Live from JRR Consensus Live Community

Ivan Jiang (CEO of Merculet): Tokenized operation is the most advanced productive force

Published in

Merculet

9 min readJul 2, 2018

At 8:00 pm on June 29, the CEO of Merculet came to JRR Consensus Live Community to share his experienceand insights towards how to utilise tokenized operation, the most advanced productive force to help entrepreneurs embrace Blockchain technology, and how to facilitate enterprise growth. Over 100 media and community users participated in the live broadcast.

The following questions are the essence from the live broadcast.

Moderator: Qian Li from JRR Crypto

Guest speaker: Ivan Jiang (CEO of Merculet)

Question 1:

Li: Internet-based and Internet+ companies are driven by strong demands, but they also face various and complicated application scenarios. Mr Jiang, what are the logic behind the ready access function? Are data layer and terminal application layer connected by plug-ins? In face with the current application scenarios, will Merculet take steps to open up or has universality already been achieved?

Ivan:In a nutshell, Blockchain has two key facets: productive relations and production efficiency. Merculet focuses on the revolution of productive relations and how to offer better solutions to boost productive force for companies.

We believe that tokenized operations will be the image of the new most advanced productive force. This can be seen from the relations between Bitcoins and miners, and such relation is different from the model where middlemen helps sellers and buyers to complete a deal. In the circumstance of Bitcoin, miners have formed trusts towards the coin. Satoshi Nakamoto summons plenty of users to voluntarily spend their time and electricity to find Bitcoins, and it costs him nothing. It is a productive relationship based on agreement from where we can extract a typical three-step process of tokenized operation: the first step is to issue tokens, the second is to establish trusts, and the third, build an ecosystem. We want to provide the most convenient tools to each of the three steps. It forms a new way of stimulating growth, and all companies and individuals shall open their arms for it. From this perspective, we are offering entrepreneurs approaches with which they will form their own ecosystem.

Question 2:

Li: It is no secret that public chains have inherited some flaws and are rather limited. We know that Merculet is not a public chain, and it adopts a combination of public chain and consortium chain. Could you tell us in detail why did Merculet choose to start from consortium chain? And, compared with the advantageous multi-chain and multi-assets structure, what are the shortcoming of Merculet. Or, are there any mismatch regarding supports and users’ demands?

Ivan: I started my career as a programmer, and I also worked as a product manager, so I understand that each system has its own duty. Public chains were not designed to provide solutions for companies but to illustrate people’s pursuit of freedom and decentralisation. Therefore, to a certain degree, public chains follow a different pathway. First people reach achievement, then they begin to exploit and speculate. For both resource optimisation and allocation, even from a constitutional point of view, you can see many prints of nations and societies.

Recent attention from the whole society has forced public chains to come to front-end application scenarios. However, seeing from the need of companies (such as reaction time, GAS fee system, and collaborative interfaces among companies), no matter it’s management models, operation models, or stabilities, the transformation of public chains is far from ideal. Under such circumstances, we are taking initiatives to solve real problems faced by millions of internet companies. We know that the journey towards token-based operation is dotted with hurdles, hence the combination of two type of chains. The combination is based on big data, consortium chains, inter-chains, and the Ethernet. Since May 11, the combination, as a primary structure, has been serving users in large scale. Having successfully met users’ needs, we are now on our way of upgrading it into the second generation. Had we chosen public chains, users would wait years to see their need fulfilled.

Currently there is no mismatch between users’ needs and Merculet. However, we do quite find ourselves too busy. Given the enormous needs from users and our fast iteration, the works for our members of staff are piled up. Let me give you one example. In the process of serving companies, we have derived some owners of communities. They can conduct token-based operations utilising our technology. I once banteringly said that we could issues some tokens in Wechat groups and operate those groups in a token-based manner. If the iterations happen too fast, the updates of instructions and descriptions sometimes cannot keep up to speed, so there will be some explanation to make to the users. About issuing tokens in Wechat groups, we are running trials with some group leaders. We adopt the same method at the internal product launch event on June 23 to help attendees build trust.

Question 3

Li: Merculet launched its product more than one month ahead of schedule, and some case studies have been presented at the internal product launch event where you mentioned that token-based operation will become the most advanced productive force. How should we perceive your remarks? Could you please tell us the development plan of Merculet?

Ivan: The three-step process of realising token-based operation must be based on tokens which are deemed as trust-worthy credentials utilising Blockchain technology. We cannot build trust without tokens, let alone ecosystems. For instance, say that we have made a deal, and if the deal was made using centralised distributed credits, it would not be able to form trust between you and me without meeting in person or to facilitate free access. However, with the Blockchain technology, the token will be yours once the deal has been competed, and there will be no downtime. As long as you believe in what you are doing, you can utilise your capabilities to participate in building an ecosystem. In other words, you can earn tokens if you work hard enough. You cannot say you have grasped the essence of “the most advanced productive force”

Here is the development plan for Merculet.

In phase one, we help companies to complete the transformation to token-based operation.

