Higher the host: Good evening everyone, thank you all for join this channel. I can tell how popular Qbao is form the large amount of number of our audiences, even on the last workday before new year vacation, Happy New Year everyone.

ChenLin: Hi, I am the founder of Qbao, my name is ChenLIn, thank you for having me here, and wish you all a Happy New Year.

Higher: Lets start with the introduction of Qbao. It is an app based on Qtum chain which is the first main blockchain in China. I have studied a lot before this AMA interview, like the white paper, the app itself, and the concept of Qbao, which actually presents a huge picture to myself. In fact, I can share a little experience of my first image of Qbao. When we, the WANTS TO BLOCKCHAIN( the interviewer company), first heard Qbao before this interview, one of my cowork told me that” the CEO of Qbao is always working together with Qbao develop team, he is just like you and me, a programmer.”, that presented me an image of reliability and responsibility, cuz as I know, there are not many CEO still working with develop team now a day.

ChenLin himself has more than 10 years of working experience, been employed by Microsoft, and studied blockchain tech for a long time. So, just like us, the WANTS TO BLOCKCHAIN, we follow the path to popularize the blockchain as same as what Chen does now, blockchain is not yet well-known nation-widely. So, let’s hand the time to Chen, let him come and share with us.

Chen: Thank you, Thank you for having me here, it’s my pleasure to share with you.

Let’s start with the reason why we create Qbao. Since the time when I had first heard of digital currency, it has got a giant growth, especially during last and this year, which has drawn lots of attentions, and offers an opportunity for people to understand it.

At the same moment, the giant growth of digital currency has also caused problems, say a good amount of people who heard about it and even traded do not really know what they are trading or what exactly the blockchain is. That seems to me, when we have a deep understanding of the fundamental technology of the blockchain, we need a tool that can lead the users, or lets call them the token players, to experience the blockchain, and the conveniences that blockchain can offer, a tool that can offers you all the digital currency-related content, including wallet features, including social functions, of course, the exchange, transactions, payments and so on, this is what they really need, also, the source of Qbao idea. Therefore, we wrote the white paper for Qbao and also developed the Qbao app.

There are a lot of functions on Qbao now. Later we will release more features for everyone who is interested in digital currency and build a platform for them to experience more conveniences that Qbao app can bring to us, which allows people to enjoy the blockchain technology, and that is the core value of Qbao team.

Higher: Well, I have a few questions for you about today’s idea sharing. My first question is “What consideration did you make in Qbao’s social network function? In addition, between Qbao and the other blockchain social network products say beechat, what are the differences?

ChenLin: Thank you, this is a good question. First of all, allow me to answer the second question. First, Qbao integrates the two functions of decentralized wallet and peer-to-peer encryption. The reason we must use decentralization is, in our understanding of blockchain technology, its non-string modification and reliability, then that is to say all the user’s assets are owned by the user, rather than Qbao server or any other party, the user has every single right of property. This is what makes the differences. So why do we have to use extra decentralized social networks? In my opinion Qbao is not just a wallet, not only a decentralized social software, but also a key of the blockchain world, through Qbao, every user, regardless of age, origin, are allowed to connect to the digital currency world, at the same time Qbao is setting up such a big stage, to allow people to express themselves, so that we can have a greater customer stickiness.

Higher: You did a lot of research on the blockchain, so why did you choose the quantum chain? The quantum chain, although it is China’s first formal public chain, but it has been established less than a year. What kind of consideration makes you choose Qtum chain?

Chen Lin: Thank you. Before Qbao was founded, we considered a lot of chains. I am a programmer, and I am familiar with the fundamental technology of the blockchain, including Ethereum, bitcoin, etc.. The reason why we picked the quantum chain was as the follow:

1, Quantum chain, in my opinion, it is the next generation of the fundamental technology of blockchain, although its main chain is not that mature, but after we analyzed the code, we found out that Qtum iterations and related features matches our idea in many different ways. We also visited the core team of the quantum chain. Their iteration speed is indeed very fast, they also achieved a lot of innovative features, not only smart contracts and POS, but also many details changes which most people do not really care about. We can see that Qtum team is a real hard work team.

