On the "chain" real economy, how does Lava do it?

"Making machines of trust." When The Economist first reported on blockchain in 2015, it was likened to it. The blockchain has established a complete set of traceable, non-modifiable decentralized distributed ledgers based on cryptographic methods, relying on a unique consensus mechanism and incentives to quickly establish trust between originally strange and full of suspicion. To reduce mutual trust costs. Based on this, the decentralized and non-licensed business model is changing the coordination mode of social business and economic activities again, and it can break the line between maximization and cost efficiency.

The transparency and immutability of the blockchain have given it the "trust" attribute. As a result, all industries seem to be able to put on the blockchain, just like the popular "Internet +" in the past, but this is not the case. When the banner of "blockchain +" is held high in China, when we are discussing the combination of blockchain and the real economy, what are we talking about?

The Internet addresses the transfer of information, and the blockchain addresses the transfer of value. Since the birth of the blockchain, there are about 22,500 domestic companies involved in the development and service of blockchain technology, accounting for about 5% of the world. From less than 80 in the beginning, to more than 800 in 2016, it has grown to more than 15,000 in 2018. The application scenarios of blockchain in China include more than 50 application scenarios such as finance, cross-border payment, content services, forensic authentication, social affairs, and government affairs.

Among them are some companies that use high-level technical concepts, but in fact they have been fooled, and there are also companies that really want to implement the blockchain. For example, some companies use blockchain to solve the problems of traditional supply chain finance, to achieve standardized on-chain processing of valid information such as accounts receivable and credit data between individuals, and to improve the existence of traditional supply chain finance, such as the difficulty of improving loans for small and micro enterprises. In Guizhou, Guangdong and other places, blockchain technology has also been involved in public welfare; in the public sector, blockchain applications are realizing the digital identity of managers and real estate ownership and transaction information, as much as possible Reduce fraud.

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On-chain finance, on-chain retail, on-chain life, through data credibility, contract credibility, and other methods, the entity and the blockchain are more closely combined to accelerate the implementation of blockchain applications, which may be the future "blockchain + "The main direction of development.

As far as the blockchain technology itself is concerned, being able to have more scenarios and opportunities to empower the broader real economy is both an opportunity and a challenge. Standing on the evolution history of the blockchain technology, it is not difficult to find that although the first generation of blockchain applications led by Bitcoin, although the business logic is very clear and clear, it has little integration with the real economy. Because of its large volatility, throughput limitations, and uncontrollable transaction costs, it has limited its use as a payment tool, which has hindered deep integration with the real economy.

How to achieve the corresponding connection between on-chain assets and off-chain entities can be said to be the current difficulty for related blockchain practitioners to overcome. In addition, blockchain offline payments also face issues such as performance, privacy and data protection, and security supervision. Technological progress takes time to brew, and industry change cannot be separated from the development of technology. Although there are many problems with the combination of blockchain and the real economy, there is never a shortage of many project teams focusing on this. Introduce technologies such as ring signatures and zero-knowledge proofs to verify user data and ensure privacy protection; to achieve the growth of TPS through the construction of multi-chain framework, lightning network and segregated witness, etc. Today, blockchain TPS is no longer two orders of magnitude.

With the evolution of technology, offline blockchain payment, which has been considered difficult to achieve, is becoming more and more possible. Through blockchain technology, Standard Chartered Bank can complete a cross-border payment business in just 10 seconds. At present, countries around the world are ready for blockchain payment. Libra is challenging the global payment industry. In addition to DC / EP being launched in the country, Internet giants such as Tencent and Ali are also deploying blockchain payment.

Although blockchain payment wants to replace the centralized payment system as a whole, there are still many technical problems. Efficiency, privacy, and recoverability are interfering with the rapid implementation of this technology. At present, blockchain payment needs to find a small payment scenario and verify the feasibility in order to accelerate the landing, and then provide a reference experience for other directions and the global blockchain payment.

Regardless of the future, it is undeniable that under this market form, "blockchain + payment" is bound to drive the real economy to explore new business scenarios. The fast-changing era of the new digital economy, embracing innovative technologies and keenly grasping development trends, are particularly important for the project team and the country.

Lava is also actively promoting the development of blockchain payments and exploring the African market. According to relevant data, Africa has become a new battlefield for cryptocurrencies. Ghana and Kenya and other sub-Saharan African countries have the top 45 users of cryptocurrencies in the world. A large number of these countries have bitcoin Cryptocurrency. From the perspective of a new generation of Africans, cryptocurrencies are not only investment vehicles, but also an important way to address financial needs, such as the transfer of goods, services and funds.

The active promotion of blockchain payments is inseparable from Lava's own project vision-building a decentralized "root of trust" and "top-level index". Blockchain technology has never been a leap forward. It also requires artificial intelligence, big data, cloud computing and other next-generation technologies supplemented by infrastructure support. The blockchain project is never independent, which will only cause waste of resources, computing power and assets. Lava hopes to do something valuable and condense the global storage trust consensus. Lava has never talked about this vision. Lava takes the PoC consensus mechanism as its main focus and condenses the global storage trust consensus. It is based on a two-way anchor (2-way peg) cross-chain asset transaction technology and cross-chain atoms through scripts. Exchange technology, through the off-chain expansion scheme, payment channels and status channels and other technical means, gradually realize project planning.

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