Ada Xiao on PlatON’s privacy computation infrastructure

0:02I'm Ashlyn Addison from event chain for investmentpitch media and FinTech news network and today on blockchain interviews we have a – ow CSO applet on ADA thank you so much for being on the show today it's a pleasure to have you here thank you very much for having me here you're very welcome let's talk about plet on now how would you say that the Platonic blockchain

0:26infrastructure is differentiating itself in the blockchain industry right that's a very good question so the main goal of plate on is to build a infrastructure for the next generation decentralized businesses and there are two things that we're focusing on the two main things which are the province that we believe exist with the current blockchain industry and one thing is a privacy

0:50problem so we are building privacy preserving computation technologies which can people from off chain to better encrypt personal data and sensitive information before it's shared on openledger and useful collaboration purposes and the second thing that we are focusing on as solving a scalability problem and in order to do that we are utilizing this technology cordera viable

1:17computation what he meant is that instead of running the whole calculation and commutation all over again by other nodes to reach a consensus we can now generate a shock proof mathematically it's proven to be safe and secure and sound and any node only needs to verify that shock proof in order to know that it outcome of the computation is actually valid so that's the two things

1:40that we're focusing on and that's what makes us kind of difference from the existing projects that we know of right now interesting well that sounds very promising now when viewers that are just getting into cryptocurrency look at these networks it can be very complex and often they compare it to aetherium now does Platon have similarities to aetherium you mentioned scalability and

2:06privacy are two of the things that the theorem network is working on but are there other simulator similarities or differences you between etherium Network and yours right uh so first of all I have to say that um definitely had a great impact on the entire blog industry and me personally we like we talked with Patel again we work together and we kind of have

2:30conversation with a foundation very often as well and when we first get into this industry the team and myself we got a lot of very great ideas for on ethereum however what we are trying to do or should I put it our focus is kind of different funders as I mentioned before we are focusing on a privacy-preserving part and utilizing various crypto algorithms to encrypt the

2:55data and that's one thing and then we also modify just a little bit on the consensus mechanism because where we're trying to build as to strike a balance between a fully decentralized network and performance and efficiency because we're trying to build a infrastructure for decentralized businesses and so we adopt this POS concession mechanism where we so basically voters or state

3:20owners can vote where they're uh you know like consensus nodes and now we would adopt a very variable random function to actually relax randomly 25 knows out of those selected a hundred and those will be come in take turns become the brought producers hmm wow that sounds pretty interesting now when did the team first start developing platon and how far long is it

3:47now right so basically we announced of this project just about a year ago so would actually gonna have our anniversary this weekend so in in San Francisco and but the team has actually been working on the projects things to start off last year but before that we also have experiences um you know that building project for commercial clients using blockchain technologies so in this

4:15January we just completed and launched our test net which we so basically would deliver what we promise to the community and right now we are working on the launch of the main acts we expect them in that will be available and launched up up and running by the end of q3 or the early q4 this year we're working they and I to make sure that I will be stable because I would

4:37think that stability is actually very important for the projects and so this is right now what we are working on I guess like further allowing to the future in the long term we think that we might be working on some more customized of hot where that's dedicated and so though tailor-made for doing it conducting computations for plate Hong and have the you know the crypto

5:01algorithms actually embedded within the hardware that would be the ultimate way to improve efficiency and scalability problems mm-hmm and can you talk a little bit about the team that's developing right now how big is your team where you guys located and are you expanding rights so right now we have team mostly in Asia so we have team in Shanghai Beijing Xinjiang Hangzhou and

5:25Hong Kong and I guess like we have about like more than a hundred people actually working on the project full-time but you know like the spirit of open source project and blotching we want to get you know like at least us more more decentralized as we can so we definitely welcome at least like after the launch of the network we welcome you know like

5:49our contributions from the community and we are working on expanding our brand image and our community overseas as well so that's I guess like a plan for the future yeah well it sounds like a really large team ADA congratulations so far thank you mm-hmm and can you speak a little bit about the investors and the partners of pluton well absolutely so um we we basically haven't really

6:16publicized or in my you know marketing fundraising activities publicly anywhere what are the very important reasons because we do have legal advisors from like different jurisdictions and they advise us to not to do that because you know especially some major economy they might have like different views on how they should you know like back these kind of activities so what we are

6:41being extra careful on that site because we are looking into the long term and I guess I regulation is something regulators are something that we just cannot pretend not to see or avoid so in terms of the partners so basically we have been working with different industries and verticals the top three industries were working with our financial industries and we are

7:04partnering with investment banks in overseas and as well as in in China and we are working within our financial industry structure providers in China and we did build a sort of equity exchange platform for one of the original OTC equity exchanges in in China and basically helping them to connect them with a text Bureau and all the other parties who are involved with

7:28the whole performing the whole cycle of a trade the second industry we are partnering or focusing on is house care industry because they have enormous amount of data and especially with medical data and you know like genetic data those are very sensitive personal data so they really need a very good you know policy preserving technology to make sure that those are not leaked

