Sunday, November 1, 2020

Privacy Computing: What can we do to protect our data security?

 How important is data privacy?

Taking face recognition as an example, face recognition technology is being widely used in payment transfers, unlocking and decrypting, traffic cases, real-name registration, account opening and cancellation, access control and attendance and other scenarios. Each item affects our property, health, and privacy. Wait for safety.

Just in a CCTV news report in the evening column, the reporter found that on a certain online trading platform, you can buy thousands of face photos for only 2 yuan, and more than 5,000 face photos are less than 10 yuan. , A single face photo is less than 1 cent. These photos are from real life photos and selfies shared by real people on social networks. If the user's identity information is superimposed on it, it is likely to be used in crimes such as precision fraud, money laundering, and criminal involvement.

How much private information we have left on the Internet and how many platforms we have left it, I am afraid that we can't even remember it. And we know almost nothing about the ultimate destination, use, and security of these data.

In recent years, my country has initiated relevant legislation on the protection of citizens' personal data and privacy, such as the "Network Security Law" and the "Civil Code", which all have legal provisions for the protection of personal information. The "Data Security Law" and "Personal Information Protection Law" are also in the process of soliciting opinions from the whole society.

The promulgation of relevant laws is more a guarantee of rights protection after the fact, and the protection of personal data and private information still needs to be started from the source, that is, each network platform realizes the comprehensive protection and supervision of data from the technical level.

At the same time, data transaction and data circulation have become an important issue restricting the development of my country's big data industry. How to obtain credible and high-quality data through legal, compliant, safe and efficient means has become an urgent problem for many technology companies and platforms.

On the one hand, there is a flood of data privacy leaks of users, on the other hand, it is difficult for relevant enterprise platforms to obtain effective and compliant digital resources. This contradiction has caused more and more companies to call for a new data governance and application solution.

So far, a kind of privacy computing (Privacy Computing), which is used to protect data from leakage, but can realize data analysis and calculation, has been officially put on the agenda.

The "Millionaire" Problem: The Origin of Private Computing

"Suppose two millionaires meet, and they both want to know who is richer, but they don't want to let the other party know how much wealth they really have. So how do you let the other party know who is richer without the involvement of a third party? "

This is the "millionaire" hypothesis put forward by Academician Yao Qizhi, the 2000 Turing Prize winner in 1982. This brain-burning problem involves such a contradiction. If you want to compare who is richer, the two must publish their real property data, but the two people don't want the other to know how much their wealth is. So, in our opinion, this is almost an unsolvable paradox.

This seemingly difficult problem involves the ownership and use rights of data. The wealth owned by the rich is the ownership of the data, and the publication of the wealth data by the rich is the right to use the data. At present, when major Internet platforms provide services to you, they basically obtain both the right to use data and almost the actual ownership of the data. Although users retain nominal ownership of the data, most people will Keep it on these platforms, and few people will advocate that the platforms destroy data.

Faced with the careful consideration of two "millionaires", whether there is a technology that can separate the ownership and use rights of data, allowing the rich to disclose wealth data to this technology platform, but after a series of encrypted data calculations, finally Only give the corresponding result (who is richer). For Internet platforms or companies that need user data, what they get is no longer the ownership of the original data, but a set of data that is first encrypted to provide services to the data demander?

Understand this assumption, you can understand the general idea of ​​privacy calculation.

In privacy computing, this is a professional encryption problem, which can be accurately expressed as "a collaborative computing problem between a group of untrusted parties, under the premise of protecting private information and without a trusted third party." Secure Computing Protocol. While proposing the idea, Academician Yao Qizhi also proposed his own solution "Multiple Secure Computing" (MPC).

When MPC was proposed in the early 1980s, it could only be used as a technical theory that urgently needs to be verified. With the continuous improvement of computer computing power and the increasing application and importance of private data, MPC technology is also gradually improved and applied.

Now, in addition to the progress in MPC technology, privacy computing has also shown more new technical features and solutions. So, what are the specific developments in the current technical preparations and industrial applications of privacy computing?

