During the recent World Economic Forum in Davos, the “2019 Global Blockchain Summit” was officially held and the “2018 Best Blockchain Industry Application Award” was presented at the conference. DataQin (https://en.dataqin.com/) won the award with its excellent public blockchain project “SimpleChain”.

The “2018 Best Blockchain Industry Application Award” aims to gather more blockchain developers, explore the combination of various industries with the blockchain technology, and promote the continued innovation of blockchain applications.

The award was established by the China Blockchain Application Center and were selected by an expert committee organized by the China Blockchain Application Center. The expert committee consists of blockchain application users, government authorities and academic researchers, for having objective and fair judgements. The authority and impartiality of the awards are recognized in the industry.

Despite the massive drop in market price from a year prior, blockchain and cryptocurrency are still the important topic of the Davos Forum. The World Economic Forum Annual Meeting 2019 in Davos has focused on “Globalization 4.0: Shaping a Global Architecture in the Age of the Fourth Industrial Revolution”. Sheila Warren, head of the blockchain of the World Economic Forum, believes that blockchain technology is the foundation of the fourth industrial revolution. “We see the blockchain as a fundamental technology. When scalability is achieved, decentralization can increase equal opportunities and address personal autonomy in terms of data in a more humane way,” Sheila Warren said.

SimpleChain is a public chain with a design goal to build a simple, usable and easy-to-use distributed chain net that truly promotes the formation of a distributed digital economy. The most notable feature of SimpleChain is the double-layered structure. Its main chain’s underlying consensus has been set as the Proof of Work with innovative algorithm. The primary goal for the main chain is to secure the unification and finality of distributed ledger data. Moreover, the flexibility could be provided by a second layer on top of the Main Chain, which is called Sub Chain. Meanwhile, the Sub Chain is customizable for any specific consensus algorithm for applications. As a Sub Chain, apart from the blockchain head, transaction data structure is also flexible in different cases to maximize the compatibility of the SimpleChain.

“We hope that simplifying the procedure will bring different services and experiences for the blockchain ecology,” said Leo Yu, core member of the SimpleChain Foundation.

Wang Wei in the panel discussion

According to the advisor of Chinese blockchain delegation and chief advisor of China Blockchain Application Center Wang Wei, China has a broad market prospects in the application of blockchain, as well as a large number of young and innovative talents.

Overall blockchain has an amazing potential to kick start a new economic revolution on a massive scale and SimpleChain will devoted itself into building a new ecosystem in the digital era through promoting its technology.

Media Contact
Company Name: SimpleChain Foundation
Contact Person: Angie Zhang
Email: Send Email
Country: Singapore
Website: www.simplechain.com