Because this is equivalent to saying that all the business models of these big Internet companies are now going to collapse.
Editor’s note: This article is from the WeChat public account “silicon release” (ID :guifabucom), by Lynn Yang.
There is a special trait around “encryption”, which is: purity and greed.
The two camps, one of which is a purist, have their own unique mission and drive it – developing a decentralized technology platform. This group seldom cares about encryption as an upstream currency. The other camp is an opportunist. In this group, there is a motive for money, which is stronger than anything else.
Sun Yuchen earned enough attention with Buffett, but did not bring us any really valuable information. Today, I want to give you a big trend about what is happening in the US blockchain world. Because after all, the money level things, everyone can actually understand, but if you really want to say “subversion”, it is another level of things, that is – data TheshouldRight to the issue.
And this is the real logic that Facebook suddenly wants to send the digital currency Libra. And once successful, it will mean:
The business of the technology companies based on user data monetization will be rewritten. Of course, it also includes China’s big Internet companies.
The following is a self-reported form that I formed after interviews with three American cryptocurrency circles and American scientific and technological circles. After three interviewees requested anonymity, I hope to give new readers to domestic readers. Understand the angle.
The following is a self-reported interview with three interviewees.
It should be noted that in the United States, SEC-compliant cryptocurrency projects are legal, but at present, the SEC is increasingly strict with this regulation, including anti-money laundering organizations.
The central bank meeting on August 2 pointed out that in the second half of the year, we should accelerate the pace of research and development of China’s legal digital currency (DC/EP), track and study the development trend of domestic and foreign virtual currencies, and continue to strengthen Internet financial risk remediation.
Special statement: This article is only to convey more market information and does not constitute any investment advice.
I will introduce myself to you first. I was in contact with cryptocurrency in 2012. I started investing in April 2017. I probably invested more than 100 projects. I can participate in the ICO you can see on the market, so I don’t want to say my name because I am in the circle. Know, including Sun Yuchen.
To be honest, I saw Sun Yuchen taking the Buffett lunch. The first reaction was: he must have a high man behind him. This is my guess. I don’t know who it is, but there must be such a think tank, consortium or high-ranking person who is not willing to show up. They want to give Buffett a class. It’s as simple as that. Second, I think he will come out with a few things that make you stunned. This is what you can expect. He will not bring his wave currency to the top five and will not give up. This is the first reaction I saw at the time.
But on the contrary, this incident has also produced some bad results because of excessive hype, including letting the public’s view be “entertainment”, instead of paying attention to the communication between the blockchain and the mainstream society. . Among them, the domestic perspective of attention generally misses a very important piece of information, that is – the “ownership” issue of data.
And this matter is closely related to each of us.
It’s like saying, now you use WeChat, use Taobao, use Baidu, use Alipay, use Google, use a lot of all, all these platforms or products, the data you created above, the default is to return Company owned. But if you look at the trends in the United States, these data ownership will be returned to the individual,and as your “labor” in the online world, it can be realized, just like Our “labor” in the real world can be realized.
In this sense, a parallel digital world is in the process of being formed. That is: In the future, each of us will carry two currencies with us: One is the real world currency, which everyone can understand (but in addition to the centralized legal currency, there will be decentralized currencies, such as bitcoin, etc.); Another currency is your “data asset”, which is your interest after you have created data for major companies on the Internet.
The two core things here are: First, your work on the Internet has value and can be realized; second, return the ownership of what you have to you.
This is the essence of the future blockchain. Decentralized software is not owned by an organization. The public chain is already doing this.
Why did Facebook suddenly send digital currency?
This thing has been seen very clearly in the United States. Including: Why did Facebook suddenly say that it is going to be the digital currency Libra?
Note:No news can be split and interpreted separately. Here, you need to ask a question first, what is the biggest problem for Zuckerberg in the past two years? In fact, there is only one thing: user privacy issues.
Including previous, there were more than 50 million user information on the Facebook platform, which was acquired and utilized by the political data company Cambridge Analysis. These data were used to help Trump campaign. At that time, many people felt that their interests were damaged because they might not support Trump. So in the United States, including in other countries, more and more people are beginning to pay attention to the ownership of their own data. That is: Who can I use for my data? I have to have my own opinions and opinions.
