Anndy Lian believes DeFi will also result in more and more bitcoins being locked up, “which will bring another bull market for bitcoin.”

Anndy Lian’s comments were featured on CryptoNews on 27 September 2020. He believes that DeFi will also result in more and more bitcoins being locked up, “which will bring another bull market for bitcoin.”

“This inter-related relationship between Bitcoin and Defi works hand in hand with the demand as seen in the market. The breakout trend in Defi for 2020 will continue. New terms will supersede “Yield Farming”  and a more stable environment will be established as you see the bigger exchanges like Binance, Gemini, Huobi and Okex taking the lead.” Anndy Lian added.

Read more about the article on Google News:

https://news.google.com/articles/CAIiEGyo6SpEJbiRN5EMTwYXqjoqMwgEKioIACIQOG0vTzP65T11pGTnFueHJCoUCAoiEDhtL08z-uU9daRk5xbnhyQwg7vbBg?hl=en-SG&gl=SG&ceid=SG%3Aen

 

 

 

‘If DeFi Collapsed, Bitcoin Would Still Be Bitcoin’

 

  • The core driver of DeFi is its use case, not Bitcoin.
  • “BTC is money, DeFi is banks, that’s how people should think about it.”
‘If DeFi Collapsed, Bitcoin Would Still Be Bitcoin’ 101
Source: Adobe/golibtolibov

Bitcoin (BTC) and DeFi both had a good summer. After the coronavirus-induced collapse of March, the price of bitcoin rose from USD 3,500 to just over USD 12,000 in August, while the total value locked into DeFi platforms rose from USD 1bn in June to almost USD 12bn in late September.

It’s tempting to view the performances of bitcoin and DeFi as connected. Given that the supply of wrapped bitcoin has ballooned from wBTC 500 to almost wBTC 90,000 in the past 12 months, it would seem that bitcoin holders have been driving the growth of DeFi.

However, industry figures speaking to Cryptonews.com said that, while BTC has been a significant player in DeFi’s growth, its importance within the DeFi ecosystem will wane over time. And while some may be tempted to regard Bitcoin and DeFi as interdependent, most commenters believe that each can survive without the other.

Bitcoin boosts DeFi

There’s little doubt that bitcoin — and in particular wrapped bitcoin — has spurred at least a portion of DeFi’s impressive growth over the past few months – USD 1.4bn worth of BTC is locked in DeFi today, or almost 13% of total value locked (TVL) in decentralized finance projects.

As data from Defi Pulse indicates, the demand for wBTC began rising exponentially from the end of June onwards.

‘If DeFi Collapsed, Bitcoin Would Still Be Bitcoin’ 102
Source: defipulse.com

And data also indicates, it was around the end of June that TVL into DeFi platforms suddenly began rising more strongly, as ethereum (ETH) locked in DeFi jumped also this past summer.

‘If DeFi Collapsed, Bitcoin Would Still Be Bitcoin’ 103
Source: defipulse.com

Industry figures agree that the two trends are connected, even if they have their own opinions on how long the interconnection may continue.

“Yes, I think the use of wBTC pair mining will boost the Defi market to a certain extent,” said crypto advisor and author Anndy Lian.

“According to the data released today (the second day of Uniswap Liquidity Mining), 50% of the miners used the wBTC/ETH pair in the initial mining, and most of them are big whales.”

Analyst and CryptoMondays Partner Lou Kerner suggested that bitcoin will remain an important part of DeFi in the medium term, not least because it still accounts for over half of the total value of all cryptoassets.

“Given its scale, bitcoin will be an increasingly significant asset in DeFi. But over time, as real world assets are tokenized and enter DeFi, bitcoin relevance will decrease,” he told Cryptonews.com.

However, while BTC has played a role in DeFi’s recent growth, ADVFN CEO Clem Chambers doesn’t see it as the main factor.

“Bitcoin will influence DeFi but it is not the core driver. The core driver is the powerful use case,” he said.

