Directly hit the New York Consensus Conference, the most comprehensive list of hot topics

Compilation: Eight-Dimensional Capital Research Institute

Sources｜Coindesk official website, Odaily, Mars Finance and other public information

Encrypted assets have finally begun to diverge (decouple) from other liquidity-driven risk assets, and gradually become a safe-haven carrier for hedging risks with sovereign countries. If the above is true, then the value of encrypted assets will be immeasurable.

——Founder of Naval Ravikant Angelist

When the annual Coindesk Consensus in New York is underway, the theme of this conference is: business, market and technology. The main topics are: exchange competition strategy, investment buyer's perspective, blockchain games, enterprise alliance chain, decentralized finance, Dapps, security tokens, etc.

Let's take a look at the wonderful remarks of the guests on the second day of the New York Consensus Conference.

Ruan Yubo, founding partner of Eight Dimensional Capital, gave a speech on "The Opportunities of Blockchain in the Next Five Years" at the New York Consensus Conference. He compared blockchain in 2017 to the internet in 1999. It can be seen that the users of blockchain and digital assets are still in the category of Innovators (Innovators), who are 2.5% of the global population, and are entering the stage of Early Adopters (Early Adopters). In 1999, when the ".com" bubble was in the Internet, there were only 250M Internet users (early adopters), and today there are about 4 billion Internet users worldwide.

Ruan Yubo proposed that with the maturity of technical infrastructure, the entry of large institutional funds, the emergence of Bitcoin ETFs, and the adoption of blockchain technology and digital currency by retail and businesses with many users, the blockchain will gradually move forward in the next five years. Into the landing application stage.

Ruan Yubo also pointed out that China's blockchain investment fund is also a force that should not be underestimated, and introduced the investment results of 8 Decimal Capital in the blockchain field, with 40+ investment portfolios in five countries.

In the sub-forum of the next 5 years - the opportunities and challenges of blockchain in China and the United States, the guests conducted a round table discussion on the theme of the comparison of the blockchain industry between China and the United States.

Maggie Wu, founder and CEO of Krypital Group, pointed out that there are currently three main challenges in the development of blockchain: global regulation, the impossible triangle of blockchain, and the lack of large-scale application. However, opportunities and challenges coexist, and the three major opportunities are 1. hoarding coins; 2. Trustless financial services; 3. dapps that are widely used by consumers. She made three predictions for the next five years: 1. The price of Bitcoin will break through $50,000; 2. ETF will be approved; 3. There will be dark horses.

MOAC Fund Chunru Cherie Liu pointed out that China has surpassed the United States in blockchain innovation since 2016. MOAC focuses on and invests in big data trading platforms, Internet of Things, distributed storage and other fields, and strives to make blockchain technology enter the mainstream companies.

GXP Yunpeng Ding proposed that GXP is a valuable Internet of trusted data. There is already a killer dapp application Block City on the public chain, with millions of users.

Block Kingdom & Xinghuo Blockchain CEO Tong Shen believes that the most valuable landing application in the next 5 years is blockchain + games. Blockchain is expected to solve problems such as conflicts between player assets in the game life cycle, and change game distribution and game development. Asset transaction form.

Steven Quirk, executive vice president of online brokerage TD Ameritrade, and Thomas Chippas, CEO of crypto exchange ErisX, discussed retail and institutional investors investing in crypto assets.

TD Ameritrade was one of the first firms approved to offer bitcoin futures contracts to clients and has served more than 11 million clients. Last year, TD Ameritrade invested in crypto exchange ErisX. Some people put forward the slogan "2019 will be the year of the institution", and the CEO Chippas of the exchange ErisX echoed this view, while TD Ameritrade's Quirk said, "For us, half or even two-thirds of the business comes from Pure individual customers, that is to say retail investors.”

Yesterday, Bakkt, an encrypted asset exchange under Intercontinental Exchange ICE, announced that its bitcoin futures product will start testing in July, while TD Ameritrade has previously launched bitcoin futures. Citing the importance of physically delivered bitcoin futures versus cash-settled contracts, Chippas said that for commodity futures, risk management tools already work better, while for crypto assets, there needs to be “time-tested tools.”

The volatility of cryptocurrencies has been criticized by the traditional financial industry, and Quirk also fired back. He called AMZN stock more volatile than Bitcoin last quarter. And digital assets are like the ".com" bubble in the 90s. The results were terrible, but in the end there were FAANG stocks (that is, the five major technology stocks, Facebook, Amazon, Apple, Netflix, Google).

During the keynote speech, NEO founder Da Hongfei announced the details of the $100 million EcoBoost program, which aims to support the development of the NEO ecosystem. According to Da Hongfei, the EcoBoost plan will focus on seed project activation, dApp growth support, infrastructure development, and institutional collaboration. In addition, the fund will be able to invest in projects at different stages of their life cycle, from seed to growth and maturity.

The support provided by the EcoBoost program includes technical training and support, project cooperation, community support, distribution channel advice, event organization and joint marketing activities, etc. Da Hongfei said, “If there is no ecosystem, the blockchain can be said to be useless.”

Da Hongfei also outlined his views on the next generation Internet and the future role of NEO in his speech. He believes that there is currently a paradigm shift underway, known as the "Great Migration" and "a new wave of tech startups", in which we will begin to reduce our reliance on trusted parties and enable users to retain their trust. Data Control and Ownership. With less information collected by the platform, applications will allow users to view data rather than host it internally, and the infrastructure will be more decentralized to prevent single points of failure.

