On July 20, the “Web3.0 Data Analysis and Privacy Security” forum hosted by Babbitt was opened at the China (Hangzhou) Future Blockchain Innovation Center.
Guests from companies such as Amazon Cloud Technology, Shumei Technology, ADVANCE.AI, NFT China, Pure White Matrix, Yulian Technology, Qulian Technology, Hangzhou International Digital Trading Co., Ltd., Wujie Map and other companies took the stage to share and discuss new opportunities in the Web3 era. ,new challenge.
In the roundtable session of “Brands get together and hide, how does the underlying structure empower the new track”, the host, Babbitt Vice President and Co-founder of Wujie Map, Ma Qianli, had a wonderful dialogue with five guests. They are:
Zhao Jingbo, head of digital collections of Pure White Matrix;
Zheng Xiaofeng, head of digital collections of Yulian Technology;
Liu Gongping, head of bottom products of FunChain Technology;
NFT China co-founder, CTO Charlse;
Lin Yang, Technical Director of Hangzhou International Digital Trading Co., Ltd.
The following content is from the round table record, organized by Babbitt.
Ma Qianli: The popular NFT Phanta Bear is technically supported by Pure White Matrix. What do you think are the challenges when the Web2 project enters Web3?
In the NFT part, I think there are mainly two aspects.
One is technical barriers. For example, if you have done enough stress testing, a project that is relatively popular may crash when most users MINT at the same time. For example, not doing enough security testing, when a hacker exploits a vulnerability and then steals your database, that’s very bad for the project. For example, are you more familiar with robotic scientists, who hoard too much volume at a very low price and then sell it after the secondary market starts, which is also very bad for the project. Even very well-known brands and popular artists may ignore these issues.
The second is operations. It is not the same as traditional projects. NFT is not only small picture sales, it also includes MINT promotion in the early stage, and then in the middle and later stages. It is a complete strategy throughout the entire event. If you do not meet the tastes of Web3 users enough to get Their consensus, your project will not necessarily do well, at least it will be far from your expectations.
Ma Qianli: Yulian and Qulian are both very low-level technology companies, and there are still many underlying environments for digital collections. For example, the choice of the underlying chain may make companies in a dilemma. Then, there are also impossible triangles in the underlying environment, that is, there will be imperfections in scalability, compatibility, speed, efficiency, etc., how do you overcome these challenges?
I’m in charge of operations, answering this more technical question.
First of all, there are nearly 1,000 digital Tibetan platforms in the domestic market, and a considerable part of them do not use the chain. It is completely a centralized software that sells pictures. Secondly, when doing NFT, there are also domestic and foreign markets. The market you face determines the type of chain you choose. If you want to go to overseas markets, I think it may not be particularly suitable to choose a domestic alliance chain. On the contrary, if you want to be relatively compliant in China, you must still choose a domestic alliance chain. Finally, since I chose the alliance chain, efficiency, security, and reliability, as an operator, I don’t bother about these things. What I am more concerned about is whether it can meet my current needs.
Because for the NFT projects I am running now, the secondary market is not very clear from a policy perspective, and it may be clear in the future. So far, we have not opened the secondary market, but more pure primary sales, or From the perspective of collection, entity empowerment, and equity empowerment, it actually does not have high technical requirements for concurrency. So, if you want to do compliant digital collection projects in China that embrace supervision, I think most of the alliance chains should be enough, of course, it depends on what you think.
In fact, most of the digital collections are now small and medium-sized platforms. There is actually another problem reflected here. The endorsement of the main body of the company, the model of these small and medium-sized platforms, their technical capabilities and potential risks are relatively speaking. bigger. When a user buys on these platforms, the risk of potential loss of his assets is relatively large.
A relatively large platform will be more secure in these aspects, whether it is technology or endorsement ability, it can be supported, and there is not much difference.
Ma Qianli: As the digital assets on the chain of major public chains or consortium chains, what kind of development path might the interoperability and circulation of digital assets on the chain be in the future? For ordinary users to truly understand the on-chain operation of the blockchain, will it cause great obstacles to learning and practical operation due to the high threshold? How should the product be prepared?
All domestic platforms are basically consortium chains, and we have been exploring how to cross-chain between consortium chains.
In fact, cooperation between enterprises is one way. In addition, I think we should always pay attention to the trends of the regulatory authorities. For example, digital RMB may become a medium for cross-chain or transaction. In addition, we have seen some blockchain alliances, such as the BSN alliance, where the respective blockchains in the alliance follow certain standards and then conduct cross-border operations, which is also very possible.
From the perspective of Web3, there are indeed some differences between China and foreign countries. We may not be able to do it based on the public chain like foreign countries, and it is completely decentralized. However, it is very likely that there will be many consortium chains in China. The consortium chains follow an inherent agreement, or a standard issued by the country, and then conduct asset cross-chain business.
