Zhipin Chain: First use the existing 1.2 million users to leverage the 100 million market and implement the project perfectly

Zhipinchain announced its product positioning at the Shanghai Blockchain International Summit on August 16 - an ecological blockchain serving the cultural and creative industry. Zhu Fei, the founder of Zhipinchain, said that unlike the previous concept of "sharing economy", the "sharing new economy" that Zhipinchain wants to create will meet three core essentials: peer-to-peer sharing, decentralized trust, and low-cost matchmaking transactions.

"The 'sharing economy' that is well known to people now, from the perspective of business model, whether it is shared bicycles or shared power banks, etc., is still through centralized aggregation of resources and then unified distribution. It is still a company that concentrates a large amount of resources and allows users to 'share'. Logically speaking, this has not jumped out of the thinking scope of the aggregate economy. The 'sharing new economy' advocated by Zhipin Chain is to create a decentralized sharing economy community, so that all idle resources can be spontaneously mobilized to seek matching."

Zhu Fei explained, “The core technology here is blockchain.”

The cultural and creative field has become its first test field. Zhu Fei believes that the core advantage of blockchain technology lies in its "unalterable" nature, which can provide a good technical foundation for copyright protection in the cultural and creative field and effectively reduce the information asymmetry problem between partners.

How does blockchain intervene in the new sharing economy?

The core of the so-called "sharing" is to activate the surplus capacity of idle resources and realize the exchange of resources, which should originally be a multi-subject, weakly centralized process. Blockchain advocates the concept of weak control, decentralization and qualification regional management, and the logic of the two coincides.

Zhu Fei believes that the reason why the sharing economy still relies on centralized paths and is difficult to flourish in a true "sharing" model is that an important pain point is the problem of information asymmetry, and the blockchain's "unalterable" and "coupled connection" technologies can effectively solve this pain point.

"Zeepin Chain needs to solve the trust problem of the shared chain on one hand, and simplify the cooperation process on the other hand." Zhu Fei said that Zeepin Chain has carried out a series of product development in the entire cultural and creative industry chain. According to the "ZEEPIN CHAIN ​​Zhipin Chain Decentralized Sharing New Economy White Paper", the underlying system of Zeepin Chain has been developed. In addition, ZEECreate for practitioners in the cultural and creative field is already in the operation stage; ZeeCampus for parks has signed contracts with 150 cultural and creative parks; ZeeRights for intellectual property rights confirmation, tracing and trading has also been developed and is in the internal testing stage; ZeeSure, a product that can achieve offline copyright protection, has signed contracts with two insurance institutions; and Zeepin Wallet is in internal testing.

The development and launch of these products means that in the ecosystem of Zhipin Chain, copyright can be protected once it is registered. At the same time, each participating entity will receive the FA credit score of the virtual team ZeeCrew. These functions will effectively reduce the information asymmetry problem between shared entities.

Yang Xinle, the chief architect of the Zhipin Chain team, has 18 years of work experience in Silicon Valley and holds a number of blockchain patent certificates. He told reporters that Zhipin Chain's consensus mechanism adopts the PBFT optimization solution and adopts a layered design in architectural design to support decentralized digital transactions, access and process control.

"Zeepin Token (ZPT), as a token of Zhipin Chain, is the infrastructure of the decentralized community. It is not only a practical token for project crowdfunding, but also a credit asset used to support fairness, efficiency, security, and the establishment of a decentralized community." Yang Xinle said, "In this blockchain industry ecosystem, the global surplus capacity can be matched in a decentralized and intermediary-free manner, including the surplus time of creators, the surplus capacity of manufacturers, the surplus performance venues, etc. Any organization or individual, including creators, manufacturers or channel merchants, can initiate projects in the community or form a centralized autonomous team to achieve profitability. Coin holders can use ZPT to invest in crowdfunding projects you are interested in to speed up their progress. When the project starts to make a profit, you can get token returns according to the reward mechanism of the decentralized community. ZPT can be circulated as a token in the community. Zhipin Chain supports tens of thousands of concurrent transactions, and the final confirmation speed of 5 to 10 seconds for transactions helps to quickly execute and confirm transactions, while supporting national encryption."

