Year-end review: the benefits of digital marketing gifts in 2021

2021 is the small end of the digital advantages of the era of warring states, and it is a major historic milestone for the entire digital financial industry. In 2021, Central Bank Digital Currencies (CBDC), Cryptocurrencies (Crypto), Metaverse and Web3.0, including rapidly changing markets, challenging global environment, and deeper regulatory environment.

So what are the highlights of the past year? A list of key events in the digital currency market in 2021 will be provided by the conference documents.

1. Cryptocurrency Reviews by International Financial Markets

The world before the new epidemic was a time of low and even negative interest rates. In such a financial environment, holding cash is your worst investment choice. However, in March 2020, due to the rapid emergence of the new disease, international investors abandoned stressful products to withdraw money, and the markets Global markets, consumer goods, real estate and markets digital assets have all fallen. This amounts to a time when money is not held in the context of a "low cost, environmentally friendly world government".

So from 2021 to the establishment of the vaccine crisis and the real fear that this money will be returned to the assets of the financial industry. In this analysis, as several vaccines failed to make significant changes in the global spread, the rise in the US dollar remains strong, and crypto digital assets, represented by Bitcoin, are a clear target for investors around the world.

Data for the pair shows that the spread on BTC futures will increase from January 14.14 to April 39.39 in early 2021, indicating that the market will enter the bull market. never before. Of course, the BTC trading space has grown rapidly. In January and February, BTC rose more than 90%. By 2021, the cryptocurrency's market capitalization will exceed $ 3 trillion, overtaking tech companies like Tencent and Apple, becoming the world's largest "listed companies". In terms of the economy as a whole, the “crypto republic” has become an indispensable force in financial markets, just behind GDP in Britain and India after Germany and fifth in the world.

(Bitcoin futures price difference, data source: Tivanic digital financial terminal of partner data users)

In this escalation, analysts believe the Treasury Department approved the creation of the first federally recognized cryptocurrency bank Anchorage in January, largely driven by entry from businesses and countries, and Tesla included BTC in February. Last October, the announcement, the first Bitcoin ETF in the United States, was listed in the United States, and Coinbase Exchange also completed listing on the Nasdaq. Hundreds of Bitcoin ATMs in total mean that cryptocurrencies have gradually moved from a “game industry” as a leading investor to specialized financial markets by organizations.

DeFi decentralized finance has gradually expanded with the size and uniqueness of the crypto financial industry. According to partner data, “Legal Money Challenge,” which shows the size of the top 5 DeFi blockages compared to $ 5 managers' wealth management, has grown six-fold in 2021. Arrives in September. The ups and downs as well as the market turbulence indicate that the market has experienced significant bubbles this year.

(Source de données DeFi DeFi Decentralized Financial Challenge Index : Tbanic Digital Financial Terminal, Peer Data)

(DeFi decentralized finance benchmark interest rate, data source: TBanic Peer Data digital finance terminal)

At the same time, base interest rates in the financial services sector gradually fell from 18.98%, the highest for the year, to 3.81%. In December, the yield on 10-year US Treasury bonds rose 1.46%, almost identical to the benchmark for the financial services industry.

One of the main reasons DeFi's profits are lost is that more stable coins have poured into the DeFi ecosystem, resulting in lower operating costs. In addition, the additional stimuli allowed to flow also began to decrease. Many DeFi contracts offer unique features as well as financial support for lenders and lenders. As the recovery began to wane, so did the recovery in loans and mortgages. This will lower the interest rate.

In the second half of 2021, the cryptocurrency market again traced that "the first major coin will rise, then the coin with micro-market value will rise." The emergence of a new energy has created legends that have been confirmed millions of times, as well as subcultures of Dogecoin, SHIB, and community-type tokens (such as MEME). Then various variations of ICOs and profitable initiatives began to flourish and trade disputes resurfaced. At the end of the last century, the cryptocurrency market has become more volatile and volatile, and the current price gap is narrow. It is generally believed that institutions have started to control the economy and to diversify their capital. Affected by many, the uncertainty of the future however in the crypto industry has increased further.

