Ulord CEO Dam Woods:Reconstruct the Internet World by Blockchain Technology

On November 19–20, 2018 Blockchain New Economy Hangzhou Summit was successfully held in Hangzhou International Expo Center.

The summit was hosted by the Hangzhou Municipal Government, Xiaoshan District People’s Government, Hangbao Group, FUNCITY Holdings and LD Capital.

Experts, scholars, and business leaders from Wanxiang, Ant Financial, Baidu, Netease, Ulord, Zhejiang University, Ushare attended the summit.

The theme of this summit is “Technology Drives Economy”. Blockchain experts, scholars, opinion leaders from all over the world gathered together to jointly discussed at the development of the digital economy.

Ulord CEO Dam Woods attended the summit and delivered a speech on Reconstruct the Internet World by Blockchain Technology.

He said that there are three pain points in the Internet development. First, in the information explosion, the match of the information and the user is not high; Second, the data quality differs greatly; Third, the high concentration of the platforms and their service. He said, the Internet world can be reconstructed by blockchain technology.

The following are some parts of Dam Wood’s speech.

I. The problem of the Internet

For nearly half a century, human invented computers and the Internet and brought the revolutionary changes to the information carrier and transmission. The Internet has changed the way of recording information and transmission, but it has only changed the carrier of information and has not promoted the value and dissemination of information.

The wide application of the Internet technology have transformed many industries, such as information, retail, finances and our daily life. But the Internet has a flow thinking.

Data becomes production means, computing is productivity, and the Internet has created a new production relationship that has affected the world. Five companies engage in the Internet among the top 10 companies in the world with the largest market value in 2018. However, the model of joint-stock companies has not changed. The purpose of commercial operations is to create benefits to the shareholders, not for the users on the platform.

The origin of the Internet development is to provide a free and fair platform.

However, with the development of the Internet, there are many conflicts in the process, such as giant monopoly and data loss. Even if entrepreneurs have made some innovations, they still face the dilemma of being crushed by monopolists.

II. The essence of blockchain

Blockchain is essentially a database of distributed accounts on the peer-to-peer networks, and maintains the reliable database through the decentralized and trusted way. That is block+chain.

What is blockchain? I will define it from two dimensions.

From the aspect of data, we believe that blockchain is a distributed database that cannot be changed. We are now developing 2 layers of networks. The first layer is the distributed record of data, and that is bookkeeping. The other is the internal distributed storage, and a distributed storage network is built on the bookkeeping.

From the aspect of technology, it is a collection of many technologies, and forms a new way of data recording and show the storage and the upper application.

Blockchain brings us a change in production relations. It changes the trust mechanism and the value transfer.

The classic application areas of blockchain include content distribution, supply chain management, intelligent manufacturing, cultural entertainment, medical health, social welfare, education and employment.

There are 5 aspects in the application value of blockchain. They are decentralization, anonymity, the convenience of payment, not tampering and programmability.

III. Blockchain reconstructs the Internet

Many people ask me why blockchain is the second generation of the Internet? I would like to talk about how to reconstruct the Internet by blockchain in four aspects.

From the perspective of the underlying technology, blockchain is expected to promote the transformation of data records, data dissemination and data storage; blockchain is like an open source protocol, which will touch or even completely replace the underlying infrastructure of the Internet in the near future.

From the perspective of value impact, blockchain realizes the value exchange between peers, becomes the new engine of the Internet, and opens the era of value Internet.

From the perspective of the trust, the anti-counterfeiting and anti-tampering features of blockchain can make people create their own integrity nodes in the blockchain network.

From the perspective of social structure, blockchain is expected to integrate law and economy, completely subvert the operation and management mode of the society and may eventually lead people to a distributed autonomy.

Taking the Ulord public blockchain as an example, Ulord challenges the bottleneck of the blockchain technology, builds a decentralized, globally distributed super-storage and computing platform, provides a more convenient blockchain application interface, and creates a global ecosystem to truly realize the value sharing of blockchain technology and reconstructs the Internet.

The nine features of Ulord master node system, AI algorithm, multi-sidechain technology, smart contract, mixed consensus mechanism, instant payment, InterPlanetary Domain Name System(IPDNS), incentive mechanism and distributed storage will make Ulord a better combination with the Internet.

The Ulord network was successfully launched on May 22. Ushare, a DAPP on the Ulord was also launched. I believe more applications will join in the ecosystem.

Blockchain will bring us a new era.

Ulord is a peer to peer value transfer public blockchain.