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EMU Global Senior Consultant Li Chaojun: EMU will push the blockchain industry into a new era of development

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EMU Global Senior Consultant Li Chaojun: EMU will push the blockchain industry into a new era of development

January 03
17:15 2020

Li Zhaojun is a Chinese Korean, native of Ningbo, Zhejiang, China, a master’s degree from Harbin Institute of Technology, and a PhD in business engineering from the Korea Academy of Science and Technology. He has previously worked as a member of the Samsung Electronics Product Operations Department and the LG Business Operations Department. Joined South Korea Bizmodeline in 2015 as the director of the Ministry of Industry Planning, responsible for the strategic cooperation of Asian blockchain patent investment, joined EMU in 2019, and served as a senior consultant for EMU business operations.

As early as 2011, Li Chaojun began to get involved in the research of Bitcoin and encrypted digital currencies. He was one of the most active and influential Bitcoin promoters in Korea at the time. So far, he has helped dozens of blockchain projects to provide top-level architecture, the optimum Business model layout.

In 2019, after joining EMU, he served as a senior consultant for EMU business operations. This project was founded in 2016 by Jessy Popejoy and Martino Caratti, well-known blockchain experts in South Korea and the United States. The blockchain project has raised more than 35 million US dollars from a number of venture capital investors including Aquarius Capital and Daikin Venture.

After three and a half years of development process and stress testing, EMU will go beyond existing smart contract blockchain solutions such as Ethereum and solve the Bitcoin proof-of-work scalability problem.

At the just-concluded Asian Blockchain Alliance Forum, EMU was invited to make a keynote speech on the development prospects of the alliance’s public chain.

Li Chaojun pointed out that because blockchain can bring extremely high data accuracy and security, this is particularly important in the era of big data. Utilizing the technical characteristics of the blockchain can reduce the transaction cost and complexity of the system, and increase the transaction and settlement speed. The ultimate mission of the blockchain is to achieve a distributed ecosystem by distributed commerce through smart contracts, codes, and legal arrangements, agreeing on business points and circulation methods.

Talking about the innovation and breakthrough of EMU technology, Li Chaojun said that EMU is a high-speed public chain focusing on distributed commercial landing applications. From “eating, drinking and playing” to “clothing, food, housing, and transportation”, it empowers the traditional Internet. Block chain. EMU is currently the world’s fastest public chain, with a peak TPS of 120,000, and the test network has been launched.

At present, the problem and bottleneck of blockchain 2.0 is that it is too slow. Bitcoin’s transactions per second is 3 ~ 7TPS, Ethereum is 15 ~ 20TPS, and EMU reaches 120,000TPS. The main members of the EMU R & D team are from the IBM distributed ledger native team. They cooperated with Professor Whitfield Diffie, the father of modern cryptography and Turing Award, to become the most important “global acceleration project” in his laboratory.

At the same time, EMU has obtained three international patents based on an innovative reputation proof consensus protocol distributed network and ecosystem, zero-latency access technology in blockchain, and a reputation quantification system based on blockchain technology. POR reputation consensus algorithm, with a peak speed of up to 100,000 TPS, easily achieve sub-second transaction verification.

In terms of distributed applications, EMU has set up incubators in New York and Shenzhen, and has incubated 20 (quasi) killer applications in depth. These include well-known projects such as digital currency exchanges, social welfare, smart cities, cross-border settlement of blockchains, and financial supply chains.

Regarding the future development prospects of EMU, Li Chaojun said that the pace of technological development in big data, cloud computing, artificial intelligence, 5G, blockchain … has never stopped. Based on the services provided by EMU, the traffic, reading, promotion, Wisdom, value, etc., will realize accurate confirmation of rights, dig weak value, and have the opportunity to change the traditional business and company’s concept of traditional currency.

EMU, with its properties of safe, reliable and efficient basic public chain, paved the fertile soil for the future large-scale commercial application. At the same time, EMU is also taking technology as the core to form a joint force of developers, communities, and users, build a traffic interaction platform and application incubation, and form a positive, healthy, and harmonious prosperity ecosystem, and gradually enter the industry. The era of the development of blockchain technology.

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