China has the largest number of digital currency traders, but has driven the ICO and trading platforms out of the country; the United States has the most complete financial market system, institutional investors are far better than individual investors, individual investors can not make waves in the market, for the figures In the currency, the United States has established a futures market and a trading market; the Japanese financial market cannot be compared with China and the United States, but the government has issued licenses for establishing trading platforms for overseas institutions.
After several years of evolution, when the global government has realized that it can't contain digital currency transactions, the governments of China, the United States and Japan have taken a completely different attitude toward this increasingly shaped market. In the eyes of the industry, the three countries of China, the United States and Japan have opened up a "prescription" for the digital currency market. It is like a game of three kingdoms. Whoever wins and who will go out can only play slowly as the pattern evolves.
Although the current market value of the entire digital currency market is only $400 billion, when the digital currency market reaches trillions of dollars per dollar after three or five years, which country has the first chance, which country really controls the digital currency transaction? The initiative.
This is a game that can't afford to lose!
China: Fish and bear's paw can't have both“In fact, China’s mentality towards digital currency is contradictory. When China’s officials from the central bank expressed their positive embrace of blockchain technology, the other side took the means of strangling the ICO and digital currency transactions. Blockchain technology and digital currency are just two sides of a coin, inseparable. Only blockchain technology is used instead of digital currency trading as an incentive, just like a man who has been castrated, it is impossible to use blockchain technology. There is a big deal; but only concerned that digital currency trading does not pay attention to the impact of blockchain technology on the industry, this emerging technology will eventually become a bubble game."
In the researcher's view, in the process of blockchain technology development, the appropriate bubble is allowed, because only the bubble can stimulate the enthusiasm of the market, and promote the development of blockchain technology. In the process of natural bubble birth and death, truly excellent application scenarios and technologies will fall.
In response, many industry insiders also pointed out during the interview that this news reflects several major messages:
First, the state does not allow the emergence of ICO in the country. Once it is discovered, it will be banned. The ICO is unfavorable to the stability of the domestic financial market and is likely to cause market risks and illegal fund-raising.
Second: the message only lists the bitcoin transactions exiting the market, but does not name other digital currencies. In fact, global circulation is recognized by speculators as having thousands of digital currencies that have not yet been incorporated into the eyes of Chinese regulators.
Fourth: The Chinese government expects blockchain technology to have a major impact on the industry, but the inseparable companionship between blockchain technology and the issued digital currency has caused the government to worry. This mentality makes it possible to establish a firewall first in the current situation.
Fifth: the domestic grassroots blockchain start-up institutions and people of all kinds of currency circles have never stopped playing with the government. When the ICO was suspended, domestic projects were transferred overseas; when the exchange platform was closed, the domestic platform was also transferred overseas; the number of digital currencies hoarded by domestic project agencies was staggering, and once the stagnation period was over, the market emerged. The digital currency is likely to be out of control.
All of these have determined that China, as one of the most populous countries in the world, has no way to independently control independent regulation of the virtual market where digital currency is independent of governments. China has the largest number of people participating in this market. The difficulty of regulatory control determines that the government can only manage it in isolation in the current way.
But the pros and cons of this policy may only be seen in the future.
United States: 觊觎 trillion dollar market transactionsFrom the very beginning, the United States has been eclectic for digital currency transactions.
“The advantage of the United States is that investors are mature. In the entire financial trading market, individual investors account for a small proportion, and institutional investors are market makers in all markets. From stock trading to commodity futures to derivatives trading, The killing between institutional bookmakers can be completely ignored. For the digital currency market, the same is true.†On April 29, a senior investor on Wall Street said.
The United States does not have to worry about the bubble in the market because it knows that there are fewer domestic players in the United States, and more than 90% of investors come from overseas. What the United States is saying is that the entire market can bring tax revenue.
On April 23, the blockchain company chain tower think tank released the "First Quarter Digital Money Exchange Research Report of 2018". This report shows that there are currently more than 1,200 kinds of digital currencies in the world, and the market has a daily transaction volume of about 160 billion. yuan. As of now, the total market value of digital currency is close to 400 billion US dollars. The highest ranked exchange in the world is BitMEX, OKEX is ranked second, and the currency is ranked third.
The data also shows that up to now, there are 177 effective digital currency exchanges in the world. There are two OKEX and two currency exchanges with a single day trading volume of over RMB 10 million. There are six exchanges that support legal currency transactions.
At the end of last year, Chicago launched a bitcoin futures transaction; just two days ago, it was reported that Nasdaq was preparing to establish a complete digital currency exchange.
The US government's wishful thinking is to establish a globally complete digital currency trading market, and to profit from the expansion of digital currency transactions.
"From 400 billion US dollars to 1 trillion US dollars, from 1 trillion US dollars to 10 trillion US dollars. If the United States can really become the base of digital currency transactions, then the United States can be effective from two places, one can levy a considerable amount of money. Trading stamp duty; the other side of the digital currency is very likely to become another new trump card in the United States, which will be used as a weapon against other countries' financial markets in the future," said the investor.
However, the American wishful thinking is not necessarily successful. After all, the trading of digital currency is based on decentralized blockchain technology. If digital currency becomes another centralized stock trading market, then digital currency trading itself will not exist.
Japan: Attracting overseas platforms to peek into taxesCompared with the United States, the Japanese government may be more sensible.
"Since digital currency transactions cannot be banned, it is better to introduce appropriate financial regulatory policies, build a decentralized trading platform, issue licenses, and allow these exchanges to enter Japan. Japan can benefit from these exchange platforms. "There are people who analyze.
Previously, Japan had issued 16 trading platform licenses, and the exchange platform that was once driven by China could just move to Japan. But these trading platforms are inherently mobile, and once Japan’s regulatory policies tighten these trading platforms, they can move. And the big trading platform is built by the Chinese, which country in the world does not supervise, and which country their servers can be placed in. From the small countries of the Mediterranean to the tax havens of Central and South America, they are the “parks†of the exchange. Japan may not be able to do so.
It is understood that on April 30th, the company's currency security program, one of the world's largest exchange platforms, set up a new global compliance center in Bermuda and created at least 40 jobs. Other digital currency exchanges and suppliers are also trying to adopt a similar approach, and introducing digital currency to the public will require a lot of collaboration between different entities.
It can be seen that no matter which country, if you want to control the digital currency with a centralized supervision, these exchange platforms will escape.
In fact, the trading of digital currencies is not just a regulatory game between global countries, but also a game between exchange investors and the government. The digital currency created by blockchain technology itself is moving toward unregulated goals, but in the process, there will inevitably be numerous conflicts and even more.
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