CEO Gao Hang of NumChain: Selected as the Member of “Blockchain 50”of Sina

Recently, the co-founder and CEO Gao Hang of NumChain was invited by Sina, selected as the member of “Blockchian 50” in the talent pool.

“Blockchain 50”is sponsored by Sina Tech, which invites entrepreneurs, experts, scholars and other professionals in blockchain related fields. It has gathered two sides of experts from blockchain and economics, focusing on the development of Blockchain.

So far, “Blockchain 50”has attracted the well-known people in the industry, such as the CEO Chen Lei of Thunderbolt Group, the vice president Jiang Guofei of Ant Financial Service Group, the chairman Liu Wei of 360 Financial and so on.

About Gao Hang

The founder and CEO of Baoquan.com, has been working as the CTO of Yibite and the CEO of Zjmax.com. Specialist in Finance and Taxation Informationlize, as the director of China Blockchain Applied Research Centre, an expert of the National Internet Financial security technology Committee. The co-author of “Blockchain and the new economy: the era of Cryptocurrency 2.0”, ”Digital Currency: Data Report in Bitcoin and Operating Instructions”, ”Agility and Innovation”.

Time, the most delicate witness. The efforts and contributions of Gao Hang is recognized by the industry. At present, he has become the executive director of China Blockchain Applied Research Centre, the head of Zhejiang Branch Centre. In addition, he is a sponsor of Hangzhou Blockchain Technology and Application Association. This is not only for a regional economic transformation, but also a digital financial innovation. Or to maintain the fair competition order of blockchain technology and application, which is a undoubtedly new initiative.

About NumChain

NumChain was founded on 2016, is a blockchain based R&D and application service provider. Core team started the research of cryptocurrency and non-currency blockchain applications since 2013, and have made certain effort on the aspects such as blockchian infrastructure, consensus algorithms, digital assets exchange, trustworthy electronic certificate, etc. Based on the practical experiences and team experts, Shuqin tech has discovered a new way for blockchain technology to be applied on real user cases.

NumChain creates the multiple-layer storage system, building the medium scale distributed Blockchian network on Bitcoin Blockchain— data storage-oriented & verify-oriented, then to satisfy the demand of various types of data for Blockchain-based recordkeeping, and anchoring to Bitcoin Chain, Factom, Ethereum  to gain support from the tens of thousands nodes around the world.

NumChain has launched a Blockchain as a Service (Baas) platform —Baoquan Cloud. Supporting by Ali Financial Cloud infrastructure with high security guarantee and processing capability, Baoquan Cloud provide comprehensive SDK and API modular, users can build their own Blockchain nodes of Baoquan.com on Ali Financial Cloud to record on-chain data in a more secure and convenient way. Combined with various types of SDK, the system would have high compatibility, as well as the issue function for judicial expertise certificate. Shuqin Tech owning the independent intellectual property right of BaaS system.

Based on the team experience of Guiyang Big Data Exchange Centre, Shuqin Tech combines the technical roadmap of the Blockchain trustworthy electronic certificate to provide the trusted external big data source service— DataIPO.com. It aims to provide the legal, authentic, valid and multi-dimension data source for big data analysis, further to realize the data interaction for participantes as the peer node on Blockchain. Besides the data exchange, Shuqin Tech as one node of DataIPO.com also provides the data processing service by managing multi-modules in the sub system.

Together with judicial expertise centre, NumChain provides the attestation certificate for each trading data, as well as the judicial expertise certificate, which has the force of law. Furthermore, Baoquan.com is  committed to forming the closed loop for the trustworthy electronic certificate, cooperating with Dentons law offices, Zhejiang E-commerce online court, Hangzhou arbitration commission and so on. Meanwhile, as the strategic cooperation unit for Baoquan.com, Dentons provides the full legal service for the trustworthy electronic certificate.

So far, NumChain has provided solutions for China insurance, China security, Guangzhou information centre, traffic centre, Bank of Hangzhou and other cooperation units.

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8BTC Visit NumChain: Young Talent all in Blockchain Storm !

Recently, ‘Hangzhou’ can be said to be stayed completely out of limelight in the major cities. As a city that has been dormant in the chain circle for a long time, Hangzhou has drawn public attention once again, and that is the question of connotation—— in the ‘Global Blockchain Patent list (Top 100) in 2017’, China has 49 enterprises, ranking first, and among them, Hangzhou occupied five seats on the list.

As a well-known local Blockchain media in Hangzhou, 8BTC has high popularity in the chain field. Today, NumChain welcomed 8BTC’s team, the co-founder Yu Xuemai and other partners were being interviewed.

