The retreat also delivers a victory for President Vladimir Putin as he is about to be re-elected.

Ukraine's President Volodymyr Zelenskyy said the withdrawal was necessary to spare soldiers’ lives.

“We are just waiting for more weapons," Zelenskyy said in Munich, Germany, during a high-profile security conference. "We don’t have long-range weapons so our main weapon today is our soldiers, our people.”

He added that with more air defense systems and long-range weapons, his military could face Russia’s in a fairer fight.

Military observers and U.S. officials have warned that a delay in new military aid from Washington, which has been stalled in Congress amid Republican opposition since the fall, was endangering Kyiv’s positions in Avdiivka and elsewhere along the 600-mile frontline.

Zelenskyy declined to weigh in on the funding fight in the U.S. Congress.

Avdiivka marks the most high-profile retreat for Kyiv’s forces since Russia’s capture of another eastern city of Bakhmut, just 30 miles north of Avdiivka, last May. Although the town doesn’t hold great strategic significance, its seizure could add to the mounting pressure on Kyiv to hold its positions amid faltering Western aid and critical ammunition shortages.

It’s also the first major retreat under Col. Gen. Oleksandr Syrskyi, who was named Ukraine’s new commander-in-chief a week ago. Syrskyi was brought in by Zelenskyy in hopes of a “different approach” and to turn things around on the battlefield.

"We are taking measures to stabilize the situation and maintain our positions," Syrskyi said in announcing the withdrawal. He also vowed to return.

Ahead of the retreat, Syrskyi’s forces tried to dig in. The country’s military said it was bringing in battle-hardened reinforcements and more ammunition.

On Monday, PC maker Dell announced a new generative AI solution with NVIDIA to help customers build generative AI (GenAI) models locally, quickly and securely.

The new Dell Generative AI solution extends the company's Project Helix, first announced in May, which involved deep integration with NVIDIA across IT infrastructure, PCs, and professional services, with full-stack GenAI with Large Language Models (LLMs) to meet the requirements of organizations no matter where they are in the GenAI development pipeline.

Dell is fully invested in generative AI, and the new solution gives customers access to large language models and the ability to create generative AI projects. Dell will provide new hardware setups, managed services platforms and computers to run the generative AI projects created by customers faster.

Dell is known for releasing laptops and monitors, but the company also makes server racks and other enterprise hardware. While the AI race is more of a battle between LLM developers such as Meta, OpenAI and Google, another group of tech companies are looking at ways to make money with the technology.

Today, every company, from hardware providers to cloud providers, believes they need to offer AI services to keep up with customers wanting to add more AI capabilities to their business.

In a recent Dell survey of global decision makers, 91 percent of respondents said they are already using generative AI in some way in their lives, and 71 percent said they are using it for work purposes, Varun Chhabra, senior vice president of Dell's Infrastructure Solutions Group (ISG), said in a press release.

Chhabra said:

"In our conversations with customers, it's clear that organizations of all sizes, verticals and regions face a unique sense of urgency when it comes to adopting and applying generative AI to empower their businesses." Dell is following the lead of companies like Amazon by offering managed services platforms and faster infrastructure hardware for companies looking to experiment with AI. Even consulting firms like Accenture are aiming to offer generative AI services to their clients.

On the infrastructure side, Dell has partnered with NVIDIA to combine NVIDIA's Tensor Core GPUs with Dell's enterprise AI software and data storage so companies can run AI models faster. Dell will release new computers with built-in AI capabilities, which will reportedly be small, energy-efficient computers.

Dell also announced Dell Professional Services, a managed services platform that will help users start experimenting with generative AI models and solve problems once integrated into their business.

Chhabra said:

"With Dell's inference-focused generative AI validation designs with NVIDIA, customers can start with a pre-built foundation without having to invest time and money in trying to do it themselves, testing different infrastructures, and understanding what configurations they need to use, which really cuts down on their time to market."

Everyone is talking about these new AI technologies - like ChatGPT - and AI companies are touting their power. But they don't mention how that power comes from all of us. Without all of our words and photos for AI companies to use to train their models, they wouldn't have anything to sell. Big tech companies are taking advantage of the labor of the American people and pocketing this revenue without our knowledge, consent or authorization.

Your data powers today's artificial intelligence, so you deserve a profit, and we have the means to make it happen. We call it "the AI Dividend".

Our proposal is simple and reminiscent of the Alaska Initiative, where large technology companies pay a small licensing fee per word or pixel-related unit of data when they produce output from generative AI trained on public data. These fees go into an AI dividend fund. Every few months, the Department of Commerce would distribute the fund equally to every resident in the country.

There is no reason to make things more complicated. Generative AI requires a wide variety of data, which means all of us are valuable - not just those who are professional, prolific or good writers. The task of figuring out which people contribute to the text output of an AI is both challenging and invasive, because even the companies themselves don't quite know how their models work. Paying bonuses in proportion to the words or images people create only incentivizes them to create endless amounts of nonsense, or worse, to use AI to create that nonsense. The bottom line for big tech companies is that if their AI models are created with public data, they have to pay into the fund. If you're American, you get paid from the fund.

Under the plan, hobbyists and small U.S. businesses would be exempt from the fee. Only large technology companies - those with substantial revenues - would have to pay into the fund. They would have to pay when generative AI output is available, such as from ChatGPT, Bing, Bard, or when used embedded in third-party services through application programming interfaces.

Our proposal also includes a compulsory licensing program. By agreeing to pay into this fund, AI companies would receive a license that would allow them to use public data when training their AI. Of course, this would not replace normal copyright law. If a model starts producing copyrighted material that goes beyond fair use, that's a different issue.

Using today's numbers, the situation is that licensing fees may be minimal, starting at $0.001 per word generated by the AI. Similar fees would apply to other categories of generative AI output, such as images. That's not much, but it adds up. Since most large tech companies are already integrating generative AI into their products, these fees will mean dividends of several hundred dollars per person per year.

The idea of paying for data is not new, and some companies have already tried to do so for users who voluntarily participate. The idea of the public being rewarded for using its resources predates Alaska's oil fund. But generative AI is different: it uses all of our data whether we like it or not, it's everywhere, and it can be very valuable. It would cost big tech companies a fortune to create a synthetic equivalent of our data from scratch, and the synthetic data would almost certainly lead to worse output. Without us, they can't create good artificial intelligence.

Our plan would apply to generative AI used in the US. It also pays dividends only to Americans. Other countries could create their own versions and charge similar fees for AI used within their borders. Just as U.S. companies charge VAT for services sold in Europe, each country can manage their AI policies independently.

Don't get us wrong; this is not an attempt to stifle this emerging technology. Generative AI has interesting, valuable and perhaps even transformative uses, and this policy is consistent with the future. Even with the cost of the AI dividend, generative AI is cheap, and it will only get cheaper as the technology advances. AI also poses risks - both day-to-day and deep - and governments may need to develop policies to remedy any damage that emerges.

Our plan won't ensure that the development of AI has no negative impacts, but it will ensure that all Americans share in the benefits - especially because this new technology would not be possible without our contributions.

Hot News:

Chinese Online and 26 Other Organizations Jointly Release the Industry's First AIGC Data Copyright Initiative According to a report by Caixin on June 7, the China Copyright Association hosted the 54th Cultural Seminar "Seminar on Copyright of Artificial Intelligence Generated Content" at Yuanjifang. In this event, 26 organizations including Chinese Online, Tongfang Knowledge Network and China Workers Publishing House jointly released the first domestic initiative on AIGC training data copyright. As the first AIGC data copyright initiative in the industry, its greatest value lies in two points: first, it awakens domestic AI enterprises' awareness of the copyright of large model training data; second, it provides directional guidelines for AIGC developers to avoid copyright disputes.

2023 World AI Conference Theme and Main Vision Released Microsoft, Google, Nvidia, OpenAI and others will participate in the conference The World AI Conference 2023 will be held in Shanghai from July 6-8, with the theme of "Connecting the World to Generate the Future". It is expected that more than 1,400 domestic and foreign experts will attend the conference, including Turing Award winners, Nobel Prize winners, representatives of international organizations, foreign academicians, entrepreneurs/CEO's from home and abroad, and so on. The conference will focus on ten major topics such as Big Model, AI for Science, General Intelligence, Arithmetic, Metaverse, and Talent. The widely known domestic big model products will be on the stage, meanwhile, the big model teams of leading international companies will make a heavy appearance. This year, dozens of international organizations, international academic circle tops and foreign companies will be attracted to participate, including Microsoft, Google, Intel, Nvidia, OpenAI, etc. Up to now, more than 30 new products have been confirmed for debut and premiere, covering big models, chips, robots, intelligent driving and other fields. Tens of billions of purchasing demands will be released on site, providing exhibitors with an accurate docking platform for business cooperation. (Cai Lian News)

OpenAI CEO says no plan to go public Sam Altman, co-founder and CEO of U.S. tech company OpenAI, said he has no plans to go public given the company's strange structure, Caixin reported on Tuesday (June 6) local time.

OpenAI is one of the world's hottest unicorns with its phenomenal chatbot ChatGPT, and whether and when the company will go public is a natural concern for capital markets. Speaking at a conference in Abu Dhabi on Tuesday, Altman said, "When we develop superintelligence, we may make some decisions that would be very strange to most investors." When asked if he would take OpenAI public, Altman replied, "I don't want to be sued by the public markets and Wall Street and so on, so (the answer is) no, not that interested."

PayPal Survey: Meta-Universe's Current Focus Is Gaming, Total Meta-Universe Spending Expected to Reach $72.6 Billion Next Year PayPal has released the results of a survey titled "Metaverse and Money," which shows that the current focus of the metaverse is gaming. Meta-universe users have higher adoption rates for cryptocurrency, NFT, DeFi and VR, with 80 percent of meta-universe users using cryptocurrency, 50 percent owning NFT and 23 percent using DeFi products. Of these, the most used cryptocurrency by metaverse users is Bitcoin, followed by Ether. PayPal says it expects total metaverse spending to reach $72.6 billion next year and an average of $92.7 billion per year over the next five years.

Apple CEO Cook: Vision Pro is the most advanced electronic device, is closely watching ChatGPT Apple CEO Tim Cook said in a media interview that while Apple has clearly integrated artificial intelligence into its products, the general public may not necessarily consider these features to be artificial intelligence, adding that Apple is paying close attention to ChatGPT, according to a June 7 report by Caixin. Cook noted that chatbots powered by large language models, such as OpenAI's ChatGPT and Google's Bard, show "great promise," but also have the potential for bias, misinformation and other issues that could lead to worse problems in some cases. Cook also said that the newly released Vision Pro headset is the most advanced electronic device available, and that the product marks a turning point for Apple.

Shangtang and Shanghai AI Lab Release "Shusheng Panyu" Big Model According to Shang Tang Technology, Shang Tang Technology and Shanghai AI Lab, together with Chinese University of Hong Kong, Fudan University and Shanghai Jiao Tong University, recently released the 100 billion parameter large language model "Shu Sheng Pu Language" (InternLM). With 104 billion parameters, "Shusheng-Pu Language" is trained on a multilingual high-quality dataset containing 1.6 trillion tokens. The comprehensive evaluation results show that "Shusheng-Puranyu" not only excels in multiple test tasks such as knowledge mastery, reading comprehension, mathematical reasoning, and multilingual translation, but also has strong comprehensive ability, which makes it outstanding in comprehensive exams and achieves better results than ChatGPT in many Chinese exams, including The data set for each subject in the Chinese college entrance exam.

Google Cloud Launches Generative Al, a Free AI Education Course that Gives Users Skill Badges for Completing Tasks Google Cloud recently announced the launch of Generative Al, a free online education course designed to teach the fundamentals of generative AI systems, from the basics of large language models to how to create and deploy generative AI solutions on Google Cloud. Users can earn the Generative AI Explorer-Vertex AI badge for completing learning tasks.

Instagram working on AI chatbots with 30 different personalities, sources say Mobile developer Alessandro Paluzzi tweeted yesterday that Instagram appears to be working on an AI chatbot that can answer questions, offer help, and assist in composing messages, and that he is able to predict the platform's feature expansion in time because he regularly decompiles Instagram's code, according to IT House on June 7. Paluzzi says the chatbot offers 30 different personality traits for users to choose from, meaning they can "find their favorite way to chat.

Singapore Deputy PM: AI Will Disrupt Labor Market, But Won't Cause Jobs to Disappear Singapore's Deputy Prime Minister and Finance Minister Huang Zhuan Cai said new technologies, including artificial intelligence, will disrupt the labor market but not eliminate jobs altogether, NetEase reported on June 7.

He said at the Asia Tech x Singapore Summit on Tuesday that science and technology can actually improve human productivity and create more jobs. He added that regulators need to provide "comprehensive support" in terms of matching jobs with people and skills training. "This needs to be coordinated and proactive by the government, industry and skills training institutions," Wong said. Wong said Singapore launched AI Verify, the world's first testing toolkit, to help companies objectively assess and verify whether AI products are responsible and compliant with international principles. Singapore will continue to work with the AI industry on pilot projects and promote the development of AI testing standards.

Investment and Financing:

AI Digital Human Service Provider FOCO Receives Tens of Millions of Yuan in Angel Round Financing, Exclusive Lead by Innovation Works According to a report by Science and Technology Board Daily on June 7, FOCO, an AI digital human solution provider, recently completed an angel round of financing of tens of millions of RMB, led exclusively by Innovation Works. The financing will be mainly used for the construction of the technical team and the research and development of the underlying technology.

Meta-universe recommends reading:

Rethinking the Big Domestic Model: If the Bubble is Inevitable, How Should We Face the Revolution? Recently, Roger McNamee, an early Facebook investor, criticized on CNBC that people's mania for AI is "forgetting the pain of the past tech bubble". Similarly, in China, some cool-headed people are showing their concern in the face of the increasing number of big models. "With so many big models, how many of them really have their own technology?" "How many companies can sustain the investment?

https://www.8btc.com/article/6821130

'a16z Founding Partner: Why AI Will Save the World' MARC ANDREESSEN, founding partner of a16z, believes that AI offers the opportunity to enhance human intelligence and enable us to achieve better results in all areas. Everyone can have an AI mentor, assistant or partner to help us maximize our potential. ai can also drive economic growth, scientific breakthroughs and artistic creation, improve decision-making and reduce casualties in war. However, there are risks associated with the development of AI, and the current moral panic may exaggerate the problem, with some actors possibly acting in their own self-interest.

https://www.8btc.com/article/6821178

The Apple Headset, Savior or Meteor In the past two years, the XR (extended reality, including AR, VR, MR) industry has experienced a round of ups and downs influenced by the concept of "metaverse". Microsoft, Meta (formerly Facebook), Tencent, Byte Jump and other major Chinese and foreign technology companies have entered the game, building XR teams, developing hardware and software, and then collectively adjusting and retrenching their business at the beginning of this year. The industry's new display and interaction technology component yields and mass production times are still uncertain, and major technical challenges still need to be overcome; however, the release of Vision Pro is a positive signal for industry-wide hardware R&D, content ecology upgrades and new technology development in the industry chain.

https://www.8btc.com/article/6821184

AI's big battle with college entrance exam essays! The test of ChatGPT, Wenxin Yiyin, Tongyi Qianqian and other 8 "magic tools". We have always heard that AI has taken the bar exam and fought against high school math problems, but this time, we let AI write the college entrance exam essay to see how good it is. In this article, we tested the performance of ChatGPT, Microsoft New Bing, Baidu "Wenxin Yiyin", Ali "Tongyi Qianqiu", Kunlun Wanwei "Tian Gong", Nail Slash "/", KU Xunfei "Xunfei Starfire" and 360 Smart Brain, which challenged the essay questions in the National A paper.

