On June 28, ENGINE participated in the GENESIS C.A.T Meetup in Silicon Valley. This is the second stop of ENGINE’s world tour with Genesis Capital, starting from Seoul, Korea. Leveraging Genesis Capital’s platform, and sharing the stage with some of the best blockchain projects in the world to promote what ENGINE has to offer.
Max Tang, representing ENGINE, gave a speech at the meetup to share Engine’s goals, ecosystem, business model and technical advantages. He also conducted in-depth communication with local investors, media, and cryto-currency exchanges .
The U.S. market would become an important and significant market for ENGINE, given it’s massive automotive market and global lead in innovation and adoptation. During event, ENGINE shared with local investors additional details and progress of the project.
Building on the advantages of blockchain technology, with a focused on improving transparency and facilitating collaboration within the industry, ENGINE’S ecosystem can allow parties from different automotive subsectors to collaborate business transactions and information in a decentralized and more transparent manner. And all parties involved in a car’s life cycle can benefit from ENGINE, from the manufacturer, to the dealers and service providers, ultimately to the consumer, all would benefit as result of ENGINE. Through this new level of decentralization and transparency, new business models and collaborative efforts can be made possible, opening the door for a more fluid and open market.
In order to support the massive and complex nature of the automotive market, ENGINE would need to be both extremely flexible and support high volumes of data. ENGINE partnered with China’s blockchain technology research centers to incorporate many leading design concepts and technologies into our implementation. Some characteristics include primary-sidechain structure, variable consensus model, smart-contract support, trusted data tagging etc… These design choices enable ENGINE to overcome the theoretical transaction speed ceiling of a blockchain, to provide a dynamically scalable platform to support the business needs of any magnitude. While at the same time permit various parties to participate and capitalize on the ENGINE ecosystem in its own unique way. Last but not least, this design allows the ecosystem to have a monitor, rate, reward and punish unsincere and fraudulent actions.
ENGINE’s Alpha Build was released in April 2018, and ENGINE’s team is working deligently, aiming to release the primary chain (main net) in September 2018.
ENGINE is fortunate to gain the approval and support from numerous renown institutions such as Genesis Capital. The token that will be used throughout the ENGINE ecosystem would be ENGINE’s own EGCC token, this token is currently already in circulation and is listed on 4 crypto-currency exchanges, including Bit-Z, Huobi, Coinnest and KEX, for investors and potential partners to consider.