The FAT awards ceremony was sponsored by major companies such as Ant Financial, 36KR, Bazaar, Tencent and had over 1,000 registered participants representing governments, blockchain companies, financial investment banks, and traditional internet organizations. The event was widely covered by media organizations and provided a great platform to raise awareness for Fusion.
FAT stands for “Finance and Technology” while also being a play on the Joel Monegro’s thesis of blockchains being ”Fat protocols”. In short, fat protocols concentrate value at the shared protocol layer, with only a thin value at the applications layer.
Over 200 companies applied for the recognition, from which 36 were selected. Selection was based purely on merit by a committee of government officials, representatives of technology leaders and financial organizations. The list of winners include prominent organizations like Alibaba’s Ant Financial, Tencent, and JD.Com.
Being honored alongside these leading large-cap companies is both a validation of Fusion’s capability, and a ”seal of approval” that will accelerate Fusion’s growing presence and adoption in Asia, especially considering the exposure gained towards government officials in attendance.
The prestigious award was given to Fusion not only for its cross-chain DCRM technology developed in conjunction with the 4 world-class cryptographers, but also for its diverse financial application and partnerships that include:
- reducing automotive fraud and increasing capital liquidity to auto lending with AXP
- working with Realio and YAD to fund the underbanked SME industry
- tokenizing real estate, mining rights, and other opportunities with Nvelop
In addition to the “Best Real-World Application” award, Fusion’s Chief Operating Officer, Josie Jiang was recognized as one of 90 people to watch in blockchain in 2020.
Fusion is excited to kick off the new decade with such strong recognition from government and technology practitioners in China, where blockchain innovation is surging ahead as a nation-wide priority backed by President Xi Jinping. We look forward to many more partnerships in 2020 in China and globally, especially as our DCRM Alliance begins pushing the envelope of decentralized custodianship and interoperability.