Privacy computing gestation period: the eve of large-scale applications

Why is privacy computing becoming more and more important now? Not only the leakage of personal privacy data of citizens mentioned at the beginning has reached a stage that urgently needs to be governed, data has also become the most important core asset of enterprise platforms, and enterprises have already motivated to fully protect and use compliant data on the platform. .

We see that this year, for the first time in China, my country has defined data as the fifth major production factor besides land, labor, capital, and technology. Not long ago, the "Draft of the Personal Information Protection Law" reviewed by the National People's Congress stipulates that if the violation of personal information rights and interests is serious, the illegal income shall be confiscated and a fine of less than 50 million yuan or less than 5% of the previous year's turnover shall be imposed. The 5% quota even exceeds the EU GDPR, which is known as the "most stringent data protection".

Whether it is for data compliance and legal considerations or for data application considerations, companies are increasing their efforts to protect data privacy. According to the latest strategic technology trend forecast by Gartner, an international research organization, privacy computing will become one of the nine key technologies to be digged in 2021. Gartner also predicts that by 2025, half of large enterprises will use private computing to process data in untrusted environments and multi-party data analysis use cases.

The emergence of these new trends puts forward new requirements for privacy computing and will also provide a broad range of industrial application requirements.

From the technical side, there are two mainstream solutions for privacy computing. One is a solution that uses cryptography and distributed systems, and the other is a solution that uses trusted hardware to receive multiple private data input and output.

At present, the cryptography scheme is represented by MPC, which is realized by professional technologies such as secret separation, inadvertent transmission, obfuscated circuits, and homomorphic encryption. In recent years, its versatility and performance have been significantly improved, and it has practical application value. At present, trusted hardware technology is mainly based on the Trusted Execution Environment (TEE), which builds a hardware security zone, and data is only calculated in this secure zone. The core is to still leave the data trust mechanism to hardware parties such as Intel and AMD. Because of its high versatility and low development difficulty, it can play important value in scenarios where data protection is not strict.

In addition, in the context of artificial intelligence big data applications, "federated learning" is also the main promotion and application method in the field of privacy computing.

In the new technology cycle represented by artificial intelligence and big data applications, privacy computing has put forward higher data governance requirements for Internet platforms and enterprises, that is, truly user-centric, without relying on the enterprises themselves or third-party companies The controlled data server provides security protection, allowing users to truly control their own data ownership and protect data security and privacy requirements.

On the industrial side, privacy computing application scenarios continue to expand.

For example, in the financial industry. Domestic privacy computing products are currently mainly used in risk control and customer acquisition in the financial industry, that is, a number of financial-related institutions conduct joint portraits and product recommendations to customers without disclosing their personal information, which can effectively reduce them in scenarios such as long-term loans. Default Risk.

In the medical industry, through privacy computing technology, medical institutions and insurance companies can analyze the health information of insured persons without sharing the original data. In the government affairs industry, privacy computing can provide solutions that integrate government data with social data such as telecommunications companies and Internet companies. In the relevant plans of some local governments, privacy computing is expected to become the focus of the next application promotion.

In the future, privacy computing will be widely used in many fields with sensitive privacy data such as finance, insurance, medical care, logistics, and the automobile industry. When solving the problem of data privacy protection, it will also help alleviate the problem of data islands in the industry. It is a large number of AI models. The training and technology landing provide a compliant solution.

A long way to go, the predicament and way out of data privacy computing

Now, as social development enters the era of data elements, mobile Internet enters the second half and the international situation is unpredictable, the data element issues have become more complex. In the field of privacy computing, the legal positioning of the safe use of citizen data, the analysis and application of data within and between enterprises, and the global cross-border transaction and circulation of data are all facing unprecedented challenges, and there are also problems in each link. .

