The dark horses of the global blockchain technology circle gathered in Shanghai, and the Zhongtuobang demonstrated the strength of China

IBM, Accenture, Ujo Music, Imandra, Bubi, Zhongtuobang, DGX and other dark horses in the global mainstream blockchain technology circle recently gathered in Shanghai to share the feast of future development and practical application of blockchain.

On September 22, the "2016 Shanghai Blockchain International Week 'Global Blockchain Demo Day Project Display Day'" kicked off. The dark horses in the global technology circle competed to show the world's 25 most innovative blockchain start-ups and projects. As the first platform in the mutual aid insurance industry to implement blockchain applications, Zhongtuobang was particularly eye-catching at this Blockchain International Week.

It is reported that this event is jointly organized by Wanxiang Blockchain Lab and Blockchain Pencil. Demo Day aims to let more potential entrepreneurs who want to enter the blockchain industry understand the latest progress of global innovation and find local entrepreneurial opportunities. At the same time, it allows investment institutions and investors to get a close look at the main trends of blockchain entrepreneurial projects and find potential investment targets.

It is understood that blockchain refers to a technical solution that collectively maintains a reliable database in a decentralized and trustless manner. This technical solution allows any number of nodes participating in the system to calculate and record all information exchanges within the system over a period of time into a data block through cryptographic algorithms.

As an underlying technology, blockchain has derived different application cases according to different application scenarios. At this International Blockchain Week, innovative companies from all over the world have demonstrated the practical applications of blockchain in their respective industries.

Accenture: Will release blockchain editing technology

Accenture and a professor at Stevens Institute of Technology in New Jersey have jointly developed a new application for editing information using blockchain, and have applied for related patents in Europe and the U.S. The patent uses the "chameleon hash function" technology to add a locking mechanism between the elements of the blockchain, allowing administrators with keys to unlock and edit.

Imandra: Launches its smart contract formal verification platform for Ethereum. Imandra, a blockchain financial algorithm startup from the UK, has launched its smart contract formal verification platform for Ethereum. As systems and algorithms become more and more complex, it can use tools such as interactive verification to verify financial transactions.

Its founder, Dr. Grant Passmore, said: "Smart contracts are represented by Ethereum bytecode, and Imandra can prove the performance specifications of smart contracts. Imandra smart contracts have two levels of algorithmic analysis - the first is the high-level strategy layer, which is used to ensure the consistency of high-level contract specifications and designs. Before the contract runs, it will be converted into low-level bytecode. The second level of analysis belongs to the bytecode layer, which is used to analyze the bytecode actually executed in the blockchain."

Ujo Music: A purely commercial music platform based on blockchain is about to be released. Ujo Music is a blockchain startup founded in 2015. It has presented its blockchain music concept with other companies at the Berlin Music Festival in Germany. Its platform allows musicians to publish and manage their own music copyrights on the blockchain, obtain relevant income, and automatically distribute these incomes reasonably. It has been decided to build the platform into a purely commercial music platform.

Bubi Blockchain: Focusing on enterprise-level blockchain technology services

Bubi started to research blockchain technology in 2012, focusing on the innovation of blockchain technology and products. It has dozens of core patent technologies and developed a highly scalable and high-performance blockchain basic service platform, which has the ability to quickly build upper-layer application services to meet the needs of hundreds of millions of users. Bubi Blockchain has done in-depth reconstruction and optimization on the underlying blockchain. 95% of the underlying code was independently developed by the Bubi team, and several patents have been applied for it. In addition, Bubi has encapsulated an adaptation layer on the blockchain to facilitate enterprises in different industries to develop their own corresponding business systems based on this technology.

VeChain: China's first blockchain-based anti-counterfeiting platform

VeChain is committed to building China's first transparent supply chain platform based on blockchain technology. It will provide an open and transparent supply chain platform through which partner brands can register on the blockchain and publish their product information to the whole society, and manage the published products.

Zhongtuobang: The first mutual aid platform to apply blockchain technology

Since its official launch on July 1, Zhongtuobang has implemented blockchain applications on the platform. This is also the first platform in the mutual aid insurance industry to implement blockchain applications, which has brought a major breakthrough to the mutual aid insurance industry.

Since mutual assistance guarantees the scenario of "economic mutual assistance and risk sharing", and blockchain has the characteristics of decentralization, immutability, security and stability, it is naturally suitable for the application and development of blockchain.

At present, mutual aid is still a new thing in China. The public still lacks a comprehensive understanding of the mutual aid model and its core operation, and there are many concerns. The biggest problem of traditional mutual aid platforms is how to prove their fairness. For example, can the platform be trusted? Can the rescued be trusted? In fact, blockchain, as an important underlying technology for solving trust at present, has a huge driving role in solving this pain point of the mutual aid industry.

Traditional mutual aid platforms have always proven themselves to be innocent through public disclosure, bank trust, third-party audits, etc. However, due to the existence of a third party, trust is still questionable. At the same time, they also face potential credit risks such as cheating by system organizers and hackers tampering with data.

In the past, people were bound by the conventions of the membership system, but blockchain can realize the trust relationship between people, realizing the leap from trusting people to trusting technology. With the help of blockchain applications, Zhongtuobang has solved this problem in the field of mutual assistance, allowing members to truly trust each other instead of relying on trusting centralized organizations. Once the member information is written into the blockchain, even Zhongtuobang itself cannot tamper with the data. In this way, Zhongtuobang has obtained the most fair self-certification of trust.

Earlier, at the 2016 China (Shanghai) First Blockchain New Finance Summit Forum, Qiao Ke, founder and CEO of Zhongtuobang, said, "Zhongtuobang not only deeply applies blockchain, but also makes every user understand and perceive blockchain." A major breakthrough of Zhongtuobang is to visualize it. Every user can log in to the official website of Zhongtuobang, enter the "Blockchain Publicity" page, enter the user's own number to query the joining information on the blockchain. At the same time, the user's data can be seen at any time on the Zhongtuobang page. The real-time performance of being written into the blockchain.

As the first platform to implement blockchain technology in the mutual aid industry, Zhongtuobang uses the decentralized nature of blockchain to solve the trust problem. It combines blockchain's smart contracts with mutual aid rules to achieve automatic and autonomous execution of contracts reached between mutual aid members in a distributed system, thereby ensuring the fairness of the contract and greatly improving operational efficiency.