Industry News:

Global University Blockchain Capability Ranking: NUS First, Tsinghua Eighth

Korean Journalists Association and Partners with PUBLISH to Improve News Media Ecosystem with Blockchain Technology

Ripple Partners with Qatar National Bank to Launch New Remittance Service for It

Policy-related:

State Council: It is recommended to explore the Internet and blockchain and other technologies to shorten the promissory period

Hainan encourages the establishment of service platforms through blockchain into the government platform

National Health Insurance Bureau: deepen the application of blockchain and other technologies in macro decision analysis, medical e-bills and other work

Shandong Province encourages the use of blockchain energy and other new technology innovation data sharing model

Uruguay's central bank to develop a "work plan" to regulate digital assets

Jiangsu Provincial Communications Authority to comprehensively investigate virtual currency "mining" behavior

Tianjin city to promote the development of intelligent manufacturing regulations: to promote enterprises in the manufacturing process of deep application of blockchain technology

National Development and Reform Commission to include virtual currency "mining" activities in the negative market access list elimination category

Technology Innovation:

Germany's Auto1 FinTech Launches Europe's First Blockchain Auto Financing Smart Contract

Interac Receives Exclusive Rights to SecureKey Blockchain ID Technology in Canada

Tencent Applies for Patent on "Loan Qualification Determination Method" to Determine Institutional Qualifications with Blockchain Technology

Investment and Financing Status:

Colombian Fintech Company Movii Closes $15 Million Series B Funding Round Led by Square and Hard Yaka

Early-stage venture capital firm NFX launches $450 million fund to back startups in crypto, fintech and other sectors

Facebook launches $10 million creator fund for its VR platform Horizon Worlds

Industry Applications:

Microsoft to Launch "Decentralized" Digital Identity System Based on Blockchain Technology

McDonald's China Launches First NFT Creative Work "Giant Magic Cube"

Special Focus: Digital Currency

Georgia's central bank to test central bank digital currency next year

Hong Kong Monetary Authority Releases White Paper on e-HKD Technology

Nigeria's Federal High Court approves launch of central bank's digital currency eNaira

New Zealand's central bank is considering issuing a central bank digital currency and is currently soliciting public comments

Venezuela Launches Digital Bolivar, a Digital Currency

Shaanxi Province's First Digital RMB Financial Subsidy Funds Issued, Totaling About $5.62 Million

Gyro Review

On the policy front, this week coincides with the National Day holiday, and the policy has been relatively reduced. It is worth noting that the thirtieth meeting of the Standing Committee of the 13th National People's Congress of Shandong Province recently considered and adopted the "Regulations on the Promotion of Big Data Development in Shandong Province", which will come into effect from January 1, 2022. In fact, Shandong Province, a vast area, data industry development is prominent, the industry chain is complete, with the natural advantages of the development of big data industry, as early as 2016, Shandong Province issued the "People's Government on the promotion of big data development," requiring the vigorous development of big data industry, strengthen the support of big data on government governance, economic transformation, social services. The introduction of the big data development regulations, for data infrastructure, data resources, development and application, security protection, promotion measures, legal responsibility for the clear provisions of the scope of public data and non-public data, the preparation of data catalogs and data collection, aggregation, governance, sharing and open specific requirements; data collection to delineate the "no-go area "This further enhances the level of legalization of the development of big data in Shandong and lays a solid institutional foundation for the standardization of the data industry.

On the industry side, this week Coinbase introduced the global university blockchain capability ranking, in which Asia (including Oceania) led with an average score of 63, with National University of Singapore ranking first and Tsinghua University ranking eighth. In fact, as the importance of blockchain technology continues to rise, the construction of blockchain talents is also on the agenda. At present, looking at China, 36 colleges and universities across the country offer blockchain credit courses or labs, especially in 2018, 12 blockchain courses and 15 blockchain labs were centrally launched in this year, but most blockchain courses are still mainly elective courses, and blockchain only gradually receives attention in the form of major courses in 2020, such as Chengdu University of Information Engineering and Renmin University of China both officially enrolled in blockchain in 2020. For example, Chengdu University of Information Engineering and Renmin University of China both officially enroll blockchain majors in 2020. From the recruitment market, as of November 2020, according to the data of Zero2IPO, about 50% of the enterprises recruiting education start with bachelor degree, the positions are mainly development and sales, and the average salary is 24,700 yuan/month, among which, the technical management class, i.e. compound talents, are hotly sought. In terms of recruitment companies, after 2020, a change in the recruitment market dominated by small enterprises, Tencent, Baidu and Ali and other traditional giants have begun to join the war to grab people.

On the digital currency front, the Monetary Authority of Hong Kong, China released a technical white paper on e-HKD on October 4. The white paper explores potential technical solutions for issuing and distributing retail-level central bank digital currencies based on the retail-level central bank digital currency model jointly studied by the HKMA and the Hong Kong Centre under the Bank for International Settlements Innovation Hub. According to the development path in the white paper, the HKMA started a study on CBDC in the LionRock project as early as 2017, and has since launched a pilot study on a central bank digital currency cross-border trade bridge with the Bank of Thailand and others, and launched the exploration of a local retail Hong Kong Dollar digital currency (e-HKD) in June 2021, with e-HKD expected to be studied in 2022 project to conduct an in-depth study. It is reported that the e-HKD project contains two major parts, the first part is a technical trial of rCBDC, and the other part is a comprehensive study on the feasibility of issuing e-HKD. The white paper also reveals the difficulties for the construction of digital HKD, including privacy, scalability, applicability, cyber security, compliance, stability of operation and the ability to engineer the implementation of the technology, and other 7 major parts. In addition, for the time being, in addition to the general technical difficulties, the local community in Hong Kong has a predominantly cash-based spending habit, and from this perspective, the subsequent popularity of retail-based e-HKD carriers also needs to be considered.

Part 1 Industry News

Global University Blockchain Capability Ranking: NUS No. 1, Tsinghua No. 8

Oct. 8 (Xinhua) -- CoinDesk released its 2021 Global University Blockchain Capability Rankings last week, covering factors such as curriculum, research results, campus blockchain offerings (such as student clubs and research centers), employment outcomes, academic reputation and cost of investment. Asia (including Oceania) leads the pack with an average score of 63. It was followed by Europe (60) and North America (59). The National University of Singapore topped the list with multiple blockchain research centers, frequent blockchain-themed conferences, numerous blockchain clubs, university-enterprise partnerships, and a master's program in digital fintech. Chinese universities in the top 10 include Hong Kong Polytechnic University (sixth), Tsinghua University (eighth) and The Chinese University of Hong Kong (ninth). RMIT University ranked second. Topping the European rankings are the University of Zurich (fourth) and ETH Zurich (tenth). The top U.S. schools are the University of California, Berkeley (third) and the Massachusetts Institute of Technology (fifth). (CoinDesk)

Korean Journalists Association and Partners with PUBLISH to Adopt Blockchain Technology to Improve News Media Ecosystem

PUBLISH, Inc. announced that it has signed a memorandum of understanding with the Korean Journalists Association. The signing ceremony was held on October 5 at the Korea Journalism Center in Seoul. Through this partnership, PUBLISH plans to use decentralized identification technology to issue blockchain-based journalistic credentials to member journalists and hopes to introduce NFT technology as a way to help journalists monetize their news content. The Journalists Association of Korea (JAK) is the largest organization of professional journalists in Korea, with more than 11,000 individual journalists currently working for Korean newspaper companies, broadcast services, digital news sites and wire services.PUBLISHiD, an autonomous sovereign identity solution using blockchain technology.PUBLISH is a global technology that develops digital tools and technologies for journalists media company. (Business Wire)

Ripple and Qatar National Bank Partner to Launch New Money Transfer Service for Them

Ripple has partnered with QNB, the National Bank of Qatar, to launch a new money transfer service for the bank. QNB is the largest banking institution in the Africa, Middle East and North Africa region. It has begun working with Ripple on a global strategy to improve cross-border payment efficiency and launch a new remittance platform based on Ripple technology. The two parties have signed an agreement for QNB to pilot RippleNet in Turkey with QNB Finansbank, after which QNB will offer near real-time remittances and payments in multiple countries and add Ripple technology to other remittance channels. (U.Today)

Part 2 Policy Related

State Council: It is recommended to explore technologies such as Internet and blockchain to shorten the promissory period

October 4 news, recently held the State Council executive meeting proposed to encourage diversified investment, promote open cooperation, support private and foreign capital to participate in new infrastructure investment and operation, and participate in the development of relevant international rules and standards, this move will undoubtedly further provide a more fair and open market competition environment for private enterprises. Use a variety of means to solve the problem of accounts receivable arrears. We should implement the Regulations on Safeguarding Payment to Small and Medium-sized Enterprises, effectively implement the responsibility of supervision and inspection, and give full play to the disciplinary and restraining effect of the law on defaulting behavior. It is recommended to explore a variety of means such as the Internet and blockchain and other technologies, as well as more reliable acceptance methods, shorter acceptance periods and convenient discounting, to solve the delinquency of accounts receivable and reduce the pressure on SMEs to account for their payments. (Economic Daily)

Hainan encourages the establishment of service platforms to connect to government platforms through block links

Hainan Province Department of Human Resources and Social Security issued a public call for comments on the "Guidelines for Electronic Labor Contracts in Hainan Province (Draft for Comments)", in which it is pointed out that employers are encouraged to give priority to the conclusion service platform built by government departments, and the conclusion service platform built by market entities can be connected to the government conclusion service platform through blockchain and other means. (Phoenix)

The National Health Insurance Bureau: deepen the application of blockchain and other technologies in macro decision analysis, medical e-bills and other work

The National Health Insurance Bureau recently made an in-depth interpretation of the first five-year plan in the field of medical security - the "14th Five-Year Plan" for national medical security, which proposes to deepen the application of big data, blockchain and other technologies in macroscopic decision-making analysis, medical e-bills and other work. The Plan proposes to deepen the application of big data, blockchain and other technologies in macro-decision analysis and medical e-ticket.

Shandong Province encourages the use of blockchain and other new technology innovation data sharing model

The thirtieth meeting of the Standing Committee of the Thirteenth People's Congress of Shandong Province recently considered and adopted the "Regulations on the Promotion of Big Data Development in Shandong Province", which will come into effect from January 1, 2022. The Regulations proposed to encourage the use of blockchain, artificial intelligence and other new technological innovation data sharing model, to explore the provision of data services through data comparison, verification and other means. (Chinese government website)

Uruguay's Central Bank formulates "work plan" to regulate digital assets

Uruguay's central bank (BCU) has developed a "work plan" to lay the groundwork for the regulation of digital assets and the companies that provide these services. The BCU will also promote "dialogue with industry participants and will maintain relationships with other regulators and international organizations to deepen its understanding of the regulatory and supervisory experience of these activities". s backing. The BCU therefore recommends that users of the financial system and the public "make a thorough assessment of the risks they assume when using these instruments and take the necessary precautions to mitigate them, considering that high rewards are usually associated with high risks. " (CoinDesk)

Jiangsu Provincial Communications Administration to Comprehensively Investigate Virtual Currency "Mining" Practices

Recently, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Public Security and other departments issued a notice to strengthen the supervision of the entire upstream and downstream industry chain of virtual currency "mining" activities, and strictly prohibit virtual currency "mining" activities in the name of data centers. The Jiangsu Provincial Communications Administration attaches great importance to comprehensively investigating virtual currency "mining" activities in the province, monitoring and finding that the export traffic of virtual currency mining pools in the province reached 136.77Mbps, and the total number of Internet IP addresses involved in "mining" reached 4502, consuming computing power resources. The total number of IP addresses involved in "mining" was 4502, consuming more than 10PH/s of arithmetic resources and 260,000 degrees/day of energy.

Taking ethereum and bitcoin, for example, as the most popular virtual currency "mining" activities in the province, the cities with more "mining" activities include Suzhou, Xuzhou and Nanjing. From the IP address attribution and nature, about 21% of the IP addresses belonging to party and government organs, universities and enterprises were invaded and used to carry out virtual currency "mining". In the next step, the provincial communications authority will continue to analyze the situation of virtual currency "mining" and further unite all relevant departments to form a "multi-dimensional, multi-level" disposal system, dispose of related websites and mobile applications in accordance with the law, and cooperate with good illegal virtual The company will also further cooperate with relevant departments to form a "multi-dimensional and multi-level" disposal system, deal with relevant websites and mobile applications in accordance with the law, and cooperate with the tracing and combating of illegal virtual currency transactions.

Tianjin city regulations to promote the development of intelligent manufacturing: promote enterprises in the manufacturing process of deep application of blockchain technology

The Regulations on Promoting the Development of Intelligent Manufacturing in Tianjin were adopted by the Twenty-ninth Meeting of the Standing Committee of the Seventeenth Tianjin Municipal People's Congress on September 27, 2021 and shall come into force on November 1, 2021. The Regulations propose to promote enterprises to deeply apply new technologies such as blockchain in the manufacturing process and explore the formation of intelligent scenarios. (Ping An Tianjin)

National Development and Reform Commission included virtual currency "mining" activities in the negative market access list elimination category

According to the Development and Reform Commission on October 8 news, the National Development and Reform Commission, the Ministry of Commerce, based on the study and incorporation of the views of all parties, revised the formation of the "negative market access list (2021 version)" (draft for public comment), to the community for public comment. Among them, the virtual currency "mining" activities included in the elimination category "a, backward production process equipment.

Part 3 Technology Innovation

Germany's Auto1 FinTech launches Europe's first blockchain auto financing smart contract

Auto1 FinTech is eliminating all manual input and paper-based processes in its core business of auto financing, and all its documents, files and processes related to financing cars will be based on smart contracts, which maximize data security and efficiency and minimize the total expenses and documents involved in auto financing through smart contracts that contain all relevant information about the vehicle and processes.

Auto1 Fintech offers a fast and easy digital financing solution for the used car market. The company's announced goal is to provide innovative financing and support for all areas of mobility. auto1 FT was founded in late 2017 and currently operates in Germany and France, with headquarters in Berlin and Amsterdam.

Interac Receives Exclusive Rights to SecureKey Blockchain ID Technology in Canada

Interac has acquired exclusive rights to SecureKey's blockchain digital ID service for Canada, as the company works to build a federated identity network that will allow consumers to use online banking credentials to log in to public and private sector web services. The acquisition of SecureKey's Canadian business contract and its exclusive license to its intellectual property in Canada is Interac's latest investment in the digital ID space following its acquisition of 2Keys Corporation in 2019. SecureKey's Verified.Me application, built on IBM blockchain technology, is said to help users use information they agree to share from connections (such as banks) to verify their identity online, in person or over the phone, access content such as health records and government services, and open accounts with banks and telecommunications companies. 2016 saw the participation of six major Canadian financial institutions in SecureKey's $27 million funding round. (Finextra)

Tencent applied for a patent for a "loan qualification determination method", using blockchain technology to determine the qualification of institutions

According to the Tianwei Search App, Tencent Technology (Shenzhen) Co., Ltd. recently applied for a patent for "a method, device, equipment and storage medium for determining loan qualifications", which involves the blockchain technology field, with the application number CN202010238015.7. The patent application invokes the blockchain system by responding to the loan qualification query command. The patent application determines whether the product delivery record is valid by invoking the first smart contract in the blockchain system, obtaining the product delivery record of the target institution and the corresponding hash value of the product delivery record from the blockchain, verifying the signature data of the product receiving institution and the corresponding hash value of the product delivery record, and determining the validity of the product delivery record based on the multimedia data in the product delivery record in response to the validity of the product delivery record. The loan qualification of the target institution is determined based on the multimedia data in the product delivery record.

