Lead to the future value: The era of Blockchain with New Internet

The Co-founder Yu Xuemai of Baoquan was invited by Hangzhou Normal University to share the topic about the future value with blockchain in December 27. He described the development of information Internet era with blockchain and the blockchain application in vary fields in future.

Yu started with the information age of the Internet, from the network concept “distributed system” to the first Internet information sending from Charley Kline, and then to the first established server by Tim Berners-Lee, and finally to the centralized information Internet. He also indicated that every step of the Internet development is based on the information exchange and transmission, setting up a huge network for information exchange and transmission by different servers. However, the Internet rely on the central network and build up the information Internet through the client servers. Once facing the problem of attack, it will easily break down the whole network. Moreover, the more problems of the centralized Internet continue to be appeared.

However, the internal crumbed centralized financial system makes the realization of the centralized problem rather than the endless attacks to the central server. On the other way, the digital currency has appeared by the decentralized blockchain technology.

The first digital currency called bitcoin was born in January, 2009. Unlike most currencies, bitcoin does not depend on the specific issue of monetary institution, it has the characteristics of openness, transparency, verified, immutability and traceability with the distributed and decentralized storage. It caused the commercial speculation due to the superior performance of bitcoin , large amount of mining companies have emerged from then on.

Digital currency except for the simple investment, speculation and product exchange, it also can be used as the payment medium, thus simplifying the cross-border payment process. Yibite Co., Ltd. created the new record of the global crowdfunding by using bitcoin, raised $10 million in 24 hours.

The payment circulating of digital currency on the Internet need the trust, and the blockchai has such trust itself. The blockchain transfers the centralized information Internet for information transmission to the value transfer network for crossing space and time. In doing so, blockchain has become the underlying protocol supporting for the trust and valuable Internet. The genius boy Vitalik Buterin create the blockchain developer platform called Ethereum, which building the intelligent application in a new form .

From the beginning of 2015, the value of blockchain has been digged and the whole blockchain industry began to flourish. According to the public overseas statistics, the global venture capital invest funds to the blockchain start-ups for $360 million in 2014, $480 million in 2015 and $160 million in 2016(not including the large amount of Chinese start-ups). Meanwhile, the domestic medium statistics indicated that more than $350 million has been invested in the top 9 blockchain teams in China.

Blockchain as the value Internet protocol can create the rich future scenes. The blockchain distributed structure changed with each transaction by updating the whole network nodes. Therefore, the transaction, accounting and liquidation will be integrated to increase the efficiency of financial transaction with low cost.

Blockchain can be used in such ways like the decentralized accounting and liquidation, the virtual digital assets transactions, the decentralized signature , the contract signing and the definition of the AI social rules. The digital and trust world can be created accordingly.

In 2015, Baoquan was founded by Zhejiang Shuqin Technology, which is the enterprise service platform based on the blockchain technology. By using the blockchain technologies include the distributed books, asymmetric encryption, timestamp and consensus mechanism to create the trust channel between the digital virtual world and the real physical world. At the same time, it constructs the original rules of the trust and valuable network through the judicial channel.

Finally, Yu indicated that the development of blockchain is the general trend. Whether on the information Internet or on the blockchain era, history is created by the young ones. And Baoquan is the learning and sharing platform for students who is interested in blockchain. We are also willing to provide assistance for the whole blockchain industry.