Director of the RealChain Foundation
David is the senior software engineer and chief project in Planned Systems International, he is responsible for developing digital identification recognition software based on blockchain with many leading financial institutions. He was in charge of developing the ITPLUS system for the SEC.David graduated from University of Maryland with a master’s degree of Computer Science.
Kristi L Mercer
Kristi is an experienced jewelry appraiser for the past 10 years, providing independent jewelry appraisal services to all clients for all kinds of purpose such as insurance scheduling, probate, bankruptcy liquidation and charitable contributions etc. Kristi owns Graduate Gemologist, color Stone Graduate, Diamond Graduate Certification, Arts (A.A) of General Business Administration and Management diploma from Valencia College.
Kevin started his career in the Jewelry industry while in high school, and being the son of Geologist, he was literally grown up around gems and minerals. As an industry veteran of over 40 years, fine jewelry appraising combines his gemological knowledge and his lifelong passion for gems, with the experience he has been acquired as a store owner and manager by one of the largest Jewelry Store. Kevin hold the titles of Graduate Gemologist from the Gemological institute of America, Certified Gemologist and Registered Jeweler from the American Gem society, and Certified Member of the National Association of Jewelry Appraisers.
The latest report released by Bain & Company and Italy luxury industry association shows that the global luxury consumption scale will reach 249 billion euros in 2016, in which Chinese account for 32% and is the largest consumer group. Latest release information by Euro monitor International: Global sales of global jewelry are $316 billion for 2016. In 2016, global art auctions totaled $12.45 billion, with China holding the world's largest share for $4.8 billion. In addition, the volume of the global used high-end consumer goods is also quite huge. According to statistics, second-hand transactions will reach more than 20% of the new trade volume. At present, the opaqueness of high-end luxury goods trading is very serious and information is quite opaque. There are three pains in the whole field of circulation: high risk of transaction fraud; information opaqueness; Low efficiency and high cost of appraisal and evaluation.
High infrastructure and maintenance costs may occur in forming an identification data cloud through building a centralized server. The mobile terminals provided by RealChain will make each institution and appraiser form an independent node, thereby greatly reducing the connection cost. In addition, the involvement of TaoDangPu can also make RealChain have a natural advantage. The partner institutions will directly be removed from the RealChain network if they are caught for illegal operations or fraud. The services provided by RealChain can enable high-end commodity transactions to realize the following aspects: (1) Information exchange between appraisers and authenticators without trust; (2) Low cost of identification and appraisal; (3) Create a mobile and transparent market for high-end consumer goods; In addition to the access of database and cooperative agencies of TaoDangPu, RealChain will set up a distributed identification ecology in the world: Any RealChain foundation accreditation agency may choose to connect the database to the RealChain and obtain the user's consumption RCT token returns without worrying about data leakage and tampering. In the first stage of RealChain, RealChain will integrate the identification agencies across various luxury sectors, so that more data providers can participate in this platform.
Superiority of luxury goods for counterfeiting data
There are currently hundreds of appraisers working for TDP worldwide. Every article appraised will be kept in archives in videos, pictures and word descriptions. More than 200,000 of high-end consumer goods have been valued and recorded since the beginning. Records include data to validate against the counterfeits, circulating information of second-hand goods, and price changes over the years.
AI pattern recognition
TDP is three core business includes authenticating, appraising and analyzing the appraisal. We believe that the blockchain technology together with AI pattern recognition will greatly lower the artificial error and moral hazard, improving the transaction transparency, reduce transaction cost and enhance effectiveness.
TDP’s involvement will be the first step of RealChain expanding its business territory. Once the system is matured enough, it will forge a scale effect to bring in other platforms and systems in accordance with economic stimulating effect of tokens and its industrial ecology.
Trusted Authentication Service
RealChain achieves full de-trust through block chains: there is no need to trust other participants and there is no centralization of single point failures. The combination of identification mechanism and artificial intelligence image recognition will greatly improve the accuracy of identification. RealChain can solve the consumer's most concerned matter: the authenticity of high-end consumer goods. In the later period, the financial institutions that will be connected to RealChain, which can reduce the risk through RealChain services.