Many organizations and business tools must enter the financial business, but the financial business is full of financial and more risk. Upcoming 2022 can be the key to turn point to financial access to encryption. It is the future to achieve the jump out of the grass to the theme. Or a large collection, crying will be all of all kinds of financial studies. Focus on the direction of the next visit of the next year.

2. A digital bank is planned.

With the rich profits and the volatile cryptocurrency market, the digital fortunes of global financial institutions are improving rapidly. According to data from Peking University, a recent study by the International Monetary Fund found that 80% of the average banks in the world are: There is a possibility. Results for the next 6 years.

Fed Chairman Powell told a press conference in April that the United States was embarked on a rigorous plan to understand the intellectual and political issues associated with digital advantages. President Powell has declared that the US dollar is the most valuable currency in the world, which means that the US dollar is used more than any other currency in the global economy. He said the United States didn't need to rush digitization, it was more important to think and do the right thing.

But barely a month later, Powell conducts another public consultation, the Fed will release research papers on the US central bank's version of digital currency (CBDC) and the former US Commodity Futures Trading Commission (CFTC). President Chris. Giancarlo said in June that the United States would make the water CBDC-free. The United States must be open to this new development. The subcommittee on national security, international development and monetary policy called a “meeting; in August, Fed chairman Powell released a public statement declaring that “digital securities collection is over. American attitude towards advertising.

Compared to the Fed turmoil, most other countries have a positive attitude towards the central bank. The central banks of France, Sweden, Japan, South Africa, South Korea, India, Russia, Thailand, Jamaica, Indonesia, Chile, Ghana, United Kingdom, Brazil, Kazakhstan and other countries have established currency banks digital or will try CBDC in 2021 did. job.

(Preference for digital profits of mid-sized banks in some countries. Source: Tivanic Digital Financial Terminal)

The Bank of Egypt announced in April that it would allow local banks to issue their own digital currency as a watchdog, and the Central Bank of Iran to provide cryptocurrency services to support digital banking businesses. hope to do so.

In June, Singapore's financial institutions (MAS), the International Monetary Fund (IMF), the World Bank and the Asian Development Bank (ADB) joined forces to create a digital intermediary market. Payments. An international competition has started. Twelve major issues in three priorities: CBDC equipment, CBDC references and CBDC infrastructure.

The attitude toward the European CBDC has always been active. June 30, Central Bank Digital Management Vilagate Digital euro and the European banks pay for Europeans. On the 14th, the bank of the European economy reported the digital EC Project to solve key issues such as Digital euro developed and broadcast. President Ukrain Ukraine sign the "Payment Program" In the same month to help the middle bank account to provide CBDC. Now, more than 30 European banks now develop business and payer cards will make foreign businesses such as visa and mastercards.

As part of cross-border payments research, Australia, Malaysia, Singapore and South Africa joined forces as a cross-border digital bank in September to test whether it can reduce price changes and make them easier. Hong Kong Fintech Week was held on November 3, with the support of the Innovation Center of the Hong Kong Bank for International Settlements, the Digital Currency Research Institute of the People's Bank of China, the Hong Kong Monetary Authority and the Bank of China. book to explore and experience various cross-border payments. In December, the Swiss National Bank and the Banque de France announced that the European Central Bank's (CBDC) 's first digital currency cross-border payment trial had also been completed.

In October 2021, Nigeria, an African powerhouse of 200 million people, said a digital banking company. This is what the government is giving to the private sector, and it will be a milestone in the history of CBDCs.

In 2021, the digital exploration of the Chinese yuan will stand out. Renminbi digital wallet connects directly to 6 major banks including Commercial and Commercial Bank of China, Agricultural Bank of China, Agricultural Bank of China, Financial Institution of China. , Send money and company phone, and connect with 50 APP application scenarios. Meituan, JD.com, Eastern Airlines and Ctrip. In the 10 driving counties, several commercial banks worked with the Financial Services Corporation to conduct a variety of red envelope experiments.

