Author: ultiledger

After nearly three months of projects screening, it has traveled through seven major cities in Shenzhen, Beijing, Shanghai, Chengdu, Guangzhou, Suzhou and Hangzhou. After 18 roadshows, the Win-Win Chain Information Technology emerged from 219 projects and got to the final competition with dozens of other outstanding projects on 30th August. The founder of Win-Win Chain Information Technology Tommy Xu is also the Ultiledger Co-Founder and COO. His wonderful sharing has been unanimously recognized by the main judges. Win-win Chain Information Technology as the only blockchain project won the second place in the innovation group, Ultiledger, the next generation global self-financing blockchain protocol has caused the hottest focus of the main judges, investment institutions and participants of the competition.

About the contest

The innovative Nanshan “Entrepreneur Star” contest was hosted by Shenzhen Nanshan District People’s Government and Shenzhen Science and Technology Innovation Committee. Since its inception in 2008, it has attracted many innovative companies and entrepreneurial teams from home and abroad. In the past 10 years, there have been 14358 innovative projects signed up for competition (including 1886 overseas projects), 237 innovative companies, and 246 start-up teams, which cultivated a batch of unicorn companies and listed companies, such as DJI Innovation, Obi Zhongguang, Maoshuo Power, Jinxinnuo, Shenghong Electric, Youboxun, etc.

Ultiledger and the Win-Win Chain

Ultiledger, the next generation of global self-financing blockchain protocol aims to achieve the “self-financing” capability of the economy through the technology empowerment method, thereby enjoying the dividends brought by technological progress and making the technology equal rights and inclusive finance become the basic reality of social universality.

Ultiledger was founded by Randolf Liang, the blockchain senior technology geek and the founding initiator of the world’s largest Ripple and Stellar community Ripplefox. Randolf Liang united and gathered a large number of blockchain technology geeks around the world, adhering to the concept of “changing the world by technology-driven and technological empowerment is equal and universal.” In the process of serving the financial supply projects of several listed companies, continuously completing the concept of technology and the realization of technology, and finally achieving the entrepreneurial idea of the Ultiledger public chain platform.

As an important landing scene of Ultiledger, the Win-Win Chain Information Technology was jointly initiated by Tommy Xu, Randlof Liang, Wang Hui and Scott Xu. It was registered in September 2017 and officially opened in November. In ten months, they have reached cooperation and landed with several listed companies such as Chain Xingbeiyun, the Daoen Group and the 365 Group.

Ultiledger blockchain public chain platform, firstly gathering the talents, secondly having practice of landing, and then building the platform universally serving more self-economy models, is a typical “bottom-up” mode blockchain application project. It is the real landing blockchain project, which has the ability to achieve the value creation.

What is self-financing?

After the sharing session of the Win-Win Chain, many of the main judges expressed interest in “self-financing” and discussed with Tommy Xu.

“Self-financing” is essentially a subversion of traditional indirect finance-oriented financial services. In the future, with the advancement of the Ultiledger platform, a large number of self-employed economies have self-solving their own development problems of information flow and value transfer through “self-financing”. And also reduce need of indirect finance to the minimum.

In the future, “self-financing” will become a universal, mainstream and basic form of financial services, and Ultiledger’s value increment will show exponential growth, and the final result will be “self-financing” oriented, direct financial and indirect finance as a secondary supporting financial services providing the hierarchy and structure. And it will also reduce the cost of society and improve the efficiency of the self-economy, so that the economic value increment brought to society will also be limitless.

Jed McCaleb is the co-founder and CTO of Stellar, prior to co-founding Stellar, he founded and served as the CTO of the company Ripple, and he is also the founder of eDonkey, the author and main developer of the software for all versions of eDonkey. eDonkey was one of the largest file-sharing networks in the world at the time, and Jed was also known as the “father of eDonkey” by eDonkey enthusiasts and e-Mule enthusiasts.

JedMcCaleb was born in a single-parent family, which is located in a small town in Arkansas, USA. The first time he connected to programming was in elementary school grade 3 and grade 4, which changed his life path.

In 1994, Jed McCaleb was admitted to the prestigious Berkeley University, but dropped out after a year. Dropping out of school is an extremely bold decision for most college students. Even if you drop out of school, you will think about a way out or a job, but Jed did not worry about his job at the time. Instead, he was confident. He believed that he could support himself with his excellent programming skills.

