Beijing Witnessed the First Edition of the Global High-Throughput Public Blockchain Technology Summit on August 18th
Beijing Witnessed the First Edition of the Global High-Throughput Public Blockchain Technology Summit on August 18th InterValue Follow Aug 22, 2018 · 6 min read

Hosted by the InterValue’s Foundation, the summit was successfully held in Beijing on August 18th.

Yuan Yong, Director of the Blockchain Committee of China Automation Society; Li Daxue, founder of Magnetic Cloud Technology; Barton Chao, founder of InterValue; Wang Binsheng, Distinguished Professor of Graduate School of Chinese Academy of Social Sciences; Zhang Hongxin, Director of Institute of Digital Assets and Blockchain of Zhejiang University; Jiang Xinwen, Professor at the School of Computer Science of National Defense Science and Technology University; Li Wei, the founder of BodyOne; Wu Pengsong, co-founder of 2FChain; Li bin, founder of Rootscap Capital; Li Gaoqiang, co-founder of Ben Core Capital; Peng Fei, product director of HashStor. They shared valuable insights with the audience.

Professor Yuan Yong addressed three main points on the topic of blockchain and artificial intelligence at the summit forum.

• What results can be produced by using artificial intelligence combined with blockchain? The rise of distributed artificial intelligence

• How artificial intelligence is structured on the blockchain: parallel architecture

• How artificial intelligence and blockchain change the existing world: non-disruptive, natural evolution

The most important characteristic of blockchain technology is its “decentralized autonomy”. Its P2P network, distributed consensus mechanism and contribution-based economic incentives are natural aspects, which make it a distributed autonomous social system. Each node in the blockchain system will act as an autonomous agent in the distributed system.

Blockchain provides a reliable, usable, and efficient data foundation for artificial intelligence. Building a house on the sand doesn’t require a strong foundation, but when it comes to building a high-rise building, better do it on a reinforced concrete foundation. The same goes for blockchain as a foundation for artificial intelligence systems.

Wang Binsheng, Professor at the Graduate School of the Chinese Academy of Social Sciences, received a warm enthusiasm from the audience.

He pointed out that the economic essence of blockchain popularization lies in the transfer of assets. Traditional economic behaviors, including currency issuance, will be digitalized. The traditional organizations with central authorities and intermediaries will gradually disappear. Tokens will be the value distribution tools in the era of collaboration through the combination of artificial intelligence and the Internet of Things. Besides, fiat currencies will gradually disappear from the circulation in the future.

The popularization of blockchain technology solves the problem of centralization and wealth concentration that has existed since the beginning of the human industrial era. In the era of the multi-token economy, the value of life will be redefined. So will be the concept of wealth, as part of a natural process.

Barton Chao, the founder of InterValue, officially announced during the summit the results of InterValue’s TestNet 2.0.

· Pure performance test: 10 shards≥2,400,000 TPS

· Actual transaction performance test: 10 shards ≥ 200,000 TPS

· Different geographical distribution test: 10shards ≥ 420,000 TPS

· Performance test after signature verification: 10 shards≥ 100,000 TPS

· With signature verification and erroneous data performance test: erroneous data has no impact on transactions, and system fault tolerance meets the expected results.

Barton Chao also gave his interpretation of the current development trend of the blockchain industry:

1) The bubble will gradually pop-off.

2) Projects with tangible achievements and hard work will succeed.

3) Progress is quick, which may accelerate the end of the current crisis.

4) Real blockchain applications are expected to occur within one year.

5) Company and Community will gradually become indistinguishable.

BodyOne’s CEO Li Wei announced at the summit that “We should see more from the application point of view. His company launched the first fitness mining machine. How to combine this with other blockchain use cases? What is the incentive for fitness practitioners to participate in the Token economy?” He gave an in-depth interview and offered 2 fitness bike mining machines to win through a lottery.

HashStor, the most cost-effective professional IPFS mining machine in the market.

Peng Fei , Product Director of Hashtor, introduced HashStor in details with the theme of “Permanent Storage forever”. He brought five units of the “H1 Family Economic Version” mining machines, which were donated to five lucky guests on the spot. At the same time, HashStor’s pre-sales event officially kicked off. These five guests will become the first users to experience this item.

HashStor will also serve as a premium blockchain solution provider, leveraging blockchain technology to drive its own growth and provide quality service to its customers.

InterValue has signed strategic agreements with 15 partners including ICC, BodyOne, HashStor, DGames, Magnetic Cloud Technology, Origin Capital, Pentax Capital, Xidian, Beijing Institute of Technology, 2Fchain, Coin, New Start, CSDN, Coin, and Coin World. The strong alliances aim to jointly build a new ecosystem in the blockchain industry!

Barton Chao, founder and CEO of InterValue, gave an award to partners who signed a strategic partnership agreement.

Ran Lizhi, the founder of Rootscap Capital, an investment fund, made a detailed analysis of the market in the past year and pointed out that there is also a positive side.

• Token- and blockchain-proponents, who have been despising each other, will eventually reach consensus

• The market may be flooded with worthless tokens , but blockchain applications really start to appear

• Pure technology concept -a case of the economic restructuring of production relations

•Currency change, chain change, ticket change, and empowerment of the real economy.

Three major phenomena are not impacted by bear market:

1) Changes in the financial environment

2) Development and breakthrough of public blockchains

3) Generalized impact on the economy.

Bruce Li, the co-founder of Benrui Capital, made a detailed analysis of the status quo and prospects of blockchain technology. He talked about the nature of the blockchain as a tool for large-scale collaboration in a fully open environment and P2P network conditions.

Blockchain is a type of technology that enables everyone in the world to send transactions and get validation. Consensus can be reached in the shortest possible time. The blockchain infrastructure provides the most efficient type of transmission environment and storage space for a variety of ecosystems.

This forum provided a high-level communication platform for the blockchain industry and offered very good opportunities for investment institutions, blockchain application companies, technology communities, and media to get together and participate in the advent of the new blockchain 4.0. era.

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['Technology', 'Blockchain', 'Inve', 'Intervalue', 'Bitcoin']