DeFi boosts BTC

Conversely, commenters agree that DeFi is boosting BTC, or that it will in the near future. By offering the chance to earn an additional return on the bitcoin you own, DeFi’s liquidity mining and yield farming is making BTC seem even more attractive to investors, particularly during a period of reduced economic opportunity.

“DeFi has made BTC even more attractive as an investment,” according to Kerner.

That said, Chambers estimated that most of DeFi’s boost to BTC still awaits us in the future.

“It will [boost bitcoin] but not yet. DeFi is still underground with only the core early adopters ‘getting it’,” he said.

Aside from enhancing the returns offered by bitcoin, Anndy Liang pointed out that DeFi will also result in more and more bitcoins being locked up, “which will bring another bull market for bitcoin.”

Mutual aid, not mutual interdependence

While DeFi and bitcoin both help each other in various ways, commentators seem that they don’t believe that each needs the other to survive.

“Bitcoin crashing would certainly slow the growth of DeFi, but one is not dependent on the other,” said Kerner.

Likewise, if DeFi were to somehow collapse, Interlapse CEO and Co-founder Wayne Chen said that BTC would continue as before.

 

“Bitcoin has seen massive growth over the past decade and will certainly continue its momentum,” he told Cryptonews.com. “If DeFi collapsed, Bitcoin would still be Bitcoin and continue its growth and adoption.”

On the other hand, some think that bitcoin crashing would have a severe effect on DeFi, since even if parts of the DeFi ecosystem survived, altcoins would struggle.

“Most of the ‘value’ coins will go to zero if the price of bitcoin crashed significantly or collapsed,” suggested Lian. “One thing is for sure: no coin (maybe tiny s***coins can) can survive if bitcoin collapses.”

The future: parallel, not pivotal

As for the more distant future, some experts believe that DeFi and Bitcoin will increasingly operate in parallel, rather than remain interlinked.

“BTC is money, DeFi is banks, that’s how people should think about it. The linkage is parallel not pivotal,” argued Chambers.

Chen claims that it’s in the interests of DeFi and Bitcoin that each maintains a degree of independence from the other in the future.

“Industry professionals will likely try to interrelate DeFi and Bitcoin. However, this needs to be done cautiously so that it doesn’t turn into a complicated financial product which can ultimately confuse the market,” he said.

Anndy Lian isn’t completely sure that DeFi will be around in several years’ time. However, if it is, he said there’s a chance other cryptoassets could emerge to reduce BTC’s influence on DeFi.

“But personally I do hope to see new players coming into challenge Bitcoin’s supremacy,” he said. “With challenges, there are improvements. This is what’s lacking in today’s crypto space.”

 

 

Original Source: https://cryptonews.com/exclusives/if-defi-collapsed-bitcoin-would-still-be-bitcoin-7827.htm

 

 

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Anndy Lian Shares “Ethereum Will Remain The Dominant DeFi Platform: Analyst Opinion”

Thanks CoinGenius for covering my comments made in the earlier article on DeFi and Ethereum.


Ethereum Will Remain The Dominant DeFi Platform: Analyst Opinion

Ethereum will remain the dominant Defi platform despite the attempts of other blockchains such as TRON and EOS of trying to catch up. Most of the total value locked into DeFi is locked in Ethereum based platforms and it seems that things are going to stay this way as per the Ethereum latest news.

The industry observers believe that Ethereum will remain the dominant Defi platform because the growth among Defi enabling blockchains will come from other network effects as well as utility and capacity. With Ethereum boasting the first-mover advantage and the rapidly growing, it will be the best place to be for DeFi. ETH is by far the most dominant blockchain according to the data from the DeFi pulse, accounting for 90% and 99% of the total value locked in DeFi platforms. Looking at the data, all of the 36 Defi platforms are based on ETH and out of the 4 billion now locked into these 36 platforms.