“If you go all out to study, you will find the real fun of every discipline, and it will help you better understand the world. I’m so fascinated with programming not because programming itself is more interesting than other disciplines, but because of my thought about programming which can provide me with more leverage to understand the world than any other discipline. You can use a computer program to better perceive the world,” Jed said.

Jed McCaleb and eDonkey

In 1998, Jed went to New York to prepare for the eDonkey. Before, he spent about half a year writing an eDonkey computer program in San Francisco. In the face of the emerging P2P applications, Jed has created a number of innovations. The eDonkey allows users to download files to multiple users at the same time; in addition, the client can share any file and is not limited to music files. Users can also create collections to collect and share multiple files. They can freely search the shared files, which connect to the network. There is a unique identity between the clients; there is no single central server on the server. Anyone can set up his or her own server. The servers can be connected to each other to form a huge “multi-centralized” network. By 2005, the eDonkey had surpassed the BitTorrent network and ranked to the first traffic using, accounting for 51% of the file exchange traffic.

The rapid development of eDonkey caused a serious trouble for itself. In 2006, eDonkey incurred a copyright lawsuit. The eDonkey did not respond, but chose to pay 30 million US dollars and stop the continued development of the eDonkey.

In 2010, he founded an online game company, which was very popular with users, but ultimately failed because it did not open the market and did not accumulate enough users. During the time, Jed came into contact with Bitcoin. “Some people on BitcoinTalk put white papers on FlashDown, and there were about 2,000 people, including me, read the white paper for the first time on FlashDown,” Jed said. He said he has always had a strong interest in using distributed technology to solve problems, and the white paper was just talking about such a solution. With that feeling, Jed began to become associated with Bitcoin, and later joined the blockchain industry.

Bitcoin, Ripple and Stellar

Shortly after Jed entered the field of bitcoin, he quickly discovered a pain point – a lack of trading mechanism. At the time, Jed wanted to have some bitcoin, but he found that he had no other way than to be a “miner.” However, it was costly to be a miner but to ensure a certain amount of computing power. Then, in the words of Jed, he “smoothly” established Mt.Gox, an exchange that allows people to buy and sell Bitcoin. That was in July 2011. For him, it was technically not a problem, but it solved a big pain point in the industry, which made it possible for Bitcoin to spread in a wider range. But such a company that solved many people’s problems, Jed changed hands after less than half a year of creation.

For Jed, he hopes to enhance our lives through continuous technological innovation and gain a sense of accomplishment.

As bitcoin matures, the potential of its underlying technology blockchain was increasingly valued. Jed was also aware that the distributed technology concept of the blockchain can be used to solve real-world problems. Jed didn’t want to invest in mining to get bitcoin, he chose to use technology to solve the problem.

So in 2012, he founded Ripple. An open payment network based on distributed financial technology. This facilitates the payment and exchange for the users around the world. In fact, our existing financial system was repaired in the financial system of the 1960s. If the Internet realizes the sharing of information, then Ripple realizes the transfer and sharing of value to some extent. Through Ripple, the international payment process is greatly simplified and the costs are reduced. For Jed, the significance of the birth of Ripple is to establish an integrated payment platform on the Internet and realize the Internet of money.

However, the beautiful ideas and scenes once lost to reality. As the founder and CTO, Jed later invited Chris Larsen to serve as the company’s CEO. But soon the two had a major difference on many issues, and the Jed left Ripple at last. Later, he founded Stellar in 2014. Even in the eyes of many insiders, Stellar and Ripple are very similar. Jed agreeed with this, but he pointed out a few differences: First, the management models are different. Stellar is actually not-for-profit; second, Ripple’s tokens are in the hands of Ripple’s issuers, while Stellar’s tokens are user-oriented; in the end, the market expansion path is different. Jed said that Ripple is more served to big banks, and Stellar is more focused on grassroots users or startups. “It’s not that serving the big banks are wrong, but we think that our services will be better practiced in small companies first.” Finally, Jed thinks that technically Stellar is more reliable because “we rewrote the Source code.

