“再过2年一定有央行发行数字货币” | 万向肖风最新演讲

“只有稳定数字货币,或者将来央行发行的法定数字货币才有可能成为真正的基于区块链的货币。”


火星财经(ID:hxcj24h)一线报道,由杭州市人民政府主办的2018区块链新经济杭州峰会11月19日至20日在杭州举办,万向区块链董事长兼总经理肖风发表了《区块链经济》的主题演讲。


精彩观点如下:


1.互联网是信息机器,区块链是事实机器,在某些特定环境下,去中心化的机制可能会高效。


2. 在DApp时代你的全部都是你的,没有中间商赚你的差价,这是互联网和区块链的巨大的不同。


3. 如果说比特币,以太币是数字货币的1.0,那么稳定数字货币可以说是数字货币的2.0。


4. 比特币做为一个全球支付系统这个实验是失败的,但如果把比特币看成一个投资工具和资产类别它是成功的。


以下肖风演讲全文,由火星财经(ID:hxcj24h)整理,未经本人审阅: 


这些年来很多人在问什么是区块链,我想从另外一个角度把区块链和互联网作一个比较,从另外一个角度谈一谈什么叫区块链,中间我再汇报一些我自己的看法。下面从6个方面把互联网和区块链进行比较。



区块链是事实机器

第一个是数据是否可修改。上个世纪互联网刚刚兴起的时候,美国大部分主流媒体向公众描述互联网时,往往会说互联网是信息的机器,互联网让大家互相传递信息成本更低,效率更高、更方便。


区块链的数据结构因为它的一些密码学技术、时间差等等,可以保证一个数据真正上链之后就不可篡改,不可撤消,但是可追踪,因此区块链相比互联网来说是一个事实的机器,一旦记录到区块链之后这个东西就不可抵赖了。为什么法院会很快的接收区块链上的一些法律证据,就是因为不可抵赖性,不可抵消,不可篡改等这样一些特点,所以这是互联网和区块链一个非常大的不同。


在互联网时代不管是什么样的数据库,数据都是可以撤销和改动的,没有任何一个基于互联网的数据库是不可改动的,这是两者非常大的不同。


区块链的信任机制

第二点是互联网和区块链的信任机制有很大区别。这里没有好坏之分,中心化的信任机制和去中心化的信任机制本身没有好和坏、高和低之分。


当数字经济越来越展现在我们面前,我们每个人的数字化生存占的比例越来越高时,可能在某些环境 、某些场景、某些事物中我们可能不再依靠中心化的信任机制确保做一个信任背书,可能用一个去中心化的信任机制更高效、更低成本,这是互联网和区块链最核心的区别。 


我想大家对区块链去中心化机制也有所了解了,依靠算法来构建一个信任,作为一个信任背书。虽然中间想设计一个点对点的中心系统,但是因为现在比特币的价格波动太大,如果一个货币是一个电子现金,显然这个实验是失败的,如果用比特币做一个全球的支付系统这个实验也是失败的。但如果将比特币看成一个数字黄金,是在全球达成共识的,这个共识是用一个信任机制制造一个数字上的稀缺性,做了一个信任背书,这是一个非常重要的特点。 



区块链的开源免费、无须许可和非营利性

第三个互联网和区块链的不同是区块链的开源免费、无须许可和非营利性。作为一个开源软件系统我们没有看到任何一个公共区块链有财务报表,没有收入,也没有股东,没有董事会,也没有管理层,没有员工。


这样一个产权把股权、把权益完全去掉了之后的商业系统,它使得投资者、生产者、开发者、使用者完全合二为一,使得多方的利益相关参与方在区块链上,在一个点对点、信息高度一致,高度透明的环境里,通过算法博弈得到一个最优,实现经济学上一个非常大的难题。所谓的激励相容,这个是以前中心化的商业模式,中心化的信任机制所做不到的,就是区块链给我们带来的独有的东西。


区块链商业应用没有中间商赚差价

第四个不同是在商业应用层面,互联网上面的商业应用是中心化的,区块链上的商业应用是去中心化的,或者我们把它叫做分布式的。一个很好的例子就是,前不久我看一个旅游作家在以太坊上出版了一本讲欧洲深度旅游的书,所有的销售收入是归到这个作家。