First of all, with regard to the legal provisions on the safe use of citizens’ data in privacy computing, my country’s laws have not yet clearly stipulated whether privacy computing is legal. In existing regulations, “network operators shall not provide personal information to others without the consent of the person being collected. "The goal of privacy computing is to calculate based on multi-party data, which in principle violates this requirement, but at the same time it also applies to the exception clause that "a specific individual cannot be identified and cannot be recovered after processing." These have become the first legal bottlenecks restricting the development of privacy computing.

Secondly, there is still a certain degree of difficulty in applying privacy computing in enterprises. For example, the data standardization and data quality of most enterprises cannot support the requirements of privacy computing for data consistency among participants. The complexity and computational efficiency of privacy computing itself put forward higher requirements for large-scale commercial use of enterprises, and the cost of trial and error is high. In addition, private computing has a certain "black box" effect for users who really benefit. It is difficult for people to understand and trust private computing technology, and the cost of popularization and acceptance is high.

In addition, cross-border transactions and flows of global data are now facing numerous difficulties. For example, in the US government's attack on TikTok not long ago, one of them was to accuse it of collecting data from American citizens and to prevent it from storing the data on Chinese servers. Ireland in Europe also asked Facebook to order it to suspend the transmission of data of its EU users to the United States. In 2016, the European Union first promulgated the world's most stringent data protection program GDPR, stipulating that the consequences of non-compliance with data privacy regulations will be severely sanctioned and huge fines. Previously, Google got a high fine of 50 million euros issued by the French data protection regulator. Recently, the Swedish H&M company was fined 35 million euros for illegally monitoring employee privacy.

In the context of the tightening of new data supervision and the complex international situation, companies engaged in data cross-border activities need to reconsider their underlying architecture design. To avoid cross-regional cutting and disposal of data, but also to avoid falling into the monopoly of hardware giants, adopting new privacy computing solutions has become an important task for some companies involving cross-border business.

These application dilemmas of privacy computing urgently need to be resolved by various parties, including the active promotion of governments of various regions and countries around the world, especially the definition of the rights and responsibilities of privacy computing by laws and regulations, and the governance of corporate data by big data-related companies. Continuous investment in intensity.

So for related technology companies that promote the development of privacy computing, there are now a series of new development trends.

The first is the emergence of blockchain technology, which provides a new solution for private computing. The application of privacy computing to the blockchain not only increases the immutability and verifiability of private computing results to a certain extent, but also increases the confidentiality of data on the blockchain. It has become the technology integration direction of many manufacturers. For example, a permissionless private computing service uses TEE trusted computing nodes all over the world to ensure the stability and security of private computing.

Secondly, software and hardware collaboration and platform integration are greatly improving the performance and convenience of private computing. This enables the hardware acceleration and capability arranging of privacy computing through the platform infrastructure to achieve a full range of capabilities from storage computing to modeling and mining.

In addition, private computing is also moving towards large-scale distributed computing, and its implementation methods are more diverse. Some projects through low or even zero code development code that can greatly reduce development efficiency and reduce development threshold Privacy computing products.

In the end, we see that in the "digital rights era" when data becomes more valuable and data security becomes more and more important, privacy computing will become the most important gatekeeper between user data security protection and the enterprise's use of data value. Privacy computing companies must play the roles of data management and service providers, but this role is no longer a simple role of checking data for the "two rich men", but can provide them with a full range of data protection. Able to carry out full operation of data "assets" for it.

It is foreseeable that privacy computing will play a pivotal role in the future data governance and data collaboration between enterprises and organizations, as well as the commercial applications of emerging digital industries such as artificial intelligence and new infrastructure.

MINIEYE received RMB 270 million in Series C financing to promote mass production and delivery of autonomous driving perception solutions

 Shenzhen Youjia Innovation Technology Co., Ltd. (hereinafter referred to as "MINIEYE") , an autonomous driving perception technology developer, announced the completion of a 270 million yuan Series C financing. Investors include Harvest Investment, Oriental Fortune, Yuanjing Capital, Hixih Communications, Shanshan Venture Capital, and old shareholders NavInfo and Kang Chengheng continue to increase their holdings.