According to industry observers, this dominance will come not so much from ETH being superior but from it being the first platform to move and gain a decent base. According to Anndy Lian, the Singapore-based crypto advisor:

 “Ethereum has the first-mover advantage, as it has had at previous times in crypto history, from taking the lead in ICOs [initial coin offerings] and smart contracts and now DeFi.”

Lian noted that Ethereum has the biggest market cap in crypto and is one of the best testing platforms for the industry so if it cannot make Defi work, no one can. A spokesperson for the Maker Foundation said that Ethereum’s current success lies with the fact that it was able to build upon the activity on the blockchain which attracts even more users and more activity:

 “Scope, size and amount of activity on Ethereum are critical factors driving the DeFi ecosystem.”

The Maker Foundation spokesperson suggested that other blockchains that can interoperate with the build on top of ETH have the chance of expanding their market share:

 “Chains that can easily integrate or build across Ethereum should be able to take advantage of that activity and grow with it by providing scale for DeFi apps.”

The market shares of EOS and TRON will go upwards in the upcoming months as per the EOS newsletter and Anndy Lian isn’t sure how fast this growth will be:

 “The market share is starting to spread but it will be slow. Ethereum will take the lead till 2021 on DeFi while the rest are playing catch up.”

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

 

Source: https://coingenius.news/ethereum-will-remain-the-dominant-defi-platform-analyst-opinion/

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Anndy Lian on CryptoNews: Ethereum Won’t Give Its USD 4bn DeFi Throne to EOS, Tron Anytime Soon

Quoted by Anndy Lian

“Ethereum has the first-mover advantage, as it has had at previous times in crypto history, from taking the lead in ICOs [initial coin offerings] and smart contracts and now DeFi,” said Anndy Lian, a Singapore-based cryptoasset advisor and author.

Lian also noted that Ethereum has the second biggest market capitalization in crypto and is “one of the best testing beds for the industry. If ETH cannot make DeFi work, no one else can.”

 

Ethereum will likely continue to dominate DeFi in the future, yet other blockchains will play a role. The thing is, just how big and sustainable will the DeFi sector really be?

“If the current players create a proper environment and follow some form of governance, DeFi will grow stronger in the next 2 years time,” predicted Anndy Lian. “But if everyone is trying to get short term gains and every project trying to become ‘DeFi’, then this crazy period will just be a shorter ICO-like run.”

 

——–

Ethereum Won’t Give Its USD 4bn DeFi Throne to EOS, Tron Anytime Soon

Source: Adobe/mnimage

Most of the total value locked (TVL) into DeFi (decentralized finance) is locked into Ethereum (ETH)-based platforms, and in the short term, it seems like things are going to stay this way.

As for the longer term, industry observers told Cryptonews.com that Ethereum will remain the dominant DeFi platform, even if other blockchains – such as EOS and Tron (TRX) – will catch up to an extent.

This is because growth among DeFi-enabling blockchains will come from network effects as much as technological utility and capacity. And with Ethereum boasting the first-mover advantage and a rapidly growing, most likely, it will be the ‘place to be’ for DeFi.

The king network rules DeFi

Ethereum is by far and away the dominant DeFi blockchain. Taking data from DeFi Pulse and DeFi.Review, it would seem that it accounts for 90%-99% of the total value locked into DeFi platforms.

Looking at DeFi Pulse, all but one of the 36 DeFi platforms it tracks are based on Ethereum (the other one is Bitcoin (BTC)). Of the USD 4 billion currently locked into these 36 platforms, all but USD 11.5 million of this total is on Ethereum.

Ethereum Won't Give Its USD 4bn DeFi Throne to EOS, Tron Anytime Soon 102
Source: defipulse.com

DeFi.Review tells a very similar story: only four of the 26 DeFi platforms it tracks are not on Ethereum. These four – EOS, Tron, Bitcoin, and WaykiChain (WICC) – account for almost 10% of the TVL (USD 3bn) tracked by Defi.Review.