It is understood that the ICO of Zeepin Chain will be carried out simultaneously on the official website of zeepin.io and the officially designated crowdfunding platform. The token during the ICO period is Zeepin Token, referred to as ZPT (ZPT), and the initial issuance of ZPT is 1 billion. From 20:00 on September 11, 2017 (Beijing time) to 20:00 on October 15, 2017 (Beijing time), 40% (400 million) of the total ZPT will be released in 35 days.

Digging Deeply into the Value Depression of Cultural and Creative Industries

Zhu Fei told reporters that the main reason for choosing the cultural and creative industry as the first focus is the industry attributes of the cultural and creative field itself.

"The cultural and creative industry has several attributes that other economic industries do not have: high added value, low resource consumption, low environmental pollution, and great demand potential. Therefore, it has become an industry that many government agencies are working hard to support. But at the same time, due to the large number of links involved and the scattered types, many projects often fall into the dilemma of 'knowing is easy but doing is difficult'."

Zhu Fei said, "For example, you have a good design, but if you really want to implement this design into a physical mug or pillow, there is a complex production and distribution chain in the middle. Under the Zhipin Chain model, it will be much easier to find cooperation: A provides creativity, B provides production, and C is responsible for sales channels. Each party can choose a partner based on the ratings given by ZEECrew. This rating system is an immutable data formed by blockchain technology, and there will be no problem of modifying word-of-mouth data like other review tools on the market. When everyone invests in cooperation and generates real profits, they can share the profits in the form of Zhipin coins."

On the Zhipin Chain, we-media practitioners, novelists and other cultural and creative industry professionals can find publishers and distributors around the world through the Zhipin Community, form an economy, and initiate crowdfunding ZPT for publishing projects; bands can find performance venues through the community, form an economy and pre-sell performance tickets, etc.; medium-sized manufacturers can concentrate on the high-quality copyrights of creators, drive excess production capacity, manufacture consumer goods, and sell them through channel merchants in the autonomous community. Currently, 1.2 million creative people have participated in the ecology of the Zhipin Chain.

In addition, Zhipin Chain has also received venue and resource support from more than 150 creative parks around the world.

"Based on the same logic, in the ecosystem of Zhipin Chain, the incubation function of the park has also been upgraded. Under the scoring system of Zhipin Chain, when enterprises enter the park, the trust issues of both parties are well resolved, and the process can be simplified. In the future, it may be as simple for enterprises to enter the park as finding a parking space." Zhu Fei introduced, "When the park provides incubation services for enterprises, the payment of rent and the participation of venture capital can also be in the form of Zhipin coins."

At the same time, Zhu Fei admitted that there is still a huge amount of demand waiting to be tapped in the market, but user education takes time. "After all, for most users and merchants, blockchain is still a relatively new concept, but it can be seen that the potential market demand is far beyond imagination."

"From what we know now, the local government is very open to this innovation." Zhu Fei explained that in recent years, with the continuous deepening of capacity upgrading, many industrial cities are facing tremendous pressure for urban transformation, which is a major opportunity for the cultural and creative industry. "Take Tangshan as an example. Everyone still understands Tangshan as an industrial center, but in fact, Tangshan's bone porcelain was once famous all over the world, but very few people know this. Now the Tangshan government is very interested in our technology. They have a very complete production industry chain in bone porcelain manufacturers. If they can connect with external designers, channel merchants, and distributors from all over the country through Zhipin Chain, it will undoubtedly be a good thing for Tangshan's industrial transformation and the shaping of a new city image."

Zhu Fei said that this set of product development and system design logic can not only be extended to different cities, but also be applicable to various fields. "The modular applications on Zhipin Chain will also be applicable to other industrial projects. Ultimately, Zhipin Chain will be a highly inclusive decentralized community that can maximize the sharing of any surplus value." Zhu Fei said.

Pre-ICO

It will be launched on Zeepin Foundation’s official website Zeepin.io