With an Eye on Increasing Cooperation Among Distinct Public Blockchain Ecosystems, as Well as Between Blockchain and Traditional Industries, the Bitsclub Vision Program (BVP) Has Initiated the Public Chain Technology Alliance (PCTA). Pcta Is an Open, Cooperative and Inclusive Alliance to Promote Greater Collaboration, Rather Than Competition, Among Top Public Blockchains. It Aims to Synchronize Distinct Blockchain Ecosystems and Open Them to Millions of New Users and Developers.
On 24 October 2018, the Bitsclub Vision Program (BVP) officially launched the Public Chain Technology Alliance (PCTA), a diverse coalition of public blockchains committed to greater collaboration and focused on different aspects of the industry. Alliance members will set up common technical standards for public blockchains, connect blockchain ecosystems with developer communities, and bring their respective strengths to provide technical support for enterprises and other partnering blockchain projects. Moreover, PCTA will share their public chain technology with BVP to promote the development of public chain technology and development of quality on-chain applications.
The blockchain industry currently faces difficult challenges in developing real-world applications for traditional business industries. BVP aims to resolve this by bridging traditional industry sectors and blockchain. PCTA represents another step in this direction.
PCTA will cooperate to set up technical standards for public blockchains, which can help facilitate blockchain integration within traditional industries. The Alliance will also connect blockchain ecosystems with developer communities, to foster a more unified front for building the blockchain industry. Furthermore, Alliance members will provide technical support to partnering enterprises and projects qualified by BVP.
With these initiatives, PCTA aims to create meaningful growth in blockchain adoption among enterprises and professional users, to support BVP’s goal of introducing 100 million new users to blockchain technology.
The inaugural cohort of PCTA partners consists of top public blockchains, including Nebulas, Bytom, PCHAIN, HPB, NULS, XMAX, YouDeal, and Atlas Protocol. Each of these projects carries their own technical vision, and expanding, active ecosystems. These partners are top public blockchains in the industry with distinct technical vision or have a rich and active ecosystem.
For example, Nebulas has a distinct technical vision and strong ecosystem supported by over 6,800 DApps. Bytom has a strong protocol layer to connect the atomic world and the byte world which allows for circulation of assets between the two. PCHAIN has a native multichain technology supporting EVM. HPB could achieve high transaction speeds and minimal latency with the in-house development of blockchain hardware. NULS is developing a core product named “Chain Factory” to enable enterprises and individuals to conveniently build blockchains via a simple configuration. XMAX has a rich application scenario in the Pan-entertainment industry and is designed for the blockchain entertainment ecosystem. YouDeal has a strong user base and Atlas Protocol (ATP) is a blockchain application layer protocol aiming to build infrastructure for on-chain interactive advertising & marketing. The strengths of the partners can satisfy various business requirements.
Together, these blockchain projects bring unique strengths and specializations to satisfy the demands of a wide range of industries. Moreover, the PCTA is also monitoring further public chain partners with unique technical vision and strong ecosystems to jointly explore the development of public chain technology and explore sound application fields.
Acting as technical advisor of PCTA and a mentor for BVP is Dr. Songtao Pu of Peking University (Ph.D. in Computer Application Technology). Dr. Pu has been studying blockchain technology since 2016, and focuses on research within the Service Division of Information and Software Department at China’s Ministry of Industry and Information Technology (MIIT). At MIIT, Dr. Pu’s primary responsibility is to head the CCID’s Global Public Blockchain Technology Assessment.
Dr. Pu said, “The underlying foundation is of great importance for the application of blockchain technology. The sustainable and healthy development of public chains requires joint efforts from all sides in an open and innovative way. I hope that the Public Chain Technology Alliance (PCTA) can promote the collaboration of public chain projects, integrate the resources and advantages of all parties to drive the continuous development and innovation of public chain technology, so as to build a sound foundation for the application of blockchain technology.”
The Bitsclub Vision Program (BVP) was initiated by Hitters XU, founder of Bitsclub and Nebulas, together with Dr. Ye, partner at SoftBank China Venture Capital (SBCVC), and Danhua Capital, Oneboat Capital and Odaily. BVP aims to create a seamless connection between traditional industries and blockchain by focusing on projects with stable users and mature business models. With this, BVP sets out to explore highly relevant use cases for blockchain technology, with a vision of introducing 100 million new users to the blockchain world.