Part 4 Investment and Financing

Colombian Fintech Company Movii Closes $15 Million Series B Funding Round Led by Square and Hard Yaka

Colombian fintech company Movii announced Wednesday that it has closed a $15 million Series B round of funding led by Square and Hard Yaka, an investment fund founded by former Ripple chief venture officer Greg Kidd. The partnership with new investors will enable Movii to accelerate the growth of its existing services and launch new ones, with plans to raise a Series C round of funding by the end of this year.

Founded in 2018, Movii reportedly offers a digital wallet with 2 million users and a payment network for businesses, MOViiRed.(CoinDesk)

Early-stage venture capital firm NFX launches $450 million fund to back startups in crypto, fintech and more

Early-stage venture capital firm NFX today announced the launch of a new venture capital fund, a $450 million fund that will focus on cryptocurrencies and emerging verticals such as fintech, real estate technology, markets, gaming and biotech, and is the firm's largest fund to date. nfx previously raised $150 million for its first fund in 2017 and $275 million for Fund II in 2019. raising $275 million. Like the previous funds, Fund III will focus on seed and pre-seed stage startups, with a goal of adding approximately 70 companies to the portfolio. The fund's cryptocurrency investments will be led by NFX general partner Morgan Beller, formerly a partner at Andreessen Horowitz, but best known in her She joined NFX last year to strengthen the firm's crypto business, but Beller remains an advisor to the Facebook project. (Forbes)

Facebook launches $10 million creator fund for its VR platform Horizon Worlds

Oct. 8 (Bloomberg) -- Facebook announced a new $10 million creator fund to encourage people to build experiences on its VR platform Horizon Worlds, which is still in beta, but Facebook hopes more people will start making content for it to deliver experiences that will be of interest to more users. The fund will be used over the next year in three main ways: First is a series of community contests to build the best Horizon Worlds, with the top three winning prizes of up to $10,000. The second is the launch of a creator gas pedal program that will provide a crash course in advanced creation for Horizon Worlds for people of all backgrounds. Facebook completed a pilot of the program in September and will begin accepting applications for the next phase in November, with an official launch in early 2022. Finally, there is funding for developers who help build experiences for specific Horizon themes. The fund is also part of Facebook's meta-universe efforts, helping it compete with companies like Epic Games and Roblox. (The Verge)

What is the Metaverse?

The metaverse is an immersive virtual reality (VR) world where users can interact and engage with a digital world. It can be accessed through various mediums, such as VR headsets, mobile devices, and computer screens. The world is powered by a decentralized blockchain network, which allows for a peer-to-peer interaction and engagement. As the world is digital, it has no limit to its scale, and its boundaries are structured by the limits of its technology.

The internet that we know of is flat, and everyone has access to the same information worldwide. However, with the Metaverse, it becomes possible for people to interact in physically different ways. The Metaverse offers a wide range of applications, from entertainment to finance, education to communication, among others. The wide range of applications available in the Metaverse make it an ideal place to leverage NFTs.

https://opensea.io/assets/ethereum/0x453f34460A1FA6116D1de6B85B75A38110CBCBD8/0

The use of NFTs in the Metaverse

The Metaverse has opened up the world of virtual assets, making it possible for people to own unique digital items. NFTs can be used to represent ownership of digital assets, and once they are minted, they cannot be duplicated or replicated, making them valuable. NFTs can also be used to represent actions, such as participation in games or virtual experiences, making them ideal for gaming and other applications.

Art in the Metaverse

The use of NFTs in the Metaverse has made it possible for people to own and collect artwork in the digital world. Artists can create unique artwork and sell them as NFTs to collectors, who can then own and trade them in the Metaverse. The value of the artwork is determined by the owner in the market, making it an ideal way for artists to monetize their work.

Virtual Real Estate in the Metaverse

The Metaverse offers a wide range of real estate applications, such as virtual stores, hotels, and other virtual real estate. NFTs can be used to represent ownership of virtual real estate, making it possible for people to own and trade them in the Metaverse. Virtual real estate can be used for a wide range of applications, such as gaming, virtual events, and others, making it a valuable asset.

Gaming in the Metaverse

The use of NFTs in the gaming industry has opened up new opportunities for gamers worldwide. NFTs can be used to represent ownership of in-game items, such as weapons, skins, and other items. Players can buy and sell these items in the Metaverse, making it possible for gamers to monetize their gameplay. The use of NFTs in gaming also creates unique possibilities for game developers, who can now create games with valuable virtual assets.

The Metaverse has opened up new possibilities for people to engage with a virtual world in unique ways. The use of NFTs in the Metaverse has made it possible for people to own and trade unique digital items, creating a new industry with a unique set of rules. The Metaverse is still in development, and as more advancements are made, the possibilities are endless.

As an organization, we aim to explore the possibilities of the Metaverse and NFTs to leverage their utility and make life-defining innovations. Following our account grants you the chance to stay in tune with the latest practices in the Metaverse, which comes with free tokens so you can enjoy the unique living experience in the Metaverse. Join us in the journey of exploring this exciting new world, a place where anything is achievable.

When ChatGPT became a popular talk on the street, no one remembered the glory of meta-universe at the beginning.

Recently, Disney laid off 7,000 employees, and the meta-universe was the first department to move the knife.

According to people familiar with the matter, Walt Disney has eliminated the small division that developed the metaverse strategy, and about 50 members of the team are losing their jobs.

The department, led by former Disney consumer products executive Mike White, was created with the mission of finding ways to leverage Disney's extensive library of intellectual property to tell interactive stories in the form of new technology.

After the big layoff, McWhirter remains with the company, but his new role is unclear, according to foreign media reports.

In February 2022, former Disney CEO Bob Chapek hired McWhirter and told employees in an internal notice at the time that the goal was to "create a whole new paradigm for audiences to experience and engage with our stories.

After describing Metaverse as "at the forefront of a new generation of great storytelling," Bob was replaced as CEO by Robert Iger last November.

Disney had high hopes for the meta-universe, but as the effects of the worldwide epidemic receded and offline communication resumed, coupled with frequent pitfalls in various attempts, the meta-universe was no longer a topic that could be taken seriously.

The Disney metaverse department, which has done nothing for a year, was the first to be used by Disney Chairman Iger.

In fact, Iger knows a lot about the meta-universe, and even he himself has been in the meta-universe "pit" for a while.

Since his retirement from Disney in November 2021, Iger's repeated statements have revealed his interest in the metaverse, Web3, and has said that "the next iteration of the network will be more engaging in the experience, allowing users to have a more three-dimensional and immersive experience."

Since then, Iger announced an investment in Genies, a new 3D virtual character creation, and joined its company as a member of the board of directors.

After returning to Disney, Iger knew that the "pie" drawn by Genies could not save investors and senior management, including Chief Financial Officer McCarthy, from discontent.

Bloomberg reported that Iger said in a memo to employees on March 27 that the first batch of affected employees would be notified in the next four days, a second round of larger layoffs would be made in April, involving thousands of employees, and the last batch of affected employees would be notified before the summer.

The layoffs, including the meta-universe division, are just Iger's first cut, including theme parks and ESPN sports networks are not immune. As of Oct. 1 last year, Disney had about 220,000 employees worldwide, of which about 25 percent were part-time or seasonal employees.

Following the news of the launch of the layoffs, Disney shares rebounded from an intraday low, rising 0.7 percent to $94.74 as of 12:40 p.m. New York time Monday.

Disney shares are down 44 percent so far in 2022, after the removal of the cuts in the meta-universe division, the second consecutive year of decline has finally stopped.

02

For the current market, the meta-universe is a grand concept and a bottomless pit of money to burn.

In January 2022, Disney officially entered the metaverse field and received patent approval for metaverse technology in theme parks, and was approved to develop a "virtual world simulator" that projects 3D images and virtual effects into physical space.

The shift to virtual reality is because Disney now has virtual reality games and experiences that allow virtual interaction with characters.

If you want to have lunch with a Disney princess whenever you want, you can do that later," said Bob Bauer.

But if you want to truly build a completely borderless meta-universe, what you need is a huge amount of resources and arithmetic power to support it, and an almost infinite amount of bandwidth to support it, otherwise the meta-universe will simply have trouble supporting a huge market.

To this end, Disney spared no expense in recruiting product design managers, digital creators, sales and digital marketing directors in an attempt to guide the future-oriented digitization, metaverseization and gamification of consumer products.

Subsequently, Disney released a series of Black Panther poster NFTs on VeVe in November 2022 and presented them as posters, while the distribution method was released in the same way as blind boxes, similar to the concept of surprise packages, where the purchaser will not know which NFT in the series he or she has acquired until the purchase is successfully completed.

The harsh reality is that in the U.S. distribution market, head artworks and artists account for the vast majority of the turnover, and this time Disney's test run of Black Panther NFT works sold at a low price of only $6.99, yet the response was lukewarm.

In addition, according to public reports, Disney's meta-universe project has been in the R&D stage and has not been commercialized.

The bubble is piling up higher and higher, but the tide is starting to ebb before Disney can taste the sweetness of the meta-universe.

From the global hardware side, global AR (augmented reality) / VR (virtual reality) device shipments fell by more than 12% in 2022, of which annual sales of VR wearables in the United States fell 2% year-on-year to $1.1 billion, equivalent only to Zuckerberg's Meta three days of advertising revenue, limited market imagination in the short term.

Today, the cold wave in the U.S. job market is spreading from the Silicon Valley tech majors, and all the building blocks of the meta-universe require massive investment of manpower and resources, which will undoubtedly lead to huge problems.

03

Disney believes in the meta-universe, not in an ethereal future, but in a present that can be grasped by reaching out.

When the leading companies in the U.S. industry are trying to reduce costs and increase efficiency, no one dares to spend a lot of money and invest a lot of resources to do the meta-universe market that does not see a clear direction of profitability in a short period of time, so naturally some projects choose to strategically retreat, or temporarily give up is a natural thing.

After all, the meta-universe is not hopeless, but the cost of what needs to be achieved is too high, so high that most companies have to weigh whether they can support the development of the meta-universe.

Not only Disney, according to people familiar with the matter, the parent company of Facebook and Instagram metaverse platform company is planning a new round of layoffs and will cut thousands of employees as soon as this week.

At home, in early February, Ma Yingwu, head of Racer Meta Universe, left the company and related business was suspended; PICO, a virtual reality platform owned by Byte Jump, conducted a round of staff optimization; and Tencent's XR (extended reality) team is also facing a massive adjustment.

Along with the slash of layoffs, some visions of Disney's meta-universe plan will also come to an end without a hitch.

Take Disney's heavily funded "virtual world simulator" for example, which in theory will be used by Disney to track guests' movements in real-world environments (such as theme parks) and use projectors to bring characters to life in front of their eyes.

Similar technology is already being used in live shows and parades at Disney parks, although the new technology differs in that the visuals will be personalized for specific visitors, creating a unique experience for the individual.

Even though it has seen a glimmer of light, Disney has clearly lost patience with the metaverse.

Returning from virtual to reality, from frenzy to rationality, as Disney becomes efficient above all else, it also screens out areas of real value.

In this process, perhaps the ambition of carrying the blueprint of the meta-universe, had to become more practical, after all, Iger knows that the premise of creating dreams to tourists around the world is to first live steadily.

If the Berlin hard fork upgrade was just a minor tweak on the then Ether, the London hard fork upgrade, which was completed at block height 12,965,000 (August 5, 2021 Beijing time), was a "reform" of Ether's Gas mechanism.

The London hard fork upgrade includes five core improvements, namely EIP-1559 (fee market reform), EIP-3198 (BaseFee opcode), EIP-3529 (lower Gas refunds, invalidate Gas Token, serve EIP-1559), EIP-3541 (reject new contracts starting with 0 xEF), and EIP-354 (difficulty bomb delayed to 2 xEF). 3554 (difficulty bomb postponed to the first week of December 2021).

The goal of EIP-1559 is to create a more efficient fee marketplace and simplify the Gas fee payment process for clients and application software, thereby eliminating the need for users to pay unnecessarily high fees. The goal of EIP-1559 is to create a more efficient fee marketplace and simplify the process of paying for gas in client and application software, thereby eliminating the potential for users to pay unnecessarily high gas rates.

Simply put, EIP-1559 makes Gas fees "predictable," BaseFee public, and tipping fees allow miners to prioritize packaged transactions if they want them to be confirmed as quickly as possible. Previously, Gas fees have been non-public bidding, making Gas fees unpredictable and some transactions costing more than they actually need to be packaged as quickly as possible. In addition, due to the destruction of BaseFee, the inflation rate of Ether has been somewhat lower than before.

It has been 1 year since the official implementation of EIP-1559, and during this year, the destruction of BaseFee brought by EIP-1559 has generated a lot of interesting data.

Total destruction volume

According to ultrasound.money data, as of block height 15276831 (August 5, 2022 0:00:02 BST), the total destruction volume of Ether reached 2,571,183.34, worth about $4.14 billion at current prices.

Within 24 hours of the completion of the London hard fork upgrade, Ether destroyed about 4,700 coins; within a week of the upgrade's completion, over 30,000 coins were destroyed.

Ether destruction volume then exceeded 50,000 on August 16, 2021; 100,000 on August 26, 2021; 200,000 on September 5, 2021; 500,000 on October 11, 2021; 1 million on November 24, 2021; and 2 million on March 21, 2022.

Over the course of the year, 4,623,662 Ether coins were added and destroyed, accounting for 55.61% of the total additions, bringing Ether's one-year inflation rate down to 2.4%. Also according to Nansen data, the transactions supporting EIP-1559 were stable near 80% recently, but suddenly dropped to 60% yesterday, the reason of which is unknown for now.

In addition, according to The Block data, the highest amount of Ether destruction in a single day occurred on May 1 this year, when about 71,720,000 Ether were destroyed in a single day, nearly 60,000 more than the amount of additional Ether issued on that day.

Project destruction volume

According to ultrasound.money data, the top 10 contracts destroyed by Ether are (some data may be inaccurate)

Ether Transfer (237,438.18 coins)

OpenSea (230,049.80 contracts)

Uniswap V2 Router 2 (135,647.61)

Tether (112,497.21)

Uniswap V3 Router 2 (90,035.51)

OpenSea Trading Contracts (70,772.36)

Otherdeed (56,008.67)

MetaMask Trading Routes (51,032.13)

USDC (48,057.74)

Uniswap V3 Router (47,663.68 pieces)

In the list of Ether destruction by ultrasound.money, there are also DeFi protocols including SushiSwap, 1 inch, Aave, 0 x, Paraswap; Ether scaling networks including Polygon, Arbitrum, Optimism, Gnosis Protocol, zkSync; and exchanges including Gemini, Kraken, KuCoin, Bitstamp, Coinbase, Coinan. The list also includes exchanges such as Gemini, Kraken, KuCoin, Bitstamp, Coinbase, and Coinan. Also on the list are protocols such as Axie Infinity, Shiba Inu, Genie, Gem, Chainlink, DAI, Tornado Cash, ENS, LooksRare, dYdX, ApeCoin, Hop Protocol, and others.

It is worth mentioning that due to the continuous boom of NFT market in the second half of last year and the first half of this year, the destruction volume of Ether of OpenSea contract has dominated the position of "top one" for a long time. But recently, as the NFT market continues to cool down, the destruction volume of Ether transfers overtook OpenSea to take the first place.

In addition, according to ultrasound.money data, in the past year, 956,027 pieces of Ether were destroyed by NFT-related contracts, accounting for 37% of the total destruction volume; 755,607 pieces of Ether were destroyed by DeFi-related contracts, accounting for 29% of the total destruction volume; in addition, 66,609 pieces of Ether were destroyed by MEV transactions, and 25,176 pieces of Ether were destroyed by Layer 2-related contracts. In addition, MEV transactions destroyed 66,609 Ether and Layer 2 related contracts destroyed 25,176 Ether.