There are two aspects. The first aspect is technology. For example, the two alliance chains communicate through technical agreements and interfaces, and then wait for national-level infrastructure. Everyone joins the organization.
But I think the non-technical level is actually more important, that is, the identification of the nature of digital assets needs to be completed. Taking copyright assets in the cultural industry as an example, that is, digital products with copyrights as an example, the identification of copyright and the identification of the asset itself requires a consensus among multiple parties, and everyone needs to think that this is an effective asset. Under this premise, asset circulation between the two chains can be realized, otherwise the technical problem will be solved, but the business logic will not work.
Regarding the user education or user awareness improvement you just mentioned. We have a philosophy that the more open and transparent, the more credible users will feel. At present, users in China have uneven understanding of blockchain. For business platforms, user education is also a part of the responsibility that business platforms should undertake.
We need to compare how this digital asset is identified, how it is formed, and how the investment in it flows from one address to another. This whole process, how it can be immutable to a certain extent is relatively a story. A complete description is given to the user, so that he can better participate in our ecology, and then make our business platform more feasible.
Ma Qianli: There are so many teams entering the market in the short term. For companies or teams that want to enter the market, as senior industry practitioners, can you give some pertinent advice from your own perspective?And, what are your views and expectations for the future development of NFT or Shuzang?
Since Alipay started to make digital collections in June last year, everyone has seen the infinite possibilities of this industry within a year, and a large number of people have poured in. On the bright side, I think it will definitely improve the quality of the digital collection, because everyone is rolling up. The bad point is that after the alliance chain is based, it is independent. If some platforms go out of business, the enthusiasm of users will also be suppressed.
Everyone has seen the red-headed document that Shanghai supports this industry, which is very good for the development of the industry. In the future, under an orderly and safe supervision, it will develop slowly. I think the future is still very promising and I am looking forward to it.
I think there is a phenomenon in the industry where bad money drives out good money. However, is the industry only hype? Post a picture, and then stir it up, I don’t think the industry will continue to develop like this.
We have always had security chips for blockchain, and our chips can be combined with physical objects. Look at the current Bubble Mart, he has a transaction, but after the transaction is completed, the subsequent value is actually decoupled from the brand side. Is it possible for me to use the chip to bind the physical product, and then link the subsequent value. Linking with the brand, I think this is more meaningful, we have done about three cases.
Our company is now basically looking at this matter from a developmental perspective, and looking at the market from the perspective of the Metaverse. Therefore, we are now thinking more about whether digital products still have to break the circle, and we can’t always focus on the secondary market.
I think with the opening of the policy, there will be some platforms with secondary qualifications, but definitely not all of them. I don’t think our Yulian can necessarily get the qualifications either. Therefore, we think more about being realistic and down-to-earth, so that digital collections can be combined with the actual industry.
For entrepreneurs, my suggestion is to find their core values and how to provide differentiated services to customers.There are so many platforms now, but in front of a big platform, if you do the same thing with them, its platform endorsement and traffic are far beyond your reach.
Outlook for the future. We have seen that when you sell digital collections, you will also have some offline rights and interests of the issuer, such as tickets, offline priority experience rights, etc. In terms of sports events, it has also sold torches for the Winter Olympics, mascots for the Asian Games, etc. These are also combined with digital collections to promote Chinese sports culture. I think there may be a lot of development in digital marketing and sports scenes in the future.
In addition, there are many and complex platforms now. Will there be a real alliance chain of super-large digital collections in the future, which will aggregate all small and medium platforms, and everyone will enter as nodes. Then, through incentive measures and governance measures, everyone can share the interests of the alliance and accept the regulation and supervision of the market. Then, real art, like expensive art, or something else, can be sold on it. We are also doing some things like this to promote the overall direction of building a consortium chain. I also hope that this thing can be done, and everyone can cooperate with each other to create a win-win situation.
I think it doesn’t matter whether it is good or bad, it more reflects the strong demand behind the market. There are both production-side needs, including brands, people creators, and consumer-side needs.
Therefore, I am still relatively optimistic about this industry. Shuzang is actually a very good carrier for the realization of creativity. In the future, I think creators will enter a platform that can better leverage the nature of creator economy, and small platforms will slowly die out.
I think NFT is not equal to data collection. NFT should correspond to a generalized digital asset, or a tool for encapsulation and mapping of assets or digitization.
In the future, it should be a function of a viable, automated circulation of these tangible assets, or rights. It is not a relatively narrow concept we are talking about now.
As I just said, assets need to have a certain liquidity. After the first-level sale is now completed, there is no certain liquidity.In fact, there is no clear definition of the rights and interests of the assets behind digital collections. Therefore, it is necessary to limit one of its liquidity. It is precisely because the rights and interests are not clear, so it is necessary to limit.You can’t speak of trading an “air”.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/where-are-the-opportunities-and-challenges-in-the-second-half-of-the-second-half-of-the-digital-tibetan-circuit/
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