腾讯有一家互联网出版集团叫做阅文集团,在阅文这个平台上任何一个作者,如果发表一个东西或者写一本书,这本书别人付费阅读得到的收入,作者能拿到75%左右,互联网平台会拿走25%,但是在区块链上100%都归这个作者,因为没有人需要对使用以太坊或者是比特币区块链付费用。


在纸质书的时代,找一个出版社,编辑印发,通过线下的销售书店销售,那个时候作者拿到多少?是版税的8%,92%是付给渠道出版社,这就是一个App和DApp巨大的不同。在DApp时代你的全部都是你的,没有中间商赚你的差价,这个是互联网和区块链的巨大的不同。


任何颠覆式创新都是基于账户的创新


第五个不同是记帐方法的不同。互联网仍然继承了我们过去500年的记帐方法——所谓的复式记帐法。在1494年前后时间意大利的威尼斯是全球金融中心,复杂的贸易需要复杂的金融支持,复杂的金融支持需要科学的记帐方法。如果没有科学的记帐方法,就无法提供科学的金融支持。威尼斯商人借钱给商家,定了一个契约,如果不能还钱就把胸口的肉给银行家,后来船沉了,企业家破产,所以企业家愿意割肉,但是合约上说只能隔肉不能流血,所以这个是一个喜剧结尾。


中国金融科技全球领先的最核心逻辑在于,在2004年支付宝开始创立时,中国人民银行前行长周小川本人是一个对科技新趋势有非常深刻认识的人,他允许支付宝。支付宝创立的时候实际上是违反了相关法律规定,到今天来说它可能还是属于一个灰色地带,一个科技公司可以自己设立一个互联网钱包,往这个钱包里写钱,往一个账户里写钱只有银行可以干。


所以当时有很大的争议,但是周小川行长说这些新的东西应该允许实验,因此才有了我们两个世界级的现象产品,一个是中国的移动支付,被号称中国的新四大发明;还有一个就是余额宝,余额宝也是一个世界级的产品,目前为止没有一个互联网的渠道可以卖出2万亿的货币基金,这个说明什么呢?


任何的金融创新都是基于我们建立了一套新的账户体系,任何的金融交易都必然在一个账户上面进行,有新的账户体系,就能产生新的金融服务的模式,不管是支付汇兑还是交换。我们传统的银行帐户体系不可能出现现在的移动支付,在传统银行帐户体系上也不可能出现余额宝,只有在新的账户体系上才能出现。互联网账户和支付宝以微信支付为代表的典型支付账户,他们不是银行帐户,他们是互联网公司的一个科技公司在维护这个账户,他们没有持有银行牌照,但是他们在往里洗钱创造货币,同时承担一个清算的业务,这都是因为周小川行长愿意实验,才带来这个体系。


我们现在还无法预测基于区块链账户的体系会出现什么样巨大的世界级的新的金融服务 、金融交易的方式,我相信它一定会出现,就像我们在互联网账户体系里面创立的颠覆式的创新一样,这个是我可以肯定的,但是不知道具体会是什么样的,我们怀着一个乐观积极的态度来观察这个行业的变化。


在这里我想说的是任何颠覆式的创新都是基于账户的创新,没有账户的创新就不会有颠覆式的金融创新。没有账户的创新我们只有在原有的模式上做边际效益的改变,新的技术对我们原有的模式进行边际效应的改善,但是无法在旧的模式下面产生新的模式出来。



最后一点是账户使用到的记帐单位有很大不同。互联网的电子钱包记载的是法定货币,但是在区块链里面记载的是数字货币,数字货币和法币最大的不同其实是代码和代码之间的交换,所以一切才有可能,因为你是计算机程序,体现的是计算机的代码,才能做出点对点的分布式账薄,不再需要中心化的第三方服务就可以完成点对点的交易,在区块链上面完成任何的商业交换或者是金融交易,因为你的货币是可编程的,智能化的。


我们知道数字货币的发展其实到现在为止没有终结,文武博士也讲到,数字货币的发展到今天仍然处于一个变化过程当中。如果说比特币,以太币是数字货币的1.0,那么稳定数字货币可以说是数字货币的2.0。


