BQchain Blog

2017年7月11日星期二

PBoC Advisor: Strengthen the moderate regulation for ICO

In the past year, the number of Blockchain projects are increased in a rapid speed which are based on Ethereum contract, and issuing their own unique tokens in a distributed and transparent way. These tokens that issued by Blockchain projects are compatible with Ethereum tokens so that their value can be guaranteed by the matured underlying technology.

Why ICO become so popular?

No Intermediary

For the early traditional investment firm, there is impossible to exist in such case without the active users and a stable source of income. However, ICO allows independent investors to participate in the early financing of project. Anyone ca n provide unique token by Ethereum to participate in the ICO project. Anyway, this distributed model can make great interest for investors, further to a larger market.

At the same time, it also causes concern from the investors.

Although most ICO projects have raised a large amount of money, valued over hundreds of millions of dollars, the problems about the lacking of a clear vision, user base and income source, or even a usable product still exist nowadays.

Let’s take Gnosis as an example.

Gnosis

Based on Ethereum — The next generation blockchain network.
Speculate on anything with an easy-to-use prediction market. It has the following superiorities.

l Awesome team: Leading by the market forecasting experts called Martin Koppelmann and Stefan George, as well as the consult team, including Vitalik Buterin of Ethereum and Joe Lubin of ConsenSys.

l Outstanding product: The Augur application which is the first crowdfunding product based on Ethereum, raising $5 million in 2015, and it has the market value of 110 million dollars, ranked 9th.

l Heavy support: It has been strongly support by the relevant people at home and abroad, because it was developed by Ethereum team.

l Mainstream trading market: It has announced on K net, and also got the support from the domestic well-known trading market.

In China, the government and the PBoC are appointed to strengthen the moderate regulation. An advisor to PBoC argued that :

Therefore the prospective investors should be cautious of ICOs – through which cryptographic tokens are sold and distributed via a blockchain.

Shuqin Tech is a Blockchain company in China, and also pays attention to the regulation of ICO. In the first half of 2017, some suggestions are provided for the purpose of improving the supervision of Bitcoin in China by Shuqin Tech. The solution comes from the aspects about funds mandate, transparent trading process, market education and so on. It also provides various Blockchain solutions for different industries, for more solutions:

https://www.baoquan.com/en/

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/> WHAT YOU WILL DO:

· 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.

2017年7月10日星期一

Blockchain Technology for Internatconal Payments: Ripple Giving a New Look

In China, the mobile payment and transfer has become more and more convenient. We can use AliPay or WechatPay for payment anywhere without taking wallet outside. However, the International payment still has many pain points, such as high fees, time delay, low fault tolerance and so on. At the same time, the trading volume of Chinese cross-border supplier has reached 6,500 billion in 2016, the average annual growth rate over 30%.

In other way, Santander has announced that they will be the first UK bank to introduce Blockchain technology for international payments through a new app. And the payments between £10 and £10,000 can be made, around the clock at any time of the day. There is no need for waiting for long time, funds will appear in the recipients account the next working day.

The Blockchain technology underpinning the app is provided by Ripple, a company which Santander Innoventures has also invested in. Working with Ripple builds on Santander’s philosophy of collaborating with the most innovative companies to consistently provide better services to customers.

Furthermore, Ripple tried to overcome the challenges in a different way than bitcoin. Instead of using proof-of-work, it relied on a new, unproven consensus protocol. This protocol requires users to extend trust to validating servers that produce this consensus. Relying on trust, rather than proof-of-work, kind of makes sense for Ripple, because you need similar trust relationships anyway for IOUs to work.

From the current situation, many industry insides firmly believes that Ripple has a great possibility to replace SWIFT, becoming the inter bank agreement in the Blockchain era. As the traditional financial telecommunication network provider, SWIFT has to face the impact of Blockchain, once Ripple or R3 alliance become the mainstream, it is destined to be marginalized.

Shuqin Tech started the research for the development of Blockchain chip design, primary digital asset transaction and consensus mechanism network since 2013. Its first product Baoquan.com is for e-data attestation, the trustworthy certificate which owns judicial effectiveness. Further on, Shuqin Tech is also working for the combination big data with Blockchain for the data sharing and circulation.

