jakiro
I just returned to Australia after my trip to the United States.Before leaving, I thought that after this trip, I would definitely be able to write a few short essays with unique views and profound ideas to explain the current situation and trends of the United States.As a result, I really picked up the pen and seemed to have many images floating by in front of me, but I felt my mind full of empty mind.For more than two years, I have traveled to many places with crypto as the perspective, but there is no place as difficult to write as the United States. This country is too big, too rich, and too important, which gives me a psychological pressure, which is any point of view., Before I could finish writing, a bunch of faces and materials would surge out in my mind to refute.If you are so entangled, it is difficult to form any text.In this case, if you are a person who has requirements for yourself, you will never make others clear by being confused and forcefully output to mislead others.But I have no high demands on myself and have a thick skin. Even if I mislead others, I don’t feel ashamed or proud. So I decided to force myself to write something no matter what. The blind man touches the elephant, not seeking the correct viewpoint, nor are I afraid of being scolded, just talk about itI saw the facts I heard and some plain thoughts.
Where to start?This one-month trip to the United States happened to happen before the 2024 US election.Almost everyone I meet will talk to me about this topic, and I have also heard a lot of novel opinions.Since that’s the case, I will write a first article to talk about my observations on the US election from the perspective of the Web3 industry.
Crypto?A small matter
If there is any widespread consensus about this election, it is that many people realize that this is an extremely important election in the history of the United States and even the world, and it is likely to affect the direction of the next decades of history.Before I arrived in the United States, from the standpoint of the Web3/crypto industry, what I was most concerned about was of course the impact of this election on this industry.But when he really arrived in the United States, he made a cup of coffee and called a friend who lived in the United States. He clearly analyzed the far-reaching impact of this election from various aspects such as economy, politics, immigration, social security, Sino-US relations, Russia-Ukraine War, etc.Even I gradually felt that compared to these major topics, crypto is actually a small matter.Even if we are most relevant to the interests of this industry, we should not ignore those larger topics.So, let me start with a few big topics.Of course, my output is definitely one-sided, but I just want to tell the truth and are not responsible for objective and fairness.
Public security is not an embarrassment, the economy is a big problem
During my time in the United States, I only went to two states, California and Washington, and were both politically dark blue states.I exchanged views with more than a dozen people on the topics of election, AI and Web3. Most of them are Chinese, and there are two whites, one Indian.I must admit that I have a lot of difficulty in discussing these topics. The depth that can be achieved by communicating in English is much worse than in Chinese. Therefore, the most inspiring and interesting point for me is mainly fromChinese friends.
The most interesting point I heard was a friend defining this election as a choice between Trump’s second term and Obama’s third term.During my time in the United States, it happened that the only TV debate between Trump and Kamlie Hee happened.It is generally believed that in this debate, Kam Li won.But according to this friend’s recollection, during the 2019 Democratic Party primary election, Kam Li performed extremely poorly in multiple TV debates and was hit hard by her party opponents. With her own abilities, she couldn’t even pass the party primary election.The opportunity to have today is completely a promotion and recommendation from Obama.Even her extraordinary performance in this TV debate is definitely inseparable from the pixel-level support and training of the Obama team behind it.In other words, judging from Kam Li’s resume and ability, her source of power is Obama.In the officialdom, people are responsible for the source of their own power, so if she is elected, she will definitely follow Obama’s lead and fully implement Obama’s will in power.So it is better to say that Trump and Kamlie He is running against Obama than to say.
This also directly led some people to deny He Jinli.Because the US election has a mature system, candidates start with the party’s primary election and openly accept party members’ screening round by round, and the winner will accept party nominations and compete for the presidential election.Kam Li, who was the vice president first and is now called a presidential candidate, has not been tested in the party’s primary election, but Obama operated in the backstage.This group of friends sighed, why is the American Democratic Party, with thick eyebrows and big eyes, now has begun to engage in small circles of court politics?I have to say that I had never thought of this before. After hearing what my friends said, I also found it a bit strange.