Why is Ethereum so dominant? According to industry observers, this dominance comes not so much from Ethereum being technically superior, but from it being the first to move and the first to gain a sizable base.

“Ethereum has the first-mover advantage, as it has had at previous times in crypto history, from taking the lead in ICOs [initial coin offerings] and smart contracts and now DeFi,” said Anndy Lian, a Singapore-based cryptoasset advisor and author.

Lian also noted that Ethereum has the second biggest market capitalization in crypto and is “one of the best testing beds for the industry. If ETH cannot make DeFi work, no one else can.”

Figures working within DeFi take a similar view. A spokesperson for the Maker Foundation told Cryptonews.com that Ethereum’s current success lies largely with the fact that it was able to quickly build up DeFi activity on its blockchain, something which attracts more users and more activity in turn.

“Scope, size and amount of activity on Ethereum are critical factors driving the DeFi ecosystem,” they said.

Maker (MKR) now leads DeFi by TVL, with more than USD 1.2bn locked.

A chance for expansion

The Maker Foundation’s spokesperson suggested that blockchains that can interoperate with or build on top of Ethereum may have a chance of expanding their market shares.

“Chains that can easily integrate or build across Ethereum should be able to take advantage of that activity and grow with it by providing scale for DeFi apps,” they said.

On the other hand, the Maker Foundation isn’t entirely confident that the DeFi market share of such chains can be substantial.

“Many of these exist today, but usage indicates that the DeFi market is currently prioritizing activity over efficiency or transaction costs.”

In other words, the DeFi prize will go to the blockchain that can command the biggest network effects. This is Ethereum, and it’s likely to remain Ethereum, even if other blockchains such as Tron and EOS increase their respective shares.

These two blockchains are certainly trying to eat into Ethereum’s dominance.

Early in July, Tron founder Justin Sun announced the launch of three Tron DeFi projects, including a “JUST Lend” credit platform. Meanwhile, EOS announced the launch of the xNation platform in April, working in partnership with Bancor (BNT).

“The market share is starting to spread but it will be slow,” he said. “Ethereum will take the lead till 2021 on DeFi while the rest are playing catch up.”

The impact of Ethereum 2.0

The transition to Ethereum 2.0 – and to a proof-of-stake consensus mechanism – may enhance Ethereum’s dominance of DeFi even further. A 66% majority of polled Ethereum holders are planning to stake their coins in the network once it shifts to proof-of-stake, potentially increasing demand for the kinds of steady returns DeFi can provide.

“When ETH goes into its full scaling mode, this will create another wave,” said Anndy Lian, who predicted a boost to DeFi from Ethereum 2.0.

The Maker Foundation also expects proof-of-stake to boost Ethereum-based DeFi. Although it estimates that the biggest boosts to DeFi’s potential scale will come from interoperability and integration between blockchains, implying that there’s space for other blockchains to grow their market shares.

“While Ethererum 2.0 should bring greater efficiency, it will likely fall on apps to find scale by integrating across chains.”

Ethereum will likely continue to dominate DeFi in the future, yet other blockchains will play a role. The thing is, just how big and sustainable will the DeFi sector really be?

“If the current players create a proper environment and follow some form of governance, DeFi will grow stronger in the next 2 years time,” predicted Anndy Lian. “But if everyone is trying to get short term gains and every project trying to become ‘DeFi’, then this crazy period will just be a shorter ICO-like run.”

