To further broaden preexisting knowledge and enjoy the richness of the timeline of human history, humankind has in thousands of decades, accquired evidence of ageold languages, rites of passage, rituals, fossil, hieroglyphs and pictograms. One distinct attribute of all epochs however, is the evolution of the means by which humans spread information. In certain African villages, gong beating was carried out to garner attention and spread vital information.
With the advent of the internet however, we have a come a long way. Humans have adapted to the spirit of the times, utilized technology, improved upon innovations to facilitate easy and seamless dispersal of information. In the 21st century, this is made much easier with the use of the Internet. In fact, the internet seems to have a monopoly on information dispersal.
Think about the ease in which this is done, a click ensures heart felt messages get to a loved one, virtual board meetings can be held across various continents nevermind the probable spacetime restrictions.
Now juxtapose that with heavy metal gong beating in the sun across various huts?
The advent of technology has also birthed adaptability in other prominent sectors especially in areas of finance, value and money.
Take for example the atavistic trade by barter exchange or the use of processed animal parts as a means of exchange.
What's is intriguing are the endless possibilities present in the blockchain technology and the infinite relevance the blockchain innovation provides for these sectors, most especially the finance and value aspect. Just as in the case of dispersal of information, evolution is ever persistent.
Celebrated Utopias concerning the perfect market, trade or any form of value exchange type often depict scenarios as seamless as those in the 21st century Internet of Information. A market type that cuts across organizations/sectors/industries, one that is flexible with data source, distributive, democratic, disintermediary and coupled with a low entry barrier is often pictured as the ideal with an upper hand over monopolistic, centralized traditional market types.
With the advent of blockchain based travel agencies, avant-garde loyalty reward program built upon the blockchain, non-crypto enthusiasts are begin to see the endless possibilities peculiar to the blockchain and the barriers being taken down in the same vein.
However, while some sectors/industries are deluged with blockchain tech based innovations, the world is yet to see a cryptofinancial innovation scale through.
Enumerating the basic problems.
The aforementioned free market analogy depicts what's essentially a trade Utopia. However, it is applicable to the finance world too. Think about the charges that come along with transactions ran as a result of the fact that traditional finance industries subsist on centralized, intermediated systems?
How about the timing used in processing cross-continental transactions, how often do we obtain real time feedback?
The Triumvirate Bottleneck
The finance perspective is not a recent topic on the Blockchain. Accenture’s report (2016) predicts that after an early exploration, blockchains will continue to grow between 2018 and 2024, when banks begin to witness the benefits of early blockchain adopters,regulatory rules will also be gradually established, various new services and business models will begin to appear and the original business models will gradually be abandoned. Improving upon, as well as rebranding the key problems of the traditional financial system would require innovative solutions.
The Fusion Solution.
The fusion between two hydrogen atoms and an oxygen atom to form a water molecule might be one of the most those overflogged equations in basic chemistry classes. However, just like with the energy expending reactions that occur in nuclear reactions, the foundations remain the same.
FUSION’s vision is to establish
a platform-level public chain in the cryptofinancial era that as a key infrastructure for value transfer can connect all kinds of values, provide complete financial functions, communicate diverse communities and tokens, and bridge the centralized and decentralized
organizations to bring the Internet of Values as early as possible.
The Fusion vision is to enhance the public chain infrastructure in other to further facilitate the growth of the Internet of values and by that means, increase overall value and productivity.
Now what exactly does this mean? And what are the peculiarities of the Fusion approach?
Fusion aims to achieve with the concept of exchange of value, an effect as seamless as that of the 21st century Internet of information. This is a higher standard compared to the traditional finance system and would ensure the ease of protection of personal property rights with the use of a private key, resolution of disputes through consensus mechanism, lower barriers to participation and cooperation in division of labor by the aid of peer-to-peer networks.
This includes the exchange of any form of values and introduces interoperable, scalable and usable multitokens and cross-chain smart contracts on a public chain that allows for the "tokenization of off-chain assets and data, under the control of distributed nodes with real values and data".
The Fusion approach aims to subvert everything that the traditional financial system. By the very fact that it is blockchain based, transactions are reinforced with the key features that the blockchain technology provides digitization, intelligence, decentralization and inclusiveness. This precludes transaction charges and introduces the concept of automation which provides real time feedback.
The use-cases are endless especially with the Hierarchical Hybrid Consensus Mechanism peculiar to the Fusion public chain. The HHCM for short, gracefully combines the advantages of the proof of work and proof of stake consensus systems with the addition of the distributed nodes and intricate multi-layered execution system.
- Energy and computational cost efficient unlike solitary POW
- Subverts the possibility of centralization within the system.
- Prevents the possibility of a 51% attack.
The Distributed Control Rights Management(DCRM)
Consists of the Cryptoasset lock in and lock out features. The DCRM process catalyses the fusion solution to the interoperability and scalability bottlenecks. Not only does the DCRM increase the liquidity and cryptofinancial applications of existing digital assets, it also ensures security through the distributed generation and distributed storage of private keys through key sharding so that no single person would have the monopoly on an users private key until after cryptoasset lockout.
The DCRM hands over the control of digital assets to the distributed and decentralized nodes and allows these generated tokens to undergo Cryptoasset mappings to the fusion public blockchain. The Fusion Multitoken smart contracts are able to house nested contracts and are also triggerable by off chain data, time transactions and events.
What's more noteworthy is the interoperability that comes as a result of the DCRM since the tokens are mapped to a sole public chain, intractability is made fluid with exchange of tokens made possible. Also, complex relationships can be defined between these tokenized assets in terms of time and space.
The Fusion Token Incentive.
The Fusion Token incentivizes the value based ecosystem in a basic feed back process loop.
- Project creators obtain tokens as rewards.
- for users, tokens are like passports
- Tokens are to investors gate passes to the futurism the Fusion ecosystem promises.
- Developers acquire tokens to retain become shareholders and bookkeeping nodes have tokens as their hard-earned compensation for work done.
The Fusion ecosystem is a combination of user-centric solutions. With an accessible wallet enabled by Multitoken smart contracts (present with cross and off chain data and assets), the ability to programme ownership and usufruct separately (a necessity to stimulate real life financial activities), developer-friendly smart contract mechanisms that specializes in failsafe checks and optimize costs, it is obvious the Fusion ecosystem's practicability and avant-gardeism in tackling the trio blockchain based financial bottlenecks, (scalabilty, interoperability and usability), aims to achieve an utopian "Internet of Values" futuristic enough that it would subvert any innovation peculiar to the traditional financial system.
https://steemit.com/crypto/@originalworks/370-steem-60-bonuses-sponsored-writing-contest-fusion
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