BlockBank

A Blockchain-based Digital Asset Management System and A Value Distribution Network in The  Entertainment Industry

Introduction

BlockBank

BlockBank is a blockchain-based decentralized digital asset issuance and management system and a value distribution network in the entertainment industry.

The mission of BlockBank is becoming the bridge between corporates, users and businesses.

FUNCTION

Free Transactions

Free Transactions is one of BlockBank's core functions. Hence, a set of free transaction functions have been introduced to BlockBank: The “bandwidth”generated from the pledged tokens of an asset issuer and manager in the system is used to pay the transaction fees arising from transfers during issuance of assets.

Asset dividend payout

In addition to the general bonus point assets, asset issuers and managers also demand for issuance of digital assets featuring in dividend payout. BlockBank will be equipped with a smart contract-driven automated asset dividend function.

Digital asset alliance

Asset issuers and managers may form an asset alliance by entering into a smart contract, in which case, users can exchange assets issued by different asset issuers and managers of the alliance at a fixed exchange rate.

Encrypted digital asset transfer functionality

BlockBank has a built-in feature that encrypts the digital asset streaming platform. In this platform, users can transfer their own assets in the platform to other users. Assets issuers and managers can set whether the assets they issue can be traded on this circulation platform.

Improved digital asset payment

Different from the Bitcoin's address-based system, the Graphene toolkit uses an account-based system. Therefore, it is inappropriate to directly apply Bitcoin's HD technology to BlockBank.
Enlightened by the HD technology, an advanced Graphene toolkit-based payment notification model and an optimized transaction identification function have been put forward.

Application scenario

Bonus point system and point alliance system

A bonus point system and the point alliance system are respectively a counterfeiting and tamper-resistant distributed bonus point management system and a value circulation system based on the high-performance blockchain bottom layer that achieve seamless value circulation worldwide and prevent users' loss due to waste of resources and liquidity shortage resulted from a lack of coordination among merchants. Moreover, the bottom-layer Graphene algorithm at an inherently low running cost maximizes the benefits brought to merchants and system users.

Gift cards, vouchers, prepaid cards, tickets and other vouchers, community contribution points, virtual tools, game tools and other assets

It is easy and convenient to accomplish the digital asset (e.g. vouchers and bonus points) issuance, distribution and record keeping tasks. In the meantime, the system also supports customization of rules for digital asset issuance and bonus point management. Considering the high liquidity of these digital assets, users can implement point transfer and exchange operations in a convenient manner, offering an incomparable user experience that outperforms any other existing point systems.

Membership card, coupon, access control and other identity credentials

A blockchain-based distributed user identity management system that allows customization of rules and hierarchical user management. Based on the blockchain's full transparency and traceability, it is feasible to perform real-time and dynamic user information tracking, user behavior analysis and prompt adjustments to core user management strategies. At the same time, the blockchain technology can prevent falsification and malicious tampering of user information from the root.

Blockchain games, blockchain automatic currency exchange system (Unified Digital Asset Alliance) in the pan-entertainment industry and traditional industries

Through BlockBank's digital asset alliance agreement, the trust between merchants can be solved and a unified digital asset model can be provided to achieve interconnection and interoperability of different types of digital assets across different industries, and to achieve a unified digital asset alliance. In the end, users can hold digital assets in digital asset alliances and convert them to other types of digital assets in the alliance.

Development support

To pursue sustainable development, diverse applications and application contexts should be continuously introduced to BlockBank. To this end, BlockBank, upon release, will offer third-party developers a series of APIs for the purpose of development. Additionally, BlockBank will retain a specific amount of community promotion fund as financial support for publicity and development in order to cultivate more developers and business users who engage in application programming for BlockBank and improve the BlockBank ecosystem day by day.

ROAD MAP

  • 2019.6

    BlockBank started the project in June 2019 and has released a most basic version (main chain).

    The next phase will include the distribution of basic encrypted digital assets, management, authentication, feeles transaction, improved payment validation, and digital asset alliance capabilities.

  • 2020.6

    The Third Party Developer Kit (SDK) is expected to go online in June 2020.

  • 2021

    The asset dividend function is expected to go online in 2021.

    With more applications coming soon.