Fusion: Partnership with Automotive eXchange Platform (AXP), Listing on Bittrex, Fusion Time-Lock video, Bariq Sikandari as Director of Partnerships
Biweekly update 18th February — 4th March
This is not financial advice.
February was a jam-packed month on all fronts for Fusion. Last week Fusion Foundation announced it has been chosen by the Automotive eXchange Platform to improve access to accurate consolidated data on millions of vehicles in the $2.8 trillion pre-owned automotive industry. The first step in the partnership is digitizing AXP’s current database of 10.5 million automobiles. This aggregated data enables information tracking, access, auditing and the industry transformation to a transparent and trustworthy paperless system. Also, Fusion adds Bariq Sikandari to the team as Director of Partnerships. Tech team keep making progress with development. During the last two weeks, they published Quantum demo and video on Fusion Time-Lock in which they showcase the versatility of Fusion’s time-based transaction ledger through a few simple use-cases. A summary of Technical AMA with Founder Dejun Qian and CTO Bret Schlussman which Fusion hosted last week was published in the official blog. Fusion’s FSN token has been listed on Bittrex. And the last, but not the least — Fusion community continues to grow slowly, social media dynamics show that it remains virtually unchanged. There are slight fluctuations in the number of token holders.
Last commits on public GitHub were made on March 2nd, 2019 in myfusionwallet repository.
‘Time-based transactions are not limited to sophisticated financial instruments such as futures or warrants. These transactions take place all around us in our every-day life’
In this video Fusion showcase the versatility of Fusion’s time-based transaction ledger through 5 simple use-cases:
- Crypto lending
- A future share in an assets value appreciation
- Smart locks for homes and cars
- Song licensing
- A share in future royalties for a song
Also Check out Fusion Quantum Swap and Create Asset demos to explore other innovative FUSION features:
Quantum Swap is a revolutionary peer-to-peer cross-chain exchange mechanism that is ahead of alternative swapping methods that exists in the crypto market.
With Quantum swap, any asset locked-in on the Fusion protocol can be seamlessly exchanged with any other trading pair on the network. The exchange is completely feeless, unrestricted and all the parameters of the swap are entirely controlled by the user.
Step-by-step guide: creating assets and management options.
- P-FSN Genesis Block Balances: Check out your P-FSN balance in the attached Excel spreadsheet.
- Relevant links for the PSN network:
- How to Get Involved, Test, Earn and Learn on the Fusion PSN, Plus Additional Information:
- Fusion hosted a Technical AMA (Ask Me Anything) in Fusion Telegram Channel with Founder Dejun Qian and CTO Bret Schlussman on the 19th of February 2019. Here is a summary of the conversation.
Some Q&A from AMA:
When will PSN 2.0 be released?
Bret: The vast majority of improvements to PSN 1.0 have been tested and are ready to be shipped. This includes:
- APIs for time-locks, asset creations, and quantum swaps debugged and improved
- Update to Ethereum 1.16 stable (now in position to merge with new Ethereums updates)
- Better block explorer api support integrated into the transaction data saved.
- Preparation for full feature wallet and asset gateway to be delivered
- Knowledge Centre for support and troubleshooting
- Api site coming alive at fusionapi.readthedocs.io
- Formal announcement of bug bounty and tech help rewards
The last section of PSN 1.0 that we need to resolve is the consensus engine. We are making good progress on this front and anticipate PSN 2.0 to be delivered soon. We don’t want to attach a date to this release yet.
What is the issue with the consensus engine and how long will it take to fix?
Bret: The final piece of the puzzle for PSN 1.0 is to update our consensus engine to prevent new forks in the chain. We are proceeding with further testing to find the best way to calculate difficulty and avoid merkle roots. The consensus code is isolated to three directories in the git repository.
When will partnerships get announced? What’s the pipeline looking like?
DJ: We are still anticipating a partnership announcement in February and are very close with a few others. Things are progressing very well on the partnership front.
Will there be a Testnet for hybrid consensus PoW and PoS together anytime soon?
DJ: Not for PSN 2.0. PoWs application is related to Fusion’s interoperability solution, DCRM (Distributed Control Rights Management). When DCRM is integrated with main net, we will transition to a hybrid consensus model.
Aren’t you worried that the network will behave unexpectedly, surely we should be testing hybrid consensus before going live?
