Blockchain 3.0 with Highest Performance Output! Blockchain “Nova” Ultrain Is In Collaboration with Dr. Keyu Jin to Establish a New Era of Blockchain
Ultrain Nova Product Announcement & Signing Ceremony of the Chief Economic Advisor happened at Bulgari Hotel Beijing on the 11th of July. With the theme of “Witness Blockchain Generation 3.0”, Ultrain introduced two sets of innovative Blockchain technology products to the world：1) Testnet based on the R-pos Common Consensus；2) A user-friendly DApp integrated development framework — Robin. Those breakthrough technologies mark the beginning of 3.0 generation Blockchain. Meanwhile, Ultrain published its official Supernova mascot, APP and other accessories products.
In addition, during this event, Ultrain announcing the signing a world renowned economist, Dr. Jin Keyu, to be Ultrain’s Chief Economic Advisor.
Ultrain’s investor representative, Sheng Xitai, Founder and Chairman of Aplus fund, delivered an opening speech prior to the product release. When Mr. Sheng Xitai described his relationship with the Ultrain team, he mentioned that the connection between Ultrain and him started with his acquaintance with Emma, Co-founder of Ulrain. Emma is a family member of a famous hero from the Anti Japanese war, she attended Doctoral computer science program at Columbia University, and is familiar with the market from her years of experience in cross-border mergers and acquisitions in United States, Europe and China, as well as years of investment and banking experience in the market. Mr. Sheng said when he first met Emma, he was attracted by Emma’s strong connections in both China and oversea market, as well as her ability of interpersonal communication, and eagered to establish cooperation with Aplus’s M&A fund. As Emma was determined to work independently, and join an industry that requires strong understanding of technology, international experience and connection with established enterprises. Mr. Sheng indicated that he was willing to fully support her.
Mr. Sheng Xitai also pointed out that other two founders of Ultrain are also excellent entrepreneurs. For example, CEO Ray Guo had years of IBM technical consulting experience and acquired a P9 position in Alibaba as the director of data security. As a developer, he has a deep understanding of business, and began to dedicate himself into Blockchain industry since 2012 with acute judgment and true understanding of the bottlenecks, opportunities and direction of Blockchain development. William Ning Li, the head of Blockchain technology team from Ant Financial, is the most suitable person to be a CTO of Blockchain technology company. With the top-level human capital that Ultrain has, as well as its positive energy and vision, Mr. Sheng Xitai believes that Ultrain will achieve great success in the future. As a result, Aplus capital holdings decided to invest in Ultrain during angel round, and said it would continue to support Ultrain’s development in the future. Ultrain’s rapid development in just a few months after the angel round investment confirms that Mr. Sheng’s judgment on the three capable partners of Ultrain. In the end, Mr. Sheng Xitai said that Ultrain, as a rising star of the Blockchain industry, really promoted the development of Blockchain, and he encourages more Chinese entrepreneurs to make their presents on an international stage.
The founding team of Ultrain made a collective appearance on the stage. The three founders presented the core competitive advantages of Ultrain, starting from vision & goals of Ultrain to the detailed development planning and the core technical architecture.
Ultrain Co-founder & CEO Ray Guo started the presentation with Ultrain’s vision. Mr. Guo pointed out that the Blockchain is not only a technological revolution, but also a revolution in business models. The value of Blockchain technology to human society is no less than the emergence of electricity and Internet in the history. It will bring great value to our society.
According to Mr. Guo, with the rapid development of Blockchain, Artificial Intelligence and Internet of things technology, the technological revolution further promotes business to expand its boundaries and optimize its process, which is rapidly bringing us into a new business society that Ultrain calls “programmable business society”, which all things are perceived, interconnected and traded. In such business society, trillions of commercial transactions are carried out every day with trillions of dollars of economic flow. The counter parties are no longer bounded by business contracts, but constrained by intelligent contracts, while intelligent contracts will dispatch hundreds of millions of intelligent devices to automatically execute business behaviors. The economic parameters of the entire economic system can be adjusted by artificial intelligence to ensure that the operating cost of business activities is lower, more efficient, and the distribution of commercial interests is more transparent, which can greatly improve the overall social productivity.
