OKCoin International Business Director Jack: Bitcoin and blockchain technology have broad application prospects

Last Friday, Jack Liu, international business director of bitcoin trading platform OKCoin, attended the Rise Summit in Hong Kong. He discussed the past, future prospects and prospects of bitcoin with the guests.

The Rise Summit is the first time that Web Summit, the largest technology summit in Europe, has come to Asia. In just four years, Web Summit has attracted more than 20,000 participants from all over the world. Leaders of emerging companies and industry giants such as Uber, AirB&B, Google, and IBM discussed how their companies can change people's lifestyles at the summit. Financial media such as The Wall Street Journal, Financial Times, Bloomberg, and Reuters also participated in the summit's discussions.

Bitcoin and blockchain technology are the key topics of this summit. Bitcoin means different things to different people. It is a speculative tool for traders. In the future, as Bitcoin gradually becomes mainstream, its blockchain technology will be widely used in people's lives.

Jack, international business director of OKCoin, said that the starting point of Bitcoin and blockchain technology applications is汇款交易, and many products use this fast and low-cost service:

"If you go to a bank to transfer money, it will take three days, and there may be handling fees and limits. If you use Bitcoin as the backend, theoretically you can send a small amount of RMB or USD to the other party in the currency they need. Bitcoin can act as an intermediary. You don't necessarily have to have a tangible currency. Technology can make the connection in the air behind the scenes."

Jack said that blockchain technology is now being applied to more and more financial institutions, and the government will also use this technology in the management of its own institutions in the future. It is precisely because of the value of Bitcoin and blockchain technology that the government's regulatory system will gradually form and improve. "If Bitcoin is useful and people accept it, then the government will introduce relevant laws and regulatory policies," Jack said.

In the payment field, all things related to the Internet in the future can be微支付with Bitcoin, such as removing advertisements from video streams or even traditional payment behaviors such as paying electricity bills.

OKCoin, where Jack works, is currently the leading professional platform in China in terms of Bitcoin trading volume. Even though the Bitcoin market was not hot in 2015, the platform's trading volume still maintained considerable growth. Due to the Greek financial crisis some time ago, many people joined the Bitcoin army.

Jack pointed out that what Bitcoin needs most now is relevant education and training so that more people can understand the application of Bitcoin and blockchain technology.

The article reflects the author’s independent views and does not represent Babbitt’s position.