On May 20th, we held an AMA in the Binance English Group (https://t.me/binanceexchange). We’d like to thank you for attending our conversation with the Binance community. If you missed the AMA, below, we have summarized our conversation:
I’m Allen Lee. I have worked in a major communications company. I was the world’s earliest 3G/4G communications engineer. Later, after leaving the communications company, I started my business where I developed the world’s first 4G virtual mobile communication authentication SIM, and served tens of millions of users worldwide.
In 2017, I started to lead the team to develop a communication service billing system based on blockchain. It is QLCchain. QLC chain itself has experienced 4 years of development from 2017 to the present, and it has become the world’s number one platform combining communication infrastructure and blockchain.
Currently, QLC chain team have 25 engineers including Asia, Europe and US. and majority of us have both rich experience of network and blockchain.
Q1: What is the background of QLC Chain’s deployment in the field of distributed network bandwidth? Compared with the distributed storage combination of the blockchain, how does the blockchain land in the distributed network bandwidth?
Allen: The combination of distributed storage and blockchain represented by Filecoin/Arwave/Chia/Swarm has always been a hot spot related to the implementation of blockchain and practical applications. The recent concept of green blockchain has also attracted more attention from the market. In contrast, blockchain has also developed rapidly in terms of the combination of distributed network bandwidth resources.
Mainly in several aspects:
1. Distributed content distribution. Such as BTT/theta
2. Distributed bandwidth resource exchange, such as QLC Chain/ Skycoin
3. Distributed IoT data security, such as QLC Chain/IOTA/IoTex
4. Distributed network resolution, such as QLC DNS, ENS
At the same time, the combination of distributed networks and blockchain is an indispensable part of the establishment of storage blockchain. The distributed network blockchain application can be independent of storage and become the best way to combine digital content and value transmission. In other words, distributed networks based on the blockchain can also serve centralized storage, such as cloud storage.
We can see that the distributed network based on blockchain is already the second-largest landing scenario for blockchain outside of the financial field. The network itself is also the lower-level infrastructure of the blockchain. In these aspects, QLC Chain is the world’s first team with in-depth experience and landing in the communication infrastructure industry and the blockchain industry.
The communication network has been distributed since its first day of birth. Whether it is from communication routing, communication networking, and network resource management. This is also the earliest foundation of the blockchain P2P method. However, as the communication network becomes a key infrastructure and the Internet is integrated with more cultural and social activities. It has become a key link in social governance, and it has gradually become more and more centralized.
This is mainly reflected in the management of network resources. Over-centralized network resource management will cause the network itself to conflict with the value network of the blockchain. Thus, in the long run, it will damage the foundation of the blockchain. For example, if some IP address routing is controllable, then Bitcoin will be directionally restricted. Because the real estate IP protocol that spreads Bitcoin is centrally controlled.
What the QLC chain has to do, is to introduce blockchain into the increasingly centralized management network infrastructure to form a distributed governance network. Including billing, authentication, and addressing. At the same time, it can support the integration of value networks and IP networks in the future while maintaining independence and sufficient security. That is why the QLC chain has been deployed in the communication network industry.
Q2: Can you talk a bit about QLC chain background?
Allen: The QLC project is initiated 4 years ago. QLC Chain was formerly called Qlink and later changed its name to QLC Chain, which is the abbreviation of quick link chain. QLC chain was initiated in 2017 and first ran on NEO, and later formed its own public chain QLC Chain. QLC chain now also supports cross-chain with Ethereum, and cross-chains with Polkadot, AR, and Filecoin are also under development. At present, the team of QLC chain is also the world’s leading team with communication background and blockchain development experience.
The team is located in Hong Kong, Mainland China, Europe, and Silicon Valley.
QLC Chain has been committed to combining blockchain with distributed network bandwidth resources. As the world’s first blockchain-based network as a service, the QLC Chain is the world’s first blockchain network billing platform supported by operator standards organizations. At the same time, it is also the global distributed communication resource exchange platform supported by most operators in the world.
QLC chain is the first blockchain project which is adopted by MEF forum and other telecom standard organization.
QLC chain contributed the W144 and W118 standard in MEF forum,and MEF forum have more than 120 operators as their members. Before end of 2021, many operators will adopt W114 and W118 in the their network billing and security platform.
Q3: How did QLC Chain become the world’s first distributed network bandwidth blockchain platform supported by the standardization organization of communication network operators?
