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DRAW+DBRT
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Having been devoted to science and technology innovations of finance for banking, the predecessor of Internet FinTech Chain(IFTC) played dominant roles in developing and maintaining payment, clearing and account systems of banks, especially the former two systems. Up till now, IFTC has gained support from 20 banks, more than 1,000 channels, over one million merchants and 200 million users. After investigating the entire financial market, it has found that with the application of blockchains and tokens, unprecedented innovations will be made in financial science and technology of the whole consumer market. Therefore, IFTC team overturned BTC, Ethereum and EOS consensus and distributed storage models and a platform named Internet FinTech Chain(IFTC) was built by this team, it is an infrastructure platform which can be applied in vertical sectors.

After the launch of IFTC, blockchains will approach commerce more closely via four designed schemes as follows:

A.Digital cryptocurrencies can be flexibly issued as sub-currencies through unique models of blockchains;

B.IFTC will develop payment and clearing systems by the methods of block confirmation and 3 points accounting(DRAW), in order that a circulatory financial ecosystem can be constructed among consumers, merchants and commercial organizations.

C.Safe and high-performance account systems will be helpful for recording, paying, spending, depositing or transferring personal digital currencies.

D.IFTC will break the dominance of centralized digital asset exchanges to really realize the essence of transactions between dealmakers and favour all commercial or industrial organization to create, develop and maintain their own decentralized digital asset Exchange at the minimum costs.

The practical applications of smart contracts and transactions of cryptocurrencies will be standardized, so that routine users can smoothly experience distributed ledgers. Likewise, through demonstrating the actual application of blockchains in different vertical fields, we hope to enrich people’s knowledge about these technologies and their potential applications while helping different commercial and industrial

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Consensus Mechanism

"Consensus mechanism" - through the voting of special nodes, the verification and confirmation of the transaction is completed; for a transaction, if several nodes with irrelevant interests can reach a consensus, we can think that the whole network can reach a consensus. To put it more casually, if a group of irrelevant people, for example, Chinese Weibo figure, a US virtual currency player, an African student, and a European traveler, they all agree that you are a good person, then it can be concluded that you are not a bad person.

Traditional Consensus Algorithm

1、Proof of Work;

2、Proof of Stake;

3、Delegated Proof of Stake;

4、Verify the pooling(Based on Practical Byzantine Fault Tolerance).

BTC is the foundation of POW、POS、DPOS,their consensus basis is as follows

DRAW+DBRT

Innovative Consensus Algorithm

1、Double Reverse Annulus Work

2、Double Block Refrigerating Technolog

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Team Introduction
  • Marco
    IFTC MC
    Domestic expert in internet technologies; As full-stack architect, he is proficient with frontend/backend architectures, design and development. Having designed and developed large-scale mobile payment and settlement systems for supporting mobile payments of several banks such as Pudong Development Bank and China Merchants Bank, he has accumulated abundant experiences in designing and developing internet systems for vertical financial fields. In 2016, he got down to exploring blockchains.
    Dogi Li
    IFTC MC
    Senior Business Model Architect。He holds the Bachelor’s Degree in Chinese Language & Literature from Shenzhen University, the Bachelor’s Degree in Business Administration from Sichuan University and the MBA of Southwestern University of Finance and Economics. He is an independent investor, leader of the Blockchain Research Group in the China Academy of Management Science and vice president of the Enterprise Innovation and Development Association of Guangdong Province.Having established several science and technology companies, he has engaged in internet, real estate, payment, financial sciences and technologies for more than 15 years.In 2013, he got down to intensively exploring business models of blockchains.
    ZhiJing Lun
    IFTC MC
    With the Bachelor’s Degree of Science in international commerce, he undertook courses about CEO management in the Harvard University. He has embarked on strategic business development and operations of Asia and North America for 2 decades. Having established several enterprises, including IDS, Mission 3-D and Pharos Medical Device, he is the leader of family enterprises and several transnational enterprises.
    Kiky
    IFTC MC
    She worked in the R&D Management Department of TENCENT TECH. In 2015, she embarked on financial sciences and technologies, with rich experiences in gathering, settlement and mining derivative data of vertical financial fields. In 2017, she got down to studying blockchain products and technologies, assisting in developing blockchain products and building communities.
  • Joshua CM
    IFTC MC
    Independent Investor,As co-founder of Urban-rural Reciprocal Assistance Project of Assisting Manor (NGO), associated director of United Hotel Management Co., Ltd and entrepreneur of self-media, he is adept in creative planning and marketing for brands. In 2015, he began to devote himself to blockchain research and community planning.
    Menson Pak
    IFTC MC
    With 3 years of experiences in internet finance, he got involved in the financial cooperation of a domestic leading mobile payment service provider (ULINE) with banks from scratch to 1, from 1 to 27 banks by 2017. He has rich experiences in internet marketing and brand planning.
    Charming
    IFTC MC
    Graduating from Shenzhen University with double degrees in Biotechnologies and Chinese Language & Literature, she got involved in new media advertising strategies and development of well-known projects such as the project of The Beijing News for seeking Chinese makers, world internet conferences, My New Swag and cross-strait world internet conferences. She leads her team to track project schedules, marketing, advertising and promotion.
    Atticus
    IFTC MC
    Graduating from the London Business School with the Master’s Degree in MBA and Computer Sciences, he came from the HQ of the Barclays Bank. With 8 years of experiences in business strategies and formulation in retail banking, he has accumulated 6 years of experiences in developing applications for real-time transactions of investment banks.
  • Xavier
    IFTC MC
    He graduated from the University of North Texas with a degree in computer sciences of software in 1999. He was employed by Nortel Network, worked as R&D Manager of SUSE Linux in Beijing and Taiwan, and CTO of Symbio Mobile. He has worked as SUSE’s consultant for distributed file systems of Ceph, and blockchain consultant of WeBank and 5miles.
    Caleb
    IFTC MC
    He is Ph.D of UCL, senior Java full-stack developer, participant of projects in UCL’s Blockchain Center and project architect of the Big Data Research Center of Alan Turing Institute. He served as architect and higher posts in the Citibank, the Bank of America and the American Express. During his employment for UCL, he was responsible for collaborating with central banks, investment banks, hedge funds, clearance centers and science & technology enterprises in terms of project research and development.
  • Caleb
    IFTC MC
    He is Ph.D of UCL, senior Java full-stack developer, participant of projects in UCL’s Blockchain Center and project architect of the Big Data Research Center of Alan Turing Institute. He served as architect and higher posts in the Citibank, the Bank of America and the American Express. During his employment for UCL, he was responsible for collaborating with central banks, investment banks, hedge funds, clearance centers and science & technology enterprises in terms of project research and development.
    Caleb
    IFTC MC
    He is Ph.D of UCL, senior Java full-stack developer, participant of projects in UCL’s Blockchain Center and project architect of the Big Data Research Center of Alan Turing Institute. He served as architect and higher posts in the Citibank, the Bank of America and the American Express. During his employment for UCL, he was responsible for collaborating with central banks, investment banks, hedge funds, clearance centers and science & technology enterprises in terms of project research and development.
    Caleb
    IFTC MC
    He is Ph.D of UCL, senior Java full-stack developer, participant of projects in UCL’s Blockchain Center and project architect of the Big Data Research Center of Alan Turing Institute. He served as architect and higher posts in the Citibank, the Bank of America and the American Express. During his employment for UCL, he was responsible for collaborating with central banks, investment banks, hedge funds, clearance centers and science & technology enterprises in terms of project research and development.
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