The rise and fall of the global business cycle, the vagaries of the fourth industrial revolution, and the crisis of trust mechanism in the information age have brought great challenges to the world, especially to the global financial system.
Bitcoin and its blockchain technology have become an ideal tool for transition to a global, trust free and open new economy after more than ten years of promotion and consensus.
On October 23, 2019, the U.S. House of representatives in Washington held a hearing on Facebook’s Libra coin. Facebook CEO Zuckerberg said that Facebook was not trying to help create a new sovereign currency. Libra was first and foremost a global payment system. Moreover, the US dollar accounts for the largest proportion of Libra reserves, which will expand the financial leadership of the United States, as well as democratic values and supervision around the world. If the United States does not innovate, its financial leadership will not be guaranteed. Moreover, China has a part of infrastructure that is much more advanced than the United States. The United States must build a more modern payment infrastructure on the existing basis Give.
Huang Lianjin, former Huawei’s famous blockchain expert, DBA founder and CEO, mentioned that blockchain can rebuild business relations and become the world’s third largest economy. There is no doubt about this trend. At present, major countries in the world are speeding up the development of layout blockchain technology.
We can see that money has been the financial cornerstone of national development since ancient times, and crypto digital currency (blockchain currency) has become the only way to upgrade the global currency. However, the concept of being ahead of the times has made this diamond wait for more than ten years.
In the context of the global financial crisis spreading in 2008, Nakamoto released a white paper on bitcoin (a peer-to-peer e-cash system). Its spiritual core comes from ecash and B-money, while the core technologies such as workload proof mechanism come from Adam Barker and Hal Finney.
According to Nakamoto’s idea, the open source software is designed and released and the P2P network on it is constructed. Bitcoin is a kind of P2P virtual cryptocurrency. Point to point transmission means a decentralized payment system.
The initial price of bitcoin was US $0.0025. Since its first halving in 2012, the huge price increase has attracted the attention of thousands of investors and institutions around the world. After a decade of development, bitcoin prices peaked at $20000 in December 2017, up 8 million times.
Bitcoin, the king of coins, has a maximum price of $20000
After decades of development and improvement, the crypto digital currency technology has been quite mature. Now we see that the mainstream digital currency such as bitcoin has been tested by the global market day by day. Only with the intervention of a large number of investors and the long-term attention of institutions can we reach the present height.
History is always repeating, but people are good at forgetting.
PI network has more than 6 million miners worldwide
On March 14, 2019, on the global π (PI in Chinese, PI in English), Nicholas, a professor of blockchain at Stanford University, and a professional team led by two Ph.D. doctors in computer anthropology and political and business science, released PI network to the world, and bitcoin on mobile phones was born.
PI’s team agrees with Nakamoto. At present, the global economy does not serve all mankind, and 90% of the people only own 15% of their wealth. The emergence of PI aims to provide services for billions of people around the world. The PI created by the three founders is not just a blockchain product. They expect pi to establish the most inclusive point-to-point market in the world. The construction of PI economic model is intuitive, transparent and fair. Meanwhile, PI’s blocks are also distributed The chain also solves the problem of trust. It will no longer rely on the third-party centralized platform of suppliers. The blockchain DAPP will open up the trust mechanism of the world economy.
In a short period of one year, PI has accumulated more than 6 million active miner users around the world, and has become the fastest growing traffic black horse of blockchain industry in history. The intervention of this super flow brings new ideas and imagination to the development and direction of global digital currency.
In a live broadcast on Weibo live broadcast platform on the evening of July 11, a large number of fans and blockchain enthusiasts swarmed into the most influential Youlong saying PI studio in the Chinese area of PI network to watch the Youlong blockchain sermon talk show. The live broadcast eventually created a hot spot of 17 million and created the live traffic of top blockchain celebrities.
With the global economic downturn during the epidemic period, the central government issued policies to encourage live delivery and new marketing models to stimulate domestic demand. You long put forward a new concept of live broadcast with goods of blockchain currency in that night’s live broadcast. This kind of blockchain industry’s original view not only responds to the needs of national policies to promote domestic demand, but also speeds up the popularization of the cognition and consensus of blockchain currency, helping and promoting a series of issues such as how the blockchain industry realizes the point-to-point payment process and the user’s recognition of using digital currency payment And the subsequent improvement. If the trial is successful, it will become a classic case in the blockchain academic field of global universities.
Economic development is inseparable from technological innovation. As the underlying building, constant attention and enthusiasm are needed to bring about a qualitative leap. The future has come and the general trend is coming. This article is for all fans and enthusiasts who dare to believe and are still moving forward in the blockchain industry. Let’s change the world with consensus.
Author: Huang Jianjun
He is a believer in blockchain and CEO of domestic well-known Kazini office furniture enterprise.