Users of high-end consumer goods are particularly interested in the pursuit of privacy and personal information security. At present, centralization requires a trusted third-party solution that can be used to collect and analyze user data without user authorization. However, the user data of RealChain is determined by the user's own open permissions.
A distributed identification ecology in the world
RealChain will set up a distributed identification ecology in the world: Any RealChain foundation accreditation agency may choose to connect the database to the RealChain and obtain the user's consumption RCT token returns without worrying about data leakage and tampering. In the first stage of RealChain, RealChain will integrate the identification agencies across various luxury sectors, so that more data providers can participate in this platform.
The TaoDangPu was established in 2013, which attracted three rounds of financing for over more than $50 million. The company is currently valued for over $300 million. Its investors include seven global well-known enterprises and large funds, such as JD Finance, 360 Finance, Blue-Run Ventures, Trust Bridge Partners and Northern Light Ventures etc. It is one of the world's largest high-end consumer goods finance and service platforms. In 2017, TaoDangPu introduced the global purchase of consumer finance products for high-end consumer goods: YOUPIN instalment. The total volume of business transactions is expected to exceed $650 million. There are currently hundreds of appraisers working for TDP worldwide. Every article appraised will be kept in archives in videos, pictures and word descriptions. More than 200,000 of high-end consumer goods have been valued and recorded since the beginning. Records include data to validate against the counterfeits, circulating information of second-hand goods, and price changes over the years.TDP has more than 5,000 cooperating partners all over the world, including but not limited to financial institutions, luxury brands, large e-commerce platforms, auction houses, and luxury MDs. TDP is planning to migrate its operations of dealing second-hand luxury, luxury hypothecated loan, luxury and consumer finance entire on RealChain, becoming the first migrants of the RealChain ecosystem. Meanwhile, TDP is bringing its archives and transaction details onto the RealChain as database.
Dear RCT investors:
Due to the market tumbling, the current value of RCT is much lower than its real value,RealChain Fund Management Team has decided to start a round of repurchasing RCT from secondary market. We will be repurchasing no less than 50 million RCT from markets such as OKEX ,COINW, and CEO within the next three month. In the spirit of honesty, the repurchase will be transparent to all investors. RCT repurchased everyday will be transferred to this address: 0xe7F1fCF7dFdfFfa6Aaf309ec3FDE7931B9cbbC88 Investment institutions in cooperation with RealChain such as GENESIS, LinkVC and Consensus Capital will also increase their holdings of RCT. We will be holding the presentation of the newly released Realchain AI-based recognizing machine on the TOKENSKY Blockchain Conference in Seoul in March 14. This is the milestone of successful landing of blockchain and indicates that the intellectual identification machine will be enjoyed by millions of consumers in near future. Realchain Foundation is determined to further down on the path of combining blockchain and artificial intelligence hardware. "No more counterfeit" will always be our mission.
In the future, idealized global luxury, jewelry and artwork trading system should be based on fair, open and transparent product information as well as highly efficient trading environment.
The combination of block’s decentralized system and AI (Artificial intelligence) image recognition technology can fully meet the above requirements.
We have developed the RC product based on the above two aspects.
The full name is RealChain.
The RealChain Foundation proposes to initially generate and issue 1 billion RCT. Further information about when and to whom RCT are proposed to be allocated can be found below. Token Contribution is proposed to launch soon after incorporation of the RealChain Foundation. For further information and updates regarding the Token Contribution, prospective participants are invited to provide their email address at http://www.rcfund.org. Further updates and announcements regarding the timing and the details of the Token Contribution will be communicated through the website.
Why RealChain Matter?
As the manufacturing skill evolving, counterfeiters managed to keep up to date. Consumers have lost billions due to lack of knowledge in luxury, jewelry and artworks. Some quality counterfeits cost 10% of the certified products, making it very difficult for consumers to distinguish.
Is RealChain an application based on blockchain?
RealChain is a new blockchain protocol which is designed specifically for high-end consumer good and financial services along it. The protocol will consist of a blockchain based “virtual machine” and defined modules of middleware software stacks, which operate outside the chain to support decentralized processes governed by smart contracts implemented on the network.
What is the main application of RealChain?
RealChain is a new blockchain protocol which will make it much easier for transactions and appraisal process. The transaction distributed recorded in each node, making each party involved has an open and fair consulting procedure. Downstream parties and second-hand dealer will be of great benefit. In addition, human resource cost, artificial error and moral hazard will be significantly reduced by AI image identification.