实际上到今天来看只有稳定数字货币,或者将来央行发行的法定数字货币才有可能成为真正的基于区块链的货币。剩下从比特币开始我们都只能把它叫做资产,加密资产或者是密码学的资产。只有央行,央行现在还没有发,目前市场的稳定货币才能叫法定数字货币,只有一个稳定的数字货币才能用来做支付工具,交易媒介,价值尺度和价值储藏手段,符合这四个东西它就是一个货币


昨天周小川行长也讲,货币有法定的,也有私人机构发行的,稳定数字货币目前这个阶段目前是私人在发行,但是我相信再过两年一定有央行来发行数字货币,两三年之后随着央行加入到数字货币的发行行列,那个时候数字货币的形态才算是基本成型。剩下的稳定数字货币之外其他的,我们现在叫做数字货币的东西都不是数字货币而都是资产,都是可投资的工具,作为资产类别它可以有大幅的波动。


但是作为一个货币,一个好的货币有汇率上的变动,但是绝对不能有大幅的波动,早上起来发现比特币跌了10%,是不可能成为一个好的货币的,但是作为一个投资工具它是成功的,作为一个资产类别它也是成功的。 

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Cardano Price Analysis: ADA/USD Accelerating Losses Below $0.060

Key Highlights

  • ADA price extended losses below the $0.0620 and $0.0600 support levels against the US Dollar (tethered).
  • There was a break below a connecting bullish trend line with support at $0.0614 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
  • The pair is currently trading well below $0.0600 and it could continue to move down in the near term.

Cardano price fell significantly recently against the US Dollar and Bitcoin. ADA/USD is likely to decline further towards the $0.0530 level.

Cardano Price Analysis

In the last analysis, we discussed that cardano price could extend losses below $0.0620 against the US Dollar. The ADA/USD pair did decline recently and traded below the $0.0620 and $0.0600 support levels. There was even a close below the $0.0600 support and the 100 hourly simple moving average. The last swing high was formed near $0.0640 from where the price started a solid decline.

During the drop, there was a break below a connecting bullish trend line with support at $0.0614 on the hourly chart of the ADA/USD pair. More importantly, the price traded below the last swing low of $0.0579. The next support is at $0.0560, which is the 1.236 Fibonacci extension level of the last wave from the $0.0579 low to $0.0649 high. The current price action is super bearish below $0.060. Thus, there are high chances of more losses towards the $0.0535 level. It represents the 1.618 Fibonacci extension level of the last wave from the $0.0579 low to $0.0649 high.

Cardano Price Analysis ADA Chart

The chart indicates that ADA price settled below a few key support at $0.0600 and the 100 hourly SMA. To recover, the price must climb above $0.0600, $0.06200. If buyers fail to gain traction, the price will most likely slide below $0.0550 in the near term.

Hourly MACD – The MACD for ADA/USD is gaining strength in the bearish zone.

Hourly RSI – The RSI for ADA/USD is currently below the 30 level.

Major Support Level – $0.0550

Major Resistance Level – $0.0620

Ripple Remains Strong Up 10% on The Month, Can it Decouple and Catch Bitcoin?

There have been few survivors from last week’s crypto rout which saw almost $30 billion wiped off the markets in a couple of days. Bitcoin for one has taken a beating this time and has settled at a new price range indicating that a recovery could be a long way off. XRP on the other hand has weathered the digital storm and emerged on top, well on top of Ethereum at least.

Solid Performance Over The Past Month

Ripple constantly claims that XRP has nothing to do with the company but the simple fact is that it does. What happens to Ripple will affect XRP, and with over half the supply locked away by the company, it is still holding all of the strings. Positive developments for both the firm and its token have made XRP one of the few cryptocurrencies to make a gain over the past month. It has made over 10% in the last thirty days while Bitcoin and Ethereum have nosedived 14 and 16 percent respectively.

These gains have pushed XRP above $20 billion market capitalization and into second place as Ethereum continues to slide. The crypto twitter-sphere is awash with talk of a ‘flippening’ today as the notion of XRP catching Bitcoin becomes more valid. It still has a long way to go however with a market cap gap of over $75 billion and many observers are commenting in jest.

CNBC’s crypto-trader host Ran NeuNer highlighted that the recent hash wars between Bitcoin Cash clans has done nothing to bolster the crypto ecosystem or its communities;

Other memes have included pictures of the Grim Reaper coming for Bitcoin. Even Craig Wright of the ‘faketoshi’ tribe chimed in tweeting “For XRP not to be a security, it will need to be a real utility offer. IF something is exchanged with expectations of profit, it is not a utility token. XRP is a tradable good that is sold under the expectation of profit. That in itself makes it a security.” If the US SEC agrees with this, XRP hodlers could be dumped en masse.