Other Data

In just one year, EIP-1559 has brought a lot of interesting data and stories.

After the upgrade, did Gas go up instead of down?

Just after the completion of the London upgrade, which was claimed to solve the excessive Gas problem, the Gas fee increased instead of decreased, sparking a community discussion. Ethernet developer trent.eth tweeted that there are 5 main reasons for this situation.

Some features (such as top-ups and withdrawals) were disabled by service providers, including exchanges, during the upgrade, leading to a concentrated burst of demand after the upgrade was completed.

Some large-scale NFT airdrops were taking place.

Some miners set the Gas Limit below 30 million, resulting in less than 50% actual usage of Gas per block and increasing on-chain congestion.

Price volatility in the secondary market for Ether.

Users are sending transactions in large numbers to try out the new features brought by EIP-1559.

The upgrade did not turn out as expected

At the end of September of the same year, Bitfinex's wallet made a transfer of 100,000 USDT for a Gas fee of 7676.62 Ether (worth over $20 million at the time). According to the information on the chain, the transaction may have had several parameters set incorrectly, resulting in an abnormal Gas fee, but the transaction only destroyed about 0.0085 ETH. At that time, the overseas Ether community thought that the arrival of EIP-1559 would reduce such outrageous mistakes, but it seems that it did not work out as expected.

Miner revenue

Before the London upgrade began, some mining pools and miners opposed the upgrade for fear that it would lead to lower mining revenue, and even threatened to fork Ether, but the situation was eventually resolved due to the weakness of the force. The Block reported on August 29 that although the Ether as BaseFee was destroyed, miners' dollar-denominated income remained largely unchanged, partly due to the rising price of Ether and partly due to the hot NFT market, which led to the recovery of some of the losses caused by EIP-1559.

According to The Block data, the total revenue of Ether miners basically remained at the same level as in 2021 until May this year, and then there was a significant drop after the price of Ether plummeted. This shows that in fact, the income of Ether miners did not drop significantly due to the implementation of EIP-1559, and it also shows that although EIP-1559 theoretically reduces the possibility of "spending money in vain", it does not really reduce the on-chain cost.

Gas War

At the end of the month when the London upgrade was completed (August 28th), the Adam Bomb Squad NFT released by clothing brand The Millions started the first "Gas War" since the Ether Gas policy update. Within an hour of the NFT's opening for sale, about 1,908 Ether were destroyed and Gas surged to 1,500 GWei at one point.

The smoke of the first Gas War has not yet cleared, and 3 days later, Fatales, the NFT project, started a Gas War again, this time the number of Ether destroyed in one hour was about 1080. Although the amount of destruction was not as much as the first stop, the lack of Gas once soared to around 2000 GWei.

In September of the same year, the third Gas War took place, with a project called sipherNFT also destroying over 1,000 Ether in the span of one hour and causing Gas fees to skyrocket to a maximum near 3,000 GWei.

After the "Three Guns", every time a popular NFT project starts selling or casting, it will set off a fierce storm on top of Ether. The most amazing of these stories, Gas War, took place on May 1 of this year.

At 9:00 GMT on May 1, 2022, Yuga Labs meta-universe project Otherside block NFT Otherdeed was launched for casting, and in just one hour, the casting contract destroyed more than 26,000 Ether, and the on-chain Gas cost once soared to nearly 10,000 GWei. 24 hours after the casting was launched, Otherdeed's trading volume on After 24 hours of casting, the transaction volume on OpenSea reached nearly 12,300 Ether, and the contract destroyed over 42,000 Ether, breaking into the top 10 list of Ether destruction volume in just one day. After the implementation of EIP-1559, the project set a number of Gas-related records on May 1, and the single-day Gas destruction record mentioned above is also credited to Otherdeed, and it is likely that the record will be hard to break anytime soon.

Ether celebrated its 7th birthday last Saturday, 7 years since it came out of doubt and exploded in last year's bull market. With EVM becoming the 'standard' for many new public chains, Ether has grown to become a major benchmark in the Web3 industry. The London upgrade of EIP-1559 has brought a number of great stories that are too numerous to list here, but that doesn't stop the wheels of history from continuing to roll forward. With the upcoming merger and Vitalik Buterin's vision for the future, there are bound to be more exciting stories to write about the future of ethereum.

In 2016, Gavin Wood wrote the Poca white paper after his departure from Ether. After a long period of development and exploration, the cross-chain project Poca has finally reached its historic moment. In December 2021, Polkadot's first round of five parallel chains successfully went live, meaning that Poca completed its launch phase. Five years in the making, Polkadot finally confirms the vision outlined in the 2016 white paper.

Unlike the massive Ether, Polka's development journey has been relatively slow, and it's true that many users and teams with expectations for Polka feel the same way.

But Gavin Wood's ability as the man who drove the Ether technology implementation onto the right track is unquestionable, and he left Ether to realize a new vision of building a truly free and open platform.

Therefore, the long and steady pace has also led to the fact that PoC has not been consistently hot, and all the development and preparation takes time. Add to this the fact that most countries are now entering winter and the epidemic continues to affect the global economy. Against the backdrop of a sluggish market, this has inevitably led to some misconceptions about Boca.

So we have compiled a list of the most concerned and most questioned questions in the community, hoping that our answers will give readers a clearer understanding of polka.

Ten misconceptions about Palkdot

1、Polkadot inflation 10% per year The wave card pass DOT initial issue of 10 million pieces, in August 2020, the denomination of the DOT was split. So now the total initial issue of the new DOT pass is 1 billion pieces, after which it is issued in annual increments, with no upper limit on the total amount.

Because of the earlier description, many people interpret the inflation of the Polka as being 10% inflation per year, but is this really the case? In order to understand this, we must first understand how the polka is inflated.

Overall, Polkadot generates a portion of DOT through inflation and targets these DOTs for distribution to specific populations to support the participants that sustain the Boca network as well as ecological construction.

Since Polkadot uses NPoS nominated proofs of interest to reach consensus, there are two roles of nominator and verifier. By pledging (Staking) a pass to become a nominator and then nominate their trusted verifier, the verifier gets a reward by running nodes and confirming blocks, and this reward comes from the incremental issuance of passes, thus creating inflation.

In addition, the Polkadottreasury is an institution established by Poca to stimulate ecological development, which includes DOT generated by inflation, DOT slashed by the system due to misconduct, part of the transaction fees and part of the costs of block bidding in parallel threads to form a pool of funds for ecological construction. The main destination of the funds.

The inflation of the complete PoC consists of the following components: (i1) inflation from rewarding verifiers and nominators through the incremental issuance of passes, (i2) inflation caused by issuing additional passes for the treasury, (i3) deflation caused by misconduct, i.e. Slashing, and (i4) deflation caused by transaction fees.

Organized into the formula: Inflation = i1 + i2 - i3 - i4, and i1, which is the need to issue additional passes to reward verifiers and nominees, causes the largest percentage of inflation and is the main factor in overall inflation.

To understand this consensus more clearly, need to understand more clearly the mechanism of the treasury, inflationary funds mainly go to i1 and i2 part, but the treasury this i2 part, in addition to inflationary funds also includes i3, i4, and the treasury will destroy a part of the unused funds (which is the only burning mechanism of the entire boca), but i3 and i4 originally does not belong to the inflationary part, therefore i1+i2 is equivalent to double counting i3 and i4, so here we have to subtract i3 and i4 again.

In summary, we find that the inflation rate of Polkadot is less than 10, because part of the DOT is burned through the mechanism of the treasury. And according to the official data: https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Frpc.polkadot.io#/staking, the current inflation rate of Polkadot is 7.8%

2、Polkadot inflation is too high and there is no deflationary mechanism First of all, there is a destruction mechanism for boca. In the design of boca treasury, the treasury will destroy a certain percentage (1% for boca now and 0.2% for Kusama) of the balance at the end of each spending cycle (24 days for boca and 6 days for Kusama).

Secondly, inflation is not a flooding beast, it is a very necessary mechanism in the development process and proper inflation is good for the economy.

Deflation may seem to be verified on bitcoin can increase its value, but on the other hand deflation means that money will gradually increase in value, which will make people more shy to sell, not willing to use the money, the circulation rate of money is reduced, if from a monetary point of view, this will make the money flowing into the economy becomes less, economic activity becomes less, the whole economy's vitality is reduced, not conducive to the development of the economy.

Of course, for bitcoin it's deflation that makes it appreciate, more closely resembling a stored value collectible than like a currency, where fluctuations in value inhibit circulation.

But the logic of Polkadot is different from bitcoin. Bitcoin itself is positioned as a digital asset, while polka's DOT is an important resource in polka's ecosystem, which needs to be circulated and used, so deflation is bad for polka's ecosystem.

But on the other hand, inflation will make people perceive that the money in their hands will gradually depreciate in value, but of course the inflation situation should be discussed in different situations. Excessive inflation can also make the economy collapse, the reality of Zimbabwe, Venezuela, etc., has well illustrated this problem, in the Crypto field, excessive inflation will make the holdings of passes depreciate significantly, and there is no other economic activity can be higher than this inflation rate, then naturally no one wants to hold it for a long time.

Proper inflation, on the other hand, will incentivize money to shift to more profitable economic activities and will accelerate the circulation of passes in the economy, meaning that the overall volume of the economy will then increase in favor of economic development.

And in the PoC ecology, more profitable options have been given in the design of the mechanism, for example, PoC's Staking reward is more than its inflation, and secondly, there are similar passes for ecological projects obtained through slot auctions, and the return of these passes is also possible if they can beat inflation.

Therefore, the current boca inflation if someone feels high, it is possible to run over inflation by participating in the boca mechanism. Therefore, this mechanism is also a disguised incentive for people who hold DOT to participate in the boca mechanism, either to support the boca network or to support the ecological construction of boca, which is a better design idea. However, I believe that seeing this, there will still be friends who feel that 7-8% Polka inflation is still very high, so let's take a real-life example.

China's consumer price index CPI for the past 10 years, although the official data released is an average of about 3%, but we actually perceive that is certainly not the case, because the property is removed from the CPI calculation, and the degree of price increases of different goods and factors is not consistent.

Let's use another approximate formula to measure inflation = M2 growth rate - GDP growth rate. Doing so, we have had an inflation rate of about 7% for the last 10 years. So, have we lived with this inflation rate for so long that we feel it is an unacceptable inflation? Not to mention that Boca has Staking that beats inflation to participate in, so why not?

Of course, some friends will raise a question, DOT will fluctuate, if down, even through Staking such a financial way, can resist inflation, but the total value will still lose, then how to do? This will test the specific operation of the problem, in fact, through position management and some hedging and other operations are completely hedge off the problems caused by the decline of DOT, and this is not counting the dividends of ecological development.

Finally, Poca's inflation rate is adjustable. Polka is a decentralized and with governance function of a public chain, in the design of Polka, many parameters are adjustable by way of governance referendum. For example, a certain percentage of surplus funds will be destroyed in the Polka treasury, and this percentage can be adjusted.

Just as in our reality countries will issue more money on the one hand, and on the other hand regulate the monetary situation through some monetary policies such as raising and lowering interest rates, raising and lowering quotas, etc., so that their economies develop in a relatively benign state.

Similarly, in the design of the polka, there is both an increase in issuance to stimulate the development of the polka ecological mechanism, and there is a destruction mechanism, as well as governance to regulate these mechanisms, so that the polka can develop well, so this is a more thoughtful design.

3、Polkadot is all Asian people playing, and there is little progress in some areas once the policy is tightened In the community feedback, a number of fans also questioned the users of Boca, they think Boca are only Asian people playing. In fact, on this point, from many relevant data can be verified.

Previously, Gavin Wood did an annual summary of Boka 2021, in which the official data showed that about 350 teams have received investment and financing so far, which is a 3.5 times increase compared to last year; and in 2021 alone, about 50 people have raised a total of over $670 million in early stage financing (seed and A rounds).

Secondly, the official Element (chat platform) has more than tripled from 2,500 to 10,000 users in the Substrate and Parachain channels; and as shown in the Electric Capital report, the Poca developer ecosystem is leading with a large number of active people, which means there are more potential users.

In addition, Twitter is a large global social media platform (mainly overseas users), and Twitter data is an important indicator.

At the end of 2020, Polkadot officially had less than 100,000 followers on its platform, but after just one year, the Twitter account has grown to more than 1 million followers, and even Kusama's account has grown from 30,000 to 200,000 followers. Not only Twitter, but also Reddit, Discord, Youtube, etc., all of these overseas social media platforms have Boka's presence and his fan base has maintained a steady growth.

All these data are enough to dispel the rumor that "Boka is played by Asians".

4、Polkadot is the same as EOS It was around the second half of 2020 when the market response to Poka's mainnet was lukewarm and its performance was unsatisfactory, so many people questioned whether Poka would become the next EOS. .

First of all, we need to make it clear that EOS aims to become a standard Layer1 public chain and enrich its development by building an ecology under the public chain, while Polka itself is a Layer0 concept, aiming to build a multi-chain ecology instead of building a certain chain.

Secondly, it seems that the problem of EOS "known to all" has become the laughing stock of the believers, despite the huge amount of financing, the funds have not been used for ecological construction, and even the anecdote that the EOS community has frozen its official account by means of DAO.

In contrast, since its launch on the Autonomous Network, Boka has contributed a lot to ecological development by way of the treasury and Web3 Foundation, such as technical training, Grant, Treasury, Hackathon, Substrate Builders Program, etc. As a result, it has also reaped a rich ecology and become the blockchain with the highest growth rate of 2021 developers.

Therefore, we judge from these fundamentals, at least the current development of Polkadot and EOS are completely two lines, rather than one-sided because of market factors wrongly believe that they are the same product.

Between what Harvard professor Shoshana Zuboff calls the surveillance capitalism model, in which private tech giants accumulate and use personal data for profit, the European Union (EU) has struggled for years to find a "third way" in technology and economic policy. Despite many policy proposals and political speeches, the quest for greater digital sovereignty remains somewhat ambiguous. Moreover, judging from recent policy outcomes (e.g., GDPR) and the current state of European technology companies, it is safe to say that whatever the current "third way" model is, the strategy is failing. Instead of catching up economically, Europe is falling further and further behind.

In this article, I would like to outline why cryptocurrencies and Web3 offer the "third way" that the EU has been looking for for so long. Not only are the values of Web3 perfectly aligned with the sought-after concept of digital sovereignty, cryptocurrencies would also make the EU more financially independent from the US and provide a unique economic opportunity to recover from its economic woes in the Web2 era. Furthermore, I believe there are several geopolitical reasons why Europe actually has the greatest potential upside from mass adoption and support of Web3 compared to the major global superpower, the United States.

My main arguments are threefold. For those interested in learning about the upcoming rules for crypto asset firms in Europe (EU Crypto Asset Market Regulation - MiCA), please see my post from earlier this year.

#1 Web3 is the most promising path to digital sovereignty in the EU

The theme of digital sovereignty underpins every EU digital policy proposal. It is a common theme of the GDPR, the Digital Marketplace Act, the Digital Services Act, and many more political initiatives. According to Angela Merkel, "digital sovereignty" describes the ability of individuals and societies to shape digital transformation. She emphasized that the commitment to a shared, free, open and secure global Internet is in fact an expression of digital sovereignty, and that people must participate in and control their data. The core concept of digital sovereignty is self-determined control by the individual, against the concentration of power, whether that power is government or corporate.

Web3 is the perfect vehicle for achieving this goal. In Web3, the ownership and control of data can be decentralized. Users and builders (e.g., social networks) can own pieces of Internet services, both irreplaceable (NFTs) and replaceable, by owning tokens. This solves the main problem of centralized networks, where value is accumulated by one company and incentives are not aligned among network participants (e.g., users, content creators, builders).