(Digital Yuan Pilot City Red Envelope Data, Data Source: Tbanic Digital Financial Terminal with Consumer Information)

In September, at the financial services trade fair presented in Shougang Industrial Park, the People's Financial Corporation of China Digital Currency Research Institute, for major banks and the Internet. We are also working hard to prepare the Yuan digital scenario app around the Beijing Winter Olympics. Early next year, with the Dongfeng Summer Olympics, the time is right, the digital renminbi will be introduced to the world, in addition to the acceleration of the use of the digital renminbi.

(Digital RMB APP data source: part of application scenarios supported by TBanic Digital Financial Terminal)

Partner guests compile information and include bank statements. According to data, since October 2021, our country has opened a total of 140 million digital personal wallets, 10 million bank wallets, more than 3.5 million application scenarios, 150 million commerce and nearly 62 billion yuan in the packaging industry. To do.

Central bank digital currencies (CBDCs) also became a hot topic at the G20 summit, and most G20 countries believe that digital banking businesses cannot be accepted and should be issued. .

In converting metal to aluminum foil, China was the top producer of gyoza, and at the time it was one of the first foils certified by 16 major manufacturers. Since then, with the development of gyoza, various gyoza provided by private companies have emerged, leading to conflicts similar to modern virtual currency. After use, the use of payments to 16 merchants is completely prohibited, and the "legal payment" method provided by the government is similar to the process of developing from encrypted digital currency to central bank digital currency.

Compared to the dream of the cryptocurrency market, the digital profits of midsize banks are still in the early stages of exploration. In the era of digital currency states of war, cryptocurrencies are the “nomads” of the global economy. He will not go away because of politics. He will oversee the entire financial system, looking up and looking at the world. It will integrate, compete with and favor “national farmers” (eg digital banking) for a long time, which will become the fundamental importance of building a digital financial business. Learning about the cryptocurrency market can help digital financial institutions better understand themselves and their enemies and compete with cryptocurrencies around the world.

3. The metaverse, digital collections and the rise of Web3.0

In the summer of 2021, a strange group of 10,000 pixels continually became popular. Opensea international digital collection platform. From crypto art and games to avatars and texts, the rise of NFT has kept the meta-world and Web 3.0 thinking endlessly, sparking industry madness.

The pair released the industry's first Meta Universe price index since March 2021, and the indicator has grown more than 10-fold, and its products and services have benefited greatly from the international investment firm. Recently, new concepts such as virtual reality, digital people, meta-globalization and meta-globalization have emerged.

With the rise of the NFT concept, digital writing has also started to break out of the circle and reach thousands of families. According to partner guest records and Alipay public records, since Alipay first announced the Dunhuang Feitian digital payment code collection on June 23, 46 sets of 237 digital notes, a total of 29, 45 million digital collections, provided by AntChain. On November 11, sales reached 37,787,000 yuan.

The second-largest digital writing market is still booming, with some products being purchased for 19.9 yuan, up to tens or hundreds of thousands of pieces per month. At the same time, blockchain games are also appearing among a large number of people, buying gaming equipment, playing games by paying taxes to get new NFT equipment, and selling to make money. Some competitive games have very high rewards and high risks. The many jobs that drive demand such as "games running on blockchain partition storage" which is a fact that cannot be done for big sports that can be successful. In fact, these games are generally very simple, not just blockchain games, but small games that add to the blockchain token market.

Since last October, executives have been in talks with related companies such as Tencent and Alibaba. Half a month ago, Tencent and Ali updated the NFT for platform-related products, making it now a "digital collection." Tencent and Ali have both stated in their consumer rights that digital devices cannot be marketed and limit expectations.

The second half of the year saw the emergence of more places to support policies and businesses across the country, developing a variety of investment strategies and developments in meta-space, innovation and competition in the market. . Market capitalization in terms of whether a metaverse concept is 'tech' or 'SF', whether NFT digital collections protect 'copyright' or 'property', and whether Web3.0 is a 'technology concept' . I started. to estimate information about metauniverses, digital collections, and Web3.0. If cryptocurrency is a market dominated by speculation, the risks associated with the current bubble and the meta edge market will not be huge. However, it cannot be denied that the world as the 'digital uniqueness' of the metaverse has opened a new window for the digital application scenario, which is still only at the beginning of the digital transformation in' the twins. digital ”.

