Bitcoin, supply chain finance, equity crowdfunding, secondary market investment

1. Currency: The significance of Bitcoin lies in its role in rebuilding the infrastructure of the entire financial system

     Bitcoin uses mathematics and computing power to simulate the properties of gold. Bitcoin can be understood as a kind of foreign exchange. This kind of foreign exchange does not correspond to the credit of a country, but the credit of a small group of people. Behind all financial businesses is the analysis, evaluation and transfer of credit, etc. The credit behind Bitcoin is mathematics and computing power. The significance of Bitcoin lies in its reconstruction of the infrastructure of the entire financial system. Bitcoin is a complete decentralized financial payment and settlement system. In addition to the marble halls and counters you see in the entire financial industry, there is also the data behind it, and behind the data is software and hardware. Bitcoin is based on a global distributed mathematics and computing network. Such a system means that it has the most credibility and its cost is the lowest. You can imagine whether it is more efficient for companies using IBM and Oracle or cheaper for companies using a bunch of open source software. Therefore, Bitcoin is a very cutting-edge, efficient and transparent infrastructure system in the infrastructure of the financial industry.

2. Creditor's rights: Supply chain finance: platforms that have the core ability to judge credit risk are the real players in the field of Internet finance.

     The Internet credit system has various forms, including p2p, consumer credit, supply chain finance, and social finance. But whether it is Internet finance or new finance, the essence of the financial industry is the evaluation and control of credit risk. In the long run, platforms that master the core ability of credit risk assessment will be the real players in the field of Internet finance.

     Therefore, supply chain finance is a very important direction.

     Providing financial services to enterprises is very complicated. The business forms, upstream and downstream, cost structures, etc. of various industries are different. Supply chain finance is also a relatively large business in the banking system under the traditional model. Today, with the booming development of e-commerce, supply chain finance has the trend of upgrading and replacement. It cannot be generalized. Each field and each industry has its own characteristics and risk control points. The best and easiest platform is to be decentralized at both ends, that is, the field where both the supply side and the demand side are decentralized. The fields of fresh food and building materials are more in line with this characteristic.

3. Equity: Equity crowdfunding transaction volume is an important indicator, but it cannot be the only indicator.

The investment industry is not a place where quantity wins, but rather a place where expertise wins. It is a big mistake for crowdfunding platforms to regard the amount of financing and transaction volume as their core competitiveness. Today, entrepreneurial activities have entered a peak and boom period, and fundraising activities are relatively active. But what about a few years later? What is the survival rate of these startups?

     Human power is insignificant in the face of cycles. Lei Jun said that we have to be the pigs on the wind. And behind the wind is the cycle. This era is an era of superposition and resonance of various cycles, including technology cycle, innovation cycle, economic cycle, policy cycle, etc. The current period is a booming period for entrepreneurship, but it does not mean that the survival rate and success rate of startups are very high. The transaction volume is an important indicator, but it cannot be the only indicator. If you pull a bunch of junk companies up to raise funds, it will fundamentally dampen the enthusiasm of investors. An excellent equity crowdfunding platform should have professionals to screen and lead the investment projects.

     In addition, the herd effect is very easy to be encountered by practitioners in the crowdfunding industry, and how to design an excellent architecture to solve this problem is what practitioners need to think about.

4. Investment: Secondary market investment will generate a number of innovative companies

   There is a classic saying about investment, "I am speculating in the secondary market, and investing in the primary market." In the end, all the problems are actually just one question, whether there are more buyers or more sellers, so there is also a classic saying, "Stocks are voting machines in the short term and weighing machines in the long term." Therefore, long-term value investment has always been a very effective and evergreen school. But in today's era, many things have changed. In the past, it was difficult to quantify and visualize the user's financial behavior and investment behavior in practice. But in the Internet era, the ubiquitous big data provides us with such possibilities. Abroad, there are companies that do foreign exchange tracking investment, portfolio packaging, and crowdsourcing analysis. In the field of secondary market investment, a group of new innovative companies will emerge, such as the power of crowdsourcing, big data analysis, user portrait generation, and quantitative investment models. There are many innovative points in various fields.