Blockchain is not utopia

The current blockchain entrepreneurship has become a hot topic in the speed of lightning. In a short time, the blockchain entrepreneurial heat has experienced several important development stages.

Among them, the first stage is the geeks who have the “creation dream”, complete the vision of the great consensus, and show their core achievements to the world, such as the white paper of the father of Bitcoin, Nakamoto. The peer-to-peer electronic cash system proposes the features of blockchain technology, distributed storage, consensus algorithms, encryption technology, decentralization features, etc., it makes digital currency hot again, the discussion of decentralized payment and financial systems has begun.

On the basis, the technology geeks, such as Vitalik Buterin, open a wider application based on blockchain technology, the birth of Ethereum made more people saw their opportunities, not just the opportunity to buy a few bitcoins, but a batch of entrepreneurial projects based on the Ethereum smart contract system have quickly came out, more dreams of changing the world were implemented by more people.

In the second stage, there are more speculators who are active in the market. After encountering development bottlenecks in their business models and failing to achieve sustained and stable profitability, they will begin to look for the next cusp and concept, such as various types funds, various types of MLM organizations, various types of “crowdfunding” concepts and “P2P” concepts, these people have discovered new opportunities for blockchain waves with a sense of touch, especially the role of ICO as a tool.

As a result, various kinds of air currency projects have begun to enter the “bubble period” of blockchain entrepreneurship, the so-called “Great Leap Forward” mode, the birth of a variety of “coin circle, no brothers, only joint harvesting”, It also allows the public to show their life in a short period of time. The escaping of the air project, the activists’ defense and poison drinking have made the ICO Utopia and the blockchain utopia.

At the same time, a large number of media report a blockchain bubble, but also leave a brief description of the words at the end of the text. For example, professionals say that the blockchain bubble will quickly return to rationality after an instant burst. It is a good thing to really doubt the people who are engaged in blockchain entrepreneurship and the real value of the blockchain, and their projects will continue to emerge in the post-bubble era.

Other good quality medias report the group of eager talents, they are pushing the blockchain entrepreneurship into the third stage, that is, the real value creation and landing practice, changing the stage of real life, from the bottom up, a blockchain application revolution is taking root in the earth, creating a strong contrast with the air project floating in the air.

Judging whether a blockchain entrepreneurial project is a third-stage application project, there are roughly several criteria for judging.

The first is the technical ability of the team, whether it has a physical technical team, and having independent research and development capabilities is the primary premise. If you only change the code by technology outsourcing, you can only make one air project;

Secondly, it has a minimalized implementation of the closed loop, and has a successful application case. Otherwise, even if it is not an air project, the team will not run away, but it will face great risks due to the difficulty of the implementation of the technology.

Finally, there is a problem-solving ability for painful needs, an integrated solution, with the ability to truly empower incremental value, rather than simply changing the logic of a center to make money.

To determine whether it is Utopia’s blockchain project with such standards will lead you to a real value project, take the recent Ultiledger project as an example.

In terms of technical ability, Ultiledger was initiated by the technical geek Randolf Liang. Once as an engineer in China’s early blockchain technology, he launched the largest RippleFox community in China in 2014, and gathered a group of geeks and industry well-known people through community communication and interaction. And ripple is currently the world’s third largest digital currency, stellar is beyond Eos to become the fifth largest digital currency, the two founder is the father of American electric elder Jed McCaleb, who was first introduced to China by Randolf Liang. In 2015, Randolf Liang joined the Wanxiang Blockchain Lab and participated in the writing of the first blockchain application and development white paper of the Ministry of Industry and Information Technology. He was also one of the authors of the Chinaledger white paper. Received the title of blockchain system test expert issued by the Ministry of Industry and Information Technology, Ultiledger core technical team comes from this largest community, from Ant Financial, SAP China Research Institute, US State Street Bank, Ningbo Bank Head Office, Hikvision, etc. At present, there is a super-technical expert from the Hong Kong Stock Exchange, Tao Zuo, who is the former mainland general manger of Hong Kong Technology Centre of the Hong Kong Stock Exchange and the chief architect of Dalian Commodity Exchange, he is all in Ultiledger.

In terms of landing, Randolf and his team have helped large enterprises realize the application of supply chain finance in the process of making alliance chain by using stellar, greatly reducing financial costs and helping core enterprises to carry out supply chain management. Reduce the rigid debt, and at the same time more directly help small and medium-sized micro-supplier companies solve the difficult problem of difficult financing, landing on Saturday (002291), Daon Shares (002838), and currently having deep communication with Geely Automobile, Chery Automobile and BYD, the team also spent 2 months helping the national intellectual property center Zhuhai Hengqin Qiqinwan Intellectual Property Center to land on the copyright-related chain transaction.

Because of the successful implementation of the specific landing project, it actually supported the Ultiledger team to think deeply about finding a common method to solve more common needs of the enterprise, and finally realized the idea of the Ultiledger ecology.

In terms of business model, Ultiledger, as a new generation of “self-financing” blockchain protocol, realizes the empowerment of enterprise technology through blockchain technology, enabling enterprises to easily realize the optimization of business process data and flow according to the value in business processes. Demand, matching the internal “pass-token”, realizing the internal value transfer from the economy, possessing “self-financial” capabilities, and leveraging the credit agreements and technical capabilities provided by the Ultiledger platform to asset their physical and virtual assets. The securitization work and circulation on the open platform to realize the “self-finance” ability represented by “self-financing” is the best solution to solve the development dilemma of the current small and medium-sized industrial enterprises.

The blockchain ICO has cut the leek, let more people think that the blockchain is a bubble, and the dream of changing the world envisioned by the technology geeks will soon vanish. However, the real ambitious group have just entered the public eye and started to truly change the world.

Blockchain is not a utopia, it is not a problem; it is just an argument. This argument is also the best driving force for the blockchain to break through the bubble.