If you are a Blockchain developer, if you are familiar with IBM Hyerledger, Ethereum, siacoin or bitcoin, if you are good at golang language, if you wanna change your position, if you wanna fight in Blockchain field, if you are seeking for a better life, please contact us: js@baoquan.com

Website：https://www.baoquan.com/en/

2017年7月7日星期五

2017 FinTech Adoption Index , the Beginning of a New Era

Such research has a deeper survey on the 17 services from fintech company and non-traditional service supplier. These services are also called “Financial technology service”, which can be devided into 5 fields: Transfer & Payment, Financial Planing, Saving & Investment, Borrowing, Insurance. And the results come from more than 22,000 users in the different 20countries.

² Large scale application of FinTech in the main markets

The average application index of global FinTech is 33%, and the value was 16% in 2015. In China, the application index of FinTech is 69%, which means leading the world, and the value in US is only 33%. The average application index of FinTech in the emerging market is 46%: Brazil, China, India, Mexico, South Africa.

Compare with the application level of FinTech in 2015 and 2017 for the main market, the application index of FinTecn had a great growth in UK and Australia, and US and Canada also have been increased substantially.

Research Findings: The application level of FinTech which will be enhanced with the improved financial awareness of people.

² Higher application level of Fin Tech

In the 20 countries, the application level of FinTech is expected to be improved, the non-financial technology users will turn to financial services at the same time. According to the development level of Fintech, the global average value will reach to 52%, and Mexico, South Africa and Singapore may own the highest potential financial technology application level.

From above chart, we can find that there has the positive attitude in these 5 FinTech fields. The most obvious difference of proportion are the services for Borrowing and Financial-Planing. And the Transfer & Payment service will be most widely used in financial technology business, but its future growth may be declined due to the current high application ratio.

Research Findings: Consumers have a very positive attitude to the FinTech, and the application proportion of market and FinTech business will be increased in future.

Shuqin Tech is a FinTech company in China, and stared developing blockchain chip design, primary digital asset transaction and consensus mechanism network from 2013. Shuqin has lauched a Blockchain as a Service platform Baoquan Cloud. Supporting by Ali Financial Cloud infrastructure with high security guarantee and processing capability. And “the Trustworthy Electronic Certificate service + Blockchain as a Service platform + big data” has become the main engine of Shuqin’s development.

Website：https://www.baoquan.com/en/

2017年7月6日星期四

The World Economic Forum: Lead a Blockchain Revolution

Last week, the World Economic Forum has published a detailed white paper about a new distributed network of “ecosystems” with the distributed ledger technology across the following three areas:

l A Blockchain platform layer

l An application layer

l An overall ecosystem layer

In the preface to the white paper, the head of the World Economic Forum's Center for the Global Agenda, Richard Samans, described the impact such large-scale coordination could play on the impact of Blockchain. And for how existing consortia, private companies and governments could work together to maximize the potential benefits of a shared, trustworthy ledger of transaction.

For Blockchain match

There are two main groups within the World Economic Forum:

First is the newly launched Global Future Council on the Future of Blockchain, with membership including Hyperledger executive director Brian Behlendorf, R3 chief technology officer Richard Gendal Brown and Everledger CEO Leanne Kemp.

Second is the Center for the Fourth Industrial Revolution, launched last October to pursue new ways to leverage the mutli-stakeholder approach across industries.

However, such quite interesting use cases of Blockchain are really in the early stage of being explored, and there still has a long way to do with the development of pratical application.

Shuqin Tech is always committed to improve the application of Blockchain technology by coorperating with the government. Combined with big data as the revolution mean, then lead to the upgrade of the government service, which can satisfy the govern-sevice requirements for the individualism and diversification. Hence, with the strength of Blockchain technology and big data, Shuqin Tech is devoting themselves to developer the comprehensive platform for data circulation.

For more detailed information, please contact email: js@baoquan.com

2017年7月5日星期三

Blockchain for more Secure E-Government System

Recently, the countries all over the world start to apply Blockchain into government system. America first devotes themselves into public service and management system, which needs immutability and transparency. America isn’t alone in testing Blockchain use case area, as CoinDesk reported a few days ago, Japan is seeking Blockchain e-governmetn system solution to see how Blockchain could improve its online systems for accepting government contract bids.

Japan aims to to incorporate and integrate Blockchain technology into its e-govecrnment systems. According to Nikkei Asian Review, the Ministry of Internal Affairs and Communications, who oversees the Japanese administrative system and manages local governments, will test a blockchain-based system for processing government tenders in the fiscal year starting from this April through March 2018.