 

Source: https://cryptonews.com/exclusives/ethereum-won-t-give-its-usd-4bn-defi-throne-to-eos-tron-anyt-7301.htm

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Anndy Lian Speaks for China-ASEAN Business Alliance Series: Overcoming COVID19 – Commercializing Blockchain in ASEAN

Anndy Lian will be the moderator for the second CABA Series virtual event with the theme ‘Overcoming Covid-19 Commercialising Blockchain in ASEAN’ this coming. He will share insights on what is the blockchain industry like right now and what should be expected in the future. Blockchain technology has grown at a fast rate in the last 3 years. Blockchain solutions are available, ready to use and are poised to revolutionise how business, government and academia tackle issues for the future. With its ability to create transparency and fairness and saving businesses time and money, the technology has impacted a variety of industries. COVID19 crisis has revealed a general lack of connectivity and data exchange built into our global supply chains. Future resiliency will depend on building transparent, inter-operable and connective networks. This is where Blockchain comes into place.

At this 3-hour virtual session, we will give an overview of the blockchain industry, regulations and some promising areas that should look in the near future.

The event will be on 30 June 2020, 10:00am – 1:00pm. Book your complimentary ticket now.

Blockchain Regulatory Framework
Tan Chong Huat, Senior Partner of RHTLaw Asia LLP

– Blockchain Regulatory Framework in Asia, Europe and America – A comparison
– Law & Practice in Singapore
– MAS Regulatory Framework
– Why Regulatory Framework is important for Blockchain

Tokenisation of Real Estate
Jayaprakash Jagateesan CEO of RHT Fintech Holdings Pte Ltd

– Understanding the exciting possibilities offered by the tokenization of real estate assets;
– Fractionalisation of real estate assets – what it means to investors and asset owners to split the ownership through the issuance of digital securitised tokens;
– Using Distributed Ledger Technology to register ownership and tracking trades in a regulated market

Panel Discussion
Future Trends: What should we look out for?

Tan Chong Huat, Senior Partner of RHTLaw Asia LLP
Jayaprakash Jagateesan CEO of RHT Fintech Holdings Pte Ltd
Anndy Lian, Chairman (Asia) of Decent Foundation
Dominic Morris, Chief Technology Officer of SDAX

About China-ASEAN Business Alliance (CABA)

China-ASEAN Business Alliance (CABA)’s core team are well-connected ASEAN-China experts who will able to provide customised Management/Consultancy services for the CABA members who require more than introduction and networking opportunities with other businesses and trade promotion agencies.

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Anndy Lian Will Speak at World Blockchain STO Summit 2020 in Singapore

Anndy Lian, inter-governmental blockchain Advisor and book author of Blockchain Revolution 2030 will speak at the World Blockchain STO Summit 2020 in Singapore.

The summit will be joined by blockchain experts and investors from around the world, who will be bringing their insights to explain why everyone from local , state and international governments to the UN, IMF and Global Fortune 500 companies are investing billions into this new “internet 3.0” known as blockchain technology. This event will bring together companies looking to do security token offerings with investors and with STO exchanges and solution providers who can assist in running STOs. World Blockchain STO Summit is going to be one of the most important conferences dedicated to innovative technologies in the region, bringing together the public sector, political decision-makers, Investors, developers, researchers, global entrepreneurs, leaders and innovators.

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ABC NEWS- Anndy Lian: Regulations for blockchain and crypto market will bring positive impact to the market

Anndy Lian, blockchain advisor for Inter-Governmental agency and book author of “Blockchain Revolution 2030” sees that regulation for the blockchain and crypto market will bring positive impact to the markets.

Anndy is the moderator at the Biki Korea Investment Insights event held on 2 October 2019. He is joined by distinguished panelists: Ethan Ng – CEO, BiKi Southeast Asia, Joony Koo – Founding member, BlockCrafters, Fred Kim – Partner, Rocketfuel, Steve Lee – Head of Asia, BlockTower Capital, Jackson Ra – Head of Advisory, Chain Partners, Christine Choi – Cofunder, BlockPatch and KJ Ha – Principal, Blockwater Management. The panel discussed about the latest in crypto investments and what to look out for in 2020.

”I believe that regulators must develop deeper understandings of blockchain technology and its potential impact as they continue to engage in forming the regulatory framework. With sufficient help from the government, it will bring more confidence for people to understand and use blockchain beyond the knowledge of bitcoin. Regulated digital assets exchange will be the way forward and it can create positive impacts to the existing markets,” shared Anndy Lian.