“I’glad I’ve been living in Hangzhou.”Yu told 8BTC, “it’s not just a beautiful and warm hometown, it’s more about career empowerment.”

Indeed, Hangzhou showed the leading information Internet technology to us, the endless iteration of unrequited innovation technology, the long history of inclusive financial entrepreneurship, and the fact that it is.

Yu Xuemai

Graduated from University of Liverpool with First class degree in BSc E-Finance, and also holding MSc in Financial Risk Management with Distinction from ICMA Centre, University of Reading. Have been working in stated-owned banks, foreign banks, private financial corporate as well as PE sector. Translated “Agile Innovation” and is the co-author of “Blockchain and the new economy: the era of Cryptocurrency 2.0”

 As the co-founder of NumChain Tech, Yu is optimistic about the future development of Blockchain. He hopes that he can deeply analysis the underlying technology of Blockchain through hard work and practice, and then building an ecosystem of the ‘blockchain+’ to create the real value of society.

However, there is still a lot of controversy about the prospect of Blockchain, and core technology of Blockchain such as consensus algorithm should be perfected and improved. On other hand, the processing efficiency of Blockchain is still difficult to meet the requirements of some high-frequency application environments in reality.

Besides the application, for data circulation, Blockchain would play a great role in it. As is known to all, big data is the energy source, but is has become a resource that other enterprise can sell and then become the precious wealth of large companies. So how does Blockchain make personal data into personal asset?

Securing liquid data assets is what NumChain Tech is trying to do, and is already doing.

 After years of immersion in the chain circle, NumChain Tech has formed the approach of blockchain + forensic + notary + arbitration. Within those user cases, the blockchain is naturally a fantastic combination with big data, because blockchain can provide a clear path for transforming data from row material into a data asset and even further to the data capital. Therefore, the Trustworthy Electronic Certificate service + Blockchain as a Service platform + big data become the main engine of NumChain’s development.

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Senior Personage: Blockchain Cloud Computing—— From Mining Equipments to Cloud Sharing

In the future, each equipment can realize self-management. For the next 10 years, the number of devices for Internet of things will be increased dramatically, so it is unrealistic to manage these Internet devices in a centralized way.

Co-author: Gao Hang

The founder and CEO of Baoquan.com, has been working as the CTO of Yibite and the CEO of Zjmax.com. Specialist in Finance and Taxation Informationlize, as the director of China Blockchain Applied Research Centre, an expert of the National Internet Financial security technology Committee. The co-author of “Blockchain and the new economy: the era of Cryptocurrency 2.0”, ”Digital Currency: Data Report in Bitcoin and Operating Instructions”, ”Agility and Innovation”

Co-author: Wang Maolu

Received the doctor degree of Beihang University in Electronic Engineering. Have been working for CSRC, CAPCO and Citic Trust Co.Ltd. She earned the second/third prize of technology progress in Secutities and Futures Industry. She has drafted the financial industry standard and a national standard. and focused on the research for ANN, machine learning, distributed computing and big data. The co-author of “Blockchain and the new economy: the era of Cryptocurrency 2.0”

We think, Blockchain technology can realize such problem.

Blockchain technology, it can reach to the decentralized distributed cloud network for Internet of things, and each device can be connected to solve the problem of trust. Similarly, the company of chips have begun to start with pattern recognition, and do the research for the neural network algorithm to support for the artificial intelligence technology. For the construction of Blockchain consensus mechanism, which means an automatic organization structure based on algorithm.

Therefore, applying similar algorithmic logic to the interaction of artificial intelligence is the ‘social rules’ of artificial intelligence. And then it is possible to have a chip to access the blockchain network for the all smart devices. Once the blockchain network is implemented, the interaction between human beings and machines, machines and machine intelligence can have a common language. For the social rules, it can be programmed; For the social sources, it can be connected. On this basis, self-help e-government, smart home, smart city, car networking, medical and other industries will have a disruptive new business model.

We can see that in the course of biological evolution, many of the lower living things have shown amazing collective intelligence in a decentralized system. So as our IT technology today, the centralized technology has achieved amazing results, but in the field of decentralization, it has just begun. In the process of development, computing power is productivity, data is the means of production, and Bloclchain is a form of the organizational force, all the three elements have formed the new social relationship. Under the new productive forces, artificial intelligence, the Internet of things, new energy, biological genes and many other fields will usher in a high-speed inflection point.

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What is virtual commodities in Hong Kong?