DJ: We will be running on a two-layer solution and controlling two different type of assets. But yes, QA and code review, audit are necessary before main net and of course we have been testing internally and already begun this process.
Will there be an opportunity to earn rewards for non-technical specialists but ordinary people who don’t know how to maintain the node with PSN 2.0?
DJ: We will try to make maintaining a node easier and easier, we expect it to be significantly easier on PSN 2.0. On PSN 2.0 you will also be able to Quantum Swap P-FSN and time-locked P-FSN tokens for ERC20 FSN so there will be easy earning capacity for non-technical users.
Can you update us on how many developers are currently working full time at Fusion?
DJ: Fusion currently has 12 full time developers, 2 security consultants, a UX designer and a product strategy consultant. We also actively interviewing for a technical writer and QA engineer.
Will Trezor users be compensated for lack of support almost 2 months after launch of stagenet?
DJ: sorry that we don’t have this plan.
What is the one major thing that pushes Fusion above its competitors?
Bret: From a developers’ perspective, Fusion’s rich API environment drastically reduces reliance on highly technical, inefficient and inflexible smart contract writing. Time-lock, Quantum Swap and Create New Asset are simple API calls that are native to the Fusion protocol and easily accessible to developers. These innovative features can serve as the foundation for numerous Blockchain solutions across the finance industry and beyond.
Any plans for Dapp development on the Fusion platform?
DJ: we saw some big companies were building app on fusion.
Bret: Dapps are paramount, we are focused on building our development community. Current VM is being extended time-lock and assets ids. All Ethereum contracts will work natively.
Fusion Past Events:
- 27 Nov — Blockchain Summit Dubai 2018
- 1 Jul — Chainers 2018 Summit in Seoul
- 29 Jun — Meetup in Amsterdam
- 27 Jun — Meetup in London
- 14 Jun — Ethfinex Exchange Listing
- 31 May — Tesnet Release
- 16 Mar — AMA on Reddit
- 15 Mar — Design Contest Submission Deadline
- 11 Mar — SXSW Conference in Austin
- 22 Feb — Cobinhood Exchange Listing
Fusion’s FSN token has been listed on Bittrex and began trading on February 21st, 2019.
- P-FSN Genesis Block Balances: Check out your P-FSN balance in the attached Excel spreadsheet. Search (Command+F) for your public address, the corresponding number represents the quantity of P-FSN tokens that will be available to you in your Fusion PSN wallet.
From Fusion Whitepaper:
From Official Telegram group:
Rudy (@RkadSG, admin):
“No roadmap available yet, we are progressing with stagenet approximately December 10th 2018, then will launch mainnet according to the testing progress”.
Partnerships and team members
- Fusion selected by Automotive eXchange Platform (AXP) to bring data accuracy and transparency to $2.8 trillion pre-owned auto industry:
Fusion Foundation, a non-profit organization on a mission to build the ideal financial infrastructure, announced it has been chosen by the Automotive eXchange Platform (AXP) to improve access to accurate consolidated data on millions of vehicles in the $2.8 trillion pre-owned automotive industry.
The auto industry has long struggled with a lack of transparency and widespread information inaccuracies, from titling all the way through financing. Independent dealers, government agencies, including Departments of Motor Vehicles, insurers, financing companies and individuals lack a standardized and reliable means of sharing and authenticating information such as vehicle information numbers (VIN), make, model, title, sales and service history.
To address these challenges, AXP selected the Fusion operating system over other blockchain solutions for its unique capabilities, including:
- Native Digital Asset Creation — Eliminates the need for smart contracts to create digital assets with time/value controls. This substantially reduces development time and costs.
- Decentralization — The platform has no single point of failure, which means no one party controls the platform infrastructure. This facilitates the integration of disparate systems between multiple partners.
- Interoperability — Enables the free flow of data and value across any public and private blockchains including off-chain data centers.
- Security — Enables public data to remain open and accessible while proprietary business information and consumer data can be protected and secured.
The first step in the partnership is digitizing AXP’s current database of 10.5 million automobiles. This aggregated data enables information tracking, access, auditing and the industry transformation to a transparent and trustworthy paperless system.