Steve Lee from BlockTower Capital also echoed similar views: “I believe that everyone in the industry now hope to see more regulations created. Regulations will eventually make the industry better. Korea is already working on this and we will see the outcomes in time to come.”

This event coincides with the Korea Blockchain Week 2019 and also part of Biki’s World Tour to promote their business. ”I am happy to see old and new friends at this event. Despite the rainy weather, we still have a full house of audiences. I am grateful to all our supporters in Korea,” Ethan Ng told Blockcast.cc Reporter, Joann Park at the event.

Biki Exchange is the rising star and one of the most talked about exchange in 2019. They are ranked Top 20 in the world currently and is building a very strong business proposition with their network and global communities. Biki will continue their efforts in Korea and will be back very soon to share more updates with their community.

Media Contact
Company Name: Blockcast.cc
Contact Person: Jenny Zheng
Email: Send Email
Phone: +65 98832707
Country: South Korea
Website: https://www.blockcast.cc

Source: https://www.abc6.com/story/41151502/anndy-lian-regulations-for-blockchain-and-crypto-market-will-bring-positive-impact-to-the-market

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Anndy Lian: Regulations for blockchain and crypto market will bring positive impact to the market

Anndy Lian, blockchain advisor for Inter-Governmental agency and book author of “Blockchain Revolution 2030” sees that regulation for the blockchain and crypto market will bring positive impact to the markets.

Anndy is the moderator at the Biki Korea Investment Insights event held on 2 October 2019. He is joined by distinguished panelists: Ethan Ng – CEO, BiKi Southeast Asia, Joony Koo – Founding member, BlockCrafters, Fred Kim – Partner, Rocketfuel, Steve Lee – Head of Asia, BlockTower Capital and KJ Ha – Principal, Blockwater Management. The panel discussed about the latest in crypto investments and what to look out for in 2020.

”I believe that regulators must develop deeper understandings of blockchain technology and its potential impact as they continue to engage in forming the regulatory framework. With sufficient help from the government, it will bring more confidence for people to understand and use blockchain beyond the knowledge of bitcoin. Regulated digital assets exchange will be the way forward and it can create positive impacts to the existing markets” shared Anndy Lian.

Steve Lee from BlockTower Capital also echoed similar views: “ I believe that everyone in the industry now hope to see more regulations created. Regulations will eventually make the industry better. Korea is already working on this and we will see the outcomes in time to come.”

This event coincides with the Korea Blockchain Week 2019 and also part of Biki’s World Tour to promote their business. ”I am happy to see old and new friends at this event. Despite the rainy weather, we still have a full house of audiences. I am grateful to all our supporters in Korea.” Ethan Ng told Blockcast.cc Reporter, Joann Park at the event.

Biki Exchange is the rising star and one of the most talked about exchange in 2019. They are ranked Top 20 in the world currently and is building a very strong business proposition with their network and global communities. Biki will continue their efforts in Korea and will be back very soon to share more updates with their community.

 

Media Contacts

Company: Blockcast.cc
Contact Person: Jenny Zheng
Contact Number: +65 9883 2707
Contact Email: contact@blockcast.cc
Location: South Korea
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Anndy Lian: Linfinity will be the Backbone of Reshaping Supply Chain Ecology

The block chain is about to bring about an unprecedented industrial revolution. All this is attributed to the distributed and decentralized storage mode and strong storage capacity of the block chain for the network. With this advantage, it can provide enterprises or organizations with better quality services, such as improving efficiency, making information transparent, and strengthening network security. According to a study by Juniper Research, more than two-thirds of enterprises expressed their willingness to introduce block chain technology, which is also an unprecedented new user connection method.

