Forum 4—The Rashomon Era behind the digital economy. Let’s start with the trading market

In June 2013, CHBTC (the predecessor of ZB) was established. In the following 7 years of safe and stable development, ZB has grown into the world’s top trading platform with more than 10 million registered users. Create a real and safe trading environment for users from more than 189 countries, bringing a more professional and efficient trading experience.

This “New Infrastructure, New Opportunities” and ZB 7th Anniversary Celebration is hosted by ZB. The event held on June 28–30, and held twice a day in zb APP hot chat group and ZAPP (Group Qtv).

The following are the highlights of the Q & A session:

Host (Jessica ZB Group Business Director): For digital currency, one hundred people has one hundred hamlets. The market website, as one of the major portals of the crypto space, holds many market data. We also very much want to listen to the analysis from the data aggregation portal to bring us professional market analysis.

Host asked YuNing (Feixiaohao): As the top ranking website in Asia, can you tell us what you think about this year’s market?

A: The linkage with the traditional market in the first half of the year; the continuous gathering of contracts; DEFl’s continuous efforts to break through, the market is always changing, and adjusting your own rhythm is crucial. In order to allow users to keep up with the rhythm, Feixiaohao keeps a close watch on market changes at any time, provides the most timely data and information, and newly launches external data; contract data; circle communication; and DEFⅠ data to be launched soon. The purpose of continuous optimization and adjustment of the discovery page is to enable users to obtain data support and reference faster and easier. No matter the market conditions change, we will always support you.

Host asked Enoch (Yahoo Japanese Blockchain Fund Overseas Business Manager): Yahoo, as the largest mobile internet company in Japan, do you think the Japanese market will change in the second half of the year?

A:The Japanese cryptocurrency market has always been at the forefront of Asia in terms of regulation. In May this year, Japan implemented new laws governing cryptocurrencies. The “FIEA” and “Payment Services Law” are amendments to existing financial regulations, which came into effect in May. Compared with China, there are relatively few high-quality blockchain applications in Japan. Most people still focus on bitcoin transactions. In the second half of the year, due to the impact of the epidemic, it is estimated that it is difficult to expect much change in the Japanese market. For exchanges, there may be several new licenses issued in Japan in the second half of the year. There are now about 20 compliance licenses in total, which may increase in the second half of the year. In addition, major companies in Japan are also more interested in STO, and the market in this area should also grow in the second half of the year.

Host asked Ruby (Bitkan CMO): As a senior list, media and aggregation trading platform, does Bitkan have any predictions about this year’s trading market?

A: because of this sudden epidemic, the United States launched a $2 trillion stimulus package to avoid a financial crisis. This was not a big problem originally. After the epidemic recovers, the economy will recover again. However, at this juncture, trade disputes between China and the United States are further upgraded, and the economy of China and America are “decoupled”, which will become a greater risk. After the two countries’ enterprises resumed work, they would find that they had no orders with each other, but the stock market was on the rise. According to the previous economic model, this is inflation. I personally think that the economy will move towards deflation in the future. Of course, there are also many people who believe that the economy will further inflate in the future. But in my opinion, regardless of inflation or deflation, the status of digital currency will not change, it will usher in a bull market.

Because of derivative products such as contracts, the existence of short instruments will dilute some of the upward force, but I believe that there must be a bull market. Although it is unlikely that there will be a bull market surge in 2017, unless there are major technological changes similar to the ICO that year. This time, it will be a slow bull and may not be noticed, but it will definitely be there.

Host asked Bobby Ong (Coingecko): After CMC was acquired by Coen, it has been questioned a lot. Has your market search traffic increased because of that?

A:Yes, most definitely! Ever since the acquisition by Binance, nobody views CMC to be neutral any more as all the things they do are now no longer independent. They have a strong need to make their owners look good as how else can they justify the high price tag paid? Many people in the English-speaking world and on Twitter have said that they are now using CoinGecko. We are actively engaging the community and finding ways to grow. We are a community-first company and have our ears on the ground constantly listening for ways to further improve.

