The development trend of blockchain technology and the future of blockchain finance

Blockchain technology is an epoch-making and revolutionary innovative technology that will profoundly affect and change everything we are familiar with from all aspects.

So will a large number of jobs disappear from the world? I think back then, the birth of computers also took away many people’s jobs. On the other hand, it created a lot of new opportunities and new positions. “Programmers” are familiar to everyone. Software and its surrounding industries have formed a very large-scale industry, and the number of new jobs created is astronomical.

The development trend of blockchain technology and the future of blockchain finance
Blockchain technology

This is true for computers, and it will be true for blockchains as well. As this technology spreads, bank employees may be the first to lose their jobs, and banks themselves may disappear. When today’s children grow up, there may no longer be a need to “go to the bank to do errands”, as everything can be done with a mobile phone. In fact, the post office is a classic example. I believe that many of today’s young people don’t know what a “post office” is. Today’s post office may be tomorrow’s bank.

In order to catch up with the blockchain trend, many people are keen to invest in various “virtual encrypted digital currencies”. They have also invested so much real money, but they don’t even know what blockchain technology is. This kind of blind investment is nothing different. For gambling. Nowadays, the market prices of various virtual encrypted digital currencies, including Bitcoin, generally suffer from excessive fluctuations. You can make huge profits and lose money in an instant, and products with this kind of characteristics are often extremely unreliable, and the investment value is extremely low.

Today, those who are keen on “virtual digital currency” transactions seem to think that they are smarter than the government and have the ability to play with a so-called “currency” that is not authorized by the state machinery without having to bear the consequences. , or even make a lot of money. However, the state machine is, after all, a state machine, the law is, after all, the law, and the rules of the game are, after all, the rules of the game. Trying to challenge the country is tantamount to trying to take advantage of the situation.

Just think about what would happen if the government banned the trading and use of virtual digital currencies. No country will tolerate a challenge to the status of its sovereign currency, which will cause huge chaos in a country’s financial order.

In the world of virtual digital currency, whether it is the preservation, management and use of currency, or supervision, coordination and maintenance, everything is carried out in computers and cyberspace. China, in particular, is even considering issuing a sovereign digital currency based on blockchain technology by its central bank. In recent years, the “cashlessness” of our society has developed to an astonishing degree. Mobile payments are so ubiquitous that it’s difficult to use cash even when taking a taxi. So cash is likely to disappear or be infinitely close to disappearing in the near future.

This background creates excellent conditions for the central bank to issue digital currency. The popularity of digital currency has many benefits for the government. Due to the traceability of blockchain technology, any person or any details of any transaction will be invisible to the central bank. This can greatly solve many financial industries, such as money laundering, tax evasion, gray income, etc. With digital currency, the interactive relationship between the government and the people may be deeper. For example, if your child buys too many game software or books that are inappropriate for his age, parents may receive text message reminders so that you can educate and manage your children in a timely manner. There is still a lot that sovereign digital currency can do. Even life details such as eating too greasy, drinking too much, and smoking too much are included in the government’s refined management, thus greatly promoting the well-being of citizens and the entire society. Even privacy will come to the fore, and the process of solving this problem will be in sync with the development process of society itself.

All of this can only happen in computers and cyberspace. This is the basic characteristic of digital currency. Even so, ordinary digital currencies and sovereign digital currencies are two different things. In other words, sovereign digital currencies are government actions and the product of state machinery, while general digital currencies such as Bitcoin do not have this property. Therefore, it is absolutely a huge misunderstanding to regard government actions’ support for blockchain technology and sovereign digital currencies as investment opportunities for Bitcoin or other virtual digital currencies.

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