CryptoGrinders had the privilege of being one of the media partners covering Huobi’s Global Press Conference. Founded in 2013, it has become the leading global digital asset exchange in the short span of 5 years — however, their sights are set even higher. In this article, we cover some of the main highlights:
The press conference was held at Mandarin Orchard Hotel Singapore, and right off the bat Huobi made a great impression: guests were all greeted at the lobby and handed an impressive goody bag (the Nanopresso machine was one of the best door gifts I’ve ever received). After grabbing some refreshments, we were ushered into the main hall for the conference.
The conference was not long (about 2 hours), but each segment was jam-packed with the progress of the latest projects underway, as well as new developments that were being released.
Highlight 1: Increased Global Presence
Huobi announced that they had established yet another overseas station, located in Australia. This brings their total number of overseas stations to 10 — located all in 5 different continents around the globe. While other exchanges try to side-step regulations by shifting their base of operations, Huobi has been taking the time and effort to ensure that their operations are legal and complaint globally.
This is one HUGE differentiating factor — it shows that they are in this industry for the long-run. A company focused on short-term gains would not spend the time and money to make sure they are compliant: after all, crypto knows no borders, and it is far cheaper to move the base of operations to countries that reduced legislation. Huobi’s focus on establishing overseas stations in each continent brings them one giant step closer to becoming the first truly global digital asset platform.
Highlight 2: Academy of Blockchain Application
Huobi elaborated on their Huobi Academy of Blockchain Application, a branch of Huobi with six main departments.
- Academy Research: They focus on the underlying principle and the theoretical basis of blockchain. It also helps to connect various institutions, such as governments, universities and research facilities.
- Education: By providing content of high quality through various mediums (e.g books, videos, and social media), they bring cryptocurrency one step closer to mainstream adoption.
- Quantitative Exploration: This department focuses exploring and improving on methodologies and models that can be used for the blockchain industry.
- Technology Development: With a focus on pushing the frontier of blockchain technology, this department is constantly finding new solutions for scalability and consensus mechanism. They also file patents for new blockchain technologies.
- Data Service: Tapping into the data they possess, Huobi can provide insights on the market such as the current social media sentiment and cryptocurrency correlations.
- Advisory Service: For companies looking to get into the space, Huobi can recommend and provide solutions suited for their industry.
With this, Huobi has spread its influence into all the major hurdles that blockchain technology faces for mainstream adoption. While many blockchain projects may talk a big game about being disruptive and revolutionary, Huobi has focused on taking the steps required to make cryptocurrency accepted worldwide. Gaining mainstream adoption requires more than just a ‘new’ idea; it requires the building of strong foundations and infrastructure, something that Huobi has been focusing heavily on.
Highlight 3: The Huobi Chain Project
The final highlight was the announcement for Huobi Chain Project: Huobi’s very own blockchain.
Unlike a regular ICO, where funds are raised from the public, the Huobi Chain Project will be funded by Huobi Global: 30 million Huobi Tokens have been allocated to kickstart the project, with fresh funding being invested as it progresses.
The Huobi Chain Project aims to change corporate governance into community governance. Just like the HADAX, Huobi’s projects embody the principles behind the blockchain: a decentralised system without a central authority, where the community can decide what it wants and needs.
Huobi Chain is no different. Its development begins with the Huobi Chain Superhero Championship (HCSC), where they search for a suitable global leader to lead the development of the Huobi Chain project. The Superhero Nominees will undergo an election process, where any user with Huobi Tokens can cast a vote. The project is open-sourced, and new teams can join the competition at ANY point during the development to compete for the prize pool. With an ambitious goal of having the MainNet released in 18 months, the various teams will be working hard to get the blockchain up and running as soon as possible.
By doing so, the Huobi Chain development will be led by a leader chosen by the people, and will be created in line with the wishes of the community — this will make it a truly decentralised platform that caters to the needs of the users, rather than the whims of a central authority.
Huobi Global has made its presence known worldwide, has gained incredible adoption as a safe, user-friendly and stable exchange platform — both centralised and decentralized. With the introduction of Huobi Chain, Huobi is now far ahead of all other competitors in the race to become a globally accepted digital asset platform.
CryptoGrinders is extremely excited to see what Huobi will come up with next, and while this is not financial advice… You definitely don’t want to miss out on this project.
7 June 2018