While content creators are currently only rewarded with love and likes on Twitter and elsewhere, they will be financially rewarded through tokens in Web3. Finally, users and creators will always be able to opt out of the centralized service. Unlike Twitter's handles and likes, tokens (such as NFT) are linked to a public blockchain address rather than being locked to a single platform. This will allow the builders and creators of Web3 services to gain more digital sovereignty.

So far, the EU has worked to achieve the goal of digital sovereignty by exercising its regulatory powers. It has put forward several legislative proposals to force Internet companies to comply with regulatory requirements on data privacy or content management. Regulations like the GDPR have had at least some success. Citizens are more aware of their rights, such as the right of access, the right to correction, the right to erasure or data portability. They feel empowered by these rights and are more willing to share data online.

But this strategy has its obvious limitations. While in theory, users are now fully exposed to the ubiquitous cookie pop-ups, privacy policy consent forms, and terms and conditions, in practice, only a very small percentage of people actually read these documents. People spend (on average) less than a minute on any given website, and almost no one is prepared to read a pop-up for that purpose. This is exacerbated by the poor and confusing design of these cookie banners.

The result of these regulations is that the Internet in the EU is becoming less and less user-friendly. Theoretically empowered users are fed up with this, while companies spend millions of dollars trying to come up with new workarounds to get users' consent.

GDPR and related legislation undoubtedly have some benefits in terms of digital sovereignty, but the overall result is rather frustrating and limited. Users will continue to increasingly use Internet services and share their private data - and there is no cookie pop-up to prevent them from doing so.

Just as copyright infringement and piracy have not been massively reduced by regulation, but have benefited from the emergence of technological alternatives (streaming giants like Netflix or Spotify), I think the most effective strategy for achieving digital sovereignty is to aggressively adopt alternative Internet architectures that build (by design) these values into their core.

#2 Cryptocurrencies will make the EU financially independent from the US

The adoption of cryptocurrencies will not only help the EU achieve its ambitions for digital sovereignty, it will also free it from the dominance of the U.S. dollar and U.S. hegemony over the global financial system.

Let's face it - the US is dominating the global financial system. Nearly half of all cross-border activity is denominated in dollars, along with most securities and derivatives settlements and foreign exchange transactions as well. It has, by far, the deepest and most liquid capital markets. In terms of international reach and acceptance, it is home to the largest global payments giants - Paypal, VISA and Mastercard - and has significant influence over SWIFT, the global information network used for international payments.

This was clear to everyone when the EU's efforts to get around former President Trump's Iran sanctions completely failed. Iranian banks and financial institutions were cut off from the dollar-based payment system, and despite the strong political resolve of European politicians, there was no way for the EU to get around the U.S. sanctions. Alternative payment instruments like INSTEX were barely adopted. The risk of being cut off from the dollar and dollar-denominated payment systems proved too high for European banks and companies.

Cryptocurrency could reduce U.S. dominance of the global financial system. By definition, it is free from national interests and political manipulation. It is an open, transparent, decentralized and uncensored financial infrastructure on which payments, money and capital markets can be established by anyone and used by everyone. The greater the adoption of cryptocurrencies, the more independent global finance will become from political interference.

There is no doubt that the United States will be reluctant to relinquish its leverage over the current financial system. Cryptocurrencies and Web3 represent one of the greatest financial, economic and geopolitical opportunities for Europe to step in and lead the way in building and pioneering the future of global finance on the cryptocurrency track. Europe's "third way" would oppose the current politicized and dollar-dominated system. Instead, promoting a decentralized, apolitical, free and open payment system based on cryptocurrencies would not only be financially and politically beneficial, but would also attract talent, capital and companies from around the world.

The focus of this article is on the "why" Europe should embrace cryptocurrencies, not the "how" (which will be discussed in a future article). However, there is one thing worth highlighting here: stablecoins will play an important role in the future of payments. The currently proposed EU cryptocurrency rules (MiCA) will effectively suppress euro-denominated stablecoins even before this market emerges.

If the EU wants the euro to play an important role in future global payments, then stifling euro-backed stablecoins would simply be the opposite. The current stablecoin market is already heavily dominated (over 99%) by dollar stablecoins. This not only creates foreign exchange risk for European consumers (e.g., using DeFi), but more importantly, again leads to significant political influence by the U.S. government and an equally large amount of economic value creation that is denominated in dollars.

If cryptocurrencies "eat the world", the power of governments and central banks (e.g., the effectiveness of their monetary policies) will depend heavily on the relative importance and adoption of stable currencies denominated in their currencies. For example, if in a future European crypto economy all activities (financial and economic) are denominated in dollar stablecoins (meaning that people and businesses borrow and pay in dollar stablecoins), the effectiveness of the ECB's monetary policy - for example, by raising interest rates in euros - will be close to zero. -would be close to zero.

Given this, perhaps the EU, and the ECB in particular, should be working to support euro-based stablecoins, rather than hinder them.

#3 Web3 is Europe's greatest opportunity for economic and technological recovery

The EU may well be the world's leading tech regulator, but there is no denying that the venerable continent has not been successful in establishing and expanding tech companies. None of the world's 20 largest tech giants are European. in 2000, Europe accounted for 41 of the 100 largest companies by market capitalization, and that number drops to 15 in 2021. Europe's share of global equity market value has almost halved in the last 20 years. In terms of market capitalization of venture-backed unicorns, the US and China exceed Europe's by 3-5 times.

It is clear that Europe has fallen behind economically in the Web2 era. The reasons for this (e.g. size of domestic markets, capital markets, universities, R&D, mentality, language) are manifold and not central to this article. Suffice it to say that the associated value creation and brain drain (brain drain) is very painful for the European economy. There are two ways to deal with the current state of European technology.

The first seems to be the one currently favored by government officials and business leaders. It includes regulatory action (e.g., the Digital Marketplace Act), protectionist measures (e.g., the Chip Act), or large-scale government-sponsored tech projects (e.g., GAIA-X) aimed at strengthening the competitiveness of established European companies.

The second approach requires massive investments and the promotion of new technologies and startups that could disrupt the current landscape and become a major economic force.

In all likelihood, the latter model has a higher chance of success. Furthermore, I think Europe may have some competitive advantages in cryptocurrencies and should put Web3 at the center of its economic comeback strategy. Why?

Europe is currently the largest cryptocurrency economy with over $100 million in trading volume

Europe may not have the largest cryptocurrency business or a publicly traded company like Coinbase, but it does have the most active crypto community and individuals. According to Chainalysis, Europe accounts for 25% of global cryptocurrency activity between July 2020 and June 2021, with a sharp rise in trading volumes in all cryptocurrency subcategories, especially decentralized finance. In addition, the EU has the largest number of Bitcoin and Ether nodes in the world, even more than the US or China.

There is no denying that there is a long road ahead and that most of the innovation in cryptocurrency and Web3 is currently being created by U.S. companies. Nevertheless, having the most knowledgeable population about cryptocurrencies is a good prerequisite for the future growth and adoption of this industry.

The EU has the most advanced and harmonized regulations around this issue

The next phase of mass adoption of cryptocurrencies will be institutional. And institutions need legal certainty and regulatory clarity.

The Markets in Crypto Assets Regulation (MiCA), scheduled to be adopted next year (at the latest), will create a fully harmonized and binding regulatory framework in Europe. Agreed, it has its own flaws (see here), but at least it provides transparent guidelines for issuers and service providers, with clear regulatory responsibilities and systems.

Meanwhile, financial regulation in the U.S. - and cryptocurrency regulation in particular - is a mess. Regulation varies from state to state, lacks a clear system of oversight, and offers great potential for conflicting requirements from different regulators or conflicting laws at the state and federal level. For example, on top of the federal regulators FINCEN, SEC, CFTC, IRS, Treasury and OFAC, Coinbase has money transmission licenses from 50 different state regulators and loan licenses from 50 state regulators.

U.S. regulators, such as new SEC Chairman Gary Gensler, have stepped up their tougher tone on cryptocurrencies and are signaling tougher regulatory and oversight actions. As a result, the lack of regulatory clarity may soon be accompanied by strict enforcement actions.

If the EU can get the MiCA right, Europe has the opportunity to attract talent, companies and capital from around the world and lead the next phase of institutional cryptocurrency adoption.

By far, Europe has the largest upside and lowest cost of disruption

This is probably the most important strategic and geopolitical advantage in adopting Web3 compared to the U.S. Web3 heralds a huge financial, economic, political and social revolution. It will not come without a cost. Financial institutions, Web2 technology companies, and political institutions will all face enormous disruption.

The United States owns Wall Street, Silicon Valley, and the global reserve currency. The cost of disrupting these institutions is enormous, which is why I expect the resistance against cryptocurrencies to be fierce. The more cryptocurrencies grow, the more this resistance will grow. web3 challenges the current institutions and foundations of economic, financial and political power in the US.

There is no doubt that for European companies, the evolution to Web3 will also come with its costs. But let's be honest, European banks have been struggling to survive since 2008, Europe has not created a tech giant in the Web2 era (except perhaps Spotify), and the Euro as a currency/the Eurozone as a monetary union is under attack from the continent. In the long run, the unique euro architecture, i.e. common monetary policy but no fiscal union (national deficits, debt, budgets, etc.), stands on unstable ground.

Compared to the US, Europe has by far the lowest cost of disruption and the largest potential upside. The cost-benefit analysis on Web3 seems clear. The benefits described (digital sovereignty, financial independence, economic opportunity) would greatly outweigh the costs.

The EU would do well not to miss this unique strategic and geopolitical opportunity.

Conclusion

In this article, I have outlined several financial, economic, and geopolitical reasons why Europe should embrace Web3. Web3 not only has the potential to enable the EU to finally achieve digital sovereignty and financial independence, but also represents the greatest opportunity to revitalize its struggling economy since the Web2 era.

Furthermore, the EU has several geopolitical advantages over the US (cryptocurrency-savvy population, regulation, lower disruption costs) that would allow it to benefit the most from a positive Web3 strategy. This is why I think the EU has a real opportunity to play a significant global role in Web3, and why we should do everything we can to make it one of the key political and economic priorities for the next decade.

In fact, Animoca Brands was a traditional handheld game development company until 2 years ago, and was delisted from the Australian Stock Exchange for various reasons. Today, the project has reached $670 million in revenue in the first 3 quarters alone, making it a unicorn company in the NFT track.

With the explosion of the chain tour and meta-universe track in the second half of this year, Animoca Brands, a unicorn in this field that has been laid out for a long time, surfaced.

Founded in 2014 and headquartered in Hong Kong, Animoca Brands is the developer of chain games such as The Sandbox, a sandbox game, and F1 Delta Time, a Formula 1 racing class. In addition to product development, Animoca Brands is also an early investor in Axie Infinity developer Sky Mavis, Decentraland, Dapper Labs and other NFT star projects, with a cumulative investment in over 150 NFT/metaverse projects.

For most people, Animoca Brands is more like a head player in the crypto industry that came out of nowhere. So, how did it make its fortune and where is it headed?

I. Back from the dead

The company, co-founded by tech entrepreneur Yat Siu in 2014, was a not-so-well-known developer and publisher of handheld games until its move into blockchain in late 2017, and its business scope even involved e-books at one point.

Animoca Brands was listed on the Australian Securities Exchange ("ASX") in January 2015, but has had a long history of mediocre performance and has repeatedly raised capital to supplement its cash flow. According to Crunchbase data, Animoca Brands raised a total of nine rounds of post-IPO financing from 2015 to 2019, amounting to a cumulative $34.3 million, to advance various mobile games, e-books, VR, chain tours and other businesses, but it had little success at that time.

As of the fourth quarter of 2017, its quarterly operating cash flow has been negative. Data show that the company's share price fell by more than 95% in August '17 from its previous high of A$0.20 to below A$0.01 at one point.

In the second half of 2017, under pressure from ASX inquiries into its performance, Animoca Brands undertook three reforms to streamline costs and boost revenue: restructuring directors' pay, selling off non-core assets, and laying off staff, including a 50% pay cut for all executives. During the year, the company sold 318 of its 524 handheld games - most of which were casual games - for a total of $8 million, and reduced its workforce from more than 110 to less than 70.

By early November this year, the company had 527 employees worldwide and had become an NFT track giant. What happened in between?

The change began in early 2018, when Animoca Brands Executive Chairman and co-founder Yat Siu told Chain Catcher that Animoca Brands acquired a game company that had been involved in the development of Cryptokitties, the incipient blockchain game that was hot at the time.

"This was our first involvement with blockchain gaming and NFT. we immediately realized the power and benefits in between and how NFT would revolutionize the existing gaming industry by providing digital property rights to players," Yat Siu said. since then, Animoca Brands has been focusing on NFT-based games.

In January 2018, Animoca Brands signed a one-year licensing and distribution agreement with Axiom Zen, the development team of Cryptokitties. animoca Brands has the right to distribute Cryptokitties exclusively in China, with a 30% share of net revenue.

In August of the same year, Animoca Brands acquired Pixowl, the developer of UGC (user-generated content) game platform The Sandbox, which had more than 1 million monthly active users at the time, according to an announcement from Animoca Brands. In addition, Pixowl has plans to launch a blockchain version of the game.

"We acquired Pixowl and Sandbox for less than $5 million, which proved to be a very successful investment," Yat Siu said to Chain Catcher.

The Sandbox is currently one of the most successful projects under Animoca Brands. As of December 21, The Sandbox token SAND has a total market cap of $4.7 billion in circulation, ranking 37th in the Coinmarketcap market ranking, while the diluted market cap reaches $15.3 billion. Meanwhile, The Sandbox's virtual land trading volume is high, with Republic Realm breaking the virtual land sales price record with a $4.3 million purchase on Nov. 30.

Yat Siu told Chain Catcher that there were a number of opportunities for this acquisition in '18, including the fact that one of Pixowl's backers, Martin Varsavsky, is a close entrepreneurial friend of Yat Siu, that Pixowl has built up a reputation for brand IP, etc., "but most importantly, Pixowl and its founders have deep insight into blockchain and NFT." Yat Siu believes that these elements will enable the team to gain a leading position in both blockchain and traditional gaming.

Subsequently, in October and November, Animoca Brands invested in Decentraland and Dapper Labs, respectively. in January '18, Animoca Brands partnered again with the WAX blockchain to introduce user-generated items to its game The Sandbox on the WAX platform, while the two sides swapped interests, exchanging $250,000 worth of the company's stock for 250,000 worth of the company's stock in exchange for WAX tokens.

As of the end of fiscal year 2018, Animoca Brands' revenue continued to be primarily supported by revenue from traditional handheld game sales, with cryptocurrency-related investments generating only a million dollar loss.

In November 2019, Animoca Brands completed another significant investment, leading a $1.465 million funding round in Axie Infinity developer Sky Mavis for $420,000 - Axie Infinity had by then emerged at the top of the chain game revenue The company also raised $1.465 million through partnerships and acquisitions. At the same time, it also acquired the IP rights of Formula 1, MLB, Bundesliga and other sports through cooperation and acquisition, accumulating resources for blockchain games and NFT development in the direction of sports IP.

Just at this time, ASX halfway through the inquiry letter and delisting warning.

According to Animoca Brands' subsequent disclosure, ASX alleged three issues with the company: internal governance issues, significant involvement in cryptocurrency-related activities, and trading irregularities. The company did not back down from the accusations regarding its involvement in crypto activities, while in response to the internal governance issues, Animoca Brands acknowledged alleged irregular practices in its operations, but did not release details.

In March 2020, the ASX formally removed Animoca Brands from its listing list, citing "a lack of adequate resources, systems and controls to meet its obligations under the Listing Rules". At that time, the company had a total market capitalization of $124 million.