7:54anywhere well there you know calculating and collaborating with them and so we are we also do have some partners or clients in the logistic logistic industry because there we're having them to build like supply chain and the system for them that they can you know have the information and data better second circulates it out within the system so I hope that answer the

8:20question definitely yeah financial services healthcare and logistics are all very popular and looked like they could be implementing blockchain technology soon into those industries so that's very promising to hear could you speak a little bit about if there will be a business model or a revenue model for those industries or how specifically Platanos looking to sustain its business

8:42for the next five to ten twenty years right so if we're talking about plate on the foundation itself so basically the foundation is number calls just like the etherion foundation I would build a network and I know that there are projects out there who would charge like a transaction fee per transaction but will feel like it's actually asked a friction within the

9:05system so we don't really want to do that everything that's performed on a public chain the playground chain will be free of transaction fee so all the resources and the token will be allocated to those who actually help to perform the task as for the foundation we do have like a 2.5 percent inflation rate each year and then for the first ten years the

9:29foundation will not take any rewards or any profits out of anything but we will instead it will be you know like subsidizing and donating into the society so that the subsidy will actually go to those who perform the task but then after 10 years out and we will be taking up just a little bit fortune out of the 2.5 percent on inflation token just to maintain you

9:53know like the daily operation of the foundation and we believe that as really six this is a public chain and we were believing that it should be run by the whole entire community not just like centralized mmhmm that's great Aida and can maybe you can touch a little bit further on if there's a cryptocurrency involved similar to how ether is used as a gas

10:14for transaction costs on the etherium Network are there cryptocurrencies involved in the network and how are they utilized right yeah absolutely we do have a cryptocurrency within the network and we call that anagon you know that I think that Ana golf on the transformers because they are sort of like what powers are you know the transformants so it would be quite a way

10:37that it works would be quite the knowledge with very and then the other projects so basically we will have so a request a requester basically I have a task and I would need some data from other people and then I would just basically publish a task and then those who have to date a relevant date how will say hey okay I have the data and then by using that privacy-preserving

11:01measures that person provides then uncomfortable with sharing that with you for just one task than of the enecon will go from the task requester to those data providers that's what are you actually so so to enecon we actually be very crucial part of the whole economic model within the plate home network mm-hmm great and as the main that launches and you mentioned

11:27q3 or q4 what are the first steps after that is it acquiring more customers or acquiring more developers um yes I guess like one of the most important step for any open source project out there would be acquiring more developers and expanding the community itself because it's more so like technology focused so that's something that we'll definitely be working on you know like front for

11:54now on especially after after the launch o to make maths and then of course the reason why will we're actually building is new technologies because we really hope that it can help to transform or you know enhance the way that you know business actually perform and how different industries and different companies collaborate with each other so we will also focus on really educating

12:19the market and not just tech developers but also in all electrical for more from the business side to actually understand how does technology can actually help them and we wish that it can actually help to improve the productivity and efficiency of how you know the current business world is actually functioning definitely that's a great goal to have

12:39and you really need to make an impact in the real world outside of the blockchain industry to prove that this technology can make you know use of you mentioned financial services healthcare and logistics I could I could foresee in the next 12 months already working into those industries and having a functional product for platon so I guess like for the next well month

13:07um I guess right now the main focus was to beat the milestone the most important milestone which is the the long term to make that and I guess like one of the very important things do have many corporate clients and when we talk to them they're worried that oh so Paris is one thing scalability is another thing and their stability is actually something they really care

13:30about they don't want to build a system based on a new infrastructure but however it would just fells at any time just because they couldn't take like the very high volume of transactions so right now we're working on to make sure that our blockchain Alex will be Thursday but once it's launched we don't want to launch like a in conflict product and that's something that the

13:50entire team is actually focusing right now and that's our top priority and I can say into the future we do have some you know like partners in the financial industries and now we're working with them and getting to know their you know that their workflows and business is and with those informations we'll be able to better you know perfecting and modifying

14:16our products and infrastructures and while we will continue to upgrade our blockchain technology you know with MPC and verify our computation and everything we will also be putting a lot of you know like attentions and resources into educating our potential customers who will be adopting the technology mm-hmm that's great ADA and if there are potential customers or just

14:44people interested in learning more about plet on what is the best way for them to learn more information and get involved right I don't want it to be sound like an advertisement but we are on github and we're on tutor episode Twitter and LinkedIn so if you have any questions or just simply wanted to talk to us and get to know more about then about what we're

15:07doing and you will welcome to just like full of us on those platforms and also you can just you know get more information what we're doing for our website which is played on network yeah we would definitely welcome any kinds of suggestions computer visions and insights from you know the community amazing thank you ADA I'll leave those links in the description box below and

15:29that's all the time we have today but thank you so much for being on show let's follow up in the near future okay thank you very much again