In his speech, Mr. Guo also referred to the three core characteristics of a programmable business society, transparency, automation and intelligence. The infrastructure of a programmable business society is a combination of Blockchain, machine learning and edge computing. The integration of these three technologies cannot simply be pieced together, but must be deeply integrated. At last, Mr. Guo stressed that: The vision of Ultrain is to create a programmable commercial society. The mission of Ultrain is to integrate the Blockchain + Machine Learning + Edge Computing Technology to lead the infrastructure construction of the programmable commercial society, and promote the Blockchain technology to establish its value in the real economy.
Ultrain co-founder & CSO (Chief Strategy Officer) Emma Liao started her speech by thanking the support from Mr. Sheng, as well as his appreciation of the Ultrain team. Emma also thanked Morningside VC, DHVC and other key investors for their participation in this event.
Then, Emma started to address the current bottlenecks with the Blockchain industry. The significant advantages of Ultrain, compared with other public chain projects, is its construction of completely decentralized Common Consensus Mechanism R-POS with breakthrough cryptography technology and innovative security application, created to ensure the security of trust computing and building a foundation of value calculation.
Emma said that the Ultrain’s team is well experienced in large-scale engineering project and is capable of solving fatal problem of the Blockchain industry. Furthermore, Ultrain is a public chain company with “multi-dimensional” development. Ultrain is capable of achieving its goal through theory, engineering implementation and global business ecosystem based on quality products, great communities, comprehensive ecology and dedication to become a platform that’s capable of connecting the Blockchain technology with mainstream business society.
Emma also pointed out that Ultrain is the first industrial scale Blockchain 3.0 infrastructure to support large-scale commercial applications. Ultrain provides a complete and powerful open source framework to support more vertical industry application development with its technology & development, layer development, zero knowledge prove and credit system establishments.
Emma’s strong international background and personal experience are Ultrain’s trump card. Currently, Ultrain has already set up Blockchain community “Hub” in many key cities around the world, such as New York, Silicon Valley, France, Germany, London, Singapore, Korea, Japan, and so on, as part of Ultrain’s global community’s development plan. At present, Hub Advisor & Leader (Stakeholder) & Community Manager from all over the world have actively participated in the establishment of Ultrain’s community and the construction of its Ecosystem.
In her speech, Emma said that Ultrain is working on both online and offline to promote the influence of Ultrain in the mainstream commercial society. Ultrain is also devoted to resolve difficult breakthrough of Blockchain technology, as well as exploring possible collaboration between Blockchain technology and the commercial society. Ultrain’s effort not only to promote a single company, but the development of entire Blockchain industry.
At the application level, Ultrain can support the development and application of vertical industries including cultural entertainment, retail, travel, sports health, logistics, energy, chain components and other vertical industries. With the development of time, Ultrain will provide technical support and scenario application for more industries.
Finally, Emma launches Ultrain’s plan for its future development, the “Nova” product announcement is just a start, and in the future, there are more surprises and milestone breakthroughs from Ultrain.
Ultrain Road Map:
September 2018 Supernova
January 2019 Black hole
April 2019 White Hole
April 2020 Big Bang
Singularity
Ultrain co-found & CTO Willianm Ning Li focused his speech on the development of Robin framework through technical approach. He mentioned that the overall architecture of Ultrain is divided into two parts. Among them, the foundation part: R-pos consensus mechanism as the core drive of Ultrain, as well as its basic modules the Gossip network, cryptographic algorithm, etc. The upper part of the architecture is Robin framework, a framework that everyone can program, as well as its basic modules, such as the WebAssembly instruction set environment of the intelligent contract along with SDK U3. JS and so on.