How does RealChain mechanism works?
RealChain will plug in TaoDangPu’s current ecosystem of pledging of high-end consumer good, second-hand transaction and consuming finance. Take the second-hand luxury transaction in 18-mode for example: TDP will act as an agent and upload commodity information onto the RealChain. Such archive will be classified by AI and stored to clouds. SHA256 will be recorded in RC pitch point and automatically pay RealChain with RC tokens. Both buyers and sellers can acquire wanted information from RC with small payment of RC tokens. RCT is designed to be consumed by users when searching for information. Info providers will acquire RCT as reward automatically. TDP’s luxury trading platform, once blend in RealChain, will generate scale effect for other appraising houses, as well as contains TDP appraisers moral hazard level. Both buyers and sellers ‘conducts will also be recorded as credit history in further trading.
How can I use RealChain in second-hand luxury trading?
The borrower may apply to other financial institutions or individuals to apply for secondhand luxuries, jewels and other pledge loans via TaoDangPu, as the intermediary and appraisal institution. In this process, the access of the RealChain system will increase efficiency and reduce costs. · TaoDangPu compares the borrower's pledge information with the same RealChain items; verifies the authenticity and liquidity of the goods based on historical transaction data and identification results on RealChain. · The borrower can give an appraisal report on the TaoDangPu based on RealChain' s historical transactions and identification records. There will not be a lot of objection to the borrower's assessment of the price and authenticity of the pledge. · Financial institutions will also go to the RealChain block chain platform to query the pawnshop to give an identification report, determine the assessment level of risk given by TaoDangPu, so as to reduce the rate of bad debts and improve the efficiency of the disposal of non-performing assets.
What’s the future plan of RealChain in market environment?
In the future, RealChain will be connected to more businesses or institutions. As the commodity information needs to be authenticated by authority, the access agencies should be approved by the RealChain foundation. Then they can have permission to upload information to RC. It is expected that the access institutions include brand manufacturers, partner manufacturers, auction houses, high-end consumer goods trading intermediaries, jewelry and art research institutions, etc., while appraisers or evaluators shall be bounded. Everyone who can upload information is also certified by the RealChain foundation. Ordinary personal or non-certified organizations can only query commodity information through RealChain' s public version of APP. If you want to upload the goods in your own hand to RealChain, you can upload information through a certified certification body. The APP of RealChain provides the address and contact mode of the nearest certification vendor organization.
Introducing RealChain’ s AI Image Recognition System?
Compared with the face recognition, RealChain, the image recognition system will be simpler and more efficient from the technical perspective. Human faces are too similar. More collection points are used to judge the authenticity, and the data points collected are generally greater than 500 points. There are too few samples of the wrong single body, and the learning space is limited due to its difficulties.
And RealChain image recognition system has a fixed and correct basis for image judgment, and there are more individual samples: a package, a piece of watch shipments is very large. The accuracy of the judgment is theoretically higher than the face recognition system.
The difficulty of RealChain, however, is to collect data samples of the correct items. The larger the sample, the higher rate of accuracy, including subtle differences in each new and old version, the usage under different circumstances.
It helps a lot to the database of TaoDangPu. Since 2013, the TaoDangPu has begun to accumulate its own database. All the items that have been identified, whether new or old, genuine or fake, will have a complete picture and video record. The total amount was over 200 thousand. These data can help RealChain' s image recognition system be fully studied and tested.
The application of artificial intelligence image recognition system can greatly lower the user's threshold and improve the user's usage frequency. RealChain can be promoted faster to the high-end consumer goods industry.
1. Will RealChain has its own token?
Yes, the RealChain will have its own token called RealChain Token (RCT) to support the smart contract and can be used in many apps. It will also be the stimulus for users in market environment.
1. What is the relationship between TaoDangPu, RC Foundation, RealChain and RCT.
TaoDangPu is an internet enterprise with valuation over 30 million dollars and 65 million dollars trading volume each year, it will be the foundation of RC Foundation building its blockchain protocol onto real-world applications. RealChain is the blockchain protocol to realize the solutions while RCT is the original token issued by it.