Blockchain to Drive Wanxiang's $30 Billion Smart Cities ...

Wanxiang Group a Chinese Automobile Parts Conglomerate with a Financial Arm will invest $50 million fund in order to invest blockchain projects. /r/Bitcoin

Wanxiang Group a Chinese Automobile Parts Conglomerate with a Financial Arm will invest $50 million fund in order to invest blockchain projects. /Bitcoin submitted by coincrazyy to BitcoinAll [link] [comments]

Event of Partnership between PlatON and QB.com on Enhancing PlatON Ecosystem

Event of Partnership between PlatON and QB.com on Enhancing PlatON Ecosystem
On Apr.1, 2020, PlatON hosted an online event of partnership with QB.com, the world’s leading digital asset exchange that offers a secure and reliable BTC and ETH service to users. PlatON CTO James Qu and the Head of QB.com Financial Product Thomas Ho shared the business features and collaboration visions. Research Director of Chain News Mr. Pan and the editor-in-chief of Cointelegraph China Amey hosted this event. PlatON announced that QB.com has joined in PlatON ecosystem as a validator to help enhance the network stability and community building.

https://preview.redd.it/pfzk4tu5ffq41.jpg?width=750&format=pjpg&auto=webp&s=d69d270f39193f91dca16082c4b8124ead22fa31

🌟 QB — Carry Forward the Strengthens of Data Finance and Deeply Dive into the Blockchain Industry

Introduction of QB.com
Thomas: QB group, whose predecessor is Bitbays founded in 2013, is made up with investment institutes. Recent years, QB group has invested and incubated many notable public blockchains, quantitative investment companies, exchanges, mining institutes, medias and blockchain-based security firms, such as yunaq.com that provides security assurance for QB, ChainNews, the madia partner of QB, FBG Capital, the blockchain investment fund, etc. Currently, QB group mainly consists of:
  1. Tokenview: a generated block explorer that has provided browse and search services for many mainstream public blockchains, and the trace and comprehensive analysis of on-chain data for many institutes;
  2. Bitcapital: a financial institute located in England that has managed more than $1B assets in total;
3. Mining sites
  1. QB.com: the open window to expand international expansion of QB group.
Next, we will carry forward our strengthens on data finance and deeply dive into the blockchain industry to provide better data support of Tokenview, continue the asset management service of Bitcapital and improve the financial product design of QB.

How Do You Think about the Follow-up Development of Blockchain Industry?
Thomas: Blockchain is a distributed storage technology that has been commonly used, thus whether if the technology fundamental of blockchain can support the real uses cases is of great importance to the development of the whole blockchain industry. Recently, we see many management and commercial application issues of public blockchains of which the main nets have been officially released, resulted in the development resistance of the uses cases. These public blockchains definitely can’t satisfy the investors, and many people doubt the development of the blockchain industry.
In my opinion, all these problems are just a part of the development and iteration of a new technology.

How Do You Think about the Application of Privacy-Preserving Computation in the Finance Industry, whether if QB will collaborate with PlatON?
Thomas: Finance data is the core asset in the Fin-tech field, the whole life circle of data including collection, integration, analysis and computing are all valuable, and once gets attacked and stolen, the companies will suffer a great loss.
Throughout the world, data leakage is just a common occurrence, such as the Equifax event in 2017, HSBC event in 2018, and the recent Sina Weibo and Zoom issues. The data disclosure issues have drew worldwide attention to the data security, such as the General Data Protection Regulation (GDPR) in EU, Privacy Act and Cybersecurity Act in America, and Personal Data Protection Act (GDPA) in Singapore, etc. China also issued the People’s Republic of China Cyber Security Law, and Personal Information Protection Law in revision.
The data collection of Fin-tech should obey the laws and regulations to protect users’ right-to-know, and enable users to be clear about how the data are collected and used to.
Currently, Fin-tech and other same business are facing the challenges when forming the collaboration based on private data;
1: centralization: when collaborating with institutes or firms built by the first-tier banks or enterprises, other parties in the collaboration programs will worry about the customer loss once the data is controlled by the first-tier banks or enterprises;
  1. security: there will be data disclosure risk when sharing the private data and sensitive data with other firms;
  2. right affirmation: data can be easily copied in the exchange, transmission, processing and access so that can’t be affirmed. Without affirmation, data asset can’t be authorized. Thus, there won’t be clear right & interest relationship and productive relationship to definite the value and reallocate the profit reasonably.
We believe blokchain technologies can solve the long-term issues in the traditional businesses to the great extent. Hence, QB will collaborate with PlatON on Privacy AI including security and data businesses.

Why Did QB Joined PlatON as a Validator in the Early Stage and How’s It?
Thomas: We keep paying close attention to the development of blockchain industry, and wish to collaborate with promising and sustainable projects. We can see the development of the whole blockchain industry just follows the insights from founder of Wanxiang Blockchain and PlatON Dr.Xiao, including the Cosmos’ asset cross-chain and the upgrade of Ethereum towards the Internet of Value, Bitcoin Lightning Network supporting payment, etc, showing the availability of blockchain,
We’re very excited about PlatON’s solutions on data privacy, and wish to see the efficient application of data value. Thus, we immediately joined PlatON ecosystem as a validator at the early stage when PlatON launched its Galaxy Rally. So far, QB works well in PlatON’s new Baleyworld test net, and we set 100% delegation reward ratio for all delegators who support us. Welcome to delegate QB.

🌟 Privacy-Preserving Computation — Infrastructure for the Whole Digital Era in the Future

Technical Architecture of PlatON on Privacy-Preserving Computation
James: We started and then focus on privacy-preserving computation from the standpoint of digital asset era. We keep pace with the top firms in the basic researches of privacy-preserving algorithms and international collaboration plans, and each of us has the unique advantages. PlatON mainly focus on the core privacy-preserving computation architecture as the infrastructure for privacy-preserving computation network and distributed economies.
Regarding the technical architecture, PlatON consists of the research and verification of basic cryptography algorithms, hardware acceleration, built-in algorithms, and the further technology framework based on the above technologies.
For privacy-preserving computation, we have Rosetta, a complete Privacy AI framework, while for as the infrastructure for distributed economies, we are the combination of blockchain and privacy-preserving computation, providing solutions including digital identity, KMS and on/off-chain privacy. Furthermore, we have data bank and applications in IoT, including Finance, healthcare, logistic, etc.

🌟 AMA

What are the Points for PlatON after QB Joined PlatON as a Validator?
James: As an open and transparent community, PlatON sincerely welcome all partners with different businesses and layouts to join the network building and ecosystem development of PlatON. QB has profound accumulations and operation experience in both traditional and emerging markets, I believe QB will bring us widen insights and deep analysis on the economic activities. We look forward to more sparks of ideas and a robust PlatON ecosystem with QB.

What’s the Further Commercial Layout of PlatON, Will You Consider the Payment for Financial Institutes?
James: As what we mentioned, blockchain is born to be the financial infrastructure, and PlatON is dedicated to being the infrastructure for privacy-preserving computation and distributed economies. Thus, most use cases of PlatON are in financial field. PlatON, empowered by privacy-preserving computation, and enhanced with blockchain, will renovate the traditional financial system and help upgrade it to be the next-generation clearing system, settlement system and payment settlement. With the joint effort of community, we can be a payment infrastructure for financial infrastructure.

What Possibilities will Be Bought in with the Collaboration between QB and PlatON?
Thomas: PlatON offered us a very good chance to join in the node building for the promising project, and witness the development of an emerging technology. We appreciate that. We will provide stable technical support and feedbacks for nodes. Later on, we will have a data collaboration based on Tokenview, and have a deep talk on data authorization, data exchange and data collaboration, to help facilitate PlatON’s commercial application at home and abroad using the strengthens of QB.

PlatON is Cautious and Serious when Choosing Partners, So, what are the Strengthens of QB?
James: QB team has years of experience in traditional private banking, and trading management on currency and derivatives. Meanwhile, QB recognizes the data privacy, and are familiar with the advantages of blockchain technologies and security. From the above, QB is a productive power in PlatON ecosystem, and we feel so lucky to reach a consensus with QB team.
Thomas: We’ve introduced the strengthens of QB before. In a word, QB is the combination of finance and security. Currently, both PlatON and QB mainly focus on the node verification and data collaboration. We appreciate the help from PlatON CEO Mr. Sun, CTO James and other friends in PlatON ecosystem. Btw, QB’s financial products is supported by BitCapital’s fund, which follows the regulation of England strictly. Financial risk control comes first for us.
submitted by PlatON_Network to PlatONNetwork [link] [comments]

