LD Capital, the well-known blockchain investment institution, held a private luncheon at CHIJMES Hall, Singapore to connect all nodes of the ecosystem.
The event started with the introductory speech from Mr Jack Yi, Founder of LD Capital, to explain the LD Capital’s investment philosophy as well as its mission to construct a holistic blockchain ecosystem, echoing LD Capital’s vision: Redefining blockchain for a better world.
The afternoon was star-studded with high-profile partners of the industry: Jonny Lyu, vice president of KuCoin; Kevin Ding, managing Director of DHVC; Shaun Djie, COO of Digix and many more. Under the sparkling crystal chandeliers and Victorian Gothic styled arches, six projects pitched elegantly about themselves to the attendees. Subsequently, the roundtable discussion kicked off dialogues on the future developments in stable tokens. As the afternoon heat intensifies, the panellist engaged in a hot debate on the concept of stable coin.
Soar – Blockchain Super Map
On September 18, Amir Farhand, CEO of Soar, presented the progress of the decentralised super map -Soar- at the luncheon. Soar is a blockchain-based super map that enables dynamic updates of map data including satellites, aerial photography, and drones worldwide. The super map is expected to be the next generation of Google Maps in the international map industry. Soar’s test network has been released and has integrated extensive UAV data. There will also be a daily update of Eurospace satellite data with a system throughput of up to 1.5PB/min. Soar has already developed cooperation with world-renowned companies such as Alibaba Cloud, European Space Agency, and National Geographic magazine. The project is in the final stage(s) of financing, and the domestic financing is led by the Node Capital, Hunter Capital, and JRR. Jin Yu act as the incubator for Soar.
SERO – Privacy Protection Program
Leyla, the co-founder of SERO, delivered a keynote speech on ‘Blockchain reconstructs a better world’; introducing SERO as the world’s first blockchain platform that uses zero-knowledge proof mechanisms to truly implement privacy protection. This allows anonymous coins to support smart contracts, and to be circulated on DApps. At the end of September this year, the test source site went live and public. SERO is also the world’s first cryptocurrency that allows DApp developers to distribute privacy protection on the platform and supports smart contracts for the public chain.
Ms Leyla hoped that SERO could set off a new wave of blockchain technology, allowing DApp developers to find more applicable commercialised-scenarios.
TokenPlus – Digital Bank
Yao Wenchi, the co-founder of TokenPlus, presented the strategic positioning of TokenPlus as a digital bank. The three platforms – fund-raising, lending, and the public platform – are integrated to provide users with value-added services for digital assets. TokenPlus is currently online and plans to complete 5 to 10 public offerings by the end of the year 2018. They have already reached a consensus for partnership with several projects. TokenPlus has also collaborated with Tokenmania, Hunter Capital, LD Capital and many Southeast Asian institutions.
Contentos – digital content public chain
Mick, the co-founder of Contentos (COS), attended the Singapore event as a public chain representative. He delivered a keynote speech to introduce COS to c-suite executives, media representatives, blockchain developers and enthusiasts. LiveMe, Cheez and PhotoGrid are some of the application scenarios of DApps; the application shows us ways in which decentralised content systems could be integrated into our daily lives.
Contentos is led by LD Capital and is committed to building the world’s most extensive public domain of digital content; enabling the free production, confirmation, distribution, incentives and transactions of content, returning value and power to users. Using blockchain technology, Contentos will redefine the value of global content creation.
LAYA.ONE – blockchain game
Wang Kuo, CEO of LAYA.ONE, shared the vision of LAYA.ONE with friends from all walks of life; LAYA.ONE is a combination of games and blockchains that will spawn a new industry worth billions of dollars to make the world a better place.
To realise this vision, LAYA.ONE has established a decentralized high-speed network with its own core technology, Laya.Cloud. Laya.Air, originated from Laya.Box, is an engine that develops tools for a large number of developers. Laya.Cbox, is used to build community and content platform; it generates rich content to attract traditional game users. As such, we can solve the central issues of the industry and establish a ‘full chain’ game network and ‘chain travel ecological platform’.
