CONSUMER BLOCKCHAIN PROFILE
Consumer Blockchain pioneered the new e-commerce model as the world's leading digital asset in the "Shared Spending Model." The original intention is to use the blockchain technology to integrate the vertical industry resources, eliminate barriers between industries due to trust and coordination obstacles, provide the industry with the most credible technology, and provide decentralized coordination mechanism for industry collaboration. Because CBC does not raise fund through ICO, the total amount of CBC tokens is constant and can not be sold, so in order to save the cost and time of previous technology research and development, CBC is based on the decentralized blockchain digital asset issued by Ethereum, Square block chain of smart contracts. As the most mature platform in the market to support smart contracts, the CBC team decided to adopt a solution based on Ethereum to build a new e-commerce platform that will allow us to focus more on business development and eco-promotion, avoiding Excessive energy invested in the early development of the underlying technology blockchain.CBC has implemented many features based on Ethereum to support the CBC's operations, including "standardized asset registrations" through smart contracts.
CBC will change the relationship between consumers and businesses, to promote consumer transactions, lock the terminal of a business model. The continuous transaction between consumers and merchants is more active and efficient on the decentralized consumer chain platform than the existing centralized platform, so that more consumers can reflect their consumption value. CBC platform under the exclusive foundation, as CBC technology research and development and product operators, CBC Foundation is one of the organizations operating CBC, CBC Foundation and other organizations have the same rights and responsibilities.
In the future, Consumer Blockchain will solve the barriers existing in the industry due to the barriers of trust and cooperation through the decentralized e-commerce platform in order to provide the industry with the most credible technologies and provide a decentralized coordination mechanism for industry collaboration. The O2O platform created through the use of smart contracts eliminates the need to host and pay for the third-party e-commerce platform with current existing merchants. An important result of such a design is that CBC will further enhance user privacy. Paying via CBC not only provides strong anonymity, but no third party collects user data. E-commerce giants such as JD and eBay rely on centralized servers to host their Web sites and process traffic. Although this method provides high efficiency when compared to traditional physical stores, it still has a considerable cost. CBC will replace these large and expensive data centers and use smart contracts to recreate the e-commerce platform infrastructure, dramatically reducing the cost of engagement for consumers and merchants.CBC will establish a fair and orderly consumer market, the rapid development of the world economy today, oversupply of products, there has been a sales problem, through the CBC lock businesses to increase consumption, to solve the problem of merchant sales, CBC's Decentralization will greatly enhance consumers' own value. CBC platform will build a new Internet-based ecosystem in which consumers and businesses based on the interests of the common ground to build a harmonious and win-win platform, through the CBC to obtain higher distribution of benefits.
CBC Applied Technology
A blockchain is essentially a distributed database of records or public ledgers that record or disclose all transactions or digital events that have been executed and shared by a party. Every transaction in the public ledger is validated by the consensus of the majority of participants in the system. Once entered, the message will never be deleted. The blockchain contains specific and verifiable records of each transaction ever made. For example, if we keep biscuits in a secluded place, it is easy for others to steal the biscuits from biscuits, and if we steal the biscuits from a jar of biscuits stored on the market and are taken by tens of thousands of people observed. In short, the blockchain is transparent.
Bitcoin is the most popular example that has an inherent connection to Blockchain technology. This is also the most controversial one, as it helps to achieve billions of dollars of global anonymous trading markets without any government control. It must therefore deal with some of the regulatory issues involving national governments and financial institutions. However, blockchain technology itself is not controversial, and for many years Has been working well and is successfully being used in financial and non-financial world applications.
The current digital economy is based on the reliance on a credible authority. All of our online transactions rely on the belief that someone told us the fact that it could be an email service provider telling us that our email has been delivered; it could be a certification body telling us that a digital certificate is trustworthy Or it could be a social network such as Facebook telling us that our posts about life events are only shared with our friends or that the bank tells us that our money has been reliably delivered to loved ones in remote countries. So a central authority (CA) is needed. In fact, we rely on third-party entities to protect the security and privacy of our digital assets and thus destabilize the digital world. In fact, these third-party resources may be hacked, manipulated or leaked. And the power of blockchain technology is that it has the potential to revolutionize the digital world by enabling distributed consensus, each of which deals with online transactions of digital assets, both past and present, at any time in the future. It validates without compromising the privacy of digital assets and the parties involved. Distributed consensus and anonymity are two important characteristics of blockchain technology.
GOVERNANCE AND MANAGEMENT
Corporate governance structure from the company system, is to constrain the general strategy of business strategy, risk management, operating principles, human resources and legal compliance.
Although blockchain technology is based on decentralization and establishing a highly efficient and collaborative community platform, it is inevitable that the corporate governance framework can learn from it so as to improve the coordination efficiency of the blockchain community and regulate the operation of the community.
The CBC Foundation is committed to promoting and promoting CBC's development and construction and transparency of governance so as to promote the safe and harmonious development of CBC's community ecology.
The CBC team established foundation entities in Malaysia and took the initiative to maintain the day-to-day operations and reporting of the entity's framework. After the Foundation is established, it selects the appropriate community participants and joins the Foundation's functional commissions to participate in the actual management and decision-making.
CBC Foundation Governance Principles
The design goals of the CBC Foundation governance structure mainly consider the sustainability of the CBC blockchain open platform, the effectiveness of strategy formulation, management effectiveness, risk management and efficient operation of the platform economy. The CBC Foundation proposes the following principles in governance structure:
The Integration of Centralized Governance and Distributed Architecture
Although there has been an argument that the blockchain is "decentralized" or "distributed" at its core In the system of autonomous communities, we think the complete decenterization may result in absolute "fairness" or more "inefficiency." Therefore, the CBC Foundation will still absorb the core idea of a centralized management in the management structure, including the highest decision-making authority of the strategy committee and the right to concentrate on major issues, so as to enhance the efficiency of operation of the entire community.
Risk-based governance principles
Risk management is set to be the number one factor when it comes to defining the strategic development and decision-making of Foundations and the CBC blockchain. As a computer technology with significant transformational significance, the development of the blockchain is still in its infancy, so it is particularly important to grasp its development trend. The principle of risk management is to ensure that when the foundation makes important decisions, it fully considers the risk factors, risks and their possible impacts and impacts, and formulates corresponding coping strategies through making decisions. As a result, the development and iteration of the CBC blockchain, and the development of the CBC Foundation, are on the right path.
Technology and business co-exist
Any one technology out of commercial applications, itsdevelopment is often difficult. If you can not prove that the lack of practical application and significance of the technology, even stagnant and even aborted.
CBC from the idea of creating the beginning, it has always uphold the principle of close integration with the business. Therefore, there is also the earliest case of commercial application. The establishment of the CBC Foundation also follows this principle. Even if the foundation is in the form of a non-profit organization, the foundation will get the maximum
Recognition of the business world, to win the benefits of commercial applications, while feeding back to foundations and communities, bathing suits to further promote the development of the Foundation and the CBC and upgrade.
CBC Foundation organizational structure
CBC Foundation organizational structure put forward a combination of professional committees and functional departments of the way, the daily work and special issues to be addressed.
CBC Foundation will set up various functional committees, including strategic decision-making committees, supervisory committees, remuneration and nominating committees and public relations committees.