Re: @RGrottola, DNVGL. Keynote from Shanghai Blockchain International Week

Save us the trouble of translating: posting here since it’s too long for the daily thread.
From Chainnews.com.
Re: @RGrottola, DNVGL
”Norwegian Centennial Enterprise DNV GL Senior Vice President: The real potential of the blockchain is to promote the transition from a linear economy to a circular economy
Chain Express Coupon Logo Logo Chain Express · September 18, 2019 13:12 On September 17, 2019, "2019 Shanghai Blockchain International Week" officially kicked off in Shanghai. This event was hosted by Wanxiang Blockchain Lab to "Blockchain New Economy: New Decade, New Starting Point" As the theme, focus on the industry's ten-year changes and look forward to a new future. The real potential of blockchain technology for society is to promote the shift of the linear economy to the circular economy. Renato Grottola, senior vice president of DNV GL, shared the practical case of the blockchain reshaping the trust industry. Image (50).jpg
The following is the full text of Mr. Renato Grottola's speech.
First of all, I would like to thank the Wanxiang Blockchain Lab for inviting me to participate in the blockchain global summit. This is my second time in Shanghai to participate in the blockchain conference. I would like to share with you the work done by DNV GL on the blockchain. For us, the blockchain is a disruptive technology. First of all, I will first introduce our current work and future plans.
At present, the blockchain has become an important part of our business. Let me introduce myself first. I am the global head of DNV GL digital transformation. My company is not a startup company, an established company founded 155 years ago, a Norwegian company. We are a non-profit foundation, the industry is a third-party credibility industry, and the blockchain is very similar, because the blockchain is a trusted machine. The company has multiple businesses that provide customers with a variety of services to build trust, such as verification, certification, and other businesses, ensuring that there is sufficient trust in the transactions between the customer and the supplier so that the transaction can be successfully executed. When we started to get in touch with the potential technology of the blockchain, a few years ago, we started to study the blockchain in 2015. When we read the relevant articles in the blockchain, we saw that the blockchain would kill all the intermediaries. At that time, I thought we were going to be unemployed, and the industry was going to disappear, so I began to try to analyze this technology and try to understand How to protect yourself.
It quickly became clear that for DNV GL and other companies, this technology will give us many opportunities to create new business value for us. Why? First of all, let me introduce that trust is actually the origin or cornerstone of any type of transaction. In fact, trust is not only important when transferring value between customers and suppliers, but also the execution of any transaction is inseparable from trust. In normal business life, the cost of trust is implicit in the price of products and services, and we have defaulted to the cost of such a trust. Trust has a cost, so there are many services, many business models, and if you have trust, you can be proud of it. But be aware that the cost of trust now is too expensive compared to the price of a single transaction.
The third point I want to talk about is the impact of digitization on trust, which changes the nature of the transaction and therefore the type of trust required to execute the transaction. Give everyone an example, think about the transaction between the machine and the machine or no one. In this kind of transaction, a large number of IoT technologies will bring us 3 trillion transactions per day. The transaction amount per transaction is very small, but the frequency of transactions is very high. There is no cheaper form of trust. Making this type of transaction feasible is economical.
So in this respect the blockchain can really influence or reshape our future. Why? First of all, as a developer, everyone knows about the blockchain far more than me. The blockchain actually transforms the process of trust creation. It has replaced some elements of trust, making the process of trust creation more transparent. , security and decentralization. More dependent on calculations. So far, companies like DNV GL have been acting as intermediaries to provide buyers and sellers with the necessary trust to execute transactions. So the question we are facing now is that we still have the need in the future? Is it necessary to have a technology like blockchain? In society, do we still have status? Does the blockchain solve all the trust problems in any transaction? The answer is, to some extent, to see why.
Because in the digital world, if we talk about value transfer or the transfer of value of a pure asset, there is really no need for intermediation. The blockchain itself can provide all the necessary elements to enable the successful execution of digital asset transactions. In this case, the blockchain is a necessary element of trust, and the trust mechanism provided by the third party is no longer needed to promote The value of digital assets has shifted. But in the real world, when digital transactions involve physical objects, such as products, services, processes, and even people, blockchains are not enough. Because we still need to ensure that the information we use to make decisions, which actually represents the real thing or the service itself. This information is consistent with the facts. This is actually a blockchain that cannot be implemented, so the blockchain is still an essential element of our trust mechanism. If the transaction involves physical objects, the blockchain itself is not enough. When it comes to physical objects, processes, and non-native digital assets, the blockchain technology itself is not enough. This is why we will study this technology in depth. Working with the unique chain of VeChain, I hope to deploy a new concept. Two years ago we had released a new concept, digital certification, which integrates the blockchain with other activities. Other activities are human-based or digital-based, providing all the necessary elements to ensure physical assets or The transaction of the process is new.
Regardless of the relationship between the customer and the supplier, and any stakeholder is trustworthy, including public government departments and so on. As I delve into, at the beginning of this journey, we realized that we must be very cautious when it comes to new business models and new services, because this work is very difficult. So the first implementation we made, this project is our project with Deloitte and the only chain VeChain, which is very important for us. When we perform any confidence-building activities, our ultimate goal is to send a statement, perhaps a certificate of the management system or any other statement. The first thing we did was to turn this statement into a digital asset. So at present our certification declaration is a token, which can be shared and traded between the parties, and is basically an untouchable token. This product is in compliance with regulatory requirements. This statement is on the smart contract. Anyone can verify its authenticity and reliability. If there is a problem with the certificate, we will immediately withdraw the certification statement, so there is no risk of fraud. The solution was released at the end of 2017 and is now fully developed and is driven by the blockchain.
The first project started this year, and we have provided this platform to our customers so that our customers can create and share their own compliance statements. In the near future, it is very important for large-scale promotion. In the near future, digital assets will be placed in digital wallets. We will provide digitally certified wallets to 900,000 customers. We will provide this service at the end of January 2020. We will continue to cooperate with Weigel and Deloitte. of. Yesterday, Mr. Lu said that there are 470,000 active users in the Bitcoin community. By January 2021, we will have 900,000 active users to use this digital wallet. There are digital assets in the wallet, and there are some features that can enter the blockchain. Among the supported ecosystems.
When it comes to the relationship between the blockchain and the supply chain, we often focus on the benefits that the blockchain will bring to the supply chain, for example, it will increase the efficiency of supply activities. For example, if we can trace the traces of the product, such a tracking solution actually proves the value of the blockchain for the supply chain. We are convinced that the true value of promoting blockchain technology far exceeds its value in the traditional blockchain. The real potential of blockchain technology is its ability to create a community and create an ecosystem. This kind of organizational entity can empower new business models, such as shared and circular economy business models, and we are convinced that the future of the blockchain is closely related to any business model based on shared and circular economy. So the benefits of blockchain or the benefits of tokenization are actually very large.
I want to give you a few examples, some of the work we do. Back in the traditional supply chain, we have launched a solution since January 2019, which is available to food and beverage customers. You will see this solution, which basically combines the tracking and tracking of the blockchain characteristics with some business considerations. These business considerations are very important for the company. In the beginning, I talked about trust. In fact, there has been a shift in trust in society. In particular, after 00 and 90, more and more rely on the product itself, rather than relying on the brand. So this program combines our classic verification activities with blockchain to provide real stories to any consumer. It combines the benefits of the blockchain, which is to trust this aspect and all product-related information, to provide it to consumers. If the consumer comes into contact with the product, they can see all the information about the product. This product was launched in Italy and involved three wine manufacturers. One of them is Italy's largest wine producer. Everyone knows that Italy is the world's largest wine producer. The potential market is 2.7 billion bottles a year. This is only in Italy, so this program has been mass-produced and is based on Chain VeChain's blockchain technology is done.
Norwegian Centennial Enterprise DNV GL Senior Vice President: The real potential of the blockchain is to promote the transition from a linear economy to a circular economy
I will spend a few more minutes talking about the future. I just said that the future of the blockchain is closely related to the model of circular economy. Where is our future?
We are convinced that our future is to create an ecosystem that uses blockchains while at the same time stimulating good behavior and leveraging the principles of any circular economy. Minimize negative externalities, such as carbon dioxide emissions. Or another example, there are activities that may increase the share of recyclable products. By using tokenization, we can reach the right platform at the right time by ensuring any type of incentive mechanism. We believe this is a huge opportunity for the blockchain to enable the blockchain to be large-scale. Landing.
Recently in July, we signed an agreement with a small European country, and we worked with the country to create an ecosystem. All citizens will participate in this ecosystem. There are 35,000 people in this small country, and every citizen has their own wallet. If the public has good behavior, they will be motivated, that is, if the citizens use shared travel instead of driving by themselves, they will be rewarded. If they act to reduce carbon dioxide emissions, save energy or save water, they can get rewards. This reward will be placed in the smart contract and will be verified by us, and the citizen will be able to enter the early ecosystem to get established. This token will be accepted by the government as a tax incentive, and citizens can use this reward to shop in the store. This is a very good opportunity for us to try out how this technology can create value for us in a small country. At the same time, we are able to ensure compliance with all existing regulatory requirements.
At the end of the speech, share with us the lessons we have learned.
First, the era of proof of concept is over, so the company has no time to announce projects that are only in the proof of concept phase. Everyone is thinking about this solution, is there a chance to land on a large scale, so the blockchain is not a tool for proof of concept. We need to use the blockchain to really make an impact, rather than using it as an eye-catching propaganda tool. Second, not all blockchains are suitable for us, so it is most important to choose the right blockchain partner to support our business development. Because value is not actually in the technology itself, this value is the perfect integration of technology and business processes, so we must apply the blockchain technology from a business perspective. Based on this, we have cooperated with the unique chain VeChain. Third, the enemy of the massive blockchain landing is not a regulation, but a lack of supervision. If there is no supervision, it will slow down the pace of promoting blockchain technology. If there is no regulation, most companies do not have enough courage to adopt the blockchain, so this is something the government should pay attention to. There is also an enemy in the blockchain. In the community itself, the argument of one coiners and alt coiners (supporting the coin) is actually a debate between Bitcoin and its world, which is a huge obstacle to the large-scale landing of this technology. I think the blockchain community should be consistent and promoted together to promote the large-scale landing of blockchain technology, not just financial technology or transfer payments, so that more companies can truly understand the value of blockchain. . Finally, the real potential of blockchain technology for society is to promote the shift of the linear economy to a circular economy.”
submitted by Orionthehunt3r to Vechain [link] [comments]

Chinas Blockchain Invasion [Bitcoin Magazine]

Chinas Blockchain Invasion [Bitcoin Magazine] submitted by twigwam to ethtrader [link] [comments]

Bitcoin Actually Accepted? Luxury Car Firm Explores Blockchain and Crypto Payments

Bitcoin Actually Accepted? Luxury Car Firm Explores Blockchain and Crypto Payments
https://preview.redd.it/ths5pgc9l8t31.png?width=1024&format=png&auto=webp&s=4f46255af14483e2bb7a43c57bd845126ede37b5
Karma Automotive, a luxury car manufacturer based in California, has just announced its intentions to explore blockchain technology with its shareholders. The means by which the firm intends to this is by accepting Bitcoin.
Although NewsBTC has featured many so-called Bitcoin acceptance stories in the past, this one appears to have a big difference. Karma Automotive seems to be taking payment in Bitcoin directly, rather than with the help of a third-party company.

Is it Really Acceptance if You Never Even See the Bitcoin?

According to a post in AutoFutures written by the manufacturer itself, Karma Automotive will be using its flagship Newport Beach, California, showroom to help demonstrate the power of blockchain technology for payments and more. The firm will now be accepting Bitcoin for new services completed and vehicles purchased at the company-owned store.
Dr. Lance Zhou, the CEO of Karma, stated the following of the move:
“We are opening our platform to serve as a test bed to help convert theoretical blockchain applications to practical use.”
Zhou added that the company will be partnering with the Wanxiang Group, Karma’s primary shareholder, to work on blockchain solutions and their application. The first step towards familiarisation with the technology for the company to accept Bitcoin.
Given Zhou’s insistence on the move being an effort to help shareholders understand Bitcoin and the technology behind it, it appears that this is indeed a rare case of genuine Bitcoin acceptance. Previously, when NewsBTC has reported on so-called acceptance stories, the word “accept” is used very liberally. It would be much more accurate to say that customers of the likes of AT&T and other big names can pay for products using Bitcoin or other crypto assets rather than these companies accepting the cryptocurrency.
Making such payments possible are payment processing companies. These services act as a middleman to the transaction (ironic, no?) and simply perform an exchange – the customer’s preferred currency for that of the retailer.
Many people take issue with these kinds of services for a variety of reasons. Firstly, companies appear to use Bitcoin payment processors as a marketing ploy – “we might attract Bitcoiners doing this” sort of thing. Secondly, payment processors actually have the power to censor transactions. For many cryptocurrency advocates, it is precisely because it is practically impossible to censor a transaction using Bitcoin that makes the technology attractive to begin with.
Recent evidence shows that payment processors can and will censor transactions if pressured. The Hong Kong Free Press had public donations withheld by Bitcoin payment processor BitPay earlier this year.
That said, there are certainly advantages to having massive names take payments in Bitcoin, even if it is through a payment processor. It serves to normalise Bitcoin use, for example. The more “Bitcoin Accepted Here” links at the online checkouts of huge household names an individual sees, the more difficult it becomes for them to continue holding onto the kind of grudges created by the mainstream media narrative that Bitcoin is a tool for criminals and nothing more.
With the Karma announcement, there has been no mention of working with a payment processing service whatsoever. NewsBTC looked at the directories of companies working with the major crypto payment processors and found no evidence of Karma Automotive listed. It does indeed look like the company will be accepting Bitcoin directly and, in doing so, is doing a great service for the industry as a whole.
submitted by Rajladumor1 to omgfin [link] [comments]

Luxury Car Manufacturer Begins Accepting Bitcoin for Vehicle Sales

Luxury Car Manufacturer Begins Accepting Bitcoin for Vehicle Sales

https://preview.redd.it/01bmcf7d22t31.jpg?width=684&format=pjpg&auto=webp&s=7452024b9e0eedb0b6649f4e3eeeb8f9bb73bae1
California-based luxury electric car manufacturer Karma Automotive has begun accepting digital currency as a means of payment at one of its stores in Newport Beach.
Karma Newport Beach now enables customers to pay in Bitcoin (BTC) for new vehicle purchases and related services, according to a company news release on Oct. 15. Announcing the new offering, Karma CEO Lance Zhou said:
“We are opening our platform to serve as a test bed to help convert theoretical blockchain applications to practical use. Karma’s flagship store will support our efforts to prove emerging technology and provide the latest VVIP customer treatment offerings by accepting Bitcoin cryptocurrency.”
The Chinese Wanxiang Group bought Karma’s assets from Fisker Automotive in 2014 for $149.2 million. It began building its flagship Revero vehicle in 2016, the new model of which retails for over $135,000. The Revero can reportedly travel 37 miles before needing a recharge.
Crypto and luxury goods
Cryptocurrency has found its way into the luxury goods industry, both in forms of function and payment. In September 2018, Swiss luxury watch brand Hublot released its Big Bang Blockchain watch that could exclusively be purchased with Bitcoin.
Other high-end timepieces from Franck Muller have integrated cryptocurrency wallets. Franck Muller’s crypto wallet watches retail from $9,800 to $50,600.
Blockchain technology in the automotive industry
Car manufacturers around the world have been experimenting with crypto’s underlying blockchain technology, with the Ford Motor Company looking into blockchain and geofencing to accurately track the number of “green miles” driven by its energy-efficient vehicles. BMW, General Motors, Ford, Renault and Honda started testing a blockchain car identification and payment system in the United States.
In September, Indian automobile manufacturer Tata Motors announced plans to apply blockchain solutions in various aspects of the automotive industry, including the parking marketplace, demand prediction algorithms and real-time monitoring of fuel quality.
submitted by SilkChain to SilkNews [link] [comments]

Luxury Car Manufacturer Begins Accepting Bitcoin for Vehicle Sales

Luxury Car Manufacturer Begins Accepting Bitcoin for Vehicle Sales

https://preview.redd.it/7pkr2ts822t31.jpg?width=684&format=pjpg&auto=webp&s=15eff05c642996468ec08c2236699e9506dbb836
California-based luxury electric car manufacturer Karma Automotive has begun accepting digital currency as a means of payment at one of its stores in Newport Beach.
Karma Newport Beach now enables customers to pay in Bitcoin (BTC) for new vehicle purchases and related services, according to a company news release on Oct. 15. Announcing the new offering, Karma CEO Lance Zhou said:
“We are opening our platform to serve as a test bed to help convert theoretical blockchain applications to practical use. Karma’s flagship store will support our efforts to prove emerging technology and provide the latest VVIP customer treatment offerings by accepting Bitcoin cryptocurrency.”
The Chinese Wanxiang Group bought Karma’s assets from Fisker Automotive in 2014 for $149.2 million. It began building its flagship Revero vehicle in 2016, the new model of which retails for over $135,000. The Revero can reportedly travel 37 miles before needing a recharge.
Crypto and luxury goods
Cryptocurrency has found its way into the luxury goods industry, both in forms of function and payment. In September 2018, Swiss luxury watch brand Hublot released its Big Bang Blockchain watch that could exclusively be purchased with Bitcoin.
Other high-end timepieces from Franck Muller have integrated cryptocurrency wallets. Franck Muller’s crypto wallet watches retail from $9,800 to $50,600.
Blockchain technology in the automotive industry
Car manufacturers around the world have been experimenting with crypto’s underlying blockchain technology, with the Ford Motor Company looking into blockchain and geofencing to accurately track the number of “green miles” driven by its energy-efficient vehicles. BMW, General Motors, Ford, Renault and Honda started testing a blockchain car identification and payment system in the United States.
In September, Indian automobile manufacturer Tata Motors announced plans to apply blockchain solutions in various aspects of the automotive industry, including the parking marketplace, demand prediction algorithms and real-time monitoring of fuel quality.
submitted by SilkChain to u/SilkChain [link] [comments]

Tim Draper buys into a new chain, Bottos. Could be a huge buy signal!

