What is your field of expertise?
What is your goal with Elastos by the end of the council’s next term?
Our goal is to improve the financial status of CRC assets, stabilize ELA price and perfect CRC functional practices, thereby promoting ecological development and ensuring the implementation of proposals.
What is the main issue with ELA, looking at its market performance (dropping out of top 100, currently sitting 500+ in terms of MC)?
Ecological development needs to be promoted by funds and professionals. CRC only regards ELA as a single asset payment mode. When CRC pays ELA to an ecological project party, the project party usually needs to sell ELA in exchange for funds to support the development of the project, resulting in a huge selling pressure on the price of ELA. When the ELA price is in decline, the value of ELA assets held by CRC has seriously shrunk, so that there is a lack of funds to promote ecological development and investment.
CRC should support ecological development by means of incubation and investment in exchange for equity tokens and cooperation conditions of a project party, rather than direct payment. Direct payment can cause the serious loss and unsustainability of CRC assets, and eventually lead to the drying up of CRC funds and letting down the community.
CRC lacks professional talents, leaders and functional departments to ensure the development of ecology and community. The community is more like a pile of loose sand without effective organization and management. CR Council members lack enthusiasm to serve the community, and some of the CR Council members do not even vote.
What should be Elastos’ killer dApp in your opinion？
Recently, I read the latest paper of Vitalik et al.: Decentralized Society: Finding Web3’s Soul. In my opinion, with the development and implementation of DeFi projects such as Glide, FilDA and CreDA on Elastos, and the planning of a credit stablecoin, the credit based on DID is Elastos’ killer dApp with Web3 ecology.
How are you going to contribute to the CR Council if you get elected？
The community has been promoting the establishment of credit stablecoin project in the Elastos side chain (ESC) in combination with the credit mechanism CreDA.
Full-time financial staff and CFO shall be recommended, invited and hired by the community to formulate plans to balance CRC assets through diversified DeFi infrastructure such as Glide, FilDA and CreDA, so as to solve the problem of serious asset shrinkage caused by declining ELA price and to stabilize ELA price. CRC financial practices shall be established to guarantee the preservation and appreciation of CRC assets and invest in ecological projects. With the development of Elastos Web3 ecology and the expansion of credit stablecoin, it may be the precursor of an Elastos central bank.
Influential professional managers and CEO shall be recommended, invited and hired by the community to plan and develop marketing strategies and goals, actively carry out external cooperation, and establish relevant functional institutions to ensure the implementation of strategies
CRC shall establish an incentive, assessment, appointment, removal supervision and management mechanism for the employed personnel and functional institutions.
If you are running for your first time, please introduce yourself to the community. Tell us a little about your background, prior experience, and personal vision for Elastos and Cyber Republic. Or, if you are a former council member, please share your contribution to the CRC that you have made.
I used to be a network engineer and came into contact with Bitcoin at the end of 2013. After that, I engaged in Bitcoin mining and participated in AntShares (now NEO), an early Chinese blockchain project. I invested in Elastos in 2018 and bought more than 10,000 ELA from the stock exchange at 50 BTC. During the bear market in 2019, I bought some more ELA that I still hold. Over the years, I have spent a lot of time studying, observing and thinking about the development of Elastos. The following are the reasons why I firmly invest in Elastos. I have spent a lot of time learning to observe and think about the development of Elastos. The following are the reasons why I am determined to invest in Elastos.
- The blockchain architecture of Elastos has a pragmatic and advanced design. The architecture of the main side chain and the three-layer consensus mechanism of bitcoin joint mining + DPoS + CRC have simple scalability on the premise of ensuring security decentralization. Elastos did not reinvent wheels in the design of blockchain, but cleverly integrated PoW and DPoS, two mainstream mature consensus mechanisms, and reused the powerful computing power network of Bitcoin without increasing energy consumption. The smart contract ecosystem of Ethereum was reused for side chains. While BTC is known for its alleged waste of energy, DPoS improves transaction performance at the expense of decentralization. The blockchain architecture of Elastos has laid a solid foundation for future ecological development.
- For Web3 strategy, Elastos set up the development direction of Web3 in 2019. Recently, Web3 has become a more and more hot topic, showing that Elastos has a profound and advanced insight into the development of blockchain.
- As early as 2019, Elastos has established CRC, which is actually a practice of decentralized autonomous organization (DAO).
- Elastos has an integral Web3 technology stack.
- Elastos has complete infrastructure ecology of DeFi such as Glide, FilDA and CreDA.
Would you say the design of suggestions and proposals, and the CRC in general, has been effective? What could be improved?
The design of the proposal system does work, but there is a lack of budget tracking and status tracking information update for approved proposals. Moreover, the progress of proposal projects lacks transparency. For example, a project chat working group can be established and made public to the community. In addition, it is necessary to improve the participation of community personnel.
Who else would you endorse for being on the Council with you?
Lawyer Zhang Feng, an incumbent CR Council member, and Tyro, an active member of the Chinese region, who has been promoting the community.
Is there anything else you would like to add?
Elastos is an early project based on the blockchain Web3.0. I believe that being driven by the growing decentralized autonomous organization CRC, will help it will make another splendid achievement.