Distributed Value Promise Protocol

VPP is a public listed token at FCoin

ValPromise

ValPromise is committed to build a blockchain-based, distributed value promise contract release-trading platform. Being widely applied in insurance, financial derivatives, forecasting services and other areas, ValPromise aim to solve multi-variety and cross-region risk management issues on a global scale.

Highlights

Distributed smart contract

Distributed smart contract will upgrade one-to-one paper contracts offline or centralized electronic contract signing mode in traditional derivatives market to smart contract signing mode on blockchain. With these characteristics of programmability and execution automatically, the problem of credit risk from trades will be well solved.

Unified trading medium

VPP promise token is the only trading medium supported by the platform, all legal coins and digital currency need to be converted into VPP in the secondary market first. The unified trading medium will break limitations of the type of currency and different regions with better access to global markets.

Decentralized mechanism in contract creation

Enable anyone or organizations to establish a promise template for themselves and others to use. "Massive intelligence" will be adopted in the decentralized mechanism to meet needs of all parties. There are highly personalized and efficient promise contracts in ValPromise ecosystem.

Self-certification on the data chain

Objective data indicators (like weather data) anchored in ValPromise contracts are written to the block once acquired. No one can tamper the data due to self-certification mechanism on the data chain.

Layered design

On the underlying blockchain, the contract\'s definition, trading function and vertical scene are separated by hierarchical design.

Mobile platform

The development of front-end applications suitable for Mobile ad IOT. The lower costs via blockchain will attract more participants in ValPromise.

Technical Realization

Weather Insurance : the first application in ValPromise eco

Weather Index Insurance will be the first mature application in ValPromise ecology. So far, the weather insurance named Tianqibao have made a great deal of cases successfully. Tianqibao have issued over 200,000 guarantee contracts on weather risk in the past 6 months. We hope ValPromise to solve thousands of issues in weather risk management industry with its innovation.

  • 1. The solution to the lack of mature weather insurances

    There is almost no weather insurance product with large scale and cover the whole country in China. In the future, by means of smart contracts we plan to publish standardized digital contract so that everyone have access to hedging weather risk.

  • 2. Inefficiency in insurance product design

    In China, it takes more than one month to design weather insurance products, which are designed by local meteorological departments and insurance companies mostly. ValPromise will solve this issues by smart contract. ValPromise encourages users create their own contracts.

  • 3. High cost and low efficiency in assessing the losses

    It involves staffs in judging compliance conditions, determining the amount of compensation and others in traditional insurance products. However, ValPromise will realize judgment and implementation automatically by adopting the technology of smart contract, which improve efficiency significantly.

  • 4. Difficulty in self-certification for centralized organization

    It is known that most weather data provided by the official judge are not traceable. Therefore, it is hard to realize self-certification for centralized meteorological data. ValPromise will aim to solve data traceability and trust issues by introducing blockchain and user consensus mechanism.

  • 5. Lack of liquidity in OTC derivatives

    The liquidity of derivatives in the market is limited due to restrictions on capital policies, lack of trust mechanism and inefficiency of OTC trading. In ValPromise, the unified trading medium will break limitations of the type of currency and different regions, by providing users a trading platform that flows around the globe.

  • 6. Unassessable OTC transaction risk

    It is commonly for most weather hedge products to conduct risk measurement by relying on the model of financial institutions, which causes distortions in risk management. For ValPromise, all contract transactions will be recorded by time stamp in blockchain. All transactions could be verified openly and transparently. The market consensus of risk measurement will be reached as a result. Problem of distorted risk management will be solved greatly.

ValPromise Team

Xiang Tao

Graduated from Chinese University of Hong Kong as master of Information Engineering in 2011. He has founded two big data companies, HeXun Technology Company (to provide monitoring services of global satellite base on big data) and Weather Pal (to provide fully automated weather contract pricing and distributed services). He has a wealth of experience in acquisition, management and analysis in massive data, design and implementation of technical architecture and commercializing data. He was interviewed by Focus Interview (the most authoritative program in China) and Forbes orderly because of his contributions in breaking the Western strategic data monopoly and creating new momentum for economic growth.

AnnaZhang

A consecutive entrepreneur born in the 1990s, started entrepreneurship since she was a sophomore, and was awarded the second prize in Jiangsu Province College Student Technology Entrepreneurship, the project used to be a powerful competitor of “Eleme”, realizing the expansion of retail business by 90,000 people in three institutions of higher learning within a month, and the achievement of profiting in 3 months; early participant of virtual currency, in 2017, she joined a Singaporean block chain investment team (participated in projects such as Origin Protocol, Boosto, Inkl, Gifto, Market Protocol,and Artval), participated in the consulting, investment and international roadshow plans of the projects, with rich experience in block chain market expansion and operation.

Eddie

Graduated from Dalian University of Technology. He used to work for Alibaba, Taobao, Innovation Factory pea pods. During Alibaba, he was responsible for algorithms and web development. In Taobao, he was in charge of big data, high performance services, data consistency, network QoS and so on. Prior to joining ValPromise, Eddie served as a research and development leader at Innovations Farm Pea Pod, leading the Pea Pod Data and Algorithmic Group for technical research and development. In 2015, he started research the blockchain and accumulated the experience of mainstream digital currencies such as Bitcoin and Ethereum, as well as related blockchain technology.