(Source of Metauniverse price measurement data: Tbanic Digital Finance Terminal of Companion Customer Data)

Contrary to their good attitude towards cryptocurrencies, tech experts are astonished and bossy. Twitter developer Jack Dorsey said Web3.0 was just "a scam to make VCs stand out," while Tesla developer Maskr wrote Metaverse. You want to attach the screen to your face every day. Indeed, US tech users have repeatedly said, 'Blockchains are fakes, but cryptocurrencies will last forever. »0 Reasons for Negative Impact.

The advocacy and evangelism of the Metaverse were also opposed. Binance CEO Zhao Changpeng said, “Blockchain can solve this problem. Entrepreneurs participate in the global funding that made the Web3.0 project successful. Anderson Horowitz Fund partner Balaji Srinivasan (a16z) also argued that "Web3.0 has better performance, no guarantees".

Conflicts between Metaverse, Digital Collections, and Web3.0 will remain unanswered until 2021. They will continue into 2022 or later. Look forward to the new impact of the development of new technologies in the financial industry.

four,Global migration of crypto miners

2021 could be one of the most significant periods in the history of cryptocurrency mining.

In the first quarter, the price of bitcoin rose, bringing in huge sums of money for the cryptocurrency mining industry. Workers in China have worked with local governments to set up parks to prepare for flooding. In the second quarter, the Chinese government announced tougher rules to crack down on Bitcoin mining, and within a short period of time almost all mines were shut down and Bitcoin was relying on every one of them. It has become the history of Bitcoin. One of the lowest losses.

The Cost of Electricity Used by Bitcoin According to data released by the Cambridge University Research Center, including Consumer Data, as of 2020, the world will spend 14.937 billion kWh mining Bitcoin in a year. Comparing the data shows that the electricity production of some small and medium-sized countries is much higher than the electricity used by Bitcoin mining in a year. China was once the world's largest market, with the volume of extraction accounting for about a quarter of the total electricity consumption in the world, this is a big deal for China for the purpose of carbon support. One of the reasons why China introduced a ban on cryptocurrency mining.

(Changes in the global distribution of Bitcoin count as energy after analysis. Source: TBanic Digital Financial Terminal)

In the first half of 2021, the number of Bitcoin in miner sites peaked at 2.14 million in May. After the announcement of the Chinese rule, miners' Bitcoin holdings fell to 100,000 Bitcoins, or 5% of their height, in the short term, enough to build on short Bitcoin sell prices.

More than 90,000 bitcoins left miners' sites in the two days following the Chinese government's ban on cryptocurrency mining. Net outflows collected two drops of 30,000 bitcoin, meaning the amount of bitcoin left on the miners site was 30,000 more than the total income from gifts or deposits. The increase in miner outflows and negative cash outflows indicates that miners' addresses have been sold and funds have been withdrawn throughout the mining migration process.

Before the restrictions, the market was a huge market, so miners generally benefited greatly and there was a market for international migration. When the sanctions were first imposed, Kazakhstan was a better destination than the United States. Kazakhstan has low electricity tariffs, friendly policies, and similar relations. Unlike the United States, Kazakhstan has high penalty rates. However, with the onset of winter, Kazakhstan began to experience power shortages and the Kazakh government began to crack down on unauthorized gray mines. Under these circumstances, many Chinese companies spoke favorably to Kazakhstan and returned to Russia and the United States. The United States has good economic standards, good legislation, and good electronics, and high taxes and high construction costs are a problem. However, in the current situation, the United States has become an option for big miners. The United States is run by Texas, and almost all of the major Chinese companies have offices in Texas. In addition, some mining companies have set up shop in African countries where electricity prices are very cheap, considering the cost.