So what will people choose between Trump and Obama?This is a matter of opinion.Some people think Obama is pretty good and quite decent.This friend, and another Chinese-American friend I met, are quite intense. They believe that Biden, as a representative of the Hillary faction, reflects the proposition of the Democratic Party’s establishment, and overall scores have been positive in the past four years.But choosing Obama as president in 2008 and letting him do it for eight years was the biggest mistake the American people have ever made in history.As for why he said that, they did not explain it to me, but only said that Obama’s harm to the United States was deeply rooted in his bones. His gritted teeth reminded me of what Prince Gong Yilian said before he died.The sentence “It is difficult to make this big mistake by gathering the iron of the nine states.”
However, this can be considered extreme opinions.Others believe that Biden/Kalem He is far better than Trump in actively promoting US investment in high-tech industries, rationally controlling Sino-US competition, and repairing relations with allies.In particular, the new Cold War-style competition between China and the United States is a core event in international affairs today and in the next 20-30 years, and has a profound impact on everyone in the world, especially for Chinese people.In my opinion, the work that the Biden administration has done on Sino-US relations should have been recognized by most people.Of course, I heard people criticizing Biden for being too weak towards China on social media, but I have never seen this view in the real world, especially among Chinese friends in the United States.
When it comes to domestic affairs, my feeling is that everyone is generally dissatisfied with the Democratic Party’s rule over the past four years.The complaints are mainly concentrated in economy, illegal immigration and social security.Among them, illegal immigrants and related homeless people, drugs and social security issues are more concentrated. Of course, they are also a hot topic on the Internet of Jianzhong. “Free America, shooting every day” has long become a domestic one.Golden sentences in the online comment section.
But I have to tell the truth that I have no say in illegal immigration and social security issues because I have not encountered anything.Of course, when I gathered in Little Saigon, Seattle, it looked like a street party of ragged people, but when I walked through them with big bags, I loved to say to a bald Asian man.Ignore it, take it as nothing, and there are no threatening words or physical movements.As for someone who set up a tent and sleeps out on the streets of Westwood District, Los Angeles, he kindly taught me how to pay the parking fee.However, as a side note, his teaching level is indeed very bad, which made me receive the only ticket for illegal parking when I came to this trip.What really touched me about the homeless problem was a black aunt I met on a small train in the San Francisco Airport. She was fat, dirty and sloppy, with her exposed calves ulcers, and her skin was purple and her feet wereThe pus and blood in the heels overflowed, and an indescribable stench emanated from the whole body.This stench has never been smelled even by Chinese migrant workers in the 1980s and 1990s, and is enough to form a fatal chemical attack on “decent people”.I could tell at a glance that this lady suffered from severe diabetes. If she did not receive effective treatment, she would have to amputate her body within a few months.You can see from the leopard that the problem of homeless people in San Francisco is definitely very serious. I believe that the rumors about fentanyl walking zombies, smashing cars, and shootings will not be groundless, but I didn’t see any of them.
What I personally experience is the soaring price.The last time I came to California was in 2018. This time, I looked at it again and again. The prices can be said to have risen so much that I didn’t recognize them anymore.From dining to hotels, from car rental to gasoline, from price tags to tip options, every price card reminds you that this is the crime scene of a massive inflation.
In fact, for my generation who has experienced the prosperity of China’s economy, rising prices are not unfamiliar with it.In the early 1990s when I was in high school, the hot dry noodles near Hubu Lane on Zhonghua Road in Wuchang were 10 cents and 8 cents and 2 taels. I had to eat four taels and 30 cents and 6 cents a meal, and I could enjoy a dozen in that era.One of the ultimate happiness that a young boy can get.Now the same amount of hot dry noodles costs 5-6 yuan, which has increased by more than ten times.However, this increase occurred little by little over the past few decades, and with a greater increase in people’s income, so apart from complaining that the taste of hot dry noodles is not as good as that of the past, no one has too much price.Big opinions.
