2019-2020 Cryptocurrency Market Annual Report | Chapter 3: Rapid Increase of DeFi, A New Arena for Traditional Giants (II)

ChainDD
ChainDD

Mar 16

摘要: ChainDD Thinktank comes to the following conclusions after analyzing international players’ move in 2019: Japanese and South Korean companies are very proactive; Financial and IT giants in the US are more willing to embrace this new technology; European companies have more options in supply chain and right authentication.

Value locked into De.Fi near USD 1 billion

De.Fi can be understood as a category of FinTech. However, FinTech centers around traditional financial models with improvement while De.Fi relies less on existing system and credits with more advantages in realizing international fund flows. So far, application and services that combines smart contracts and blockchain are part of De.Fi.

Since 2019, DeFi-related projects had drawn much attention for two reasons—brand new experiences brought by decentralized finance and the huge amount of fund flows generated by this kind of projects. At present, DeFi in the market can be classified as loans, stable coins, exchange, deviants and payment methods all of which are very promising......

Read More: 2019-2020 Cryptocurrency Market Annual Report | Chapter 3: Rapid Increase of DeFi, A New Arena for Traditional Giants (I)

Traditional giants join the fierce competition

1. A-share companies in China

During the 18th group study session of the CPC politburo, it was stressed that blockchain would be an important core technological innovation in our country and therefore it is necessary to have a clear direction and invest great efforts in core technological advancement to accelerate blockchain and industrial innovation development.

Both the academic and business circles agree that this will be an assurance for blockchain research and application in China. Listed companies with abundant capital, outstanding technologies and rich ecosystems will become leaders in this new round of technological development and application. There are 506 companies included in Cyberspace Administration of China (CAC)’s blockchain service information list and approval number, such as Baidu, Huawei, Alibaba, JD.com and Tencent. It is noticeable that many companies of A-share list and of three new board, companies listed in Hong Kong or overseas stock market are also on the information list. According to Choice, there had been 197 blockchain-related stocks in A-share market by 2 December 2020.

We analyzed the above-mentioned document and found that 46 listed companies on the list are involved with A-share market. Technological application is mostly used in underlying platforms, public welfare, finance and trade, supply-chain finance, ID authentication and IP licenses.  

We found in the Choice statistics that there are 153 A-share listed companies including companies on the document list or those have publicly stated that they are involved in blockchain. Geographically, 41 of them are in Guangdong, 33 in Beijing, and 14 in Zhejiang, the rest are mainly in Jiangsu, Fujian, and Shanghai.

People's Daily is one of the earliest SOEs that developed blockchain business. One year ago, the state-own media officially established its blockchain channel, which initially formed a "Four in One" business structure that includes content, scientific research, training, and capital. Since then, it has also been responsible for promoting information about blockchain and the important task of the healthy development of the industry.

In last July, People's Daily and WeBank launched a joint platform named People’s Copyright. This platform builds a news copyright alliance chain based on the underlying technology of the FISCO BCOS blockchain to realize online procedures and automation of digital copyright identification, detection, infringement proof and litigation.

From the disclosed list of companies, blockchain has been applied in finance, cloud computing, energy, copyright and proof storage.

Hundsun Electronics, FORMS SYNTRON and other companies have actively explored in the financial field. In 2017, Hundsun made efforts in the Fintech industry and invested in Symbiont (a company dedicated to blockchain) through its subsidiary holding company to own an innovative financial alliance blockchain platform HSL.  

FORMS SYNTRON signed a collaboration agreement with IBM Hong Kong to promote usage of blockchain in Hong Kong and the banking industry during 2017. Meanwhile, FORMS SYNTRON announced success of MVP, its first joint blockchain application project with IBM Hong Kong. This project aimed to apply blockchain technology in banking and insurance sectors.

In addition, BGI and Lexin Medical had some layouts in the field of medical and health while y, Visual China, Annie and Kodak were actively exploring the field of intellectual propert.

Cloud computing is a market of great potential. With blockchain, Cloud computing can use idle computing resources to participate in market operations to generate social value, which is likely to form a new business model and a new generation of Internet infrastructure. At present, Sinnet, Meili Cloud, AtHub, Wangsu, and Baosight are all involved in this field.

Similar trends are seen in blockchain related to energy industry. The openness, sharing and coordination advantages of blockchain are matching the basic features of energy Internet. A new energy revolution is likely to be boost by blockchain to form a new trade model in the energy industry.  

It is worth noting that YGSoft is the only listed company under the e-commerce platform of State Grid corporation of China with a clear strategic position within their system. Guohai Securities wrote in its report, "We expect that YGSoft will be one of the main technologies of the State Grid blockchain and will deeply benefit from the domestic energy-related blockchain construction."

2. International premium players

JPM Coin with JPMorgan has attracted most attention following Facebook’s Libra project.

JPMorgan disclosed details about their important move in international settle on JPMorgan Chase 2019 Investor Day. JPM Coin, based on DLT technology, is designed to make instantaneous payments using blockchain technology. According to latest news, clients from Europe, US, Japan and some other regions have expressed interests in JPM Coin.

ChainDD Thinktank comes to the following conclusions after analyzing international players’ move in 2019:

  • Japanese and South Korean companies are very proactive;
  • Financial and IT giants in the US are more willing to embrace this new technology;
  • European companies have more options in supply chain and right authentication.

Apart from technological, investing and financial institutions, traditional players such as Starbucks, Walmart, LVMH and William Grant & Sons are giving a go in blockchain in 2019.

This shows blockchain applications have covered an increasingly larger field and have been accepted by more people and the market, which is a proof of blockchain consensus improvement and expansion. Blockchain already enters the stage of high-speed development with more investment and companies. The acceleration of blockchain application in practice will help boost quality development of traditional industry and fasten its transformation.

Moreover, blockchain has become a new normal and part of economic development engine. It will fuel the next round of business model reform and will serve as an important foundation for social credit system.

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