On the afternoon of August 18th, the blockchain cross-chain mechanism and application ecological exchange conference, guided by BBAA, and supported by the Blockchain New Financial Laboratory, sponsored by Wanglu Technology and Wanchain, was successfully held in Dalu show hall Zhongguancun Taiku Technology.

Lu Xujun, Founder and CEO of Wanchain, Zhang Weijia, R&D Director Mr. Yang, Vice President of Products, Zhang Wanting, Overseas Market Director of Theia Wallet, Wang Jingyu Kronos CMO, Lu Xiwei, Development Partner of TokenLoan Community, Li Lishi, Litex CMO, Meng Hongwei, Founder of Themis, and other guests attended this exchange conference and shared on the conference topics.

Cross Chain is the Cornerstone of Connecting Future Numbers

The cross-chain problem is essentially the solution to the accounting problem when the same asset on two accounting books is transferred.

From ancient money institutions to modern banks, each has separate accounting books. When their customers transfer assets between different banks, different banks need to solve the problem of accurate accounting of two books. In essence, the central bank's clearing system, third-party payment, UnionPay and other institutions are solving the above problems from different dimensions (in centralized way), and the existence of R3 is also to establish a set of blockchain mechanisms to solve the above problems. Therefore, the accounting problem of assets transferred in different scenarios is the most basic problem of finance, and it is the premise of all financial business development. It is the analogy of the blockchain world. The pan-financial application innovation and cross-chain clearing ability in the digital world have closely related.

In the Ethereum white paper, Vitalik also mentioned that one of the most important application scenarios was financial derivatives or financial contract applications, which is one of the most valuable applications for smart contracts.

Only through the emergence of a large number of competition chains (whether public or alliance chains), will the digital or traditional on-chain financial assets be allowed to exist on multiple different chains, which is the basic accounting book difference of bookkeeping. In this case, the prerequisites for digital financial innovation not only include the smart contract but also need to add the distributed clearing capabilities (cross-chain capabilities). Otherwise, the application scenario based on smart contracts will be very limited. From the application point of view, only by solving the problem of value transfer, the financial innovation value and network effects of the blockchain will be more significant.

In the sharing, Lu Xujun specifically mentioned that in the short-term, cross-chain technology would build a variety of public chain value circulation channels to help achieve financial and related business innovation based on a variety of digital assets (tokens), in the long run, they can bridge up these two parallel worlds the tradition assets on chains and digital assets, to link up the alliance chain and the public chain.

At present, the development of blockchain technology in two areas the traditional assets on chains and digital assets which like two parallel worlds. In the long run, the socio-economic changes brought about by the blockchain will always bring these two parallel lines together. Blockchain is the core infrastructure of value cyberspace, and blockchain applications should not be limited to and stop in the digital assets arena. From a technical point of view, whether it is the commercial alliance chain represented by the traditional asset chain, or the public chain project represented by the stable currency and virtual asset chain, or even the sovereign public chain represented by the national digital currency, they all need the support of cross chain capabilities to ultimately exert their greater commercial value and more innovative applications. At present, the development of the alliance chain has the problem of fewer effective nodes, less decentralization, and insufficient decentralized endorsement. If it can communicate with the public chain and enhance the endorsements of each other, the resulting value superimposition will be greater. We need cross-chain technology to connect and expand different blockchains to build highways with value networks.

Cross-chain technology has realized wide application

At present, many blockchain projects including Polkadot, Cosmos, Wanchain, etc. are exploring and researching cross-chain technology. In the past July, Wanchain officially launched the 2.0 main network, which realized the docking of Ethereum cross-chain links. According to the plan, it will lunch the main website of cross-chain bitcoin version 3.0 in the end of this year. In the future, the alliance chain will be opened up and interconnected with traditional financial assets.

With the application of cross-chain technology, the blockchain programmable economic ideas will be realized. Wanchain Ecology has its application in the multi-asset wallet tool Theia, the Medical Token fund project HPPO for the medical field, the prescription drug tracking application BlockMEDX, the investment strategy fund KRONOS, the fund platform ChainFund focused on blockchain investment, the stable currency Freedium with the targets on Africa, Southeast Asia, the decentralized exchange Idap, digital asset pledge and loan application Tokenloan, chain expansion and cross-chain communication lightning network Litex, the decentralized "Alipay" Themis and so on.