But the United States is different. The price level in the United States has suddenly soared in the past three or four years after a long period of stability.I remember Professor Chen Zhiwu of Yale University once used his personal experience to introduce the stability of prices in the United States in the past. He said that when he went to Yale in 1986, a bowl of beef noodles next to the school was $5.By the early 2010s, he had already become a professor and returned to the store and found that the bowl of beef noodles was still $5, and he was filled with emotion.It can be seen that the United States has maintained low inflation for decades.I didn’t go to New Haven this time, and I don’t know how much that bowl of beef noodles costs now.However, in the Bay Area, meals that were less than $10 in 2018 are now generally around $17 to $20.If you invite someone to have a little specialty restaurant, please note that it is just a restaurant, not fine dining. If you add a tip, you can easily spend it for 100 yuan per person.
The hotel price level has also soared. The price of a five-star hotel in China can be used. Here you are only crowded in a movie room, which reminds you of the mushroom head carrying a high-pressure air tank and a silencer in the movie “Old Nowhere”The scene of killing Thanos.And some hotels charge you an additional $30-40 per day on the grounds of valet parking.AirBnb, in the classic BP it raised back then, said that the average room rate for a night is $70.So now, this average price has to be multiplied by three.Anyway, it’s just one word, expensive.To be fair, we cannot simply complain about the hotel prices, because the prices of hotels in Australia are also expensive.But a friend in Seattle told me that the hotel prices have suddenly doubled in the past three or four years.
Other tourists’ expenses: rental car, a car that can be rented for $35 a day in 2008, now costs $65-80.No. 87 ordinary gasoline, 4-5 knives per gallon, approximately 7.50 – 9.20 yuan per liter. I don’t know how to compare it with China, but it is more expensive than Australia.Overall, if I get blind tests, as a tourist, the travel expenses in the United States may be 50-80% more expensive than six years ago.
The situation for residents will definitely be better, and the things in supermarkets will definitely not increase as much.But the food prices I saw at Trader Joe’s, a very good local food supermarket, are also higher than those in Woolworth/Coles in Australia, about 10-30% higher.I checked it and from 2018 to 2024, the per capita GDP in the United States increased by 36%.But I believe that a large part of this increase was eaten up by inflation.A famous economist in China said that China’s GDP calculated by purchasing power in 2024 is 1.3 times that of the United States. Although some people say that its main business is swimming and being stubborn, and its economic views are not very reliable, I think this is the matter.In other words, it probably isn’t too far from the facts.
Everyone has read about the US dollar becoming “hair” in China in the media, but if you don’t come to experience it yourself, it is difficult to realize how serious the problem is.我接触的的美国朋友，对这个事也都有痛感。因此这绝对是民主党执政四年在经济上的最大败笔。
But some friends also believe that Trump is the initiator of the big rise.Fighting a trade war with China, ineffective epidemic control, and suppressing the Federal Reserve to release money wildly are all things that have happened during the king’s term, and these are the root causes of this round of US storm. How can Biden be blamed?I can’t tell the argument about this.
If there is still some controversy as to whether the responsibility for inflation should be blamed by Trump or Biden, then the most profound and powerful criticism of the Democratic Party’s economic policies that I have heard is about tax reform.
A friend of mine who started a business in the crypto industry (without his permission, his name was hidden for me) explained to me a detailed explanation of a series of “extreme left” in corporate income tax and capital gains tax since the Obama eraReform made me creepy and sweat profusely.In short, during Biden’s administration, the United States revised the deferred system of corporate income tax, and is now considering taxing on unrealized capital gains of stocks.According to my friend’s explanation, the reform of these two systems will severely blow the enthusiasm of startups and their employees, have a squeeze effect on employment in the high-tech industry, and destroy the enthusiasm of American investors for long-term investment, encourage speculation, and evenSeverely suppress the valuation level of the US stock market.Tax issues are very complex and professional issues, and I do not have the ability to accurately describe them, but if he analyzes them correctly, then even as an outsider, I think these tax reform measures are fundamental to the US economic system, and I feel that they are like the US.People without blood hatred can’t do such a thing.
However, I feel that without careful research, I still have some doubts about this. Can these people really do it?So on this topic, I need to learn more and understand more and dare not draw conclusions easily.