Afterwards, the other two members of Ultrain’s “Dream team”, Chief Cryptologist Husen Wang and Chief Architecture Yufeng Shen elaborated on the details of the two innovative technologies of Ultrain and demonstrated thoroughly through presentation.
The first technology product announced during the event is “Testnet based on the R-pos Common Consensus”. With breakthrough cryptographic algorithm, R-PoS consensus was established, a secure decentralized P2P (peer-to-peer) network which significantly increases the performance of Common Consensus. After Ultrain releases a public version of the R-PoS network, users can visit the public network by visiting Ultrain’s official website, and acknowledge the status of R-PoS network operation. Ultrain’s technical performance statistics indicate that Ultrian is the world’s leading Blockchain project, which has been realized and put in action. At the current stage, Ultrain has 1000 nodes, with its TPS reaches 3000 transaction/second with a 10 second transaction confirmation time.
The second innovative technology product presented at the product announcement is “Developer oriented industrial one-stop DApp programming environment — Robin Framework” In order to solve the problem of difficulty in programming, Low development efficiency and unsatisfactory operation efficiency, Ultrain has launched the world’s first DApp integrated development environment Robin Framework based on TypeScript and Node Js. Developers can quickly develop DApp on Ultrain based on the development framework, by using the most common programming language, the most user-friendly developer interface, and the most secure and efficient compiler system.
Later, Emma introduced logo design of Ultrain. The logo is based on the letters “U” and “I”, representing the idea that everyone are welcomed to participate in Ultrain’s community. In addition, Ultrain’s logo is based on fashionable and technical design with colorful elements, to represent the idea that Ultrain embrace people around the world with different cultural background, to create a friendly and harmonious Ecosystem community.
After that, the Ultrain team released the “Supernova” elephant mascot, emoji pack, APP and other accessories products. The “Supernova” elephant well captures the spirit of Ultrain, reflecting a stable and steady progress of the Ultrain team, while the small star on the top of the elephant represents “supernova”, a stage in Ultrain’s development plan and a target the team strive for. As a technology company, Ultrain hopes to be more approachable by the public, adhering to the spirit of participation and contribution by everybody, so that Ultrain can be better connected with its community. As a result, “Ultrain” hopes to be the world’s strongest, most recognized and favorite brand and platform through its Blockchain technology and ecological construction capabilities.
At this conference, Ultrain officially signed with the internationally renowned economist, Dr. Keyu Jin.
Dr. Jin is a tenured professor at the LSE, a Phd of Harvard university, and has taught in Berkeley and Yale in the past. She has an influential voice on the Chinese economy in the world, and have published in top academic journals as well as multiple opinion pieces in major newspapers such as the Financial Times. She has a column in Caixin and Project Syndicate. She is a recipient of multiple awards in economics and recently awarded one of the most prestigious grants on work related to bridging the Uk and China.
Dr. Jin was appointed as the Chief Economics Advisor of Ultrain. This is the first time for Dr. Jin to participate as an advisor in a Blockchain company. This cooperation between Ultrain and Dr. Jin represents a shared values and common interest between the two parties, and also indicates that both parties will join force and implement constructive ideas in the Blockchain economic system.
Dr. Jin delivered a speech as the Chief Economics Advisor of Ultrain. In her speech, Jin elaborated on how she studied the Blockchain from a macroscopic and microscopic perspective as an economist, and said that Blockchain technology would expand the scope of the economic system, support a variety of application scenarios, including the banking industry, the luxury goods industry, etc., and to promote healthy sustainable develop in economic ecology. At the same time, she believes that there are still some basic challenges in the Blockchain system, and economists have begun to consider ways to solve these problems, and Dr. Jin is committed to combining their understanding of the economic system and the engineering design advantages of the Blockchain itself for the society. Create the greatest value.
