SHENZHEN, China–(BUSINESS WIRE)–Blockcloud, a service-centric blockchain network system for the
“Internet of Things” (IoT), will be introduced today during the Genesis
CAT Meet-up in Tokyo, Japan, which is committed to paving the way for a
revolution in how we deploy IoT solutions.
It is predicted that the number of IoT devices will reach 20 billion by
2022, and IoT Applications such as smart healthcare, virtual assistants,
augmented reality and self-driving cars are gaining popularity in our
The infrastructure of this ever-growing network of IoT devices, however,
is still centralized and thus subject to a number of problems like
uneven connectivity, slow/limited scalability, low security and lack of
standards. Patching these issues requires costs that may ultimately
affect the profitability of each IoT application.
Designed with IoT in mind, Blockcloud is decentralized, dynamic, secure,
fair and economically sustainable. As team leader Zhongxing Ming
explains, “Blockcloud is the first blockchain technology system
tailored to the evolution of the Internet and to the Internet of Things.”
At the core of this new architecture is the idea of Service-Centric
Networking (SNC): a cloud application is not hosted in a server farm,
but anywhere on the net in multiple instances wherever there is a
capable/willing host. This improves performance, reliability and
scalability. The addition of blockchain technologies (the same as those
used in modern cryptocurrencies) guarantees the absolute security of the
system and also offers a monetary incentive to the contributors, thus
rendering the system sustainable.
The team behind Blockcloud is composed of scientists from top
institutions such as Princeton, Tsinghua University, and Tokyo
University, and world-class companies such as Morgan Stanley, BAT, and
Huawei. Boasting 50 papers at top international conferences and on
journals, more than 80 patents, and their works referenced more than 400
times, they had established industry-leading companies in the field of
smart hardware, serving around 5 million end users and amassing more
than RMB 40 million in financing.
Organized by Genesis Capital in collaboration with Node Capital and
Manzi VC, the Genesis CAT Meet-up in Tokyo, Japan is the first stop of
the GENESIS CAT global roadshow.