Linfinity, born in Singapore, is a pioneer in integrating block chain technology with the cross-border supply chain industry, aiming at establishing a reliable and traceable anti-counterfeiting supply chain solution through block chain technology. It not only reduces the cost of supply chain management, but also increases the safety of commodity circulation. Through different applications in different industries, Linfinity saw the huge potential implied by the block chain in various industries, such as food industry, fast moving consumer goods industry, and even financial market.

Recently, in an exclusive interview with Singapore’s 938Now radio – block chain series, Anndy Lian, CEO of Linfinity, expressed a series of insightful views on Linfinity’s focus on applying block chain technology to the supply chain industry.

What role does Linfinity play in the logistics industry?  

In the logistics industry, Linfinity focuses on the entire supply chain system. At present, Linfinity is working hard to build an ecosystem that organically combines block chains with traditional logistics. In this system, we can easily check the specific conditions such as raw material supply, logistics, distribution, etc.  Not only that, Linfinity also touched on other aspects. Recently, Linfinity Talk in South Korea also talked about the important role Linfinity plays in supply chain material recovery. In addition, we are also interested in integrating block chains with different industries or organizations, such as banks and financial institutions.

What role does Linfinity play? Is the supply chain managed by the participating companies themselves, or is it managed by Linfinity?

At present, Linfinity mainly has the following two modes in the commercial application cooperation of the block chain:

1. Linfinity assists them in onchain management until they can run independently or builds ecology together with them;

2. If the other party has its own block chain, the information on these chains will become very private, and Linfinity will graft the information on these chains to Linfinity’s own block chain for use by the other party.

Is Linfinity a provider of block chain technology solutions? Are there any other partners?

Yes, Linfinity is a pioneer in providing block chain technology solutions. as far as I know, we may be the first in the industry now, but I believe there will be more partners in this industry to promote the vigorous development of this industry. This is the “way” of the block chain industry.

How to improve the transparency of end customer information through block chain technology and Linfinity ecology?

If you look at a specific industry, such as cosmetics industry, from product production to store terminals, all links in the entire supply chain are quite complicated and complicated, so it is very difficult to change the entire industry chain. We have found a common pain point in the cosmetics industry – “fake goods are rampant”, especially for some famous brands, the resulting social impact is fatal.

This is a very serious problem. If all the product data are centrally stored according to the traditional supply chain system, this structure is very vulnerable to hacker attacks, such as adjusting the production date, etc. The use of decentralized block chain technology makes it necessary for each data node to authenticate each other so as to ensure the genuine attributes of the product identity.

Linfinity focuses on these pain points and proposes a series of solutions to the cosmetic industry. First, reduce the anti-counterfeiting cost; second, use the block chain to enhance the brand image.

Based on block chain technology, product information becomes more transparent, thus achieving the purpose of tracking and anti-counterfeiting. This will be a “trust ecology” built by merchants and consumers. It has better brand consensus and better user experience.

Does the appearance of Linfinity mean the disappearance of fake goods?

Yes, as the number of blocks in the chain continues to increase, the mutual authentication of various links will also increase accordingly, which makes counterfeiting more difficult. The traditional physical anti-counterfeiting method is to confirm authenticity by scanning two-dimensional codes, RFID tags or bar codes. Unfortunately, these codes are easily copied and forged by counterfeiters. As for Linfinity, relying on the distributed characteristics of the block chain, we can create our own unique certification mark — Linfinity Mark. It can let people know that once you scan this special two-dimensional code, you can track and verify all the information about the product.

What is the progress of Linfinity’s current business practice?

A month ago, Linfinity signed six memorandums of understanding with some large companies in Singapore, one of which is a very traditional logistics company. If they take advantage of the advantages of block chain technology, they will develop better. For example, improve management efficiency and discover potential food safety problems.

In addition, in Taiwan, Linfinity has signed a strategic cooperation agreement with Alishan Group, which will provide block chain anti-counterfeiting technology for its cigarette brands. At the same time, Linfinity has also talked with some Chinese food suppliers. They all face serious problems of lost goods and stale fruits. If they use block chain technology to make information going onchain, then these problems will be solved — goods can be tracked and fruit information will be clear at a glance.