Bottos (BTO) just completed their ICO a few weeks ago and I found them after reading that Draper Dragon, Tim Draper's venture capital firm, had bought in. After doing a little more research, I think that (despite it's name), this could be the most undervalued crypto opportunities out there and possibly the best AI coin of 2018. Here's why....
So Draper Dragon has invested. Why should you care? Tim Draper is the godfather of Silicon Valley venture capitalism. He's had an amazing run picking innovative technologies before their mainstream adoption; Investing early in startups like Skype, Baidu and he has heavily invested in Bitcoin. He bought 30,000 BTC for under $20 million via a seized goods auction in 2014. He and his team know how to pick innovative tech, they know China and they have invested in Bottos.
So why is Bottos a sleeping giant? Their ICO was on Jan 1 and it sold out in under 48 hours, but you've still probably never heard of them. They're a small cap, with the current BTO price under $0.20 (not even 2x ICO price) and a $70 million market cap. They've only just been added to CoinMarketCap last Sunday. To be honest, most of the world doesn’t know Bottos exists, because the team hasn’t done any marketing outside of Asia, but they will. As part of the partnership, they're setting up laboratories in Silicon Valley to continue efforts in popularizing and developing AI on the blockchain. You're going to hear a lot more about this as Silicon Valley attends conferences with this team.
This team is simply one of the strongest I have seen. One of the co-founders, Tingting Wang is a serial entrepreneur, previously the Chief Marketing Officer at a little distributed smart economy network, called NEO. The CTO is a previous R&D Director at Wanxiang Blockchain Lab and Domain Architect of Huawei. There are telegram rumors of an announcement regarding Huawei. This isn't confirmed, but it is clear that they are working together on some basis. Another partnership is with ARM. One of the largest British semiconductor companies in the world.
Beyond the partnerships and team, Bottos has some huge catalysts that will add value in 2018. Not only are Bottos commencing a marketing campaign focused on the Western world, but they will shortly release their Testnet (March) and Mainnet (May). The token price is likely to rise in anticipation of this.
The current token is ERC20 (Ethereum-based), but Bottos will soon have its own blockchain, where projects can run AI applications, create tokens and hold crowdsales on the platform. Bottos is the Ethereum of AI. Most companies (aside from giants like Google and Facebook) don't have the resources to invest in AI research. This distributed economy of computing power puts AI applications in the hands of regular businesses and it will be a huge resource in the future. The BTO token will be used within these AI applications to pay for data, applications and purchase shared AI models via the blockchain. This is the biggest advantage over competitors, like Deepbrain Chain (DBC), which run only one algorithm on a distributed series of machines.
With 360 million coins circulating, Bottos has a $70 mil market cap currently. If BTO reaches the market cap of DBC at its peak (of $600 million), thats a 9x return from today’s price. But I think Bottos can be even bigger.
https://medium.com/bottos/draper-dragon-digital-fund-invests-in-bottos-298ee295a72e
https://www.bottos.org/
submitted by mdreamy to CryptoCurrency [link] [comments]

Bonehead's Ethereum News to Come (Updated)

NEWs To Come - last updated - April 5th, 2016
Ethereum’s ecosystem is growing so quickly, very exciting news has a habit of coming out of nowhere. That said, there are more than a few things to have on our radar. Thanks to help from this community, here’s a current list. As always, what am I missing?
Ethereum Blockchain Development
Other news we know will happen
Coin relays and interoperability
One very powerful aspect of Ethereum’s blockchain is it allows both formal relays between blockchains as well as general interoperability between chains. Relays allow Ethereum to empower other blockchains, basically letting these more classic chains (like Bitcoin and Dogecoin) use Ethereum as a service for smart contracts. This “bonded sidechain” is more powerful/flexible path to using smart contracts than building non-currency agnostic chains. Similarly, interoperability is a classic concept in software development with over 30 years of history. Ethereum’s Virtual Machine (EVM) greatly facilitates multi-chain interoperability – which could allow private chains to communicate with Ethereum’s public chain. Basically, Ethereum facilitates “chaining all the things”. In other words, even future private chains could interoperate with the Ethereum public blockchain to have a gateway between their secured private chain and the more global public chain. Private chain development is a GOOD thing under this model, even if that private chain is not an Ethereum fork.
Current examples
Public Dapps and/or ventures to keep an eye on
Ethereum ecosystem is growing in unbelievable way with well over a 100 DApps. Below are some DApps and ventures that have been commonly discussed and seem to be generating news sooner than later.
Many of Ethereum's 100+ DApps will fail, but it only takes one to succeed to bring Ethereum to the mainstream. That said, sadly, there will also be scams. We should never forget Bitcoin's NeoBee or any of the MANY failed exchanges. As a community, we'll want to keep a close eye out in more ways than one. Be enthusiastic but critical - with transparency being absolutely key to trust.
Developer tools to keep an eye on
Ether ATMs
Embedded Devices
Potential surprises that are not really surprises
Parting statement
Ethereum has essentially a monopoly on smart contracts, and from the list above, it should be clear that it has built a remarkable network effect around this ecosystem. It is a disruptive technology, that fosters synergies, and when put in a greater perspective, it’s market cap remains quite tiny, especially when you think of the relative size of the growing community.
Please let me know if there is something you'd like to see.
Concerns
You can support my ETH sleuthing addiction:
0x082b594a0fbb4faa007e72f3a31d56764ac4de66
submitted by nbr1bonehead to ethtrader [link] [comments]

Wanchain Newsletter - August 2018

Wanchain Newsletter - August 2018

https://preview.redd.it/fmqb2v72zhj11.png?width=721&format=png&auto=webp&s=461ae33be7ed3d9a6129cb82a50e658b3a389a60
Wanchain Community,
August was another exciting month for our team and the cryptocurrency industry as a whole. Despite the challenges the ecosystem faces, we remained focused on building. We're confident in our ability to execute our vision. Our team continues to work diligently, evidenced by the significant progress made towards the launch of Wanchain 3.0!
In case you missed it, we've compiled highlights from Wanchain and our greater community from August 2018. As always, we sincerely appreciate your support. More details coming soon!
Tweet of the Month
https://preview.redd.it/v12tusngzhj11.png?width=596&format=png&auto=webp&s=568bbc7d663b7389a9b14e429246285b969348c9
Meet the Wanchain Team
![img](37mnxnf90ij11 "https://www.youtube.com/watch?v=Itsbuh1HtJY ")
The past months has been a difficult time for everyone in the space. Through it all, we have not lost track of our mission. It is important to reflect on the tremendous progress we have already made.-Jack Lu
A Letter To Our Community
The past months have been a difficult time for everyone in the space. Projects, Individuals, and ICOs have all suffered from the same fate: uncertainty. Through it all, we have no lost track of our mission. We are committed to delivering everything in our whitepaper and more.

Wanchain Office: Beijing, China
https://medium.com/wanchain-foundation/a-letter-to-our-community-8bba64ff1cc0
Community Updates
Wanchain Joins the Enterprise Ethereum Alliance

https://medium.com/wanchain-foundation/wanchain-joins-the-enterprise-ethereum-alliance-6822dfb659d2
Ledger Nano S Now Supports Wancoin!

https://medium.com/wanchain-foundation/ledger-support-for-wan-da891717186
Wanchain Announced A Partnership With Kronos

https://medium.com/wanchain-foundation/wanchain-x-kronos-a1f2cad8d842

![img](h4htw1pm2ij11 "Developers at Wanchain working towards our 3.0 milestone, Bitcoin Interoperability. ")
The Story Behind Jack Lu
Check out this in-depth interview with our founder and CEO, Jack Lu. From his time at Factom to today at Wanchain, our CEO has quite the interesting background.

https://medium.com/@liluzivertcoin/interview-with-jack-lu-founder-and-ceo-wanchain-1a994e43ef1a

Wanchain 2.0 Launch Event - Austin, TX 2018

https://www.youtube.com/watch?v=P9aRHqGZ7KM
Community Articles
Token Top Article on WAN, here.The Crypto Globalist Coverage, here.NewsBTC Article on Wanchain, here.Crypto Token Sale Announcement, here.Wanchain Joins The Token Alliance, here.Wanchain 2.0 and WanLabs Meetup, here.Interview with CEO & Founder — Jack Lu, here.BitcoinExchange Guide Coverage of Wanchain, here.
Community Events
Past eventsWanchain 2.0 and WanLabs Event: Austin, TX
Meetup: Wanchain 2.0 and WanLabs: Beijing, China
https://preview.redd.it/eh6dpzxb4ij11.png?width=800&format=png&auto=webp&s=1b86a6f3b507f273a9a636a060b5a317bf95a523
https://preview.redd.it/99hexete4ij11.png?width=564&format=png&auto=webp&s=1a4f4d76d8e8cf9ae16fb5c121dd4a781996eede

Upcoming Events
  • Wanchain 2.0 &WanLabs Meetup: Shenzhen, China - 09/16/2018
  • XBlockchain Summit: Bali, Indonesia - 09/10/2018 - 09/10/2018
  • Wanxiang Blockchain Hackathon: Shanghai, China - 09/7/2018 - 09/9/2018
For Your Safety: The Wanchain team will NEVER ask you for your private keys or to deposit funds to any wallet address.

Want to learn more about Wanchain and its growing ecosystem? Join our other social platforms!

Discord: https://discord.gg/3DpeV6W
Telegram Chat: https://t.me/WanchainCHAT
Telegram Announcements: https://t.me/WanchainANN
Medium: https://medium.com/wanchain-foundation
Facebook: https://www.facebook.com/wanchainfoundation
Twitter: https://twitter.com/wanchain_org
Instagram: https://www.instagram.com/wanchain_org
Copyright © 2018 Wanchain Foundation Ltd, All rights reserved.
submitted by liam_wan to wanchain [link] [comments]

August 28th Update from CEO Jarrod Dicker

A Global Effort
Po.et is a global entity. We are building the decentralized protocol for all information ownership, discovery and monetization. The protocol must acknowledge, structure and prepare for usage and value by creators across the entire world. That is why we’re heading to China.
The media and publishing industries in China, like its counterparts around the globe, are hungry for new ways of distributing information. The value of blockchain, specifically claims, will build new ways to confirm the authenticity of sources, collaborating and achieving greater levels of transparency and expose the most important information for consumers and creators alike. These are all things that Po.et will help achieve.
In two weeks, I’ll be attending Shanghai International Blockchain Week (September 11-12), where I’ll have the chance to meet with representatives, blockchain companies, potential partners, the local community and Po.et team to educate more on how Po.et can help grow and strengthen the publishing and media industries in China with the goal of applying those learnings to other countries and regions.
While I’m there, on September 11, I’ll also be giving a keynote fireside chat with BTC Media CEO David Bailey at the 4th annual Global Blockchain Summit presented by China blockchain leader Wanxiang Group. If you can’t make that event but will be in Shanghai, be sure to catch me and the local Po.et team at a meet-up on the evening of September 10. We’ll focus on Po.et’s tech development and the implications of blockchain applications in media and publishing. Details of the location and timing will be shared shortly.
And if being in Australia fits your schedule better than China, you can also hear me speak during the afternoon session of the INFORM 2018 News Media Summit in Sydney on September 14. It is in essential event for advertising and media professionals who either work with or within news media brands and is expected to attract more than 400 delegates.
Dave Turner, our head of product, will be in Austin, Texas, September 13-15 speaking at the Online News Association’s annual ONA18 conference, which will bring more than 2,500 of the best and brightest digital journalists, educators and technologists together.
Now the good stuff.
Engineering Progress
While I’ve been busy preparing for our engagements in China and Australia, Po.et engineers have been making steady progress toward the Po.et mainnet release. I’d like to take a moment to call out some of their major recent achievements.
Our latest, greatest milestone – and it is a significant one – is the implementation of claim batching. For those of you not versed in technical terminology, here’s what claim batching means, as explained by Po.et VP of Engineering Eric Elliott:
Our ability to process large volumes of data on the Po.et Network will no longer be limited by severe scalability limitations of the Bitcoin blockchain. If a big media publisher needs to process 100,000 claims per second, we can make that work.
To put it another way: Po.et will now be able to process as many claims per second as users need, virtually without limit. This is a big deal, because if you know anything about blockchain technology, you’re aware that scalability limitations in the major public blockchains – because they can only process a relatively small number of transactions at once – have long been a thorn in the side of many blockchain software platforms. They won’t be for Po.et.
Beyond claim batching, I’m happy to report that overall, progress toward completion of mainnet nears 80% and all of our work towards features, partnerships and documentation are progressing.
Our next big steps include improving interactions with the Bitcoin blockchain, separating claims from works within Po.et’s storage layer and more. Oh, and did I mention Main net?
There is a lot more coming in a short amount of time. Don’t forget to blink.
Until next time.
JD
submitted by studiomaniche to poetproject [link] [comments]

Deep Analysis Of Qtum's Account Abstraction Layer (Qtum AAL)

Analysis of Qtum Account Abstraction Layer (AAL) Implementation
https://mp.weixin.qq.com/s?__biz=MzI2MzM2NDQ2NA==&mid=2247485993&idx=1&sn=57ad353fd13b10ab85b62d693f86b1f5&chksm=eabc4036ddcbc9208ea766274defc543a9238967c5d2c541e615906a25a2962d75c4c6bd2c2b&scene=21#wechat_redirect
Qtum is designed with a bitcoin UTXO-based account model and implements a smart contract that supports the EVM specification, which is done through the Account Abstract Layer (ALA). AAL adapts the UTXO account to the EVM contract account, so that the AAL can use the UTXO transaction output to create a smart contract on the chain, send the transaction to the contract account to trigger the execution of the contract, and the AAL will eventually execute after the execution. The results were processed and adapted to UTXO. Thanks to the AAL, contract developers don't need to care about the UTXO transformation details related to contract operations, they can use the features of EVM to develop and are compatible with existing Ethereum smart contracts. This paper first analyzes the working process of AAL by interpreting the implementation code from UTXO transaction to smart contract execution.
 