Bitcoin and cryptocurrencies defined as ‘virtual commodities’ in Hong Kong which in themselves are unregulated. Cryptocurrency exchange activity in Hong Kong is unregulated. However certain exchanges voluntarily register as Money Service Operators (MSO) for foreign exchange activities or remittance services using fiat money. Such companies are required to provide notices to the public to emphasize that they are not subject to regulation for their bitcoin trading activities.

Customs & Excise and HKMA have warned financial institutions handling bitcoin and cryptocurrency to be mindful of money laundering risks.

The Securities and Futures Commission (SFC) of HK has commented on Initial Coin Offerings (ICOs) taking place from HK. The SFC stated that “a virtual commodity is not of itself a security”. The SFC did provide further clarity over what types of ICOs may fall within the definition of a security offering. The characteristics were that of dividends, participation in the distribution of the assets upon winding up, debt instruments requiring repayment with interest, collective investments where funds are collected to be re-invested and shared with the investors.

Anyone seeking to establish themselves in HK to conduct virtual commodity trading should consider making contact with the Customs & Excise Department to inform them of the activities undertaken. The business model once scrutinised may not be subject to licensing. Regarding ICO activity all issuers should consider whether the digital token would be defined as a security based on the guidance provided by the SFC. Legal counsel and engagement with regulators is imperative to have a sure footing for your business. Lastly, the HKMA does not regulate virtual commodities under the Payment Systems and Stored Value Facilities Ordinance however may decide to define virtual commodities as a medium of exchange which would result in the requirement for Stored Value Licensing for virtual commodities exchange activity.

Source: http://bitlegal.io/2017/11/16/hk-virtual-commodities/

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Where is Bitcoin legal?

The peer-to-peer digital currency Bitcoin made its debut in 2009 and with it ushered in a new era of cryptocurrency. Today, there are more than 500 different cryptocurrencies to choose from, but Bitcoin still enjoys the first mover advantage. While tax authorities, enforcement agencies, and regulators are still exploring the phenomenon, one pertinent question is—is bitcoin legal or illegal? The answer is, it depends on the location and activity of the user.

Countries that Say Yes to Bitcoin

The fact that bitcoin can be anonymously used to conduct transactions between any account holders, anywhere and anytime across the globe, makes it attractive to criminal elements. They may use bitcoins to buy or sell illegal goods like drugs or weapons. Most countries have not clearly made determinations on the legality of bitcoin, preferring instead to take a wait-and-see approach. Some countries have indirectly assented to the legal usage of bitcoins by enacting some regulatory oversight. However, bitcoin is never legally acceptable as a substitute for a country’s legal tender.

The United States

The United States has taken a generally positive approach towards bitcoin. At the same time, it has several government agencies working on preventing or reducing the use of bitcoin for illegal transactions. Prominent businesses like Dish Network (DISH), Dell, and Overstock.com(OSTK)  welcome payment in bitcoin. The digital currency has also made its way to the U.S. derivatives markets, which speaks about its increasingly legitimate presence.

The U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) has been issuing guidance on bitcoin since the beginning of 2013. The Treasury has defined bitcoin not as currency, but as a money services business (MSB). This places it under the Bank Secrecy Act which requires exchanges and payment processors to adhere to certain responsibilities like reporting, registration, and record keeping. In addition, bitcoin is categorized as property for taxation purposes by the Internal Revenue Service (IRS). (Related Bitcoin: Current And Future Legal Framework)

Canada

Like its southern neighbor the United States, Canada maintains a generally bitcoin-friendly stance while also ensuring the cryptocurrency is not used for money laundering. Bitcoin is viewed as a commodity by the Canada Revenue Agency (CRA). This means that bitcoin transactions are viewed as barter transactions, and the income generated is considered as business income. The taxation also depends whether the individual has a buying-selling business or is only concerned with investing.

Canada considers bitcoin exchanges to be money service businesses. This brings them under the purview of the anti-money laundering (AML) laws. Bitcoin exchanges need to register with Financial Transactions and Reports Analysis Centre (FINTRAC), report any suspicious transactions, abide by the compliance plans, and even keep certain records. In addition, the Canadian government has tasked the Senate Banking Committee with drafting guidelines for the legislature of virtual currencies by July of 2015.

Australia

Australia allows entities to trade, mine, or buy bitcoin. The Australian Taxation Office (ATO) considers bitcoin transactions barter arrangement subject to appropriate taxes depending upon the use and user (full document).

The European Union

Though the European Union (EU) has followed developments in cryptocurrency, it has not issued any official decision on legality, acceptance, or regulation. In the absence of central guidance, individual EU countries have developed their own bitcoin stances. A few nations are allowing bitcoin while others are either undecided or issuing warnings.

