Blockchain Fever: A Double-Edged Sword of Technological Innovation and Speculative Frenzy

Recently, Blockchain technology has caused a sensation in the internet circle. Some well-known investors and entrepreneurs have expressed their optimism about the development prospects of Blockchain, believing that its influence should not be underestimated.

This wave of enthusiasm originates from some companies applying blockchain technology to practical business operations. For example, a well-known internet company launched hardware devices based on blockchain technology, allowing users to earn digital asset rewards by contributing idle bandwidth resources. Although the company stated that these digital assets are mainly used to redeem internal services, the market has hyped it as the "Chinese version of Bitcoin." Consequently, the company's stock price surged from $4 to $27.

Inspired by this, many companies have announced their entry into the blockchain field. A century-old enterprise stated that it would issue digital currency for image copyright management, and the stock price surged by 119% upon the announcement. Additionally, a social networking site announced plans to issue 10 billion tokens, resulting in a nearly 76% increase in stock price within two days. However, regulatory authorities subsequently interviewed this company, and the token project was forced to be canceled.

It is worth noting that while some companies are hyping the concept of Blockchain, major shareholders are taking the opportunity to reduce their holdings and cash out. For example, the actual controller of a listed company reduced his holdings of stocks worth nearly 100 million.

In fact, the attempts to explore the practical application of Blockchain technology have not received much attention. Several internet giants are applying Blockchain technology in fields such as supply chain, proof of existence, and finance. Some traditional industries are also trying to use Blockchain technology to optimize business processes, such as medical insurance claims and food traceability.

International technology giants are also optimistic about the potential of Blockchain. A founder of a social platform stated that they will explore the application of cryptographic technology in the platform. Cloud computing service providers have also recognized the value of Blockchain cloud services and are actively laying out plans in this area.

However, the threshold for blockchain technology is not low, and it requires a considerable amount of exploration time to truly apply it to real-world scenarios. Currently, investment institutions mainly focus on whether there are rich application scenarios; a single business is unlikely to gain favor. Moreover, no technology can be suitable for all companies, let alone improve performance immediately by adopting a certain technology.

It is worth reflecting on the fact that behind this round of Blockchain craze, more people are focused on the get-rich-quick opportunities brought by digital currency speculation, rather than the value of the Blockchain technology itself. Many people are too lazy to understand the technical details and only care about whether digital currency can bring huge profits. This mindset has led to some unhealthy phenomena in the market, such as frequent listings of new coins and heightened speculative sentiment.

However, the recent significant fluctuations in the digital currency market, coupled with regulatory intervention, have left many investors feeling uneasy. Some digital asset projects launched by companies have also encountered setbacks. This reminds us that any investment carries risks, and excessive speculation will ultimately lead to the bursting of bubbles.

History has repeatedly proven that human greed is an eternal theme. Whether it is the tulip bubble or the current blockchain craze, this is reflected. While technological innovation is indeed important, we should take a rational view and avoid being blinded by speculative mentality. Only companies that are truly committed to technological research and application can gain an advantage in future competition.