1. UTMO transaction added script opcode
Qtum has added three opcodes OP_CREATE, OP_CALL and OP_SPEND for UTXO trading scripts to provide operational support for conversion between UTXO and EVM account models. These opcodes are defined in the opcodetype enumeration type:
 
Enum opcodetype{
......
OP_CREATE = 0xc1,
OP_CALL = 0xc2,
OP_SPEND= 0xc3,
......
}
 
These three opcodes have the following effects:
OP_CREATE is used to create smart contracts;
OP_CALL is used for the execution of the contract;
OP_SPEND is used for the cost of the contract balance.
In order to identify and process the transactions controlled by these opcodes during the block generation process, the HasCreateOrCall() and HasOpSpend() functions are added to the class CTransaction for UTXO model transactions for use in the mempool in the new block. The transaction is processed and the corresponding processing is added to the EvalScript() function of the script opcode parsing.
 
2. Conversion of UTXO transactions to EVM model transactions
When generating new blocks, in addition to regular parameter legality, consensus rules, DDOS attack checks, etc. for UTXO transactions, it is also necessary to use the opcode check function HasCreateOrCall() to determine whether the transaction output contains OP_CREATE or OP_CALL, which respectively correspond to EVM needs to perform contract creation or contract calls. This section has the following processing:
 
2.1 Performing account parameter extraction for EVM model
The contract uses the data, gasPrice, gasLimit, and VM version parameters in the execution of the EVM. These parameters are sent by the RPC call sendtocontract. The sendtocontract generates a UTXO transaction and uses the OP_CALL opcode in the transaction output. Will be broadcast to the blockchain network. The adaptation from UTXO to EVM in AAL is implemented by the QtumTxConverter class, in which the member functions extractQtumTransactions() and parseEthTXParams() of the class complete the parameter extraction for all such UTXO transaction output. The code fragment is as follows:
 
Dev::Address receiveAddress;
Valtype vecAddr;
If (opcode == OP_CALL)
{
vecAddr = stack.back();
Stack.pop_back();
receiveAddress = dev::Address(vecAddr);
}
Valtype code(stack.back());
Stack.pop_back();
Uint64_t gasPrice = CScriptNum::vch_to_uint64(stack.back());
Stack.pop_back();
Uint64_t gasLimit = CScriptNum::vch_to_uint64(stack.back());
Stack.pop_back();
VersionVM version(CScriptNum::vch_to_uint64(stack.back()));
Stack.pop_back();
Return EthTransactionParams{version, dev::u256(gasLimit), dev::u256(gasPrice), code,
receiveAddress }
 
The above code first judges that if the opcode is OP_CALL, the contract with the address vecAddr has been created, so it is directly converted into the address of the EVM format receiveAddress, otherwise it is OP_CREATE, the corresponding contract is created, there is no such field, so no extraction is done. Next, the data, gasPrice, gasLimit, and VM version are extracted in turn, which are all essential parameters for the EVM to execute bytecode.
 
2.2 Transaction conversion of the EVM account model
Transaction conversion is done through the function createEthTX() of the QtumTxConverter class. The QtumTransaction type transaction is created using the parameters extracted in the previous step and the UTXO transaction output vout. Since QtumTransaction is derived from the dev::eth::Transaction class in EVM, the QtumTransaction class is supported by operations related to EVM execution.
 
QtumTransaction txEth;
If ( etp.receiveAddress == dev::Address() ) {
txEth = QtumTransaction(txBit.vout[nOut].nValue, etp.gasPrice, (etp.gasLimit *
Etp.gasPrice),
Etp.code, dev::u256(0));
}
Else{
txEth = QtumTransaction(txBit.vout[nOut].nValue, etp.gasPrice, (etp.gasLimit *
Etp.gasPrice),
etp.receiveAddress, etp.code, dev::u256(0));
}
Dev::Address sender(GetSenderAddress(txBit, view));
txEth.forceSender(sender);
txEth.setHashWith(uintToh256(txBit.GetHash()));
txEth.setNVout(nOut);
 
First, the code etp.receiveAddress == dev::Address() determines whether the contract is not in the EVM state and needs to be newly created or the contract already included in the EVM state. The only difference is the contract address. Then, the QtumTransaction() constructor completes some of the transaction parameter constructs, the next statement extracts the sender of the transaction, and then sets the transaction HASH. A UTXO transaction supports multiple inputs and outputs. Qtum's AAL design takes this into account, so AAL supports a transaction output containing UTXO accounts and contract accounts. The last set nOut indicates that the nOut output of the transaction is sent to the smart contract. , so this output will trigger contract execution. In this way, the transaction conversion is completed according to the EVM account model.
 
3. Contract execution and UTXO conversion of execution results
The execution of the contract changes state (managed by the QtumState class's instantiated object globalState). For the contract state, Qtum follows the EVM definition, so it is compatible with all EVM-compliant smart contracts. But the transfer of the account amount, Qtum made a UTXO conversion, which means that the smart contract and the ordinary UTXO model account can complete the interaction, which is an important part of AAL to achieve UTXO support smart contract. The following is a brief introduction to the conversion process of contract execution and status results.
 
3.1 Contract execution environment construction and contract execution
The execution of the contract is a critical step in the processing of the contract, directly affecting the state of the contract. The implementation of the EVM to the contract bytecode is implemented by the ByteCodeExec class. The main function is performByteCode(). The main process of this step is to use the transaction parameters extracted above to build the virtual machine execution environment, and then complete the execution of the contract, the code is as follows:
 
For(QtumTransaction& tx : txs){
Dev::eth::EnvInfo envInfo(BuildEVMEnvironment());
Std::unique_ptr
Se(dev::eth::ChainParams(dev::eth::genesisInfo(dev::eth::Network::HomesteadTest)).
createSealEngine());
If(!tx.isCreation() && !globalState->addressInUse(tx.receiveAddress())){
Dev::eth::ExecutionResult execRes;
execRes.excepted = dev::eth::TransactionException::Unknown;
Result.push_back(ResultExecute{execRes, dev::eth::TransactionReceipt(dev::h256(),
Dev::u256(), dev::eth::LogEntries()), CTransaction()});
Continue;
}
Result.push_back(globalState->execute(envInfo, *se.get(), tx, type, OnOpFunc()));
}
 
The first is to build a contract execution environment, which is done by BuildEVMEnvironment(). It can be seen that this execution environment is carried out for each independent transaction, so as to minimize the contract execution process of different transactions and avoid the cross-effects in the contract execution process. Then build a new sealEngine class, which is the EVM execution engine, which is done by the createSealEngine() function. In the middle, the possible state exceptions that occur are checked, and then globalState->execute() completes the execution of the contract. Here, the execution environment envInfo and the EVM execution engine se are used.
 
3.2 UTXO conversion of contract execution results
After the completion of the contract execution, the result is stored in vector result. The vector vector records the transfer relationship between EVM accounts generated by each contract execution. AAL completes the transfer from EVM account model to UTXO model by converting these transfers into UTXO transactions. Conversion of the transaction. This processing is implemented by the processingResults() function. The following is a code snippet.
 
ByteCodeExecResult resultBCE;
For(size_t i = 0; i < result.size(); i++){
If(result[i].execRes.excepted != dev::eth::TransactionException::None){
If(txs[i].value() > 0){
CMutableTransaction tx;
Tx.vin.push_back(CTxIn(h256Touint(txs[i].getHashWith()), txs[i].getNVout(), CScript() <<
OP_SPEND));
CScript script(CScript() << OP_DUP << OP_HASH160 << txs[i].sender().asBytes() <<
OP_EQUALVERIFY << OP_CHECKSIG);
Tx.vout.push_back(CTxOut(CAmount(txs[i].value()), script));
resultBCE.valueTransfers.push_back(CTransaction(tx));
}
} else {
resultBCE.usedFee += CAmount(result[i].execRes.gasUsed);
CAmount ref((txs[i].gas() - result[i].execRes.gasUsed) * txs[i].gasPrice());
If(ref > 0){
CScript script(CScript() << OP_DUP << OP_HASH160 << txs[i].sender().asBytes() <<
OP_EQUALVERIFY << OP_CHECKSIG);
resultBCE.refundOutputs.push_back(CTxOut(ref, script));
resultBCE.refundSender += ref;
}
} if(result[i].tx != CTransaction()){
resultBCE.valueTransfers.push_back(result[i].tx);
}}
 
First, the resultBCE variable of type ByteCodeExecResult is defined to save the result of the conversion. Use the opcode OP_SPEND to implement the transaction cost, because the UTXO of Bitcoin uses the private key signature to realize the balance after the transaction input is unlocked, and the EVM implementation involves the transfer between different accounts, so these need to be implemented by OP_SPEND Transfer to UTXO model trading conversion. If execRes.excepted is not None, ie the contract execution exception, the balance is returned to the contract caller. Otherwise, if there is no abnormality, the remaining gas after deducting the consumed gas is returned to the caller of the contract. For the transfer that occurs during contract execution, its UTXO transaction is stored in result[i].tx. Therefore, transactions between different UTXO accounts generated by this process of contract execution are stored in the valueTransfers vector, and eventually these transactions are included in the new block. At this point, the AAL module completes the conversion from EVM transactions to UTXO.
 
4. Summary
AAL assists in the creation, execution, and cost of contracts through the addition of UTXO script opcodes. Before the contract is created and executed, the conversion of the UTXO transaction to the EVM model transaction is required, and then the executed EVM execution environment and engine are used to complete the execution of the contract. AAL finally processed the results of the contract and adapted it from EVM to UTXO, thus implementing a UTXO-based smart contract. AAL makes Qtum compatible with EVM-compliant smart contracts, providing Dapp with a new base platform, while UTXO's advantages allow for advantages such as parallel processing and privacy.
 
Huaming
He is currently a Qtum core developer and researcher. He graduated from Huazhong University of Science and Technology and has a graduate degree from the Chinese Academy of Sciences. Prior to joining Qtum, he has been engaged in the development of algorithms and protocol stacks for many years of wireless networks (including 4G LTE and wireless ad hoc networks); since 2015, he has been in contact with blockchain technology and has participated in the first hackathon competition organized by Wanxiang Blockchain. .
submitted by thisthingismud to Qtum [link] [comments]

INK - IP on the Blockchain (Asian coin under the radar)

Whitepaper

Overview

Ever since discovering AntShares (NEO) finding new asian coins has become a hobby of mine.
I’ve found a token called INK which looks to have some great potential. Their token sale was last week and sold out, my friend from Korea told me he participated in the sale (the last token sale he participated in was TRON) which is how I found out about it — I found some great information on the team, advisors, partnerships, etc. which you’ll find below.
The vision of Ink is to provide Sovereign Consortium Blockchains to different use cases, to build a blockchain based infrastructure for the Creative Industry where various applications were possible and correlate to each other in one system. Based on public blockchain (Qtum), an Intellectual Property Assets Exchange is built as a trusted corridor for cash generation and token issuance, making it an integrated ecosystem. At the same time, the cross-chain protocol enables value and information to flow freely between public blockchain and consortium blockchains.
If you aren't familiar with Qtum, they took Bitcoin UTXO and put it together with the EVM (Ethereum virtual machine) - they are launching QRC-20 tokens on their chain similar to ERC-20 tokens. INK is a QRC-20 token.
The problems in the creative industry today:
Ink’s solution:

Roadmap

April 2016 - Ziggurat tech, member of Ink council, received seed-round investment October 2016 - Ziggurat copyright assets management platform http://ziggurat.cn of blockchain was launched Dec 2016 - Original works registered on Ziggurat.cn passed 6000. More than 10 partnerships formed. March 2017 - Founding team of Ink established along with core mission and roadmap April 2017 - Ink receives million-dollar angel investment, new phase begins May 2017 - Founding team of Ink invited to Big Data Expo. Signed strategic partnership with Guiyang Government in China July 2017 - Ink gains multimillion dollar pre-a round financing Sept 2017 - Ink Soverign Consortium blockchain enters testing phase Oct 2017 - Whitepaper released Nov 2017 - Ink token sale (sold out) Dec 2017 - Ink to launch open platform for DAPP Development Jan 2018 - Crosschain protocol to be proven successful between Ink and Qtum blockchain Feb 2018 - Ink to launch first batch of international IP tokens March 2018 - Beta launch of IP Asset Exchange

Team

Tang Ling
Early adopter of blockchain and expert of intellectual property. Tang Ling dedicates himself to the practical application of blockchain in the Creative Industry since 2010. He has extensive resource in global creative industries.
Ismail Malik
Ismail is a renowned figure in blockchain and digital currency in Europe. He has rich experience in commercial application of blockchain, and has been directly involved in the management of multiple blockchain projects.
Walter Komare
Walter is the CEO, President and Managing Partner of Forbesfone (the biggest telecom company in Malta). He is also the CEO of Angel Investment. Walter is a well-versed figure in the European telecom market.
Tsukikawa Yuu
Yuu is an active promoter of blockchain development in Japan. As an early investor of Bitcoin, he maintains long-term cooperation with the largest cryptocurrency trading platform ZAIF in Japan.

