I. Development progress in the world.

Europe and America

Industry News:

1.

Chairman of SEC: Bitcoin is not a security since it acts as a replacement for sovereign currencies.

June 7th: Jay Clayton, Chairman of the U.S. Securities and Exchange Commission (SEC) stated today, “Replace the dollar, the yen, and the euro with Bitcoin. That type of currency is not a security. Tokens, digital assets, or ICOs used in the fund-raising process fall under Clayton’s definition of security.

2.

CFTC Official:Cryptocurrency isn’t going anywhere, but in fact, it will spread to every corner of the globe.

June 7th: Rostin Benham, an official of the U.S. Commodity Futures Trading Commission (CFTC) gave a speech on Monday at the Blockchain for Impact Global Summit hosted by the United Nations. In his speech, Benham emphasized the immense potential of blockchain technology in the medical, employment, and penal fields. Benham also stated that cryptocurrency will become an integral part of every nation and every economic system. In addition, he stressed that these currencies aren’t going to disappear. Instead, they are going to spread into every economic body and every corner of the earth, and that they can change the entire face of economy and society.

Industry News:

1.

The Google search volume for “Bitcoin” dropped behind “Blockchain,” setting a new trend.

June 5th: According Google Trend’s system data, the search volume for the term ‘Bitcoin’ has fallen 75% as of the beginning of 2018, and has decreased by half in the last three months. Most of the other cryptocurrencies have likewise fallen. The search volume for the relevant Chinese term for Bitcoin has seen a decrease as of the beginning of 2018 as well. In contrast, the search volume for ‘Blockchain’ has seen a dramatic increase, and surpassed Bitcoin for the first time in the latter half of February.

2.

EOS: Will the controversial EOS ever go online?

June 4th: The rising star in cryptocurrency, EOS, announced last Saturday, June 2nd, that they are officially launching on main net. A week later, on the 8th of June, the EOS global community voted that due to the high risk, the main net will be temporarily delayed.

China

Policy News:

1.

CCTV Interview: Exploring how blockchain affects life.

June 4th: CCTV’s dialogue column has shot into the public view. The audience in front of the TV is better able to explore what blockchain is, what changes it will bring into our lives, and how this advanced technology should be applied. Guiyang’s Municipal Committee Deputy Mayor Xu Hao, Wang, the Chinese Institute of Information and Communication Technology Wang Zhiqin, Zhongguancun’s Blockchain Industry Alliance Chairman Yuan Dao, Typco Group’s President Don Tapscoot, Stanford University’s lecture Professor Zhang Shoujun, Xunlei Group’s Chief Executive Officer Chenlei, and Beijing University’s Guanghua School of Management Financial Department Director Liu Xiaolei all participated in the dialogue.

Industry News:

1.

The Bank of China has announced that there are currently 81 patents related to digital currency and blockchain technology.

June 5th: According to the patent search data of the State Intellectual Property Office, as of the the 30th of May, the number of patents serviced by the Institute of Digital Currency Research, Bank of China Credit Card Development Co., Ltd., and the Institute of Printing Science and Technology of the People’s Bank of China were 37, 22, and 22 respectively, adding up to a total of 81 relevant patents reported by the Central Bank.

The content of patent research covers a wide range of areas, according to analysis by the Xiaocong institute. The five areas where research is focused include lower-level blockchain technology, issuance and circulation of digital currency, digital currency transactions and payment system design, digital currency wallet design, digital currency chip card design.

2.

Baidu: Baidu’s Duyuzhou won’t create another cryptocurrency, rather it will establish a digital society.

June 5th: After Baidu’s ‘Duyuzhou’ official website launches, the app is scheduled to release after the opening ceremony of the World Cup. Duyuzhou’s brand new user experience will become an accumulation of crypto-resources and the protection of real world rights and interests in order to bring more convenience to the customer. Current blockchain apps still focus on the minority field of cryptocurrency. According to Baidu’s introduction, Duyuzhou won’t become another cryptocurrency, rather it will establish an actual digital society.

Ⅱ. Voices

1. Apple

Apple: Apple’s co-founder, Steve Wozniak, “Only Bitcoin is pure digital gold.”

June 5th: Apple’s co-founder Steve Wozniak stated to CNBC in the Money 20/20 conference held in Amsterdam that “only Bitcoin is pure digital gold.” He reiterated his faith in the crypto currency despite already selling most of his holdings. Wozniak believes that all other cryptocurrencies tend to give up some of what makes Bitcoin special, by being totally decentralized and having no central control.

2. The People’s Bank of China

The People’s Bank of China: Vice Director of the People’s Bank of China Digital Currency Institute: Blockchain application has a significant effect on digital bills .

June 5th: Di Gang, Vice Director of the People’s Bank of China Digital Currency Institute, released an article in the magazine ‘China Financialyst’ introducing the innovative application of blockchain technology in digital bill scenarios. He expressed that new blockchain technology has increased the transparency of business transparency on digital bill platforms, increased the efficiency of regulation and allows business innovation to be supported within the scope of bill law and other relevant institutions.

Blockchain is similar to other technology, it needs to evolve on long-term scale on a technical and developmental level, and will gradually improve with the expansion of applications. With the development of cross-link technology, it will be helpful for the digital bill business to cooperate with other blockchain platforms to build the infrastructure for a new digital economy.

3.Putin

Putin: Russia can’t have its own cryptocurrency, but it must research how to use cryptocurrency.

June 7th: Russian’s president Vladimir Putin addressed the Russian public during their annual on-site Q&A meeting, stating that Russia can’t have it’s own cryptocurrency, because cryptocurrencies transcend state boundaries.

Putin pointed out that Russia doesn’t have any specific regulations regarding so called ‘cryptocurrency mining,’ but their attitude is ‘very cautious.’ Regarding using cryptocurrency as a payment method, Putin mentions that although Japan has partially adopted cryptocurrency as a payment method, ‘but in other countries it just doesn’t work. Putin went on to state that Russia central bank’s position is that cryptocurrencies can’t be a means of payment or saving.

Cryptocurrencies lack any support, and the public should be cautious in dealing with them. Russia must keep a close eye on the development, in order to know how we should participate in the process. In addition, Putin also stated that Russia must study how to use cryptocurrencies to ‘avoid any restrictions in the sphere of international financial activity.’

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