There are no giants in the world of blockchain

Text/Meng Yonghui

Different people always have different cognitions and views on blockchain, which determines their views on blockchain practice.

Some people have deeply bound the blockchain to digital currencies, so they have taken the road of issuing coins or ICO.

Some people separated the blockchain from the digital currency, so they took the road of implementation or application.

From a long-term development perspective, truly considering digital currency as an application scenario of blockchain, rather than all of them, is the correct way to truly grasp the development of blockchain. road.

Today, the development of blockchain has exactly confirmed this for us.

We have seen that all players that are really developing well and moving steadily are players who put the implementation and application of blockchain in the first place; but All players who truly use blockchain thinking to practice are truly vital players.

In a word, the beautiful blueprint of blockchain needs to be supported by its implementation and application. If you blindly regard blockchain as a tool to make money, you will only be asking for trouble in the end. eat.

Having said that, today’s blockchain market has been wandering on the edge of survival or getting rich.

On the one hand, truly considering the blockchain as a technology is indeed a comprehensive and complete understanding of the blockchain. However, this understanding can only The representative is on the right path, but cannot bring considerable benefits to players, which ultimately makes many blockchain practitioners feel that their future is bleak.

On the other hand, through the deep binding of blockchain and digital currency, you can make a lot of money by using the name of blockchain to conduct so-called currency issuance or ICO. A bowl full of food and clothing.

Although this method has been proven to be wrong, we still cannot deny that this kind of behavior that is outside the correct path can indeed make many people become rich. dream.

In the final analysis, the development state of the blockchain market is still caused by the immature and incomplete development of the blockchain.

Why can currency issuance or ICO be able to obtain huge economic benefits for speculators in a short period of time?

One of the very important reasons is that currency issuance or ICO is actually the most mature and complete application of blockchain technology. It is precisely because of this that we see people's "tireless" efforts in issuing coins or ICO.

If the implementation and application of blockchain in other scenarios are as mature as currency issuance or ICO, then we can boldly imagine that in other scenarios, we can also Get equally impressive returns.

This is actually somewhat similar to the early Internet. In the early days of the development of the Internet, those who really made money were not the players who used Internet technology to change the pain points and problems of the industry, but those who applied Internet technology to mature scenarios.

Even BAT, which now dominates the Internet industry, still had a difficult life in the early days of the development of the Internet industry.

To this day, we can still hear or see the bitter experiences of Internet giants represented by Jack Ma and Ma Huateng when they started their businesses in the early days.

So, why did these projects that were not promising suddenly get better and truly become Internet giants leading the development direction of the Internet industry?

The deeper reason for this lies in the maturity of Internet technology and the resulting continuous improvement of application scenarios and business models. After experiencing the iterative upgrade from the PC era to the mobile Internet era, Internet technology has become quite mature. It can be applied to more scenarios besides traditional scenarios, and assumes the important task of leading the development of the industry.

When it comes to blockchain, we still have to use the same logic.

The fundamental reason why the technology-led blockchain development model encounters difficulties is that the technology itself is not mature, and many technologies have not even transcended traditional blockchain technology. .

Blockchain technology itself lacks breakthroughs and innovations, ultimately turning all implementations and applications into a wonderful imagination. Even those players who are committed to using technology to dominate the development of the blockchain industry have to look back and sigh in the face of technological shortcomings.

The key to breaking the development bottleneck of the current blockchain industry is to break through the development bottleneck of blockchain technology and continue to use breakthroughs in blockchain technology to break the barriers to currency issuance or The reliance of ICO has brought the development of the blockchain industry to a new stage of development through the innovation of blockchain technology.

However, innovation in blockchain technology does not happen overnight. At least judging from the current development situation, the research and development and innovation of blockchain technology still require a lot of investment.

We often see that many blockchain projects spend huge salaries to recruit blockchain technology R&D personnel. This is why blockchain technology R&D and innovation require a lot of investment. an epitome of.

This actually falls into another paradox. That is, the implementation and application of blockchain requires technological innovation and iterative upgrades, and technological innovation and iterative upgrades require a lot of investment, which is a big challenge for ordinary entrepreneurs.

This is the fundamental reason why many current blockchain projects cannot achieve breakthroughs.

For traditional Internet giants, they do not have financial reasons. Therefore, they have always been in the lead in the research and development of blockchain technology. .

We see that whether it is from the number of applications for blockchain technology patents or from the implementation scenarios of blockchain technology, traditional Internet giants are actually ahead of the curve. The forefront.

Therefore, many people will naturally believe that the future blockchain era will still be dominated by traditional Internet giants.

However, I do not agree with this view.

The reason for such a judgment can still be found from the history of the development of the Internet.

Because the leading players in the early Internet were also making plans related to Internet technology, but they still did not escape the fate of being surpassed.

Why?

Because they do not apply the new technologies developed to new scenarios and new fields, but regard the new technologies developed as a means to optimize themselves. In the end, the functions and functions of these new technologies could not be fully exerted, and they were eventually castrated.

Therefore, the early leading Internet players were surpassed by the later BAT.

Looking at the blockchain again, in fact, we can also see such a development trend.

Although the current Internet giants have invested heavily in the research and development and innovation of blockchain technology, and have indeed taken a big lead in technology, they are still in the application stage. In the process of blockchain technology, blockchain technology is still used to maintain its previous leading edge, rather than building a brand new system.

When blockchain technology only operates under the traditional system without jumping out of the original system, its functions and effects cannot be fully utilized.

From another aspect, we can see that the implementation and application of blockchain under the original system will eventually become a vassal of the original system, and Only by truly breaking out of the original system and truly shattering the original system can the functions and effects of the blockchain be maximized.

Therefore, the future of blockchain is not in the hands of the giants.

When technology becomes the engine of the blockchain industry, what we see is a development state of ice and fire.

This is unhealthy and not long-lasting.

Once blockchain technology matures and is widely used, this polarized state of the blockchain industry will inevitably end.

Today, blockchain technology is actually led by Internet giants. However, this state of development cannot truly maximize the functions and effects of blockchain. of play.

Because the greatest function and role of the blockchain is to build a new operating system, rather than patching up the original system, only those who dare to break the original system , only those players who dare to build new systems will be the leaders of the future of blockchain.

They are no longer centers similar to Internet giants one after another, but have become "points" on the chain one after another.

In the "peer-to-peer" world, the concept of giants no longer exists.

In short, there are no giants in the world of blockchain.

Author: Meng Yonghui, senior writer, columnist, special commentator, and industry research expert. He has been focusing on industry research for a long time and has published more than 4 million words of financial and technology articles. Sharing that retains the author's source is supported. Please retain the author's copyright information when reprinting. Violators will be prosecuted.