In addition, Dr. Jin also explained the reason for her to join Ultrain among many other Blockchain projects. Initially, she became aware of Ultrain due to her solid relationship with Ultrain’s co-founder Emma, after Dr. Jin understood the team composition and technical direction of Ultrain, she believed that Ultrain is undoubtedly a “dream team”. Ultrain has great human capital and established fundamental technology, and stated that she is honored to be a member of the Ultrain family.
This product announcement marks the official beginning of the third generation of Blockchain. Blockchain, as the latest technological revolution further promotes business to expand its boundaries and optimize its process, and it is rapidly bringing us into a new business society, where all things are perceived, all things are interconnected, and everything can be traded. Ultrain, as the representative of the third generation Blockchain system, promotes programmable commercial society through the breakthrough innovation of cryptography. Ultrain’s “Nova” is rising as we speak, making an impact in the world.
Read Dr. Jin’s Full Speech Below
In the past four decades, China has created a miracle. If the industrial revolution was considered a momentous event, it was because it raised the living standards of human being by 75% within one lifetime. In China, in our generation, it is conceivable that our living standards would rise by 75 fold.
The same kind of miracle is being created as we speak in a new realm of technology. The world of blockchain has the potential to fundamentally change how the economy and society will function. We can achieve even the unimaginable.
As an economist, I like to think about how the blockchain space can reduce into a series of economic problems; it is like reframing the whole field of economics to adapt to the new world of blockchain. Much has to be done, but much we already know. I find it fascinating because the vast range of issues will not only entail microeconomic subjects, such as contract theory, mechanism design, and finance, but also touch upon many macroeconomic theory, such as currency, monetary policy, and regulation. The beauty of the cross-field collaboration is that we economists already have a lot of the tools to think about and assess both the benefits and challenges of the design of this new world.
Blockchain technology will expand the scope of our economic system, and enlarge the pool of participants in that system, as well as resolve many issues that the traditional economy could not resolve. So, unlike what many people think, it is not just about relying less on authorities and institutions and intermediaries which we don’t trust. It is also about raising efficiency and welfare by tackling inherent problems such as information asymmetry, collusion, moral hazard that the real world has. Because of these problems, the economy is laden with mispricings and distortions. Many potential participants may be excluded from participation. But blockchain technology can resolve that, and enlarge the space in which contracts and collaborations may be made.
In the future, blockchain technologies can trace consumers’ transaction and credit histories. Banks can use blockchains to trace interbank loans or manage their clients’ collateral; governments may also turn to blockchains to maintain land registries. Even luxury goods companies, for example Cartier, whose parent company is Richemont on which I am a board member, probably can use blockchain technologies in the near future. We need to know where the diamonds, the stones, the gold come from, trace it back to the mine or recycling plant. For watches that we have sold, we would like to trace the products’ afterlife, authenticate them, after-sales treatment of pre-owned repairs; we would also like to control parallel markets.
Like any major technology that has been invented in the past, engineering is only part of the story. There are still some fundamental challenges to the system that prevent it from being secure and scalable at a fast pace. We economists have already started thinking about these problems and ways to solve them. We need to combine the forces of our understanding of economic systems and the engineering design of that system to create the most value for society.
Let me say a few words about why I chose to be part of this team. Apart from my deep interest in this area, I am especially impressed by the team members of Ultrain. I met Emma a few years ago, and when she told me the thesis behind the technology and the team, I was very impressed. The first thing I look for in collaboration is the people, the human capital, and then after that it is the idea. Both they have come together in this dream team, and their passion and commitment to create tremendous value — -as the primary goal — -convinced me that it will be a great honour to work with them. Together we will think about not only the infrastructure and the technical design of the product, but also its applicability and value creation for society. It took electricity almost 25 years to exert its impact on society, and now we cannot live without it. There may be a day when we can say the same about blockchain.
Ultrain Team
The founding members of Ultrain own the world-class top-notch background of IT, cryptology, computer security, blockchain and finance, possess notable and international resources, hold abundant community operation experience.
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