Why are there some people who are skeptical about the block chain? How do you think people should view the new technology of block chain?

The misunderstanding of the block chain mainly comes from people’s ignorance of it. The block chain is like a “catalyst” that can ” empower” traditional enterprises which thus embark on the digital track. I do not think that the emergence of block chain technology will cause more people to lose their original jobs.

In fact, many block chain projects are aimed at commercialization or proving the concept itself. When we are gradually realizing commercialization, we still need to do a lot of preparatory work. For example, the traditional large-scale enterprises may have resistance to this because they already have a mature data management system, which makes the cost of their transformation huge. For ordinary enterprises, it is relatively easier to accept new technologies. they believe that the block chain is helpful to the long-term development of their own enterprises.

Block chain is a technological revolution. Its appearance will not only change the traditional technology and application scene, but also may change the management mode of enterprises. Lower cost, better brand, broader market — this is the biggest bonus that block chain technology brings to enterprises.

What are the advantages of combining block chain technology with traditional supply chain and logistics business?

Decentralized or distributed organization is the biggest feature of block chain, which is not available in traditional organization. For example, for a famous brand shampoo, because some batches of products failed to meet the quality inspection standards, they was recycled by unscrupulous middlemen, and was transported and exported to overseas for sale. Without the introduction of block chain technology, consumers would not be able to check whether the quality of the shampoo they bought was qualified. Whether the information of products is transparent or not in all circulation links is the biggest difference between the block chain and the traditional technology.

Does the enterprise need to continuously update its own system in order to integrate with the block chain technology?

No, the block chain technology is just like a layer of network. It only needs to be attached to the original system. Its function is only to collect and feedback data and information for enterprises, so as to achieve mutual authentication and tracking of information on various blocks.

Does the supply chain ecology based on block chain include a payment system?

It is possible. Linfinity is already in contact with banks and other like-minded partners, such as the issue of financing loans. The financial lending market must consider the safety and traceability. The essential attribute of the block chain can help the financial industry to solve this problem so that the lending and financing business can be carried out safely and efficiently.

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Linfinity: Blockchain Technology Will Empower Supply Chain

The summit focused on the topic of “Shaping the Impossible”. At the meeting, Andrew W Brentano, founder and CEO of Tiny Farm, gave a keynote speech on “Innovation and Productivity of New Food Types” saying that new food types(vegetarian meat or insect foods) must be technically processed in the process of production; considering different characteristics of ingredients, consumers often fail to identify the quality or safety of raw materials.

Within the structure of traditional supply chain, this kind of “trust crisis” is normal in the industry, yet the emergence of blockchain has made it possible for the problem to be cracked.

Anndy Lian, CEO of Linfinity, conducted an in-depth discussion with Dr. Santhi Kanoktanaporn, Secretary General of APO, on this point at the meeting. Anndy pointed out that the emergence of blockchain will bring the next industrial revolution sooner than expected. The decentralization and traceability of blockchain technology provide technical support for the construction of trusted supply chain ecosystem. From production to customers, the whole process is recorded on the chain, and each block of information is mutually authenticated, thus ensuring the authenticity of product, the transparency of information, the traceability of source and the non-tampering of information.

Dr. Santhi Kanoktanaporn agreed with Anndy’s comments, noting that the combination of blockchain with traditional supply chain will greatly improve the overall security and trust of the industry, and deliver quality services to more people.

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Linfinity will debut in Vietnam at the Blockchain Festival held in Ho Chi Minh City

Linfinity will debut in Vietnam at the Blockchain Festival held in Ho Chi Minh City from 24th to 25th May 2018. Mr Enzo Wang, GM of Linfinity, will deliver a keynote speech and will also discuss blockchain applications with all the blockchain experts and enthusiasts.

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