MOAC Ecosystem Project Yikong Chain has Won the Outstanding Project Award

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MOAC

2 min readOct 19, 2018

The Preliminary round for the 3rd China Blockchain Technology and Application Competition (Beijing), held at Qinghua University, came to a successful conclusion on October 16th. Yikong Chain won the praise of the judges and capital elites for the revolutionary commercial blockchain solutions that it provides, solving difficulties currently facing the retail industry. The project won the “3rd China Blockchain Technology Competition Outstanding Innovative Application Project” award, entering the Guiyang finals with high marks.

The unique advantages that blockchain technology provides are precisely what gives Yikong Chain the opportunity to revolutionize China’s retail industry, and Yikong Chain has firmly seized this opportunity. Using MOAC’s lower-layer public chain, Yikong Chain is the first of two domestic economic application models to be fully implemented.

1. Transactions are conducted using tokens. In the ordering model for retail stores using the Yikong Chain, goods are purchased automatically according to transaction power, thus obtaining Yikong Chain system tokens — Yi Points (YIP). Store owners can then use YIP to re-purchase merchandise on the Yikong platform, forming a complete commercial cycle.

2. The “passenger-imported goods” economic model invented in the blockchain industry to resolve problems with large token price fluctuations.

With the advent of e-commerce and the Yikong Chain, the cost of attracting traffic, obtaining accurate market data and establishing innovative business models is much cheaper, creating an industry-wide transparent and non-tamperable data platform. Through system tokens — YIP, all upstream and downstream retail industry participants are linked to an equal and fair platform, allowing them to directly interact with one another. This will inevitably lead to more commercial innovation. In one fell swoop, the “Big Business” commercial cycle was broken, greatly promoting the efficiency and healthy development of the Chinese retail industry.