Live on Big Data Expo | Zhao Hejuan: There are some unsolved problems rather than bubbles in the blockchain industry

tmtpost

tmtpost

· 2018.05.30

On the one hand, it concerns what we mean by bubbles. On the other hand, rather than call it a bubble, it’s more accurate to say that there are some problems.

(Chinese Version)

ChainDD reports that on May 26, during the "Summit Dialogue" section at the site of the "Blockchain" high-level dialogue of the Big Data Expo, Zhao Hejuan, Founder of ChainDD app stated that, "we have been watching and witnessing the development of blockchain over the years, including that of the earliest bitcoins." The host asked for her view on whether there were bubbles in the blockchain industry. She said that the issue should be discussed from two aspects.

"On the one hand, it concerns what we mean by bubbles. Normally when we talk about a bubble, we either refer to a supply and demand bubble, or a capital bubble. If supply exceeds demand, or if capital investment is imbalanced, there is a capital bubble. However, when supply doesn’t exceed demand at all in the industry and capital hasn’t completely flowed in yet, we can hardly call it a bubble. There is still so much demand that we haven’t tapped into and on the supply side, new technologies are not yet mature. Besides, the environment and the whole ecosystem haven’t reached maturity.

On the other hand, rather than call it a bubble, it’s more accurate to say that there are some problems. On the information platform of our ChainDD App, there are reports on a large amount of air coins and also a large number of stories of organizers who have absconded with investors’ money. However, I think that it is impossible for emerging technologies to totally avoid such problems. At its inception, the internet was used for pornography, gambling and drug dealing. The early stock market bubbles such as the NASDAQ tech bubble in the 1980s also incurred losses of the investors. What is happening is actually what the industry has to go through to reach maturity. I think it will be fine as long as we face up to the problems."

ChainDD, as one of the important organizers of the blockchain section of the Big Data Expo, will continue to provide the latest news coverage of the Expo for the whole three days.

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The article is edited by @Yi LIU (Email: yiliu@tmtpost.com;  Mobile/WeChat: +86 13911703028). The Chinese version article is published with authorization from the author @TMTpost, please note source and hyperlink when reproduce.

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