Data Capitalization Campaign, Launching of Leo on Elastos Trusted Computing

Grand Opening of “Data Capitalization Campaign, Launching of Leo on Elastos Trusted Computing” Community Ceremony, Held in Shenzhen:

2019 “Data Capitalization Campaign, Launching of Leo on Elastos Trusted Computing” Community Ceremony was launched on August 27th in Tencent, China.

The ceremony was hosted by Tencent Cloud, BLOCK GLOBAL, Elastos, StarryMedia, Manhattan Project Fund, Newborn Blockchain, and SINOC.

Supporting organisers were Brock Technology, Coinin, Blocktimes, Beecast, Block Capital, Huopin Online, GCBA, GSIPA, Huobi Indonesia and Blockchain No.1. Media supporters were Jinse Finance, Lieyun Finance, Erduo Finance, Blocklike, Shilian Finance , FN.COM, Tuo Niao blockchain, Hubox, BitMixC, Chainhoo Finance, Zero Knowledge Blockchain, Mema24.com, Wu Finance, U News, Bitecoin.com, Bibaodao.com, Bcsky.pro, Chain Century Finance, Milim Finance, Meng Niu Zi Xun.

The organizers of the ceremony, Tencent Cloud Vice President Long Wang, Elastos Co-founder Feng Han, and BLOCK GLOBAL Founder & Chairman Yanqiang Shi, delivered their own respective speeches.

(Zhijun Zhang, Chief Information Security Architect of the World Bank)

Zhijun Zhang, Chief Information Security Architect of the World Bank, took the stage to announce the “data capitalization campaign” drafted by Mr. Feng Han. The central message focused on technical compatibility and the embarking of an open-source journey by sharing information and discoveries to all joiners. Zhang preached of “making data public wealth.”

In application, we will strive to promote the use of the new Internet trusted computing technologies to protect user data rights. We contribute to society by pursuing the advancement of technology, innovation of ideas, and data security.

(Elastos Co-founder Feng Han)

Next, Elastos co-founder Sunny Feng Han, gave his speech on the stage. He spoke of the rapid development of China’s digital economy and the accumulation of big data has laid the foundation for Chinese people to increase their wealth. This increase of digital wealth amongst Chinese people will create the strong support for global credit expansion of the digitized Renmimbi (Chinese currency). The capitalization of data is what will lead to profits.

The increase of personal credit limitations, big data mining becoming data proof-of-stake mining, personal digital creations converted into tradable digital assets, and the gap between the rich and the poor caused by data discrimination can be reduced.

(Long Wang, Vice President of Tencent Cloud)

Long Wang, Vice President of Tencent Cloud, also delivered a speech. He first introduced the contents and development process of trusted computing and cloud computing to the audience. Cloud computing is a big leap forward in the information age. The future may be the era of cloud computing.

There are many definitions of cloud computing, but in general, the basic meaning is consistent. Cloud computing has strong scalability and necessity which provides users with a new experience. The core of cloud computing is to coordinate numerous computer resources together so that users can obtain unlimited resources through the network instead of being limited by time and space.

Cloud computing in the early days was simple distributed computing with results aggregated upon completion. With this cloud computing technology, a large amount of data could be processed in a short period of time to achieve powerful network services. As technology has developed further over time, big data is being used more frequently. The current state of cloud computing is now a hybrid of computer technology. Tasks such as distributed computing, utility computing, load balancing, parallel computing, network storage, hot backup redundancy and virtualization have come to the forefront of cloud computing. All these technologies together has propelled the efficiency of cloud computing to another level.

(Audience in the Ceremony)

Yanqiang Shi , Founder and Chairman of BLOCK GLOBAL, spoke next. He believes that the event will help promote data capitalization and achieve greater commercial and societal values. He also introduced the overall ecosystem and development plan of BLOCK GLOBAL, the world’s leading blockchain technology media group.

Currently, BLOCK GLOBAL includes “four media companies, two industry associations, one eco-fund, and one talent management services company.” BLOCK GLOBAL has invested in more than ten blockchain companies which completes its first move into the blockchain industry and into the full spectrum of Asian blockchain media.

Song Bao, CEO of the Manhattan Project Fund, delivered a speech. He said that business profits are constantly shifting to companies that can master and process data, such as Alibaba and Google. Data is the new era of oil and energy which will inevitably introduce new technology infrastructure and new business models.

For the UBI (universal basic income) concept proposed by Andrew Yang, the 2020 US presidential candidate, everyone will own their data and Bao Song believes that this is a change in the existing social governance of “drilling” as if “data is oil”. Innovative business models will emerge. Some might feel unbelievable now, but they could be the future trend.

LEO enhance Elastos’ off-chain security with an additional hardware security layer alongside the Elastos Runtime to guarantee the data privacy, security, and ownership through the trusted computing layer. The launch of LEO on Elastos trusted computing open source community is to provide underlying technical support for data capitalization. He also talked about the current technology development and presented the global smart contract running node simulator produced by Kevin Zhang in Silicon Valley. This simulator allows everyone to see how the simulator can monitor various nodes distributed around the world in real time, communications, status of underlying running protocols, reward distribution, etc.

