Rong Chen on Elastos protecting digital assets

0:00I'm Ashlyn Addison from event change audio for investmentpitch media and FinTech news network and today on blockchain interviews we have Rong Chen the CEO of alas dose welcome to the show wrong it's a pleasure to have you here yeah it's I'm glad to be here thank you thank you so much for taking the time I'd really love to hear a little bit about alas dose and then one thing that

0:20makes it unique that you guys are proud of well actually we are we're building a new Internet based on the blockchain so we're proud that we're in sync with the TV series Silicon Valley where maybe a little bit ahead of time that's all side of their episodes definitely ya know they've it's definitely helped bring a lot of people into the industry as well

0:46and more attraction and growth so I do appreciate that so I know you guys working on a lot of different things maybe we could just touch on some technical things for the the crypto nerds you know how does a las dos blockchain protect digital assets and ensure their scarcity well that's a good question because my understanding is that the blockchain alone cannot create the

1:11scarcity and protect the digital assets because the block can can only issue a limited number of tokens right that's all the Ledger's or the blockchain could do on the other hand the digital assets anything more than a number you know say a ebook a movie a game has to be executed or display the rendered on the screen which definitely needs a

1:41execution environment a runtime environment so then if you look at current programming model right all applications on the internet they send and receive packets themselves so with that in mind literally the third-party applications is potentially could copy peracetic contents if we don't stop the brocation from sending and receiving

2:08packets that's a very simple basic requirements then we cannot prevent piracy because we cannot make any digital assets of value so that's where we need to build a completely new virtual machine operating system which prevents vacations from sending and receive a cos because after all all digital assets has to be executed let's

2:37say if you have a movie yeah it's played by the media player if you have a book it's rendered by a barber rendered by eBook a viewer right and so if you open up that digital asset first of all the opening process have to check against blockchain to make sure you have the right to open it and secondly when you run that content so you mean the application could not steal

3:03the contents themselves right so actually there are it's like a coin has two sides and people most people talk about the scarcity the token side of it but they forgot the other side of the coin actually is the execution definitely definitely and so you guys have to build your own virtual machine to compute all of this efficiently and in blockchain there's been a lot of

3:29different ways to do things but a lot of people have been jumping on aetherium because of the ease of use and because it's been around for a while do you guys have any plans to have any integrations with aetherium or any of the other main virtual machines uh yes actually uh we we look at the theorem in two ways one is you theorem is popular we definitely

3:53see the trend I see new out reality here so we build the side chain on top of the last was maintain the side chain actually is running on internet instead of running on the mining machines so that's the second point we don't want to run smart contracts or tabs on the mining machines we were on to run the smart contracts and DAB's on the internet so we have already built side

4:20chains running on the internet basically you lunch are several virtual machines and deploy the runtimes right and that's pretty much implemented on top of you last so sidechain right now okay it's under internal testing so we are going to support kneels at chained neo smart contracts okay and the easier in smart contracts but on the side chains not on

4:48their mining machines very interesting awesome and are you guys also planning on doing integrations into IOT devices yeah we actually we have already had two partners one is a setup box vendor it actually it's a solution provider they don't really make their own brands but they provide the solutions to many setup boxes currently we have the lastest carrier

5:16that's another thing which I think it's important because carrier literally were building a peer-to-peer Internet that's what the internet is right it's a internet it's a peer-to-peer the centrist carrier you can think of AT&T and without AT&T it's a virtual machines being the phones right we're two phones and we do have this peer-to-peer network running already and we have the carrier

5:46software alpha versions of it installed into a quarter million set up boxes already currently those quarter million set of boxes are running in homes literally in homes so we would put the alpha version in not interfering with their existing business but that's that first we're feature we provide through the Chatterbox vendors remote desktop so for technical support say if the owner of

6:18the set up box telling the the product support there's a like a number write a sequence number and then the product support can take over the remote desktop and helping the consumer to tune in to the channels or solving the problems are remotely basically with that feature we're past in the bandwidth we're testing the reach ability in two different locales and of

6:48course we also have the so-called OTA a billion so over-the-air upgrades so we're making you know so it's all in the hardware can upgrade by adding more features like we're going to add a family support like you know the the grandchildren some pictures who are remotely definitely not displayed on TVs as a screen saver so those things are currently under working its into a

7:15quarter million homes already and the weak-backed the Chatterbox installations will reach about a half a million or more by the end of this year and we also have another partner io yet they are preparing to ship smash speakers for the Christmas season that's awesome it's also – at least the hundreds of thousands of them deployed by Christmas time that's great so the elasto scary

7:45errs if I understand correctly are they are a physical box that are in hundreds of thousands of homes already and part of that is the elasto Stevie but it can also do many other things as well yeah it's not a glassful TV it's an existing TV okay so kind of light side by side we're not interviewing with E so we're not saying decentralization will really

8:09replace the existing Internet we're saying that decentralize the Internet and the existing internet will live side-by-side so not interfering with them and business but on the other hand eventually we're going to encourage our peer-to-peer decentralized services like a decentralized YouTube but currently it's all centralized the video streaming right now definitely yes and and as far

8:33as the distribution goes so far with elasto Stevie are you guys mainly in Asia or is it expanding to North America are you guys working with other broadcast networks to expand and globally actually we we intended to expand globally because so currently the SATA boxes are mostly in China it's not because of the box itself it's because of the contents

