Welcome to the Fusion sponsored @OriginalWorks writing contest! Status: CLOSED. Accepted Languages: English

Start Time: ~10 PM ET, Friday

End Time: ~10 PM ET, Monday

This is a call to all great Steemit writers! Fusion has sponsored a Steemit writing contest!

Please make sure to read the contest topic carefully. Good luck!

Prize Pool Total: 460 STEEM Prizes: 370 STEEM + 60 Bonuses (1.5 Steem each) 1st Place: 56 STEEM

2nd Place: 47 STEEM

3rd Place: 37 STEEM

4th Place: 30 STEEM

5th Place: 28 STEEM

6th Place: 26 STEEM

7th Place: 23 STEEM

8th Place: 19 STEEM

9th Place: 17 STEEM

10th Place: 14 STEEM

11th Place: 12 STEEM

12th Place: 11 STEEM

13th Place: 10 STEEM

14th Place: 8 STEEM

15th Place: 7 STEEM

16th - 20th: 5 STEEM

21st - 80th: 1.5 STEEM Bonus Deadline: 72 Hours

All articles must be submitted within 72 hours of this post to be considered!

Changes in submission rules below

Fusion - The Future of Finance

Fusion will establish a new platform for cryptofinance. Fusion intends will be solving the divide between cross platform compatibility on the blockchain in the new world of "Internet of Values".

An analogy is drawn in the whitepaper, to how the old postal system was replaced by the email system. Fusion does not aim to improve the old, but rather to create a new system that can recreate all of the functions of a traditional financial system, but with greater efficiency and interoperability.

Cryptocurrencies carry a value, but current solutions at solving the issue of cross platform compatibility are costly and often inefficient. By solving this problem, Fusion hopes to be at the forefront the era of "Internet of Values".

Check out the summary here for a quick introduction! Fusion Summary Internet of Value

IOT(Internet of Things) has become a commonplace term.

The Internet of Values is a newly coined term that defines the ability to instantly transfer value the same way that we are able to instantly transmit data and information through the Internet.

The application of "Internet of Values" goes beyond traditional financial transactions. Every digital asset, token and cryptocurrency has a certain value as determined by the market.

The Fusion blockchain will enable blockchain developers to build applications for the new world of cryptofinance that allow multi-token smart contracts.

Current Blockchain Issues & Limitations

While the blockchain is an amazing technology that has innumerable applications, it has developed certain shortcomings as many new projects enter the sphere.

There is a lack of direct methods of operation and exchange of value between different chains as well as platforms. This restricts blockchain technology to operating within a sphere of their separate ecosystems. While this may work perfectly fine for their intended purposes, it restricts the number of financial tools that can be applied to such a disconnected market.

To tackle these issues, Fusion will map multiple currencies as well as their transaction logic.

Interoperability

Interchangeability lies at the heart of Fusion.

Through the development of various blockchains and tokens, a divide is forming which results in a cost and an inefficiency for the end-user. This limits the scope of each "value" to their respective environment.

By breaking the barrier between chains and organizations, Fusion aims to completely bridge the costly gap that has been formed in the world of cryptofinance.

Distributed Control Rights Management

As an example, a token developed in ERC-20 and a token powered by NEO require exchanges and multiple steps that incur considerable fees along the way in order to be exchanged between one another. Due to current limitations, an exchange of the "value" alone is a tedious task. Fusion envisions a platform that will not only make it inexpensive to trade between the two, but also allow the two to directly work together as it relates to finance, lending, derivatives etc. This will improve the amount of value that can be retained and utilized by the end-user of cryptocurrencies.

One of Fusion's key core technologies is DCRM(Distributed Control Rights Management).

In order to enable the mapping of cross chain cryptocurrencies, Fusion will use DCRM to control the private keys. The private keys would be distributed in a decentralized manner ("distributed storage") to ensure no single node has any private key in its entirety ("key sharding").

Separate tokens will be generated on the Fusion platform to represent those assets. This process is called "cryptoasset mapping".

This mechanism allows financial transactions of multiple currencies to occur within one platform in a secure and efficient manner, while maintaining the security integrity of the blockchain.

Fusion Cryptofinance Tools

Fusion will enable a wide array of cross chain financial tools to be developed.

The Fusion videos page outlines three use cases through videos.

FUSION Use Case 1: Risk-free Token Loan

FUSION Use Case 2: Risk free contracts market

FUSION Use Case 3: Mortgage smart contract

The use cases depicted in the videos are great possibilities of how Fusion can be implemented.

As an example, the third video - FUSION Use Case 3: Mortgage smart contract, depicts a mortgage smart contract. Investors are connected directly with the borrower, allowing them to purchase a home that is secured by a smart contract. The smart contract ensures that all parties involved are completely covered in the case that the borrower cannot make payment on time. By utilizing Fusion, the investors get a higher return, while the borrower gets a reduced interest rate. This is achieved by replacing the third party, traditionally the bank, by the smart contract.

Fusion Team

The team at Fusion consists of industry veterans with years of experience to ensure the project meets its goals.

CEO & Founder

Dejun Qian is the CEO and Founder of Fusion. He also founded VeChain, a cryptocurrency with a marketcap of over 2 billion USD at the time of this writing.

Check out this video with Dejun Qian:

