Newton founder Xu Jizhe: 2018 will be the first commercialization of the blockchain| Bikuai exclusive interview
May 24th 2018, Bikuai finance report: Bikuai finance invited the Newton founder Xu Jizhe for an interview.
Jizhe Xu is the Founder and Chairman of Newton foundation. In January 2018, the Newton project was created to develop a super exchange agreement through technological innovations such as blockchain and Internet of things, and finally realize the vision of “everyone should benefit from economic growth”. He became the angel investor and co-founder of Elastos in 2017.
Mr. Xu had served for Sina.com as head of Sina mailbox technology in his earlier career. Later, he joined Okbuy.com and became the company’s CTO. After he left OKbuy, he started his own business and has engaged in 3D printing, intelligent hardware, mobile games, recruitment market and other fields.
As a pioneer for open- source software, Mr. Xu founded Zeuux community in 2005 which is the first free software community in China for popularizing the relevant technology, law and community culture, promoting the exchanges and integration of Chinese community and international community.
Record of Interview
Bikuai Reporter: When did you get into the blockchain industry? Why do you choose the blockchain industry as the starting point of this venture?
Xu jizhe: Entering the blockchain industry is more like the result of natural career accumulation for many years, rather than the result of deliberate choice. As early as 2005, I founded the free software community — Zeuux community to promote free and open source software ideas, technology, community culture and so on in China, as well as promote the exchange and integration of Chinese community and international community. The blockchain as the underlying technology of bitcoin itself also has the characteristics of open source technology. Satoshi Nakamoto’s design of bitcoin was initially released in the open source community, and then caused a greater impact. The development of the open source community Zeuux enables me to interact closely with the open source community friends from different nationalities all over the world.
The first time I get to know bitcoin was in 2011, at that time, people paid more attention to the encryptocurrency, rather than the blockchain technology itself. As the underlying technology of bitcoin, blockchain technology had attracted a lot of attention after the gradual populization of bitcoin. Since then, I have been very concerned about the development and possible application of blockchain technology, and I also had a basic mining experience during that period. Around 2011–2014, I was the CTO of OkBuy.com, 2014 I left OkBuy.com, started my business which includes 3D printing, intelligent hardware, mobile games, talents recruitment and other projects. After many years of industry experience, accumulation and observation of the industry mode, I finally decide to devote all myself in blockchain industry. By the end of 2016, I was more involved in blockchain projects. In July 2017, I invested and deeply participated in Mr. Chen Rong’s Elastos project. As one of the Angel investors, I helped Mr. Chen to explore the development direction and the underlying framework of Elastos. Early 2018, I set up the Newton project and led the team to create an agreement infrastructure for an electricity supply industry. Therefore, based on the long-term participation in the blockchain industry, in my opinion, enter the blockchain industry is more like the result of accumulation of experience from the industry for many years rather than a deliberate choice.
Bikuai reporter: Why did you choose to create the Newton project? Can you share the experience of creating the Newton project?
Xu jizhe: The answer to this question is essentially the same as the last one. First of all, we need to realize that the process of technology development is divided in two stages: the first stage is “the stage of technology exploration”, and the second stage is the stage of application, stage of combination between technology and real life. I think when technology develops to a certain extent, it must be applied to serve mankind and contribute to society. Otherwise, it’s a bubble, a perfect waste. The development of blockchain technology will also inevitably experience such a process, to a certain extent, it must be integrated with human life, applied in various industries, thus promoting social progress, and the integration of the two will also in turn promote the evolution of the underlying technology.
2018 will be the first year of commercialization of the blockchain. Before 2018, the technology was explored, and after 2018, the maturity of blockchain technology has reached a mature extent, which is mature enough to integrate with e-commerce, social intercourse, media, video, public welfare, natural disasters control industries as well as other industries so as to improve these industries. Considering that e-commerce is one of the largest industries in the world, we often say that the blockchain really changes the organization structure, the cooperation model and the incentive mechanism. New ideas and new technologies require new business models and in the business field, and it is necessary to open the industry for the benefit of the majority and the greater social value. With this concept, I developed the underlying logic and strategic plan of the Newton project around January this year. That is, the infrastructure for protocol-based economy.
Bikuai Reporter: In addition to the Newton project, or the co-founder of Elastos, what layout do you have in the future for the blockchain industry?
Xu jizhe: The Newton project is a protocol-based economy infrastructure, focusing on a decentralized business agreement, which will serve many industrial applications in the future. It can be said that as long as there is a transaction, the Newton super exchange agreement can be used, and on this basis, Newton’s vision is to make everyone benefit from the economic growth. At the same time, Newton will strongly support and develop DAPP, such as electronic business, social networking, financial tools and other applications to realize Newton’s commercial application and social value.
