Visual summary of Shanghai Dianrong (上海点融概览)


Bitcoin consensus and stakeholders

Bitcoin required consensus

Consensus of rules – which kind of block exists
Consensus of history
Consensus that coins are valuable – who owns the coins

These consensuses provide incentives for bitcoins mining. Bitcoin relies on consensus, it relies on agreement by the participants and that that consensus is a fragile and interdependent thing.

Who are the stakeholders?

Miners write history, make the blocks, record transactions. Investors decide if the bitcoin has any value. Merchants and users influence its acceptance.

FAQ: Why is blockchain attractive?

Beauty of blockchain lies in common agreement

Everyone can agree upon a single published block chain that is the agreed upon history which transactions have happened.

People can agree which transactions are valid and which transactions have actually occurred.

Ability to assign IDs to things in a decentralized way.

This means there is no need for central authority. No one has the final say unlike cash, where central banks decide the volume of money.

FAQ: How do we know if a blockchain transaction is valid?



4 premise to check for transaction validity

  • First, if the consumed coins are valid, that is they really were created in previous transactions. 
  • Second, that the consumed coins were not already consumed in some previous transaction, this is not a double-spend.
  • Third, that the total value of the coins that come out of this transaction is equal to the total value of the coins that went in. 
  • And finally that the transaction is validly signed by the owners of all of the consumed coins. 

FAQ: Who guards the creation of bitcoin?

A crypto currency transaction is always valid. This is so because the user said so. He puts it in the block's history, signs it and this has to be valid.

The beauty of cryptocurrency is here - there is no need to worry if someone is entitled to create coins. Anything that's placed in the history and signed, is valid. This is where the efficiencies of transactions are derived.

Is Tencent raising its game with its credit score system?


All eyes are now on Tencent’s credit score system. But what exactly does this mean for Tencent and its nemesis, Alibaba?




Tencent’s credit score system is stealing the limelight even as onlookers anticipate Alibaba’s monthly update of its Sesame Credit. Tencent is granting some of its users access to its credit score system in the run-up to “8.8 cashless days.” This is Tencent’s latest bid to get a slice of China’s US$5.5 trillion mobile payments market.

Only QQ super members are eligible to view their credit score for the time being. This means users must pay at least 20 yuan to view their credit score. Tencent’s strategy is similar to Alibaba’s Sesame Credit back in 2015.

Accessing Tencent’s credit score is an obscure process. Users must first take note of the “Tencent credit” public number. After selecting “my credit”, users will need to enter the name and identity number. The corresponding credit score then appears; it lies within the range of 300 to 850.


This is just another chapter in the intense battle between Alibaba and Tencent

Tencent and Alibaba have been in a longstanding dispute over payment matters. But Alibaba is advancing much faster when it comes to the credit score system. In January 2015, Ant Financial Services (蚂蚁金服) officially launched the Sesame Credit score. Over the years, it has access to more services – accommodation, travel, consumption, and loans. These rapid changes make many users pay attention to Sesame Credit’s monthly updates.

Tencent has been going all out to promote WeChat payment and QQ wallet. But it has been relatively cautious when it comes to personal credit. As early as 2015, Tencent has become one of the first batches of personal credit licensing units in the Central Bank. Its credit score system’s official website has been inactive for several years.

Tencent’s credit inquiry has been kept on such low profile allegedly thanks to “Pony” Ma Huateng.

“Isn’t such product buying and selling of personal data?” Ma retorted when he was approached by the person-in-charge of the Tencent’s credit inquiry. Ma then demanded that the distribution of the product be stopped for “protecting user’s privacy.”

Ma’s views appear to have changed. In his speech at last year’s Tencent Cloud summit, he mentioned that “Tencent will keep a long-term record of every user’s credit” to protect the rights and interests of its partners.

The absence of a credit system has always been an obstacle to WeChat’s expansion in China. Establishing an in-house credit scoring system is an imperative.

Chinese consumers are more concerned about the actual utility of Tencent’s credit score system

A user’s credit score is broken down into five categories – social index, safety index, wealth index, performance index, and consumption index. These criteria are similar to Sesame Credit’s.



Tencent and Alibaba have their own characteristics and advantages when formulating their own credit systems. Alibaba’s credit data is mainly based on the large number of e-commerce transactions and the addition of financial products such as Yu’ebao (余额宝), which is more heavily weighted towards data from Internet finance.

Alibaba is less adroit when it comes to social networking features. Alibaba has worked hard over the years but the results are not always satisfactory. The latest incident was the “Circles” event. Alipay attracted an uproar when it intended to use the Sesame Credit to enter the high-end dating market. Alipay then pivoted back to focus on payment mode and finance.

Social networking is Tencent’s natural niche thanks to QQ and WeChat. WeChat has nearly 900 million monthly active users while QQ has more than 860 million monthly active users. This can provide a large number of continuous and traceable user behaviour data for Tencent. In its introduction page, Tencent credit mentioned that the user's friendships and his circle of friends are also a factor in measuring one’s credit score.

Tencent does not have the same electronic business platform that Tmall and Taobao have. These platforms can help obtain consumption data. The evaluation of the user’s consumption index mainly comes from Tencent mobile QQ, WeChat payment, and shopping behaviour. Tencent may have access to JD.com’s consumption data thanks to QQ’s and WeChat’s connections with the e-commerce company. This means greater prospect of opening up “small credit” with JD.com.

