TOKYO--(BUSINESS WIRE)--Blockcloud, a service-centric blockchain network system for the “Internet of Things” (IoT), was unveiled yesterday at the Genesis CAT Meet-up in Tokyo, Japan.
Blockchain has taken the world by storm. With more than 3,500 startups and a 40% year-over-year growth rate, the global blockchain market is expected to reach a value of US$ 14 billion by 2022. However, this tumultuous growth comes at a price: the “gold rush” towards blockchain has attracted all sorts of self-styled “experts” and the risk of speculation is very high. In addition, the technology behind blockchain research often appears too complicated for the average investors.
Therefore, the Genesis CAT Meet-up was created. This roadshow event, organized by Genesis Capital in collaboration with Node Capital and Manzi VC, aims to promote high-quality teams and projects from the blockchain research community, while also increasing awareness on the most advanced blockchain-related technologies.
Blockcloud and its team led by Zhongxing Ming were chosen as one of the top projects to be introduced during the Genesis CAT Meet-up this year. Both the value of the project itself and the caliber of the scientific team behind it contributed to this decision.
Blockcloud is an innovative network architecture for IoT, which ingeniously puts together blockchain technology and a service-driven networking system to solve the bottlenecks of modern IoT applications. The result, as Zhongxing Ming explains, “is a decentralized, secure, fair and sustainable platform for the IoT”.
Its principles are thoroughly described in multiple papers published on major academic journals. The team behind this remarkable work is composed of scientists from top institutions such as Princeton, Tsinghua University, and Tokyo University, advisors from China, USA, Japan, and the Middle East, and partners such as Morgan Stanley, BAT, and Huawei. The technical team includes members of China Computer Society's blockchain committee who participated in the development of the standards for China's next-generation Internet. Boasting over 50 papers at top academic conferences and on journals (referenced 400+ times), and 80+ patent applications, they had established industry-leading companies in the fields of smart hardware, serving around 5 million end-users and collecting more than RMB 40 million (US$ 6.3 million) in financing.