“Star Talk from ULT Community” is a live broadcast section initiated by the ULT community. We focus on the real value of the blockchain. The ULT community hopes to connect more people and things and witness the real value of the blockchain.
The frist guest is Ultiledger’s founder Randolf Liang: Asset circulation should be efficient, Stimulating self-finance with blockchain Technology. At last, ULT Community members have good feedbacks, Randolf Liang’s sharing helps them to know Ultiledger well.
The following is the review of “Star Talk from ULT Community” Vol.1:
Moderator: Welcome, Ultiledger’s founder Liang Ran! say hello to everyone!
Liang Ran: Hello everyone, I am Liang Ran. Generally, For the first time, I will give you a live broadcast. I want to talk to you about this live broadcast: What is self-finance, and why do we have to do it? Since the financial chain. You may often hear the word “finance”, knowing that finance is making money, but you don’t know what direct finance, indirect finance and self-finance. So today I will explain it first. For example, the earliest we actually exchanged goods for exchange, which also produced financial demand, and later produced a credit currency, and finally produced financial services. Up to now, financial services have matured. So, what is direct finance? For example, direct investment, I control the equity of your company, this is direct finance. Indirect finance needs to be implemented by institutions such as intermediate commercial banks. The two forms of financial services, direct finance and indirect finance, are also the most mature, but they also bring a problem. For example, in the current listed companies, we will find that financial institutions earn most of the profits of the entity. Failure to help our society improve overall efficiency, but it hinders efficiency. Since finance does not require external institutions to provide services, it relies on the financial properties of the ecology to transfer, to help the ecological development. Of course, as a large enterprise, in addition to self-finance, you can also use the services of other financial institutions, but since financial can be a favorable supplement, our Ultiledger and ULT can help enterprises, business circles, organizations, etc. The function of finance helps the development of ecology. Not coming from finance will become a form of financial services for inclusive finance. The value and increment of our Ultiledger will also grow exponentially, because there will be more and more organizations, even individuals, who put their financial credits, assets, and values, and ultimately not only people who use Ultiledger. The value and ecology can be improved. Ultiledger is a value transfer station, and its value will be greatly improved, which will reflect the value to ULT. Therefore, I conclude: Since the financial sector is a blue ocean, there is not much public chain involved, we can be said to be the leader in the blockchain. We will use our strengths in this aspect to help companies and individuals grow their value. In the process, our own value will also grow exponentially. The above is my sharing.
Moderator: Thank you for the wonderful sharing of Liang Station. Before the live broadcast, we also collected questions from some members in the community and selected five questions that everyone is most concerned about. Please ask Randolf to answer them one by one. The first question: What are the landing scenarios in the financial ecology? Which type of company can be naturally combined?
Liang Ran: The most obvious landing from finance should be a large-scale enterprise. In fact, I have just said that enterprises, organizations and individuals can do their own finance, but at present I think that large and medium-sized enterprises are the most suitable and manufacturing enterprises. Companies with a particularly long supply chain are suitable, such as cars, appliances, and mobile phones. In the current economic situation, the manufacturing industry is actually very hard. The period for suppliers to pay back after the supply is very long, and this year is longer than last year. Some have to wait a few months to get it, and it is more likely to take a few months of business tickets. One to two, half a year has passed, and it is very likely that they will not be available for one year. What to do, go to private lending? Go to the bank for discount? As I said earlier, direct finance and indirect finance can provide services, but they take away profits. SMEs are even more upset, and banks only make big orders. For example, one million must be fully discounted. One sticker is half a year. SMEs can’t say anything hard, which is a manifestation of financing difficulties and expensive financing. So, if you use self-finance? We let the core enterprises not open the trade ticket, use the blockchain to open the voucher, and use multiple parties to confirm the rights. Then we can use the solution we provide, which can be split in time and amount. For example, the supplier can only pay 200,000 yuan for two months to pay. You will find that this set is more convenient, faster, and the profit is left in the ecosystem. Everyone benefits, because the cost is saved and not sucked.
Moderator: Thank you for your answer. The second question: How to determine whether a company can transform and upgrade its business through self-finance?
