Newton founder jizhe xu: it still takes 5-10 years to have an exclusive interview with

Jizhe xu believes that the future development of the public chain should identify its own positioning and apply it to the industry, and it is difficult for the public chain to meet all the application scenarios.
In 2017, the industry tuyere on the blockchain has attracted wide public attention, and in 2018, how the blockchain will further develop into the focus of the industry. Jizhe xu, Newton's founder, who experienced the development of the block chain in person, obviously has his own unique views. Where will the blockchain go in 2018? Which applications will be implemented based on the underlying technology? Which industries will take off in the tuyere? He interviewed Newton's founder, Jizhe xu, to see how he interpreted the development of the blockchain.

Serial entrepreneur all in block chain.

Jizhe xu first came into contact with bitcoin in 2011, when he became an open source community in 2005, when he first came into contact with bitcoin in 2011, when no one thought the open source community was the industry's vents. In 2011, jizhe xu joined the e-commerce company, and successively started the entrepreneurial projects including 3D printing, intelligent hardware, mobile games, and talent recruitment.

Jizhe xu himself so evaluation for past experience: "the so-called serial entrepreneur could be industry gives a comparison of euphemism, in fact, another layer of meaning is in failure, but I think this is the basic quality of entrepreneurs, confidence is a must have, this comes from the inside."

After the accumulation of experience in many industries and the observation of industry patterns, jizhe xu finally chose the all in block chain, from the joint establishment of Elastos to the establishment of Newton project at the beginning of 2018. According to xu, Newton is a fundamental agreement for the e-commerce industry, serving business ecology, and commercialization will be the main goal in the coming year.

The current digital money market basically follows the development logic of "the underlying public link - solution - project application". The underlying common chain plays an important role in the industry.

In jizhe xu's view, there are two development paths of technology: the first one is from the bottom up, first the underlying public chain, and finally the application of commercial ecology. The other is a top-down, is to block chain technology such as direct application to a business scenario, such as: transaction processing speed, solve real business scenarios (high development cost, low feasibility and commercial applications. Newton's technology development is a top-down, based on the current block chain for business model is still the original status, Newton for electricity industry can improve blocks in chains, and other technology, set up the exchange protocol, super exchange protocol based on pay, mall, insurance and other DAPP application development.

According to xu, the future development of the public chain should find its own positioning and apply it to the industry, so it is difficult for the public chain to meet all the application scenarios. Even now has first-mover advantage of the project, and it takes 5 to 10 years of marathons, all of the business have to conform to the nature of business, for those who haven't joined the market, there is still a lot of opportunities.

Create a community economy managed by a nonprofit foundation.

"A lot of people see it and believe it, and very few people believe it. Has the development potential of the real thing at an early stage is not understood is very normal, "said bill xu," most people for block chain need to have a cognitive process, this is because it blocks chain changed people's common sense, by the central bank issued a currency that is in our common sense to the flow of a tool. You have extra money to put it in the bank. Money transfers need to be transferred through a bank, but bitcoin has changed these basic concepts. Many people's cognition of blockchain is incomplete at present, and people should gradually learn and establish the logic of blockchain.

Jizhe xu pointed out that the community economy built under the block chain logic is a good business model, which we call "everyone's contribution and everyone benefits". The blockchain solution is not a simple problem of cost and efficiency. The core problem of blockchain is the new organization structure, cooperation mode and incentive mechanism. In the process, block chain giant commercial mediation is the greatest influence on society, I think the future should be run by a non-profit foundation of a community economy to replace a monopoly by the closed company management platform.

Based on this cognition, jizhe xu in Newton project, for example demonstrates simple: Newton's first created a non-profit foundation, second set up a base agreement, will consumers and sellers for joint, because of the lack of the existence of commercial mediation, the seller's transaction costs down, and received the transaction costs through technological means as incentives, to contribute to the transaction.

As for the development of the whole market in 2018, jizhe xu pointed out that "commercialization is the focus and commercialization should focus on the innovation technology of blockchain. Current block chain in many areas has achieved to the ground, someone landed, participation and sharing is the future industry should pay more attention to how to realize the block chain, namely to achieve more in the broader field application scenarios based on block chain."
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