In Finland, the Central Board of Taxes (CBT) has given bitcoin a value-added tax exempt status by classifying it as a financial service. Bitcoin is treated as a commodity in Finland and not as a currency. The Federal Public Service Finance of Belgium has also made bitcoin exempt from value added tax (VAT). In Cyprus, bitcoins are not controlled or regulated but are not illegal either. The Financial Conduct Authority (FCA) in the United Kingdom (UK) has a pro-bitcoin stance and wants the regulatory environment to be supportive of the digital currency. Bitcoin is under certain tax regulations in UK. The National Revenue Agency (NRA) of Bulgaria has also brought bitcoin under its existing taw laws. Germany is open to bitcoin; it is considered legal but taxed differently depending upon whether the authorities are dealing with exchanges, miners, enterprises, or users. 

Countries That Say No to Bitcoin

While bitcoin is fairly welcomed in many parts of the world, there are few countries which are wary of bitcoin because of its volatility, decentralized nature, perceived threat to the current monetary system, and link to illicit activities like drug dealing and money laundering. Some of these nations have outright banned the digital currency while others have tried to cut off any support from the banking and financial system essential for its trading and usage. 

Iceland 

The island nation has been exercising stringent capital controls as a part of its monetary policies adopted after the global economic crisis of 2008. It seeks to protect the outflow of Icelandic currency from the country. Under the same pretext, foreign exchange trading with bitcoin is banned in Iceland as the cryptocurrency is not compatible with the country’s Foreign Exchange Act. Interestingly, a new cryptocurrency called Auroracoin has lauched out of Iceland. Its founders wished to create a viable alternative to the present Icelandic banking system.

Vietnam

From the beginning, Vietnam’s government and its state bank have maintained that bitcoin is a not a legitimate payment method. After a few initial rounds of public rejoinders against the use of bitcoin, Vietnam made it illegal for both financial institutions and citizens to deal in bitcoin. It links the cryptocurrency to criminal activities such as money laundering.

Bolivia

El Banco Central de Bolivia has banned the use of bitcoin and other cryptocurrencies. 

Kyrgyzstan

Using bitcoin and altcoin as a payment form is illegal in Kyrgyzstan.

Ecuador

Bitcoin and other cryptocurrencies were banned in Ecuador by a majority vote in the national assembly. However, the nation has plans to create its own cryptocurrency in the future.

Russia

The legality of bitcoin in Russia is disputed. Russia’s Ministry of Finance is hoping to pass a law to ban bitcoin sometime this year.

China

All banks and other financial institutions like payment processors are prohibited from transacting or dealing in bitcoin. Individuals, however, are free to deal in bitcoin between themselves. Bitcoin culture is thriving in China. It continues to be one of the worlds larges bitcoin markets. (Related reading How Bitcoin Can Change The World)

The Bottom Line

Although Bitcoin is now five years into existence, countries still do not have explicit systems that restrict, regulate, or ban the cryptocurrency. The decentralized and anonymous nature of bitcoin has challenged many governments on how to allow legal use while preventing criminal transactions. Most countries are still analyzing ways to properly regulate the the cryptocurrency. Overall, bitcoin remains in a grey area as the technological leap has left lawmakers far behind.

Source：https://www.investopedia.com/articles/forex/041515/countries-where-bitcoin-legal-illegal.asp

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Shuqin Tech Participate In Hyperledger Community Meetup

As an early member of Blockchain project ‘Hyperledger’, Shuqin Tech has always devoted itself to the developing and application of blockchain technology.

Today, with the assistance of Zhejiang Blockchain Application Institute, the global architect Tracy Kuhrt of Hyperledger, regional president Julian Gordon of Asia Pacific had a advanced discussion with the technical backbone from Shuqin Tech.

During the meeting, Shuqin Tech raised some problems under the framework of Fabric1.0, including SDK, consensus algorithms and so on. At the same time, we also offered a proposal about the technical interactivity. And Tracy Kuhrt indicated that the interaction between the open source communities is increasing now, and also opend up Lab channel on Github to support for more independent blockchain projects.

In addition, Julian Gordon also suggested that more professional and technical offline meetings will be held in China. And then to form direct communication channel to solve the practical problems between projects and the core developers.

Shuqin Tech won the approval from Hyperledger on the Fabric project. Hyperledger also encouraged the developers to share the technical achievements in the opened community, further promoting the maturity and iteration of the Fabric system.

At the meeting, Tracy also announced the upcoming launch of Hyperledger Sawtooth 1.0, and its unique consensus mechanism PoET will become a chip-based Blockchain solution for the Internet of things.

