Internet of Value
Now the Internet is the Internet of Information, and we call blockchain the Internet of Value. What's the difference? Let's recall, before the Internet became widespread. People deliver information through television, newspapers, and traditional media. This is a relatively centralized way, and everyone sees similar information. And thanks to the advent of the Internet, the original way of transmitting information has completely changed. Everyone can be a node on the Internet, distributing information outward. So later this is also called the era of self-media. But in times like these, because the spread of information does not cost anything, this is both the strength of the Internet and its weakness. Tampering with data is very easy. So everyone sees that rumors are flying all over the world now.
When we enter the Internet of Value, blockchain is such an underlying technology, on the one hand, it ensures that like the Internet, high-speed spread around the world, on the other hand, it eliminates the problem of data tampering, so blockchain will become the basis of the Internet of Value.
So if we call blockchain the foundation of the Internet of Value, what kind of field can such an Internet of Value be applied to?
The case of a factoring company
Let me talk about a case of a commercial factoring company. They are doing supply chain financing, to put it bluntly, it is to provide loans to enterprises in the supply chain, because these enterprises generally have an account period, and when they need to use money in a hurry, commercial factoring companies will lend money to these enterprises. Get the creditor's right, and then go to the payer to collect the money, but in order to reduce the risk, the commercial factoring company will generally find a core enterprise in the chain, and then rely on the data of this core enterprise to lend to its upstream and downstream and related enterprises. This data may be relevant to the other party's ERP system. One of the pain points now is that factoring companies themselves will worry about data fraud in core enterprises. As a result, the money released cannot be recovered. Therefore, there is a need for information data that cannot be tampered with. The other side. It also hopes to be able to make a platform to bring together various factoring companies and core enterprises and suppliers with financing needs. Pull into such an internet of value. The data in the entire financing process is real and cannot be tampered with, and these data are synchronized in real time, so it also makes lending more real-time. It not only ensures the authenticity of information, but also ensures the efficient flow of value, and finally forms the Internet of value.
ICO
The fact that blockchain is the Internet of Value has actually played a full role in ICO.
Most ICOs will tell you such a story. We are now a group of good students with excellent character and learning, we have outstanding technical ability, we now have a great ambition to carry out, but lack money. We also know that your money can't just be given to us. So we issue a coin. In the future, after we develop our ambitions, we can increase the price of the coin. To repay all those who sponsored us early.
Such stories have been told many times when they were crowdfunders. Only this time it was repackaged in the way of issuing coins. So these risks are the same as the risks of crowdfunding, if this project can be done, then no problem, the whole thing will be smooth, but if this project. In particular, the project leader used the advantage of information asymmetry to deceive the investors, so that the project was not completed. Then he just used the name of blockchain.
It's not really the Internet of Value. After all, an important core of the Internet of Value is the need to put all value into this blockchain network.