Core Developers

Chen Chang
He received master’s degree from Tsinghua University. He was a senior researcher at IBM, and has been one of the earliest researchers and promoters of the blockchain technology. Chang is an expert in cloud computing, blockchain, machine learning, etc. He is the core developer of the Hyperledger open source project, and has rich experience in the underlying development and applications of blockchain. He was in charge of the architecture design and implementation of the enterprise blockchain solution. He led and developed several blockchain service platforms. Chang is also the co-author of “the Principle, Design and Application of Blockchain”.
Dr Wang Hao Hao is the founder of WuGeYunTong Technology. He won the championship of International Blockchain Development Competition. Hao received bachelor’s degrees from the Department of Automation and Mathematics in Tsinghua University and doctorate in Computer Vision and Control. He led WuGeYunTong and developed visual inspection and recognition technology, for which he received five patents on visual recognition algorithm invention and seven copyrights on visual recognition software. He also has rich experience in developing technical architecture, DevOps and mobile apps.
Dr Gao Zhenfeng Zhenfeng received PhD from the Department of Automation in Tsinghua University. He co-authored the project “Regional Medical Treatment Consortium Blockchain”, which received top prize in “48-hour Blockchain Hackathon” of Wanda Tech & IBM in Mar 2017. His research mainly covers service computing and service recommendation. He published three academic papers on service computing and service recommendation in top international journals.
Dr. Frank Wang Frank is the founder and CEO of Stentor Technology, director of Ink Silicon Valley lab, joint-initiator of blockchain VC Forum and Operation VP of Silicon Valley Wireless Technology Association. He received master’s degree from Nanyang Technological University. Frank focuses on distributed computation and big data technology, and previously worked as a technical engineer for Trusted Computing. As the Chief Data Engineer, his team received the world-leading CES “Innovation and Engineering Award”. Frank is part of the team in the early development stage of Google Transit, a large-scale project. He also designed and developed large financial database for JPMorgan.

Investors and Supporters

Andrew Yan
founder and managing partner of SAIF Partners
Bo Shen
Shenbo is the Partner of Fenbushi Capital and founder of Bitshares.
Patrick Dai
Patrick is the founder of Qtum. He was educated in Draper University and Chinese Academy of Science.
Charles Xue
Charles is the founder of UTStarcom. He is also a well-known angel investor.
Gloria Ai
Gloria is a renowned anchor-woman for finance. She is the Venture Partner of SAIF Partners.
Dr Han Feng
Feng is a tutor at i-Center of Tsinghua University. Feng is the Chief Editor of Wanxiang Blockchain Lab series and Secretary-General of Distributed Autonomous Coalition Association (DACA)
Dr Zhiguo Ma
Zhiguo is the Vice Dean of Law School in Xi’an Jiaotong University. He is a well-respected lawyer, arbitrator and IP judicial authenticator
XinXing Duan
Co-founder of Bytom and Executive CEO of 8btc.

News and more

“We will launch our wallet next week” - Francis Tang, CEO
Medium
Interview with CEO Tang Ling (need to translate)
Ink Joins ACCESS
ACCESS is one of the largest association in Singapore in the space of blockchain and cryptocurrency. The organization is a strong believer in the transformative potential of bitcoin along with other cryptocurrencies and the underlying technology, blockchain. It envisions Singapore as a premier global hub for businesses driven by digital currencies and blockchain technologies.
Ink Receives Strategic Investment from AWARE Capital to Build Global Creative Ecosystem Together
AWARE Capital is a VC Fund that focuses on incubating and investing in local blockchain startups in China. It was founded by senior internet investor Mr. Jianbo Sun and is a new digital asset investment fund in China. AWARE Capital uphold the mission of providing full-fledge support to the value of internet and innovative startups in China. It dedicates itself to bringing the entrepreneurs into the blockchian circle and subsequently stride into the global cryptocurrency capital market.
Ink Infographic - Everything you need to know about Ink
Jeff Garzik tweets about INK token
Ink Receives Strategic Investment from Hcash to Build Blockchain Ecosystem Together

Where do I buy?

It will be trading on https://www.exx.com/ tomorrow and http://gate.io at 8pm EST on Wednesday. They said more exchanges are to come, the tokensale ended a few days ago.
https://medium.com/@inklabsfoundation/ink-will-land-shockingly-on-exx-exchange-5c0f362a78f4
https://twitter.com/gate_io/status/932212467911999488
Overall I haven’t seen any western social media buzz about this project and think it deserves some love due to the strong team, developers, and advisors on this project along with a working product around the corner.
Come join inklabs and join the Ink community for this great project. Become an Inkling!
submitted by zigzagzig to CryptoCurrency [link] [comments]

PlatON team showed up in Distributed 2018 and released the next-generation computing architecture—PlatON

Dr. Feng Xiao and Mr. Lilin Sun, founders of PlatON, with their core team, released the next-generation global computing architecture — PlatON in Distributed 2018 Enterprise Blockchain Conference held on July 19–20, 2018 in San Francisco.
With the rapid development of Internet and the popularization of intelligent terminals, human society is now entering a fully digital age. At the moment and in the foreseeable future, tens of billions or even trillions of smart nodes will be increasingly added to building the global computing network, which creates massive amounts of data continually and exponentially.
It is beyond traditional Internet architecture’s ability to solve the problems such as how to build high-efficiency connections among nodes with full utilization of their idle computing power and storage or how to determine the data sovereignty and data value with data privacy protection and data liquidity. For solutions, the existing blockchain system is embarking on a new path. However, there are still some problems with privacy protection and waste of computing power and resources of the PoW consensus mechanism.
In the fully digital age, a new-generation computing architecture and combination of hardware and software public infrastructure becomes a necessity of tackling various problems in the complex network environment, further improving the efficiency of social production.
PlatON emerges as the times require.
What is PlatON?
PlatON is the next-generation computing architecture for the future and the public infrastructure in the fully digital age. It is therefore not a conventional blockchain technology system, but a service-oriented carrier for the coming future.
On the basis of community evolution and the development of distributed technology, cryptography and blockchain, PlatON proposes a new computational model where the computing power, algorithms and data are recognized as basic services so that they could be deployed as the infrastructure covering the full range of computation, storage and communication. It will provide an open source architecture with services such as public infrastructure software development, consulting and operation to all distributed application developers, resource providers as well as communities, organizations and individuals with computation requirements.
What can PlatON do?
On PlatON, secure data exchanging application chains and applications can be built to provide institutions and individuals with safe and reliable data exchanging and collaborative computing services that makes their data privacy under protection in the process of data sharing. Meanwhile, they are able to preserve data ownership while reaping the economic benefits of data reusing.
Various decentralized applications can also be built on P2P network of PlatON, such as decentralized identity authentication, social network, exchange, payment and settlement. These applications will be working independently of centralized organizations with merits such as decentralization, privacy protection, safety and incentive compatibility.
Any applications, featuring data exchange and computation as a core, can benefit from services of global data collaboration and computing power sharing on PlatON, such as collaborative scientific computation, data transaction, healthcare data consortium, joint credit reporting, social network and Internet of Things.
Featured Cases
Joint Credit Reporting Traditional credit systems are now facing the classic “blind men and an elephant” problem due to limited data sources, unreliable data models, and constrained data sharing. A distributed social credit system on PlatON, with privacy protection, will facilitate integration of data from multiple sources, allowing individuals to manage their own credit data and organizations to carry out joint credit reporting, promoting the construction of a global social credit system.
IoT and Industrial IoT PlatON provides a global infrastructure with data security and privacy protection for large-scale IoT network , integrating the capacity of edge computing, which boosts the development of IoT applications in various industries such as smart manufacturing, Internet-of-Vehicles, agriculture, smart cities, and distributed energy management.
Healthcare Healthcare and genetic data of individuals have the highest privacy requirements and largest amount of data types. An open service platform for healthcare information can be built on PlatON with a unified and general set of data exchange standards to make the connection of heterogeneous data among different organizations. This promotes further analysis and application of healthcare and genetic data to make a global healthcare database network. It can also support services such as individual unified health account and healthcare data consortium.
Why PlatON?
Technology Innovation
Meta Computing Framework — Monad PlatON proposes a new computational model that decouples computation from consensus and supports a linear scalability of computing power. As a kind of innovation, it makes off-chain computation work. Verifiable computation algorithm is applied in order to prevent fraudulent computation while computing performance can be improved by parallel computing.
Homogeneous Multi-chain Architecture PlatON is a decentralized RPC framework. On the RELOAD overlay network PlatON implements a P2P service discovery mechanism which supports dynamic service discovery and registration, service transparent routing and access, service containers with multi-lingual support, as well as service orchestration and service governance.
Technology Advantages PlatON is the first operating network in the world with full privacy protection that applies a great many cryptographic algorithms to preserve data sovereignty and data privacy. As the issue of individual data protection is gaining more and more attention, PlatON finds a new way of data sharing using collaborative computing to avoid the risk of data breach and abuse. It makes it more possible that individuals or institutions have more control over their own data with full privacy protection, which makes data a smoother flow and a more proper use.
PlatON team have been preparing it for over two years. They are now speeding the pace of PlatON primary network going live and open source code licensing. Meanwhile, a general cross-platform client will be launched as well.This enables developers and users around the world to participate in the building of the public infrastructure in the fully digital era.
PlatON will not start an ICO and will fully abide by different rules and regulations of various countries with the assistance of a team of professional legal advisers.
Founder
◇ Feng Xiao
Founder of Wanxiang Blockchain Lab
Founder and investor of Fenbushi Capital
Chairman of Wanxiang Blockchain Co., Ltd.
Ph.D. in Economics, Nankai University
Over 25 years of experience with the securities industry and asset management.
The earliest advocate of blockchain technology in China Leading figure in today’s Blockchain industry.
Early sponsor of Ethereum; invested in over 50 leading blockchain projects around the world.
◇ Lilin Sun
Founder of BCOS open source blockchain software
Master, Wuhan University
Bachelor, Beihang University
Served at China UnionPay as the head of strategic development, in charge of payment innovations.
Entered Bitcoin and blockchain sector in 2013. Began focusing on cryptography in 2016, have been investing in and supporting academic research and engineering implementation of cryptography ever since.
An advocate and sponsor of computational complexity theories such as ZKP, MPC, FHE and algorithm game theory in China and other areas around the world.
White Paper”Let Us Compute — PlatON — The Next-Generation Computing Architecture” is also released. Please download it from the following website: https://www.platon.network/pdf/PlatON_whitepaper.pdf
submitted by PlatON_Network to u/PlatON_Network [link] [comments]

Shining some light on RCN's recent growth and it's future

Hi, I found a coin that not many people talk about here so I would like to get some thoughts. It's getting more exposure on 4chan but there has been maybe 2 threads about it here. Since the price increased of 30% today I felt that I should give some more information. This is a copy and paste of some information that is circulated around 4chan about this coin.
Market cap= 67 Million. What problem it solves: A global peer-to-peer credit network based on co-signed smart contracts. With RCN you aren't limited to just borrowing crypto (btc,eth etc) you can borrow any currency in the world. (USD,CAD,YEN) The RCN team has over 15 developers and genius advisors such as Sergio Lerner the cofounder of rootstock. Key investors= Bilionaire Tim Draper; The guy that found skype in 2005 and sold his share for 1 billion USD recently, the guy that bought 30,000 bitcoin from the us goverment during the silk road closure. Bilioniare Lu Guanqiu ceo of the company Fenbushi Capital;Once called “China’s Elon Musk” for buying out an American hybrid-electric car company, Lu Guanqiu is the founder of Wanxiang Group, one of China’s largest automotive parts manufacturers. ^ These guys do not fuck around google there history. This coin was added on bittrex A WEEK AFTER being released. Name one coin recently that was added to bitterx instnatly? This coin is serious... do you think these billionaires would invest in this coin if it wasn't going to literally 50x? Follow the smart money /biz/ It literally is around ICO price.
The ICO pre-sale had NO BONUSES. Do some googling please. But even if there were, what does Tim Draper have to gain from making 10% on 10 Million? When you're in the billions you're only concerned with making 100s of millions. Thats why they invest in ICO and HOLD. Maybe he'll dump some when its 3-400M market cap, probably not till its nearing a billion (est. Q1 2019) or more. In developing countries such as in South America, it has been reported that up to 65% of the population are Unbanked and may have no access to Credit Facilities through traditional banking. Ripio intends to solve these problem by providing these users with an alternative Credit Facility. The Ripio Credit Network works to connect borrowers, lenders, and other network agents all over the world, allowing each one of them to manage the credit in their local currencies, as long as they have Internet access.
In developing countries such as in South America, it has been reported that up to 65% of the population are Unbanked and may have no access to Credit Facilities through traditional banking. Ripio intends to solve these problem by providing these users with an alternative Credit Facility. The Ripio Credit Network works to connect borrowers, lenders, and other network agents all over the world, allowing each one of them to manage the credit in their local currencies, as long as they have Internet access.
How does it work?
The Network will consist of a Borrower, Lender, Wallet Provider, and Credit Exchange. All of which will be connected through a Smart Contract. The flow of money is as below:
Borrower <- Wallet Provider <- Smart Contract <- Credit Exchange <- Lender
To illustrate:
Let’s say Juan in Argentina wants to borrow $5,000. Lin, who is halfway around the world in Shanghai is willing to loan him the $5,000 + 10% Interest.
Once the terms are agreed, Lin sends the money through the Credit Exchange in Fiat. The Credit Exchange uses that Fiat to purchase RCN Tokens to send it over to Juan’s Wallet Provider through a Smart Contract. Juan receives the RCN Tokens and converts it back to Fiat.
When it is time to repay the loan, Juan returns $5,500 through the same Channel, by using RCN Tokens as a medium. The borrower receives Fiat after converting the RCN Tokens.
All loans work on a Fiat basis between borrower and lender, by simply using RCN Tokens as a medium of exchange.
What does this mean and how can we benefit from it? There are 2 main ways to benefit from the Ripio Credit Network ecosystem:
If you are a lender, you can lend in Fiat and earn interest in Fiat.
If you are a RCN token holder, you will become a liquidity provider to facilitate the P2P loans, and earn through the increase in value of RCN Tokens.
What value does the RCN token holders have and why should the price increase?
All RCN token holders will become liquidity providers. For any loan to go through, RCN tokens will need to be purchased from the Market to facilitate the transfers. The higher the number of transactions, the higher the demand for RCN, and thus the higher the Price of RCN tokens.
Investment Proposition
• The ONLY source of RCN Tokens at the moment are held by the public, as the Company’s tokens are locked for 1 year.
• Ripio has an actual working product with 100k users, all 100k of whom will be migrated to the RCN Exchange next week! - http://rcn.exchange/
• Ripio themselves will be the first big lender, which means that they will go to the market and acquire the RCN tokens, generating demand.
• As new credit exchanges and lenders join to the network there will be even more demand for the RCN token.
• Top A-grade institutional investor such as Pantera Capital, Fenbushi (Vitalik Buterin's Fund), Tim Draper, Digital Currency Group, Medici Ventures, Huiyin Blockchain Ventures has invested in the company
What exchanges have listed RCN?
• Bittrex (despite extremely strict with listing recently) • Binance • Huobi Pro • More to follow..
My personal opinion:
Being from a developing country myself, it is easy to underestimate the number of Unbanked people who have no access to Credit Facilities. Like it or not, Credit is an essential part of expansion and development in an Economy.
As for the Company, what makes Ripio stand out is the creation of a true Utility for their token, whereby all parties in the ecosystem are incentivized to use it and will benefit from it’s increase in Price.
As Vitalik Buterin would say, the Crypto-Economics of their Model is spot on.
This is my personal opinion. As always, do your own research and feel free to leave any comments or questions.
TLDR;
• RCN Tokens are used as “gas” to facilitate P2P loans
• RCN Tokens have to be bought from the open market
• Ripio themselves will act as lenders and purchase RCN Tokens from market
• RCN Exchange launching next week. 100k users migrating
• The higher the number of transactions, the higher the demand, the higher the price of RCN Tokens For an in-depth review, you can read their whitepaper, which is available at https://ripiocredit.network/
The market for alternate finance gained popularity in recent years. A finding by Transparency Market Research suggests that “the opportunity in the global peer-to-peer market will be worth $897.85 billion by the year 2024, from $26.16 billion in 2015. The market is anticipated to rise at a whopping CAGR [Compound Annual Growth Rate] of 48.2% between 2016 and 2024.”
While Research and Markets estimates the global P2P lending market to grow at a CAGR of 53.06% during the five year period between 2016 and 2020. Morgan Stanley in a report in 2015 predicted that such marketplace lending would command $150 billion to $490 billion globally by 2020.
http://www.nasdaq.com/article/the-rise-of-peertopeer-p2p-lending-cm685513
Ripio's value is not based on a coin gimmick, the tech behind RCN is nothing special. Ripio's value comes from the fact that it has proven people going into an industry that is sure to rise and they will start making money in the near future, not 2-3 years from now, but NEXT year. By april their roadmap will be complete.
So, what do you guys think?
submitted by strongandweak to CryptoCurrency [link] [comments]