There are many other problems, such as undermining the rule of law with political correctness, misalignment of social welfare systems, manipulating media, wasting public budgets, corruption of officials, etc., many of which are deeper.In short, after listening to it, I felt that the Democratic Party has accumulated a lot of conflicts in the past few years in power.Even in Deep Blue State, you can hear so many complaints.But unfortunately, I just visited the United States for a brief time and had no ability to form my own views on these issues, so I won’t expand it.
Of course, after reading the above description, it may give people the impression that the US economy is very bad and the people are very dissatisfied.So I have to correct it, and that’s not the case.The United States’ economy is currently developing strongly and thriving, presenting a scene of vitality and competition among all things.If the United States is compared with Australia, the US economy will be significantly upward and the Americans will be significantly more motivated.However, as the most mature large-scale mass democracy practice in the world, the US election has fully mobilized the enthusiasm of the people to discuss politics and participate in politics under the promotion of various campaign organizations and media mechanisms, so the problems accumulated in the past few years have been put on the table.The discussion above creates an atmosphere where the United States reaches a crossroads of life and death, which highlights the seriousness of these problems.If this year is not an election year, I’m afraid no one will talk to me about these issues.
A generation of mediocre Trump
Even in Deep Blue State, among the friends I communicated this time, the number of people who support Trump accounted for the absolute majority, and the number of people who support Kam Li is the minority.But I found that in fact, everyone was not satisfied with both of them, and just chose one of the two options that was not that bad.Therefore, the differences between them are mainly about “who is worse”.
When I was communicating with a friend, I mentioned this discovery, and then I added, it would be great if there was a Reagan at this time.When he heard this, his eyes flashed briefly.This emotion can be understood by people of our age.
Now the whole world has entered an era of mediocre talents. What foundation will these mediocre talents lay for the future world?I dare not think, it is hard to say.
Among this generation of leaders, Trump is definitely not the most “mediocre”, but the word “mediocre” is reflected in him quite specific.
Among the friends I met, even those who support Trump were unceremoniously criticizing many of his shortcomings, such as being speechless, disrespectful to others, likes to talk big, and looks less like a king, etc.However, these are also subtle details. The major problem that everyone criticized is mainly his attitude towards the Russian-Ukrainian war.
I believe that Trump’s current appeasement towards Russia represents the public opinion of some Americans with isolationist tendencies.But to be honest, I have not met any such people. Only one Indian friend gave a hypothesis about this matter, that is, Trump probably wanted to quickly cease the war and win over Russia to concentrate his efforts against China.But even the Indian guy himself said that if this is true, Trump would be too wishful thinking.In the previous Sino-US trade war, Putin had a famous saying of “watching the tiger’s fight”. If he escaped from the quagmire of Ukraine, would he suddenly fall into the arms of the United States?
Let’s not guess Trump’s logic on this issue. Just his communication with the outside world is really bad.
So this also leads to another widely questioned question of Trump, which is whether he is already old.
Many people believe that Trump is a good card in this election and is a bad move.Not to mention the once-in-a-lifetime highlight moment of tilting his head to avoid bullets and spreading his arms to dance the national flag, it is the issue of domestic inflation. As long as he holds it and chases it relentlessly, it is enough to win the election.But for some reason, Trump seems to have lost the sharp street smart of the past in this election. Especially during the debate, he released koi at the killing node many times, but instead made a big deal about the topic of “Ah cat and a dog”.The article is really incomprehensible.Back to the Russian-Ukrainian issue, as long as he talks about some strategies and reads “The Precursor of History”, he will get high scores on this issue.But he just didn’t do it, and he really lacked Eastern wisdom.Take a step back and say, even if you have to tell the truth, then you should talk about your logic carefully?We talk big every day, what can we achieve peace on the first day of taking office, what do we think of Emperor Pu and I am friends?Isn’t it just Chamberlain and Truman who has a long beard?So many people doubt whether he is also surrounded by the information cocoon he created, losing his sense of reality, losing his strategic flexibility and flexibility?