Decoupling In Motion?

For XRP to truly be propelled though, it needs to be decoupled from Bitcoin which has driven the state of crypto markets since they began. The only way to do this would be for more exchanges to offer trading pairs in XRP in addition to BTC, ETH and stablecoins. Weiss Ratings tweeted that BTC should not dictate the outcome of every single project in the industry;

Binance boss, CZ, meanwhile has also responded, talking about the growing requests for XRP base pairs;

At the time of writing during the Asian trading session XRP was trading at $0.50, down less than a percent on the day, but more significantly Bitcoin and Ethereum were dropping even further.

 

Image from Shutterstock

New Brave SpeedReader Improves on Existing Reader Mode Technology

Brave Technologies, the company behind the tokenized, privacy-focused Brave browser has announced the launch of SpeedReader, a new browser tool intended to make web pages easier to read by removing all non-essential scripts and content from pages before they load. In a post on its official website on November 15, the company revealed that SpeedReader, which is an upgrade on Brave’s existing Reader Mode, delivers significant performance gains, privacy benefits, and wide applicability.

Radical Facelift for Reader Mode

As the Internet has evolved from the early days of Hypertext Markup into today’s multimedia content-rich experience, the performance of browsers, and by extension user experience, has often suffered. So-called “page bloat” is commonplace noways, whereby pages are heavy and expensive to load, as well as laden with distracting advertisements and tracking scripts.

To get around this problem, many major browsers have created a reader mode that allows users to escape the worst effects of page bloat by offering them a stripped-down version of web pages free of videos, sponsored content links and other ubiquitous elements of modern internet existence.

Brave, however, is taking the reader mode concept a further step forward with SpeedReader. Unlike regular reader modes which do not attempt to save loading times and data, but merely serve the user a stripped down web page after loading all elements as normal, SpeedReader goes beyond the aesthetics to load only the essential content on a web page which eliminates tracking script, ads, and sponsored content.

Although Brave, which recently hit ten millions downloads, already blocks ads and trackers, SpeedReader automatically detects which pages are suitable and then loads them to create significant value for users with slow internet connections or limited data packages. According to information released by Brave, SpeedReader’s performance gains include page loading speedups ranging from 20 to 27 faster speeds, bandwidth savings of up to 84 times, and memory reduction of 2.4 times.

Privacy Enhancement

In addition to performance enhancements, SpeedReader also delivers notable privacy improvements such as a total removal of all requests related to ads and tracking. Interestingly, its usefulness extends to about 22 percent of all web pages, a figure that goes up to 31 percent on Twitter and 42 percent on Reddit. SpeedReader’s testing indicated that there were as much as 115 fewer requests to third parties and 64 fewer interactions with trackers on pages where it could be applied.

According to Brave, SpeedReader achieves these ends by applying the tree transduction step prior to document rendering, which forecloses the possibility of any third party requests being initiated. In other words, unlike reader modes which attempt to close the stable door after the horse has already bolted, SpeedReader nips the tracking and ad problem in the bud from the start.

In so doing, SpeedReader succeeds in three major ways. Namely, a reduction in third-party communication, a drastic decrease in the number of fingerprinting scripts executed, and a total eradication of tracking and ad-related requests on web pages visited by users.

KPMG: Cryptocurrency Still Far Away From a Store of Value

When Moon? Not soon according to the talking heads at KPMG. Bitcoin and other cryptocurrencies will require a bit more time before they truly function as a reliable store-of-value.


We Ain’t There Yet, Says KPMG

Whereas in August, KPMG reported that the blockchain industry was maturing and moving beyond experimentation, the latest study authored by KPMG, says Bitcoin and other cryptocurrencies will require a bit more time before they truly function as a reliable store-of-value.

The report, titled Institutionalization of Crypto-assets determined that Bitcoin and other digital assets are not useful as a medium of exchange or store of value due to a lack of trust in digital assets, rampant volatility, and scalability issues.

The report also suggests that cryptocurrency must be reformed by institutionalization in order to thrive in the future and KPMG chief economist Constance Hunter explained that “more participation from the broader financial services ecosystem will help to drive trust and scale for the tokenized economy.”

