fish and dragons. Timely intervention in supervision is the care of the blockchain industry and can make the development of the blockchain industry more stable.
