As posted by Elastos on Medium
Dr Feng (Sunny) Han, is one of the most reputable and respected blockchain thinkers in China. Mr. Han is also recognized by tens of thousands of blockchain and cryptocurrency enthusiasts. He is a cofounder of a blockchain company, Elastos. Within these past few months, he has been traveling the United States to many renowned universities and schools where he continues to spread awareness of Elastos and Blockchain. The schools and universities Feng Han has visited are New York University, Boston University, Harvard University, Purdue University, and more in the future.
Elastos Presentation at Cheung Kong Graduate School of Business
On March 31 2018, Feng Han visited Cheung Kong Graduate School of Business (CKGSB) where he gave an Elastos presentation to an audience of about a hundred people, co hosted by Mr Kenneth A. Goodwin Jr. who is the Senior Managing Principal and President of Jeanensis Capital Markets. Before Feng Han began his presentation he mentioned on how he met with Jim Glassman of JP Morgan. Jim Glassman, the Managing Director and Head Economist at JPMorgan Chase & Co. and Feng Han explained that the two had a conversation about Elastos and blockchain opportunities for Wall Street. That was all Feng Han could say about his meeting with Jim Glassman.
To summarize main points of Feng Han’s presentation, he first started off with the history of the Industrial Revolution and how in time it progressed to the new smart economy as we know today. In this new smart economy, he explains that when we do any business, businesses give us trading confirmations. Through this trade, he states that there is a “trading big bang in our global economy” and the outcome is called “Big Data”.
“Big Data” is data that’s extremely large data that could be used to reveal patterns, associations, and trends like human behavioral interactions. Data that could be analyzed can come from any devices that connects to the internet or anything that leaves digital footprints. For example, communication with our family or friends through social media outlets, GPS equipped smartphones and shopping. With all this information being created through trading and the internet, Feng Han pointed out that we do not own our “Big Data”, and we do not profit from it because our data is being controlled and profited from big internet companies.
Facebook is an example, where in recent news reports, the topic of scandal concerning our “Big Data” and how Facebook profits from our data. Feng Han believes that other big internet companies like Alibaba, Tencent, Google, and other similar corporations, could have a similar scandals in the future because they all have similar business models as companies like Facebook. Even if these companies do not use our “Big Data” to profit from, we still do not own our own data. So how can we own our data?
Controlling your own data is the main point of Feng Han’s presentation. How can you control your own data and make it your own asset? Feng Han states, that with Blockchain technology and Bitcoin we can achieve such proposals. Blockchain can authenticate data because data belongs to you through a private key. You can trade your data by signing on and off the blockchain, allowing yourself to profit from it. With this, your data can truly become your own asset and becomes your own digital gold.
The final part of Feng Hans presentation is how popular Bitcoin and Ethereum are currently, but has congestion issues and how Elastos was created by Rong Chen and Feng Han to alleviate those issues while profiting from your own data. Elastos is the world’s first internet operating system focused on decentralizing the internet with blockchain. In short, Elastos combines a trustworthy ledger, smart contracts, monetizable dapps and digital assets.
After the presentation was completed. Feng Han and Mr. Kenneth A. Goodwin Jr. had open conversation about Feng Han’s journey. They talked about Feng Han’s background in quantum physics and involvement in Blockchain and Bitcoin. He found success and wrote “Blockchain: Quantum Wealth” and was the best seller in 2017 in China. Feng Han describes his experiences with Rong Chen and how they came together and co-founded Elastos. Feng Han exclaims that the Elastos community is a very big part of their success and that without their communities support they would fail.
Mr. Kenneth A. Goodwin Jr. talks out about Blockchain in China, and points out that Bitcoin is considered a non monetary digitized asset in China and how ICO’s are banned. In China, cryptocurrency exchanges are outlawed and have placed restrictions on bitcoin mining. Feng Han was asked what the future holds for cryptocurrency in China. He believes that the future of blockchain in China will be in New York, Singapore, Tokyo, and in Europe. That’s one of the reason why he left China, because Blockchain is worldwide and not local.
At the end of the discussion, Feng Han was asked about his work in Columbia University. He plans to fund and open a research facility in Columbia University based on Computational Thinking and Quantum Mechanics which involves blockchain. He plans to stay in Columbia University for 5 more years to complete his research. Before the meetup concluded the audience was able to ask Feng Han questions.
Question and Answer with the Audience
Audience: As you know, Elastos is now not only a chinese recognized project but a global recognized project. What are your expectations for the future DAPPS. What do you feel the criteria for a good DAPP to be? Because as we know, most projects are mostly built and run on Ethereum. What are you view on Elastos and will Elastos be the next Ethereum or will Elastos take it further?
Feng Han: Most apps are built on the Ethereum platform. My opinion is Elastos will help fund P2P decentralized internet. We hope to change the business of the internet because right now it is centralized. We hope to create a p2p platform such as gaming, music, painting, and give more control of their businesses and their bottom line.
Audience: How do you see the market now? As we know bitcoin price fell from $20,000 to $7,000 today and also the price of Elastos has dropped. How do you reflect the true value of a blockchain project? Do you think the value of Elastos at its current price right now reflects its true value? Do you think it’s the best time to buy Elastos right now?
Feng Han: I never talk about price. In the last 4 years I have invested in coins and had success and earned money. We are certainly in the bear market and we have to face it. I believe we have more opportunity in a bear market, because I was involved in bitcoin when it was $100. So, I am all in because I believe in their value. If you hope to invest in some coin or item, you must wait. You must realize the true value and learn by researching their whitepaper and if you do enough research you will be able to decide for yourself.
There will be an Elastos NYC Blockchain Meetup in New York City and it will be held in Fordham University on May 12, 2018 where you will be able to meet Rong Chen and Feng Han.