The community can see our strong points because we take data independence and neutrality very, very seriously. As a major provider of data in the crypto space, millions of users worldwide rely on our data to make many important decisions. Therefore every decision that we make has far-reaching consequences. We view it as our responsibility to ensure that our data is not biased and most accurately reflect the real situation in the crypto market.

Host asked Raymond Zhu (DSF CEO): Do you think the market after bitcoin halving is worth looking forward to?

A: We believe that digital currency finance will follow the four-year cycle, and there will be a big market. It’s just that the historical plot is not the same. If you take a closer look at the changes in the TOP 20 coin ranking of coinmarketcap, you will find that CRO and Compound are listed, and you can also see that the USDT’s circulation market value closely follows Ethereum, the difference between the market value of Ethereum and XRP has increased. Under this trend, we can now expect Ethereum to be officially launched in ETH 2.0 this month or next month, which is an important step in the transformation of Ethereum from PoW consensus mechanism to PoS consensus mechanism. Under PoS, Ethereum’s DeFi ecosystem will rely on the scalability constraints of the PoW consensus mechanism, resulting in explosive growth.

We’ve seen a lot of explosive digital currencies lately coming from Ethereum’s next-generation version of DeFi, including multiple to tenfold gains, Compound and Kava, all backed by Coinbase and Coinbase. I believe that most people in the industry who are forward-looking are paying close attention to Ethereum’s next-generation DeFi application. They also believe that this will be the breakthrough point of this round of bull market and one of the core hotspots in the second half of 2020. As a DSF team that specializes in R&D and social network operations, we have chosen to cooperate with ZB, the industry leading digital asset exchange in the world, to create a case of DeFi coins that is no less than Compound and Kava.

Media interview questions:

BitUniverse asked YuNing (Feixiaohao):People in the market often compare feixiaohao with CMC. On April 2, Binance announced the acquisition of CMC, which triggered a “crypto space trust crisis” discussion. How would you rate this acquisition? Users in the market have more and more doubts about the “swipe volume” of the exchange ranking. What measures will be taken to further consolidate and enhance their market position?

A:For the acquisition in the market, I believe that both parties have their own needs and meet the demand to reach a deal. These are just market behaviors. For the market data platform, we have our own ideas and perseverance: neutral, objective and accurate! As a platform, credibility is the core. Bringing value to users is our mission. For the “brush flow” behavior, feixiaohao exchange’s global ranking has been added to the audit mechanism since the beginning of 2019. Respectively from: active; assets; reputation; popularity; foundation; security, 6-dimensional comprehensive evaluation and review of the comprehensive strength of the exchange to solve the problem that the single dimension is not objective and accurate enough. After more than a year of implementation and optimization, we have received more and more support and recognition. We will continue to optimize and provide more data and support that users need. Everyone’s comments and feedback are also welcome.

Block-hunt asked Enoch (Yahoo Japanese Blockchain Fund Overseas Business Manager): DEX are gradually becoming mainstream. Some people think that the ideal decentralized exchanges (DEX) in the future are a good risk hedging tool. What do you think of this?

A:Although decentralized exchanges are growing fast, due to technical immaturity and restrictions, their transaction depth is not deep enough, and the transaction currency is not enough, and the transaction performance, especially the user experience, is far from the common centralized transaction. So at this stage, it can only be used as a complementary tool. As a tool for risk hedging, I think decentralized exchanges will grow, but they cannot replace existing centralized exchanges. In Japan, all licensed exchanges are centralized exchanges, and the harsh conditions of the Ministry of Finance are afraid that the first stage of decentralized exchanges will hardly have much development in Japan.

Btc123 asked Ruby (Bitkan CMO): What is the future of Defi?