Some Key notes from Wanxiang Blockchain Summit held in Shanghai, share with you.

As a big fan of Ark, i've been investing for a long time. I just attended Wanxiang Blockchain Summit, wanna share some note with ark society. Hope this community can have some in depth discussion about the future of blockchain and ark's possible role.
Vitalik: The main challenge limiting blockchain development has been scalability and safety. In future there will be more private chain.
Joseph Poon (Plasma): Most challenging issues from 2017 onwards are 1. data availability, 2. deal with multi blockchain, which Plasma provide a solution of root chain (Etherem) and many other private chains build ontop.
Tom Ding (String Labs, Dfinity): Bitcoin is blockchain 1.0, while Etherem is blockchain 2.0, Dfinity will be blockchain 3.0 with nearly instant consensus solution. (He said this in front of Vitalik).
There are many more speakers shared their views but I only put some points that I think are interesting and may have have some link with Ark's vision.
Discussions are welcome!
submitted by aaronwmc to ArkEcosystem [link] [comments]

Blockchain summit report: Day 1 - "Enterprise cloud"

previous days
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Event details
Today was day 1 of the 2 day "International Blockchain summit" presentations. On every seat was a little bag that had 3 books about the Blockchain! Unfortunately they were all in Chinese.
http://imgur.com/jmkRYVj http://imgur.com/g66KeRD
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Presentations summary
Whereas DEVCON2 was all about development, and leveraging the network effects of leveraging other projects in the ecosystem, the presentations today were VERY high level talks.
There was a massive stark difference between "the old guard" in the Fintech space, and the disruptors that are shaking things up.
Take a look at the BOC (Bank of China) and ChinaLedger presentations. They talk about how Distributed computing is dangerous. ChinaLedger go on to say that they need the power to be able to go in and halt transactions, modify smart contracts on the fly, liquidate accounts when they need. While also saying that they will make sure they will do everything to help privacy and use encryption… which only the Government can unlock ("Golden keys"?). It was the most centralised "Blockchain" I have ever heard of.
On the flip side I was inspired by the forward thinking of the Consensys presentation, and their long term vision for where to drive the Ethereum platform. They are helping to create open tools and platforms that will be leveragable by a multitude of projects (as demonstrated with Ujo and BHP project "Rai stones").
http://imgur.com/AXHw1Df
After the Consensys presentation, my 2nd favourite presentation was by Wanxiang labs "10 years to build a city", talking about how they plan on taking some land and creating from scratch a smart city powered by the blockchain and electric vehicles. While the other old guard are squabbling about how it is going to impact their "business as usual" profits, there were the new projects out there envisioning and disrupting.
The BHP presentation was also pretty cool, a great implemenation of using Blockchain to improve a business process.
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Presentations
New Finance: Technical & Legal rules - BoC He is from bank of China. Entire presentation was him being scared and trying to justify why current Blockchain tech is an unregulated wasteland, and why there needs to be regulation from banks and government.
For Fintech they think Blockchain will not be successful without proper regulations Blockchain finance - it is distributed. Storing all of the transactions will take a lot of storage space. What to do once the transaction rates exceed what can be processed. Thinks that public distributed transactions will not be more than a toy like with Bitcoin. For real FinTech they need something different for a high frequency. Thinks that decentralisation should not be the core feature of Blockchains (due to transaction limit). Thinks it should be decentralised, not distributed.
Should be done with private consortiums. Needs legal rules and technical rules. They think that self rulemaking currencies (Bitcoin) can not be regulated. So need to stop them, to prevent bad things like money laundering. This is showing the loopholes brought about by Bitcoin. So when using digital currencies, they need certifications and tracking.
"We need more regulations and rules to facilitate the healthy development of this space. Only with support of regulations can new technology take off".
Me: I totally disagree… (if not already apparent)
Blockchain futures & realities - CSDC
China Securities Depository and clearinghouse
He was much more open minded and forward looking. Is a pep talk for "things are going to change", how are we going to use these new things. He said that he recorded it into English that should be able to be downloaded, would be worth watching if you are into this space.
Summary: Genie is out of the bottle, we need to embrace this and think how we are going to put the requirements of securities ("real name transactions") in a decentralised way. And the registration and tracking of assets to real names.
People have ideals because they are not happy with reality. Due to this dissatisfaction, people are passionate about trying to make that dream a reality. Need to play by the rules, or the market will be chaos. So now we have facilities law, regulations, etc. This forms the framework of China economic. This is very different from Blockchain. This is at odds to the distributed systems. Seems like we are dissatisfied with this, so trying to reconcile these differences.
All securities transactions need to follow "real name" transactions, but want to do this in a decentralised manner. Market cap is 54 trillion (of something in China). GDP is over 70 million
They are researching Blockchain, but not just in the lab. Need to find potential applications and use cases for it. If we want to implement Blockchain technologies, we need to see what the hurdles will be, so we can get closer to the ideal. As BoC speaker said, the number of transactions per seconds is HUGE. Daily may reach 10s of millions at its peak. How are we going to handle this with a theoretical framework. Need to start from the reality of China. And the reality is it is a giant country with a huge population, which depends on the capital market. If you just implement within a lab it is okay. But if it is going to be put into the industry, then we need to work with the government. We can't just get rid of the government, it is impossible (REVOLUTION!!). So need to focus on key senarios to tackle, as you can't just apply Blockchain everywhere simultaneously. Or all your efforts will fruitless. How to complement it initially, not replace it.
Ten years efforts to build a city (Wanxiang Labs)
Me: I reallly liked this presentation. I've been keeping notes for months around building this type of innovative city in Australia. I plan on rewatching this one again later.
Going to build a city in 10 years. An energy gathering city in HangZhou 10KM2. Their US company is starting to build new energy vehicle. 900m RMB? 90k people. Deploy the city into the cloud. Intelligent life, traffic & services. Everything will be connected. IoT, Internet, smart living, smart transport. Once this is successful, they plan on launching it across the world. Will publish their learnings. Launching incubators and accelerators. Their own cloud Blockchain as a Service. Many scenarios in this smart city that could utilise Blockchain. Distribution for Solar power. ID & Vehicle registration. Intelligent community services. Can promote a sharing economy throughout the community. Partnering with Microsoft, IBM, Consensys, Ethereum foundation, WeBank, AliCloud
Vitalik Buterin keynote
Talking of the progress China has made in Blockchain innovation in such a short period of time. He visited China 3 years ago and visited a number of Bitcoin companies and was impressed on the scale of what China had, much more than what was happening in USA. But all the focus was just on cryptocurrencies, not Blockchain technologies, Just mining. 2nd time, he saw some kind of experimentation happening with interesting things (like coloured coins?) 3rd time saw more interest in Blockchains. 4th? time, he did a hackathon with Wanxiang labs (event sponsor), and there were ~30 projects. The growth since then has been rapidly growing. The scale of projects we couldn't have imagined 3 years ago. Was just theoretical, now a lot of ideas are almost reality. e.g. Self-sovereign identity, instant settlement.
Hyperledger
https://www.hyperledger.org/ Goals. Build an opensource dev focused community of communities to build a hyperledger based solution. Create a family of "etnerprise grade" open source blockchain framework, platform & libraries.
Because it is an enterprise opensource project, they need to track contributions, patent details, etc. Is part of the Linux Foundation, which has 16 years of providing governance stucture support for major open source projects. 80 project partners. IBM, Intel, Accenture, JP Morgan, Airbus, ANZ bank, Cisco, etc. 20 of the 80 project partners, are based in China. Apache license v2.
A world or many chains. There will not be only one blockchain. There will be many public chians and millions of private chains. Each may use different consensus mechanisms.
Major projects are: Fabric: Developed by IBM. PBFT, moving to Raft and other pluggable consensus mechanisms. Written in Go. Sawtooth Lake: Proof of Elapsed Time. Runs on secure enclaves. Written in Python. Hyperledger explorer: GUI for navigating Fabric & swatooth lake. Fabric-py SDK. (Java proposed later).
Future: Smart contract engines. Portable identities. Will never see a "HyperCoin". It is about making Hyperledger a standard, and a governance group.
IBM keynote - IBM Blockchain & Hyperledger
Today if you want to do something in your business on Blockchain it is difficult. Hard to scale, issues with privacy. No Enterprise support. Need tools to write tests for smart contracts. Need good solution patterns. Difficult to scale up, especially around transaction rates.
Built Fabric to support "serious business" Permissioned blockchains can't scale. Every node shouldn't execute every transaction. The 2 peers that are interacting are the only ones that should execute. IBM has implemented this internally to resolve invoice disputes with their suppliers.
IBM
All the slides were in Chinese. Difficult to follow unfortuantely. The (original) Silk Road was important for trade. Blockchain may be just as important for trade in the future People are debating the need of distributed systems being an important thing of Blockchains, is it really necessiary? Blockchain should instead be focused on unblocking instead. IBM will provide an IBM certified docker container. IBM Blockchain. http://www-31.ibm.com/ibm/cn/blockchain/index.html Has a concept of a "shadow chain"?
Blockchain Platform @ Microsoft
At Devcon1 Microsoft announced Blockchain as a Service. Rolled out DevTest Labs to allow you to spin up public, private, permissioned, and consotrium blockchians quickly. Provisoin with 1 click. Mix & match from best available blockchain tech.
Bletchley: Open infrastructure, Enterprise capabilities. Microsoft is not building their own Blockchain.
Blockchain has some missing parts (identity, privacy, key management lifecycle, tools). Asked our partners what are the missing parts. A database in itself isn't an application.