Allen: Yes, as we know IP network is the infrastructure . QLC chain become network infrastructure is mainly from the following aspects
1. Use the QLC-based distributed blockchain charging method to connect to the global operator network to establish a global unified bandwidth resource allocation and exchange platform. Let the value network provide a trust layer for the IP network.
2. Use QLC-based distributed SASE to provide terminal ID security control for global network access, especially the security management of electric vehicles connected to the network. Ensure that the data assets on the IP network can be confirmed and protected by the blockchain.
3.Based on QLC’s distributed DID analysis protocol, a global unified label switching network is established. Replace the currently operating MPLS/SD-WAN solution, and support all cloud seamless networking. Form the integration of IP network and value network.
At present, the QLC chain billing scheme has been formed into the W114 standard of the MEF standard organization. MEF has more than 120 operator members around the world, including PCCW, HGC, COLT, CMC network, China Telecom, AT&T, and many other operators that began to implement the W114 standard.
In addition, the security network standard W118 that QLC chain is also advancing formally formed a working group to start the standardization process.
QLC Chain is the world’s first distributed network bandwidth blockchain platform supported by the standardization organization of communication network operators and has become a network bandwidth interconnection infrastructure.
Q4: Can you introduce the current ecological layout of the QLC Chain?
Allen: The ecological layout of the QLC chain mainly includes several aspects: The first is the combination of IP network and value network(block chain). Form the trust layer of the IP network. At this point, the primary method of the QLC chain is to promote the global network interconnection standard MEF organization to form the W114 standard and the W188 standard and then introduce the support of MEF global operator members. MEF has more than 120 operator members worldwide.
The second layout is the landing of the DEFI business on the QLC chain. Including swap, lending, and insurance. Through defi business, it can provide financial services for global operator networks, narrow down the global network digital divide, and at the same time form a financing tool for digital content distribution. The third layout is that the QLC chain will make its communication network, integrating the value network and the IP network.
The network infrastructure belongs all the network users not just belong to the gigantic operators. That is QLC chain mission.
Q5: In the field of IoT blockchain, there are many competitors, right? What are the characteristics and advantages of QLC compared with them?
Allen: Yes, at present, the representative of IOTA in the field of Internet of Things, the comparison between QLC chain and IOTA has three main points:
The first point is: IOTA is not combined with the IP communication network protocol. IOTA is just a protocol on the IP communication network. At the same time, IOTA do not develop and promote IP communication network standards. For example, in the global MEF standards organization, IOTA has almost no influence. In the US MOBI standards organization, IOTA is just a silent member.
The second point is: IOTA itself uses a data traceability platform as the largest landing scene. But QLC chain supports more on lower-level communication IP protocols. For example, the introduction of ledger tailoring technology on QLC chain, while the underlying ledger technology of QLC chain is an account-chain model, and is no longer a pure DAG structure like IOTA. This advantage makes the QLC chain more capable of combining with the IP protocol.
The third point is: The essence of the Internet of Things is a massive terminal and device access the IP network, and the address of the terminal is currently IP-based. That means that the Internet of Things is only a subset of the QLC chain’s network protocol. QLC chain provides trust support and resource exchange services for all IP network interconnections.
So we can see QLC chain network is more fundamental than IoT blockchain project.
Q6: DeFi is very hot at present. I would like to ask your opinion on DeFi application scenarios, and can or how QLC Chain can provide support for it?
Allen: Yes, In addition, the QLC chain will also launch communication resource loan mortgage and insurance on the QLC chain. For example, the protocol corresponding to the communication resource will form an NFT. And, we can use this NFT to mortgage for lending, and the borrowed funds are re-paid during the payment process of the communication service through the QLC chain billing system.
At the same time, the QLC chain will create a network data security risk for the IP address routing the communication network terminal.
In this way, the DeFi business combines with network security insurance. For example, We can form an insurance pool by attacking a specific network IP address. If an attack causes losses, the agreed compensation will be made through the QLC chain community voting.
These are the combination of network and Defi worth looking forward to.
Q1: How was the idea to create the project $QLC born?
Allen: It is formed in the telecom experience before. When I worked in the telecom company, I know the network is the very fundamental infrastructure, however it is becoming more and more centralized and complicated, not secure enough. So I choose the blockchain to do some improvement for the network bandwidth resource allocation and management.
Q2:How can the QLC chain help carriers build a SWift-like network based on service provider direct payments?