But no matter what, among the people I contact, most of the people who support Trump are not because these people like Trump so much, nor because they dislike Kam Li, but because they sincerely believe that the Democratic Party will continue to rule.Some of the underlying institutional constructions in the United States may be destroyed.Let me put it this way, someone told me that the logic of the Democratic Party canvassing votes is that although you don’t know Kam Li, you hate Trump, so please vote for me.But this time I communicated with all the people who support Sichuan, and found that their logic was the opposite: I may not like Trump much, nor do I know much about Kam Li, but I know what Obama is, so I mustCount to Trump.
All in all, the US election is really too complicated.I think if I had a vote and had heard so much information, I might be hesitant now.Fortunately, I don’t have this vote, so I don’t have to worry about it.
Crypto Topics Entering the General Election: Breakthrough from Zero to One
Finally, I can return to the topic of Web3/crypto that I am more confident about.Actually, I have written so much before, just to give the Web3 colleagues a background so that everyone can understand that compared with the big topics mentioned above, Web3/crypto is a small matter and has no decisive impact on this election..
However, although small, it is also a breakthrough from zero to one. After all, crypto has become the topic of this election, which is the first time in the history of the US election.I hope everyone will not ignore the meaning of this matter.I believe that with the development of the industry, in a few years, every US presidential candidate must propose a crypto strategy to win over voters.
Currently, the two candidates have made statements about crypto, among which Trump’s statement seems very positive. Not only did he attend the Bitcoin conference and support BTC and buy hamburgers for diners, he also criticized the SEC’s attitude towards crypto, claiming that he would change it.On crypto friendly people as chairman.And Kam Li only mentioned digital assets and blockchain in her recent speeches. It is difficult to tell whether it is a well-thought-out policy oath or a perfunctory remark to attract votes.Based on these superficial phenomena alone, if Trump wins the election, he should adopt a more crypto-friendly policy. Not only is the crypto market more likely to usher in a bull market, but the development of the Web3 industry may also be fast-forward.If Kam Li is elected, then the development of the crypto market and the Web3 industry will definitely be slower, but there will be development.
Of course, people will question whether these statements of the two candidates will be really implemented or “scamdled”?I think Trump should have formed a certainty about crypto, and if elected, he would intend to implement his series of policy propositions.And Kam Li, the Obama team, has not actually figured it out yet, so she has left more flexibility.If Kam Li comes to power, there are all kinds of possibilities.And if Trump comes to power, there is a high certainty.
Why do you think so?Precisely because crypto is a small topic that has no decisive impact on the election results, the two candidates cannot fool the votes on this issue, so the statement is more credible.Especially Trump, he is too lazy to say beautiful words on the Russian-Ukrainian issue, and there is no need to pretend to be false about crypto.On the other hand, the statements of the two are actually in line with the value propositions of their respective parties.The Republican Party itself emphasizes personal freedom and is more communicable with the crypto value system.The Democratic Party is a disciplined organization that advocates the government’s expansion of power and strengthens control in terms of values, which has certain friction with crypto.But the Biden/Harling Kam-ri administration is indeed more attentive to supporting the development of high-tech industries.So if Web3 proves itself to be a high-tech industry with strategic value in the next few years, Kam Li hopes that the current caliber will reserve enough flexibility.
In such a situation, how do we judge the impact of the election on the crypto industry and market?My opinion is that no matter what the election result is, BTC will usher in greater development. This matter is less affected by the election result and has high certainty.However, in other Web3 tracks besides BTC, whether it is a bull or a bear, a big bull or a magistrate, the impact of the election results is relatively severe.
BTCFi: The blue ocean is coming
BTC is currently the largest consensus divisor between the crypto industry, Wall Street and SEC, which sends BTC into a relatively stable cycle.In this cycle, BTCFi will usher in great development. Even if the industry environment deteriorates, BTC, as digital gold, can survive alone.