In fact, the impact of the delisting was more reputational than beneficial - its stock price had rarely risen significantly in the five years of the public offering. Instead, the delisting gives Animoca Brands the room to flex its muscles and move into the deeper waters of the NFT space without being caught up in concerns about violating public company rules.

In 2020, Animoca Brands focused more on the development and expansion of its own assets: The Sandbox publicly launched its SAND token and went live on Coinan, its F1 Delta Time game launched its token REVV, while ecological activities such as NFT pledge mining and NFT auctions also went live from time to time.

On the other hand, Animoca Brands has acquired at least 9 crypto companies in recent years, including NFT marketplace QUIDD, sports NFT ecosystem Olympo, prediction market project Prosper, indie game developer Blowfish Studios, NFT solution provider Bondly, etc.

Currently, at least eight of Animoca Brands' subsidiaries have issued tokens, but with the exception of The Sandbox, which was acquired, the other projects have been mediocre in terms of market impact and token prices. Next, Animoca Brands plans to launch the 3A-rated chain game Phantom Galaxies next year, and to partner with the well-known NFT project Bored Ape Yacht Club to launch a new game in the second quarter of next year.

Second, more like a16z in the NFT space than a game developer

While Animoca Brands spent its first three years in the crypto scene expanding its network of resources and building internally like any newbie in transition, recently the company has been reaching out more into the crypto industry through wide-ranging investments to build a massive ecosystem around NFT and the metaverse.

The pace of Animoca Brands' investments has increased significantly heading into 2021. As of December 24, Animoca Brands has made a total of at least 81 crypto-related public investments, including well-known projects such as Yield Guild Games, Bloktopia, GuildFi, ConsenSys, DeHorizon and others. In addition the number of investments made in the fourth quarter of this year accounted for 51% of the year, with over 36% of the projects led.

In December, Animoca Brands also launched a $200 million chain tour investment fund jointly with BSC, and the frequency of investment will probably continue to be fast-paced in the future. Currently, the company's website shows that it has invested in over 150 NFT/meta-universe projects in total.

Yat Siu told Chain Catcher that he believes that in the blockchain space, projects related to the meta-universe are more likely to drive adoption by mainstream groups. And "NFT represents the best opportunity to achieve an open meta-universe," Yat Siu stated.

The size of Animoca Brands investments and the number of lead investments grew significantly in 2021, with an average of one investment made every six days. This is not unrelated to Animoca's own revenue boost and large funding rounds.

According to Animoca Brands' earnings report released in early December, Animoca Brands' total revenue from January to September this year was $670 million, of which revenue from investments and digital asset gains accounted for 79%, or about $529.6 million. As of the end of November, the company held digital assets with a reserve value of approximately $15.87 billion, including $112.1 million in mainstream tokens such as BTC, ETH and USDC, and $456.3 million in third-party liquid assets such as AXS and FLOW, in addition to mostly eco-currency assets such as SAND.

In addition, Animoca Brands also received several rounds of large capital injections in May, July and October this year respectively, with star capitals in crypto and traditional fields including Coinbase Ventures, Samsung Ventures, Sequoia China, Blue Pool and others extending olive branches, and even attracting the participation of venture capital institutions under 3A gaming giant Ubisoft, with the latest round valued at $2.2 billion.

In a March conversation piece on the Animoca Brands blog about "Why Invest in Yield Guild Games," Yat Siu attributed the company's investment spree to an "ecosystem argument. This logic means that Animoca Brands invests in the builders of the NFT ecosystem, even if the other party is a competitor, and ultimately Animoca Brands, as a chain player and producer of NFT, will again "benefit from the ecosystem.

"We believe that true digital ownership (virtual property rights) is the cornerstone that underpins the entire open virtual world: ownership of digital assets allows control over them, which leads to economic freedom, which unlocks economic opportunity, which leads to GameFi opportunities and opens the way for a more equitable society. " Animoca Brands said on its official website.

In its external claims, Yat Siu's investment choices are usually 'values' oriented, and Yat Siu told Chain Catcher that Animoca Brands prioritizes investing in projects that develop an 'open meta-universe' rather than teams that create boundaries and divides like Apple and Google.

In an interview with Decrypt, Yat Siu said he sees a confrontation coming between the open, decentralized digital world and the tech giants, such as the Web 2.0 social media giant Facebook, which used its name change in late October as an opportunity to portray to the public the virtual extended kingdom it is trying to build.

Yat Siu sees Facebook, Tencent and other tech giants that usually have a monopoly on data ownership as the real "threat" as opposed to policy regulation. And Animoca Brands' arguably 'eager' investment is to make that former open meta-universe happen sooner.

In fact, Animoca Brands' investment style is very reminiscent of a16z, with the same high-flying and high-frequency investments, weaving a huge network of resources and connections within the crypto ecosystem, with these headline VCs currently pushing behind many emerging crypto projects.

However, this style of investment is also drawing some criticism, such as the Twitter founder's recent tweet that Web3 is not actually owned by users, but by VCs and their LPs (limited partners), and that Web3 is ultimately a centralized entity with a different label, even alluding to the fact that a16z controls the Web3 concept.

In his opinion, the VCs actually control a large share of the Web3 project's tokens and reap huge profits, far from their vision and contrary to the spirit of Bitcoin, which should be used to fund truly free and open source software.

The above comments have raised many opposing views in the crypto industry, but they have certainly brought more thoughtful perspectives on how VCs can maintain a balance between institutional and public interests, something that a16z, Animoca Brands and even other VCs may need to revisit in light of the huge controversy.

DeFi.

1. DeFi TVL will exceed $1 T USD

2. On-chain reputation will replace the new protocol's ridiculous "whitelisting" process

3. Argent and Dharma will both launch tokens, but will announce them earlier to promote mainstream mobile DeFi adoption

4. UST will remain the #1 decentralized stablecoin, and will grow faster than USDT/USDC

5. Cross-chain bridging infrastructure will be a huge growth area and be built into DEX, revenue aggregators, cryptocurrency marketplaces and other important DApps

6. There will be 9-digit DeFi vulnerabilities, but the total number of vulnerabilities will be less than half of what it will be in 2021

7. Starting in 2021, most "meta-universe" returns will be similar to DeFi

8. Collateralized ETH derivatives will grow 10x from 2021 (rETH, stETH, etc.), becoming the second largest form of DeFi collateral after ETH

9. Under-collateralized lending via KYC and credit mandates will become a growing narrative, with Aave ARC and Maple Finance being the clear leaders, and Compound Treasury a close second.

10. The largest dollar-denominated short sales will come from the ZKSync ecosystem; Zapper, Zerion and DeBank will all make short sales

11. NFTFi will be an important narrative. NFTs from early adopters can be exchanged for tokens, NFTs for reputation/access gating (e.g., Yearn Blue Pill), NFTs that generate revenue

12. A major CEX will partner with Rocket Pool for ETH pledging in an attempt to show support for decentralization. cex will run nodes as well as on-board clients to rETH.

Layer 1.

1. Cosmos app chain will generate the most new wallets, highest returns and TVL growth.

2. Ether merge will be delayed by at least 2 months, but be successful, just like all other hard forks before it

3. Ether fees will remain high, but a DApp will be launched to subsidize gas fees through arbitrage or liquid markets. weiward is a good first attempt, but others will emerge

4. Bitcoin's dominance will continue to decline as the smart contract layer generates more value

5. The multi-chain world will continue to exist and the scalability trilemma will continue to be a topic of discussion.

6. Arbitrum and Optimism will introduce tokens and developer/ecosystem incentives and go beyond the top alternative L1s in 2021 (Solana, Terra, Avalanche, Fantom)

7. Jack Dorsey will continue to be the suprematist of BTC and drive DeFi on Bitcoin/Lightning Network forward by merging elements into Block.

8. DeFi on Bitcoin will not be widely adopted and TVL will grow less than the top SC layers (ETH, BNB, SOL, LUNA, AMAX, ADA, DOT, MATIC, ALGO, NEAR)

9. Major Layer 1 blockchains (> $5b market cap) will be under 51% attack due to lack of sufficient decentralization

WEB3 Culture.

1. Everyone needs interns due to the expanding multi-chain world

2. The trend of employees working for Web3 and crypto natively (builders, DAOs, investors) leaving corporate jobs is not a passing fad and will continue

3. A major celebrity cryptocurrency leader will win a Nobel Prize

4. One of the top 5 tech companies (FAANG) will accept stablecoins directly as payment

5. Discord will advance Metamask integration and become the preferred Web3 workspace

6. Twitter will rely heavily on Web3 after Jack Dorsey's departure

Macro level.

1. At least 5 countries will adopt BTC as legal tender, possibly in Latin America and Africa

2. A major bank will accept cryptocurrencies as collateral for mortgages

3. Michael Saylor and Nayib Bukele will buy more BTC

4. $COIN will outperform $JPM

5. Multiple US House and Senate candidates will accept cryptocurrencies for campaign contributions during the 2022 midterm elections, one of which will distribute NFTs to donors

6. A surge in on-chain analytics will dampen volatility as buyers and sellers (short/long) try to get a jump on the market. The growth of cryptocurrencies will largely depend on macroeconomic policies and behave as a high beta asset for the S&P 500 index. In the event of high inflation, rate hikes and accelerated tapering (hawkish Fed policy), cryptocurrencies will enter a bear market. otoh, a dovish Fed is bullish on cryptocurrencies and inflows/returns will be better than TradFi. the latter scenario and a sustained bull market will play out in 2022.

7. A country will try to issue Universal Basic Income (UBI) on the blockchain

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The Internet, especially the mobile Internet, has been integrated into our lives. We use the Internet to consume information, socialize, entertain, vent or generate emotions, and compose our spiritual world. At the same time, the lack of security and the uncertainty of life are passed to the Internet, using our "greed and anger" for various online behavioral constructs.

Too often in the Internet industry, we are so used to hearing all kinds of "fashionable" industry words that we forget the most primitive forms, the essential patterns, and the underlying behaviors. The impetuous industry atmosphere also makes us look more at the brilliance of the spotlight on stage, but few people look at the emotions of the audience and their state on stage.

Today, TOMsInsight team inspects the underlying story of mobile social traffic and industry ecology with you through real case studies, and the theme of the report is: "Mobile Social Traffic: Is it Sharing or Selling".

Wedge

In the middle of 2015, a county-level city in eastern Henan Province. On a normal day, Achi drove more than ten kilometers from work to a stronghold every day to have a "meeting" with a few friends in the Internet circle, as usual. There were four other participants, all of whom had never missed a meeting, and did not dare to miss one. The content of the meeting was: "What is our next project, how to engage in".

Achi is a local Internet police officer, a marginal figure in this five-member group, but also indispensable: only Achi has a serious job, so he attends every day after work. We don't expect Archie to contribute money or resources, or even to give advice, but for some reason, we all feel safe with Archie on board.

The site is a single house, but in this county city is not called a villa. Archer parked his car in front of the courtyard, and the dog inside the courtyard started barking. A few chairs, a table, the house side smoking smoke, can not open their eyes, but no one will open the window. The table was set up in the morning to eat the remnants of the local specialties of breakfast "spicy soup" and "dumplings", and no one cleaned up.

The leader, A, was still sitting in a dark place in the corner of the room, and his expression could hardly be seen. The curtains are open at one corner, and the dim light shines on three people other than A. Article dark table: Since it is not very relevant to our analysis report, let's call the other three people "three brothers".

"I've said, nothing of value, you do not see now mobile traffic simply can not be sold on the price."

"If you can't sell it, you can play it yourself, and that's the way to cash in."

"We have the patience to optimize it, have that work might as well seal up a local product."

"Shit, fucking local products do not have to raise it?"

... ...

The discussion here is not like the startup party in a first-tier city, there is no "concept", do not want to get any investment, and no one cares what self-worth to achieve and other "pretentious" ideas, to earn real money is the only goal.

Achi listened carefully, for him, the "meeting" here in public and private have a lot of value, this year, a lot of network case clues are provided by A, and he himself can follow A's project to earn some "pocket money", although tens of times more than the salary, Achi still think it is "pocket money". What he never expected was that this day's discussion was the beginning of a story of termination.

Later, Achi felt that the moon looked hairy on this night and always felt that something would happen.

The story: the first stage

The protagonist of the story is Xiao A, 32 years old, a local, popular face. In high school, Xiao A was a popular figure in school, but only in a specific small circle: Xiao A played computer games particularly well, and the games in that era were mainly LAN games, such as Red Alert, Interstellar and Empire. Extended by the game, Xiao A also has a great interest in all kinds of computer knowledge, although limited to buy this county only "computer newspaper" "computer enthusiasts" and so on, but has been the county's only a few "computer room" of the wind.

Little A's academic performance is average, and there is not enough determination. The company's main goal is to provide the best possible service to its customers. In the four years of college, A seems to have learned nothing from the classroom to learn the basics, continue to "not work", but self-taught a lot of technology to keep up with the times. That said, it is also a good time to catch up, with Java, J2ME, as well as some PHP and the then popular WeChat.net and other technical miscellaneous studies, after graduation in Beijing, a Fortune 500 foreign companies Internet companies as outsourcing employees, programmers.

Xiao A never seemed to find self-esteem, as if always outside the mainstream value system: other students to read serious undergraduate, their own on the third; other colleagues are regular employees, their own belong to the outsourcing staff. The feeling of always being inferior also makes Xiao A always looking for his own world with his sword, always unwilling to compete with others head-on.

Little A knows that his background and skills (mainly English) in foreign companies have little hope of turning into a regular employee, let alone climbing up the ladder. The good thing is that the current specific social value of everything can be quantified in money, and Xiao A hopes to make a comeback through other channels: Xiao A spends all his energy and spare time on trying out Internet projects.

Due to the similarity with the work, from 2006 small A began to do site group to eat SEO traffic to net alliance to cash, to 2007, began to cash with Taobao, as well as do special Taobao SEO site, black hat diversion, and even become a rare can Baidu SEM diversion to Taobao profit people. And in those years Taobao best to do a period of time really made some money, but small A is always a person, and the studio play can not compare, but also not scale.

In 2009, A began to use the one-night stand model (i.e., playing one-night stand dating simulation operation, luring users to recharge, after recharging found that nothing can be obtained, thus also avoiding the risk model) website themselves to cash, stepping on the various "dating" wind to do the one-night stand model App.

"The overall industry atmosphere from '09 to '11 was such that LBS was even interpreted as Location Based Sex, and major Internet companies began to operate without finesse. In fact, PC-based one-night stand sites have always been quite profitable, but few people understand them. I was almost the first to copy to the mobile side, at that time to the channel 3 yuan an activation of CPA costs, I can almost still earn half." A told his story to the research analysts of our TOMsInsight team as if he could not finish. But there were more and more imitators, and as usual, Little A was alone and gradually withdrew.

At the end of 2012, WeChat launched the public number function. A did not want to become a self-publisher, but just wanted to take advantage of the traffic bonus of WeChat's public number. "The earliest time to register, there is no ban on keywords, there is no ban on keyword searches, and there is no need to upload handheld ID photos to register. The first thing that I wanted to do was to divert the traffic to my dating app for myself, and then the traffic got more and more, so I simply did CPA to sell the traffic. A is also from that point in time, completely began to around the mobile to "think about things".

In 2013, Xiao A registered several tens of thousands of WeChat public numbers in bulk through "keyboardist", and hundreds of thousands of natural traffic every day, using the development mode of public numbers to directly lead to the download page of the app, which can have tens of thousands of income every day. And in addition, shake a shake entrance is not restricted, small A is also the earliest group of shake a shake simulator players.

"A computer open a few simulators, a few hours also sealed a number. The company's main business is to provide a wide range of products and services to its customers. At that time that good time has lasted for 4 months ah", when talking about that time, small A face of regret and regret.

