Sep 8, 2019

4 min read

Hyperview Round-table Forum: What status will traditional coin industry be as Central Bank and giant Internet companies marching into this industry?

On Sept 4th , 2019, Hyperview Round-table Forum undertaken strategically by CollinStar, CoinW and Hyperpay was held as scheduled. Five higher-ups have been invited to join this forum, and they were Alex, the CSO of CoinW, Niu Yiming, the CMO of MFCC, Eric, the CEO of HyperPay, Li Anlin, Chinese famous writer of finance and economics, and Ran Xiaobo, the co-sponsor of NLLS.

Five higher-ups have shared their views on three subjects in this round-table forum.

The first question is “ 2 years from full-round abandon to Central Bank join to list coin, why the change is so big?”

Li regarded Sept 4th of 2017 as the turning point, and since that, the development of blockchain was unstoppable for it met the need of future financial technology innovation. The blockchain and crypto have already entered to a new era, and the fact that Central Bank issuing crypto meant a big step to Chinese and global finance.

Ran suggested that there were two reasons that Central Bank issuing its own Crypto. The first was that the release of Libra whitepaper caused great concern of Central Bank, and the second was it tried to use this action to solve some commercial disputes and changed the Dollar’s domination.

Alex agreed with Ran at some point. He thought the launch of Libra pushed Central Bank to take this action, because the launch will definitely impact the sovereign currency of some small and medium-sized countries in the third world and some countries without foreign exchange resistance.

Niu held the opinion that Central Bank was aiming at promoting the internationalization of the RMB in order to compete with Libra. However, it didn’t mean that the green lights were turned on for blockchain industry, so investors and participants had to stay rational.

Eric also thought Central Bank was aiming at promoting the internationalization of the RMB, and also protect the sovereignty of its currency and its determined legal status, for there being so many stresses from Facebook, Morgan, Goldman for they starting to develop their own digital currencies.

The second question is :” when will the Big Outbreak come?”

Li said that there was a big opportunity to realize the outbreak as long as the three weaknesses of this industry were changed, the users scale of the industry, the technology for solving market questions and users pain points, and regulatory policy perfection.

Ran believed that the next bull-market was the key to the big outbreak, for they had more experienced team and better products.

Niu thought the big outbreak could only appear when some fancy products were created by the industry’s founders or some giants joined in.

Alex thought the big outbreak relied on that the door of some international policies and sovereign states could open wider for this industry.

Eric said the popularization of DApp and the upgrades of blockchain technology could help the realization of the big outbreak. HyperPay to release the hardware wallet on Sept 11 showed the a great promotion of blockchain technology.

The third question is “is it a blessing or a curse for the industry as the mainstream institutions enter into here?”

Li pointed out that it was absolutely a good thing. Its join brought more energy and explorations to this industry.

There was advantages and disadvantages, as Ran said. The competition between the traditional and the mainstream could provide more disciplines to the industry and more stresses as well. But he thought the mainstream couldn’t put themselves into coin holders shoes.

Niu did hold a positive attitude towards this. On the one hand, more attention would be drawn to the industry to push them to make more efforts, and on the other hand, push them to think and find a better solution.

Alex also stay positive, for the mainstream’s join could always help the perfection of relative laws and policies which was what this industry needed now. And he also pointed that the industry also needed innovations and promotions to go further. The new model had shown up in so many ways, as the CoinW was going to launch an exclusive brand new promotion, rewarding the community users when they deposited to help the project party to log in its website.

Eric claimed there were still a lot of spaces for competition and new ideas in this playground, and the playground could expand to accomodate more changes. The listing by the mainstream was essentially a digital replacement of print currency, which wouldn’t do any harm to the blockchain industry.

In conclusion, this forum not only shared professional and different opinions to participants and founders, but also opened new sights to the industry. This forum was a success with 28300 participants, 260 presses, 38 community co-founders and 66 WeChat communities joining together, and next time the HyperView “The Question and the Answer” is going to present more controvertial and hot topics. Stay tuned!

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