An average user is more concerned about the practicalities of the credit score. Tencent’s credit score system has limited application for the moment as it is launched not too long ago. Aside from micro credit loan products and Everbright Bank credit card application, other functions such as mobile phone repair and car insurance instalment payment are not the average user’s concern. “Mobike deposits” are capturing substantial attention even though nothing concrete has been unveiled.

How Tencent’s credit score system can sharpen its competitive edge remains up in the air

Bike-sharing companies, including Ofo and BlueGogo, have introduced the Sesame Credit to waive off deposit fees. Mobike is unlikely to tap on the Sesame Credit thanks to Tencent. Mobike’s 299 yuan security deposit continues to draw heavy criticism. Users stand to gain if their accumulated points could leverage on Tencent credit to waive off deposit fee.

Tencent credit score can also be increased through supplementary work and education information. This is not too different from Alibaba’s Sesame Credit. But Tencent risks attracting the lawbreakers’ attention as its application scenarios expand in the future. Ant Financial once refuted the “swiping scores” claim by insisting that the so-called “gaining points” method is implausible. Tencent risks facing the same fate; it must be ready for this.

Tencent and Alibaba are waging a new battle in the credit score scene. But it remains uncertain whether Tencent, who has a slower start than Alibaba, can still wield the similar counter attack move it did with its WeChat payment years ago.



追求成功,活出精彩


每个人在一生中都有很多目标。从小的说起,比如在周末之前清理完车库,到取得改变生命的成就,像是在10年内存到2万美元这样。

只要相信成功,你的精神力量将会帮助你完成目标,作为它的衍生品,你能通过鼓励别人对你的信任来建立一个支持系统。


不要仅仅是熟记。事实上,这个方面可以少做点,但是你要加强自身创造性思维的能力。


通过现实记忆,你能掌握一些信息,并把它们储存在大脑中便于日后的回忆。但是这些记忆中的许多事件最终都会变得如同车库里的破旧盒子般:只在你需要的时候才捡起它们。


另一方面,创造性思维则专注于寻找创新的解决方案。这意味着要提出新的、改进的方法来处理任何问题或挑战。


尽管记忆事实本身很重要,但是创造性思维给了我们快速且有效地克服任何障碍的能力。现实记忆使我们的大脑变得呆滞不堪;而创造性思维却使我们的大脑具有适应性和灵活性。


这意味着成功人士总是专注于提高他们的创造性思维,而不是仅仅去尝试记住事实。


你可以用这三种行动来激发创造性思维:接受新思想,尽可能多地抓住尝试新事物的机会,每天早上花十分钟来反思这个问题,“我今天怎么才能做得更好呢?”


有种办法,可以让你通过多样化的生活方式来促进这三种行为,做各种各样展现自己不同个性的工作。


交优秀的朋友


你可能很熟悉“人如其食”这句话,这意味着如果你想拥有一个健康的身体,你应该遵循健康的饮食习惯。同样的想法也适用于你的心态:你的思维方式会对你所看到和听到产生影响。你的生活环境,朋友,你所阅读的文章都会影响你的思维过程。


例如,长时间与喜欢说流言蜚语的人交往会更容易使你变得八卦。相反,与那些只对别人说积极的话语的人长期相处会让你也变得和他们一样。


没错,你正被与你交往的人影响着呢。


你要让周围充满优秀的人才,他们不仅仅有雄心壮志而且相信你的梦想,并认为你能最终能实现它们。你身后有这样的力量来支撑,你就能沿着通往成功的或许带些荆棘的漫漫长路上前进。


保持积极向上的态度


一个保持积极向上的心态的方法是确保你做了在道德上你认为是正确的事情。当人们做一些有悖道德的事情时,比如对某个重要的人撒谎,或是对朋友不问自取时,这会使你内疚,并侵蚀着你的内心。这些负面的想法总是伴有一个恶劣的态度。另一方面,对自己的决定感到快乐和舒适,会建立更多的信任,从而维持你更好的心情。


但最重要的是,没有什么能像相信你在生活中所做的事情是重要的并且有价值的那样让你拥有一个积极的态度。自然而然,这会成为你永久的信心来源,让你毫无理由怀疑自己。


消灭恐惧


“恐惧都源自于你的思想”这个观点,经常被用来帮助人们来克服他们对接近某些情况不明事件的犹豫。


正如我们的免疫系统需要适当的营养来发挥作用,我们的信心需要持续的支持,以确保它尽可能可靠和有效。


一个建立信任的最好方法是什么?开始表现自信,即使你感觉不到。起初,这将很难维持,但随着时间的推移,就变得自然了。这是因为你可以按照你想要的方式来控制自己的情绪。


接受失败亦是生活的一部分


成功的人在面对挫折后会振作起来。当失败者忙于为他们失败寻找借口时,成功的人正在掸去灰尘,寻找并尝试另一种方法。


每一个成功的人都会遇到同样的问题比如反对、气馁、挫折和不幸的个人遭遇,正是这些处理挑战的方式使他们变得出类拔萃。