Asia Blockchain Review recently spoke to Liesa Huang, CEO of NULS, the first global public blockchain project integrating micro-services architecture with blockchain. NULS is dedicated to practicing the highest level of modularity and exploring new markets for the integration of micro-services. Huang talked about gaining trust from clients, developments in the blockchain community in China and Hong Kong, and her vision of how blockchain is transforming businesses in Asia and around the world.
Asia Blockchain Review: What makes NULS stand out from other firms in the same playing field?
Liesa Huang: NULS was founded in 2017. Back then, people were crazy about ICOs (initial coin offerings), but NULS focused on its mission: make blockchain easier by providing chain-building solutions and cross-chain to link different ecosystems.
We are also stronger believers in decentralized management and the open-source community. When we first designed NULS2.0, we kept the design structure open to everyone on GitHub, so the technical community could share with us their every thought and contribution. That’s the reason why Berzeck, a member of the NULS technical community, participated in the core design of NULS2.0.
In addition to the NULS technical community, there’s a council to manage the structure of the NULS community. These bodies are all separated from the NULS core team. Every NULS token holder can apply to start a vote on NULS to bring their own voice into the system.
ABR: As CEO, how do you take NULS to the next level? What experiences have proved to be the most useful in driving the company forward?
LH: NULS is an open-source project. The development of NULS is owed to every token holder. Of course, as CEO, I take more responsibility. The idea of NULS chain-building and cross-chain is fantastic. My job is to make it happen and to ensure adoption. By analyzing the needs of chain-building, we came to the conclusion that players in the crypto world — exchanges, wallets, and other financial applications — might be our first partners. So the NULS team will first focus on helping these existing players to build their own chains.
In the last decades of my working experience, the business reaction of the entire industry has been very important. Especially in the crypto world, everything changes so fast, and every day, countless developments transpire and trends change so fast. As CEO, the ability to make the right decision at the right time is everything.
ABR: Can you tell us about the launch of the NULS 2.0 Beta? What are some of its new features?
LH: The main product we will present in the NULS2.0 Beta is the NULS Chain Box. NULS Chain Box can be used to build a chain in 10 minutes, helping blockchain development teams or blockchain project operators to quickly realize their applications.
NULS Chain Box is based on NULS 2.0, which adopts a micro-service architecture. It comprises six underlying modules, namely ledger, account, transaction, block, consensus, and network. NULS Chain Box shields complex blockchain technologies, such as distributed data storage, peer-to-peer transmission, consensus mechanism, the encryption algorithm, and so on. Through NULS Chain Box, users can build an infrastructure chain in 10 minutes. It allows developers to focus on the development of business modules to assemble a brand-new application chain.
ABR: Can you tell us about the potential of blockchain in Hong Kong and China? What about Southeast Asian markets?
LH: I will say China is a country with significant blockchain adoption. We were sent a blockchain invoice in Guangdong province. We received billions in charity donations and keep the data on a blockchain. Top internet firms, like Alibaba, JD, Tencent, and Baidu, have all built Blockchain-as-a-Service (BaaS) platforms. More and more companies are trying to use blockchain technology to improve their logistical work, supply chain, and loyalty programs.
There’s has been sharp rise in the number of token holders in Southeast Asia, but the adoption of blockchain technology there is still in its infancy. I think that cryptocurrencies with decentralized financial applications will be the next focus for the entire crypto world, as well as in Southeast Asia.
ABR: The banking and financial sector have started to adopt blockchain and crypto. What other industries are ripe to implement these new technologies?
LH: Supply chain will be another sector and has already seen adoption. Blockchain technology has been used to coordinate the parties involved to augment production efficiency, management, and even date sharing.
ABR: Can you tell us about NULS’s latest developments regarding cross-chain and chain factory?
LH: Our cross-chain solution is a very complicated topic. The solution provided by the NULS team can be separated into two parts.
The first is the cross-chain of the NULS ecosystem between the chains created by NULS products. When you choose the cross-chain modular when building the chain, automatically use cross-chain for another one built the same way. The other cross-chain is NULS to BTC, ETH, and BNB. We will build a converter chain to connect different outside chains using the different protocols required for each chain. Additionally, we are speaking with the BCH and BTC community about our protocols. We want to create a constant conversation between the different communities and figure out the best approach together.
Furthermore, there’s a project named Aleph from the NULS technical community that focuses on layer-2 solutions to different dapps (decentralized applications). Currently, Aleph is connected to NULS, ETH, and BNB.
Our Chain factory has almost completed its testing phase. Before Chain factory launches, we will release Chain Box for developers to use it to build chains.
ABR: What are other projects that we can expect to see from NULS this year?
LH: NULS will complete NULS2.0, meaning that all chain-building products and cross-chain solutions will be presented within the year. It will benefit other projects building their own blockchain ecosystems, reducing their development time and costs.
It will also get easier to connect to another ecosystem. NULS provides the rest of the blockchain world with a great tool to create more innovative projects. For example, suppose someone is using NULS Chain Box to create a Bancor protocol chain to help new projects raise funds. Using the NULS cross-chain, the funds will not only be limited to NULS, but also ETH, BNB, BTC and any other coin connected with NULS.
ABR: How is blockchain transforming businesses in Asia and around the world?
LH: Blockchain, the technology underpinning cryptocurrency, is building a new, global financial world. With the initiation of Facebook’s Libra, the world is now recognizing that a new financial ecosystem is on the rise. Blockchain could reshape the payments industry, providing crypto services to the whole world and replacing legacy systems. It might un-dollarize the world, and a financial revolution might lie just ahead of our generation.
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