Interview with the Tomi Wen founder of DBXChain
I had the privilege to do an extensive interview with Tomi Wen — founder of DBXChain, a Blockchain project that started in 2016 with focus on Data, Real World Apps and scalability with up to 1 million TPS.
1) What’s the goal and vision of the project?
DBX started already in 2016 with the goal to build a blockchain that enables real-world apps. As you have seen, the last years all focus in the community has been on token price and less about the real adoption of the very technology that will ensure cryptos will remain. The industry has been filled with projects with no capability nor wishes to build any technology. We want to change all of this and build a blockchain which services, apps, and customers see as more valuable than traditional systems, with the aim to introduce applications and services on top of Blockchain that people actually want.
Our slogan is DBX — The Blockchain built for real-world apps — and I truly believe we can stay behind those words by already having several ESTABLISHED applications integrated into DBXChain and have completed our Virtual Machine that supports WebAssembly.
2) Tell us about DBXChain Virtual Machine using WebAssembly and what makes it different compared to other Blockchain projects?
I am happy to tell you we have already completed DBX Virtual Machine, and that is even before our ICO has finished. It took TRON almost a year after ICO to do the same. A virtual machine (VM) is the operating system (OS) of the blockchain which applications can are built on. The great thing about DBX Virtual Machine is its integration of WebAssembly. WebAssembly is a web standard developed by Google, Microsoft, Mozilla and more. By using WebAssembly, developers can use the most common programming languages on DBXChain. In comparison with Ethereum Virtual Machine (EVM) or TRON Virtual Machine (TVM) which only supports Solidity, DBXChain can integrate all sorts of applications built on various programming languages. This is a major step for real mass adoption of Blockchain.
3) What is the background and expertise of the DBXChain Team?
I am very proud to have these brilliant people working at DBX. Generally, we have a pretty diversified team composed of elites both domestically and over abroad. Myself are an old coder and have won several coding competitions in China, and started my first company within data analytics and data mining in college and had it for 10 years, generating 1 million USD a year.
DBX is a technology company so our core tech team consist of 10 people all experienced in crypto and blockchain technology. What’s more, our CTO, Ben, is a cryptologist and big data expert and once directed many data distribution projects in Tsinghua-Berkeley Shenzhen Institute.
Additionally, we have our product team including the most hardworking staff who are responsible for all our valuable Dapps and products such as DBXWallet and more.
Besides the technical part, we have a very highly experienced operation & marketing team. Our marketing head, Summer has very strong blockchain project management experience from managing Odyssey Protocol Blockchain, and very insightful about the industry trends.
4) What stage are you now in terms of the roadmap? Please tell us your progress so far.
The projects go very well. The team is working hard to live up to the roadmap and White Paper. First of all, we have already released the first test version of Mainnet which can be found on Github a well as completing the Virtual Machine mentioned previously. We have also released our native DBXWallet and in-house developed DApp Data Game. We have several DApps under development by leading companies in their own fields. For example, Ruyi Pay — a major Mobile Payment Solution in 400,000 Supermarkets in China already is integrated into DBXChain. We also have DApps from Cardeal, Prepaid Cards for Cryptocurrency; Greatest, online verification system with 260,000 companies like Binance, Airbnb and Huawei. Besides all this, we have developed the unique Consensus Mechanism DDPoS which is crucial to ensure the Blockchain remain decentralized by stopping ballot riggings. We have also developed the Data Storage Side-Chain that can reach 1,000,000 TPS.
As you can see, we have already developed crucial components of the Blockchain to be ready for integration of new DApps to enable DBXChain for large-scale applications and mass adoption.
5) Building an ecosystem is a working progress and demands constant self-improvement, please explain the role and type of governance in DBXChain.
DBXChain attempts to construct a decentralized, fair, orderly and efficient blockchain network co-governed by the community members. However, at the initial stage where the community has not fully grown, DBXChain needs high-frequency feedbacks and rectifications. Therefore, in this initial stage of development, DBXChain will take Foundation as the main development and maintenance entity to improve DBXChain’s efficient formulation and implementation of promotion strategies, enhance the blockchain community’s synergy efficiency and regulate operation activities in the community.
The foundation consists (a) a policy-making commision which decides the major strategies and rules run on the DBXchain, (b) a technology commision made of the primary tech team, major developers, tech and security experts as advisors, and strategic cooperators specialized in code auditing. © a secretariat who runs several departments dealing with the daily administrative affairs like communicating with our community, helping to find great tech experts, etc.