Da Hongfei said that the main mission of NEO is to "provide the best infrastructure for large-scale applications", and he hopes to achieve this goal through NEO 3.0 and the hiring of talents such as John deVadoss and the NGD Seattle team.

Emilie Choi, vice president of corporate and business development at Coinbase, a cryptocurrency exchange, shared Coinbase's strategic investment strategy in a talk titled "Global Chess Game: How Coinbase Plays the Investment Game". She mentioned Coinbase's investment tendency and competitors, and also reflected on the previous wrong acquisition case of Neutrino.

The price of Bitcoin has recently experienced a wave of rapid rise, which has exceeded $8,000, but for Choi, she is obviously more concerned about the innovation and infrastructure construction of the encryption industry. Emillie said, "When we look back at the present in the future, we will say that this is the stage of infrastructure construction in the encryption field." She believes that the media pays too much attention to the price of cryptocurrencies and insufficient coverage of technological innovation.

When asked about Coinbase’s competitors, Choi mentioned that Coinbase covers multiple businesses such as brokerage, exchange, and custody, and has competitors in each field. Binance is the most active competitor on the exchange side, and BitGo and Xapo on the custody side.

Also today, Coinbase officially released an article saying that it has provided USDC trading services supported by US dollars for 85 countries on Coinbase.com and Coinbase Pro services. Coinbase says it provides a stable store of value that can be sent "almost instantly" around the world.

“Unlike other cryptocurrencies, each USDC is backed by $1. Monthly transparency audits show it is 100% backed by USD. For countries like Argentina and Uzbekistan, consumer prices are expected to increase by 10-20% in 2020. Stablecoins like USDC can provide a hedge against inflation.”

Exchanges are embracing different new models to acquire users: some choose to obtain licenses in various countries to provide more compliant services, some start to provide one-stop services for token issuance and trading, and some issue their own platform currency to To motivate users, some explore the IEO model. In the round table, guests from OKCoin, Bitrex and Fetch AI discussed the expansion of the exchange from different perspectives.

Listing performance of typical projects on representative exchanges (as of 5.12) by Mars Finance

Exchange IEO & DPO Calendar by Tokeninsight

With the launch of BitTorrent’s BTT on Binance launchpad, the price of BitTorrent soared 5 times from the price of 0.00012 U.S. dollars at the beginning, and ended with a 10-fold increase. Major exchanges including Kucoin and Coinsuper have launched IEO plans one after another. In just two months, funds raised through IEO have reached 266 million US dollars.

However, the core competitiveness of an exchange is still determined by a comprehensive capability matrix rather than a short-term strategy. Many aspects such as technology and security, compliance license, financial capability and user acquisition constitute the barriers of an exchange. For example, Zhang Jun, CTO of Coinsuper, pointed out that the head effect + full financial business + compliance are the prospects for the development of the industry, and the core competitiveness consists of "fiat currency channel + compliance license + investment institution support + technology and security". ("Eight-Dimensional Portfolio｜The Development Way of Coinsuper, Hong Kong's No. 1 Compliant Exchange"）

Tokeninsight Exchange Evaluation Framework

At the Consensus Conference, Liu Yukun, a Chinese-American science fiction writer, delivered a keynote speech entitled "Fantasy Becomes Reality - Science Fiction and the Destiny of Mankind". Liu Yukun mentioned many technological products that have turned from science fiction into reality, including cars, flying cars, uber, self-driving cars, etc. "Now it's cryptocurrency and blockchain."

He believes that the future of cryptocurrencies and blockchain lies in democratization, enforceability, resistance to corruption, and extreme transparency. Liu Yukun said that bad guys always rely on the past to predict the future, while curious people in the blockchain industry are building infrastructure for the future digital world.

Issuers, trading platforms, and funds of security tokens are attracting the attention of millions of people, but what is the attraction of the STO market from the perspective of investors and buyers? Terrence Dempsey from Fidelity Digital Asset, guests from digital asset investment bank BKCM and encryption fund ASP had a roundtable discussion.

Previously, according to Bloomberg News, Fidelity Investments, a veteran asset management company born in 1946, planned to provide digital asset trading services for institutional clients. It is reported that Fidelity is expected to become a broker (Broker-dealer) that provides cryptocurrency trading services similar to ETrade and Robinhood, but Fidelity only targets institutional customers. Welcome to read about the 2019 trend analysis of the security token industrylearn more.learn more.

In the sub-forum "Finding Liquidity: How Market Participants Adapt to STO", XBTO (the world's leading OTC market provider and encryption fund) CEO Philippe, Smart Valor (Swiss encryption fund) CEO Olga and Finder (Australian financial trading platform) CEO Fred had a round table discussion. The ERC20 token enables the birth of an ecology including exchanges, liquidity providers, and e-wallets. How do existing exchanges deal with regulatory challenges? How to provide market-making services for a new digital asset category - security tokens?

In addition to European and American countries, the regulatory framework and industrial ecology of digital securities are also being formed in the Middle East and Asia (Hong Kong, Malaysia, Singapore, Thailand, etc.), welcome to read "The Great Migration of Value Growth Anchor Points - Collision of Blockchain, Southeast Asia and Community Systempostscript

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postscript

The 2020 US presidential candidate and well-known Chinese-American politician Andrew Yang tweeted today, "I participated in the Consensus Conference today, and the blockchain has great potential." In the context of trade protectionism and trade wars, it is expected that the blockchain industry can gather more people's "consensus".