IDA founder Mr. Walter Wang presents emerging developments in asset digitization at blockchain meetup in Turkey
Over 200 attendees attended the blockchain meetup in Istanbul, Turkey co-organized by SamuraiSignals and MATRIX AI Network on July 28th, to explore leading edge developments in blockchain. In his talk, IDA cofounder, Mr. Walter Wang outlined four innovations shaping the future of asset digitization.
The core value of asset digitization
Wang said that the technical basis for asset digitization, is creating a digitized representation of real assets or IP assets in a binary code format — however, there are currently the following challenges to overcome before the technology can be applied widely.
1. There is an asymmetry in transparency of asset information.
2. A trusted correspondence between assets in the real and digital worlds is required.
3. Maintaining the authenticity and security of asset chains? How to extend legal protections to digital assets? How to ensure the security of exchanging asset?
The IDA advanced technology suite will provide a comprehensive asset digitization solution. It combines a number of technologies, using Internet of things (IoT) to collect big data, blockchain for enhanced tracking of ownership rights and attribution of assets, and artificial intelligence (AI) for security analysis and processing data. The details are as follow.
1. IDA is building a credit system for enterprises, based on attribution of real asset attribution managed by consensus on the blockchain.
2. Data on the blockchain is immutable, or unalterable.
3. Data exchanges bring more value.
4. IDA will facilitate greater standardization through increased self-regulation.
5. Asset digitization supports better integration across asset classes.
6. A complete solution serves as an integration backbone for a multi-functional ecosystems.
To resolve the issue of distrust between tokens of different classes in the market and ensure equity, authorization and transparency, IDA has created a compatibility model for exchanging Material Resource Tokens (MRT) in the ecosystem. In this model, the IDA Token is the only standardized platform-wide token and serves to incentivize the healthy development of the ecosystem. As the volume of participants, assets and equities on the platform grows, the scope of opportunities for businesses to collaborate in a combined economy on the IDA Ecosystem will increase.
IDA asset digitization solution
To remove the distrust of different tokens in the market and ensure fairness, authorization and transparency, IDA has created a compatible format to support exchanges in the ecosystem. The IDA Token is the only standardized platform-wide token and serves to incentivize the healthy development of the ecosystem. As the volume of assets and variety of MRTs in circulation grows, there would be a continuous increase in its value.
The first project in the IDA ecosystem
To accelerate the time to market launch and lay the foundations for the platform, IDA is working with Derun (Laos) Investment Trade Limited Corporation to digitise their timber resources. The Derun Laos Company (abbreviation for this White Paper) will issue an MRT for its natural resources and sell these MRT to the global market in exchange for IDA Token.
IDA is developing a technology platform based on blockchain, AI, and IoT for operational value creation, improved transparency and tracking in timber management. This custom technology platform provides unique optimization for the conditions in remote forests. A comprehensive survey of flora biodiversity conducted by the Institute of Forestry Science Research at the National University of Laos found abundant natural herbs, which can be used for the global traditional Chinese medicine market. In addition to the timber resources, IDA would cooperate with other suppliers to utilize the medicinal resources.
Technology Solution
IDA, partnered with MATRIX and Sigfox to develop an IoT enhanced blockchain platform capable of reaching 100,000 transactions per second (TPS) with self-optimizing capability. The network also has smart contracts complied with Natural Language Programming (NLP), and the adversarial network serves to investigate the security issue. After the advent of bitcoins and smart contracts, the integration of blockchain, AI, IoT and big data, making up the platform’s public blockchain, has spurred a revolution to digitize real assets and rights.
Project Overview
Sigfox, a global leader and pioneer in narrowband Internet of Things technologies which headquartered in France, is one of the chief architects of the ecosystem. Sigfox is currently the world’s most advanced provider of wide area network (WAN) technology, with the widest network coverage, and most application-enriched offerings of Internet of Things (IoT) solutions. As of April 2018, Sigfox has global partners and narrowbard IoT connective services in 46 countries and regions. It is the only international provider of complete NB-IoT operations solutions, with the benefits of seamless roaming, low cost, and low power dissipation.
Sigfox projects that its network services will be operating in 60 countries and regions by the year-end of 2018 and will begin offering worldwide satellite web services by 2019. Sigfox is a leading provider of global IoT applications. Over 200 well-known international companies use Sigfox IoT services including Bosch, Nestle, Danone, Louis Vuitton, Total Petroleum and Air Liquide Group. Broad industry applications include smart cities, municipal management, logistics tracking, smart agriculture and smart elder care.