Zhejiang Shuqin Technology Co., Ltd was founded on 2016, is a blockchain based R&D and application service provider. Core team started the research of cryptocurrency and non-currency blockchain applications since 2013, and have made certain effort on the aspects such as blockchain infrastructure, consensus algorithms, digital assets exchange, trustworthy electronic certificate, etc. Based on the practical experiences and team experts, Shuqin tech has discovered a new way for blockchain technology to be applied on real user cases. Shuqin tech has developed an open middle tier, by fusion up the technical advances for blockchain and overcome the capacity issue of public blockchain we provided a “Blockchain+” technical solutions, and established a trustworthy electronic certificate service platform – Baoquan.com.

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For enterprises, the following table are showing the main services.

 

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WHAT WE ARE SEEKING FOR:
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• Work on the most interesting and challenging problems in the Blockchain space.
• Be a part of a Blockchain team committed to the advancing technology
• Build reusable, modular code liaries for use across Blockchains product line.
• Work on an industry-leading product with big data.

WHAT YOU WILL NEED:

• The foremost quality for this or any position at Blockchain is integrity.
• Experience working with Java, golang and relational databases.
• Thrive on learning new technologies and dont believe in one-size-fits-all solutions.
• Understand how all the pieces fit together (front-end, database, network layer, etc.) and how they impact the performance of your application.
• Familiar with IBM Hyerledger, Ethereum, siacoin or bitcoin.
• Strong attention to detail.

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Year Under Review: Trust Chain The World, Computing Driven The Future

Many memories left behind, and there are variety of Blockchain applications have been launched in different fields, and are well known to the public. As the initial application of Blockchain, digital currency has exploded this year. And the price of Bitcoin have gone up and down like roller coasters.

In May, WannaCry was widely spread around the world, and hackers blackmailed Bitcoin that its name became a household world. Move back, the global ICO project raised more than $3 billion, and the low threshold of financing has made the circle mixed. This year, China halted ICO and the exchange markets, also introduced a number of policies to guide blockchain technology towards practical applications and production. A blockchain encryption game “Cat” gas become popular around the world, as well as the new business models such as IMO and IFO. In a word, more and more institutions and individuals involved in Blockchain related areas.

 In addition to digital currency, our life gradually with the blockchain technology developing, which has penetrated into various sectors such as finance, supply chain, government, charity and so on. In the virtual world, we only focus on building an ideal trusted Internet, and then laying the foundation of the road to realize self-worth.

As the keystone of Shuqin Tech, as well as the entrance of a trusted Internet that connect to Blockchain, Baoquan.com provides free data recordkeeping service all over the world. So far, Baoquan.com has been connected to nearly 100 merchants, and more than one million data on the chain, as well as more than 600,000 users. For the functions, Baoquan.com cooperates with CFCA for the Blockchain online e-sign service, mainwhile, also connects to the trusted big data resources interface in a more compliant and secure way.

During 2017, Shuqin Tech had a great year. VeraXchain has been launched and applied in various applications. For the regulatory technology, Shuqin Tech finished the platform construction in insurance industry, as well as in food and drug regulation field. For the government, we also provide the trusted data platform for tax and loan, as well as the big data service for the traffic centre. For the finance, we also provide the online financial service for electronic certificate. For the copyright protection, we cooperates with Huamei and Zhongxin for the digital copyright service. Besides, there are about 27 nodes cluster of alliance chain outside, and the mechanism and performance iteration of VeraXchain are gradually completed in application.

Based on our understanding of the development of distributed value Internet, could computing will  become a necessary condition for the development of Blockchain. For the past 3 months, Shuqin Tech started the product of Suanli.com, mainly for computing power business, and further combining computing with Blockchain, big data and artificial intelligence. In just 3 months, Suanli.com has been running on 129,000kW, and this scale is going to be expanded twice.

2018, for the higher block and dream, continue to chain the trust, and we will go on a long voyage!

Zhejiang Shuqin Technology Co., Ltd was founded on 2016, is a blockchain based R&D and application service provider. Core team started the research of cryptocurrency and non-currency blockchain applications since 2013, and have made certain effort on the aspects such as blockchain infrastructure, consensus algorithms, digital assets exchange, trustworthy electronic certificate, etc. Based on the practical experiences and team experts, Shuqin tech has discovered a new way for blockchain technology to be applied on real user cases. Shuqin tech has developed an open middle tier, by fusion up the technical advances for blockchain and overcome the capacity issue of public blockchain we provided a “Blockchain+” technical solutions, and established a trustworthy electronic certificate service platform – Baoquan.com.

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