Liu Guoqing, the founder and CEO of MINIEYE, stated that the Series C financing will first be used to ease the supply chain pressure caused by large-scale delivery, increase cash flow reserves, and ensure that the procurement needs of OEMs are met in a timely manner; on the other hand, continue to invest in advanced Maintain the competitiveness of technologies and products in the development of autonomous driving technology.

MINIEYE was established in 2014 and mainly develops autonomous driving perception and decision-making solutions. The company has chosen the "gradual" route from the beginning of its establishment, gradually advancing from L1 to L2 to L2+ level, developing automated driving technologies and products that can be mass-produced, and in 2018, cooperated with OEMs to achieve pre-installation mass production.

At present, the OEMs that carry out pre-installation and fixed-point cooperation with MINIEYE include General Motors, Jiangling Ford, SAIC, BYD, Dongfeng, Sinotruk, Shaanxi Automobile, Jianghuai, Jiangling, etc. At the same time, MINIEYE also won the L3 project designation of a commercial vehicle OEM. Commercial vehicle after-installation customers are mainly large-B fleets, including SF Express and Shenzhen West Bus.

Liu Guoqing said that MINIEYE's current series of products facing the front-end and rear-end markets can provide a wealth of data sources. One type of these data is traffic environment data, including data collected by sensors such as cameras, radar, and ultrasonic; the other type is driving behavior data, including steering, accelerator, brakes, etc. By learning the operation of the driver in a specific scenario, the system can make better decisions.

"The war of autonomous driving is actually a war of data. Data is a scarce resource, and the more important it is in the future. Although I am an algorithm, the advantages of algorithms are actually diminishing." Liu Guoqing It was mentioned that using data to drive research and development is very important in the technology chain of autonomous driving, and it can also broaden the boundaries of business models.

A typical application case of MINIEYE in data is to help customers update relevant data of high-precision maps. Taking the strategic investor NavInfo as an example, MINIEYE uses mass production equipment to return data in real time according to specific needs, helping NavInfo to maintain the "freshness" advantage of high-resolution maps. MINIEYE's data business is also growing rapidly to form scale income.

Liu Guoqing said that because of the explosion of the commercial vehicle market this year and the increase in equipment assembly rates, their revenue this year will increase by more than 250% over last year. The specific figures cannot be disclosed for the time being.

The full text of the Grayscale Bitcoin Investment Report: Wealth transfer promotes BTC as a mainstream investment target


Grayscale Investment is currently the world's largest digital asset management company. They have conducted research on Bitcoin investors for two consecutive years, aiming to make in-depth analysis on the changing attitudes and opinions of Bitcoin. It has been more than ten years since Bitcoin was born, and it has become one of the most concerned issues for investors, consultants, financial institutions, service providers, regulators and policy makers. As more and more stakeholders come to the discussion table of this emerging asset, it is bound to bring a variety of new perspectives and perspectives to the entire industry, and it will also help us better understand how digital currencies adapt to existing Global financial system. However, Bitcoin has not really integrated into people's daily lives, and its development is also in its early stages.

2020 is different from any previous year. The new crown virus epidemic and the subsequent economic recession force individuals, small businesses, large companies and governments to make major strategic adjustments in the short term, and also force investors to take corresponding measures. . According to Grayscale Investment's survey and analysis, people are more and more interested in safe harbor assets than in 2019-given the market situation, this trend is not surprising. As of October 27, the total scale of Grayscale Asset Management has reached 7.5 billion U.S. dollars. The transaction price of Bitcoin Trust Fund (GBTC) was 15.67 U.S. dollars per share, an increase of 8.97% from the previous day; the transaction price of Ethereum Trust Fund (ETHE) It was US$62 per serving, an increase of 7.98% from the previous day.

In addition, this year’s survey can also see that certain trends are still continuing. Although there are obvious differences in the market environment, no matter what type of investor you are, you need to fully understand the opportunities faced by Bitcoin as a new asset class. And challenges.