Allen: Good question, It is very similar to the swift network in the telecom industry among different telecos worldwide. What QLC doing is building the billing platform based on QLC chain, it is decentralized totally, and second step is the build the security ID for all the network access, based on blockchain as well. The third step is the address resolution on blockchain. at this step, the network bandwidth resource exchange and settlement can be completed by QLC chain. That is the swift-like network in the telecom industy.
Q3: How fast is quick link chain? Has it got any relation to chainlink
Allen: QLC chain have a collaboration with Chainlink before. QLC chain support many operators exchange their bandwidth resource directly, after that, the bandwidth on QLC chain will can be connected from peer to peer, it will make the network more faster than the normal bandwidth router. that is why QLC chain call quick link chain. Based on this nearly real time network, the service such as voice and livestreaming will be better experience.
Q4: NFT is getting more popular now a days. It looks NFT has bright future. So do you guies have any plan to include NFT to your project?
Allen: Yes, NFT on QLC chain will be supported in Q3, it is very interesting . You can find the NFT adoption in the network service. for example, all the bandwidth buy/sell contract will be a NFT on QLC chain, and any operators can deposit the NFT for the network bandwidth fundrasing. On the other hands, the content provider can use the NFT for the bandwidth resource schedule. for example, the hollywood movie can issue the NFT with special IPv6 address as the certification in the real world.
Q5: Is QLC chain on web 3.0 plartfom ??
What is the core of QLC Chain and why it’s different needs MEF forum ??
What is it’s vision on this MEF plartfom this year ??
Allen: Yes, QLC chain is more fundamental than web 3.0 platform. QLC chain can be the trust network layer for web 3.0 platform. for example, if we have the decentralized social platform with web 3.0, the IP address can be allocated to individual users as the DID connecting blockchain metaverse and real world. At the same time ,the DID on blockchain can be integrated into IP address, then the DID can be the only identity for the data asset, privacy and security key.
Q6: You can explain your global expansion plan:Is the only market you’re concentrating on all the time? Do you focus on building or developing and acquiring customers and users, or partnership? QLC CHAINT
Allen: Of course, if you have the good deal to introduce us, let me know. my email address is firstname.lastname@example.org. We are glad to acquire the small operators and small CDN service providers. And build their service on QLC chain platform .
Q7: Buy back and burn. It looks to be abandoned. Please confirm and if it’s still in plan how much tokens are staged to burn?
Allen: It is coming soon. no worries, QLC and Qgas buyback and burn are not abandoned.
Q8: I would like to know what QLC team’s plans are for releasing a product. As I can see QLC team is only realizing some versions of MVP, but not something that utilizes the QLC token on the enterprise level. You also mentioned QLC will expand into the European market this year but we didn’t see anything regarding European expansion. Have you had pullbacks in this area?
Allen: It is not MVP now, it is the production ready platform with operators. In EU, we are collaborating with Colt in UK and DT in germany.
Q9: Why do we see many hints in articles and Github on partners you work with but no official announcement? Are telecom companies scared to announce they work together with blockchain projects like QLC Chain or is there another good reason that the QLC team can’t announce this?
Allen: No, it is because the NDA and the slow movement from operators side.
Q10: How does QLC Chain scale? Are there potential limits? What is the biggest business scaling problem you believe QLC Chain could face in the future and how will you try to solve it?
Allen: It is a good question. QLC chain scale from the standard organization. In telecom industry, the network inter-connection with standard, otherwise, the network will be local network. That is why QLC chain spend so much resource on MEF/MOBI and GSMA furturmore. QLC chain will be the leadership of blockchain based network billing and security standard, then all the operators will adopt and use the standard in real network. So far the W114 standard is adopted by many operators alreay.
That concludes our AMA. Thank you for joining us!
QLC Chain (previously Qlink) is the next generation public Blockchain for decentralized Network-as-a-Service(NaaS). We estimate that, in the next five to ten years, about 80% of network services will move into Blockchain and QLC Chain can provide the operating system. Individuals, small and medium enterprises have the opportunity to provide peer-to-peer network services via QLC Chain to global customers and customers, people will enjoy on-demand and secure network services.
• Website — https://qlcchain.org/
• Twitter — https://twitter.com/QLCchain
• Medium: https://medium.com/qlc-chain
• Reddit — https://www.reddit.com/r/QLCChain
• Github — https://github.com/qlcchain/
• Telegram Announcement Channel — @officialqlcchainann