The 2016 Tin Valley New Year Exchange Reception and Blockchain Technology Application Information Conference was held in Shanghai yesterday

On January 17, the "Xigu 2016 New Year Exchange Reception and Blockchain Technology Application Information Conference" hosted by Xigu (Shanghai) Digital Technology Co., Ltd. was held at 14:00 on the afternoon of the same day in the Peony Hall on the third floor of the Shanghai Dorsett Hotel. The conference invited well-known digital currency figures such as Sha Qian, Chu Xia Hu, and Da Hongfei to give keynote speeches, and some digital currency figures and investor representatives attended.

During the meeting , Xia Xuemin (Banduniao) publicly announced Xigu’s plan to build a digital asset service platform. He emphasized that Xigu will provide comprehensive services to the community and society in the process of asset digitization based on blockchain technology and concepts.

During the event, Julian, Chuxiahu and Mr. Shaqian spoke one after another.

The following is a brief introduction to the guest speakers:

Julian gave a speech on the development path of Bitcoin and blockchain. He first introduced how he entered the cryptocurrency circle, and through the process of participating in and organizing Bitcoin gatherings, he pointed out the characteristics of Bitcoin gatherings and the timeline of the evolution of the topics discussed at the meetings, and came to the following important conclusions:

1. 80% of the participants are old members and 20% are new members;

2. An average of 10 to 20 people, the largest is 38;

3. Old members are familiar with each other, but new members are not so familiar;

4. Foreigners account for 60% and domestic residents account for 40%;

5. The level of the participants is relatively high, and most of the participants are senior executives and CEOs;

6. The first half of the year mainly discussed Bitcoin, and the second half of the year discussed blockchain more.

Julian finally explained the connection and difference between Bitcoin and blockchain: there would be no blockchain without Bitcoin. Blockchain is the underlying technology of Bitcoin, and Bitcoin is an application of blockchain. In addition to Bitcoin, blockchain has more functions and wider applications.

Chu Xia Hu gave a speech titled "Digitalization of Assets Driven by Blockchain Technology". He started with what blockchain is and pointed out that blockchain is an underlying technology behind Bitcoin. He said that blockchain is a very new thing that has become popular in China. It became popular after April 2015. In April 2015, he co-wrote an article with Professor Han Feng on how to use Bitcoin technology to protect intellectual property rights, which was published in the Financial Review of Tsinghua University, but the word blockchain was not used at that time. Many large financial institutions have set their sights on the value of Bitcoin technology's decentralization, shared ledgers, and non-tamperability, but they don't like Bitcoin's currency, so they used the name blockchain. Chu Xia Hu believes that blockchain and digital currency are a whole. The broad definition of blockchain should include digital assets, and the currency of blockchain should not be stripped away.

Sha Qian agreed with Chu Xiahu's idea and specifically pointed out that this concept belongs to the standardization of non-standard assets. Sha Qian mainly introduced the design concept of Ruitai Coin at the meeting and elaborated on the significance of Ruitai Coin's innovative practice. He said that the design architecture of Ruitai Coin has the following characteristics:

    The physical asset package is injected into the basic value of Ruitai Coin in the form of mortgage. For the currency, this is equivalent to establishing a value standard based on physical assets for the currency, which is closer to the traditional "private currency" structure of currency. In addition, except for the POW mechanism, the technical setting of Ruitai Coin itself is not much different from Bitcoin. Sha Qian believes that the purpose of setting up the POW mechanism is mainly to form an unchangeable credit content in the supply quantity of the currency, and the value injection of Ruitai Coin and the initial quantity of no more than 28 million have actually finally achieved the purpose of the POW mechanism. Moreover, the Ruitai Coin method has actually provided a value credit method. Sha Qian believes that the most important practical attempt of Ruitai Coin is its TOKEN2 setting. Ruitai Coin sets up TOKEN2, a blockchain dedicated to recording supervision information, including asset dynamic information, corresponding project information, and even business information and financial information about the dynamic status of the mortgage asset package. This blockchain is equivalent to an automatic supervision system, intending to achieve an effective supervision setting on a certain financial architecture.