Today, I’m here to share the latest updates about Pi Network. The first piece of information, which is quite significant, is the reduction in mining speed per month. In October, users will mine at a reduced speed of 0.0095401 Pi per hour, dropping down to two decimal places. Over a considerable period, Pi’s mining speed has decreased to two decimal places after the comma, compared to the previous month, indicating an increase in user numbers. The basic mining speed, which used to be 0.01, has now dropped to 0.009. The decrease in speed implies increased scarcity, leading to a rise in Pi’s value, and more users are joining the Pi Network. This is the first update.
Moving on to the second piece of information, today in Nergia, pioneers reached a consensus to exchange a Max Bass Bluetooth Mini Speaker that supports full Pi payment. Its price was set at 0.000096 Pi. Pioneers needed only 0.000096 Pi to purchase this Bluetooth speaker, which you can see has four decimal places after the comma. In another exchange, in a market in Hong Kong, people used their Pi to buy food. Pioneers only had to scan a QR code to make a payment of 0.000007 PI for the items they purchased. These are real-world transactions facilitated by Pi’s QR code payment feature, making payment convenient. All transactions outside the digital world now rely on QR code scanning; there’s no need to copy wallet addresses anymore. This feature makes it easier for pioneers to engage in transactions.
Next, there’s another image from Indonesia. A pioneering individual in Sukoharjo received a Pi payment worth $314,159. More and more people are contributing to building the Pi Network ecosystem in Indonesia. Do you know of any other pioneers accepting Pi Payments in Indonesia? Don’t hesitate to share it with the world!
Lastly, let’s talk about Jiang Libing, a prominent figure in China, who has spoken about Pi’s values. Jiang Libing, a Han nationality, holds a Master’s degree in Business Administration from Zhejiang University. He currently serves as the Secretary-General of the Token Economy Committee of the China International Economic and Technical Cooperation Promotion Association and the Secretary-General of the Common Property Committee of the China Association of Private Science and Technology Entrepreneurs. He also serves as the Executive Secretary-General and Director of the Boao Global Digital Economy Forum, and Deputy Director of the Economic Work Committee of the Zhejiang Provincial Committee of the Jiusan Society.
In the video, Jiang Libing emphasized that in the era of the token economy, businesses can produce and directly sell products at the OD (Origin of Demand) layer, bypassing intermediaries. This direct transaction model, facilitated by tokens like Pi, reduces costs, enhancing business competitiveness. Direct transactions cut out intermediaries, allowing products to reach consumers as if they were purchased directly from the manufacturer, resulting in lower costs. Moreover, this system promotes fairness, bringing more benefits to consumers. Every family and individual participating in this model becomes a trader, reducing unemployment rates. This introduces new terms such as “digital commerce,” expanding beyond existing concepts like e-commerce and physical stores. The value of Pi will depend on the ecosystem and all the products and services within it, following the principles of the token economy. Although the exact value of one Pi is challenging to determine, it won’t be excessively low.
Jiang Libing’s insights, as a highly educated individual holding significant positions in China, including being the Secretary-General of the Token Economy Committee of the China International Economic and Technical Cooperation Promotion Association, highlight Pi Network’s potential. This rare video featuring such high-ranking officials analyzing Pi Network suggests the platform’s significance.
Looking to the future, new terms like “digital commerce” based on blockchain technology will emerge, leading to reduced costs and fairness for both buyers and sellers. Therefore, Pi is aligning itself with the digital commerce trends of the 5.0 era, where its value will be shaped by the community and the ecosystem.
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