KPMG believes that large-scale involvement from banks, payments institutions, FinTech companies, and exchanges are exactly what the crypto-sector requires to better integrate into the current global financial system.

Buy the Rumor, Sell the News

At the moment, many analysts and researchers believe that they crypto-market is primarily propelled by speculative investment from small investors who either select startups based on the potential of their technology or simply because they believe that the digital assets with eventually appreciate in value.

KPMG

KPMG does not discount the necessity of retail investors to the sector but also points out that the industry’s failure to comply with existing regulations and the need for a unique set of new regulations that recognize the unique characteristics of digital assets are needed before cryptocurrencies can mainstream and become a real store of value.

Basically, KPMG issued the same guidance that many others suggest, which boils down to crypto startups needing to either adjust their business model to comply with current regulations or do a better job defining and representing their products in the eyes of financial regulators.

Only Time will Tell

Coinbase was also a contributor to the report and added that as the cryptocurrency market matures it will slowly undergo a metamorphosis that transforms the market from a space driven by retail speculators to a place frequented by the world’s premier financial institutions.

Through a bit of shameless self-promotion, Coinbase also dropped a hint that it had already designed and launched the platforms and services that institutional investors require to invest in the crypto-sector.

Fortunately, the KPMG ended the report on a positive note by concluding that the advent and dominance of crypto assets will eventually occur. The authors perceive the current challenges facing the crypto sector as merely transitional growing pains and KPMG suggests that cryptocurrencies will reign supreme once issues like taxation, regulatory compliance, security, financial auditing and liquidity are properly addressed.

Do you think institutional investment is the only way for the cryptocurrency market to escape its current malaise? Share your thoughts in the comments below!


Images courtesy of Shutterstock.

Ripple Price Analysis: XRP/USD Could Gain Momentum Above $0.50

Key Highlights

  • Ripple price is holding gains above the $0.4700 support level against the US dollar.
  • There is a key bullish trend line formed with support at $0.4800 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair is likely to accelerate gains once there is a break above the $0.5000 and $0.5180 levels.

Ripple price is trading in a bullish zone against the US Dollar and Bitcoin. XRP/USD remains well supported on the downside near the $0.4800 level.

Ripple Price Analysis

Recently, there was a decent support base formed near the $0.4500 level in ripple price against the US Dollar. The XRP/USD pair traded higher and broke the $0.4800 and $0.5000 resistance levels. There was even a close above the $0.4800 level and the 100 hourly simple moving average. Buyers pushed the price above the $0.5100 level, which is a positive sign. A high was formed at $0.5183 and later the price started a downside correction.

It declined below $0.5000 and the 23.6% Fib retracement level of the last wave from the $0.5480 low to $0.5183 high. However, there are many supports on the downside near the $0.4820 and $0.4800 levels. More importantly, there is a key bullish trend line formed with support at $0.4800 on the hourly chart of the XRP/USD pair. The trend line support is close to the 100 hourly SMA at $0.4760. Besides, the 61.8% Fib retracement level of the last wave from the $0.5480 low to $0.5183 high is near $0.4810. Therefore, as long as the price is above the $0.4800 support and the 100 hourly SMA, there could be more gains in the near term.

Ripple Price Analysis XRP Chart

Looking at the chart, ripple price must break the $0.5000 and $0.5120 level to start a fresh bullish wave. The next major resistance is at $0.5250 and $0.5275.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is slightly in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is just below the 50 level.

Major Support Level – $0.4800

Major Resistance Level – $0.5120

Ethereum Price Analysis: ETH/USD At Risk Of More Declines

Key Highlights

  • ETH price struggled to move above the $179 resistance and declined against the US Dollar.
  • There is a key connecting bearish trend line formed with resistance at $178 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is currently at a risk of a downside break below the $165 support level.

Ethereum price is under pressure against the US Dollar and bitcoin. ETH/USD is likely to extend declines below $165 and $160 in the near term.

Ethereum Price Analysis

The past few sessions were mostly bearish below $185 in ETH price against the US Dollar. Earlier, the ETH/USD pair recovered a few points from the last low of $165. The price traded above the $175 and $178 resistance levels. It also moved above the 23.6% Fib retracement level of the recent drop from the $205 high to $165 low. However, the upside move was capped by the $179-180 resistance area.

