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Usechain, CEO caohuaning: blockchain without token is just service software

Time : 28/12/2021 Author : q03isb Click : + -
        Abstract: the coin free blockchain has become a consensus reached between China's Internet financial regulatory authorities and the market to develop blockchain. However, usechain CEO Cao Huining believes that blockchain cannot be without a pass. With the rise of ICO in 2018, all kinds of chaos in the blockchain industry poured in. The endless emergence of air coins and MLM coins has brought great difficulties to supervision. On September 5, 2018, the Shanghai Municipal Science and Technology Commission released the first white paper on blockchain technology and application, showing the top ten application cases of blockchain without money in three aspects: finance, government application and traceability. At present, the coin free blockchain has become the consensus of blockchain development reached by China's Internet financial regulatory authorities and the market.
        "A blockchain without money is a software service," Cao Huining said to chain De, "this does not bring benefits to people. Token is very important for blockchain, which determines whether people in the community can benefit.". Blockchain technology itself can make transactions more secure and solve trust problems. "Things on the chain can't be changed. Even if I don't trust them, they can still be traded. The value of blockchain technology enables transactions to occur in an environment of mistrust, and passes value with a pass." Cao Huining said to chain De, "but I don't think Chinese banks need these. The central bank essentially doesn't need technology to endorse credit. It is trusted by people itself.
        ”。 Cao Huining is not optimistic about the "coin free blockchain". He believes that the so-called coin free blockchain is easy to fall into the misunderstanding of "blockchain for blockchain." blockchain is essentially to solve the problem of trust and should be applied in the environment of "mistrust". In addition to the application of blockchain technology by major banks and financial institutions, another widely used application of "coin free blockchain" is in the field of logistics. Using blockchain technology, each process node in logistics is recorded on the chain, and users can query the origin of purchased products and various information. Because blockchain can only guarantee the authenticity of transactions and the logistics nodes of various products for the traceability of goods, but the authenticity of products, that is, the authenticity of information before the chain, cannot be guaranteed by blockchain technology.
        However, based on the uplink data, in the scene of time sequence and ownership dispute, blockchain traceability is appropriate. "For example, the traceability of certificates, transcripts and papers can be achieved by blockchain technology." Cao Huining told chain Dede that at present, the problems of degree fraud and academic misconduct in China are very serious. The degree inquiry system of the university is relatively closed and costly. Using blockchain technology, everyone can find out whether the degree is true or false, and it will be very convenient. Similarly, papers can also be synchronized to the chain, so that it is clear who wrote them first. Now many unclear plagiarism problems in academia can be used ‘ Timestamp ’ To solve.
        Blockchain applications in the field of copyright and patents are also not easy to achieve the desired results. Blockchain can record copyright and patents on the chain, but whether it is recognized or not requires the cooperation of legal departments. The information on the blockchain is ‘ Evidence ’, Its effectiveness needs to be recognized. Cao Huining, a professor of finance, has a deep understanding of the digital characteristics of finance itself. As many cryptocurrency investment and entrepreneurship are exploring now, insurance, asset management, securities trading, financing, option futures, etc. can be applied and developed in the form of blockchain. In the financial field, trading volume, that is, depth, is actually as important as price, but in the current exchanges in the blockchain industry, trading volume is easy to be fake, which also leads to people not paying attention to trading volume now, which is also the reason why the cryptocurrency market cannot develop healthily at present.
        At present, the power of the exchange is too great. Not only is the currency price easy to be manipulated, but the trading volume is also untrue, which will make many investors make wrong investment decisions. Cao Huining told Linde that with blockchain technology, many financial smart contracts in the future will have not only price variables but also trading volume variables. Usechain team is also studying how to put trading volume as an important parameter into financial products. Usechain, the world's first invisible mirror blockchain dedicated to achieving compliance finance in the blockchain world, will be launched on the main website at the end of this month. Cao Huining told chain Dede that usechain has now made a gambling project called usepower, which is similar to the American Powerball Lottery, and a guessing game (a derivative of hedging futures).
        Powerball is one of the most popular lottery games in the United States. It is co operated by the multi state lotteryassociation, a non-profit organization in the United States, and the prize pool is shared across states. Powerball is also one of the lottery tickets with the highest bonuses in the United States. The starting point of the first prize is set at $40million, and hundreds of millions of dollars have been awarded for many times, but it has frequently been exposed. Cao Huining introduced to chain De that in the United States, Powerball Lottery has a daily sales volume of 10million US dollars, and many people are interested in lottery tickets. "Guessing the rise and fall" is similar to options, and is similar to the current guessing of the rise and fall of Alipay and Baidu. Taking stocks as an example, if you guess the use currency correctly, it can be doubled, regardless of whether the stock actually rises or falls, which is equivalent to a hedging tool.
        Usechain's Powerball and guess ups and downs are actually a platform for the community to make liquidity conversion. He hopes to use this way to improve the activity of the community and attract more people to participate in usechain's community. "Our Lottery rules still have advantages over American Powerball." Cao Huining told chain Dede that American Powerball will draw 30% of the prize pool for medical treatment and education, but usechain will not draw a prize. "The use coins in the prize pool will not change, but the winners will take more than others. This will also allow more circulation of usechain's pass use coins and make people recognize use coins.
        ”。 Previously, the CEO of a public chain had predicted that there would be two tracks of commercial public chain and entertainment public chain in the future. When asked whether he would worry about usechain becoming an entertainment public chain by first launching applications such as Powerball and "guess the rise and fall", Cao Huining said that first of all, both Powerball and "guess the rise and fall" are legal in the United States, "guess the rise and fall" is equivalent to an option that can be traded on the Chicago Stock Exchange. But in China, you may be unfamiliar. Secondly, usechain will not only do Powerball or "guess the rise and fall", they will act as ‘ Infrastructure ’ Appearing on usechain is equivalent to buying an insurance or financial management for the merchants of usechain.
        Cao Huining said that in the future, a lottery smart contract will be made on the chain. Lottery does not belong to anyone. All the money is in smart contracts, which are completely operated fairly through smart contracts. "Lottery itself is decentralized, and it is very compatible with blockchain. Caohuining told Linde that with the lottery on the chain, it will break the unfair problems such as the black box operation of the traditional lottery, make the process from buying lottery tickets to lottery more visible, and make the lottery more fair. "Usechain's Powerball is fundamentally different from the gambling projects on the EOS chain. Gambling on EOS is profitable and has subjects, but usechain's Powerball has no subjects and is completely decentralized.
        ”。 "As for the commercial public chain and entertainment public chain," Cao Huining thought for a while and said, "this is not contradictory. Like Tencent, it is difficult to define what it does. Maybe it does social networking, but it also does games, and it also makes a lot of money." (this article exclusively launches the chain to get the app).
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