AITA- Public Blockchain Technology Based on Credit Fragmentation
AITA project CEO, Aaron Guan, delivered a keynote speech titled “Sharding with reputation; a more secure ‘sharding’ protocol for open blockchain”. Aaron Guan introduced a new ‘sharding’ technology based on node reputation. The ‘sharding’ technology takes into account the different characteristics of the nodes, allowing the entire blockchain system to achieve transaction speeds of VISA level, and the technology can guarantee network stability and security.
Currently, the fragmentation technology is mostly based on random fragmentation and does not adequately consider the different characteristics of the nodes. The AITA project is based on reputational fragmentation technology, which examines the different attributes of the nodes and is highly scalable, motivating and secure. The current test results on Amazon have reached the VISA commercial level, which lasted for three hours. The test uses 450 US East Coast and 450 West Coast large machines, and a total of 1800 node. As a result, the test has an average speed of 6853 TPS, which exceeded most of the mainstream public-chain platforms.
Panel Discussion: The panel’s views were split on the concept of stable coin
Soft lights filtered gently through the timeless Belgian stained-glass window, and the panel ruthlessly exchanges opinions on the future of the payment and stable tokens. As of today, there are three main types of stable tokens: fiat collateral based; crypto collateral based, and algorithmic collateral based. The stable coin falls under the security token as it is pegged to a financial asset. It is created based on structured fund, a current financial model that combines both equity and fixed income products. Tether (USDT) is said to be the epitome of stable coin; for every USDT issued, an equal amount of USD is deposited with a custodian. Thus, tether is always traded as 1USDT:1USD. This has led to criticism from the crypto-community and long-term economic effects in the market.
Read on to find out how stable coin would affect your future.
Current Landscape of stable coin
Johnny Lyu, the vice-president of KuCoin, argued that the idea of a fiat currency being pegged to a token fogged the route to decentralisation. Moreover, Kevin Ding, Managing Director of Dan Hua, added,
“Many investors have traded off free capital flow, to receive a fixed return from stable coins. We should not relinquish our financial freedom or returns as both components determine the profitability of an investor’s portfolio.”
However, the rest of the panel took a stance on another side of the spectrum. Most of the panellist believed that due to the volatility of the market now, there is a need for the stable coin to diminish the investment risk.
Shaun Djie, COO of Digix, reminded the attendees, “Do not invest what you can’t lose. Stable coin offer stability as it could diversify the portfolio and decrease the risk.”
Li Xi, Head of LD Capital (Singapore), agreed and added that stable coin would bring more significant benefits to institutional investors, as it has a lower return on investment (ROI) for retail investors.
Determining the value of the stable coin
In response to the flaws of stable coin, Jerry Li, the CEO of DUO Coin, asked the participants to ruminate on the current landscape of the stable coin market. For instance, DApp has stable value exchange and ROI.
Johnny Lyu suggested that retail investors should observe the investments made by exchanges, as the value of stable coin is derived from the adoption rate.
Future of Stable coin
After much debate, the team still hopes for a bright future for cryptocurrencies.
Johnny Lyu mentioned that from the aspects of exchange, the stable coin has a mature system and can provide users stability when transacted.
Kevin Ding said, “In the future, as the market starts to stabilise stable coin would incline towards individual asset policy and stop pegging to an asset.”
Shaun Djie added that the future of stable coin should offer liquidity and the reserves should be deeply rooted to withstand market forces. Also, the payment coin should allow cross-border payment to decrease salary default risk.
Main takeaways of Stable coin
Kevin Ding, recommend retail investors to use the stable coin as a learning ground and efficiently make use of the stability to reduce the effects of volatility. Investors could also use stable coin as a market entrance to better equip themselves with the knowledge about the market.
Li Xi concluded that there is neither good nor bad about stable coin, the industry currently lacks the expertise to take a quantum leap into a fully decentralise future. Thus, stable coin is a tool needed today to stabilise the market.
“There is nothing wrong in looking for stable returns. Regardless of the project nature – centralise or decentralise- the multitude of usage the coin provides is far more beneficial,” Keith Carter, the moderator and the author of Actionable Intelligence, beautifully summed up the panel discussion. “I believed that in the future only two or four cryptocurrencies would remain, and the coins would be widely circulated to serve the unbanked.”