On December 15th, just a day after the listing, Longfin announced that it was buying Ziddu.com, a singapore-based blockchain, with the shares of Longfin soaring in the face of a digital currency frenzy recently represented by bitcoin. Because China's mainstream economics mechanical property right understanding into property of power based on stock, so, in the name of the Chinese norm of the reform of property right will be the eye looks at on the stock of state-owned assets, simple and ridiculous "privatisation" scheme, clear property rights is approximate to "privatization". It was a misreading of coase, a misreading of alchin and even an insult to them. The precise description of property rights should be the right to clarify individual pursuit of wealth. (1) spiritual gain -- spiritual satisfaction; Canning's view