Although small A in the Internet project a day earn more than their own "work" a month salary, but he still do not want to, always feel that they have to have a job, no job will completely leave the community. Since childhood by Henan serious governmental thinking, and even small A also try the national examination year after year, hoping to become a national civil servant, but every year the results are very poor.

At the end of 2013, the microphone envelope dropped the inner browser direct download and install Android App, Xiao A's main income road is almost completely cut off. At the same time is also this time, small A look at this foreign enterprise in the domestic completely "not on the road" of the rules of Internet operations, as well as their own several years younger leadership childishly commanded, silly as in addition to good English what do not know the product manager, plus "the whole team product revenue is not as good as a person engaged in", small A finally left the job. After the departure of the small A decided to repair some, coincidentally, the family urged to go home for a blind date, simply back home. And the snake has the snake road, the mouse has the mouse road. A's return to his hometown is the beginning of his true "self-worth".

Story: Stage 2

Although Xiao A did not become an official, but after so many years of tossing and turning, he had money to return home. After returning to his hometown, in addition to dating and picking up girls, Xiao A is eating and drinking with his former classmates, and treating them to fun every day. In high school is a popular figure, old classmates stay at home, it did not take long to gather a bunch of brothers around A, and the life of a lonely shadow in the north can not be the same, A also enjoy such days.

After all, the tossing is used to the bottom of the Internet project, the customary use of human nature and social work practices, small A back to this nearly 10 years have not lived in the familiar and unfamiliar city, and from a new dimension to observe also have a new understanding. The four walls of "alcohol, money and sex, not the gods can not jump" A summarized very concisely the state of life in this fifth-tier city in Henan.

There are no coincidences, life is full of occasional. What I didn't expect was that "wine, air, money and sex" all gathered at the same point in time on Xiao A's own body. About 2014 just after the Spring Festival, A and a few high school classmates together for dinner, including the then high school class president Achi, as well as the other three bad study every day playing games and A very close relationship with the "three brothers", three brothers are three or specialist graduation, after graduation home no serious work, get a variety of small business to mix food, since the small A back almost every day and A mixed together.

After three rounds of wine, A began to talk about his troubles: dating is very failed, no girl has the intention, nothing more than a bad-looking, short, currently no job, no car, no house year 30, tell those girls dating, they are very rich, and they do not believe! In Achi and the three brothers of the tirade of enlightenment, small A serious discussion of what car to buy in the end: this place official position must Audi, this place of the girl does not know the car must SUV, the three brothers decided and small A tomorrow together to mention Q7.

And that moment, do used to dating one-night stand mode of small A, suddenly enlightened with a clear understanding and ideas: in this kind of five-tier cities, mobile population, strong acquaintance relationship chain, offline relationship more closely. In fact, there is a fundamental difference between online social networking in Tier 1 and Tier 2 cities, people's acceptance of complete strangers is low (compared to Tier 1 and Tier 2 cities), and even strangers need to have a circle and a label within this circle.

Little A himself has not lived in his hometown for ten years, and has no offline circle attributes, unlike those of other blind dates (government mouth, education mouth, xx hospital, xx school) who have their own labels. In this case, even if they go to buy a Q7, they will be considered to be from abroad, no roots, do not know the roots, estimated to be a fraud, etc., not trusted, how can this work.

No on the creation, small A decided to build their own "circle and label".

The plan was finalized almost on the same day: create a dating club, dating club has a maximum number of 5000 people, the proportion of men and women in half; men and women must be in the local, must be single, using the invitation system; to join the club requires 2000 yuan per year for boys, girls free; boys must have a car, girls must be 28 years old or less; the club uses an app to contact communication, only members The members are strictly confidential, the club remains mysterious and cannot have any public publicity (perhaps imitating the movie "Fight Club"), etc. (More details involving interests will not be detailed)

Little A's many years of accumulated bottom-line Internet experience was a breeze, and the three brothers' several years of local idleness provided ample social resources: the dating club took only three weeks to fill up locally. The app data is not connected, and each city authorizes a separate operation team to protect and charge by way of app authorization.

By the end of 2014, Xiao A's club App was operating in 17 county-level cities in Henan and was fully staffed. Little A did not even register the company, in just one year brother several revenue of more than 100 million, due to the use of annual fee system is expected to have enough income every year, and more room for development. A, however, is not so wildly arrogant or overwhelmed. Foreign companies working level with low also have a certain degree of pattern, as well as the bone of inferiority and years of patience, so small A has a greater ambition.

Little A in the local one year, found that the local unique situation or demand: the local economy in 2014 a serious contraction, the city inside almost no booming economy, the only guaranteed point of work is the civil service or institutions. But for well-known reasons, people are not motivated to work, and the trend is to find various ways to make money in their spare time. And the improvement of the living condition of the residents, higher personal consumption needs continue to arise, especially the young people's group.

C2C transaction demand began to show offline continuously, and the corresponding various micro-business forms began to develop rapidly in the WeChat ecology. Micro business mainstream profitable single page play, small A lightly familiar with, from Baidu bidding to Taobao brush single + Taobao guest, is not new at all, just a change of platform. Small A's experience understanding, sooner or later the channel backwards products, traffic is the most scarce.

And the decentralized nature of the mobile Internet, there can be no central entrance. The flow nodes centered on individual users, and the shared flow network, also heralded a very different way of playing with the PC side.

Little A started to use a large amount of cash to assign cash sharing tasks to raise their mobile social network. The specific approach is to develop their own App as a tool platform to assign tasks, and share specific links to receive cash bonuses. Whether in WeChat or other mobile, up and down lines, pyramids, multi-level distribution (packaged into three levels), a nominal fee for advertisers, all the energy spent on cultivating their own traffic platform network.

Little A bone still wants revenge, he can never get over his inferiority complex, just like Mark inside "Social Network", buy the xxx club into his own ping pong room, become the only way to spit out that breath.

Story: Stage 3

Although Xiao A lives in the county, many of her own relatives are in the countryside. Almost all the women in the rural areas of this place peel garlic and give a few cents for a pound. Garlic is exported to the United States, and the peeled garlic in the rural areas of Henan is directly exported, washed and processed before being exported. For many years, the garlic in Xiao A's house was secretly "left behind" by her rural relatives to send, and was called "American garlic".

This model has marked Xiao A deeply. More people are more powerful, and more people can change the shape of any product. And Little A's network had grown to the weight of several million people by mid-2015. "Any article, divided into tasks on my platform, can have millions of retweets, millions of tens of millions of reads, all true, and the cost per IP is less than 10 cents. At this time, Xiao A seems to have forgotten about the life of an outsourced programmer in the north and the task of dating locally.

WeChat's rectification of micro-businesses in the first half of 2015 also confirmed Xiao A's vision. Ultimately what remains is the channel, mobile traffic accounts for more and more large, especially social sharing, there is a strong effect but no centralized placement channel. Especially the locational specific regional traffic purchase and advertising placement.

From the middle of 2015, small A, three brothers, Achi, began to discuss how to make the traffic channel to cash. The discussion has been going on for a long time. The discussion had been very sensible and the debate was very heated, but in the end, an extremely wrong decision was made: eventually they chose to use Internet finance to cash in.

In China, many business laws are counter-intuitive, especially for small cities. Different regional locations, user groups, even have 180 degree opposite results. The Internet model is very much all behavioral characteristics exactly. Unlike online social networking, small cities approach Internet finance with a completely different set of options.

In a place where traditional private lending has completely consumed the trust, even if you can't borrow money with a property bet on a car. An Internet finance site with no qualifications, just a few pictures or an app, and some word-of-mouth spreading, can get a large number of working retired people to throw money around. This behavior is very counter-intuitive, but it is true.

Starting in mid-2015, Little A's mobile sharing network began to frequently promote the sharing of several Internet financial products, including some 'big company' products and some localized products, and the promotion made a big impact. Catching up with frequent interest rate cuts and the stock market downturn, these high interest rate products were sought after by local users, even opening a large number of promotions in the county to entertain them.

In October 2015, one of the Internet finance companies ran away, and it was like a domino-like chain reaction. The runaway behavior seemed to be contagious, resulting in a large amount of money that could not be recovered. It caused a lot of commotion in many county-level cities in Henan, but again 'counter-intuitively', the commotion soon subsided and the city returned to its usual calm.

Only when people got together to drink did they reveal their anger, cursing, crying and various emotions, and the next day when they woke up, they still walked silently with their heads down, as if they were afraid that others would notice them, and they didn't dare to mention how much they had invested in the "wealth management plan", let alone complain about their rights. The honest people silently cried and also silently tried to 'live'.

From that day on, no one has seen Little A, and no one has mentioned it. It was as if he was still floating in the north.

Little A has never explained why he chose to do so, and from his background and mentality we might be able to guess a little.

But his dating club did not fall, dating club app is still operating, as if they did not know these things. The three brothers are still waving around in their luxury cars as if nothing had ever happened. The only thing that happened was that the daily meetings were cancelled. The dating club was still very lively, with 1 vs 1 driving tours in full swing, and young people who didn't have a place or the conditions to join the club were as anxious as hot pots of ants, even forcing their elderly parents to buy themselves cars, even though they knew their families had just been 'cheated out of money'.

Archer continued to return to his job as an internet police officer, as if none of this had happened. He is glad that he always thought that those are "pocket money", and he is more convinced that people must have a "serious job" to live. Every day at work, Archie pays attention to the Internet technology media and the self-published media. The "innovation that changes the world" seems so beautiful to him, but it feels so unreal and distant.

The Internet in Archie's eyes is always different from those in the technology media, so different that he can't believe it himself.

Lessons for us

Sometimes, we choose to get drunk and forget; sometimes, we choose to let alcohol help us believe. Under the stimulation of alcohol, the truth is no longer important, there are only memories and the lingering of time. We often forget our original intention and walk around being swayed by various interests and emotions, but why would we want to.

When we clamor for various "disruptions" at the same time, whether we are often looking at their own hearts. The real satisfaction of user needs is already one of the purposes and meanings of the industry development. Ask yourself, what exactly are we pursuing in the industry? Maybe it's just to satisfy ourselves, maybe we're just doing it for some kind of emotion. But eventually time will tell us that these are meaningless.

Finally, let's use a song lyric to encourage us: "Sword and sword is not my school, the sky and the sea have my style. Hands a push is not black nor white, not good nor bad no victory and how to defeat. There is no going where there is coming, no sword in my hand no dust in my heart is my mind, follow the fate and come with the wind is my mind.

First of all, ready-to-wear or custom-made

Generally speaking, I do not agree with men who can afford to buy finished suits, because men and women are different, suits and shirts are standard, and suits do not change to fit. To show your difference in the crowd, a suit and shirt that perfectly fits your body and aesthetic sensibilities is very necessary. To achieve this, a custom-made suit is necessary. If the economic ability or the surrounding custom conditions are not met (I mean don't go to the Luohu commercial city or Dongjiadu a custom store system to set clothes, and definitely not the tailor store next door to your home or Guanqi foreign clothing), then, I personally think that the better low-cost finished suit brand is: domestic blue panther, the United States brooks brother. As for customization, it is divided into three kinds, the highest level of bespoke (completely you say, how you want to do it), the middle level of made to order (in the fixed version according to your western good change), the second level of made to measure (according to your size change, generally known as semi-custom), Chinese nationality of the current customization I see is in the made to order and The rest to do to bespoke, you have to be in Hong Kong or Savile Row in the UK. If you walk into a men's store or men's counter, to judge whether it is one of the signs of professionalism, is that it has a shopkeeper in doing fitter, is the hand with a sponge ball full of needles, and then take a soft ruler to help you tailor such people, can have fitter, at least can also do made to measure. but in the mainland major luxury brand men's stores, rarely seen. Do not think that customization is very expensive, in fact, if you have the intention to buy a 10,000 dollar suit, then customization is much cheaper than the finished product. For example, Zegna, a suit finished more than 20,000 to 30,000 is very normal, and the fabric is not from Italy into the original goods (generally Jiangsu Sunshine or Shandong Nanshan production for a label), and custom it, made to order a little more than 10,000 or even cheaper to get it.

Then say how to choose the suit fabric

The most important thing about suits are two points: fabric, cut. Most men choose the opposite, first look at the brand, then look at the cut, and finally care about the fabric. And this is why many Chinese entrepreneurs wear tens of thousands of Zegna suits, but still feel the problem of painting tigers like cats. This is also why real estate agents and insurance wear a formal dress is still very cheap sense of the reason - the fabric betrayed everything, the human eye is very picky, you may not know what fabric is good, but generally will feel straight to find out what fabric is not good. Good fabric can make you clothes Bi quite, can let you breathable, lightweight, in short, can make muscle men wear like James Bond kind of yuppie.

First of all, the raw material of the fabric, chemical fiber fabric, please go to the side of it. --pashimina --shahpashm ----Capra-Hircus --Vicuna, guanaco (lovely grass mud horse) in this order, a little expensive up. For most people at work, more than 95% of pure wool material is OK. Next to say that the fabric a parameter: the number of counts Simply put, under the same conditions, the more counts of the fabric line the thinner, the lighter, the more expensive. But the pursuit of high count is not meaningful, generally speaking 120-150 counts of wool fabric is enough for your wedding suit.

In terms of fabric, if you live in the south, then the ordinary Italian fabric is more suitable for you, because they are generally based on light, if you live in the north, or winter and autumn to often wear suits, then the British fabric suitable for you, in addition to remember, in the world of men's formal wear, Britain will always be the first, Italy will always be the second, France in the third row like the British, as for the United States, the more like the British brand The more like the British brand, the more senior.

British fabric representatives: Holland Sherry, Dome, Shijiazhuang. The world's most expensive, a little too expensive, more beautiful like the French brand, but like the British, cost-effective, Holland Sherry

Cost-effective, Harrisons is Edinburgh, a little bragging, a little expensive, to pure cashmere to see. Italian fabric representatives: Zegna Loro Piana: Cerruti 1881, VBC is the most common. VBC fabric, for example, in Shanghai's best custom-made to do a set of about not more than 10,000 yuan, generally 8000 to get. Specific fabric prices I will not say, but also to let people make money ah. I can only say that

I can only say that the top fabric is not as expensive as you think, a suit, for a medium height male, three pieces of material is about 3.2m-3.6m. The material used for the top plus pants is about 2.8m-3m (non-industry data, to my personal experience estimates). Zegna's ready-made clothes, according to my estimate, the cost plus labor is around 3000. In general, the finished suits of big brands, such as Armani, will be marked on the inside of the breast pocket with the brand of the fabric, such as Cerruti.

If you go to a purely bespoke store, then you can ask the master to make you what you want. If you are willing to go to a suit store that offers semi-custom service, then you'd better try it on first, understand the different styles of different brands, and ask the store staff to help you make suggestions, or generally look at the posters of people, that model style is like, you find and their own similar. For example, the British style suits are basically "straight", the weight is also relatively large, the shoulder pads are thicker. Italian suits are relatively light, with thin shoulder pads and a more rounded shape. Like KITON, my husband doesn't fit because he thinks it's "too snug", and yes, most Italian suits have this problem, tight and sexy. Then, there are several types of suits

The most serious suit, the next set of simple advice, if you first suit, then choose dark blue black, not pure black. In addition, choose the British style. As for whether to horse clip, may not choose.

The next blazer single wear top, with metal buckle, to navy blue is authentic, this single wear suit is transferred from the army uniform, the following with facecloth pants or khaki pants.

The most casual is sport jacket, is what we generally say single wear suit, can be worn casually at work, not so slim. You can use tweed, linen material, the most authentic is tartan material, but it is difficult for Oriental people to wear well.

Finally, the tailoring

There are too many details here, I will simply say a few principles to determine whether the ready-to-wear or custom is good enough.