The price declined back below $175, but it later made another attempt to clear $179. However, buyers failed to gain strength above the $179 level and the 100 hourly simple moving average. Besides, there is a key connecting bearish trend line formed with resistance at $178 on the hourly chart of ETH/USD. The pair is currently moving lower and trading below the $170 level. On the downside, an initial support is at $165, below which there could be a solid decline towards the $160 or $158 levels. On the upside, a break above $179 could push the price towards $185. It represents the 50% Fib retracement level of the recent drop from the $205 high to $165 low.

Ethereum Price Analysis ETH Chart

Looking at the chart, ETH price is clearly in a bearish zone below $175 and $179. Sellers may soon gain control below the $165 support level for an extended decline.

Hourly MACDThe MACD is currently gaining pace in the bearish zone.

Hourly RSIThe RSI moved down sharply below the 40 level.

Major Support Level – $165

Major Resistance Level – $179

European Central Bank Executive Dubs Crypto “Evil Spawn” of Financial Crisis

An executive board member of the European Central Bank (ECB), Benoit Coeure, dealt a verbal blow to bitcoin and the infant cryptocurrency industry when he termed the digital currency “a combination of a bubble, a Ponzi scheme, and an environmental disaster,” per a report by Bloomberg, published November 15, 2018.

Bitcoin “Evil Spawn” of Financial Crisis

Speaking at the Bank for International Settlements (BIS) in Basel, the ECB banker called bitcoin a “clever idea” before adding that “not every clever idea is a good idea.” This comes just a few days after the head of International Monetary Fund (IMF), Christine Lagarde, urged central banks the world over to consider issuing digital currencies.

The statement was made keeping in view the steady transition of the world economy to a cashless society. She stated:

“The advantage is clear. Your payment would be immediate, safe, cheap and potentially semi-anonymous. And central banks would retain a sure footing in payments.”

However, the sentiments shared by Coeure regarding the cryptoverse have sparked a few concerns among the already deflated crypto community.

Global crypto markets crashed heavily on November 14, with bitcoin recording a loss in value in excess of 15 percent, ahead of the controversial bitcoin cash hard-fork. The sudden downturn wiped out close to $30 billion from the cryptocurrency industry.

Coeure spoke about the regulations and initiatives the global regulatory bodies are taking to create a favorable and controllable ecosystem for digital currencies. However, he also pointed out bitcoin’s “evil” origins. He added:

“Few remember that Satoshi embedded the genesis block with a Times headline from January 2009 about U.K. banks’ bailout. In more ways than one, bitcoin is the evil spawn of the financial crisis.”

Bitcoin Slammed by Prominent Personalities

Although the cryptocurrency industry looks far from finished, the idea behind it has been continually criticized by some of the most prominent personalities in the financial and economic world.

Nouriel Roubini aka “Dr. Doom,” who successfully predicted the 2008 global financial crisis, recently stated that bitcoin will be worth only $100 in ten years time.

Further, the economist also went on to call blockchain technology nothing more than a “glorified spreadsheet.” At the time, he stated that blockchain is anything but a decentralized technology, and that it is only responsible for creating an economic hell.

The controversial take on the innovatoin sparked tension within the crypto community, as Ethereum co-founder Vitalik Buterin took to Twitter to take a dig at the economist.

7 Facebook, Amazon, Apple, Netflix and Google Staffers That Went Full Crypto

“Follow the talent.”

It’s a maxim investor Chris Burniske tweeted recently to underscore another tweet from AngelList co-founder Naval Ravikant when he wrote back in March: “Blockchains are now sucking in top-tier Silicon Valley tech talent faster than any boom since the Internet.”

Yet, as the first flurries of crypto winter blow, this narrative has hardly cooled.

We heard it echoed again most recently in October when we spoke to Tinder exec and venture investor, Jeff Morris, Jr., who started Chapter One Ventures to back crypto projects he finds exciting. But, who are these professionals leaving good companies to take a chance on the world of crypto?

CoinDesk found seven examples of people who left jobs not just at notable tech companies but at the most notable ones. We found examples of staff from five giants of Web 2.0, the so-called FANGs: Facebook, Amazon, Apple, Netflix and Google.

Each of the people on this list turned their back on the secure life at a tech giant, the most powerful companies in today’s economy, to take a chance on a new sector built on money native to the internet and decentralized data structures.