A:DeFi is definitely the hottest area in the encryption industry. Since the beginning of 2020, the total value of DeFi Lock (TVL) has exceeded US$1.5 billion, and the market has grown by more than 120%, growing exponentially. But compared to the ICO, DeFi is currently only in its infancy. ICO solves the problem of financing and being financed, which is a very large social phenomenon. DeFi is decentralized finance and solves the problem of financial liquidity. Although led by Compound lending or mining, the popularity of the entire market has pushed to a new high. But in my opinion, compared to borrowing, the decentralized exchange DEX will have more room for imagination.

Transaction is a financial product with high efficiency and repeated friction, and the significance of solving the transaction will be greater than that of borrowing. However, DEX at this stage cannot solve the liquidity problem. The speed is too slow now. Once DEX solves this problem, it will completely subvert our existing trading model. I believe that DEX will be the future trend, with considerable imagination.

Bcoin asked Bobby Ong (Coingecko):How do you view the acquisition of CMC? Does CMC acquisition have any impact on Coingecko?How to view the fact that market type flow type software is mostly acquired or invested by the exchange?

A:The acquisition of CMC has been very good for us because CMC now shows biased data and it is no longer independent. CoinGecko is the only remaining data aggregator that is independent. Without any external investors or owners, we are free to chart our own path and independently verify and rank cryptocurrencies and exchanges. Unlike other data aggregators that have exchanges as shareholders or owners that will try to influence their ranks, this is something which we do not face any pressure to do so.

We have been approached multiple times by exchanges, venture capitalists, and angel investors. We have resisted taking external funds as we value our independence. With the reaction of the crypto community to CMC post-Binance acquisition, our stand to stay independent seems to have been appreciated by the community. Being a neutral entity is a key factor for the crypto community as the community demands neutrality in the data space. Thus it is important for data aggregators like CoinGecko to stay neutral and not have any exchange as their investor as this will heavily influence decision-making in the company.

Ace Community asked Raymond Zhu (DSF CEO):How is DSF decentralized social network different from some exchanges with chat rooms and wealth management functions?

A:In the era of rashomon behind the digital economy, we believe that the most important thing is to truly use blockchain technology innovation to bring value to the world, make the entire world economy flatter, and break the centralization of institutions in the financial field. The shackles set by a good life make the world a better place by allocating resources more reasonably.

Under this concept, our team started the development of the DSF project. We look forward to building the blockchain world into a social network. The relationship between people is recorded on the blockchain, and then the smart contract is used. Building a variety of DeFi distributed finance in such a distributed social network will accelerate the flow of DeFi on the blockchain social graph, and at the same time allow DeFi to obtain a larger extended network for self-growth.

From this perspective, I think it is appropriate to say that DSF is the DeFi version of Facebook. We believe that this model will be a sign of the future DeFi 2.0 era, it will bring more disruptive innovations in the design of DeFi products, and it can also form an ever-expanding ecology on its own. Just like Facebook revolutionized the Internet industry. The core members of our team have the background of BlackBerry, Qualcomm and Apple, and they have jointly developed with the Internet giant BAT Messenger with tens of millions of users.

The social network DeChat based on blockchain encryption technology has been launched and has close to one million users. In the past few days, our Token DSFT will also become the first DeFi project launched by ZB this year, and I would like to thank ZB for entrusting us with this important task. We will launch our Staking network in the near future. Everyone can become a node in this blockchain social network. After becoming a node, it will become an important part of DSF’s DeFi distributed finance in the future.

We are designing an on-chain social DeFi service that covers wealth management, lending, shopping, investment, insurance, etc. Financial services in these areas, in the Internet world, we can find the shadow of many giants, such as group buying funds, P2P lending, social shopping, crowdfunding investment, mutual insurance, etc. But because of the problem of centralization, these financial products always have problems that are difficult to solve, such as the minefield of P2P lending. So if we put these social finances on the blockchain world protected by programs and algorithms, this will bring exciting and revolutionary new services. For example, in the insurance field, we will also launch Alibaba Mutual Treasure with the same blockchain in the future, so that more people around the world can enjoy such convenient and affordable insurance services. There are many types of services that can be imagined. We have strong confidence that DSF Token has a large number of currency holders worldwide.

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