Wang Hui

Graduated from Beijing University of Posts and Telecommunications. He used to work for Microsoft in China, MooterMedia and other well-known technology companies successively. In Microsoft, he was responsible for the development of search engine technology and advertising algorithms. In MooterMedia, he specialized in the real-time bidding on advertising and data systems were in charge of her. Prior to joining the ValPromise team, as CTO and architect at a leading digital marketing company in China, Wang Hui was responsible for the design and implementation of 10 million daily live commercial products, accumulating richness in algorithms, big data and AI. He has rich experience in the development of blockchain technology and deep understanding of it since 2015.

Liu Shiming

Graduated from South China University of Technology, as Master of Software Engineering. PMP/PMI-ACP certificated project management professional with 6 years of financial product design and implementation experience. He also has three entrepreneurial experience. He has a deep understanding on blockchain and started trading BTC from 2013. He is IBM Hyperledger Fabric blockchain certificated developer and an Ethereum community contributor. He participated in the translation of the book "SAFe 4.0 Reference Guide: A Scaled Agile Framework for Lean Software and Systems Engineering" which is been published in 2017.

Team Background

Investors & Advisors

Zhen Jiao

Doctor of Computer Science, National Natural Science Foundation of China, has served as a researcher at the Industrial Research Institute of the Ministry of Industry and Information Technology, and a researcher at the Institute of Computing Technology of the Chinese Academy of Sciences. He has chaired and participated in the National Natural Science Foundation, a major national science and technology project, and a joint research and development project of Fortune 500 companies. Two national standards for the Internet of Things were formulated, and more than 20 academic papers were published in international top-level publications and conferences, such as the Internet of Things and no central network.

Wang Lijie

Wang Lijie is the founding partner of PreAngel Fund, executive director of China Youth Angel Association, executive committee / executive director of Haitian Association and a well-known blockchain project investor. So far, Wang has managed more than six funds valued over 300 million yuan and has invested nearly 300 technology start-ups. He usually focuses on Round A projects in areas such as new IT, financial technology and medical innovation. In 2017, he began to invest in the equity and initial investment in the global blockchain. He participated in investment bank high-chain capital and digital currency mining management companies.

Wang Gang

Wang Gang, one of the earliest investors of Didi Chuxing Technology Co, used to in charge of the development and organization of Alibaba B2B Beijing area and Alipay Merchant Division. After leaving Alibaba in 2012, he chose Didi Chuxing Technology Co as his first investment which made him make thousands of returns. Wang Gang also invested more than 40 Chinese and a dozen American entrepreneurial firms. By using his unique vision and profound business logic to assist entrepreneurs, Wang Gang has successfully invested in several venture capital projects which worth billions of dollars.

Wu Xiaoguang

Wu xiaoguang, co-founder of Tencent, was the former Senior Executive Vice President of Tencent, CEO of Tencent e-commerce holding company and founder of Weiguang Venture and Investment. He mainly engages in the early-mid-term investment of A-B rounds. The investment areas he focuses on are the Internet industry, business services, finance, consumption upgrades and e-commerce. He also led the development and product planning of QQ, the core product of Tencent, and served as the project manager of QQ R&D team, general manager of Instant Communication Products Department and general manager of Internet Business Division.

Lao WeiXin

Lao Weixin, partners of DL CAPITALS, professor of Department of Information Engineering in The Chinese University of Hong Kong, has a Bachelor of Physics, a Master of Philosophy from The Chinese University of Hong Kong and Ph.D. from Brown University. Over the past 12 years, he has taught master\'s and EMBA programs. He also served as a visiting professor at Peking University Institute of Industrial Technology, chairman of Qianhai International Union of Blockchain Ecosystem, director of the Hong Kong Association for Cooperative and ITTN member of the International Technology Transfer Collaboration Network. He has 25-year experience in high-tech industries and venture capital in China and the United States.

Raymond Yang

Raymond Yang, CEO of PruSmartHR consulting services company, used to be the head of Asia Pacific region of North American Search Group headhunter. He has more than 10 years’ experience and rich social network in the service insurance industry. In insurance product development, his team maintains regular contact with more than 60,000 actuarial practitioners. His executive hiring cases include Pacific Life Re CEO in Greater China, CEO of U.S. Reinsurance in Taiwan and Southeast Asia, PricewaterhouseCoopers China non-life actuarial consultant and CFO of ZhongHong Insurance etc.

Ivan Zhang

Obtained his Master degree from Fudan University. He has served sequentially in the largest mobile incentive advertising company in china, the largest network security company of China (Qihu 360) and APUS Group which is the best overseas expansion company. He has rich experience in commercial products, Internet advertisements, mobile tools and cooperation with Key Account.

Investment Agencies

Strategic Partners

Blockchain Partners

  • 元代码资本CRYPTOSPARTAN币用墨迹天气明势资本

Partners

  • 滴滴出行去哪儿小黄车中国平安墨迹天气保掌柜
  • 阳光保险易安保险华安保险爱旅行网途家网趣学车
  • 聚土网地合网土流网万德科技bluegogo

Roadmap

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