Facebook

facebook, social

Kahina van Dyke – Ripple

Kahina van Dyke is Ripple’s senior vice president for business and corporate development, and most of her business experience has focused on payments at major companies – not just Facebook. Not only did she spend two-and-a-half years working on payments systems in Menlo Park, but she has prior experience at MasterCard and Citibank.

Van Dyke made the transition in June. On the Ripple blog, she described her reasons for entering the distributed ledger industry. She said:

“There is a reason you have only a handful of major money transfer operators in the world today. Without question, cross-border transactions is one of the most complex and multifaceted problem in payments.”

She said she believes Ripple has the combination of technology and business strategy to eliminate that friction faced by people around the world attempting to move money internationally.

Evgeny Kuzyakov – Near Protocol

With Kuzyakov we actually get a double-dose of FANGs. Prior to his current job he worked at Facebook, and a little before that he worked at Google. He’s now one of the software engineers at Near Protocol, which aims to bring blockchain to low-end devices by taking advantage of sharding.

When he left Facebook, he had been working on video compression for 360-degree videos and virtual reality. Spending time at two different major tech companies, he says, will help secure what Near hopes will be a wide reaching protocol.

He told us:

“I’ve worked on backend infrastructure at Google, so I know how to build distributed systems. I understand security and privacy of large scale projects to make sure users are in the best interest of the overall system.”

Ethereum is still just too complicated and easy to mess up. EOS hasn’t earned people’s trust and everything else is just too immature.

“My industry experience helps understand such issues and hopefully would help avoid them when we design our system,” he said.

Amazon

Leo Chen – Harmony

Chen just left Amazon Web Services (AWS), the Seattle-giant’s cloud service, to start at Harmony, an upcoming consensus platform designed for very high throughput.

After almost four years at the company, Chen told CoinDesk he might have made the move sooner but he had deleted Facebook’s app from his phone. If not for that, he might not have missed an overture from Harmony founder Stephen Tse (himself an Apple and Google alum).

In 2012, Chen bought some bitcoin and turned a good profit on them, but family got ahead of him and he lost track of crypto for a while. Then ethereum piqued his interest again and when he finally did sit down with Tse, it felt right.

“I, myself, am also pretty interested in building the infrastructure and distributed systems. I felt blockchain is the technology I am interested and I can contribute to,” he told CoinDesk.

Basically everyone using the internet is using AWS indirectly. “We provided service to hundreds of thousands of customers on hundreds of thousands of machines. The architecture I learned and the experience I gained can help us build a high-performance and secure blockchain,” he wrote.

Apple

Alok Kothari – Harmony

Harmony gets two spots on this list, with Kothari as one of its engineers and a co-founder. Its team is actually rich in folks with FANG backgrounds, which is something that seems to be true in general: teams with one FANG veteran have several more.

Kothari is a co-founder of Harmony. He left Apple in June after working there nearly three years. A machine learning specialist, he had been working on Apple’s voice assistant, Siri, but he’d long considered starting something on his own.

“It was a perfect storm of a lot of factors. I had been waiting to start my entrepreneurial journey for a while,” he wrote CoinDesk. He met the people who would become his co-founders at a meetup for ex-Googlers (xooglers, as they call themselves).

“I had become convinced that blockchain would transform the world,” he added. “To unleash all the usefulness of the data being created in the world, access to data should be democratized and decentralized.”

If that can be accomplished, he said, “Everyone would benefit, and everyone would win.”

Netflix

netflix

Ryan Lechner – Consensys Labs

Now at Consensys Labs, managing nearly 50 investments the Brooklyn-based ethereum shop has made, Lechner came over from Netflix, where he did sort of the same thing in TV terms. He worked to expand Netflix’s non-fiction content strategy.

“I always considered Netflix the ‘innocent FAANG.’ We took people’s money and created joy,” he told CoinDesk.

Still, his doubts had been forming about the larger business model of Silicon Valley, building moats with carefully guarded data. “There is nothing structurally sustainable about putting virtual walls around data,” he said.

He can remember the moment that it started to come clear that blockchains could build bridges over Silicon Valley’s moats. “I was walking Lake Merritt in Oakland, listening to a podcast in which Nick Szabo and Naval Ravikant talked about the transformative power of blockchain and cryptocurrencies,” he wrote.

