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BitCoin – Trading & Mining (und andere Crypto Currencies) 2017-12-12T06:16:01+00:00

Interview: Meeting DECENT in China – blockchain technology that you can actually build on

DECENT is a mashed perr2peer network with storage, encryption and monetarization features

With DECENT and DCore your use case of blockchain technology is waiting just around the corner

By chance I found out that the token DECENT (DCT) I invested in an ICO a few month ago operates an entity in Shanghai – relative near to the place I live. As an expat in China, crypto enthusiast and evangelist, who is interested in all trading, mining, and developing, you seldom have the chance to see in person how your investment is going and so I contacted Xiaomin Wang. She is the General Manager in China of DECENT (DCT) – a crypto-currency and token of a peer2peer network, which claims to be a new way of publishing, to eliminate 3rd parties and to transport content directly from the author to users in a fully encrypted and secure way, and to provide an easy to manage integrated payment option.

It was a good news that Xiaomin Wang agreed to a meeting and found some time between Christmas 2017 and Chinese New Year 2018 to answer a few questions about DECENT. I met her in her Office in Jing’an district near Jing’an Temple in the heart of the pulsing metropolis of Shanghai. Our conversation took place in the pleasant atmosphere of a coffee bar sourrounded by meeting rooms shared by the connected offices. Xiaomin Wang is a very friendly and competent person and seemed to be pleased and proud to provide information about DECENT, its features and abilities.

Questions & Answers

Question (Jens Schendel):
Nice to meet you. Thanks that you found some time for me and to answer some questions about DECENT for my readers.
Answer (Xiaomin Wang):
Nice to meet you Jens, I was really surprised to find a German blockchain related medium founder living in Shanghai, thanks for visiting our office there.
[Editor’s note: Feeling flattered to be called medium founder — feeling like an ordinary blogger. :-)]

Q:
You are a lawyer, engineer and expert with profound experiences in the blockchain industry. How you found your way to become General Manager for DECENT in China?
A:
I have been working with founders of DECENT since before this project was born, I was a co-organizer of the first bitcoin expo in Shanghai in 2014, Matej Michalko was CEO, it was a successful cooperation, about 3 months after the conference, the first ideas for DECENT began to form. Shortly after their initial talks I spoke with them and I decided to join this project. My skills, location and connections and the company’s interest in making a global impact, made my placement in the GM position very natural.

Q:
DCT is a not so well-known token in the world of crypto-currencies. In simple words, how does DECENT work and what services does the wallet offer to the user?
A:
DECENT is more of a foundation, focused on using the power of blockchain to take on some of the biggest issues of our digital age. At the heart of DECENT is DCore, our proprietary adaptation of blockchain technology that you can actually build on. With native IPFS integration and extremely fast transaction speeds, this technology is set to revolutionize the way digital data is exchanged by providing simplified, decentralized and borderless content and data distribution. Strong cryptography ensures the highest level of security and trust. Best of all DCore is an open-source solution for companies looking to fast-track their own blockchain-based ideas. DCore really has two layers the core layer and an interface layer. The core is made up of two parts the DECENT daemon (the blockchain bit) and the IPFS part (which handles data and file exchanges). The core handles all the networky/technical stuff. The interface layer can be pretty much anything the developer wants, a web store, a VOD platform. None of it works without DCT. Currently we have a web based wallet on DGo

Q:
So what is the use of the token itself? What value is it representing?
A:
DCT or Digital Content Token is an essential element of DECENT. This purpose-built crypto-token runs on a Delegated Proof of Stake algorithm which allows for safe efficient trading. DCT is the primary currency for buying and publishing content on any DCore based application and funds the miners and seeders that maintain the network. Even if the application interface is set up to use another currency, like USD, every transaction at the blockchain level is handled with DCT. Also, DCT rewards miners and seeders for performing essential functions on the network.

Here are the stats if any of your readers are interested.

