In life, we often view the world in terms of how it directly affects us. We might watch the local news to find out what’s going on in our city, keep up on the politics happening in our region, or stay current with major country wide events.
In today’s internet connected world, it is just as important to follow the global economy as it is the local stuff. Things that happen on the other side of the world can have just as much effect on us as something happening right down the street.
In the case of blockchain technology, this is especially true. The best minds in the industry are scattered all over the globe. As we speak, there is probably someone pioneering an idea that could change the world. Occasionally, it is fun to take a deep dive into what’s going on in places that we normally wouldn’t look at.
Today I want to focus on a leader in the global economy, and a rising star in blockchain innovation.
China is a populous nation in East Asia whose vast landscape encompasses grassland, desert, mountains, lakes, rivers and more than 14,000 km of coastline. The capital Beijing mixes modern architecture with historic sites such as the Forbidden City palace complex, and Tiananmen Square. Shanghai is a skyscraper-studded global financial center. The iconic Great Wall of China runs east-west across the country's north.
China is the world's second-largest economy in terms of gross domestic product (GDP), amounting to approximately 10.93 trillion U.S. dollars in 2015, while China's GDP per capita was about 7,990 U.S. dollars, equivalent to about 14 percent of the GDP per capita of the United States in that year.
These are big numbers. When a nation of this size decides to support a new technology, such as blockchain, the world should really pay attention.
Recently, on state-run China Central Television, a show named “Dialogue” aired a one hour blockchain special. The host, Chen Weihong, made a bold statement saying that he thinks blockchain is essentially the internet 2.0 and has a value 10x that of the original internet.
The guest on the show was Zhang Shoucheng, a physics professor at Stanford University and founder of Danhua Capital, a venture capital firm that invests in blockchain technology.
In response to Weihong’s remarks, Zhang went on to say, “While the real value of the internet is aggregating individual pieces of information into one place, which is exactly what Google and Facebook does, we are now entering an era where information is being decentralized so that individuals can own their individual data. And that's the real value of blockchain that makes it exciting."
With the recent consolidation of all of China’s state-run media outlets into what is called “Voice of China”, Zhang's statements, that were broadcast to 10’s of millions of Chinese citizens, carry a lot of weight. It is in essence, the Chinese government sponsoring pro-blockchain dialogue. This is a stark contrast from previous viewpoints on blockchain held by the government there.
Let’s examine Zhang’s statement a little closer and find out what it could mean for new and promising start-ups that choose to deal with the Chinese government. Zhang stated that we are entering a decentralized model where individuals own their own data, instead of the big companies. I knew I had heard that before so I pulled up my file of whitepapers, and started looking.
I was reminded right away of Gemstra’s core values in their revolutionary social selling model. I did a little more looking and there it was in black and white. From section 1.3 of Gemstra’s whitepaper: “Social selling is dominated by giants like Amway ($8.8B), Avon ($5.7B), and Mary Kay ($3.5B). These merchants hold their Sellers captive by making it difficult, if not impossible, to transfer customer data, transaction data, and genealogy (network) data.”
This was the exact paradigm shift that Zhang was referencing in his appearance on China state-run television. In Gemstra’s case, the sellers will own their own data, unlike all previous social selling models. This one fact alone sets Gemstra apart from the rest of the competition.
Here’s the kicker though. Not only does the Gemstra team share the same philosophy as a famed Stanford physics professor & successful venture capitalist, but Gemstra has just recently traveled to China where all of this new blockchain buzz is happening… and the word is, they didn’t leave China empty handed.
A credible source has relayed to me that Gemstra has set the framework to enter the Chinese market. Gemstra has just finished a series of week long meetings with important contacts, according to my source. The same source also stated that Gemstra is in talks with prominent company looking to take advantage of the upcoming crypto boom. I have been told that more details will be released by the team in the coming days!
The details of Gemstra’s impending involvement in the booming tech economy are starting to become clear. Not only does Gemstra have a strong vision, they also now possess the tools to accomplish it, not just locally, but all over the world.
To learn more about Gemstra please visit www.gemstra.com