He joined Consensys near the end of 2017, relocating to Brooklyn. “I hope that my role at ConsenSys can catalyze a radical shift to decentralized networks and business models,” he wrote.

Google

Alex Feinberg – OKCoin

Feinberg serves as Director of Business Development at the exchange, OKCoin, though he first left Google to join a security startup aimed at blockchain startups called Petram Security. So OKCoin is actually his second crypto role since Google.

Feinberg started at Google in 2011, serving in a number of roles on the business side before leaving in March, working at the time on Google Search and Google Assistant. He worked with major brands (such as the NBA, Bloomberg, NPR) to integrate their content with major search and assistant platforms.

He joined Google because he had a thesis that as long as central banks kept printing money it would have outsize benefits in the more speculative parts of the economy, such as tech. “The move into the crypto space was just a logical extension of this original decision,” he said.

He settled on his decision to move early this year. He was having dinner with a friend in January. His friend had made some major contrarian bets and been wildly successful. Feinberg wrote:

“I thought to myself, ‘The people with whom I share a similar world view outside of Google are doing much better financially than the people with whom I do not at Google, so let’s see where this takes me.’”

Chandan Lodha – CoinTracker

Lodha is co-founder of CoinTracker, an application that can calculate tax obligations on crypto portfolios.

He left Google (or Alphabet’s) X division in mid-2017, where he had been working as a product manager on Project Loon, which aims to connect remote areas to the internet with balloons.

“To be honest, I was initially pretty skeptical of cryptocurrency,” he told us, this despite the fact that he did some work on a bitcoin startup in 2012 and held cryptocurrency for years. As those holdings became more meaningful, they felt less like a hobby.

He had already been working on putting together an idea with a fellow Googler who became his co-founder. Though they started looking at traditional fintech, his own experience in crypto pointed their business in that direction.

He acknowledges that their app isn’t the first to take on tax obligations, but he believes the space still has a ways to go in terms of user experience. He said, “One lesson we have brought from Google that has been really helpful in building CoinTracker is focusing on users to build very simple and intuitive products.”

It’s hard to see whether or not trends like the one shown above will accelerate, because staff could increasingly make similar transitions within companies. For example, Instagram’s head of product recently moved over to a similar role on Facebook’s blockchain efforts, according to LinkedIn.

Similarly, former Coinbase board member and head of Facebook’s messaging products, David Marcus, is also all blockchain all the time in Menlo Park, as well.

“You’re taking your all-stars and moving them to the blockchain initiatives in your company,” Morris observed to CoinDesk in an interview. “A lot of that has to be employee-driven.”

Collage of Shutterstock photos by (clockwise from top left) JHVE Photo, Jejim, R. Classen, Uladzik Kryhin and SeaRick1

Bitcoin Cash Price Analysis: BCH/USD Could Crash Below $300

Key Points

  • Bitcoin cash ABC seems to be a winner and it is currently trading below $300 against the US Dollar.
  • There is a major bearish trend line formed with resistance at $335 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair is currently at a risk of a major downside break below $300 in the near term.

Bitcoin cash price is trading near $300 on Kraken against the US Dollar. BCHABC is likely to retain BCH ticker and it is currently trading below $300 on Binance.

Bitcoin Cash Price Analysis

The past few days were very bearish for bitcoin cash price as its price declined below $400 against the US Dollar. The BCH/USD pair faced heavy selling interest and the recent fork drama added to selling pressure below $400. The price declined below the $350 and $320 levels as well. The recent low was formed at $300 before there was a minor correction. Buyers pushed the price above $330 level.

There was also a break above the 23.6% Fib retracement level of the last decline from the $450 swing high to $300 low. However, the upside move was capped by the $375 resistance. More importantly, there is a major bearish trend line formed with resistance at $335 on the hourly chart of the BCH/USD pair. The pair was also rejected near the 50% Fib retracement level of the last decline from the $450 swing high to $300 low. Besides, the 100 hourly simple moving average is also around the trend line and $340.

Bitcoin Cash Price Analysis BCH Chart

Looking at the chart, BCH price remains at a risk of more losses below $300. If BCHABC retain the BCH ticker, the price is likely to slide below $275 in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is currently placed in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is well below the 50 level.

Major Support Level – $300

Major Resistance Level – $335