Six months after the exchange, in December 2021, the overall strength of Bitcoin's network relied on what it did before everyone in China was mining.

(Bitcoin's entire network includes the power of data: Tbanic Digital Financial Terminal, Peanke Data)

At the same time, due to the decision to follow, crypto companies will only continue to register in 2021. Currently, there are North American public market mining companies led by Marathon, Riot, Bitfarm, Hive, Hut8, etc., and China Capital controls mining companies such as Ninetowns, Bit Mining, and BTBT. Bit Deer is also expected to be listed next year. However, there does not appear to be any news from the names of the two big names, Bitmain and Shenma. The transformation of the mining company into a publicly traded company improves the financial capabilities of the crypto mining company, allowing miners to become long-term holders of their core business.

Experts expect Bitcoin to calculate that the strength of the entire network will increase to 300 EH / s in 2022. At the same time, as the Fed raises interest rates, the value of Bitcoin appears to fall. . As a result, all the benefits of mining are drastically reduced. The implementation of Ethereum 2.0, which is capable of moving from POW to POS, is also expected to be completed by mid-2022, which will have a major impact on the crypto mining industry.

V. Awakening of global regulators

As the value of cryptocurrencies has risen and these new assets have become increasingly important in finance, and central banks are always on the lookout for digital advantages, there has been a further surge in l global digital financial sector review this year. . Today, the rapid growth in the scale of digital assets and the role of criminals such as money laundering and risky investments has led to the rise of holistic consumer management to solve the management problems of consumers. digital assets.

The attitudes and lines of digital financial management of the major countries of the world are not the same.

China has generally received complete restrictions on virtual currencies and is actively improving the quality of the digital renminbi. By 2021, China is banning all mining and bitcoin trading, the Huobi Exchange is removing all users in mainland China, and other exchanges are closed or closed. As for the digital renminbi, although it is still in the experimental stage, there are many cases of fraud and money laundering using the digital renminbi in China. .

The United States has followed a "strict compliance and oversight" approach to finding Bitcoin ETF names and IPOs on the Coinbase exchange, and also has close watch on Binance. In December, Maxine Waters, President of the U.S. Financial Services Support Group, chaired a conference entitled "The Future of Resources and Finance. Representatives who wish to pass the hearing are here to gain an in-depth understanding of crypto assets and discuss regulatory compliance with the law. During the nearly five-hour hearing, executives from six major cryptocurrency companies appeared to explain the future of crypto technology to everyone.

While most European countries are open to cryptocurrencies, they have raised concerns about regulatory issues and the establishment of regulatory frameworks. The Central Bank of India initially planned to ban cryptocurrencies, but the bill was delayed and has not been passed in parliament for a long time. Japan's national tax service has overhauled its cryptocurrency system and plans to strengthen its cryptocurrency regulation. Korea plans to tighten financial protection controls on cryptocurrency exchanges, close 90% of domestic unlicensed exchanges, and tax the cryptocurrency exchange by 2022. The Central Bank of Russia is still planning to restrict cryptocurrency.

In 2022, governance will be a key goal for global digital advantages. In a fast-paced and rapidly changing world, countries around the world are thinking about how to implement policies. Governments around the world are grappling with the problems of the crypto industry, from stable money to uncertain financial data, and some fear that inconsistencies, inconsistencies or what is called the carpet will cost a lot of money. 'money to investors and solve this new problem. do other property taxes and other matters.

Last written:

(Highlights 2021, Source: Tivanic Digital Financial Terminal)

Looking back, 2021 is a good year, and still a year in the history of digital finance and profits. Satoshi Nakamoto opens Pandora's Box on October 31, 2018 at 2:10 p.m. From crypto digital currencies to central bank digital currencies, NFTs, Metaversees and Web3.0, the digital financial industry has been around for 13 years. Digital results have also shifted from geek toys to new kinds of other tools that impact the world. In the process, one person came and another left, there was Zhu house, the guest of the banquet, the collapse of the house, laughter, tears, innovation and confusion. The information with the guest has all of this information and records this whole story. It will be a precious memory for digital finance professionals.