Event of Partnership between PlatON and QB.com on Enhancing PlatON Ecosystem
On Apr.1, 2020, PlatON hosted an online event of partnership with QB.com, the world’s leading digital asset exchange that offers a secure and reliable BTC and ETH service to users. PlatON CTO James Qu and the Head of QB.com Financial Product Thomas Ho shared the business features and collaboration visions. Research Director of Chain News Mr. Pan and the editor-in-chief of Cointelegraph China Amey hosted this event. PlatON announced that QB.com has joined in PlatON ecosystem as a validator to help enhance the network stability and community building.
🌟 QB — Carry Forward the Strengthens of Data Finance and Deeply Dive into the Blockchain Industry
Introduction of QB.com
Thomas: QB group, whose predecessor is Bitbays founded in 2013, is made up with investment institutes. Recent years, QB group has invested and incubated many notable public blockchains, quantitative investment companies, exchanges, mining institutes, medias and blockchain-based security firms, such as yunaq.com that provides security assurance for QB, ChainNews, the madia partner of QB, FBG Capital, the blockchain investment fund, etc. Currently, QB group mainly consists of:
1. Tokenview: a generated block explorer that has provided browse and search services for many mainstream public blockchains, and the trace and comprehensive analysis of on-chain data for many institutes;
2. Bitcapital: a financial institute located in England that has managed more than $1B assets in total;
3. Mining sites
4. QB.com: the open window to expand international expansion of QB group.
Next, we will carry forward our strengthens on data finance and deeply dive into the blockchain industry to provide better data support of Tokenview, continue the asset management service of Bitcapital and improve the financial product design of QB.
How Do You Think about the Follow-up Development of Blockchain Industry?
Thomas: Blockchain is a distributed storage technology that has been commonly used, thus whether if the technology fundamental of blockchain can support the real uses cases is of great importance to the development of the whole blockchain industry. Recently, we see many management and commercial application issues of public blockchains of which the main nets have been officially released, resulted in the development resistance of the uses cases. These public blockchains definitely can’t satisfy the investors, and many people doubt the development of the blockchain industry.
In my opinion, all these problems are just a part of the development and iteration of a new technology.
How Do You Think about the Application of Privacy-Preserving Computation in the Finance Industry, whether if QB will collaborate with PlatON?
Thomas: Finance data is the core asset in the Fin-tech field, the whole life circle of data including collection, integration, analysis and computing are all valuable, and once gets attacked and stolen, the companies will suffer a great loss.
Throughout the world, data leakage is just a common occurrence, such as the Equifax event in 2017, HSBC event in 2018, and the recent Sina Weibo and Zoom issues. The data disclosure issues have drew worldwide attention to the data security, such as the General Data Protection Regulation (GDPR) in EU, Privacy Act and Cybersecurity Act in America, and Personal Data Protection Act (GDPA) in Singapore, etc. China also issued the People’s Republic of China Cyber Security Law, and Personal Information Protection Law in revision.
The data collection of Fin-tech should obey the laws and regulations to protect users’ right-to-know, and enable users to be clear about how the data are collected and used to.
Currently, Fin-tech and other same business are facing the challenges when forming the collaboration based on private data;
1: centralization: when collaborating with institutes or firms built by the first-tier banks or enterprises, other parties in the collaboration programs will worry about the customer loss once the data is controlled by the first-tier banks or enterprises;
2. security: there will be data disclosure risk when sharing the private data and sensitive data with other firms;
3. right affirmation: data can be easily copied in the exchange, transmission, processing and access so that can’t be affirmed. Without affirmation, data asset can’t be authorized. Thus, there won’t be clear right & interest relationship and productive relationship to definite the value and reallocate the profit reasonably.
We believe blokchain technologies can solve the long-term issues in the traditional businesses to the great extent. Hence, QB will collaborate with PlatON on Privacy AI including security and data businesses.
Why Did QB Joined PlatON as a Validator in the Early Stage and How’s It?
