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June 6th, John Zhu, MATRIX Senior Vice President, presented a featured talk “Enabler of the Blockchain Era” at the 2018 Global Blockchain Leadership Summit (GBLS) in Hangzhou. The summit brought together over 5,000 attendees from China’s blockchain community, including industry thought leaders, investors, developers, leading tech and finance media, and nearly one hundred exhibiting companies.
Zhu presented a roadmap and milestones for the MATRIX project to surpass the Ethereum network in key areas of functionality and utility. He also outlined the scope and major components of the partnership with IDA International Digital Asset Management for MATRIX’s first Belt and Road Initiative as blockchain technology partner. The project will focus on the digitization, management and exchange of tangible assets from the timber industry in Laos, providing a shared public-private platform advancing environmental protection, cross-border supply chain, regulatory oversight between China and Laos. At the closing ceremony of GBLS, the organizing committee awarded MATRIX with the “Best Technology” award at the 2018 conference.
The MATRIX technology roadmap
Zhu shared five key development directions in MATRIX’s roadmap to surpass the Ethereum network by lowering barriers to entry, substantially enhancing the system capabilities, interoperability and trust. With the aim of broadening the ecosystem of users and supporting advanced functionality, these are five broad development imperatives:
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Zero code smart contracts: The scarcity of talent capable of coding smart contracts is a major barrier to the wider adoption and application of blockchain technologies. MATRIX has made substantial improvements to Ethereum-based smart contracts by applying advanced natural language processing (NLP), AI and Deep Learning technologies to agreements drafts in everyday languages starting with English and Chinese. By focusing on a zero-coding solution to implement executable smart contracts, MATRIX is building in a defensible competitive advantage for the ecosystem.
Realizing 1 million TPS: An essential aspect of blockchain 3.0 delivering on its promise of scale and supporting social and industry applications, is transactional throughput. MATRIX has already achieved 50,000 transactions per second (TPS), overtaking the current average TPS in the global Visa network. MATRIX has a plan to widen it’s dominance in this regard with a development roadmap to realizing one million TPS. MATRIX is taking two-pronged approach, combining patented algorithmic optimization and custom-developed hardware, which is currently in the working prototype phase.
Total interoperability: One of the primary value propositions of blockchain 3.0 is creating a shared platform for different kinds of entities to transact securely in a “trustless” environment, while offering the flexibility to combine legacy systems. There are substantial implementation challenges in building a stable open-source blockchain platform that supports public/private chains, token-on-use across chains and averts hard forks. MATRIX has built a fully-functional hybrid chain, which is already in trial use with partners.
World class partners are integral to helping MATRIX build critical mass of users on the platform, as well as providing a range of real-world implementation challenges to drive robust development.
Ecosystem partnerships: MATRIX is working with the Belt and Road Initiative Center for Strategic Development and International Digital Asset Manager as technology provider on the Belt and Road Initiative. MATRIX is working with Bit.Game and the Global Blockchain Games League for tokenized online games.
Research partnerships: The collaboration with the Bayesian Computing Lab at Tsinghua University, has been key to public service applications of the MATRIX green mining mechanism, including the partnership with Beijing Cancer Research Hospital to use machine learning models to improve the speed and accuracy of cancer diagnosis. MATRIX is collaborating with Huobi Labs on capacity building in the blockchain developer and applications community. The MATRIX team also actively works with the Linux Foundation and Hyperledger as a bridge between the international community and China.
Technology partnerships: MATRIX has signed agreements with Meta alliance, Smartmesh, Beiyou and Xidian to provide ongoing custom blockchain and AI solutions for projects that are still under development and expansion.
Automated Security one of the key differentiating factors of MATRIX’s approach to blockchain is that artificial intelligence is integral to every level of system for intelligent speed, optimization and risk assessment. Artificial intelligence is deployed on an ongoing basis to detect bugs, adapt and optimize the system and conduct verification—all without the need for direct oversight, but with built in transparency for human auditing.
MATRIX’s support to developers and users
Zhu detailed the four pillars of MATRIX’s end-to-end support for ecosystem stakeholders, from developers building new capabilities, to use-value for platform users.
Easy-to-Use Facilities for Developers
- User-friendly development UI.
- Completed IoT / Security facility and solutions.
- Total blockchain solutions for enterprise customers.
- Easy-to-Develop smart contract enhanced by AI technology.
AI Technology Support
- Projects employing AI technology in their applications can get support from MATRIX project team experts.
Oversea Promotion of Projects
- Local political and legal consulting
- Oversea promotion activities, including road shows and exhibitions.
- Connecting with mainstream media overseas
MATRIX Investment Foundation
- Founded by MATRIX team
- Providing funding for outstanding projects
Zhu closed his presentation at GBLS sharing updates on two of MATRIX’s ecosystem projects with IDA (International Digital Assets) and Bitgame. MATRIX signed its partnerships with IDA on May 26th to build a digital asset management and trading platform on the MATRIX main net. The partnership with IDA will flesh out a technology solution for large-scale asset digitalization and transaction on IBR projects.
Zhu also shared details about MATRIX partnership with BIT.GAME to develop AIDEX as a next-generation decentralized exchange based on AI technology. BIT.GAME will also develop an integrated wallet with MATRIX AI Network to support decentralized data and make improvements to content.