TEEX @Israel: A Witness to Israel-Asia Blockchain Cooperation
TEEX Panel highlights: Blockchain in the academy
Declassify top companies in Israel Blockchain industry
From 31st July to 1st August 2018, TEEX was invited to the Israel-Asia Blockchain Summit, hold by Block72 and AIBA (Asia Israel Blockchain Association). The event was aimed to bring increased blockchain technology adoption into the mainstream, as well as to build the bridge between Israel and Asian blockchain markets.
Regarded as one of the top-tier blockchain projects in China, TEEX took this chance to communicate with leading players both from Israel and China blockchain industry. This global presence helps TEEX better introduced its trusted operating system and expanded partners and investors both from Israel and China markets.
Yubin Xia, co-founder of TEEX, together with Tal Dekel, BOSCH’s senior technology scout and Eitan Katchka, CEO of MaterialsZone, hosted the panel focusing on “Blockchain in the academy”. Xia explained the design of TEEX’s trust model and how its combination with blockchain protects the privacy of data and computation.
Tal: Why do we need distributed ledger or blockchain?
Yubin: Talking about the distributed ledger, I think the value is trust. Because we cannot trust a single point of a centralized institution, if we have a huge number of nodes join the network, what we trust will be totally different from a centralized one.
Tal: What is the core issue that you are trying to solve in trust?
Yubin: Our project is focused on how to make trust preserved in a better way. And my own research topic is to protect the devices and isolate them from attacks. Actually, TEEX is not my first startup, my first startup is to offer mobile vendors operating system for fingerprint checks. Today we’d like to offer computing power in the “fingerprint part” of your phone, laptop, pc, and even server. We think by offering a very small trusted operating system on the devices, we can fundamentally change the lower layer of blockchain and make much more interesting things happen.
Tal: I’m not sure if some open-sourced database with lots of users, like MongoDB, can solve this problem?
Yubin: I don’t think so. If you use MongoDB to save more data and offer data service to end users, you still need to trust the owner of the MongoDB server. If the owner changes the data in the server, you’ll have no idea how to prevent that. But with using our system, all the data are actually stored in a black box of your devices, including your laptop, pc, mobile phone and server. Anyone cannot tamper the data or processing code within this black box.
Tal: You discussed your idea from the academy and research on raising trust degree. What’s the imagination of blockchain to revives those areas so that to make something interesting?
Yubin: I think the most important thing is that blockchain actually merges incentive economic mechanism to technology, which is the smartest part of the system. In my lab, actually, we have done a lot of researches on distributed systems, for example, consensus systems. But by using blockchain, the consensus problem can be partially solved by the economy, I think that’s the key point of the success of tokenomics in the blockchain.
During the summit, TEEX co-founders visited the top blockchain companies in Israel and talked with their CEOs and technology managers. The target companies included Israel unicorn eToro, a social trading platform in top stocks and ETFs, with $160 million received funding; ironSource, a digital content company valued at more than $1 billion; Coinmama, Isreal’s largest Bitcoin and Ethereum trading platform and Algoz, a solution provider for liquidity in the cryptocurrency ecosystem. TEEX is looking forward to better cooperating with Israel technical companies.
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