Is the blockchain boom over or has it not really started?

In the beginning of 2018, the concept of blockchain has become popular rapidly, and various products such as blockchain mobile phones and blockchain games have been introduced. It seems that as long as the addition of "blockchain" is added, it will become a pig in the air. There is even a "blockchain encrypted phantom coin" on the Internet, ridiculing this "people's madness". The reason why blockchain has become a controversial concept is inseparable from the skyrocketing and plummeting of cryptocurrencies such as Bitcoin. Many people took this to get rich overnight, which aroused concerns about speculation by regulators.

As more and more people call for vigilance, this blockchain frenzy has gradually returned to rationality. Now everyone can accept that speculation is not the same concept as blockchain technology. After returning to rationality, has the blockchain turmoil ended? Or did it never actually start?

Under the upsurge of blockchain, Jack Ma responded, “Bitcoin may be a bubble, and blockchain is an effective tool to open a gold mine of financial technology.” Large companies such as IBM, Intel, Huawei, Lenovo and others have quickly invested in blockchain. the study. China has ranked first in the world in terms of the number and growth rate of blockchain patents.

Steve Hoffamn, an investor in Silicon Valley and founder of Founders Space, told the World Wide Web reporter that the current opportunities and challenges of blockchain lies in whether it can find application scenarios that cut into the pain point and bring a real outbreak. As Jack Ma said: "The blockchain must be made into something that creates value for the society before it can become wealth."

Hoffman said that he is still observing whether the blockchain can provide users with "value that cannot be given by other things"? Blockchain entrepreneurs are still experimenting hard.

This collective experiment of the blockchain has become a force. But I didn't expect it to bear fruit yet, and the concept of blockchain has skyrocketed.

According to the "2018 China Blockchain Industry Application Report", the financing for the whole year of 2017 more than doubled in 16 years, and the financing in the first quarter of 2018 was close to half of the whole year of 2017. At the same time, quasi-unicorn companies began to appear, such as Bubi The A round of financing of underlying blockchain companies such as blockchain and matrix yuan exceeded 100 million yuan in a single round.

Yu Xiaolei, the founder of Blockchain Workshop, told the Global Network reporter that blockchain will not change all industries, but intermediary industries are most likely to be replaced and subverted. For example, industries such as payment platforms for knowledge such as "Get" or housing intermediaries may be changed by blockchain technology in the future. Because of the decentralization of blockchain technology, audiences can pay directly to knowledge providers, no longer need to go through platform agents.

Some media pointed out that when blockchain technology is applied to all aspects of digital content copyright, it can create a relatively fair trading environment and become a fertile soil for content industries such as art and culture. Because content practitioners will get the economic benefits of applications, the copyright war between commercial giants can be partially alleviated, and the entire digital content industry will be reactivated.

For example, there are entrepreneurs who are already building a "two-dimensional creation community". Original works can directly reach readers through blockchain technology, and fans can directly pay authors without going through a third-party platform. These decentralized blockchain application scenarios also include the "outdoor travel platform"-using the trust mechanism of the blockchain, so that a group of friends can safely organize outdoor activities such as skiing, mountaineering, and fishing. And, cross-platform point redemption application: According to the point price list set by the blockchain platform, users can exchange each other's points—use my hotel points to redeem your airline miles, and his restaurant points to redeem you Movie credits.

In foreign countries, some companies use this technology to meet seemingly more killer needs: trace the source of food and record all the food delivery processes to ensure that the food is not contaminated and to ensure food safety; as well as to identify counterfeit banknotes, Related applications to ensure the security of online and offline transactions.

In addition, the industry is still on the sidelines for payment security applications that are quite promising. Because the banking industry has always been conservative, it is seldom willing to adopt new technologies. At present, these startups are also observing whether banks are willing to adopt and purchase their solutions.

In other words, the main reason why the market continues to wait and see blockchain technology is that blockchain technology has not yet created any large enterprises. In addition to cryptocurrency, blockchain has not shown great success in other application scenarios.

The value of returning to the blockchain itself lies in the characteristics of the decentralized database, which enables people to conduct conversations safely. All data will be stored in multiple databases at the same time. Since it is difficult for one person to control multiple databases at the same time, the probability of being hacked is quite small.

"Can this technology solve other problems?" Hoffman asked.

When the centralized databases of Tencent and Alibaba have provided sufficient and convenient storage methods, can the decentralized storage methods of blockchain bring great value beyond the past? And what other people can't do? The above is exactly why many people are cautious about blockchain projects.

In early 2018, under the banner of blockchain, how many people shouted with excitement: "After the Internet, blockchain will change human civilization." As the craze faded, people clarified the essence of blockchain: it is another A technology.

Hoffman pointed out that some technologies, such as smart phones, the Internet, and computers, have great influence. These inventions have changed the lives of human beings. You can say that they have changed human civilization, but the blockchain is not like that. The blockchain needs to rely on the network to exist.

This does not mean that the blockchain will not succeed. Only after deliberation, the blockchain finds its true position and continues to explore in the right direction. For some investors, they have not given up on the blockchain. They wait and see and evaluate whether it will bring about a different change.

When the blockchain frenzy returns to rationality, has the blockchain turmoil come to an end? Or maybe, the blockchain, which has been really seen through, finally returned to its proper track and became an "effective tool for opening up the gold mine of financial technology" in Jack Ma's mouth. This collective experiment continues, and we wait to see which batch of dark horses will truly win. If this is the case, the blockchain hasn’t really started yet?

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