The logic of BTCFi is as follows: Wall Street treats BTC as a commodity in order to accommodate BTC in the asset framework they are familiar with.After this work is completed, BTC assets interact with funds from Wall Street institutions.Compared with the previous support of the currency circle, BTC has gained support from another dimension, just like if there is one leg on the table, its stability will be greatly improved.But don’t forget that BTC is a programmable digital asset.Before, the relationship between BTC and DeFi was relatively weak, and BTCFi had no development. Everyone did not explore the programmability of BTC enough and did not understand enough. Wall Street looked at the stupid BTC and felt that it was no different from gold, wheat, and crude oil, so it turned out that it was not different from that ofIt’s in commodities.But BTC is not gold, wheat, or crude oil after all, but programmable digital assets.Now that Wall Street has straightened BTC and the Trojans have entered the city, it is time for the crypto industry to take advantage of BTC’s programmability.Based on BTC, through programming, we can realize a series of financial businesses such as reserves, pledges, lending, trading, derivatives, etc. on the chain, creating a prosperous BTCFi.
The essence of BTCFi is to leverage based on BTC.Various businesses are all different forms of leverage.The programmability of BTC provides convenience for the development of these levers, and the openness and transparency of blockchain also greatly reduces its trust friction.This is the core advantage of BTCFi.If you add leverage, what you fear most is that the foundation is not solid and the earth is shaking.The addition of Wall Street has consolidated this foundation, so the leverage of BTCFi has become very room for imagination.In time, there will be a multiplier relationship between the value of BTCFi and BTC, which means it will be several times the total value of BTC itself. This situation has occurred in other major assets, and it is only a matter of time in BTC.
Of course, this requires a long period of incubation of a benign external environment.And if Trump comes to power, such an external environment may appear earlier.On the one hand, Wall Street itself will inevitably focus on BTC to make some derivatives, providing richer tools to consolidate the foundation of BTC.On the other hand, in the crypto industry, the construction of BTCFi will be based on the theme of builders, giving full play to programmability, and will surely produce a series of innovations.Compared with other DeFi branches, BTCFi is easier to build consensus and gain orthodoxy, and has a more solid foundation, and its development is certain.After Trump comes to power and takes office for four years, BTCFi will form a climate.If Kam Li came to power, this thing would develop slowly, but it would definitely happen.
What is the worst case?It is Trump threatened that world wars and chaos in the world. In this case, the development of Web3 may require a longer time to explore in the dark, but only BTC, as digital gold, will highlight its value.As BTC’s decentralized reserves, transactions and lending infrastructure, BTCFi will obviously be more vital than the centralized system in a turmoil in the world.
Of course, I really don’t think that world wars will happen soon, so we still plan the development of BTCFi according to optimistic branches.
Geoffrey Moore, a famous marketing expert, has a very famous “gaps” model, which means a new technology, from early fans to the mass market, there is a deep gap between them, and most technologies and products cannot cross this.The road gap.And I think if Trump comes to power, the BTC ecosystem will cross this gap in the next four years.It may take longer for He Jinli to say that, but she will definitely cross it.According to general rules, once a technological product crosses this gap, the total scale will reach more than ten times the previous one.As for BTC, part of this growth will come from the value-added of BTC itself, but mainly from the development of BTCFi.
By the way, the above analysis is also the basis for Solv’s long-term development strategy judgment.Now Solv is the largest protocol for TVL in BTCFi, but in fact we think this is just the beginning.Solv has done a lot of infrastructure-level innovation for BTCFi, and if you just treat it as a reserve protocol, it’s hard to understand why we are doing these things.But in fact, Solv believes that BTCFi is about to usher in great development, so he prepares these infrastructures in advance, which is also a typical blue ocean strategic thinking.So from the perspective of selfishness, I still hope to understand that Wang Er enters the palace.
Web3 Needs Order Colonization
The biggest task of Web3 now is to create large-scale application products with a large number of users and practical application value.It is easy to understand for a large number of users. What does the actual application value mean?It means having real consumption scenarios and income models. In other words, users pay not to make more money to invest, but to pay for enjoyment, happiness, and satisfaction.It can be said that as long as you make a breakthrough in this level and cooperate with the improvement of the external environment, Web3 will usher in a real explosion.
So what is the current situation of the development of Web3?It is a situation where one leg is long and one leg is short.The long legs are technology, and the short ones are industry order.