8:54because the currently the centralized the video streaming were mostly in Asia yeah you know you guys have plans to expand in North America soon yeah like I said the smoothly curves are going to be and mostly in Europe and America well that's great awesome so what else do you guys have in the roadmap in the next six months that you're most excited for for

9:17lastest well another thing is we are trying to currently this a peer-to-peer a decentralized carer is it start to deploy right and another milestone that we want to achieve is to have at least around a half a million so-called D ID users by the end of this year so meaning if you see the current internet no one has a ID per se and the current

9:47internet is decentralized no one is controlling the internet on the other hand since everyone can get onto the internet everyone can fake the identity of someone else over intercept other people's messages or launching DDoS attacks so the in new internet we're building that is powered by the blockchain so then we can use the blockchain to issue IDs which is not

10:11controlled by say AT&T or Amazon or WeChat attention or Alibaba right yeah so on the other hand we can also use the blockchain technology to grab the public keys of private keys so all the informations will be peer-to-peer encrypted that's great there's definitely a huge identity crisis over all the block chains and a lot of industries won't be able to run until

10:37there is proper identity built into the system and people are able to prove you know their funds or their assets right so we are we hope to get like half a million or so users to start using this new Internet but still like what we deploy the the set up box we're not interfering with the main business right so we're just really moving into this market in a very very quiet 90s or

11:07disturbing Manor so those IDs first of all will be used like that's a lot of mobile apps you can login using the mobile app login you can also login using Facebook locking so for some of the applications we deployed with our partners they can use it use their existing application login and also they can use the decentralized ID to log in right yeah as

11:34subtle as that yeah everything else is the same but then they could have option to log in using the decentralized ID to logins that our facebook login yeah no I I agree that's a smart way to do it and I understand that you should really lower the barriers to entry and educate people and incentivize them rather than force them to use new technology especially if its technical and there's

11:58barriers to entry you have a lot of problems right crack we're not saying that people screws throughout you know Facebook threw out suddenly existing popular mobile apps what we're saying if you log in using our D ID then you'll see there's a wallet in there in there right you may even not use the wallet right but then using the wallet eventually as I said the application

12:23will update from time to time a very subtle way we add new features to existing apps so week's plan we plan to have something like you have a wallet then you can have some scarcity based digital assets mm-hmm so you can own you can trade you can sell eventually right slowly throughout the year of 2019

12:51that's awesome so moving into 2019 what do you see as the biggest obstacle or challenge that alas dose is going to need to overcome well currently if you follow you last there was a a by and large this product is huge it is right a lot of people believe for you lassos is uh is a blogging project which is true but we we are kind Himes larger at least

13:22right because so first of all we build our main chain drawing mind drawing through the Jordan binding with beat main PPC calm your mining pools and we build side chains which is you know supporting the serum smart contracts neil smart contracts and eventually we're building our own smart contracts and thirdly we are actually having we have we have partners building ipfs

13:48compatible technology which could be potentially kind times faster leveraging the static boxes we deployed so every product alone you know it's bigger than the exam hard to some other blocking projects very working to have those are half a million di d users using some dabs right and the dabs in my mind will

14:19have a definition much broader there in the smart contracts we are super set of smart contracts in my mind tap it's something that Qaddafi turned out by the third-party yeah let's say if I we want to do a stream video from you to me or me to you I then this video should not be intercepted or turned off by some websites so that's my definition of tap

14:46it's not what I mean what I'm saying is the tabs not the one not only the ones running on many machines many more actually 90% at least 90% more will be running peer-to-peer on the Internet why do we have to have a redundancy for our video conferencing right the sec so long as the video conferencing cannot be turned off by the third party we are a DAP with that definition would

15:14definitely much at least ten times larger than the existing uses in smart contracts yeah so it's really just about making sure all of the different sub sections of the business are following the proper timeline and roadmaps because you guys are doing so many different things yeah so the tumbling block actually is the recognition all fought the saying why do you want to let's say we

15:38have issue that many tokens right then they were saying how come you know two million dollars is not enough or thirty million dollars and not enough for you guys you know thirty million is not a lot of money for startups of a blockchain of five people mm-hmm right but on the other hand we if you're building a new Internet what is a thirty minute yeah nothing and also it's not us

16:04actually it's the ecosystem it's the partners how much do i know we need people to do because you own your own data then who is helping you to do the decentralized marketing so we need our marketing partners and if we have the internet who is doing the streaming right as I said the clone of ipfs who is doing that it's not who is doing the cloud storage winds doing the the

16:31virtual machines in in tarkir in Amazon clouds so those are only different expertise of of partners definitely so we need to we need collaborations and we need acceptance definitely so if people are looking to you know make some collaborations with last O's help out with the project or the community what's the best way to get involved well we we

17:00have two ways the project actually consists of two main parts one is the infrastructure which is sponsored by the Alaska's Foundation we call it a core team and then the other one is we call a cyber Republic currently the proportion is that allows function foundation has 10% of the pre mind tokens and the separate Republic has about half so that's the proportion right that in my

17:32mind at least actually the the ecosystem should be even larger than five times more well and that said people could approach as it could in either approach the Alaska's foundation to build the infrastructure or they could approach the separate public to build the ecosystems great awesome well that's all the time that we have today but thank you so much

17:56wrong for answering all of the new questions on elast os– I'm looking forward to following up with you guys again in the coming months to see how your side chains have developed and the distribution of the D ID and the carrier boxes so thank you so much for your time and I appreciate you coming on the show I'm driving here thank you thank you