How can blockchain help us have better connected vehicles, a better smart healthcare, or a better smart home? Blockcloud paves the way for the next generation of TCP/IP by providing trust, incentivisation, scalability, and high performance to cloud computing applications.
Author: Isabelle Yeo
Seoul – In today’s highly volatile blockchain world, Blockcloud scientific team brings the quality and accountability of top level academic research. The Blockcloud project was presented during the Genesis CAT Meetup in Seoul, Korea, an event created to bring forward the “best of the best” in the blockchain research community.
The scientific team behind Blockcloud, led by its CEO Zhongxing Ming, presents a technology that can drive Future Internet.
How can blockchain help Future Internet? By addressing its main issues: trust, sustainability, performance, scalability. Blockcloud uses the blockchain technology to thoroughly solve the problems of trust and incentives in a service-centered network. In the Blockcloud TCP/IP all services are distributed, and every individual on the network can contribute to the distributed storage, computing, and even to its services and pricing, promoting the entire network as a “consensus machine”. In addition, Blockcloud offers high performance and great scalability. Applications range from connected vehicles to smart healthcare, smart home, edge computing and sharing economy.
The team behind Blockcloud have an exceptional track record in the application of technical knowledge to business use case scenarios. Between the 12 members, they have published more than 50 papers in top academic journals, which have been cited more than 300 times worldwide, and they have applied for more than 80 patents. Moreover, the developer team draws on previous experience with Chinese tech giants such as Huawei, Baidu, Alibaba and Tencent.
At present, Blockcloud has received institutional investment from Genesis Capital, Innoangel Fund, Ok Capital, Neo Global Capital, BKFund, JRR, GBIC, BlockVC, S.capital, Brink Asset Consensus Capital and MW Partners. They have attracted the attention of tens of thousands of users. The plan for the future is to work together with the users to build a mature ecosystem.
Blockchain has taken the world by storm. With more than 3500 startups and a 40% year-over-year growth rate, the global blockchain market is expected to reach a value of US$ 14 billion by 2022. However, this tumultuous growth comes at a price: the “gold rush” towards blockchain attracts all sorts of self-styled “experts” and the risk of speculation is very high. In addition, the technology behind blockchain research often appears too complicated for the average investor.
This is exactly why the Genesis CAT Meetup was created. The objective of this roadshow event is to promote high-quality teams and projects from the blockchain research community, while also increasing awareness on the most advanced blockchain-related technologies.