3 pm today, seven central government departments have just joint released the Announcement of Financial Risk Prevention to ICO. The Announcement declares ICO illegal and freezes the fiery token fund raising market.
The Block Chain Technology start a new age of digitalized value exchanging and trading. It would create a world-wide value exchange network by reducing the trading latency greatly and remove most obstacles between value exchanges, such as cost or latency in credit guaranty, liquidity provision, order confirmation, clearing of exchange and so on. However, most of the Block Chain techniques are still in experimental stage due to their technical limitation. Although the whole Block Chain industry strongly holds the confidence that the technology would become the next generation infrastructure of the Internet, Gartner predicts it would not take short time that day comes[1].
Opportunity comes, people gathers. This year 2017, with only a White Paper a “Blockchainlized” project can be chased by global hot money. Under such breathe taking atmosphere, Initial Coin Offer, namely ICO, boost like a rocket [2] and greedily overdrawing the future of the industry. The Announcement hopefully would withhold the excessive speculation momentum and pull the industry development direction back to the correct track of creative and practical.
Because of historical reason, the Block Chain Industry has being crowded by a horde of crypto-currency users whose opinion would impact the whole industry because of their great share of market. In fact, crypto-currency is only a special example of Block Chain applications. The great future of the technology lies in to optimizing the global resources allocation on the Internet so that to bring forth a new expression on its new dimension of value. The impact would spread across all industry not only limited to crypto-currency, finance or current hotspot, the transaction-oriented applications.
Transaction-oriented Block Chain dominates the market reflects the industry is still stuck in traditional thoughts of Block Chain. Hyper Chain believes this situation should be changed very soon, especially under the circumstance that the Announcement move the public’s eyes away from tokens trading. The Block Chain technology on Ownership Validation, Smart Certificate, Data Intelligence, IOT autonomy and so on, would obtain more opportunities to thrive.
[1] https://www.gartner.com/doc/3392717/hype-cycle-blockchain-technologies-programmable