Liang Ran: Ultiledger can solve the problem of financing and financing difficulties for SMEs. If your company needs to deal with friends, and there is a gap in funds in the middle, and then have a strong credit endorsement, you can use credit to fill in the blanks, reduce friction and improve efficiency and profit. For example, I said that the large-scale manufacturing industry is actually because this is the ecology around the core enterprises, so the core enterprises have the strongest credit, and the core enterprises use credit to issue the vouchers on the blockchain. But it can also be extended to a small and medium-sized business district. Multiple parties can issue certificates together. Multiple companies can also contact each other. As long as there is credit, such as a good credit company, credit can be used to generate assets. certificate. This is the chain of credit and assets, an organization can also, a department of a large enterprise can also. As long as everyone has this demand for value transfer, they can do it from finance. It is nothing more than a big or small problem from finance. Since the financial is big, you can use a whole set of programs. If you are small, you can use your mobile app to send your own assets.
Moderator: Ok, we know that next month is the 1st anniversary of Ultiledger. The third question is: Is there any good news?
Liang Ran: Yes, on the one hand, it is technical, our development is working hard, and we will soon be able to produce results. On the other hand, we are partners. We not only have partners in the supply chain, but also partners in big data risk control. I believe that the value we create will be reflected in the market.
Moderator: Ok, thank you. Just now we mentioned that there will be some good news release in technology. Then our fourth question is: How is the development of Ultiledger’s main Chain?
Liang Ran: The development is very smooth. At present, I am doing test and documentation work, and I will show you the right time. You can guess when.
Moderator: It seems that it is still very mysterious. The news that the central bank will launch digital currency recently triggered some questions from members, that is, the fifth question: The recent news about the issuance of digital currency by the People’s Bank of China has been confirmed. What are the plans for future compliance in China?
Liang Ran: First of all, the news of the central bank issuing digital currency is very good, and it is the name of the blockchain technology. Because the value chain of the blockchain is one of the most important functions, there is no reason not to use it. We can say that we are using the blockchain to do value transfer. Compliance is definitely in line with national requirements. The enterprise is completely self-financing, and the evidence found is based on the invoice. For example, it is issued by a licensed factoring company, and the financial assistance to small and medium-sized enterprises solves the problem of financing difficulties and financing. This is a matter for the country and the people. We also have strong legal staff to help. In fact, we have already landed many companies. We are practitioners. We chose a track that belongs to us (self-finance), we are not afraid of competition in other public chains, so we are on a track that is both compliant and advantageous. Please cheer for us.
Moderator: Thank you for answering. At the same time as the live broadcast, there are several new questions in the ULT community. What should I do if one of the supply chain financial chains runs?
Liang Ran: This supply chain finance is very long. The chain is a link. A credit is fundamental. Especially in supply chain finance, the issued certificate is actually the certificate of the core enterprise. We only need to peg the credit. The only thing that can be produced is that we only have to peg the core company. For example, we require them to issue invoices before they can issue certificates. In fact, this reliability is already very high. In the process of our issuance, we can not only the core company is required to confirm, and it can also request the supplier to receive the accounts payable to confirm. It can also require the funder, the factoring company, and the technical party to participate in the confirmation. The confirmation result of this multi-party consensus is very reliable. Originally a person or a few people, you can change the voucher, open a fake invoice, use the blockchain system, this situation cannot happen, so the blockchain system makes the original supply chain financial system the overall safety and convenience have been increased by an order of magnitude, and the risk of running is greatly reduced. Of course, if you say that there is a one percent chance of running, this is possible, but back to this point, we are confirmed by many parties. As long as one point is not opened, the whole system will know, so that Exposing the risk ahead of time, so I think that the use of Ultiledger’s solution on the supply chain financial system actually improves the overall security. As for the one percent risk, you don’t need the supply chain system, you use other the way can’t stop it. At this time, we have to rely on the after-the-fact punishment mechanism, such as the court to deal with, and at this time, the supply chain system because of the blockchain system, we can also provide strong evidence to deal with.
Moderator: Thank you, I think there are members who are asking: Where is the money from in self-finance ecology?