Thomas: We keep paying close attention to the development of blockchain industry, and wish to collaborate with promising and sustainable projects. We can see the development of the whole blockchain industry just follows the insights from founder of Wanxiang Blockchain and PlatON Dr.Xiao, including the Cosmos’ asset cross-chain and the upgrade of Ethereum towards the Internet of Value, Bitcoin Lightning Network supporting payment, etc, showing the availability of blockchain,
We’re very excited about PlatON’s solutions on data privacy, and wish to see the efficient application of data value. Thus, we immediately joined PlatON ecosystem as a validator at the early stage when PlatON launched its Galaxy Rally. So far, QB works well in PlatON’s new Baleyworld test net, and we set 100% delegation reward ratio for all delegators who support us. Welcome to delegate QB.
🌟 Privacy-Preserving Computation — Infrastructure for the Whole Digital Era in the Future
Technical Architecture of PlatON on Privacy-Preserving Computation
James: We started and then focus on privacy-preserving computation from the standpoint of digital asset era. We keep pace with the top firms in the basic researches of privacy-preserving algorithms and international collaboration plans, and each of us has the unique advantages. PlatON mainly focus on the core privacy-preserving computation architecture as the infrastructure for privacy-preserving computation network and distributed economies.
Regarding the technical architecture, PlatON consists of the research and verification of basic cryptography algorithms, hardware acceleration, built-in algorithms, and the further technology framework based on the above technologies.
For privacy-preserving computation, we have Rosetta, a complete Privacy AI framework, while for as the infrastructure for distributed economies, we are the combination of blockchain and privacy-preserving computation, providing solutions including digital identity, KMS and on/off-chain privacy. Furthermore, we have data bank and applications in IoT, including Finance, healthcare, logistic, etc.
🌟 AMA
What are the Points for PlatON after QB Joined PlatON as a Validator?
James: As an open and transparent community, PlatON sincerely welcome all partners with different businesses and layouts to join the network building and ecosystem development of PlatON. QB has profound accumulations and operation experience in both traditional and emerging markets, I believe QB will bring us widen insights and deep analysis on the economic activities. We look forward to more sparks of ideas and a robust PlatON ecosystem with QB.
What’s the Further Commercial Layout of PlatON, Will You Consider the Payment for Financial Institutes?
James: As what we mentioned, blockchain is born to be the financial infrastructure, and PlatON is dedicated to being the infrastructure for privacy-preserving computation and distributed economies. Thus, most use cases of PlatON are in financial field. PlatON, empowered by privacy-preserving computation, and enhanced with blockchain, will renovate the traditional financial system and help upgrade it to be the next-generation clearing system, settlement system and payment settlement. With the joint effort of community, we can be a payment infrastructure for financial infrastructure.
What Possibilities will Be Bought in with the Collaboration between QB and PlatON?
Thomas: PlatON offered us a very good chance to join in the node building for the promising project, and witness the development of an emerging technology. We appreciate that. We will provide stable technical support and feedbacks for nodes. Later on, we will have a data collaboration based on Tokenview, and have a deep talk on data authorization, data exchange and data collaboration, to help facilitate PlatON’s commercial application at home and abroad using the strengthens of QB.
PlatON is Cautious and Serious when Choosing Partners, So, what are the Strengthens of QB?
James: QB team has years of experience in traditional private banking, and trading management on currency and derivatives. Meanwhile, QB recognizes the data privacy, and are familiar with the advantages of blockchain technologies and security. From the above, QB is a productive power in PlatON ecosystem, and we feel so lucky to reach a consensus with QB team.
Thomas: We’ve introduced the strengthens of QB before. In a word, QB is the combination of finance and security. Currently, both PlatON and QB mainly focus on the node verification and data collaboration. We appreciate the help from PlatON CEO Mr. Sun, CTO James and other friends in PlatON ecosystem. Btw, QB’s financial products is supported by BitCapital’s fund, which follows the regulation of England strictly. Financial risk control comes first for us.
