On May 24, at the Hong Kong Hung Hom Kerry Hotel, the Global Blockchain Summit 2018 (Hong Kong) • The ETM (En-Tan-Mo) product was successfully released. The current Global Blockchain Summit was initiated by the En-Tan-Mo Foundation. As a non-profit organization, the ETM Foundation’s core mission is to regulate, protect and promote ETM technology. In this session of the Global Blockchain Summit, Nobel Economist Professor Sargent, Lu Jun, Director of the China Information Industry Department of the Ministry of Industry, Dr. Aaron Yuan, Scientific Advisor of the ETM Foundation, and Seabook Chen, Head of the ETM Foundation Development Team, and many others The guests are witnessing with us: the release of the ETM project.
In this session of the Global Blockchain Summit, we deeply felt that in the future competition, if we do not accept the blockchain, then no company or individual can win in the ever-changing market competition. “Accepting blockchain (new things)” will determine who is the winner and who is the loser and play an important role. Therefore, it is necessary to understand the significant impact of the En-Tan-Mo project on the development of the blockchain and its revolutionary significance.
Dr. Aaron Yuan, an ETM Foundation science consultant, is a Ph.D. from the University of Maryland (USA). He studied under the famous “Distributed Systems Professional” expert, Academician of the International Electro-Electronic Association, Professor Eyad-Abed. He published 12 research theories (included by SCI). At the first global blockchain summit in 2015, he first raised the issue of blockchain SHD and attracted global attention.
As the chief scientific advisor of the En-Tan-Mo project, Dr. Aaron , spoke at this year’s Global Blockchain Summit. He quoted Klaus Schwab, the founder of the World Economic Forum, to express the importance of the blockchain to the world today. “As an important result of the fourth industrial revolution following steam engines, electrification and computers, the blockchain is expected that by 2025, 10% of the world’s total GDP will be stored using blockchain technology.”
In 2013, when Bitcoin was released, Dr. Aaron began to focus on the brand-new area of blockchain. Bitcoin was a great success as the first crypto currency. Decentralized books, digital signatures, hash calculations, etc. have changed the thinking of the Internet. In February 2018, Bitcoin’s computing power reached 20EH/S, and Bitcoin’s stock market value reached its highest point. Bitcoin is known as digital gold in the blockchain world. In January 2009, the Genesis block was dug out and “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” Like the curse, the 1.0 era of the Bitcoin blockchain started. However, Bitcoin’s inefficiency and low scalability seriously restrict the practical application and subsequent development of blockchains.
In 2015, Ethereum began to appear. Vitalik Buterin, founder of Ethereum, called Ethereum “a next-generation cryptocurrency, decentralized application platform.” Ethereum has clear and clear design ideas and frameworks for blockchain applications. Ethereum significantly improves blockchain technology through well-designed machine code, intelligent contract, and resistance to ASIC algorithms. Members of the Scientific Interest Group have the privilege to participate and truly move into the blockchain world. Dr. Aaron thinks: The blockchain application is like a car on the road, and ETH becomes the gas consumed by the car. The design concept of “application” consumes “gas” compares ETH to “digital gas”. This also marks the arrival of the Blockchain 2.0 era. As of April 2018, there were more than 90,000 “Intelligent contract” in Ethereum. These “applications” consume a large amount of Ethereum’s resources, causing Ethereum to resemble a narrow, congested, high-fee highway, and fail to meet high-speed standards and can’t afford buses.
In recent years, centralized services have been questioned by more and more people due to issues such as unreliable big data. Therefore, the blockchain ushered in an excellent market opportunity. However, it has not really gone into market application. The expectations of blockchain 3.0 are: a unified system of security, high efficiency, and “decentralization.”
The En-Tan-Mo Project Scientific Advisory Committee plans to build a new generation of blockchain projects. The next-generation blockchain project has the completeness of SHD and is based on Nash equilibrium and value transfer theory. The En-Tan-Mo project was originally proposed by French mathematicians. They incorporated the results of game theory into the blockchain and extracted the essence of the three words Entente and Transaction, Mobius, then called En-Tan-Mo. Later, communications experts, computer experts, economic experts, and philosophers quickly joined En-Tan-Mo’s team, including the California Institute of Technology (USA), the University of Maryland (USA), and the Institute Henri Poincare (France). Scholars in various fields.
It is very honoured that Professor Thomas Sargent, the Nobel Prize-winning economist and leader of the Rational Expectation School, also joined the team as a senior advisor. Since then, all the theoretical designs of En-Tan-Mo have adopted the double verification process: the mathematicians first completed the consensus modeling, numerical simulation and simulation experiments, etc.; then the computer communication experts verified En-Tan- according to strict standards. The theoretical design of the Mo project.
When the En-Tan-Mo project was formally launched, the builders of En-Tan-Mo were not just project team members but all users of En-Tan-Mo. En-Tan-Mo project advocacy: self-evolution and participation. The En-Tan-Mo project advocates that all users actively upload components and develop the Derivation Chain according to their own needs. The En-Tan-Mo project team will define itself as the “founder and maintainer of infrastructure construction” and continue to do its utmost to provide safe, stable, and efficient technical services for the entire system. At the same time, the project team also expects scientists, engineers, and developers who all agree with the En-Tan-Mo concept to join the team or work together in various flexible ways.
From 2008 to 2018, the idea of the blockchain was gradually focused on, explored, and practiced. This only took ten years. Compared to the development of the Internet, we can see the great success of the blockchain: 1974 is the first year of the Internet, and the (USA) Advanced Research Projects Agency (ARPA) has developed and published the TCP/IP protocol. Twenty years later, in 1994, China officially joined the Internet.
“Blockchain and related technologies” will have a tremendous disruption to the contemporary economy. The industrial revolution appeared in the world of business models based on hierarchical systems and financial capitalism. The blockchain revolution will witness the arrival of an “economic system dominated by human capitalism and a high degree of autonomy.” How will all this be eventually presented? At present it is not clear. Entrepreneurs and innovators will continue to use the trial and error method to resolve this uncertainty. Of course, a lot of wealth will be created and destroyed before we know exactly how this subversion will be presented. The contribution of the En-Tan-Mo project is: When this disruption occurs, the En-Tan-Mo project will provide a balanced value transfer model, so that people clearly understand the meaning of this subversion, and that wealth how to be destroyed, how to be created!