Regarding the prospects of the blockchain industry, Jed believes that blockchain is a new technology that will have a big impact on our lives. “The blockchain may bring innovations to many areas, but not all industries are suitable for blockchain technology. Now, we are all using blockchains to try out various applications. Maybe a few years later, we will have a better understanding of the scenarios that apply to blockchains,” Jed said. “At least for now, blockchains are more suitable for scenarios that require multiple parties to coordinate, rather than a small range of scenarios, because in such scenarios, you only need one database.”

Just as the rise of the underlying Internet-based technology has spawned Internet giants such as China’s BAT and Google. When it comes to blockchain, Jed also believes that industry giants based on blockchain technology may be born in the future. Jed said it is difficult to predict how long such companies will emerge.

“But the beauty of the blockchain lies in its open source. I think that even if a giant company based on blockchain technology is born in the future, such a company should not monopolize the blockchain,” Jed said.

Jed McCaleb and Randolf Liang

Ultiledger founder Randolf Liang began to focus on the blockchain in 2012 and started to blockchain coding in 2013. Randolf Liang was very interested in the blockchain as it was a new technology. He wanted to prove some of his ideas in practice and he often communicated with some geeks online.

Randolf Liang knew Jed in 2014. At that time, they often discussed technical issues through the Internet, so the Ripplefox community was formed, and more and more geeks joined in. Ripplefox has been in operation for more than four years, bringing together more than 20,000 blockchain developers and enthusiasts around the world. It is also the largest Ripple and Stellar gateway in China and has been operating quite successfully.

“Jed is a legend. In addition to being the founder of Ripple and Stellar, he is also the founder of eDonkey. His enjoys a high reputation in the industry. I met Jed in 2014, we often discussed the technical issues together, and Jed wanted to go to Africa to promote the blockchain project. I said to him that, “Why don’t you come to China? China has a large population and many enterprises. The market demand is much larger than that of Africa. You can reach a wider population when you come to China.” “Jed didn’t know much about China before. Later I introduced him to China for a visit. In 2016, I invited him to come to Shanghai to participate in a blockchain summit. I believed that Jed as a big bull in the industry, he can push the development of China’s blockchain technology further. And it was true that Ripple and Stellar have developed well in China,” Randolf Liang said.

In 2016, Randolf Liang invited him to come to Shanghai, China to participate in a blockchain summit. After that, Jed has a deep impression with China.

In the process of creating and operating Ripplefox, Randolf Liang explored a lot of technical talents, and also discovered a lot of actual demanders, and they have made some practical attempts together, which are all very successful. Also in this process, community members have suggested and encouraged Randolf Liang to develop a new project, the next generation of global self-financing blockchain protocol.

“We did a lot of preparation and spent a lot of time developing, so we have Ultiledger today. The community is very meaningful for the blockchain project. With Ripplefox, the development of Ultiledger can be accomplished twice as much with half the effort. The existence of Ripplefox gives the positive feedback of Ultiledger’s ecology at least half a year ahead of schedule, and this advantage is not available in many blockchain projects.” Randolf Liang said.

 

On August 23, Ultiledger held the first offline Meetup in Shenzhen. The event attracted more than 20 members of the Ultiledger community across the country to participate. At the beginning of the event, the video of Ultiledger team was first played to the public. The Founder of Ultiledger Randolf and the Co-Founder and COO Tommy Xu introduced the whole team and Ultiledger’s ecological scene, business model and the differentiation with other blockchain projects to the community.

At the end of the event, Ultiledger founder Randolf expressed his personal opinion on the development of the blockchain industry: the current development of the blockchain has its inevitability. Perhaps it is not sound enough and mature enough, but it is undeniable that the blockchain will have an impact that cannot be underestimated in the economic and financial field and all aspects of our future life. In the future, “self-financing” will become a universal, mainstream and basic form of financial services, and Ultiledger’s value increment will show exponential growth, and the final result will be “self-financing”, direct financial and Indirect finance provides a hierarchy and structure for supporting financial services, and the cost of society and the efficiency of the economy will also have a significant increase, so that the economic value will be limitless to the society.

In the future, with the continuous maturity of Ultiledger’s public chain technology, more and more landing application scenarios will be happened, and the progress of application landing is closely related to the construction of the blockchain community. Based on the Ultiledger main chain and the open platform, and combined with global development co-builders, Ultiledger will build a sustainable blockchain community ecosystem.