“We chose to build our solution using the Fusion protocol due to its unique integration and interoperability features that can deliver the data consistency, security and transparency that are sorely needed today in the pre-owned auto industry,” said Max Kane, CEO of Automotive eXchange Platform. “Fusion is also the only blockchain solution we found that could support the innovative financing options that many of our other partners want to bring to market through our application.”
“We are thrilled to be working with Max and his team on their mission to fight fraud, increase data transparency and provide customers and dealers with easier, affordable access to financing,” said Fusion CEO and Founder DJ Qian. “AXP’s extensive experience in the industry combined with their current database of more than 10.5 million vehicles and 305,000 registered car buyers give me great confidence that Max’s mission can be realized.”
About Automotive eXchange Platform
With existing assets of 10.5 million vehicles and 305,000 registered car buyers, the Automotive eXchange Platform (AXP) is an automotive blockchain ecosystem servicing the needs across private and government run organizations. Through AXP, independent dealerships are empowered with an alternative, cost effective way to list vehicles for sale and gain access to financing for their customers. Moreover, government agencies can leverage this data across multiple organizations including Department of Motor Vehicles, Department of Transportation, Law Enforcement and Taxation. In turn, this improves the buying and selling experience of both consumers and dealers. For more information, visit www.axplatform.io.
- See also 2 Crypto Startups Want to Put 10 Million Used Cars on a Blockchain on Coindesk:
The Fusion Foundation, and the Automotive eXchange Platform (AXP) are joining forces to bring the U.S. second-hand car market and its insurance and financing to a blockchain. The first step in the partnership, according to an announcement, is to integrate Fusion’s blockchain platform and digitize AXP’s current database of 10.5 million automobiles, so they can be properly tracked and audited.
Bariq’s focus will be on leveraging his network and business development skills to engage new partners across the private and public sectors. Additionally, Bariq will aim to improve the liquidity of the FSN token and has already begun negotiations with top tier exchanges.
A keen entrepreneur and salesperson, Bariq launched his first company at age 17 in the Event Management space before transitioning to Real Estate, where he ran a successful property development business.
Following his introduction to Bitcoin in 2015, Bariq became fascinated with its underlying blockchain technology. After tracking bitcoin and networking in the cryptocurrency and blockchain space, Bariq was well positioned to assist blockchain projects in business development and fund-raising in 2017. During this period, he also became an active contributor and token holder to numerous crypto projects, including Fusion. Bariq believes that blockchain technology will likely disrupt the Finance sector, and Fusion’s unique technology will become a leader in this transformation.
Bariq is particularly passionate about the implementation of blockchain technology into governance models, especially around expanding the financial opportunity for individuals living in third world countries.
In 2018, Bariq worked closely with a few South Asian governments to facilitate the introduction of blockchain technology to their infrastructure.
Over the next few months, Bariq’s goals at Fusion are three-fold:
- Building and growing Fusion’s ecosystem with new partners and governments who develop applications on top of Fusion’s protocol.
- Assist in obtaining listings for FSN on top exchanges around the world.
- Increase engagement of blockchain within government technology departments.
- DJ Qian — @djqianfusion on February 25th 2019: “Very excited to be partnering with AXP to take on the $2.8 trillion pre-owned auto industry, starting with the #digitization of 10.5 million automobiles on the @FUSIONProtocol. We look forward to working together with AXP to being real #value to the industry”
- @YonaTak (admin): “Main net will go live after PSN, we are in the process of testing and improving the PSN network. I can’t attach a date to main net. We have a plan internally on when we think main net launch will happen but at this stage we are not ready to make any announcements or commitments”.
- ICO projects Mainnet&Testnet progress report, 2nd episode by CryptoDiffer. This article covers some of the ICO projects that conducted their TGE in 2018/2019 including Fusion.
Social media metrics
Twitter — Average number of retweets is 30–60 for one post.
Fusion Community Twitter — since October 19th, 2018.
New social media channel — FUSION Developers Announcements Telegram (since 31st December 2018): 171 followers (January 15th, 2019 ), 174 ( February 12th, 2019).
Facebook (till May 2018) — announcements, 10–15 likes, 1–2 shares.
Bitcointalk.org — since January 20th, 2018. Last post — on March 03, 2019: latest news, price, etc.
Fusion forum. Popular topics:
The graph above shows the dynamics of changes in the number of Fusion Facebook likes, Reddit subscribers and Twitter followers. The information is taken from Coingecko.com.