Blockchain cannot successfully transform the payment industry

The most important consensus is "money"

All business systems in the world are for making money. Money is a measure of value. This is the most important consensus in this civilization system. Even some non-commercial systems are for making money to some extent. As long as you are willing to trace the source logically, all business systems are for making money. Mining and coinage only solve the problem of money issuance, and solve the problem that money issuance must be tied to productivity. The nature of the currency issued by a certain country determines that country B cannot use the currency of country A, because countries AB are equal competitors rather than subordinates, and others can issue more coins at will to create competitive advantages. Blockchain mining and coinage do not solve the payment problem, and solving the payment problem is not the goal of blockchain coinage.

Two coin-making forces are observed

Strength means "energy", "force", "ability" and "quantity", "measurement"

1. Traditional coinage power:

The current legal currency system is PoW (judiciary, administration, military, law enforcement, etc. are traditional PoW forces).

2. Emerging coin-making power:

PoW blockchain mining and coinage, mining is an emerging PoW power, only power can provide credit, the reason why PoW mining is successful is that it does not change its essence but only changes the form of proving power.

Mining can consume the means of production and human capacity, which is the real value. Consumption capacity proves production capacity. The more it consumes, the higher the productivity and the more it produces. Energy consumption is the most important value of blockchain coinage, because only energy consumption can successfully build consensus. Without energy consumption, it is impossible to successfully build consensus and get credit. Only PoW can successfully transform the most important consensus - the "money" consensus. Only consumption can improve productivity. Before mining consumes half of the total productivity and opens a new era of civilization, the greatest value of mining is to increase consumption. The more consumption, the better. Anyway, if there is no production, there is no consumption. Anyway, consumption at least proves production.

If we had been wasting half of the mask production capacity, if we could be full with one steamed bun but we had been producing two steamed buns and destroying one, we would be able to deal with today's epidemic more calmly.

Neither traditional nor emerging fake coin-making power, such as POS:

POS is a kind of air coin because it does not prove productivity. If compared with traditional systems, POS not only does not prove productivity but also reduces efficiency. The reason why other consensus forms such as PoS fail is that they directly change the essence. Trying to create credit out of thin air is like trying to create a perpetual motion machine and trying to change the laws of physics. POS and other systems that do not produce energy and do not consume energy are real (pyramid) (marketing).

The way society operates and its surface driving force: “ making money ”

All business systems in the world are for making money. Money is the measure of value. This is the most important consensus in this civilization system. Even some non-business systems are for making money to some extent. As long as you are willing to trace the source logically, all business systems are for making money. Since the business system is for making money, efficiency is of course the first priority. How to improve the efficiency of making money? This determines that business systems other than the coinage system cannot use blockchain technology to build their own business systems because blockchain is inefficient and reduces the efficiency of making money for business systems.

BTC and ETH have made everyone make money: research and development, design, manufacturing, production, transportation, distribution, second-hand transactions, factory construction, power generation, operation and maintenance... Every link is real and everyone makes money. Counterexample, for example, hard disk coins consume too little power and are not considered PoW. The advocates of hard disk coins thought it was an advantage at the beginning, but it turned out that mining farms, power plants, mining pools, miners, and almost everyone did not welcome it, which led to no money for everyone, proving that hard disk mining is not a good agreement. If you want to ask where everyone makes money, then where does the money come from? Make money from digital currency Manulife. Digital currency has an upward trend and has a trend of replacing existing legal currency to become a global legal currency. The standard for judging whether it has become a global currency is whether the market value of digital currency exceeds the market value of any of the major countries A or B, or use the market value of gold to judge: digital currency still needs to grow 40 times to surpass gold.

Blockchain cannot successfully transform the payment industry

Although all things and activities in the world are related, the space of the world is huge and the speed of operation is limited, so the activities in it are decentralized and parallel. The activities of people on the road in the next city will not affect your activities. The flowers blooming in the community garden have nothing to do with the lights on in the bedroom. The world is parallel and decentralized, and the computer systems that serve the activities in the world are of course decentralized and parallel. The blockchain is a timing system with a strict sequence (which determines that it must occur in a small space where only one problem unit can pass through at a time). The blockchain timing system is only used to build consensus. The only most important consensus in the social operation method is "money" to measure value. Money measures everything. All other business systems only need to establish the conversion with money. The transformation of business systems outside the coinage system based on blockchain technology reduces the efficiency of making money, which makes it impossible to succeed. Other systems outside the non-coinage system do not need to transform the logic in their own field, because the existing logic is better than blockchain. Using blockchain technology is a step backward. Blockchain creates coins but is not responsible for payment. Mining and coinage solve the problem of money issuance and the problem that money issuance must be bound to productivity.