Members of the Ultiledger community are welcome to launch the offline Meetup event, and maybe the next event will be able to discuss the Ultiledger eco-community building face-to-face with Randolf. Also welcome new members to join the Ultiledger community, now you can find us in the following ways.

Website：www.ultiledger.io

Twitter: https://twitter.com/Ultiledgerio

Telegram：https://t.me/ultiledger

Website：www.ultiledger.io

Twitter：https://twitter.com/Ultiledgerio

Telegram： https://t.me/ultiledger

 

Recently, Ultiledger has raised nearly 10 million XLMs in Stellar.

“Token transfer in Stellar is fast and low-cost, and it is more convenient than Ethereum. But the business environment of Ethereum is better, so Ultiledger will be raised together on Stellar and Ethereum. In the future, I hope more projects will be carried out on Stellar.” ——The founder of Ultiledger, Randolf, expressed his opinion.

Enterprises as an important active subject in our social and economic life have become the core backbone of our service in real life because of their own characteristics, for-profit organizations, the pursuit of value maximization and sustainable development. The birth of social for-profit enterprises in the early days (born in the modern European Netherlands and the global colonial tide), have taken the tasks of seeking for the wealth and improving the quality of life on a better organizational form for the country citizens of the early development countries, including the Netherlands, the United Kingdom and other modern countries.

Enterprises as an economy, a comprehensive economic activity engaged in daily value creation in economic and social life plays an important role in the satisfaction of people’s social life. In addition to self-effort, its own development needs more help of external leverage, where finance is one of the most common models.

The earliest company in the world was born in the Dutch exploration of overseas colonies, at that time, the funding needs of more expedition merchant ships. When the first merchant ship team was about to set out to explore the new colonies in North America, they raised funds to ordinary citizens, the Amsterdam mayor’s maid is also involved, they invested the money in this innovative practice of changing the world and the history, by becoming the shareholders of the East India Company, and they have gained more economic returns, also left a great reputation in history.

This kind of “inclusive finance”, which we see today, is similar to the “crowdfunding” type of equity investment, which has supported the global colonial wave of Western capitalist countries, set off a global geography and economic discovery, and brought the value-added track to the human society’s wealth resources.

 

When the Western countries’ conducted the global colonization which caused many criminal acts of killing and looting. At the same time, objectively, the advanced civilization achievements of the time have been brought to all corners of the world and promote the development of modern civilization in the world. And the direct investment from ordinary public investors has created economic results by the agents, is the most universal “direct financial” model.

And this model of the original starting point and more “inclusive finance” model were appeared. With time passing by, more company organizations have established, and they need more organization and fundraising tasks, the former technical conditions, information development level, the personnel organization model has been unable to adapt to the incremental fundraising needs of corporate organizations, thus the professional financial services institutions were born.

Various financial service organizations were born immediately and banks are the represented type in the financial intermediation business. From the very beginning, the investment bank that helped enterprises to raise funds for external financing was born, and then the savings bank (commercial bank) for the public was derived. They have led to the rapid rise and growth of modern financial services institutions, which in fact gave birth to the “indirect finance” model.

The system of the economy represented by this financial service enterprise has developed into a secondary financial market such as a stock exchange and has become a huge financial service system, and provides financial services for various types of economies in society.

With the birth of more enterprises, especially oligopolistic enterprises, the scale of the economic volume of a single enterprise has been the size of a country’s economy, such as the current market value of Apple. Exceeding many economies outside the national economy that have removed several head sizes, these economies have more demands for financial services, from simple financing needs, to the preservation and appreciation of funds, related credit authorizations, etc.

The demand for full financial services and the larger size of the volume, allows these large enterprises to have the “self-financing” ability, a company with the role of “internal bank”, which has led to the multiplication of the performance of more large enterprises, We can see from the surface, such as the strategic acquisition of some large enterprises in the capital market, for the venture capital of emerging enterprises, they own “factory company”, “small loan company”, “insurance company”, “business paper company”, etc. are the concrete manifestations of the “self-financing” function of large enterprises.

The reason why these large enterprises have the “self-financing” ability is their own economic volume has reached a certain scale and has stronger ability to resist risks. On the other hand, most of their own businesses have internal and external transparency, information transparency and the organization of the public economy after the open market IPO, so that it can obtain a credit basis through information transparency.

