The Fusion of Crypto & Finance in the Internet of Values World

sciencevienna (59)in #fusion • 6 years ago (edited)

How will Fusion help propel forward the "Internet of Values"?

Have you ever thought about how and in which way you’re using the internet?^{^{^[1]}} When searching in google, when working on videos/pictures, when using certain services, when sending e-mails? The pool in which we are swimming here is called the Internet of Information. As soon as our daily life has been disrupted or we cared for actively disrupting it by ourselves with decentralized autonomous organizations, blogposts on various blockchains where we achieved more and more control of our creations, data and intellectual property via private keys, we entered the era of the internet of value. Amid the current micro-payments, we are digitally incentivized and we receive real monetary values. We not only send values from one person to another, but sometimes, when being a developer, we are building apps, creating whole new worlds with different functions and logic on the blockchain, shaping a kind of second internet generation. Nobody can afford not to use the new technologies emerging, simplifying our lives. At the end of the day, we are all becoming more and more a developer.

The ability to use values the same way we use information nowadays, we need to deal with interoperability. Our work, money and values can be found on different blockchains, centralized and decentralized organizations to a certain extend.

Why are we not using the synergies which could emerge, when connecting the values of two different blockchains?^{^{^[2]}} Why am I not able to use my Bitcoin and Steem Dollars for financing purposes on one blockchain? Why am I not able to program smart contracts with different tokens, yet ?

Fusion Foundation wants to tackle those issues. At first the most urgent one of interoperability, the scalability issue and usability in an internet of value world to ring in a new age of cryptofinance.

Fusion will forward the Internet of values by mapping values to blockchains, connecting different blockchains with each other and providing for still off-chain central and decentral organizations the inclusive Fusion blockchain to build an own ecosystem on it. The goal is to connect different off- and on-chain values to blockchain, so they can ultimately be controlled by smart contracts.

_{"Those applications on the Internet of Values that have especially strong financial attributes can be referred to as the financial applications of the Internet of Values. We define the on-chain financial activities on the Internet of Values and their related off-chain financial activities as cryptofinance. The reason why we use the word “crypto” is that the securitized financial assets on the Internet of Values are controlled by encryption technology, whose characteristics are vastly different from the traditional finance."}^{^{^[3]}}

How will Fusion change the world of cryptofinance?

As CEO and visionary of Fusion Dejun Qian is explaining, finance will be everywhere, it won’t be just associated with banking institutions, but a crucial part in our everyday life. Either it has to do with the tokenization and incentivization of our social interactions, the Internet of Value will play a central role in our future lifes. One has to be aware of what often is presented as the crypto-disruption, Dejun Qian in contrast is presenting a different kind of utopia where he is reaching his hands out to banks. Due to the competencies banks could gather through centuries he believes that they could create the financial infrastructure of the future. Fusion is providing the ecosystem and its cross-chain vision, where the Fusion token (FSN) is used to buy nodes, which will work for fusion network. The distributed nodes will independently control the private keys. Probably the most promising endeavor is to run more and various tokens on one blockchain. Therefore the Fusion token has to be balanced within the ecosystem:^{^{^[4]}}

What are the benefits of being able to use traditionally bank-operated financial tools in a decentralized manner between cross chain users?

The huge advantage is the financial tools arsenal, every private person can use for him or herself. As you can see in the video above all of a sudden we are able to make use of financial instruments like credit purchase smart contracts. On one hand, however the world and financial flows therefore become more and more complex, we receive what we want, given that we know how we get that for ourselves in that new created jungle of financial payment flows. It should be noted that in cryptoeconomy users have to be aware of their responsibilities, i.e. the more a business gets decentralized, the more we have to take care of having an overview on how our payment or interest model works and that we have responsibility for our strategy we choose. On the other hand the new created on-chain transaction logic is not only safer insofar as Fusion's security model operates with guerilla nodes ^{^{^[5]}} but improves interoperability by restructuring different value systems.