Hot Blockchain Topics at China’s 18th Internet Conference
Beijing, July 11, 2018 — Larry Liu, founder of Genaro Network and CEO of Jiluo Technology, attended the 18th China Internet Conference held at the National Convention Center in China’s capital city. The conference theme translated as ‘Integrating Developments and Synergizing Governance to Lead a New Era, a New Journey and a New Momentum’. The Ministry of Industry and Information Technology, the National Internet Information Office, and the China Internet Society all co-directed the event and the talks.
The number of participants exceeded 700, including blockchain investors, projects leaders, entrepreneurs, experts and scholars. Among them, more than 20 big-name guest speakers attended. The conference also attracted nearly 100 media professionals to cover the speeches. The Blockchain Industry Development Forum took ‘Blockchain technology application’ as the core concept along with ‘Blockchain industry development’. Discussion encompassed both the global development trend of blockchain and the new opportunities it brings for China.
Xiaoli Wang, Secretary of Discipline Inspection Committee of the China Academy of Information and Communications, and Xubin Li, COO of Jinse Finance, delivered the opening speeches. After that, multiple speeches were delivered by guest speakers, including Weide Cai, an expert in the ‘Thousand Talents Plan’ of the Organization Department of the Central Committee of the CPC and Honorary Dean of the CCID (Qingdao) Blockchain Research Institute. Dao Yuan, Director of the Zhongguancun Blockchain Industry Alliance also spoke, as did the founder of Tongzhengpai, Hongfei Da, the Founder of NEO and Onchain, Lihua Yi, the Founder of Liaode Capital, Zhen Huang, the Dean of Financial Law from the Central University of Finance and Economics, Chu Shuai, the Founder and CEO of Qtum, and Shen Yu, founder of Fpool.
Larry’s speech was ‘The Seven Major Challenges of the Public Chain and the Genaro Solution.’ An important argument he shared was that every revolution in technology should meet the needs of the market–no more and no less. Currently, with many projects seeking blindly to improve TPS without paying close attention to the real status quo of the market, significant obstacles to development are not being overcome.
Larry mentioned the “impossible triangle”: according to this, efficiency, security and decentralization are not resolvable all at the same time. To upgrade any single indicator will inevitably affect the other two. In order to get out of this trilemma, what each project needs to think about is to see which one can be de-prioritized according to the market’s demands.
After the speech, Larry accepted an interview with Jinse Finance. The questions were mainly about Genaro’s philosophy and technical advantages, the positive changes that Genaro and its partners can bring to the blockchain industry, and the future outlook and community building of Genaro, etc.
Genaro’s goal is to create the world’s first dual-strata smart data ecosystem that combines a public chain and storage network. The upcoming testnet will lay the groundwork for the mainnet in the fourth quarter of this year. The ultimate goal of these efforts will be to provide everyone with a trusted Internet, connecting the real world and the blockchain world through data.
About the Internet Conference
The Internet Conference is a well-known conference in the Chinese Internet industry and has been successfully held for 16 years. The organizers’ professional attitude and attention to all things cutting-edge have led to their event becoming the largest and most esteemed annual meeting in China.
About Genaro Network
The Genaro Network is the first smart data ecosystem with a Dual-Strata Architecture, integrating a public blockchain with decentralized storage. Genaro pioneered the combination of SPoR (Sentinel Proof of Retrievability) with PoS (Proof of Stake) to form a new consensus mechanism, ensuring stronger performance, better security and a more sustainable blockchain infrastructure. Genaro provides developers with a one-stop platform to deploy smart contracts and store the data needed by DAPPs simultaneously. Genaro Network’s mission is to ensure the secure migration of the core Internet infrastructure to the blockchain.