(re)Announcing: Bletchley v1. 2 parts. Distributed infrastructure layer (Blockapps, R3, bitpay, parity, Eris). There isn't going to be 1 Blockchain to rule them all, so allow you to leverage any of them. Lots of customers were taking a long time trying to spin up private consortiums, and trying to secure them correctly. Used to take 3 weeks, now down to 8 questions and 5 minutes. Spins up a private Ethereum consortium. 4-100s of nodes.
Distributed middleware "fabric" layer. Tools that can work across many blockchain technologies. Cryptlets are a way of doing offchain processing. Receive market data based on an event (market price daily closing, CRM event). Need to have trusted execution of the logic, to attest that it was not tampered with. Secure IP protected algorithms. Scale an algorithm for max performance by running it off blockchain in a secure & attested way in the cloud. Oracles may be malicious, or they may be intercepted during transmission. Cryptlets run on a secure host with a secure communication channel in a trust envelope. Marketplace for publishing the cryptlets into a market for others to consume. Azure cloud is twice the size of Amazon & Google COMBINED.
Bletchley Cryptlet Fabric. Supports Ethereum, will support more Blockchains. It is middleware that will support many. Secure execution on demand. Standard way of publishing and accessing external resources.
BaaS roadmap. DevTest labs, will continue to onboard more. Bletchley v1. Kinakuta to help improve security. Bletchley SDK
Longer range implications of Ethereum & other decentralising technologies (Consensys) LOVED this presentation.
Simplest view: Next gen database. Blockchain based, maximal replication, Prevents rogue actors Force for universal disintermediation, will distrupt every industry. Previously it was mostly just Bitcoin. Future projects were "BitCoin 2.0", instead of "Blockchain 2.0". So Ethereum project built the most powerful and capable Blockchain platform, both public (permisionless) and private (permissioned) Deeply secure, non-repudiable shared source of truth. Dapp is a set of smart contracts. And a user interface to interact with it. Was important to get an initial version of Ethereum out into the hands of devs, to start thinking how to start building decentralised applications. Ethereum has a vision for scalability, which includes sharding and state channels. Privacy, state channels is one option. Zcash/zk-Snarks is another way.
Currently building out an ecosystem of decentralised applications. Building core components: Identity/persona (uPort, metamask). Wallet (uPort wallet). Registries (Regis, ENS). Token Factory. Do private enterprise Blockchains make sense? Yes, large entities can have a complex internal mix of business units, having a shared source of truth can help. If enterprises have their own private consortium Blockchains, will be a harder target to infiltrate and modify databases. Business processes emboided as state transition graphs.
If you plan on building your own tools or technology on top of Blockchain tech (public or private), build it on Ethereum so it can be reused in many different places by other entities running their private chains Developed "Balance" for real time compliance, accounting auditing and monitoring. Real time dashboard for companies & regulators. Organisations using certified software wil not be able to break or bend any financial accounting rules.
The Blockchain will last for years or decades giving a persistent database. Gives a chance to do persistent portable identity. uPort self-sovereign identity.
Blockapps Announcement
Is Ethereum for Enterprise. Partnered with Microsoft to announce Blockchain as a Service (BaaS). Over 1k projects have used it, over 300 customers. Being released in Azure China datacentre (mooncake), and other Chinese clouds : Alibaba cloud, tencent cloud, Wancloud. Initial China projects: Minsheng insurance, Wanxiang smart city, Qianhai smart city, Shanghai smart city. China is going to be the country leading the world in Blockchain projects.
The Rise of Blockchain Consortia: Uniting the Banking World
One of the largest banks in Spain. Banks are just a ledger (a very large ledger). Each bank has its own ledger. They don't trust each others. Which is why you need clearing houses and things like this. What if there was a shared ledger trusted by all banks. "It's not about the coin, its about the ledger.
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New development of ChinaLedger: Forging a powerful tool for Chinese capital market in the FinTech era
Was literally the most centralised blockchain I have ever heard of. Please excuse me as I rant inline.
ChinaLedger is a consortium. 11 founders established it. Chinese financial institutions and Wanxiang labs. "we created our own Blockchain and tools". Will come up with their own custom software and implementation. Will create a whitepaper and create reference architecture. Partners will use the network to do transactions. Need facilities to be able to freeze or take over acounts, and get access to all data. A need to be able to halt or freeze a transaction or smart contract. A need to be able to halt or freeze a transaction or smart contract. and the facility to liquidate an account or smart conract or manually change the state of a smart contract We need to be able to stop the trading of certain stocks. Let regulators control things. Will be fully in control of the gas. Wants to support 100k/s and 1 ms latency.
Then ironically says tries to say they are going to put privacy into this. "Everything will be encrypted and private. Except that CCP & regulators who will have ability to read everything". I'm SURE that won't be abused…
http://imgur.com/Qt4qh3O You keep using that word... Blockchain, distributed ledger, privacy, encryption
Re-imagining Global Payments (For business)
Banks make a LOT of money from bank wires. So they have no incentive to come up with anything better. The person sending the money needs to give 26 pieces of information. Don't know when you'll get the money, what the rate will be. About $20 to send, $20 to receive, plus lose a few percentage through the conversion.
Their solution (for business payments). Register for an account, can use online. No fees. Transparent FX rate. Can track the payment. Uses Bitcoin in the middle. Before international calls used to call many $s per minute. Now with VoIP (Skype) you can do it for cents. Same thing will happen to international money transfers.
Enabling Global P2P Cash Transfers with Abra (For consumer)
https://www.goabra.com/ http://www.coindesk.com/abra-remittance-app-us-launch/
Nowadays you can send an IM to anyone else in the world instantly for free. Why can't you do the same thing with money? Can do it locally in some domestic markets, like paytm (india, WeChat pay (China), mpesa (Africa). But not for cross border transactions. iOS & Android. Real digital cash wallet. Send & receive globally. No FX risk. Add cash via bank or in person. As private as paper cash. Abra tellers earn $$ (as a percentage fee). The wallet is stored locally on the phone. So you "physically" control it. (need to back up your private key). Use an Abra teller (someone else using the app) to exchange buy/sell cash for digital cash. Anyone can be a teller. Tellers charge a fee. Teller & user rate each other. When 2 people send money each other via Abra, happens instantly, . No FX volatility.
Awaking the Sleeping Giant: The Natural Resource Industry and the Blockchain
Note: Hispresentation was in English, but I thought it was extremely considerate that he had his slides translated into Chinese as well. Every slide had simultaneous English & Chinese descriptions so that the attendees using the live translation headsets could follow along easier. If I ever present in another country again, I'll try and plan ahead like he did. Was very thoughtful.
Why is BHP interested in the Blockchain? They are the largest mining company in the world (natural resources mining, not Bitcoin mining. Hehe) They are a global distributed organisation. So a distributed Blockchain
Project Rai Stones. Sample tracking of geological samples. They are highly valuable resources. Some of the wells cost $100M, and you only get 1 chance to take the sample. They currently only track the samples manually through emails & spreadsheets. They are working with Consensys & Blockapps. Runs on Ethereum & IPFS, on top of Microsoft Azure. 1 node at BHP, 1 at their collaborator, 1 at their regulator. 3 roles in the business flow, BHP out in the field, the analysis team, and BHP corp. They create/register a smart contract on the network for each sample. When the person collects the sample, they go to the dashboard, click the checkboxes to say they acquired, that updates the smart contract. They ship it off, so they put in the details of which analysis office it is being sent to, updates state from collected to shipped. Analysis team can log in, see what samples are in transit to them to be analysed. They receive it, give it a unique Id based on their internal process. They get trusted tracking of samples, and real time updates.
What if they could automatically operate machines, they could help avoid bad combinations of machines operating at the same time. Like a crane operating on an oil rig, when a helicopter is coming in. Disable a piece of machinery if it is past its allowed usage before routine preventative maintenance. Disabled until it is tested, and certified as okay on the Blockchain. Stop unqualified people from using a tool or vehicle.
Ore gets mined and put onto shipping freighters. Need to track Provenance, custodians, entire supply chain.
Need to give regulatory data to the regulators in each country the operate in. All the mines in the industry need to submit this public data to gov, it all gets aggregated, and disseminated. But it costs HEAPS to do this. What if they built a consortium chain. They can all publish the public data, ready to be analysed instantly by peers. Could make the entire industry more effienct and transparent by making the consortium not just for the 1 country, but a public one. Give a global transparent view of the entire industry. Would help drop costs of compliance.
They started on Ethereum Mainnet & Testnet. Now they are seeing the emergence of many private chains. They will see the bridging between chains. Seen that Ethereum plans on sharding (many chains). Forsees that there will be a global mesh of these Public & Private chains all supporting each other.
Cotricity – “a prosumer to business”- virtual energy market on the Ethereum blockchain (Consensys)
https://co-tricity.com Energy meets Blockchain Joint venture between Consensys & an energy company in Germany. Energy sector is changing rapidly. Prosumer is someone with generative capacity (eg. Solar panels & battery storage). Normal smart meter collects usage about production & consumption. Tracked on Ethereum. Matches up Prosumers to local community things like Schools. The local environmental and economic benefits of keeping it in the local community.
Mechanism design, "reverse game theory". Goal is to effectiveise the energy market and reduce costs. Means creating incentives such that the optimal strategy for every participant results in the realisation of this goal. e.g. Help to smooth out the peak in the morning, give a small reward for not using energy in the morning
submitted by DavidBurela to ethereum [link] [comments]