Including a dozen days ago, Facebook was fined $5 billion, a fine for the largest amount of user data privacy issues in US history. In the first two days, Facebook’s new quarterly earnings came out, and net profit fell 49% year-on-year. The reason behind this was related to the impact of regulatory and advertising products caused by user privacy protection issues.
So why is Facebook suddenly going to engage in digital currency? Although it was not mentioned in the white paper, in March of this year, Zuckerberg actually wrote a blog, he talked about the major transformation of Facebook. He said: Facebook will place great emphasis on privacy in the future, and he believes that the future of communication will turn more and more privately.Human encryption service.
This is a huge reversal because everyone knows that Facebook’s business model is based on “public information + advertising.” And when Libra’s news came out, we saw it at the time:
Facebook wants to use the technology and concepts of blockchain to solve the inherent conflicts of its own business
,
Because the blockchain is currently the easiest and most convenient technology to allow users to own their own data and securely store and monetize it.
In this way, on the one hand, Facebook can use blockchain technology to “determine” user data; on the other hand, it can use “digital media” to “motivate” users to upload data and feed advertisers. Solve user privacy issues.
The biggest difference between blockchain and non-blockchain is actually the management of personal databases. If there is no digital currency, the “incentive” to the user may become a problem. We say that the main difference between the “no-coin blockchain” and the “coin-blockchain chain” is that the coin-chain blockchain can make data. The liquidity is improved to at least 3-5 times.
And if Facebook really succeeds in this thing, the subversiveness is huge. I remember Han Feng, who is less concerned about the logic behind Libra. He had an interview on the Himalayan FM and spoke very well.
He said: This is equivalent to China’s real estate certification in 1998, real estate licenses, and then China has set off a huge wealth movement. And data privatization will be the same, it will have a huge impact, which is more than what Facebook wants to do mobile payments, and Alipay, Tencent payment competition, < /span>Because this is equivalent to saying:All of these big Internet companies’ business models are now going to collapse.
Because the basic business model of all Internet companies is now based on the free use of user data. And if you think about it again: If this is a global competitive environment, then once users can buy on other platforms, can socialize, but can’t make a fortune, will everyone spend time on you? impossible. So this is likely to result in a platform that cannot be transformed in time, and survival will be worrying.
This is the big background that is happening in the United States. Including the previous burst, the United States has a senatorA bill called “The DASHBOARD Act” is required. This bill requires companies such as Facebook, Google and Amazon that use advertising as their business model to disclose how much their user data is worth.
Impact on startups
But at the same time, the impact of “data validation” on startups is also very far-reaching, because one of the problems that startups, especially artificial intelligence startups, often face is that I don’t have that much data. Finally, you can only sell yourself to a large company.
But if the user data is “asserted”, users can give their data to other startups. I said a good case is a genetic testing company in the United States that is now very hot: 23andMe.
This is a company founded in 2006 by the wife of Google co-founder Sergey Brin. The whole service process is like this: you open its official website, choose a service of 99 dollars or 199 dollars, then, it sends a thing to your home, you spit on this thing, and then send it back to 23andMe . Finally, 23andMe gives you a copy of your genetic test report.
But inside, what many people don’t know is: First, the results of this genetic test report you get are not a comprehensive analysis of your entire genome (WGS), but only a small proportion of genes. Detection, business value and medical value are not as good as the former; second, 23andMe is a loss for every customer, because its entire business cost is spread to each customer, it is impossible to be 99 dollars.
In fact, I know the situation is: a user sample, the user pays $99, 23andMe subsidizes more than $1,000, and then it sells the sample to a third party, each sample is priced at a few hundred dollars, and can After several sales, in the end, I was able to sell a sample to about $70,000.
So, just like Ancestry, 23andMe’s real source of profit is actually selling your personal data to other medical institutions or research institutions . Do you know the income of Ancestry in 2017? One billion dollars.
So that is, 23andMe is actually a data collection company. Moreover, it uses our body data to make money, but the money