Tokenized operation is by no means the same to token-issuing. The latter is relatively easier. But what happens after the issuing? I mentioned earlier that token-based operation has three elements: tokens, trusts, and ecosystem. For each step, we have to solve specific issues, such as the strategies of issuing tokens, how to auto-assess daily contribution of each user, which hash model to apply to auto-issue tokens for users, what are the privileges that users can get from tokens, and many other issues. We have finished this phase. Boqii.com and Beestore, two of our client companies, have gained significant growth.

Phase two: build an open platform. Currently we are conducting optimisation and close beta tests, and we will continue to make it our focus in the next period.

The future society will be composed with IDs of Blockchains, tokens, and data. Token refers to the incentives users gained in various scenarios. All business models, game, advertisement, e-commerce, and content designing will be disrupted and renewed. In the new models, we will endeavour to provide as many interfaces and application scenarios as possible. At the same time, we need to partner with elites. For example, we would join hands with good game developers and service providers to build the entire ecosystem. In fact, the open platform is to tokenise the world then include more parties.

Last but not least, we can see our plan from two perspectives.

In terms of clients, there are three core categories: Internet/mobile Internet companies, communities, and KOLs. To adopt a global angle, we deem ourselves as an international company since day 1. So far, we have landed in Japan, the U.S., and Europe, and we hope to step up under the help of communities.

The following are questions from the media:

Question 1：Mr Jiang, what trigger your passion for establishing your own company, and why did you decide to embark on Blockchain technology and establish Merculet?

Ivan:I’m quite passionate about starting my own business. When I saw others creating BAT so effortlessly, I thought I could do the same. But not until you are building your own business will you realise that it’s so much hard work. With more experience, I have made progress, and now I feel much better. About why did I decide to establish Merculet, it is actually rooted in the experience I accumulated from using technology to help APP developers to gain more users. Two products might be used by thousands of APP, but the reality is that the traditional Internet has reached its ceiling for entrepreneurs — it has become an arena where channels matters the most and resources are hoarded at the top. That is why I want to break through and decided to utilise the potential of Blockchain technology in disrupting the reality. Other entrepreneurs also need to find new forces to join the cause, and we are ready to provide them with the sharpest weapons. Together, we will rewrite rules and orders for a new generation of Internet.

Question 2: What role has JRR been palying along with the development of Merculet? Faced with increasingly fierce competition, how will Merculet maintain its core advantage? Do you have any advice for other entrepreneurs in Blockchain business?

Ivan:JRR and Merculet is actually a good match. Mr Bear is an expert in marketing, including overseas operations, and now JRR is building a comprehensive ecosystem, and Merculet is an ecosystem-driven service provider, so the two of us is a perfect match. Please join us in the expectation for the result of our powerful combination. Faced with fierce competition, I think Merculet must stay keen. We need to march at full speed, and we shall make sure we serve all people, which is our goal. For other entrepreneurs who wish to join Blockchain industy, my words for them would be “spare no efforts” and “choose your partners wisely”. We have been eager to welcome elites to join us, please read our articles for more information. Also, anyone who recommend talents to us will be rewarded.

Introduction of JRR Consensus Live Community

The JRR Consensus Live Community is launched by JRR Crypto. The program regularly invites founders of eye-catching start-ups to share their views. The Live Community has one main group for live streaming and branch groups for rebroadcasting. The main group is consisted of over 100 media that are in the frontier of Blockchan technology, covering over a million audiences. Branch groups hold JRR supporters and include Wechat communities of JRR’s partners. To help media broadcast the discussion in forms of photos and words, the main group is the arena for live streaming, and branch groups can rebroadcast the interview. So far, the media who join the newsroom has covered every corner of Blockchain industry.

Headquartered in Switzerland, JRR Crypto Group is one of the pioneers who embarked on Blockchain industry and cryptocurrency. The Group conducts a wide array of business, covering incubator for Blockchain projects and industrial parks, business consultancy, Blockchain media, investment banks, Blockchain industry funds, digital currency exchange platform, Secondary Transaction of digital currency, and digital assets management. For each of the eight fields, JRR Crypto has made specific investment strategies and development plans.

The JRR Crypto Group has completed more than 40 early investments of blockchain projects and ecosystem, including but not limited to: the world’s largest digital currency trading platform — Binance, blockchain investment intelligence platform — TokenGazer, China’s first EOS-supportive blockchain cold wallet — DRSafe, blockchain risk hedging platform — Global Risk Exchange, blockchain technology development company — Ganqu, virtual gaming asset trading chain — WAX, the world’s first EVM-supportive mutil-chain system — PChain, high-capacity peer-to-peer transactional system — QuarkChain, decentralized big data and machine learning network — DxChain, ORS and MSC etc.

About Merculet

Positioned as the Chief Growth Officer of Global Entrepreneurs, Merculet is committed to helping Internet enterprises achieve tokenized operation quickly through out-of-the-boxturnkeysolutions, creating more quality products for companies and users, and redefining production relationships.

As a portal for millions of Internet companies, billions of internet users, and budgets worth hundreds of billions of dollars to enter the era of blockchain, Merculet hopes to work with global strategic partners to restructure the entire Internet’s traffic before fully realizing distributed commerce.