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FormulA at the Global Blockchain Leaders' Summit: Launching a New Era of Asset Blockchain
[June 11, 2018]

FormulA at the Global Blockchain Leaders' Summit: Launching a New Era of Asset Blockchain

SHANGHAI, June 11, 2018 /PRNewswire/ -- On June 6, 2018, the "Global Sleepless Blockchain Leaders' Summit and China International Blockchain Products and Equipment Exhibition" hosted by the People's Government of Xihu District, Hangzhou, was successfully held at Hangzhou Yunqi Small Town International Convention and Exhibition Center.

FormulA’s Asia Pacific Partner Stephen Song(Third Left) attends the Innovation Forum

The Innovation Conference Center co-organized by Atlas Capital Group is one of the three major branch venues of the Summit. It invites industry leaders from domestic and overseas guests to discuss in depth the application innovation of blockchain technology and further explore the future value of Blockchain+.

Based on the discussions relating to the development of blockchain technology, this innovative venue also incorporated a variety of perspectives. Jin Xuejun, Executive Dean of Zhejiang University's Public Policy Institute and President of the Blockchain Technology Application Association of Zhejiang Province, said at the opening of the innovation conference: "The development of blockchain technology and applications has important impetus to the development of a new generation of information technology industry. The role and implementation of this application will be a very important trend and focus for the development of blockchain technology." This point of view is very similar to the "2018 China Blockchain Industry White Paper" issued by the Information Center of the Ministry of Industry and Information Technology two weeks ago. The latter report shows that the blockchain application is being accelerated in order to promote a new round of business model changes, and build a "good faith industrial environment."

FormulA's global partner David Brown

As a result, FormulA, focusing on the rights and trading of real assets, was invited to attend as an exemplary blockchain innovation project and became the highlight of the innovation branch. FormulA's global partner David Brown and Asia Pacific partner Stephen Song adopted "Future Road to Asset Blockchain" as the theme. They shared their feelings and experiences with guests present and described how to use blockchain technology to achieve innovative applications.

At the beginning of his statement, David went straight to the root of the matter and explained why FormulA chose the application scenario of asset value exchange. "The scale of global assets is close to ten billion RMB. However, assets of such magnitude continue to face various potential risks including fraud, institutional failure and financial crisis which is a sub-optimal situation. Moreover, the assets we are talking about are our houses, financial investments, and even tickets for this event. These assets are closely related to everyone's life."

"The key to blockchain technology's ability to service the value of assets is to establish a global trust system. FormulA, with its technical advantages, can create trustworthy networks on the chain and help people conduct efficient and effective real-estate transactions," said David.

He also mentioned that FormulA's main online focus is on asset registration and trading, and to be the first to active player in real estate and financial assets. He also officially announced that FormulA will deploy 10,000 nodes worldwide. In August, the company will go online to test the world's first DAPP for real asset rights trading.

In the roundtable forum, Stephen Song, a partner of FormulA Asia Pacific, was invited as a representative of the innovative application project to discuss the application challenges along with the future of blockchain technology. He said attention ought to be directed towards the implementation of applications in the short to medium-term. Recording assets and the legal rights flowing from ownership therein is a fundamental demand of even the most basic civilizations. FormulA will also base itself on the "asset blockchain" to combine the scenarios of ownership and transactions of various assets to promote the development of concepts and technologies in the entire blockchain industry.

Stephen expressed his tremendous gratitude to the audience for having received an invitation to participate in the summit: "FormulA is still very young. We are grateful to the government and industry colleagues for their recognition of FormulA and are looking forward to cooperating with any interested stakeholders or individuals to facilitate the development of a more honest industrial environment."

About FormulA

FormulA is a leading blockchain project aiming to build a reliable Internet of Asset (IoA) which can be deployed to register and exchange the value of real assets. Based on the "Asset Digitalization Protocol", FormulA provides a universal solution for asset digitalization and reforms the status quo of the entire asset market. We can also empower financial institutions to increase their efficiency while decreasing potential cost and risk.

CONTACT: Richard Li, +86-15021588924

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