Survey conclusions and survey methods overview

Grayscale Investment research found that people's interest in Bitcoin is rising. In 2020, more than half of American investors are interested in Bitcoin. In 2019, 36% of respondents expressed interest in Bitcoin investment products, and this year this number has increased significantly to 55% (more than half).

Investors are becoming more and more interested in Bitcoin, and the vast majority of Bitcoin investors have invested money in the past 12 months.

Grayscale Investment reports that 83% of Bitcoin investors will continue to invest in 2020, indicating that digital currencies have become an increasingly attractive component of modern investment portfolios. in particular:

1. 38% of Bitcoin investors have invested in the past four months;

2. 26% of Bitcoin investors have invested in the past 5-6 months;

3. 19% of Bitcoin investors have invested in the past 7-12 months;

4. 17% of Bitcoin investors have not invested money in the past year.

The outbreak of the new crown virus in 2020 is the main driver of bitcoin investment. 38% of bitcoin investors have invested in the past four months, and two-thirds of them said that the new crown virus epidemic prompted them to invest in bitcoin.


As shown in the figure above, 63% of the Bitcoin investment respondents surveyed stated that the decision to invest in Bitcoin was due to the impact of the new crown virus epidemic, and 37% said they were not affected by the epidemic.

Grayscale Investment stated that this survey was supported by 8 Acre Perspective. They conducted a survey of 1,000 American consumers between June 26, 2020 and July 12, 2020. The respondents were 25-64 years old. . All the interviewees participated in some form of personal investment, and their household investable assets were all above US$10,000 (excluding pensions and real estate), and their family income was all above US$50,000.

Bitcoin is being accepted by the mainstream

Although Bitcoin was only a niche asset that attracted a few investors in its early stages, it is now increasingly being accepted by mainstream investors. According to this year's Grayscale Investment survey:

1. In 2019, the number of potential investors in the Bitcoin market was approximately 21 million, but in 2020 it has grown to 32 million.

2. In 2019, 53% of investors said they were “familiar” with Bitcoin, but this has increased to 62% in 2020.

3, more than 50 percent of respondents predicted that digital goods coin will become the mainstream in 2030. 

In terms of demographics, there is not much difference between investors interested in Bitcoin and other types of investors, except that the average age of investors interested in Bitcoin is slightly lower-the average age is 42 years old, which indicates contrast The average age of investors who are not interested in Bitcoin is 49 years old. Apart from this, investors interested in Bitcoin look very similar to "normal" American investors in most other respects.

"Key Features" of Bitcoin Investors in 2020

From 2019 to 2020, although the number of investors who have shown interest in Bitcoin and those who are more and more familiar with Bitcoin has increased significantly, the "main characteristics" of these investors are still relatively consistent:

1. Compared with investors who are not interested in Bitcoin, most people who are keen to invest in Bitcoin are men, young people and employees;

2, Bitcoin investors, the highest proportion of people between the ages of 25-34, said Ming investment capital Bitcoin who have not yet entered into the "Revenue mature" stage;

3. Most investors who are interested in Bitcoin will also look for other investment opportunities. They have "active" risk tolerance, not only holding investment accounts in many companies, but also paying close attention to news hotspots in the consumer finance industry;

4. The higher the formal education that investors receive, the more likely they are to invest in Bitcoin. Among investors with a master's degree, 29% invested in Bitcoin; while those with a university degree Among investors, 22% invested in Bitcoin. It is worth mentioning that among all Bitcoin investors, only 17% have not obtained a degree from a higher school;

5. Among investors who have invested in Bitcoin (approximately 23%), there are twice as many men as women;

6. Among the female investors surveyed, 47% said they would consider trying bitcoin investment products (43% in 2019);

7. Among female investors interested in Bitcoin, 66% expressed a strong desire to invest.

Incentives for Bitcoin investment

Some of the factors that led to people's interest in Bitcoin in 2019 also resonated with many investors in 2020.

