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“Blockchain technology allows us to realize the vision of creating an online infrastructure for financial functions.” – Dejun Qian, Visionary & Principal, FUSION Foundation

The FUSION foundation is a non for profit entity developing a public blockchain that will serve as a backbone and infrastructure for the future of Cryptofinance. The FUSION blockchain will allow cross-chain transactions as well as mapping of off-chain assets via it's powerful and flexible smart contracts that can be triggered by off-chain events, time-based triggers, and others. FUSION is registered in Singapore with much of it's operations located in Shanghai. We actively seek cooperations and partnerships with financial institutions and service providers who are interested in implementing parts of their business operations on the blockchain, 3rd party developers, and all interested members of the blockchain community.

Dejun Qian, who will be discussing ‘The Dawn of CryptoFinance’ and ‘How Can Bans Reinvent Themselves with Blockchain’, took some time to complete the speaker Q&A:

How are you using or planning to use Blockchain in your organisation?

FUSION is a public blockchain, aiming to build a broad finance ecosystem. Upon the arrival of main net, many traditional financial products, can be conducted on FUSION, through FUSION’s technologies, such as Lock-in and Lock-out, time lock.

What benefits do you think Blockchain will bring to your industry

No need for the trust.

FUSION is a public blockchain, aiming to build a broad finance ecosystem. Traditional financial products has to be offered through financial intermediaries, for example, banks, insurance companies, brokerage and securities firms. Through FUSION’s technologies, LILO (Lock-in and Lock out), many financial services and products can be conducted without financial intermediaries.

What impact do you expect Blockchain to have on your business?

We are a blockchain based business, ourselves. Blockchain technology allows us to realize the vision of creating an online infrastructure for financial functions.

What will it take for Blockchain to go mainstream?

Of course, there are numerous factors that should be taken into consideration. Capital, technology bottlenecks, etc.  Generally speaking, blockchain is a slow in terms of transactions. TPS has always been a problem when it comes to consumer-level product offering. Foreseeably, many technologies bottlenecks can be overcome. Overall speaking, If a technology that is 10X better, compared to the traditional technologies, it will be vastly adopted by the traditional industries.

How important to do you consider collaboration on Blockchain to be within industries?

Collaboration is important. Especially when it comes to areas of interoperability. Even though nowadays, Code, in many cases, are open-source. But in many cases, it still brings values when different projects people get together and reach consensus though communication.

Where do you see restrictions in Blockchain technology currently and how can they be overcome?

Interoperability, scalability, and usability are 3 bottlenecks in the blockchain industry in the financial world. Different technologies, for example, LILO (Lock-in and Lock-out), Time Lock, Cross-chain Smart Contract, etc.

How should Blockchain be regulated?

Controls of fiat currency distribution right and overall stability of their own domestic financial environment has always been one of the most important areas for their countries’ government and central bank’s functions. Different countries have different concerns over their own country’s special situations. But overall, governments will make holistic decisions, by taking different factors into considerations to support their own countries’ economy growth.

How can DLTs be used to better serve customers?

Different industries, can use blockchain to revolutionize the old ways to service clients. For example, as to big 4 auditing firm. Generally speaking, auditing has taken more than 60% of their business revenue. By using DLTs (Distributed ledger technologies), trust can be solidified, and the business process can be automated. Auditing, broadly speaking, also is part of traditional finance services, and opportunities, to collaborate with FUSION can be explored.

What will be the impact of smart contracts across enterprise?

At present, every enterprise, is like an isolated small lake, with its own limited ecosystem. Perhaps some are bigger than others, such as Alipay or even Bitcoin, but they are still isolated. They all have their own, separated, CRM (Customer Relationship Management) system, for example. Through FUSION’s LILO technology (Lock-in and Lock-out), the FUSION platform allows free flow of values and brings lakes and rivers into the sea. It makes all “impossible” to “possible”. This will be a huge, all-encompassing ecosystem---FUSION platform.

What are the challenges of taking Blockchain from proof of concept to live deployment?

Technology bottleneck, Talent, Different parties’ cooperation, Capital, Technology timing, etc.