Zhang Yuting, Overseas Market Director of Theia Wallet, Wade Cui, HPPO founder, Wang Jingwei, Kronos CMO, Lu Xiwei, Development Partner TokenLoan Community, Li Lishi, Litex CMO, Meng Hongwei, Themis founder and other guests shared the innovation ideas of blockchain application from their own product perspectives.

Zhang Wanting, Director of Overseas Market, Theia Wallet

Theia Wallet is a multi-digital asset management wallet based on cross-chain technology. It is also a mobile light wallet of Wanchain. Theia wallet is used as a traffic portal to provide user management assets and ecological application solutions for all public chains and Dapp project parties. Theia wallet not only has a breakthrough password account and decentralized account dual-track operation system, to meet the different users’ habits and needs at different stages, but also a one-stop application management platform for digital asset ecology, supporting all WRC-20 and ERC- 20 digital asset management. As cross-chain technology continues to mature, Theia will support more mainstream public-chain digital assets.

HPPO Founder Wade Cui

The HPPO Medical Token Fund is a medical venture capital with early-stage R&D corporate equity as its underlying asset. Smart contracts are used for post-investment management, which allows industry experts to form long-term benefits with projects and to coordinate project parties to resolve potential technical obstacles. In order to achieve transparency in investment business, the fund management, project progress, experimental results, and business development and the other relevant information will be disclosed in real time. Asset liquidity, lower transaction costs, and a convenient benefit distribution mechanism give investors the opportunity to capture high returns in the healthcare industry. Our long-term goal is to shorten the development cycle of new drugs, to reduce overall costs, and to increase the approval rate of innovative drugs.

Kronos CMO Wang Jingwei

KRONOS is a digital asset management ecosystem comprised of top trading teams from around the world that leverage traditional hedge fund strategies to profit from the digital currency market. KRONOS hopes to build distributed management of the asset management ecosystem and to eliminate the barriers for the acquirement of high-end strategies among retail investors. Blockchain technology plays an important role in it. KRONOS has created a unique dual-pass model: a practical pass for core trading strategies that benefits from the network effects and is independent in every mature trading strategy and functional asset-based ctoken. This structure gives KRONOS great flexibility in the development process, has a unique appeal in investor types and jurisdictions, and creates an important long-term value.

Eward Evenson, introducing ChainFund, Freedium, BlockMEDX, and IDAP

TokenLoan Community Development Partner Lu Xiwei

TokenLoan is a digital asset lending network that solves turnover problems for multi-asset holders, and will realize the digital wallet based on the Wanwei chain and digital asset pledge lending. Users on the WAN can easily solve the turnover problem and realize long-term value investment on the TokenLoan pledge lending platform.

Litex CMO Li Lishi

LITEX is a decentralized value exchange ecosystem, based on layer 2 technology, it can realize chain expansion and cross-chain communication, and solve the core pain points of the low efficiency blockchain industry main chain and the public chain islands. The LITEX value ecosystem can carry the upper-level applications such as micropayments and decentralized exchanges. It opens up the underlying functions through the API layer, establishes a rich value exchange ecosystem, and connects the digital world and the real world to form an infrastructure which connects the future of blockchain world.

Themis founder Meng Hongwei

Themis is a blockchain-based digital asset escrow infrastructure that addresses the issue of fair exchange with the medium of digital assets and is positioned as a decentralized “Alipay” of digital assets. Themis uses cryptography-based group hosting mechanisms to solve fraud, single-point failures, hacking attacks, etc. in digital assets through blockchain.

It is understood that this event attracted more than 100 people including technology developers, blockchain entrepreneurs, investors, and other technology enthusiasts. After the meeting, the “Blockchain Cross-Chain Mechanism Details Wanchain Cross-Chain Mechanism” report prepared by the Wanchain group has excited many comers.

（Source:Wanchain）