In 2019, 59% of respondents indicated that they would make a “small investment” in Bitcoin and are willing to invest more over time; by 2020, this proportion has increased to 65%. For people who have just entered the cryptocurrency market, this is indeed an important consideration, because Bitcoin is different from stocks and bonds. It is easy to buy a small amount of Bitcoin, and most stocks and bonds can only be done on the trading brokerage platform. Get "special" services for small transactions.

Bitcoin has been regarded as an asset with great potential for value-added, and it is also one of the important factors that more and more people are paying attention to. In 2019, 51% of investors regarded Bitcoin as an asset with potential for value-added; one year later, in 2020, this proportion rose to 59%-and among investors who are already interested in Bitcoin, This proportion is as high as 79%.

Investors seem to have "relaxed" their cautious attitude towards Bitcoin investment products, possibly because people's awareness and education levels have improved. In 2019, 69% of investors interested in Bitcoin said that a good investment record would affect their investment decisions. This number has dropped to 58% in 2020.

However, the market’s demand for Bitcoin “education” is still high. 58% of respondents said that if they can get more education related to Bitcoin, they will be more willing to invest. Given that more than half of American investors are interested in Bitcoin, financial advisory companies and other professional institutions should seize this opportunity to provide people with more education services on Bitcoin to cater to the growing investor base.

The COVID-19 pandemic has had a major impact on Bitcoin investment decisions

The new crown virus epidemic has already swept many countries around the world, and it has also had a greater impact on businesses and the investment community. According to Grayscale Investment's research report, two-thirds of the respondents who have invested in Bitcoin in the past four months said that the new crown virus epidemic has affected their decision to invest in Bitcoin. JP Morgan Chase (JPMorgan) analyst in August 2020 found that some retail investors, especially in the light cast funders main reason for choosing to invest Bitcoin is to respond to new virus outbreaks crown brings market uncertainty. When asked whether the new crown virus epidemic has more or less affected the choice of Bitcoin investment products, the number of people who answered “yes” was three times higher than the number of people who answered “no”.

According to the respondents’ answers, Bitcoin seems to have some things in common with safe-haven assets, such as:

1. Scarcity;

2. Verifiable;

3. There is not much correlation with the traditional financial market and it is out of control.

Therefore, investing in Bitcoin is similar to investing in traditional safe-haven assets. Investors interested in Bitcoin account for approximately 62%, of which:

1. The proportion of people who believe that they are certain (or likely) will make safe-haven investments during periods of market turmoil and economic downturn as high as 82%;

2. The proportion of Bitcoin as a "safe haven investment" is 38%, and the proportion who will definitely not consider Bitcoin as a "safe haven investment" is only 4%, and the others are somewhere in between.

What’s “interesting” is that the largest age group of people who see Bitcoin as a “safe haven asset” is 35-44 years old-this is not surprising, because they have experienced three recessions in the past few years , Has also witnessed that the performance of traditional hedging tools in market hedging is actually not satisfactory. As people's confidence in traditional "safe haven assets" is shaken, more and more investors will choose other more suitable alternative investment products, such as Bitcoin.

Financial advisors and Bitcoin opportunities

Financial advisors trusted by customers usually have a significant impact on their investment decisions, and this is also true in the Bitcoin market. 31% of respondents and 40% of investors who are considering investing in Bitcoin said that if financial advisers recommend Bitcoin to them, their willingness to invest will be stronger.

For financial advisers, the opportunity to cater to these investors is much greater than they thought. Nearly half (47%) of the respondents indicated that they would communicate with their financial advisors to make decisions about whether to use Bitcoin investment products. This means that financial professionals have a great opportunity to help clients incorporate Bitcoin investment products. In their portfolio. Among the respondents who have already developed interest in investing in Bitcoin, up to 75% said they would consider investing if their financial advisor recommended Bitcoin to them. Among all the investors interviewed, more than half (55%) said they would consider referring to the recommendations of financial advisers.