I have repeatedly told my friends around me, don’t look at Web3 technology with an old eye.Many people were so miserable that the ICO tricked me from 2017-2018, “how bold people are and how much more productive people are?” and I was so impressed that my understanding of Web3 has been stuck in the “air ICO project” period.Even those who know that Web3 has applications have poor impression of its technological maturity and user experience.Yes, just two or three years ago, the main DAPPs were still poor in performance, high cost, poor user experience, and they exuded a geeky smell all over their body.However, in just two or three years, Web3 technology has made great progress in almost all relevant branches.Some of the technical verification products I have seen recently have an unlimited user experience that is infinitely close to Web2.Therefore, I think the main contradiction in the entire Web3 now has transformed into the contradiction between the ever-changing development of Web3 technology and the seriously ill-stunning product and application ecosystem.
Many people are thinking hard, why can’t large-scale application products appear in Web3?People have found many reasons, analyzed and tried to summarize which product is suitable for Web3 and that is not suitable.But I think the core reason is not the product itself, but the corruption of the industry order.
Although Web3 technology has made great progress, developing technology into a successful product requires a complete set of industry orders such as investment, incubation, R&D, operation, promotion, marketing, supervision, and market entry.And the most core of this is the order of the listing process.We say that Silicon Valley is a global innovation center, not because the talents in it are really three-headed and six-armed, but because Silicon Valley has established an order that is most conducive to rewarding innovation, and has been linked with SEC and Wall Street to provide innovators with cradles to listings.full order support.This order was exported to China for one time, thus creating the glorious twenty years of Chinese Internet.So order is crucial and decisive.
When Bitcoin and Ethereum were successful, many of us thought that blockchain brought a new order that was more freer, more open, more equal and more transparent.But sow dragon seeds and harvest fleas.After seven or eight years of practice, not only did the crypto industry not give birth to a new order that transcends Silicon Valley, but instead established a more distorted, ugly, and fraudulent order that was reversed.After this year’s Singapore Token 2049, many participants published short essays on summary.If you read these small essays from the perspective of order summary, it is not difficult to get a glimpse of the truth and understand how bad and desperate the true order of the crypto industry is now.This bad industry order is the real reason that hinders Web3’s breakthrough development.
Order is a product, and it is the most important and expensive product.Some countries and regions have not been able to establish a benign order for thousands of years and have always struggled in the quagmire of history.Similarly, what I worry about the Web3 industry most is that it cannot evolve a benign order based solely on its own.At least for the time being, I can’t see hope.
The realistic solution to this problem is to open your arms, introduce external constructors, welcome order colonization, quickly cleanse the existing five turbidities and establish a new set of rules.And the closest I have seen to this goal is the “Token Haven” plan proposed by the US SEC.This plan allows crypto projects to enter a three-year safe haven, financing and incentives through issuing tokens, and will not be investigated under the securities law for the time being.But three years later, the project must meet a series of conditions before it can leave the safe haven and enter the normal operation cycle.If the project in the safe haven is suspected of fraud, the person responsible will be severely punished by law.If I want to understand the crypto market, it should not be difficult to see that such a plan grasps the key and lays the foundation for the emergence of a new order.
It is in this sense that we can grasp the key by examining the impact of the US election on Web3.If BTCFi will develop well whether Trump or Kamlie He comes to power, then for the future of Web3, there is a big difference between Trump and Kamlie He.If Trump fulfills his promise and replaces a crypto-friendly SEC chairman, then we may see suggestions like Token Haven in a short time, and the new and benign industry order will be slowerBuild slowly and inspire countless innovative Web3 products.If Kam Li comes to power, the SEC will likely continue to follow today’s policy regardless of whether it is a replacement, that is, based on the dogma of the old order, uncompromising and flexible, or not whipping this new field.If this is the case, then I think the establishment of the new Web3 order may have to be explored in the dark for a long time.
Therefore, most crypto colleagues hope that Trump will win the election is simply due to expectations of currency prices and liquidity.But I value more whether Trump can really drive changes in the SEC’s attitude towards crypto once he is elected. This is the key to whether Web3 can take off quickly.