Circulating supply:
51,306,089.37456890

Minable supply:
21,891,686.40

Total supply:
73,197,775.77456890

Q:
DECENT’s ICO took place at end 2016. That’s more than a year ago. What happened since then?
A:
After the ICO we were focused on development to deliver the initial product and meet the milestones from our roadmap. Two testnets were launched in early 2017 followed by the mainnet launch in June 2017 together with the online wallet and GUI client. Shortly afterwards, beta marketplace functionality was added to DECENT GO (currently being called DGo) which is a Google Play-like digital marketplace for any kind of digital content. Being in it’s a beta version, DGo demonstrates one of the many possible use cases DCore. we have also grown significantly, our team currently has approximately 60 full-time employees from all around the world with offices in Slovakia, China, Switzerland and USA. Now we have multiple partners who are developing DApps on top of DCore, but we are still looking for new partners to support the growth of DECENT ecosystem. Not that you need a partnership with us to build on DCore, remember, it’s open source, but if you are looking for a blockchain for your app or business why not get in touch with us. We encourage all developers interested, to join our Slack channel.

Q:
What have been the biggest challenges for DECENT so far and how did DECENT manage them?
A:
One of the biggest challenges was to find the right people to work with. We put a big emphasis on our hiring process and choose our team members very carefully. The whole team is composed of passionate professionals who believe in the potential of DECENT and our technology.

Even though blockchain is a relatively new technology it has a potential to change the way we live & do business. We have managed to build big fanbase across social channels and the entire DECENT team pays attention to our community and attends events throughout the world. We are trying to spread the word and let people know about the advantages our technology brings to the world.

Another major challenge was to fully understand and implement marketing strategies that work for both the crypto-world, which is unlike any other field, and for the more traditional businesses and industries where we believe DCore will have a major impact. We are actively working to bring blockchain to some amazing real world uses. It is often difficult to get both sides to understand one another, but by sharing general knowledge of blockchain we are able to break down barriers. We will continue to seek experienced industry partners and fine tune our SDKs and APIs to fit their needs.

Vision: Revolutionize data distribution

Q:
What goals DECENT wants to archive in the farer future? What is the vision?
A:
Revolutionize data distribution on the internet and work with industry leaders around the world and use DCore to solve major problems in our global digital ecosystem. Things like, bringing power and agency back to content creators or collection micro payments in developing economic regions. DCore really has some amazing potential and we are eager to see how far we can take it.

Q:
So censorship-resistance is one of DECENTS‘s main assets? Can you explain the importance for DECENT’s role as a global content distribution network?
A:
So as far as I see it, DCore’s strongest features are things like real-time attribution, instant settlement, payment contribution, revenue sharing, and digital content crowdfunding. Giving power to creators by reducing the reliance on middle-men and giving authors a way to avoid censorship would both be benefits granted by the application interface, This is something we are exploring with our first application interface, DGo, but let’s be clear, when building an app on DCore, one could take a more centralized role, by, for example, curating authors or content. DCore does allow for true decentralization though, so it can get kind of hard to draw this distinction.

DCore gives you things like instant transactions, allows you to publish data, share P2P, etc. Applications built on DCore can be set up in virtually any way. It could be like Netflix or MegaUpload, it is all up to the individual developer.

Q:
What do you see DECENT’s advantages compared with other existing content distribution networks based on blockchains like steemit, yoyow or streamr?
A:
DCore is more of an underlying protocol, not just a DAAP, with DCore, one can achieve more than just content distribution. From decentralized crowdfunding to instant revenue sharing, DCore revolutionizes relationship between technology, creators and consumers.

Q:
Do you see special options and/or opportunities for content providers — both globally and in particular in China?
A:
Yes, DCore automatically ensures trust and facilitates transaction directly between creator and consumer. This direct connection allows for instant settlement or payment. Plus all the other benefits that come with DCore. There is also a huge opportunity for existing distribution platforms to use DCore to offer better services and conditions for their contributors and consumers. In China there isn’t a way for content creators to directly monetize their online products. An app on DCore could easily open a lot of doors.

Q:
DECENT’s core team, advisors and ambassadors are a motley international team from all over the world due to the fact that DECENT is, from the beginning, shooting for a global market. Do you expect DECENT to face problems with operating a censorship-resistant protocol in the PR China or other countries with similar tight information control policies?
A:
Technologically, censorship-resistance is not the purpose of this project, as i mentioned above, it’s about using blockchains unique capabilities to solve real business problems. Avoiding censorship and bringing the power back to creators happens at the application level. For that we will have to see where DGo, or some other platform, takes us.