For investment consultants, time should be spent on self-education on digital currency, so as to have more opportunities to cooperate with young investment groups and provide them with bitcoin information and investment guidance services. Possessing professional knowledge in digital currency can help financial advisors establish relationships with clients who are still in their early career but have not yet fully utilized their potential income. When recommending bitcoin investment products to clients, most people pay more attention to investment Return, so the following picture may be more helpful for investment advisors:

Although the Bitcoin market is promising, there is still some resistance

Although there are many indicators that investors are becoming more and more interested in Bitcoin, the digital currency asset industry still faces some challenges, especially certain groups of people are always not interested in Bitcoin investment products. For example, in the 55-64 age group (the oldest people in the survey), only 40% of the respondents said they were “familiar” with Bitcoin, and only 30% of the respondents said they would consider using Bitcoin investment products .

Among the respondents who are not interested in Bitcoin, most of them are also elderly investors. They are usually close to retirement and therefore hope to get investment income as soon as possible. In addition, among those who are not interested in Bitcoin:

1. 81% of people believe that the price of Bitcoin fluctuates too much;

2. 84% of people believe that Bitcoin is too risky for their investment status.

This type of investor is a risk aversion. Basically, most people will gradually reduce the risk tolerance of their investment portfolio as they grow older. When evaluating the overall market opportunities of Bitcoin investment products, we need to consider a factor, namely: older investors have more wealth than younger investors, and younger investors are expected to inherit inheritance from the older generation in the future . Well-known asset management and research firm Cerulli Associates real estate agency chain brand Kuwait International Real Estate (Coldwell Banker) estimates that over the next few years later, has $ 68 trillion will be transferred from generation to Generation X and Baby Boomers to Millennials. By 2030, millennials (who are more inclined to consider Bitcoin investment) will have five times the wealth they have today. Therefore, although the investment power of young people is not strong enough, their investment potential after the redistribution of wealth in the next few years cannot be ignored.

There are other issues that have also attracted the attention of investors (not limited to older investor groups). For example, 70% of respondents believe that Bitcoin is vulnerable to cyber attacks, but if it is properly protected, it is even the most Powerful hackers cannot crack Bitcoin. Investors may confuse cyber attacks with exchange theft. In this case, hackers have been able to use inadequate security measures to access digital wallet passwords. This is actually a robbery of a specific exchange or service provider’s digital bank. It is also illegal. Of course, investors also question the security of the US dollar. After all, someone can rob the bank and take cash from the vault. In fact, security has always been one of the most concerned issues in the financial industry. As security measures have been fully improved in the past few years, substantial progress has been made in related issues.

In addition, 63% of investors expressed concern about the regulatory status of Bitcoin, and 62% of investors believed that the government does not have any supervision over Bitcoin. The results of this survey may be somewhat inconsistent with reality, because government agencies in the United States and many countries around the world have regulated and supervised the Bitcoin ecosystem. In the United States, the Internal Revenue Service (IRS), the United States Commodity Futures Trading Commission (CFTC), the Financial Crime Enforcement Network (FinCEN), the United States Securities and Exchange Commission (SEC), and the Federal Reserve regulate Bitcoin in some way. As of 2019, 32 states in the United States have enacted or passed legislation to accept or promote the use of Bitcoin.

in conclusion

In 2020, Bitcoin seems to be gaining recognition from the investing public, and people’s interest in investing in Bitcoin is also increasing. More than half of American investors have expressed interest in investing in Bitcoin—this is a household with 32 million households, each family A huge market with more than $10,000 investable assets.

Traditional stock markets are becoming increasingly volatile. Once the correlation between asset classes collapses, more market participants will introduce Bitcoin into their investment portfolios. Financial advisers will play an important role in the Bitcoin ecosystem, this digital currency revolution in large part by a new generation of highly-liang good education investors start pushing, they will use the Internet a lot of information to make investment decisions.

The digital age has arrived, and more and more people will definitely turn to digital assets. Although most Bitcoin investors do not have much income at present, there will be 68 trillion US dollars in wealth transfer to tend to tend to In the hands of the younger generation of digital currency investment, this is a huge opportunity for Bitcoin. Digital currency has come a long way in the past ten years, and now more and more investors are interested in this type of digital asset. Good days may be ahead.

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