Linfinity Tokyo Roadshow: In-depth discussion about blockchain development and its applications with Linfinity
July 11, 2018 --
In-depth discussion about blockchain development and its applications with Linfinity in Tokyo
In a study by researchers from Penn State, including Veronica Villena, assistant professor of supply chain management, findings were published in a recent issue of Production and Operations Management indicating that trust reduces opportunistic behavior only when both sides have similar levels of trust. This trust equilibration is facilitated greatly with blockchain technology, with increased transparency and accountability.
Introducing Blockchain Technology
Throughout the numerous seminars and talks held, issues of transparency, efficiency, as well as security arose as primary topics, highlighting concerns shared by the leaders and representatives of the various participating companies. In his speech, “The Importance of Building Trust on the Supply Chain”, Linfinity CEO Anndy Lian spoke about the benefits of blockchain, which extend towards covering issues of trust within the supply chain, as well as alleviating the problem of current supply chain deficiencies.
Representatives from companies Befund and Qbao also stepped up to talk more about their companies. Liu Yu, the CSO of Befund spoke briefly on token economy, introducing his company as the first blockchain project in the world to enter the realm of security token, which he predicts will lead the next wave of Token economy.
Qbao Network co-founder & COO, Sun Ruoyu, shared more about his company during his own speech. In essence, Qbao Network is a multi functional digital currency wallet providing digital asset management, currency trading, as well as online and offline payments, amongst other digital financial services available to global users.
Centralized versus Decentralized wallets
One key focus that arose amidst the talks and discussions hosted by the roadshow was the safety and transparent decentralized wallets could bring to the supply chain. Linfinity CEO Anndy Lian spoke about the issue, stating that decentralized wallets is able to eradicated many common worries surrounding centralized wallets, including user privacy, security, as well as user transparency. Doubtless, the services and convenience offered by centralized wallets far outweigh those that decentralized wallets are able to offer. However, Lian believes that the rapid advancement of technology will make the improvement and convenience of digital wallets a certainty.
Liu Yu, CSO of Befund agreed with Lian’s point of view, suggesting that centralized wallets do bring with them several benefits and advantages with regards to simple user experience. However, the transparency and security risks posed by centralized wallets make them far too unstable to be relied on – if not now, then in the future.
Cryptocurrency is a system that will undoubtedly serve as an irreplaceable feature in our digital future and Yu believes that carrying on with the traditional centralized wallet system will bring along with many serious problems that can never be fully addressed properly. Qbao Network co-founder and COO Sun Ruoyi similarly pointed out that the concept of decentralized wallets, whereby users are have full access to their accounts as well as their own private key, is one which truly befits the spirit of blockchain. By using their own private keys to store assets on the chain, users may effectively avoid any risks of having their assets being tampered with by third parties – a problem that centralized wallets face problems insuring against.
Looking to the Future
Mr. Ito, CEO of Japan’s CoinOtaku, put forward his views with regards to centralized and decentralized systems as well, agreeing with the rest that centralized structures are easier for beginners to use and get used to. However, he also stated that “the introduction of decentralized blockchain system is inevitable” and though Ito admits that the system may not be at an optimal performance level as of yet, “it is very likely to be realized in the future”.
Singapore's BCoin CEO Davy Goh added that better service and higher efficiency are undoubtedly the hallmarks of centralization, and that they will welcome new policies on blockchain. He added “Most digital assets market players are embracing forthcoming legislations, however maybe the best legislation is no legislation. Let the digital asset market develops on its own.”
Closing up on the issue, Linfinity CEO Anndy Lian acknowledged the need to continue close supervision on blockchain technology, even as it progresses. “Tokens are an integral part of blockchain technology and we’ll need to continue monitoring its development. I believe governments do welcome blockchain technology, and that they want to prevent financial fraud and crime rather than taking a negative stance on blockchain.”
Lian also remains hopeful in both his business, as well as blockchain technology, stating that “2018 has been a key year for the application of blockchain, and it also puts forward a greater requirement for the blockchain industry”. Furthermore, he ensures greater care and safety to be expected in the future, stating that Linfinity always has and will adhere to the principle of stability. Combined with “leading blockchain technology” and “rich commercial resources”, Lian is certain that the company has what it takes to “drive its growth in the supply chain industry.”
About Linfinity Talk
Linfinity Talk is the roadshow brand of Linfinity, which aims to construct a blockchain resource sharing platform. Next, “Linfinity Talk” will continue its global roadshow, meeting with UK blockchain enthusiasts in London this August.Media Contact
Company Name: Global Linfinity Foundation LTD
Contact Person: Levy Han
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