CHINA BLOCKCHAIN DEVELOPMENT REPORT 2018

CHINA BLOCKCHAIN DEVELOPMENT REPORT 2018
01 China's blockchain industry is growing rapidly
Accelerated blockchain technological innovation
Technological innovation is the core driving force for the further development of the blockchain industry, and that process in China is undergoing a remarkable accelera- tion. Taking the number of public patents in the blockchain sector in China and the United States between 2014 and 2017 as an example: The number of public pat- ents have both shown an upward trend, with the number in the United States increased from 150 in 2014 to 390 in the first seven months of 2017, and that in China grew from 2 in 2014 to 428 in the same period this year, and China has out- paced the United States towards the increase.
Booming blockchain financing
In general, global private equity investment in blockchain sector showed an upward trend in 2014-2017. Due to the rise of ICO, the global private equity investment in blockchain sector declined in 2017 compared with that of 2016, but the growth rate is remarkable compared with three years ago. Private equity financing in this area increased from US$212 million in 2014 to US$394 million in 2016, a growth rate of 85.84 percent. In the meantime, the amount of private-sector financing in China’ s blockchain sector increased from US$16 million to US$ 76 million, an increase of 3.75 times. Although the scale of private equity financing in China is smaller than that of the United States, its growth rate is obviously higher.
Blockchain’s wide range of application
Thanks to continuous innovation in blockchain technology and China's huge Internet consumer base, blockchain applications in China are also characterized by a wide range of diverse activities. In the period from 2014 to July 2017, private sector equity investment in blockchain sector have gone to eight areas including mining, wallet, virtual currency, infrastructure, underlying technologies, exchanges, related services and blockchain applications, both in the industry chain’ s upper level like mining and virtual currency, and middle level of wallet and exchanges, as well as underlying technologies, industry infrastructure and related services like technological consult- ing and professional media services. Based on the above, the blockchain industrial chain in China is shaped. Looking at the investment amount distribution, the block- chain applications, mining, and exchanges accounted for a higher proportion, with the three sectors taking up to 79 percent of the total capital.
Rival blockchain institutions set up
Blockchain innovation and technological application cannot be independent from the construction and improvement of industry ecology. Since December 2015 to the end of 2017, China has set up nearly 20 blockchain-related industry associations including China Blockchain Application Research Center, GBBC China Center, Zhongguancun Blockchain Alliance, China Institute of Electronics Blockchain Special Committee, and CAICT Trusted Blockchain Alliance. They provided a platform for exchange and cooperation for professionals from diverse industries and back- ground, and have contributed to the long-term and healthy development of China's blockchain industry.
In terms of education and training, Chinese colleges have explored seting up cours- es and training programs to cultivate the talents for the innovative development of blockchain industry, such as the iCenter of Tsinghua University, Institute of Fintech at Tongji University, online blockchain education and research center at Beijing Univer- sity of Post and Telecommunication. In addition, Various blockchain trainings are also booming. Among them, the blockchain application training jointly provided by China Blockchain Application Research Center and GBBC has trained nearly certified 1,000 professionals so far.
02 China's blockchain industry faces challenges
Clear illegal digital currency exchange
The Chinese government has always held a cautious attitude toward Bitcoin. Back to December 2013, the People's Bank of China and five ministries issued the Notice on Prevention of Bitcoin Risk, which clearly defined the nature of Bitcoin and tried to prevent risks of excessive speculation, exchange evasion, money laundering, and suspected viola- tions of securities rules. Therefore, none of the Bitcoin exchanges in China has been approved by the provincial Minis- try of Finance.
On September 4, 2017, due to the ICO impact, the People's Bank of China and other seven ministries issued "Notice on preventing financing risks of issued tokens", and proposed suspension of every digital asset trading platform: "Tokens financing and trading platform shall not engage in statutory currency and tokens, virtual currency exchange, buy or sell tokens and virtual currencies, nor serve as a central counterparty. No pricing and agency services for tokens or virtual currencies shall be provided. "
Eliminate illegal ICO activities
Until the first half of 2017, the value of Chinese ICO market has reached 2.6 billion yuan. Meanwhile, however, the lack of government regulatory brought ICO activities with various qualities. There were no clear norms for issuers, proper management of investors and irrational behavior might cause market bubbles and fraud. Thus, People’ s Bank of China jointly with seven other minis- tries halted the ICO activities completely in September 2017.
However, regulatory halt of ICO is not a denial of the blockchain application in startups financing, nor a negative reflection of blockchain, digital currencies and other Fintech. In the short term, innovative corporate finance in the ICO sector may result in a slowdown. However, in the long run, this regulatory tightening will promptly prevent funds from flowing into illicit fund-raising projects and pyramid schemes frauds and alert ordinary investors to avoid prudent investment, as well as prevent market overheating which usually generate financial risks.
Government regulation emphasizes safety and stability
The State Council has set up a Financial Stability Development Committee to strength- en macro prudential management and prevent systematic risk. On the one hand, Chi- na's regulators are anticipating risks and try to dispose them in a timely manner, halting the centralized trading of bitcoin and ICO tokens, reducing the risk of digital asset mar- kets and safeguarding the stability and security of national finance. On the other hand, regulators also made it clear that some of the current regulatory measures are not denying digital currency, not to deny the related technology, but to manage the financial chaos that it has triggered and to prevent possible financial risks. It does not represent a ban on all Bitcoin transactions through halting Bitcoin bidding in China. Transactions between individuals are allowed, and the blockchain technology it relies on is still encouraged. At the same time, the industry has also called up not to overcorrect. For normal academic research and rational discussions, sufficient space should be given. Moreover, it should actively respond to the closure of exchanges which may lead a large number of transactions into over-the-counter transactions and underground transactions.
03 The prospect of China's blockchain industryis positive and optimistic
Entrepreneurs actively participate with millennials admission
The Internet has subverted the world, but the blockchain is going to subvert the Internet. It is said that blockchain has been on the cusp. For a new area like blockchain, millennials has the advanced cognitive ability than other age groups, which can be transformed into "cognitive bonus". Beijing-based Internet banking Museum (the Museum of FinTech) awarded block- chain technology and innovation companies each quarter, and more than 200 of them has a founder born after 1990. These young entrepreneurs and investors are deeply engaging in the global competition and are ready to embrace their era. In fact, Chinese entrepreneurs make up a large amount of the blockchain startup founders. They are also key sources of digital currency trading worldwide.
Wealth effect has aroused attention
In recent years, the market cap of cryptocurrency, represented by Bitcoin, is booming around the world. According to CoinMakretCap, the global digital asset market cap hit US$600 billion on December 17, 2017, which was only US17.7 billion back to the last day of 2016. In less than a year, the scale has expanded by nearly 3300% and the effect of wealth accumulation has drawn close attention from all parties. Blockchain and other digital currencies have become a mainstream concern and even a daily expression for the Chinese public. Private and institutional asset allocations are also shifting to this area, as well as traditional institutions and state-owned enterprises participate indirectly.
In the geek world, Blockchain used to mean " freedom " in the last few years. Today, the giants have announced plans to set foot in this space. Ping An China became the first domestic institution to join the R3 Blockchain Alliance. Currently, blockchain technology has been launched in both the asset trading and credit reporting phases; Wanxiang Group has set up Wanxiang Blockchain Laboratory ; China UnionPay Collaborated with IBM to pre-research " Interdepartmental Redemption System Using Block- chain Technology "; Baidu and Circle reached a strategic cooperation; Ali's Ant Financial will create a commonweal platform based on blockchain technology; Tencent joined the Trust Blockchain Alliance; China Food, COFCO and other traditional state-owned enterprises tried to promote China's food chain with Pacific Cloud; The Copyright Bureau and the Copyright Exchange Center jointly released the China Copyright Chain; Point Financial and Foxconn R&D share a Block Supply Chain Finance Platform. Many other listed companies and large financial institutions also launched the blockchain development plan. Compared with other startups, state-owned enterprises and industry giants have more funds, more stuff and more diverse application scenarios for blockchain technology.
Fund investment has become common
Focused on financial institutions in the Fintech, the blockchain technology continues attract attention. Capital market players have application scenarios and funds, but they are more cling to blockchain technology transformation, a real reduction of credibility costs and trans- action costs. In the first quarter of last year, the global blockchain startups obtained a total VC investment of US$1.57 billion, while in the past three years (2014-2016), the global blockchain startups received a total investment of nearly US$15 billion. According to a recently released report by data company CB Insights, Google and Goldman Sachs are the two most active institutional investors in the current global investment in blockchain. Domes- tic Tsinghua inspiration, Wanxiang Group, Fosun Group and many other investment agencies have already launched their blockchain venture capital funds.
Early leading firms adhere to the bottom line, abide by the law
On August 16, 2017, China Blockchain Application Research Center held ICO symposiums and convened more than 10 heads of blockchain institutions in Beijing. They clearly expressed their opinions on regulatory intervention and market risk control. Huo Xuewen, party secretary of the Beijing Financial Bureau, delivered an important speech demanding that the governing bodies affiliated with the center and the relevant institutions in Beijing not to participate in the issuance and trading of any ICO and strictly practice self-discipline and compliance under relevant laws. The conference was widely recognized and disseminated by the industry.
On September 4, 2017, the People's Bank of China and other seven ministries issued "Notice on preventing financing risks of issued tokens". All board members of China Blockchain Applica- tion Research Center made their speeches to endorse the relevant decisions of regulatory authorities and issued self-declaration, and all board members conducted a joint affair. During the process of government clearance, they were highly coordinated and no major risk events occurred, highlighting their responsibilities as earily industry members.
The special provincial coastal areas are highly encouraged to develop blockchain
The State Council issued "13th Five-Year Plan" for National Information Strategy. Blockchain, together with big data, artificial intelligence, machine learning and other new deep learning technology, has become national focus. Also, the People's Bank of China released the "13th Five-Year Plan" for China's Fintech, which clearly aimed to promote blockchain and AI. In the last October, the Ministry of Industry and Information Technology issued "China Blockchain Tech- nology and Application Development White Paper", which is the first official guideline for block- chain landing. The ongoing national digital currency pilot by the central bank also means that blockchain is one of the technologies it has implemented.
Local governments, especially the coastal areas, have set up blockchain experimental and research institutes. At present, the governments of Shenzhen, Hangzhou, Guangzhou, Gui- yang and Ganzhou are all actively setting up blockchain development zones which are given special support policies. These cities, with a population of more than 5 million each, vigorously promote the blockchain innovation and will create market heights to open up China's future.
Conclusion
At the moment, the world is focusing its attention on the Davos Blockchain Forum. We look forward to taking this opportunity to gather the power of all countries in the world to explore and create global blockchain development standards and policies, making a sound regulatory environment and establishing joint-venture cooperation to build con- sensus and rules. It is expected to actively guide China and other countries to establish a positive and effective regulatory environment for blockchain policies, speed up block- chain application in a broader context, and invite all sectors to keep their eye on and participate in the Chinese market.
In April 2018, we will hold a conference in Beijing for blockchain innovation companies worldwide, and we will invite leaders of the world's top blockchain companies to pro- mote and communicate with Chinese entrepreneurs to discuss blockchain applications on a global scale. China Blockchain Application Research Center would like to give you a formal invitation to the meeting. We would provide you with the best routes to enter the Chinese market and find the best partners for you. We also welcome industry supervisors from all over the world to come to Beijing at the same time to hold dialogues with Chinese industry regulators and discuss the framework rules to form a global regulatory framework so as to make efforts for establishing a safe, transparent and convenient blockchain startup environment.
submitted by michaeluebelhart to u/michaeluebelhart [link] [comments]

INK - IP on the Blockchain

Whitepaper

Overview

The vision of Ink is to provide Sovereign Consortium Blockchains to different use cases, to build a blockchain based infrastructure for the Creative Industry where various applications were possible and correlate to each other in one system. Based on public blockchain (Qtum), an Intellectual Property Assets Exchange is built as a trusted corridor for cash generation and token issuance, making it an integrated ecosystem. At the same time, the cross-chain protocol enables value and information to flow freely between public blockchain and consortium blockchains.
If you aren't familiar with Qtum, they took Bitcoin UTXO and put it together with the EVM (Ethereum virtual machine) - they are launching QRC-20 tokens on their chain similar to ERC-20 tokens. INK is a QRC-20 token.
The problems in the creative industry today:
Ink’s solution:

Roadmap

April 2016 - Ziggurat tech, member of Ink council, received seed-round investment October 2016 - Ziggurat copyright assets management platform http://ziggurat.cn of blockchain was launched Dec 2016 - Original works registered on Ziggurat.cn passed 6000. More than 10 partnerships formed. March 2017 - Founding team of Ink established along with core mission and roadmap April 2017 - Ink receives million-dollar angel investment, new phase begins May 2017 - Founding team of Ink invited to Big Data Expo. Signed strategic partnership with Guiyang Government in China July 2017 - Ink gains multimillion dollar pre-a round financing Sept 2017 - Ink Soverign Consortium blockchain enters testing phase Oct 2017 - Whitepaper released Nov 2017 - Ink token sale (sold out) Dec 2017 - Ink to launch open platform for DAPP Development Jan 2018 - Crosschain protocol to be proven successful between Ink and Qtum blockchain Feb 2018 - Ink to launch first batch of international IP tokens March 2018 - Beta launch of IP Asset Exchange

Team

Tang Ling
Early adopter of blockchain and expert of intellectual property. Tang Ling dedicates himself to the practical application of blockchain in the Creative Industry since 2010. He has extensive resource in global creative industries.
Ismail Malik
Ismail is a renowned figure in blockchain and digital currency in Europe. He has rich experience in commercial application of blockchain, and has been directly involved in the management of multiple blockchain projects.
Walter Komare
Walter is the CEO, President and Managing Partner of Forbesfone (the biggest telecom company in Malta). He is also the CEO of Angel Investment. Walter is a well-versed figure in the European telecom market.
Tsukikawa Yuu
Yuu is an active promoter of blockchain development in Japan. As an early investor of Bitcoin, he maintains long-term cooperation with the largest cryptocurrency trading platform ZAIF in Japan.

Core Developers

Chen Chang
He received master’s degree from Tsinghua University. He was a senior researcher at IBM, and has been one of the earliest researchers and promoters of the blockchain technology. Chang is an expert in cloud computing, blockchain, machine learning, etc. He is the core developer of the Hyperledger open source project, and has rich experience in the underlying development and applications of blockchain. He was in charge of the architecture design and implementation of the enterprise blockchain solution. He led and developed several blockchain service platforms. Chang is also the co-author of “the Principle, Design and Application of Blockchain”.
Dr Wang Hao Hao is the founder of WuGeYunTong Technology. He won the championship of International Blockchain Development Competition. Hao received bachelor’s degrees from the Department of Automation and Mathematics in Tsinghua University and doctorate in Computer Vision and Control. He led WuGeYunTong and developed visual inspection and recognition technology, for which he received five patents on visual recognition algorithm invention and seven copyrights on visual recognition software. He also has rich experience in developing technical architecture, DevOps and mobile apps.
Dr Gao Zhenfeng Zhenfeng received PhD from the Department of Automation in Tsinghua University. He co-authored the project “Regional Medical Treatment Consortium Blockchain”, which received top prize in “48-hour Blockchain Hackathon” of Wanda Tech & IBM in Mar 2017. His research mainly covers service computing and service recommendation. He published three academic papers on service computing and service recommendation in top international journals.
Dr. Frank Wang Frank is the founder and CEO of Stentor Technology, director of Ink Silicon Valley lab, joint-initiator of blockchain VC Forum and Operation VP of Silicon Valley Wireless Technology Association. He received master’s degree from Nanyang Technological University. Frank focuses on distributed computation and big data technology, and previously worked as a technical engineer for Trusted Computing. As the Chief Data Engineer, his team received the world-leading CES “Innovation and Engineering Award”. Frank is part of the team in the early development stage of Google Transit, a large-scale project. He also designed and developed large financial database for JPMorgan.

Investors and Supporters

Andrew Yan
founder and managing partner of SAIF Partners
Bo Shen
Shenbo is the Partner of Fenbushi Capital and founder of Bitshares.
Patrick Dai
Patrick is the founder of Qtum. He was educated in Draper University and Chinese Academy of Science.
Charles Xue
Charles is the founder of UTStarcom. He is also a well-known angel investor.
Gloria Ai
Gloria is a renowned anchor-woman for finance. She is the Venture Partner of SAIF Partners.
Dr Han Feng
Feng is a tutor at i-Center of Tsinghua University. Feng is the Chief Editor of Wanxiang Blockchain Lab series and Secretary-General of Distributed Autonomous Coalition Association (DACA)
Dr Zhiguo Ma
Zhiguo is the Vice Dean of Law School in Xi’an Jiaotong University. He is a well-respected lawyer, arbitrator and IP judicial authenticator
XinXing Duan
Co-founder of Bytom and Executive CEO of 8btc.

News and more

“We will launch our wallet next week” - Francis Tang, CEO
Medium
Interview with CEO Tang Ling (need to translate)
Ink Joins ACCESS
ACCESS is one of the largest association in Singapore in the space of blockchain and cryptocurrency. The organization is a strong believer in the transformative potential of bitcoin along with other cryptocurrencies and the underlying technology, blockchain. It envisions Singapore as a premier global hub for businesses driven by digital currencies and blockchain technologies.
Ink Receives Strategic Investment from AWARE Capital to Build Global Creative Ecosystem Together
AWARE Capital is a VC Fund that focuses on incubating and investing in local blockchain startups in China. It was founded by senior internet investor Mr. Jianbo Sun and is a new digital asset investment fund in China. AWARE Capital uphold the mission of providing full-fledge support to the value of internet and innovative startups in China. It dedicates itself to bringing the entrepreneurs into the blockchian circle and subsequently stride into the global cryptocurrency capital market.
Ink Infographic - Everything you need to know about Ink
Jeff Garlic tweets about INK token
Ink Receives Strategic Investment from Hcash to Build Blockchain Ecosystem Together

Where do I buy?

It will be trading on https://www.exx.com/ tomorrow and http://gate.io at 8pm EST on Wednesday. They said more exchanges are to come, the tokensale ended a few days ago.
https://medium.com/@inklabsfoundation/ink-will-land-shockingly-on-exx-exchange-5c0f362a78f4
https://twitter.com/gate_io/status/932212467911999488
Overall I haven’t seen any western social media buzz about this project and think it deserves some love due to the strong team, developers, and advisors on this project along with a working product around the corner.
submitted by zigzagzig to inklabs [link] [comments]

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