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FormulA - The Ultimate Solution for Real Assets on the Blockchain

On March 17, 2018, in The House of Roosevelt at Bund 27 in Shanghai, a heated discussion was being held on the value of registration and storage based on the blockchain. This historic relic, first built in 1920 and later repaired by the Roosevelt family, is not only an architectural and historical landmark of Shanghai because of its spectacular place on the city's skyline, but is now also the birthplace of a blockchain project called FormulA that aims to provide a blockchain-based index for each individual's credit and physical assets. It has been said that this newborn asset digitization concept based on blockchain seems to have the potential to revolutionize the whole value circulation and create a risk-free trading environment.

Casper, the Russian blockchain data storage team that successfully organized the 2016 EEG Hackathon and has been a constant presence at the various international awards in the blockchain industry in recent years, is one of the focuses at this discussion. "We have the same sensitivity to the industry as Casper. FormulA focuses on the asset chain concept in the same way that Casper concentrated on the registration of values, only one is virtual data, and the other is datamation on real assets," Stephen Song, FormulA Foundation's Asia Pacific partner says. As the world's first IoA (Internet of Asset) based on real asset value, he explains later, "the capitalized A in the FormulA project refers to the source of its core data - Asset, and the assets digitization realized by FormulA is also the maximized value realization of the asset."

A senior partner of Newhouse Capital, a leading secondary fund in China, Stephen also used to work as the auditor of the Royal Dutch Philps Global Headquarters. His working experience and his entrepreneurial project can be traced to the same origin. Being a part of the equity investment industry in recent years has given him a great perception of the relationship between assets and data as well as its importance. He emphasizes that in the past it was all about real assets accounting, while nowadays, things are turning towards the datamation of real assets. In essence, they are both the processes of registration and confirmation of real assets and data.

Facing the raging "blockchain wave" and all kinds of high concept projects, FormulA is more focused on the actual industry pain point of facilitating the circulation of assets. An equity transfer and agreement change can easily result in a three-month process and a large number of people needing to sign the rights change confirmation. This great inconvenience is a ripe opportunity for the use of a large amount of blockchain to be filled in for property registration and asset exchange. In other words, if the blockchain, such as smart contract and distributed accounts, is introduced to the fields of asset exchange, anti-counterfeit tracing and registration, among other areas, it will maximize the security and privacy of information, accelerate the efficiency of information transmission, increase the information transparency in the process of transmission, and ultimately improve the efficiency of the industry and even completely change the present industry pattern.

Imagining that there is a trust value chain that can't be tampered with, then in the future, rights registration and assets exchange that would require a few months in the past could be dealt with in a few minutes. It would improve the liquidity and security of assets, and bring more benefits to asset holders at the same time, achieving a more efficient social resource allocation. Perhaps the emergence of FormulA will have such an epoch-defining significance.

About FormulA
FormulA is a blockchain project aiming to build a reliable Internet of Asset (IoA) which can be deployed to register and exchange the value of real assets. Based on the "Decentralized Asset Protocol", FormulA provides a universal solution for asset digitalization and reforms the status quo of the entire asset market. We can also empower financial institutions to increase their efficiency while decreasing potential cost and risk.


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Jeudi 12 Avril 2018