Focus on IFTC, rebuilding global business with blockchain technology

July 6, 2018

Supported by blockchain technology, and based on decentralization and credit restructuring, all commercial organizations and industry organizations can create and maintain their own decentralized digital asset Exchanges at the lowest cost, and let each Industry data flows with each other to create an ecosystem that can form a closed loop in business logic and achieve the goal of reshaping global credit commerce using blockchain technology. This is the original intention of the IFTC team. Currently, IFTC’s business coverage covers many parts of the world including mainland China, Hong Kong, Macau, Taiwan, Japan, South Korea, Singapore and the United States.

It is reported that the IFTC team’s predecessor has been serving the banking industry’s financial technology innovation, leading the development and maintenance of the bank payment settlement system and account system with the payment and settlement system as the core. 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. At this point, the IFTC team promote the trust between consumers and businesses. Reform of financing model, restructuring global business, launching to global users

Internet FinTech Chain (IFTC): a platform was built, 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:

  1. Digital cryptocurrencies can be flexibly issued as sub-currencies through unique models of blockchains;
  2. 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.
  3. Safe and high-performance account systems will be helpful for recording, paying, spending, depositing or transferring personal digital currencies.
  4. 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.

IFTC promotes blockchain technology in the mainstream commercialization field by demonstrating the practical application of blockchain technology in various vertical fields. IFTC founder Li Hangjun said: We hope IFTC can be a blank canvas, any individual, commercial Organizations, industry organizations can create their blockchain application on it. The purpose of the IFTC protocol is to reconstruct the world’s business system so that its core features can be combined in any way. Ideally, data acquisition and processing at IFTC will leverage the IFTC blockchain to create solutions that will rely on decentralized consistency to deliver new products and services that were previously unavailable. We hope that IFTC’s practical application of blockchain will broaden the understanding of blockchain technology and its potential applications, and help various commercial organizations and industry organizations to reconstruct their own business systems.

Due to the distributed ledger record of the blockchain, all events can be transparent and non-tamperable, and the value measurement and circulation of the Token economy and smart contracts will ultimately change the entire ecological model of global commerce. With the deepening of IFTC’s exploration in the blockchain field, different participants will deepen their understanding of the blockchain. In the future, IFTC will iterate more ideas, and a richer ecology will be born in the IFTC infrastructure chain. The blockchain is moving towards mainstream business and people.

In terms of technology implementation, in addition to the consensus block algorithm, smart contract and cryptocurrency system and other blockchain domain technologies, IFTC also uses the payment transaction settlement system and the locked payment system to complete the digital currency application public chain, including smart contracts, digital currencies. The payment transaction settlement system, the acquiring system, the locked payment, the decentralized exchange and other applications are underlying. In order to ensure that the server storage costs are dispersed through distributed nodes, a closed loop of commercial ecological profits can be achieved. As a universal encryption token for IFTC’s entire ecosystem, IFTC has extremely deep commercial value and broad application scenarios.