Primary level

1, the sleeve button is not a real buttonhole. (Some Italian suits are not) 2, is not a non-plastic buckle (metal, horn, jewel, wood buckle is better) 3, is not non-bonded lining (inverted lift up the suit corner there is no another layer) 4, is not the inner sleeve lining and large lining is not the same (because the sleeve friction is large, the good suit brand generally use two different lining)

Intermediate level

1、Where there is a stripe or check pattern, the pattern is not done neatly (Shi Ge can do, Yamin Xingchang and WW.CHAN Shanghai store can not do, Hong Kong store can do)

2, the location of the pocket stripes under the suit, whether the stripes are completely aligned or replaced with colorless fabric.

3, the location of the underarm sweat-absorbing patch, is the general lining used or the lining consistent with the outside material

4、Is the barge head made by hand?

5、Can you do blazer.

6、know that the Naples suit is a sailboat bag.

In the days before radiator heaters were available, fireplaces were the most common way of heating in Europe in the winter.

The mature emergence of radiators in Europe is widely recognized as the late 19th century, with the rise of the European nobleman's residence in 1890, when the use of cast iron relief single column form, extremely expensive, as a luxury in life popular in the upper class. Later, this form was introduced to the Soviet Union, and then from the Soviet Union to China.

In 1900-1920s, along with the convenience and comfort of heater heating being widely recognized by factories and the need to be used in upper-class social places (such as churches and theaters), the multi-column, cast-iron relief heater with larger heat dissipation was produced. Meet the larger space of the building.

Between 1920- 1930s, the first revolution of heaters produced single-column steel heaters, which significantly increased production and met the needs of society in larger quantities.

In the 1930s-1950s, as people's standard of living continued to improve, most people abandoned the basic way of heating by fire. A higher standard of living was sought. This gave rise to the mass production of heaters, namely multi-column cast iron and multi-column steel heaters.

In 1950-1960, people had already healed the wounds of the Second World War. The results of the industrial revolution were better and the standard of living was further improved. While people were satisfied with the comfort of heating, they also had higher requirements in energy saving and environmental protection, as well as aesthetic decoration. Copper plate heaters were favored by people for their large heat dissipation, simple and generous appearance and moderate price, and became mainstream products.

From 1960 to 1980, considering the high heat transfer coefficient of aluminum, people hoped that it could replace cast iron and steel heaters. But because of the rough and simple cast aluminum profile and can not solve the problem of alkaline water corrosion, so in the 1980-1990 period, the mainstream of heaters returned to steel. But people demanded that its appearance must be consistent with the modern home style and meet the requirements of humanization and personalization. According to the level of production technology at that time, most manufacturers generally used argon arc welding process plug welding to produce smooth lines of tube heaters. There is no prescribed latitudinal dividing line for the use of heaters around the world, in fact, heaters first emerged in Italy in southern Europe, only in China, whether to use heaters is recognized as limited by the Yangtze River or the Huai River. However, the presence of heater gas can still be seen in old houses in the 1970s in Jiangxi and other provinces and cities, indicating that at some point in time, Jiangxi also had centralized heating.

Many countries in the southern hemisphere use radiators as well, because the southern hemisphere is just the opposite of the northern hemisphere seasons, not warmer than the northern hemisphere. For example, in Sydney, Australia, many apartments and houses are equipped with heaters.

Read professional books at the very beginning of the most basic things patience, do not want to seek fast, spend more time and effort to clarify the basic concepts, in-depth understanding, do not care about the speed of others.

Own reading professional books if the purpose is to learn and understand, will not be limited to one or two books, will spend time time to collect the book list, and then do the theme of reading.

For reading professional books, you can try the following methods. - Subject reading - Thesaurus

1, thesaurus: the biggest problem at the beginning, to get some professional terms clear, understand what each word is aware of, not the book induction try to use their own words to write down the understanding of the word, try to be more common, as your understanding deepens, and constantly revised. The degree of understanding of some specialized vocabulary often determines the effectiveness of your reading.

1. Theme reading: At this time, instead of reading just one book, it is best to do theme reading and prepare 20 or 30 books to read together. Some books may be bad, but sometimes can explain the concept of a good. If you can't read one book, change one, for important concepts and ideas will be repeated and elaborated in different books.

2. Reading notes + mind map. Through the mind map first roughly delineate an overall framework, professional books can be done by chapter, the focus of each chapter first summarized. For a certain detail, the book said may be very wonderful, then part of the book excerpts into reading notes. At the beginning is to record the main points, in the later stage of finishing will add some of their own ideas and reading experience. Sometimes you can make a separate mind map with your own insights and ideas, which will be very valuable after you summarize and refine them.

When doing the mind map, if the book is very good, there will be sufficient time to make adjustments 4 or 5 times. - The first time to start making all the points in the book. - The second time to make their own understanding of the main points of the mind map made to integrate and adjust. - The third time you start to cut down and keep only the parts that are useful to you. - The fourth time to make a new mind map according to the 5W3H way - The fifth time to put the content of this book into the knowledge tree of personal industry, to add and expand. This knowledge tree is completed through reading, practice and accumulation of own reflections. (http://www.write.org.cn This Blog currently has nearly 300 books about the mind map, interested to see, are provided with the source file to download. )

Telling stories

There are many things very difficult to understand, then you can try to make up a story to explain these concepts, see how well you can make up the story. Try to use to spread what you have learned, and connect it with reality, write out your insights on the Blog, do PPT, mind maps.

1. Take a few of the books mentioned above as examples.

   • Mankun's principles of economics and "an economic lesson" together, first to understand some basic concepts of economics clearly

   • Stumpf's history of Western philosophy: figure out how many schools are explained in the book, and what are the characteristics of each school. If you really don't understand it, look for the works of each school and continue to read them in depth. Recommended to read along with Pei-Ying Fu's Philosophy and Life.

   • Intermediate Financial Accounting: Go to "Why Won't the Bamboo Peddler Fall? The book is a good example of how to make money in a dumpling restaurant and a fine dining restaurant. These two books put the financial basics in the story, very easy to understand.

   • Java6 Basic Tutorial published by Tsinghua University: Read the syntax several times, then build a Java programming environment and start knocking code. In the process of writing code, slowly understand, if you just read the book without hands, then you will never learn.

(This mentioned several books, there can be searched in that Blog above to the mind map)

Read with questions

Or read with a problem, write down the problems encountered, and prepare a list of problems at a time.

The rest of the stuff is to read it again and again, summarize it over and over again as you repeat it, and stick to it.

If you read a book and think that all the places in the book are the focus, then you basically did not read to understand, the main priority is not clear. The first step in reading is to first distinguish between the main and secondary.

Metaphors and analogies are powerful learning techniques. (People often mistakenly think they have mastered a concept, but when learning new knowledge, it is important to make connections with other concepts and concrete examples in the body of knowledge as much as possible (the more the better), and then be able to explain a knowledge in simple and clear terms to truly understand it. (Same as Fudan professional class answer pattern, same as Feynman technique, same as Lachel reading point of view)

Do not draw too much focus when studying, because it may give you the illusion that you remember the content of these crossed out, and advocate more refinement of the central idea in the process of learning. For what we have already mastered, there is no need to keep repeating the study, you should spend more time and energy on the parts you feel are the most difficult.

Spaced repetition: repeating something 20 times a night is not as effective as repeating it a few times a day, reviewing it regularly and turning it into long-term memory.

Sleep is also very important for learning. Your brain also repeats the complex knowledge you learned during the day while you sleep, which can be helpful in solving problems and understanding knowledge. What you read before you go to sleep is more likely to enter your dreams, and dreaming about it helps you understand it.

It is important to exercise. In addition to walking, bathing, listening to music, and other ways to relax will help you get into dispersion mode. Exercising frees you from your previous concentration, allowing dispersion mode to have a chance to present itself, and exercising is good for growing new neurons in the brain.

Address procrastination

Convert things that require willpower to get done into habits to get them done, and life will stay productive There are four parts to habit building: cue, routine, reward, and belief. Like I didn't want to brush my teeth in the past, but gradually it became a habit and didn't require any willpower. I think in the future, when I get used to doing math and reading professional books, it will be so natural. To establish good habits, we must first overcome bad habits, and I think progress is the process of constantly breaking out of our comfort zone. Think about this phrase during the process of willpower depletion, I'm having a hard time because I'm making progress. This is a process of improving willpower, for example, I am now starting to think actively when reading a book, although it will be uncomfortable, but thinking more is also in the exercise. I realized that with a guaranteed sleep time (6-7 hours), I can get up when I wake up naturally and don't have to go back to the cage, so getting up immediately after waking up naturally is also a process of exercising willpower.

In addition, you can use other methods, exercise, and meditation can improve willpower and focus.

Tip 1: Focus on process rather than product (Focus on process rather than product). The tomato method works because it allows you to focus on the process for 25 minutes. (Create a mind flow experience)

Tip 2: Make a plan, weekly list of key tasks, and daily to-do list. weekly plan of key tasks, and daily to-do list.

Tip 3: Keep a journal to record growth and progress, give yourself more encouragement, and develop a growth mindset

Tip 4: Do the hardest things first. Because the harder the more you need the most adequate brain power to fight, and the most difficult and easiest to procrastinate things are solved, the later are good to do. (Proof of Cai Tong energy management)

Skill five: try to meet the difficulties first. (In the process will find a solution, first action, do not find excuses to delay)

People will always have such an illusion: when a rough impression of the whole of a thing, they will think they have understood the thing, in fact, the grasp of its details, it is likely to be less than a tenth. The same goes for learning. Very often, you think you have learned, but in fact, you have only left an impression. And asking questions is the best way to find the details. Each answer to a question is a refinement of the body of knowledge.

For example, reading. When faced with a large book, do not attempt to read it all at once, you can do this: first quickly browse through the table of contents to know what it is about, then, ask a few questions of interest, according to the questions to read. You can read it jumping, reading it along, reading it backwards, reading it in any way you want, until you have solved these problems. During this process, you will definitely encounter new questions, so write them down first. When the previous problems are solved, then solve the new ones.

The process of finding problems - exploring problems - solving problems is a small process of "feedback". The human brain is constantly getting "feedback" to generate "satisfaction", which in turn makes the brain think "this behavior is beneficial to the individual", and thus motivates us to continue to engage in such behavior.

By dividing large goals into smaller goals, on the one hand, smaller goals are easier to achieve and generate satisfaction; on the other hand, smaller goals do not cause you to have high expectations, which leads to high stress, and reduces the accompanying emotions such as anxiety, frustration, and numbness. Because the vast majority of these emotions are caused by the difference between the status quo and the goal. Since you can't change the status quo, reduce the discrepancy and go trick the brain.

Changing yourself is a long-term process, don't think about doing it in a short time. Take your time. Make a good plan for each day, execute it strictly, don't ask for results, don't hold the mindset of having to suffer, and inadvertently you will become the person you want to be.

Keep reviewing

Quickly focus on getting into shape

1. Give yourself 5 minutes to start and accept the emotion of just starting

2. Engage your whole body in learning by mobilizing your body, such as taking notes, reviewing, etc.

3. It's normal to wander off, just bring your thoughts back. If it is important, write it down for now and deal with it later

4. don't worry about the future, don't compare, and continue to do your own thing on your own path (focus on the present)

The so-called "finger reading" is to use the finger or pen to move down the line, the speed should be steady and a little faster than the eyes feel. This is to force the eyes to follow the finger or pen movement, and then improve the reading speed. An added benefit is that this will increase the level of concentration and greatly reduce the chances of desertion.

This method must be practiced consistently, starting with one line at a time, and then slowly becoming two or three lines, so that one day you may be able to "read ten lines at a time". You may think this method is stupid and dumb, but isn't there this saying - those who are great, use the dumb way. I believe that as long as it has been persistent, even stupid methods will have great effect.

One thing to emphasize is that it must be pointed out line by line, not word by word, which has been abandoned.

Second trick: skimming

1. browse the title, preface, publication introduction, table of contents, index, etc., to grasp the theme and framework structure, to determine whether there is a need to read on.

2. Pick a few chapters that are relevant to the topic and read them. Focus on the beginning and end of the chapter and the first sentence of each paragraph. 3.

3. then, open the book, flip through the east and west, read a paragraph or two, read a few pages in a row, but not too much, mainly pay attention to the message related to the theme. 4.

4. finally, the end of a book two or three pages must not be ignored. There are few authors who don't rehearse the points they think are important at the end.

After a brief reading, you have pretty much understood the main content of a book. If this understanding has met your requirements, you can put it down; but if you find that it is a book worth reading intensively, you can start reading it a second time. The second time you read it, you should use the "analytical reading" method.

The third trick: rough reading

"Rough reading" is mainly used to read more difficult books. Especially when you want to read a classic book that is not in your field of knowledge.

For example, two weeks ago, I wanted to read Fei Xiaotong's "Fertility System", and I was ambitious at first to study this masterpiece of sociology, but I found that it was very difficult to read, and the author had his own framework for explaining things, which was very strange to me. So, with perseverance, I gave up after a hundred or so pages, and still haven't picked it up today.

"Rough reading" is the solution to this phenomenon. The rule is: the first time you face a difficult book, read it from beginning to end first, do not stop to query or think about what you do not understand. Read the part you can understand first, finish the book, then go back and read it a second time, then you will find that you can understand more content.

I wrote about the benefits of writing down the thought process of problem solving in an article "Learning to Solve Problems with Polya" most of the year ago, and the same holds true for regular thinking.

The benefits of writing are as follows. - Writing is a memo for thinking: when people think about a problem, sometimes it is difficult to go back to the place where they went off on a tangent once they have thought too far. And the thinking process will be recorded, it gives us the possibility to completely retrace their own thinking trajectory. For example, when facing a problem, we often come up with several main and key thinking directions, but if we don't have notes, we can only start thinking one by one, and then we forget what the second point is. If I take notes, I will first list out the key directions of thinking, and then expand one by one. If I find something new in the process of thinking about any branch, but I don't have time to think about it, I will use keywords to write it down, and then go back and think about it later. In a way, the notes serve as a memo here.

- Writing is communication with others: everyone's thinking has some blind spots, and the reason why blind spots are blind spots is that they are difficult to perceive. The more I learn about the characteristics of human thinking, the more I realize from the bottom of my heart how important it is to discuss with people, everyone's blind spots are different, your blind spots can be supplemented by others, and others' blind spots can be corrected by you. Herein lies the meaning of three stinkers topping one Zhuge Liang. The most important value of writing down and communicating with others lies in this. In addition to blind spots, it is generally difficult to be aware of gaps in our own body of knowledge, and if we make a serious mistake in our own thinking because of our ignorance of an important piece of knowledge, it is generally difficult to reflect on it

- if you don't know something, there is a high probability that you don't know that you don't know it either. And writing out your own reflections so that others can find the holes is a good thing for your own body of knowledge.

- Sometimes, language itself also thinks: when it is not put into writing, the existence of ideas in the mind is often more vague and abstract, sometimes even in the form of images, however, if you need to write it out, or even write it out for others to see and communicate with others, you must use written symbols, which actually have their own set of systems, called in computational linguistics Semantic network, the same concept, vague feeling in the brain, and explicitly expressed to reach a particular word, is not the same. You will use a particular word and thus think of another word, and as you write you will find that some words bring out other words as if they had a spirit of their own. Sometimes this effect can lead to writing becoming a word game, but the upside is that there are times when it can be beneficial to broaden or inspire the mind.

Before you start writing your ideas, I know that many people don't write because they think there is nothing to write about. In fact, this is a strange circle, the more you don't start writing and always take the limited cache of thinking to meditate on a problem, the less content you have to write about. If you force yourself to write down some immature ideas, look at what you have written and try to expand them further, it is possible to be on the rational of going far, far down the road.