With 3 million RMB in financing, Yunxiang Blockchain accelerates the application of alliance chain and private chain

On July 12, 2016, Yunxiang Blockchain received RMB 3 million in angel round financing from Hangzhou Linchao Asset Management Co., Ltd. It is understood that Hangzhou Linchao Asset Management Co., Ltd. had already made a round of investment in Yunxiang Blockchain in early 2016. Huang Butian, the founder of Yunxiang Blockchain, revealed that "Hangzhou Linchao Asset Management Co., Ltd. and Yunxiang not only cooperate on the capital level, but also provide a lot of resources to promote the smooth implementation of some application scenarios."

Relying on Zhejiang University, we have strong technical research and development capabilities

Hangzhou Yunxiang Network Technology Co., Ltd. was established in August 2014. Its Yunxiang Blockchain is an enterprise service application that focuses on providing business intelligent contract applications such as identity authentication, electronic evidence preservation, supply chain management, product traceability, etc. for enterprise-level B-side customers. It also provides secure and low-deployment-cost blockchain database products for industry private chain applications.

Yunxiang Blockchain relies on InCAS-lab, the Intelligent Computing and System Laboratory of Zhejiang University, with Professor He Qinming as the technical consultant, and cooperates with the Mobile Development Joint Laboratory of Zhejiang University City College to promote the rapid maturity of the enterprise-level alliance chain technology platform. It is an early practitioner in the field of blockchain technology research and application in China.

Huang Butian introduced the original intention of Yunxiang Blockchain, "The team began to explore the underlying technology of blockchain in 2012 and has been thinking about starting a business in the blockchain field. The characteristics of blockchain itself can solve some existing credit problems and promote the information Internet to the value Internet. It is also a very sentimental thing to engage in entrepreneurship in this field."

Since the development of blockchain, there has been no shortage of blockchain development platforms for enterprise services. Compared with other similar companies, Yunxiang's advantage lies in its R&D capabilities for core blockchain technologies. The team members are doctors and masters from Zhejiang University and have strong technical research and development capabilities.

Among them, Dr. Huang Butian proposed a technical roadmap for the development of alliance chain based on the community and actual application scenarios. Architect Wang Yunxiao built a Byzantine fault-tolerant consensus algorithm applied to alliance chain. Dr. Liu Zhenguang built a complete set of security audit methods and trusted data mining strategies. Dr. Wang Bei built a credit chain architecture design method based on blockchain technology. Architect Mao Daoming built a blockchain BaaS platform based on distributed service governance architecture. Architect Zhang Weisai designed a smart contract editor that supports online editing.

Therefore, Yunxiang is able to create a unique blockchain ecosystem based on technical capabilities + external resources, platform + developers, BaaS + enterprise services.

Enterprise-level blockchain technology platform service provider, promoting alliance chain and private chain applications

In the past year, private chains, alliance chains, and public chains have become hot topics in the blockchain field. At present, financial institutions and enterprises tend to prefer private chains or alliance chains. Compared with public chains, private chains are easier to modify rules when necessary, have cheaper transaction costs, are more convenient to connect nodes, and are easier to protect privacy.

Huang Butian revealed that the reason for choosing alliance chain and private chain to start a business is "mainly because the actual application scenarios in China tend to be weakly centralized. The application model of blockchain technology will be easier to implement in the field of weak regulation. The reason why we position Yunxiang as an enterprise-level blockchain technology platform service provider. First, like the traditional Bitcoin blockchain network, it is an unrestricted public chain, but it cannot be implemented in the actual scenario in China; second, in the field of weak regulation and emerging industries, there are many application scenarios for alliance chains or private chains."

As an enterprise-level blockchain technology platform service provider, what is the biggest difficulty in connecting technology with real-world scenarios? Huang Butian believes that "the biggest difficulty is the design of application scenarios. We must avoid the phenomenon of using blockchain technology for the sake of technology, and should actually think from the perspective of whether the business itself needs blockchain technology to solve business pain points."

As an enterprise-level service provider, Yunxiang is in the process of negotiating relevant cooperation and will promote the implementation of blockchain technology in the application scenarios of judicial electronic evidence storage, traffic identity verification, digital copyright, and personal credit reporting in the near future.