Juneau News Updates

SCRY.INFO highly data driven blockchain society

SCRY.INFO highly data driven blockchain society

Edit: Di Hui

Website: http://www.jinse.com/news/blockchain/91208.html

Introduction: SCRY.INFO, or Boundless for the Chinese name, is a both flexible and scalable open protocol, enabling a wide-range use of blockchain applications for groping, integration, swarm intelligence and prediction of the authentication of truthful data.

With the acceleration of global integration, information is spreading faster and faster with cost increasingly lowered while the boundary of transmission is blurring, which brings us convenience but concomitantly increases our trust cost. In an American social survey in 2012, only 32% were willing to trust one another, far lower than 46% in 1972.

However, as blockchain, the underlying technology for bitcoin, came to light during 2012, its revolutionary concept of decentralization relieves us of the necessity for a third party for trust endorsement, significantly bringing down social trust cost. After entering 3.0 era, blockchain has swiftly extended from finance to all walks of life with large and small blockchain projects springing out like mushrooms after rain.When interviewing SCRY.INFO, Jinse.Com said that though they have reported many distinctive innovative projects, they still felt excited when recently making contact with SCRY.INFO.

Eva Foo, the CEO of SCRY.INFO visited Jinse.Com in early November and talked about the backstory of SCRY.INFO.

 Before SCRY.INFO, Eva has operated 5Ufarm, a blockchain service system of supply chain for two years. It is a agricultural supply chain project based on blockchain technology.With the use of blockchain, 5Ufarm manages to covered all nodes and links of data from farms’ IOT data in the upper end to supply chain and all the way to end consumers. “We’ve managed to achieve profits last year but the system revenue fall short of 10 million than our projected revenue due to the affliction of typhoon.”

The “depending on nature” tradition in agriculture and multi-risks related to changes in international trade policies forced Eva to halt and rethink on how to overcome business bottleneck so that blockchain can service more industries with a lower access requirement.

According to Eva from her experiences with businesses and customers, only a minority of enterprises truly understand and accept blockchain, which in essence can be ascribed to technological difficulties and limited industry knowledge level Therefore, the team worked hard to create a blockchain service platform simple and easy for every industries. Here came SCRY.INFO in response.

However simple and easy are not the words fit to describe the research and development of SCRY.INFO. In order to sort out a reasonable and verifiable method from complex industry data redundancy, SCRY.INFO redefined the process of modeling, simulating and interpreting data, analysis and judgment, storage for mapped data as well as modules for logging and authenticating. SCRY.INFO protocol made it possible for blockchain smart contracts to share and verify the source, process and judgment and analysis of withdrawn true data.

“Our purpose is to bring more industries and customers into blockchain and using blockchain while experiencing the high efficiency and profits brought by smart contracts including lowering cost. Thereby a protocol layer must be in place for more industry data to come in and use smart contracts.” All communications in software systems are in essence data recalling. We solved the problems of the upper end of the data, possessed sources of real data for win-win and co-operations and helped users create value and build a business system for application products.”

Hence, what sets SCRY.INFO apart from other blockchain projects that raise fund first then develop, SCRY.INFO accomplished the development of business and function tiers on the onset of its project. SCYR.INFO has completed its first version of the function module for business services that includes data supply for basic data protocol layer, smart authorization and data contact translation as of November. It also plans to open the version of blockchain data contracts for application business services to its partners in early 2018. Eva added that SCRY.INFO would strictly follow the plan set out in white paper and publish a new version every 6 months.

As a technology savvy herself, Eva defines SCRY.INFO as a true-data-based blockchain protocol layer that is quantifiable and open for trade. SCRY protocol can facilitate the realization of global data. Both BAT and individual developers will be able to upload data sources following protocol regulations and then realize transactions after the authorization and authentication of SCRY.INFO. A third of GAS from smart contracts will be returned to data suppler or data authentication party while one third will go back to publisher of recalled data and the final third to people possessing the Token in the world.

To guarantee the authenticity of data, SCRY.INFO created an exclusive group authentication. Group authentication refers to the smart group authentication of data automatically or under mandate entering blockchain data nodes from category-based industry data sources with the use AI machines during the process.

In terms of business, group authentication is the new blue sea with vast prospect. She took a few examples to explain: “At the moment, the scale of data requiring authentication is tremendous. Now these oceans of data can enter SCRY platform, undergo group authentication and share with the world through SCRY transaction. It is similar to traditional notarization except that all data during the process relies on smart contracts.” Group authentication has now been completed its preliminary development and passed all node test for private chains.

As for data management, Eva simply explained it as the classification, integration, authentication and transaction and sharing of data. SCRY.INFO has in place a credit rating for data suppliers. When a data is recalled only a few times and its financial mobility is bad, it will be gradually replaced and phased out by other data with larger recall times. Hence SCRY.INFO is also an open and free economy system. Despite the fact that data with the endorsement of large data supplier may be more popular among users, SCRY.INFO officials will not voluntarily recommend or make matches. There will never be a third party in SCRY.INFO ecological environment.In place of traditional intermediary role of man, smart contracts swiftly reduce the fees for valuable data realization in old systems with third party existed and bring it into machine-based data fictional contracts.

Statistics say that SCRY.INFO has obtained first-hand data sources from 1382 data suppliers in 182 industries from 13 countries, covering an assortment of sectors including agriculture, finance, logistics, aviation, medical, competitive sports, entertainment and movies as well as biological technology.

When talking about the subversive potential of blockchain, Eva Foo envisaged a social scene with banks.

“In this scene, banks is replaced by formalized financial institutions while smart contracts is what we mean by formalized financial institution. “Smart contracts can store every personal data tags such as purchase power, consumption preferences and communication locations of cellphones.After the distillation of authenticity and uniqueness by blockchain technology, data can be built into a financial model combined with big data analysis whereas the forms of transaction are through a variety of machinery verification. However, with the backup of blockchain technology, data authenticity is guaranteed and the credit model based on blockchain smart contracts can completely supplant the functions of traditional financial institutions.”In the future, we won’t need a redundancy of labor to work. We only need a smart and distributed technology society based on blockchain.”

In terms of application scenarios, SCRY.INFO can provide blockchain services for every sectors and support the inputting and recalling of data sources from sports games, flight information, entertainment information, news sources, scientific research and academic, weather, finance and social hot spots, and freely set different data hot spots to obtain estimated outcome parameters. In a blockchain data contract with complete Turing, developers can easily establish their own client DAPPs and recall ambient cross-industry categorized data to transact and settle accounts.

After went through a three-year active exploration and experience of blockchain business market and cumulative technology practice, the core development team of SCRY.INFO protocol is unremittingly expand their new journey. However, one organization can only create so much technology and knowledge. Openness and sharing consensus are the core sense of value for a blockchain society.

SCRY.INFO will gradually release its source code after a quarter of fund-raising. Group authentication in main protocol layer and the development of entrusting supply and referendum functions have been completed since the beginning of this project in July this year. SCRY.INFO will complete the development of DAPP in the upper end by the third and fourth quarter next year. And all function modules of SCRY.INFO will be in full effect by 2020.

Media Contact
Company Name: Jinse
Contact Person: DI HUI
Email: [email protected]
Phone: 010-65368339
Country: China
Website: http://www.jinse.com/news/blockchain/91208.html