The centralized servers behind much of today's IT systems require costly protection against cyberattacks, and the risk of data theft places limits on the types of information that can be shared with and within government.

However, a blockchain-based system making tender applications easier for both the private sector and government. Instead of applicants collecting the tax payment certificates and other necessary documents from various government offices, for example, the agency issuing the tender would be able to gather the information electronically.

In China, government is also trying to apply such advancing technology——Blockchain in their system to improve the working efficiency. Shuqin Tech is a Blockchain solution company, and the main engine of its development is ‘the Trustworthy Electronic Certificate service + Blockchain as a Service platform + big data’ . Therefore, the use of blockchain technology in big data can make great use in government management system for information storage and circulation. ShuqinTech owns the complete and efficient product development system called Shuxin, and will be coorperate with government in the future.

For any question, please contact email: js@baoquan.com

For more solutions: https://www.baoquan.com/en/

2017年7月4日星期二

Public Blockchain advocacy in Germany: Open the Door to Government

Nowadays, a new organization focused on public advocacy for blockchain has been launched in Germany. Meanwhile, German politicians join the advocacy group for Blockchai application. It aims to an open environment for the development of blockchain applications, particularly in the public sector.

For the Blockchain Bundesverband, its political advisory panel includes representatives from the country's major political parties. Members include Thomas Jarzombek of the CDU and Jens Zimmermann of the SPD, Germany's two leading parties. Representatives from Die Linke, Die Grünen and FDP are also part of the group.

The organization is eyeing the next government to take power as a potential partner. And it is also calling for specific applications in the areas of record keeping and data management, as well as its use in "identity services and electronic signatures".

Therefore, more and more startups start to do research for Blockchain, and believe that Blockchain will take a leading role in the development of society. The Blockchain can not only develop the private institutions, but also for the public institutions, especially for the government sector.

The Blockchain solution for government has the following strengths:

l Break through the data isolution, to realize the convenience and real time sharing by point-to-point transmission.

Decentralized data exchange to ensure the efficiency of data utilization, further to realize the great value.

l For data traceability, which need technology support.

Who, Where, Call for what data, then into the regular report.

l For the incentive mechanism and performance evaluation.

The performance can be decided by the uploading data amount, data quality and unilization ratio.

Shuqin Tech is trying to work for the Govern-chain for the government, which combined the advancing technology big data with Blockchain.

For more Blockchain solutions: https://www.baoquan.com/en/

Contact email: js@baoquan.com

2017年7月3日星期一

“Internet+Government service”：Wang Maolu explains the Govern-chain

The 21^st ‘Internet+Government-service’session was held by the organizing committee of China International software Expo in China Dianke Taiji industrial park.

People from all over the world attending the session, including the member Wang Yukai of the national information technology expert advisory committee, vice president Xu Shijun of Taiji computer Crop, the government representatives from different provincial government and so on. The co-founder Wang Maolu of Shuqin Tech was also invited to attend and publish the Blockchain solution for the combination of Internet government service with the advancing technology.

Wang Maolu introduced the global development aspect of Blockchain technology, and indicated that the global Blockchain enterprises have the rapid development trend. As the underlying technology of Bitcoin, its trust mechanism can point to the industry pain points, hence more and more application fields have been explored, and more country government began to pay attention to Blockchain to solve the problems on the department management by Blockchain technology.

As a decentralized and distributed memory database, Blockchain has the characteristics of reliability and traceability, the interlocking logic and immutability of data can make the transactions more transparent. Using Blockchain technology, it can help government to authenticate the identity of citizens, to save the processing of identity confirmation, then to improve the efficiency and accuracy of tax collection and management, property management. The characteristics of transparency and immutability can break through the data isolution of government sectors, then to realize the value of government data, finally to combine Blockchain with city servive, which is the future trend of government institute.

In the end, Wang Maolu introduced the gevern-chain project of Shuqin Tech. Shuqin Tech is a technology company that based on Blockchain application, trying to integrate of social resources for the city service with the whole industry ecologies together. And for the concept of govern-chain: it is the whole process for the trusted recording, authorized by the government, to provide the comprehensive government credit to the society. Then to realize the real time query for the whole processing data on the chain.

For more solutions: https://www.baoquan.com/en/

Contact email: js@baoquan.com

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