China’s Blockchain Innovation Summit Forum (Shenzhen)-Blockchain and The New Ecology

On December 21, 2017, the “China Blockchain Innovation Summit (Shenzhen)” co-sponsored by 8BTC, Bytom and the Dreamer Fund was grandly opened. The forum invited representatives from the venture capital institutions, financial institutions, law firms and business leaders of blockchain. With the theme of “blockchain technology, value interconnection of industries and capital and ecological outlook”, the forum featured keynote speeches and roundtable dialogues, conducted in-depth discussions on risk investment in the area of blockchains at home and abroad, legal supervision, exploration of advanced technologies in the blockchain, and industrial applications.

8BTC founder Chang Jia, Bytom founder Duan Xinxing, Dream Valley Fund founder Zhu Bo, IDG Capital Partners Tong Chen, Zhong Lun Wende law firm senior partner Chen Yunfeng and other guests attended the forum

Blockchain Development is Driving Into A Fast Lane

Chang Jia:The Parallel World of Blockchain — A Mirror Image of The Blockchain and The Internet

In this forum, the founder of 8BTC Chang Jia, made a brilliant discussion on the theme of “The Parallel World of Blockchain — A Mirror Image of The Blockchain and The Internet.” Chang Jia recalled the development trend of the blockchain. As one of the most mature applications in the blockchain — digital money, worthless in 2009, and now exceeds 600 billion U.S. dollars, digital currency market value has helped to see a rapid development.

The emergence of blockchain has also contributed to the “evolution” of assets, which have evolved from equity-based assets and securitized assets to “blockchainized assets.” The mode of transfer can be transferred from an overall transfer to a split transfer to an unlimited split transfer. Registration method changes from centralized authorities, central servers and rights institutions to registered by public / private keys.

Chang Jia also discussed whether digital money will be replaced by competitors, and why the bottom of the block chain agreement is more valuable, why the need for mining, what are the differences and hot issues between blockchain transactions and Alipay, from Chang Jia point of view, it seems that behind these questions essentially reflects the mirror image of the atomic world and the bitcoin world. For example, everything on the Internet is replicable, and on the blockchain network, all transactions are recorded in chronological order, open and transparent and not tampered with, guaranteeing that everything in the blockchain network is the only one, such as there are no two identical leaves in the real world. Chang Jia lastly mentioned the concept of “currency destruction”. Each “currency destruction” is equal to the product of the transaction amount and the corresponding product interval. The traditional credit rating system used simple accumulation method, and easily resulted in a phenomenon called “Credit brushing”. The blockchain which introduced “currency destruction” can avoid this kind of problem

Bytom and Numerous Blockchain Innovative Projects Will Build Ecological System

From 2017 onwards, the blockchain industry has witnessed rapid growth and accelerated capital entry, and at the same time, blockchain technology ran in with various fields, continuously exploded with innovative vitality and acceleration with cutting-edge technologies such as artificial intelligence, networking, big data platform merging. In the areas of financial services, food safety, culture and entertainment, has moved from concept to real application usage.

In China, blockchain technology has been included in the “13th Five-Year Plan” for national informatization, the momentum for the establishment of the blockchain in China is in full swing, and in the areas of financial infrastructure and services, identification, transaction settlement and digital currency wallets etc, we see emergence of a large number of excellent project representatives in the field, and ecological construction started to get completed. At this conference, as one of the highly anticipated sectors, the private-owned public chain in the domestic asset field Bytom, held a signing ceremony with numerous ecological partners.

As the highlight of this forum, Bytom held a centralized signing ceremony with 10 eco-partners (Maker blockchain, Time shuttle, Money Arrival etc), these partners cover many application scenarios including Internet finance, sharing economy, culture and entertainment. Bytom will work together with the ecological partners in their respective fields using the technical and resource advantages in the blockchain technology and its applications to establish long-term, strategic cooperation.

At the signing ceremony, Duan Xingxing, founder of Bytom, said: “Although Bytom has just started out as an asset-specific public chain, we are willing to work with our partners to innovate and prosper together with our partners in an open mind, embarking on a new journey. Bytom is willing to work together with all parties.

Six Panels, Big Names Gathered

Panel:How traditional VCs are compatible with the blockchain ?

Following the signing ceremony, representatives from venture capital institutions such as IDG Capital, Northern Light VC, Qingsong Fund, Shichuo Capital, Link Capital and Initlal Capital, BITMAIN ,CHBTC, COLDAR, imToken and other hardware vendors and wallet service representatives, as well as Bytom, ObEN, Achain, energy blockchain laboratory, Smartmesh, Maverick Chain, jixianyuan, EditorAi, Xiaomi, limboworks, discussed on subjects such as “How traditional VCs are compatible with the blockchain ?” ,”The impact of finance and regulation on the ecology of the blockchain,” “The ecology and application of digital currencies,” “Blockchain technology Ecological development “,” Ecological development of blockchain and artificial intelligence “and” Future prospect of blockchain and game industry “and other topics.

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