What is even more secret is that these large enterprises have strong internal IT technology support capabilities, have internal information and resource transfer efficiency, automation, intelligence, and can have strong risk control capabilities, and also allow these enterprises “self-financing” capability has the underlying technical support.

Nowadays, enterprises active in the economic society enjoy various types of financial services, which can be roughly divided into three categories: indirect financial systems led by commercial banks, direct financial systems dominated by investment banks, and “self-financing” system dominated by Internet finance. “Indirect finance, direct finance, and self-financing” have become the three basic forms of financial services and social economy.

In the seemingly comprehensive and healthy development of the financial service system, three types of financial services serve today’s core economies. However, some of the core active forces created by society, small and medium-sized enterprises are unable to be cost-effective and universal to enjoy these financial services for many reasons as each form of service has its own limitations.

Investment banking in direct finance, which also serves large-scale financial demand projects, high service costs make small businesses self-defeating, while some small VC funds invest in early-stage entrepreneurial projects are small-scale and lack sustainability.

Various commercial banks in indirect finance, due to their own profitability requirements, will choose economies with larger economies to provide larger-scale financial services to increase profitability and reduce risks. However, self-financing is only the patent of head enterprises of the core entities in the whole social and economic activities. The general enterprises do not have the conditions for implementing self-financing, the high internal business transformation system, the strong credit endorsement institutions, the low-cost business processes and the supply chain management information transparent settings, etc., all of these make SMEs’ self-financing become an unattainable dream.

However, with the advancement of Internet technology, it has been very helpful in technology upgrades to change internal business processes and improve the free flow of information, capital, logistics, etc. between enterprises and society, and it is low-cost and efficient. At the same time, scientific and technological progress has promoted the development of the financial industry itself, including financial innovation models such as crowdfunding, digital currency, P2P, consumer finance, etc., and has also made financial technology increasingly affect and change the current economic and social life.

Advances in technology and financial technology have led to low-cost and high-efficiency means, it makes financial services that were once unusable for universal use, including “self-financing” services, have the opportunity to be used universally, especially the birth of blockchain technology and financial empowerment economies have brought “Inclusive Technology” and “Inclusive Finance” to the dawn of reality.

The upgrade of financial technology comes from the consensus algorithm based on blockchain technology, decentralized distributed storage, and the token economic model, especially the upgrading of credit technology to financial technology, has brought new technology thinking and methods upgrading. Changing the possibility of traditional market problems, a truly inclusive financial reform, let technology and “financial credit” empower the economy and achieve the equal rights movement of science and technology and “financial credit”. The evolution and transformation of “Self-financing 2.0” will also be on the historical stage.

The future has sprouted and it has become history yesterday.

The current blockchain entrepreneurship has become a hot topic in the speed of lightning. In a short time, the blockchain entrepreneurial heat has experienced several important development stages.

Among them, the first stage is the geeks who have the “creation dream”, complete the vision of the great consensus, and show their core achievements to the world, such as the white paper of the father of Bitcoin, Nakamoto. The peer-to-peer electronic cash system proposes the features of blockchain technology, distributed storage, consensus algorithms, encryption technology, decentralization features, etc., it makes digital currency hot again, the discussion of decentralized payment and financial systems has begun.

On the basis, the technology geeks, such as Vitalik Buterin, open a wider application based on blockchain technology, the birth of Ethereum made more people saw their opportunities, not just the opportunity to buy a few bitcoins, but a batch of entrepreneurial projects based on the Ethereum smart contract system have quickly came out, more dreams of changing the world were implemented by more people.

In the second stage, there are more speculators who are active in the market. After encountering development bottlenecks in their business models and failing to achieve sustained and stable profitability, they will begin to look for the next cusp and concept, such as various types funds, various types of MLM organizations, various types of “crowdfunding” concepts and “P2P” concepts, these people have discovered new opportunities for blockchain waves with a sense of touch, especially the role of ICO as a tool.

As a result, various kinds of air currency projects have begun to enter the “bubble period” of blockchain entrepreneurship, the so-called “Great Leap Forward” mode, the birth of a variety of “coin circle, no brothers, only joint harvesting”, It also allows the public to show their life in a short period of time. The escaping of the air project, the activists’ defense and poison drinking have made the ICO Utopia and the blockchain utopia.