Liang Ran: This is a very good question. It seems to be listening to the concept of direct finance, indirect finance and self-finance that I said at the beginning. Where does the money from finance come from? Our Ultiledger has a slogan: value circulation, that is, letting assets circulate, letting credit flow, and finally achieving value circulation. This money from finance is actually credit. We know that direct financial financing is directly to the money, may be mortgaged with equity, indirect finance is mortgage to borrow money, then financial can be done according to your credit. For example, instead of an entity, you are an order, such as your invoice, your inventory in the warehouse, which can be relied upon. Of course, we can also mortgage our assets. As long as our relevant partners recognize that your credit is valuable and that your assets are valuable, then I can generate it as a voucher on the blockchain. Of course, depending on his credit, I may generate different qualities, and then through a licensed factoring company, I can recognize your value and discount it to you. The most interesting point is that this factoring company is actually provided by various parties in the ecology. For example, the core enterprise suppliers, even using personal money to put in, then this is actually more in line with financial the ecology, the real money you provide, can correspond to the credit and assets in your ecology.
Moderator: Thank you, new questions from the community: Is a strong credit endorsement a guarantee?
Liang Ran: No, for example, I use my own value to endorse this. If you go outside, this multi-party consensus mechanism needs to be recognized by many parties. For example, the supplier will recognize the core company’s accounts payable, then this in fact, it is a credit. Of course, if this core company is willing to find other companies to endorse, there is a guarantee that it can strengthen his credit. But if this credit is enough, at least I have already left a mark on the blockchain. For example, in the supply chain finance provided by Ultiledger, every time there is a flow, there will be traces on it, and all of them will be in the case of uploading evidence such as contracts, in this case, we believe that such credits are already ok, there is no need for guarantees in the case of credit, and there is also a mortgage of direct assets, which does not require Guaranteed.
Moderator: Ok, understand, there is another member who wants to ask what is the contracted company of Ultiledger?
Liang Ran: There are still quite a lot of Successful Cases. In the case of contracting, we actually need a company’s main body to Achieve cooperation, so we have an ecological partner, which is Shenzhen’s win-win chain information technology. Through this partner, we have reached the INFINITUS, this is a BIG company, it has a very large number of members, and covers a lot of its suppliers. We also landed the listed company’s Saturday shoe industry. For example, it can provide a list of suppliers that provide it with cowhide, soles, and rubber. Our system of supply chain is called a chain list. The assets issued on the chain, we call it a chain list. Using this chain, the core company can pay the accounts payable as a voucher to the following suppliers. The first-tier supplier can continue to transfer to the second-tier supplier, and the second-tier supplier can then transfer to the third-tier supplier. Interesting Yes, we found out at the end that it was opened to Level 4 and Level 5, and then the accounts payable just expired, which perfectly solved the gap in this fund. In addition, we also have shares like Dawn Group, which is a case of cooperation in the chemical industry, as well as a similar government project, a property exchange, Hengqin Intellectual Property Exchange. We have other similar government projects, such as the Daqing City Government, who want to be a government corporate finance platform. In the future, we will have more cooperative enterprises and cases, let us rest assured that we are still very leading in the industry.
Moderator: Ok, today we have learned a lot about financial information, and once again thank for Randolf’s sharing. Today’s live broadcast is coming to an end. thank you!Thank you for your support of the first phase of the “U Community Star Dialogue”. We will continue to update it in the future, and explain and share industry information for the ULT community partners.
Ultilegder, the Next Generation Global Self-financing Blockchain Protocol, an open source protocol initiated by a number of IT technology geeks, gets a high-level consensus and co-governance from the communities. Ultiledger aims to build an economic and financial ecosystem based on token ULT to help any organization (contains government, business, industry clusters or individuals and communities) that needs to build trust at a low cost and rapid construction of a distributed financial book and account system of bank-grade security; zero-cost transaction settlement within the ecosystem; improved security, privacy, efficiency and capital availability of the system through the combination of the main chain and sub-chains. In the Ultiledger ecosystem, any tangible assets, data or intangible rights can be written on blockchain to become a string of code to achieve assets and data tokenization, and to use smart contracts and distributed storage for completing functions such as confirmation, notarization, trading, circulation, etc., and finally achieving “credit circulation, asset circulation, value circulation” in the algorithm world.