Q:
DECENT allows the author to easily monetarize content. Critical observers see DECENT could become some kind of marketplace or platform to spread copyright-protected material only. What do you reply to that people?
A:
DCore is open source technology, like the internet, it can be used or abused. App developers are ultimately responsible for the content allowed, in a truly decentralized system, built owned and operated by user, site it’s possible. For our own marketplace , DGo, we are DMCA compliant. Putting up illegal material would be financially risky. Should your content be removed due to copyright violation your seeder fees would be lost and , once implement, a black mark in the reputation system could damage the uploaders credibility or prevent accounts from uploading in the future. Again, it is all up to the creator/s of the interface..

Q:
But what about content that is considered illegal in most parts of the world or ethically questionable content?
A:
Again, this is up to the creator or creators of the application. With DGo, the idea it to strive for decentralized trust. People will be able to rate the content and its author as well as report harmful or inappropriate content. Protections can be implemented on the application level. People can publish any genuine content which has no legal issues. Specific cases are currently being discussed with our law agency.

Q:
How can a simple wallet user see, which files are useful, legit or “legal” without paying for and downloading them? Is there a preview option?
A:
Author profiles are required for DGo. If, as is recommended, authors add a description to the content they publish or even display a short preview, potential buyers will have more reasons to trust the seller. The whole point is to use a decentralized blockchain platform to provide trust. If authors don’t appear, or prove to be, trustworthy, the platform will fail, so it’s in everyone’s best interest to “play fair.”

Moreover, the rating mechanism will let users to determine which content is worth buying and which is not.

Q:
On DECENT’s website you can find a section about DCore. What is that and what is it good for?
A:
I hope that I have already cleared up the differences between DECENT the foundation, DCore the technology and DGo, just one of the possible applications built on DCore. Just to be sure, though because the lines are a little hard to see. DCore is the blockchain functionality and IPFS integration for file sharing and data transactions. DCore is responsible for the generation, storage and synchronization of blocks and management of P2P transfers. The main purpose of DCore is to allow for other companies and developers to use our technology to launch new and innovative products or re-imagine already established ones on top of our trustworthy and secure blockchain network.

Q:
So can we expect more 3rd-party applications which use the DECENT token as a basis for their projects?
A:
I think so, any app built on DCore will use DCT to perform transactions and reward their network support. It is possible to of course to build your own blockchain, if you have the resource to do so, but many do not and it takes time. With innovations timing can be crucial to success. DCore, simply put can, get you there faster. As we improve our documentation and SDK we hope that more and more 3rd parties will build their ideas on top of DCore.

Q:
What‘s on your agenda or on roadmap coming ahead next — both short term and long term?
A:
We are currently updating our roadmap and development plan. DCore will see vast improvements in usability, specifically we are working on a more comprehensive SDK. And, at the end of last year we were able to open a lot of doors in the US that have led to some incredible talks and potential partnerships. News on all of this will be available very soon, probably before the end of January. As for long term goals, we want to be the go to technology for integrating blockchain and real-world applications and systems.

Thank you very much for the interview.

In person

Xiaomin Wang is an experienced lawyer, engineer and Blockchain expert with 3+ years of experience in the industry. She was part of the organization team of BitcoinExpo Shanghai 2014, BTC2B Congress Brussels and BitcoinExpo London 2015. Xiaomin worked as assistant to judge at Guangzhou People’s Court, later she joined DyStar and China Zhonglun, specialized on Corporation Law and IP legal affairs. She is passionate about the potential of Blockchain Technologies and currently serves as General Manager of DECENT in China.

About DECENT

DECENT Logo

DECENT claims to be a new way of publishing, but it came out that while building the underlying blockchain technology they developed an environment for building application on a blockchain. So DECENT and Dcore offer a basis for a wide range of applications to make use of the blockchain.

What do you think about the potential and the future of DECENT and DCore?

Legal note:
The author of this article holds DECENT himself. The article has informative character and is not to be understood as an advice to invest or not invest in DECENT (DCT).

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