The First Collision of Ideas Between Yale and Zhejiang University Alumni as Blockchain Has Entered the Ivory Tower

On July 24th, Sino-US Blockchain Technology and Application Seminar, which was co-hosted by Fortuna Blockchain Research Center @Zhejiang University and Fintech Association of Zhejiang, has been brought to a successful close here in Hangzhou.

Its a great honor for Fortuna Blockchain Research Center @Zhejiang University to have Professor Zhong Shao, Department Chair of the Computer Science Department at Yale University and Co-founder of Certik, Professor Wenzhi Chen, Director of IT Center for Zhejiang University, Brian Cai, Founder of Fortuna, Shengqing Zhu, Founder of DCC. Xiaoxiao Song, Co-founder of DATA, all delivered their keynote speeches. Jianliang Shao, general manager of Blockchain business division at Canaan, Xizhi Pan, COO of JD Cloud Blockchain Lab, Kim Seongkee, Co-founder of MoFAS attended the roundtable forum after the keynote speeches. This seminar marks the debut of CertiK here in China and the first collision of ideas between Yale and Zhejiang University Alumni in the blockchain field. Also, it is the first meetup that gathered CertiK, Fortuna, DATA and DCC, the four Blockchain projects established by Yale Alumni. During the seminar, all the attendees had heated discussion in terms of blockchain security, financial application of Blockchain, the meaning of blockchain to data, etc.

CertiK is a blockchain project famous for formal verification of smart contract. Professor Zhong Shao attended this meetup as the Co-founder of CertiK, and he delivered a keynote speech which was named Building Fully Trustworthy Smart Contract and Blockchain Ecosystem. He indicated that we could conduct formal verification by splitting big program or system into small modules. CertiK can verify whether the smart contract is complete and secure effectively. Meanwhile, he also thinks that the blockchain technology is still in its early development stage. As the gradual improvement of expandability and trading performance, the complexity of the system will be much higher. Therefore, the needs for safety hazard prevention and formal verification of smart contract will be much more substantial. Formal verification, as a mature technology in the safety field, has been successfully applied to many areas. If we make use of it in the blockchain world, then the security, consistency, intelligibility, programmability of a smart contract will be way higher. So thats why CertiK has spent tons of time and energy into doing this thing.

In the past two years, Chinas blockchain technology has been rising and was even leading in the international arena. Under this circumstance, high-level universities driven blockchain technology and projects cant be neglected, especially blockchain projects created by Zhejiang University alumni. Professor Wenzhi Chen, one of the leading figures in the blockchain technology research of Zhejiang University, also given an excellent sharing at the venue. He detailedly explained the advantages of applying DAG technology in the blockchain field for all the attendees. Also, he denoted that well enhance privacy protection of blockchain through the way of adopting ring signature, zero-knowledge proof, etc.

Fortuna is the first Blockchain project created by Yale alumni. Brian Cai, its founder, delivered a keynote speech which was named Derivatives Will Be the First Application of Blockchain Finance. He denoted that the essence of finance rests with the value exchange in specific time and space. While the development of finance is moving forward all along under two main thread of enlarging the scope of value exchange and reducing the trading costs. So here, the blockchain, as the only technology that was endowed with a full set of financial system, has undoubtedly contributed a lot to those two aspects. For example, a blockchain-based token is currently the most effective means of asset securitization around the world. While for the reason why derivatives are most likely to be the first application of blockchain finance, they are as follows: Firstly, the pointcut of financial derivatives is well-focused. Secondly, it will never be restricted by existing ecological bottleneck problems, such as putting data and asset on the chain. Fortuna, as the forerunner and pioneer in this field, is now poaching world-level talents from Wall Street, Chicago, etc. We aimed to revolutionize the financial derivatives world with the blockchain technology.

Distributed Credit Chain (Known as DCC for short), is worlds first distributed public chain for banking. DCC is dedicated to building a distributed ecosystem for global financial service institutions. Also, it aims to realize benefit-for-all finance through a distributed-bank financial system globally. During the seminar, Shengqing Zhu, Founder of DCC, delivered a keynote speech which was named  Solution for Financial Systematic Risks: Distributed Credit. He noted that you would never know how valuable your credit data is going to be. Here, DCC can help you maximize the value of your credit data.

DATA, which aims to solve the trust issues among users in the digital ecosystem with the use of blockchain technology, is another excellent project created by Yale alumni. Xiaoxiao Song, its co-founder, delivered a keynote speech which was named Blockchain  the New Backbone of Digital Ecosystem. He indicated that the current digital ecosystem is entirely a mess while DATA will dive more in-depth in this field with decentralized layer data protocol driven by AI technology and P2P mobile storage architecture.

After the sharing part, with Brian Cai as the host, Professor Zhong Shao, Department Chair of the Computer Science Department at Yale University and Co-founder of Certik, Professor Wenzhi Chen, Director of IT Center for Zhejiang University, Brian Cai, Founder of Fortuna, Shengqing Zhu, Founder of DCC. Xiaoxiao Song, Co-founder of DATA, all delivered their keynote speeches. Jianliang Shao, general manager of Blockchain business division at Canaan, Xizhi Pan, COO of JD Cloud Blockchain Lab, Kim Seongkee, Co-founder of MoFAS attended the roundtable forum. They had an in-depth discussion regarding blockchain knowledge, security, performance, differences between China and U.S, differentiated investment philosophy in the internet era, etc.

Fortunas meetup is a meetup series hosted by Fortuna Blockchain Research Center @Zhejiang University on a regular basis. We invited famous scholars from both home and abroad this time. The seminar enabled us to realize the fact that its reasonably possible to bring blockchain related technical discoveries in the colleges into practice.Follow us: Telegram, Twitter, Reddit, LinkedIn, WikiWebsite: www.fota.io Email: hi@mail.fota.top