At the same time, a large number of media report a blockchain bubble, but also leave a brief description of the words at the end of the text. For example, professionals say that the blockchain bubble will quickly return to rationality after an instant burst. It is a good thing to really doubt the people who are engaged in blockchain entrepreneurship and the real value of the blockchain, and their projects will continue to emerge in the post-bubble era.

Other good quality medias report the group of eager talents, they are pushing the blockchain entrepreneurship into the third stage, that is, the real value creation and landing practice, changing the stage of real life, from the bottom up, a blockchain application revolution is taking root in the earth, creating a strong contrast with the air project floating in the air.

Judging whether a blockchain entrepreneurial project is a third-stage application project, there are roughly several criteria for judging.

The first is the technical ability of the team, whether it has a physical technical team, and having independent research and development capabilities is the primary premise. If you only change the code by technology outsourcing, you can only make one air project；

Secondly, it has a minimalized implementation of the closed loop, and has a successful application case. Otherwise, even if it is not an air project, the team will not run away, but it will face great risks due to the difficulty of the implementation of the technology.

Finally, there is a problem-solving ability for painful needs, an integrated solution, with the ability to truly empower incremental value, rather than simply changing the logic of a center to make money.

To determine whether it is Utopia’s blockchain project with such standards will lead you to a real value project, take the recent Ultiledger project as an example.

In terms of technical ability, Ultiledger was initiated by the technical geek Randolf Liang. Once as an engineer in China’s early blockchain technology, he launched the largest RippleFox community in China in 2014, and gathered a group of geeks and industry well-known people through community communication and interaction. And ripple is currently the world’s third largest digital currency, stellar is beyond Eos to become the fifth largest digital currency, the two founder is the father of American electric elder Jed McCaleb, who was first introduced to China by Randolf Liang. In 2015, Randolf Liang joined the Wanxiang Blockchain Lab and participated in the writing of the first blockchain application and development white paper of the Ministry of Industry and Information Technology. He was also one of the authors of the Chinaledger white paper. Received the title of blockchain system test expert issued by the Ministry of Industry and Information Technology, Ultiledger core technical team comes from this largest community, from Ant Financial, SAP China Research Institute, US State Street Bank, Ningbo Bank Head Office, Hikvision, etc. At present, there is a super-technical expert from the Hong Kong Stock Exchange, Tao Zuo, who is the former mainland general manger of Hong Kong Technology Centre of the Hong Kong Stock Exchange and the chief architect of Dalian Commodity Exchange, he is all in Ultiledger.

In terms of landing, Randolf and his team have helped large enterprises realize the application of supply chain finance in the process of making alliance chain by using stellar, greatly reducing financial costs and helping core enterprises to carry out supply chain management. Reduce the rigid debt, and at the same time more directly help small and medium-sized micro-supplier companies solve the difficult problem of difficult financing, landing on Saturday (002291), Daon Shares (002838), and currently having deep communication with Geely Automobile, Chery Automobile and BYD, the team also spent 2 months helping the national intellectual property center Zhuhai Hengqin Qiqinwan Intellectual Property Center to land on the copyright-related chain transaction.

Because of the successful implementation of the specific landing project, it actually supported the Ultiledger team to think deeply about finding a common method to solve more common needs of the enterprise, and finally realized the idea of the Ultiledger ecology.

In terms of business model, Ultiledger, as a new generation of “self-financing” blockchain protocol, realizes the empowerment of enterprise technology through blockchain technology, enabling enterprises to easily realize the optimization of business process data and flow according to the value in business processes. Demand, matching the internal “pass-token”, realizing the internal value transfer from the economy, possessing “self-financial” capabilities, and leveraging the credit agreements and technical capabilities provided by the Ultiledger platform to asset their physical and virtual assets. The securitization work and circulation on the open platform to realize the “self-finance” ability represented by “self-financing” is the best solution to solve the development dilemma of the current small and medium-sized industrial enterprises.

The blockchain ICO has cut the leek, let more people think that the blockchain is a bubble, and the dream of changing the world envisioned by the technology geeks will soon vanish. However, the real ambitious group have just entered the public eye and started to truly change the world.

Blockchain is not a utopia, it is not a problem; it is just an argument. This argument is also the best driving force for the blockchain to break through the bubble.