To ensure the effectiveness of communication, suitable community participants will be continuously elected into the Foundation Policy-making Commission to jointly take part in the actual management and policy-making. The foundation would publish the election rules in 2019 Q2 or Q4 based on the volume of our community and the number of DApps. The major concept of election in DBXChain is that those who contribute and interest compatible the most would be the most responsible and caring. The election would take these facts into consideration: contributing frequently used code, offering popular DApps or services, managing frequently transaction nodes, great performing block producing, holding a large amount of DBX, etc. The specific calculation and its parameters would be decided and published by the former policy-making commission, and the community could vote to accept or deny such rules.
The governing plan will be continuously optimized and adjusted in the following development of DBXChain. The foundation seriously pledges to work together with DBXChain community members to build a decentralized, efficient, synergetic, fair and safe blockchain data asset world.
7) Where do you think existing blockchain platforms are lacking and what can DBXChain do better?
To be honest, very few Blockchain companies have lived up to the roadmaps and White Paper they promised at their ICOs. You can see so many projects that seem to have given up or are not doing any substantial developments. Unfortunately, it has been trends of pumps and dumps which investors like you have been most affected by.
We at DBX believe we have an obligation to the community to ensure we live up to good ethics and follow the roadmap. That is why we did not start our ICO until we had the first version of Mainnet already developed. Additionally, we are focusing on taking Blockchain to the mainstream by building an infrastructure that developers easily can integrate DApps on, for example, integrating WebAssembly into our Virtual Machine, and also focusing on integrating DApps early in our lifecycle to reach sustainable business as fast as possible. DBXChain has also focused on building a blockchain enabling data exchange through our Data Storage Side-Chain with 1,000,000 TPS which is crucial for enabling large-scale applications.
I believe we are very unique regarding this, and I hope more projects can do the same. That is the only way Blockchain will ever be a competing technology.
8) We currently are in a very depressing bear market, what are your thoughts on the current market situation?
Although this market is very tough right now, it will also take away all the bad eggs and only the projects that aim for truly sustainable business will remain. That includes blockchain projects that are building useful technology and business models that make sense. It will also make people care more about the technology of the projects they invest in, hence increase the knowledge of the whole community. This is very good for DBX because as we grow with more DApps using our token, people will become more and more interested to invest in DBX.
9) Who are your competitors and what are your advantages or distinctive features?
Definitely, EOS is our biggest competitor, but also companies like Ethereum. EOS is doing amazing work to build a blockchain for applications. They are also one of the few having WebAssembly built-in. However, EOS just like Ethereum, have mostly been used to launch ICOs. DBX already now have DApps integrated that you can use today, and more DApps will be integrated. For example, Ruyi Pay, used in 400,000 Supermarkets is integrated into DBXChain. Additionally, DBXChain is developed with data exchange in mind which is crucial for real-world apps. Our Data Storage Side-Chain could reach 1,000,000 TPS and our Main Chain real 3000+ TPS.
10) With multiple projects launching daily, it becomes difficult to stand out, what are the DBXChain marketing efforts pre and post ICO?
We have been fortunate to be approached by some of the leading companies in different industries to integrate their DApps in our Blockchain which will help us greatly to build a big community using our token throughout different services and apps. Besides working on building a big community with members caring about mass adoption of Blockchain, we are collaborating with several agencies and prominent individuals in the crypto space to increase the awareness of DBX. End of the day, what matters the most is to collaborate with the right DApps to achieve a big customer base using our tokens.
Thank you for your time and answers to the questions. Any last word for global blockchain enthusiasts?
I really enjoyed this talk with you. I can inform you DBX is having ongoing ICO that will end October 31. I recommend everyone to check it out.
We also are having the first DBX Hackathon at Stanford October 28–29 so if you are a developer interesting to develop the next generation DApps, please register to the event.
Thank you, Tomi! I wish you and your team good luck in all your future endeavors.
Want to learn more about DBX? See below
See DBX ICO Site:
https://supportus.dbx.one/
Join DBX Hackathon Oct 28–29:
https://www.eventbrite.com/e/ideas-global-blockchain-data-analytics-hackathon-at-stanford-university-tickets-49578195718?aff=newsletter
DBX Website: www.dbx.one
DBX Twitter: https://twitter.com/DBXFoundation
DBX Telegram: https://t.me/DBXOfficial
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