According to the report released by the world economic forum, blockchain can increase global trade to US $1 trillion by 2028. In addition, Bains company, who made the report together, said that if the industry does not adapt, the trade financing gap may expand to US $2.4 trillion by 2025, and blockchain can solve this problem.
As an important achievement of the fourth industrial revolution after steam engine, electrification and computer, blockchain is reconstructing the global business model. In the field of cross-border trade, blockchain technology makes international trade more transparent and efficient, which will greatly change the traditional pattern of international trade.
Power: focus on cross chain and application chain in cross-border trade field
However, the combination of international trade industry and blockchain still faces some difficulties. First of all, the technical cost of building blockchain is high, which is difficult for traditional cross-border manufacturers who lack experience. Secondly, the current blockchain infrastructure can not meet the needs of users. First, the use of digital wallets is difficult, and the threshold for users to backup mnemonics and retrieve passwords is high. Second, the current low TPS of the public chain and the habit of paying for fuel are relatively big obstacles for free users of the Internet. Thirdly, cross-border trade between different public chains is fragmented. Due to the heterogeneity of public chains, in order to reach users of multiple public chains, blockchain developers need to develop the same application for each public chain repeatedly, with high cost.
The emergence of power application chain is to solve the problem of the combination of blockchain and cross-border trade. Power uses the most advanced blockchain technology to build an open network and application suite, providing developers and users with complete modular development based on Turing. Developers and users do not need to study the underlying technical details such as cryptography, consensus mechanism, storage mode, etc., and use simple and quick smart contracts to directly connect commercial applications for cross-border trade, so as to reduce the commercial cost of blockchain.
Let’s see how the power application chain can play a role in cross-border trade.
Decentralized power empowers Global trade
The first space on power is called “power hub”. Power center is a multi asset proof cryptocurrency network. It can change and update the network through a simple management mechanism. In addition, power center can be expanded by connecting other spaces.
Power hub parallel chain can be used in cross-border transactions, commodity traceability, data management, cross-border transactions and other aspects to help traditional cross-border trade achieve transformation.
Improve the efficiency of cross-border transactions. The cross-border trade of blockchain adopts decentralized technology. The two sides of the transaction no longer need to rely on a central organization to be responsible for capital clearing, but directly transfer the value based on a consensus mechanism algorithm that does not need trust coordination.
It is used for commodity tracing and solving trust crisis. By saving the traceability information in the blockchain account book, all participants in the commodity life cycle will jointly maintain the account book storing the traceability information as the blockchain node, so as to ensure that once the traceability information is on the chain, it cannot be tampered with or forged.
Eliminate data fraud. In order to solve the security problems such as potential forgery and tampering of trade data in traditional supply chain, power proposes a trusted data management scheme based on blockchain technology, which uses smart contracts to code trade rules, prevent performance risks and improve the credibility of trade data processing.
Ensure the security of cross-border payment. Compared with traditional wire transfer payment, the new cross-border payment mode based on blockchain makes full use of the advantages of blockchain technology. It directly makes point-to-point payment between the two sides and participates in payment verification together. It has obvious advantages in reducing cross-border payment risk, improving cross-border payment efficiency and saving bank resources.
In addition to the power application chain, power is a decentralized trading platform that changes traditional cross-border trade scenarios through blockchain cross chain. It constructs a parallel world in which commodities are digitized and blockchain bills of lading are used as proof of rights and interests; it combines cross-border trade with blockchain, digitizes commodities and transforms them into bills of lading; records asset registration, circulation and transaction on the chain, expands the boundary of commodity value network, and provides infinite possibilities for the development of cross-border trade in the future.
Por: a potential cryptocurrency
Por is the project token of cross-border trade platform power, with a total issuance of 210 million pors, of which 70% are about 147 million pors mined through POS, which are used as the certification token for setting reward; 10% of the total 21 million pors will be used for setting technical maintenance (release 1% after online, release 10 months after linear release); 10% of the total 21 million pors will be used for team construction and operation Battalion (release 1% after online, release 10 months after linear release); 10% of 21 million pors (release 1% after online, release 10 months after linear release) will be used to maintain governance ecology for power as a foundation.
Stand mining power chooses to distribute platform ecological rights and interests to platform users, and gradually releases them to community members by adopting the “stand mining” mode. More than half (70%) of the power will be awarded to users by the project party in the form of service fee return, and the mining difficulty will change in real time with the congestion degree of stake.
Is por worth investing in? It needs to be analyzed comprehensively. From the perspective of project background, power is a project invested by Softbank group of Japan. Softbank, as a comprehensive venture capital company, has invested in more than 600 companies around the world, and has continued to march into the blockchain field in the past two years. Softbank’s injection of funds is undoubtedly an affirmation of power’s strength.
From a technical point of view, on June 10 this year, Microsoft announced to improve the power platform and add a new tool, which will make it easier to add prefabricated AI code packages in its power apps applications, and allow external personnel to access these custom applications. The improvement of Microsoft makes the technology of power more perfect and efficient.
From the perspective of project team, power has the world’s top team, the core team comes from the world’s top cross-border trade Internet team, with many years of experience and accumulation in the cross-border trade field, and the core members have more than five years of joint venture history. For example, Fu Jiacheng is a senior consultant of IBM’s global enterprise consulting service department. He holds a master’s degree from Wudaokou School of finance, Tsinghua University, and an MBA from Cornell University in the United States. He was once a research commissioner of the National Institute of finance, Tsinghua University, and a distinguished expert of the quantitative finance professional committee of China Marketing Society. Chiba Junyan, senior operation director of Softbank group, is a doctor of business administration from Stanford University. He once worked for Microsoft as the president of operations in Asia. He has rich business development experience and contacts in China, the United States, Japan, Australia and other countries.
In addition, the technology team of power is also full of talents. Li Yunjia, a compound technology talent, is currently working as CTO of launch international group in the UK. He graduated from the University of Southampton in the UK and obtained a doctor’s degree in computer science and a master’s degree in Internet technology. He was once a pioneering academician of the Royal Academy of Sciences. Shao Zhou, a compound technology leader, is a master of information and communication technology from Wollongong University in Australia. He is good at strategic planning, business logic design and blockchain entrepreneurship guidance. With more than 10 years of project management experience, he has worked in many famous international financial institutions and top 500 enterprises,
From the perspective of market prospect, the market prospect of global cross-border trade is very broad. Power has very specific use scenarios and conditions for implementation.
Generally speaking, power is a relatively powerful project, and por coin has a certain investment value. However, in the short term, restricted by the depressed market of cryptocurrency market, the currency price will surely fluctuate with the market situation, with certain investment risk. In the long run, it will be a good and potential digital cryptocurrency.