2, The global layout of the Qtum team. Members of their team in Europe, team in the United States, many of them are the people I know or learn about, they have not only contained a lot of talent resources, but also provided a lot of technical support on Qbao’s R&D.

3, The ecology of the Qtum chain includes, as we all know, INK, HLC, etc., as well as Cfun, etc. that recently joined Qtum family, which completes the quantum chain ecological environment.

4, The last one is that the deployment of application on the quantum chain is very convenient, especially the support of domestic nodes. The top first is based in South Korea, the second one is in China, this point makes it much faster and easier to use, compare to Ethereum. Also others reasons like the news Patirck Dai yesterday formally announced, the cooperation between Qtum and Stormer player, which will be a great help for the building of quantum nodes in China.

But as I said earlier, Qbao is more than a wallet or a social network software; it’s the key to the door of the digital currency world, so it certainly will not support quantum chains only, it must support other chains to open entire Blockchain world, thank you.

Higher: There are a lot of blockchain app in the market claiming that they offer encrypt communications to ensure information security, but many have another view that encrypted communication is a pseudo-requirement for ordinary people’s social life. What do you think about this?

Chen Lin: Thank you, I have mentioned above, Qbao is not just a wallet, and now many of it’s social network functions have been released, including lucky bonus system, quotes, pictures, video, etc.. Yet, for us, Qbao is not only a Social network, because these can be done through other app very easily. Anyone use a product is because the product can not be replaced in at least one function, the same can be obtained and lead us to a question, Qbao, What is it can be used to do? A wallet or a social network are not enough to summarize it at all. The core of Qbao is to build and connect a whole digital currency world, and at the same time this whole world only needs a key to unlock, and that key is Qbao.

Encrypted currency is for everyone, regardless of color, nationality, age. It is a real private property. With the same idea, encrypted communications give everyone another right, to speak freely. In my opinion, the emancipation of humanity is the real value of the blockchain technology. No matter whether this is my belief in the blockchain or the understanding, I am very happy to share with you all of it.

Higher: Thank you Chen, I believe many of us are impressed by Chen’s ideas, and his cognitives on blockchain. We know that when one contacts with the blockchain world, the hardest part is to break the existing ideas, and more difficult is to push the awareness to a higher dimension after entering the industry and build your own awareness.

At present, there are many competitions in the block chain industry. How do you think about Qbao’s prospects? Do you feel confident about the future of Qbao?

Chen Lin: Thank you very much. At present, the plan of our Qbao team is very full. Apart from the wallet, social network, currency transaction, and quotation we mentioned today, there will be exchange between tokens, offline payment, consultation, media, advertising, ratings and more.

One of them is the first cross-chain exchange, as we mentioned earlier, we are very familiar with the fundamental technologies of BTC and ETH blockchain, so the development of cross-chain technology is already on its way. We believe, after the development and testing are completed, it will meet you soon. As for some of the other main chains, we will choose some of them according to the Qbao communities’ feedback and the actual situation.

The second is the currency exchange, in this regard, we even move faster, the prototype of the product and development are drawing to an end. It is on testing stage now, I believe we will soon release it.

The third thing we are doing is offline payment. The real world and digital currency can be seamlessly linked. Think about it when you are holding a Qbao app, you can do any digital currency in anywhere with no payment limitation.

And for many others, there are many things to do for us, including the further optimization of Qbao social network functions, including, next week, the new interface update which will be released in 2018. Including the API’s open, skin and emoji shops, and more, and we’ll release all of them soon.

The only purpose of all of these things is to allow everyone to open the door to the digital currency world with just one key, Qbao.

In addition there is a black technology I can talk about a little bit. We know that Qbao is a completely decentralized application, it is absolutely safe, but in fact many people can not understand and protect mnemonic well. And this is a problem which can not be solved by the fundamental technology. Yet, we are working on a function that can bind everyone to the mnemonic using biometrics like fingerprinting, under a premise of anonymity, and of course, this can be realized safely and anonymously, thank you.

Happy New Year

Qbao foundation

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