The powerful enemies in the currency circle are here, and they are all trump card regular troops.

They are the protagonists of three major events with far-reaching impact on digital currencies in 2019:Facebook is preparing for Libra, the People's Bank of China is planning the RMB digital currency, and Bakkt is launching physical delivery of Bitcoin futures.

Facebook and Bakkt respectively represent global technology and financial giants who are optimistic about digital currency. Behind them are world-renowned large companies such as Wal-Mart, Goldman Sachs, and Nasdaq, who are eyeing up and want to enter the digital currency industry.

The People's Bank of China is the leader of the global central bank. Under its leadership, the central banks of Europe, Japan, Canada, Singapore and the United Kingdom are also in full swing to prepare their own central bank digital currencies.

Unfortunately, the three protagonists are not going well this week.

On Monday, September 23, the long-awaited Bakkt physical delivery bitcoin futures encountered a cold market as soon as it went online. Only 8 bitcoins were traded in the first hour, and the trading volume for the whole day was only 60 bitcoins, which was far from expectations.

On Tuesday, 24th, Central Bank Governor Yi Gang said that there is no timetable for the launch of China’s central bank digital currency. Obviously, the central bank still has a series of research, testing, pilot, evaluation and risk prevention to overcome, and there will be no breakthrough in the short term. progress.

On the same day, on the other side of the world, the U.S. Congress held another hearing to ask the U.S. Securities and Exchange Commission (SEC) about the regulatory direction of digital currencies, especially Libra. The U.S. legislature is still suspicious of Libra and will not release it easily. And the European central banks have already said that Libra is not allowed to circulate in their countries. It seems that Libra will face unimaginable resistance from global regulation.

In fact,

In fact,Prudence and prudence are the genes of large enterprises and state institutions, behind which they represent the interests of hundreds of millions of user groups, which requires them to constantly explore the best balance between innovation and compliance, so it is normal to move slowly, and even encounter setbacks and failures sometimes.

Innovating on a very mature existing financial system will inevitably not be smooth sailing.

In contrast, the new digital currency field is a blank sheet of paper, allowing currency circle companies to run wild on it, and realize the speed and efficiency of "one day in the currency circle, one year in the world".

However, the space for white paper is limited after all. It is estimated that there are only 25 million digital currency users in the world, accounting for only 1/300 of the global population. The total amount of funds is 200 billion US dollars, which is 1/5 of the stock market value of Apple. Existing users and scenarios alone cannot support the long-term prosperity of the digital currency industry.

Expanding the scope and influence of digital currency, bringing real value to users, and attracting more people to participate is the long-term solution for the development of the digital currency industry.

All of this is inseparable from the contact and integration with the traditional financial world. When necessary, the digital currency needs to lower its proud head, lower its figure, and "take refuge" in the traditional financial system.

Therefore, the currency circle cannot underestimate these powerful enemies. To challenge the old world, the currency circle still needs to work hard and continue to work hard.

Of course, the influx of powerful enemies is both good and bad.

On the one hand, the participation of ace companies and state agencies in the digital currency industry will bring more users, realize more practical scenarios, and make the society more and more recognize and value the digital currency industry.

To give a living example: Sina recently took the initiative to invite me to record "Ten Lectures on Digital Currency Investment》Phonetic courses, and promoted on the homepage of the whole network.

I'm slightly surprised by this, which would have been unthinkable a few months ago. As a traditional old-fashioned financial media, Sina has always followed the rules and is cautious in reporting on digital currency. My Sina Finance review articles often involve digital currency and are rejected. It is the participation of Libra, the central bank and Bakkt, which has a wide range of influential enterprises and institutions, that has aroused the public's strong interest in digital currency, and has caused a 180-degree change in Sina's attitude towards digital currency.

It can be seen that digital currency is no longer a heresy in the eyes of the public, it has begun to enter the mainstream people's attention. This is undoubtedly great news for practitioners of digital currency.

On the other hand, companies in the existing currency circle will inevitably face competitive pressure from traditional giants.

In terms of compliance degree, capital volume, influence, user scale, technical level, and talent pool, no matter in terms of software or hardware, currency circle companies have no advantage over the regular army.The uniqueness of currency circle companies lies in their continuous innovation, that is, innovation in technology and business models, reducing financial costs, improving financial efficiency, and allowing more people to enjoy financial services.

Regrettably, since Satoshi Nakamoto created Bitcoin, only Ethereum and EOS can be called breakthrough innovations, and there are very few companies in the currency circle with a real sense of mission and achievements. Even some companies with great potential are full of faith and determination at the beginning, but because of the rapid accumulation of wealth by digital currency, their fighting spirit is wiped out and they are willing to be mediocre.

As a result, the currency circle is full of impetuous atmosphere of pure speculation and hype to get rich, or the impetuous atmosphere of issuing coins and cutting leeks to get rich. These pseudo-innovations do not help the real economy, let alone realize the greatness of allowing more people to enjoy efficient and cheap financial services vision.

At the same time, regulatory measures and regulations on digital currency in various countries have been introduced one after another. Regulators are happy to see that the digital currency industry is dominated by "obedient" traditional giants, so the overall trend of regulation will become stricter and tighter.

There are already powerful enemies everywhere, and the currency circle will no longer show the sense of urgency and innovative spirit that it depends on for survival. If it continues like this, the prospects will be worrying.

As a veteran driver in the currency circle, I am very worried.