(“Digital Currency Research and Blockchain Industry Application” Roundtable)

A roundtable forum themed “Digital Currency Research and Blockchain Industry Application” was held. The forum was hosted by Sunny Feng Han, co-founder of Elastos, Qingchun Shentu (CEO of Silver Chain Technology), Jianing Yu (former President of the Huobi University and Director of the Blockchain Laboratory), Brian Weimin Xin (CEO of Xin Han Da Technology and Former CTO of MSN China) and Wei Wu (founder of SINOC); they participated in the discussion as special guests.

They raised their views on the impact of the China central bank’s issuance of digital currency on third-party payment solutions and how blockchain technology improves existing Internet cloud storage as well as centralized storage pain points. Qingchun Shentu said that the aim of the digital currency issued by the central bank is to replace the existing cash-based system. According to China’s current cash flow statistics, its daily turnover is about several billions. The core of the digital currency designed by the central bank is peer-to-peer payment systems which relies less on third-party payments software and intends to develop a proprietary app for payment transfer operations.

Jianing Yu said that technology is a double-edged sword and we must think more and observe carefully the promotion of technological development. With the development of the digital economy, it will inevitably bring new ways to existing production methods and distribution methods. We need to find a healthy and sustainable path in the processes of change.

Brian Xin said that the credibility of data is very important. Only in a secure and credible data environment will we be able to store our assets with confidence and use them substantially in relevant economic activities.

Wei Wu said that at this stage, China’s digital currency and digital economy concepts need to continue to be popularized and there is a shortage of talents in the digital currency field. The road to digital currency system development has a long way to go.

Xitao Wu (CEO of Red Brick Square) delivered a speech. He said that the Newborn blockchain is the world’s first mobile phone public chain launched by Red Brick Square. It relies on the PoET consensus algorithm and has parallel chains with mechanism to achieve confirmation time in seconds. These enable low power consumption, high TPS, and fast single transaction confirmation. They are taking a big step in the large-scale commercial applications of blockchain technology. Red Brick Square first proposed the concept of generalized digital assets, including valuable texts, audio and video, digital assets such as 3D files and a set of generalized digital assets trading platforms for trusted computing. Newborn blockchain enables users to easily control their own digital assets and open a new era of Web 3.0. With the development of technology over time, Internet tools that people can utilize have changed from the PC to mobile. The Newborn chain is determined to create a blockchain network which connects everything.

(“Technology builds ecosystem and reshapes financial landscape” roundtable)

After that, the roundtable forum themed “Technology builds ecosystems and reshapes financial landscape” was held. The forum was hosted by Xitao Wu (CEO of Red Brick Square), Yanqing Shi (Founder & Chairman Block Global), Fei Wu (Tencent Cloud Blockchain Architect), Xijun Xue (Chief Architect of Tencent Cloud Data and Artificial Intelligence Product Centre), and Dan Xiong (Partner and President of Huobi Indonesia Digital Currency Exchange). They raised their relevant views on the arrival of 5G era, the influence of blockchain technology in the financial fields, and how the development of blockchain technology addresses the pain points of the financing difficulties faced by SMEs.

Yanqiang Shi said that with the development of AI technology and intelligent robot technology, a large number of existing basic positions will become unmanned in the future. Due to this fact, there must be a clear understanding of the future trends and an understanding of what is valuable and irreplaceable; data is highly valuable. They subsequently proposed to set August 27 as the Blockchain Data Credibility Day, advocating that everyone should recognize the value of the data.

Fei Wu said that the development of science and technology has made an era progresses. In early days, confirmation of ownership for articles, videos, and other related assets was very difficult to achieve. However, the emergence of blockchain technology has changed this phenomenon and allowed some entity assets to be digitized and hence expanding their application scenarios.

Xijun Xue believes that any data is valuable and the value lies within the direction of application. At this stage, a large number of small and medium-sized enterprises in China have a large amount of data, but they cannot fully utilize their value. If they can realize the freedom of data flow in the future, then it will bring significant social changes.

Dan Xiong claims that a unified price assessment standard system is an important component of the data capitalization process. On this basis, promoting data privatization will help more data to enter the circulation system.

(The launching ceremony)

Finally, in the closing ceremony, Zhijun Zhang (Chief Information Security Architect of the World Bank), Kevin Zhang (Senior Engineer from Silicon Valley), Feng Han (Co-founder of Elastos), Long Wang (Vice President of Tencent Cloud), Brian Weimin Xin (CEO of Xin Han Da Technology and former CTO of MSN China), Yanqiang Shi (Founder & Chairman of BLOCK GLOBA), Song Bao (CEO of Manhattan Project Fund), Xitao Wu (CEO of Red Brick Square), Jianing Yu (President of the Huobi University and Former Director of the Blockchain Laboratory) and other guests promised to participate as initiators in the data capitalization campaign and the launching of Leo on Elastos trusted computing community. They will work together to embrace an era of prosperity that is more equal and more innovative.