In the past week, China cut the international flights, suspended the entry of foreigners and started strict quarantine enforcement for people arriving in the country, as a way to prevent infected people from overseas to trigger a new outbreak, which it can hardly afford after a two month country-wide lock-down.
Here in the US was another week when decades happened - it surpassed China with the most infected cases, a heated debate national-wide on what would be proper measures continued in the midst of this national health crisis, jobless claim number went to unprecedented level, a two trillions stimulus plan approved in lightning speed, and Fed went all in to rescue the market.
Many believe what Fed did is courageous and necessary given the circumstances. But if we take a step back, a bigger question would be why this financial system is so fragile and how we got here in the first place. This crisis is revealing: American corporations leveraged up using stock buybacks with no cash saved for rainy days, now begging for a check from the government. Recently I have been struck by the idea that the opposite of free money is a shortage of liquidity and we could go from one extreme to another. Will the economy be back to "normal" after three months just like having had a bad dream?
Stay safe everyone.
What’s heat
China and Huawei proposed a new internet standard to ITU, which paints a picture of a digital world in 2030 where VR, holographic communication and remote surgery are ubiquitous and for which the current network is unfit.
Alipay released five patents related to China’s CBDC, covering issuance, transaction recording, digital wallets, anonymous trading support and assistance in supervising and dealing with illegal accounts.
TON blockchain could have a decentralized network launch based on open-sourced code to decouple it from Telegram and bypass the ruling of US court.
Binance decides to remove all FTX leveraged tokens on short notice, saying they are “too risky for users”, some other exchanges (e.g. MXC, BitMax) will list those tokens right after the delisting.
Bitmain’s Jihan Wu says in a recent interview that the next round of bull market will probably start at $3000 and its latest S19 (which showed “sold out” in 2 mins online) can be used for 3-4 years.
Something to read
Open-source: from community to commercialization on how to turn an open source project into a successful business.
Bitcoin experienced the second largest difficulty decrease in its history after the recent price crash, here is a twitter thread explaining the adjustment.
Developers will be looking at several key factors before they decide to build on a new Layer 1: infrastructure around developer tools, DEXes and liquidity, standardized fungible token standard, non-volatile assets, and oracles.
How to Defi guide book by Coingecko.
Events (online)
March 30 - April 1
Winning and Mining Summit - Halving Edition
April 2, 2pm (Beijing time)
Poolin mining AMA (to join add wechat account poolin666)
Notable conference
*March 31 Zero Knowledge Summit - ZK5 (virtual)
*April 3-6 Noncon (virtual)
April 4-5 Deconomy (Korea)
*April 4-6 ZKProof workshop
*May 1-2 DeFi Discussions Conf with ConsenSys
*May 7-8 Ethereal Virtual Summit 2020
May 9-10 Magical Crypto Conference (New York City)
*May 11-13 Consensus 2020 by CoinDesk
*June 8-10 Mainnet Events by Messari
*June 24-26 Remote Crypto Con
June 15-21 Korea Blockchain Week (Seoul)
July 6-7 M2 Asset Management (Oxford)
July 15-16 Asia Blockchain Summit (Taipei)
July 22-23 Mining Disrupt (Miami)
Sep 11-16 Shanghai Blockchain Week by Wanxiang Blockchain (Shanghai)
Sep 28-30 Hong Kong Blockchain Week 2020
October 7-8 Token2049 (Hong Kong)
Q3 (tbd) Bitcoin2020 (San Francisco)