It’s great to meet you. Thanks for joining us. Could you tell us a little about yourself, your professional experiences and how you first found blockchain?
I’m Dejun Qian, you can call me DJ though. I graduated from Fudan University, Shanghai with a Bachelor Degree in Computer Science. I worked at IBM for over 12 years, serving as Regional Branch General Manager and Client Unit Executive before founding BitSE. In 2017, Fusion was born.
I first heard about blockchain from a work colleague. I was curious, and read the bitcoin whitepaper. I found the use of technology, especially game theory, highly creative, and became a little obsessed with the possibilities this could bring.
After leaving IBM, I founded BitSE in late 2013, originally to design ASIC chips to mine Bitcoin – it went on to incubate various blockchain related projects, including the earliest and largest mining center in China, and both QTUM and Vechain’s origins were within the BitSE portfolio too.
Given your professional experience in business and prior work in the blockchain space already, what excites you most about Fusion?
I think that blockchain will have the most profound impact on the Finance industry which is why I founded the Fusion Foundation. I really believe Fusion can change some of the foundational infrastructures of global financial economies.
Can you dumb down the value proposition Fusion has created? What does it do and how does it benefit businesses and end users?
Sure, I would like to focus on the following 3 points.
1. Fusion has developed a complete blockchain interoperability solution known as Distributed Control Rights Management (DCRM). DCRM enables tokens from otherwise disconnected blockchains to seamlessly interact.
2. Fusion developed a suite of easy-to-use features that enable financial transaction on the Blockchain. Time-lock allows the ownership of a digital asset to be expressed over time, serving as the foundation for asset rentals, licensing agreements, financial instruments and more. Quantum Swap facilitates any two digital assets to be exchanged with control in the hands of the user and no additional fees. With the Create Asset feature, user’s can create assets and extend assets with attributes (to create non-fungible tokens) without needing to program any smart contracts. This is just a few examples of what Fusion is already available on Fusion.
3. By combining the technologies mentioned in point 1 (interoperability) and point 2 (rich set of financial features), many interesting and cost-saving business solutions can be developed on top of Fusion. entertainment licenses, asset-backed bonds, house rentals, value extraction from future revenues, foreign exchange trading are just a few examples of use-cases already being explored on our platform.
What are Fusion’s short-term strategic priorities?
- Launch mainnet in Q2.
- Integrate Fusion’s interoperability solution DCRM with mainnet.
- Work with our existing and upcoming partners to help foster wider adoption of Fusion’s technology.
What about longer term priorities?
There are 3 priorities in the long term. Adoption, Adoption and Adoption with REAL business.
What are some of the biggest hurdles Fusion faces in order to achieve wider adoption?
The biggest hurdle is helping partners understand blockchain and change their perception of new technologies. We are often asked by potential partners what problem blockchain/Fusion can solve in their business. In fact, disruptive technologies usually do not solve the problems of today, they even create more problems for you! If I take a person who has never left their room onto the street, they may worry about getting hit by a car, but eventually, I am showing you a world you have never seen before. Fusion is just like email in the age of the internet, we are going to show you endless new possibilities that change and improve your business processes, not necessarily solving your existing problems.
Where do you see Fusion making the biggest impact for businesses and consumers in 5-10 years?
Fusion is building the fabric for finance. Our target is to enable people to exchange value as smoothly and seamlessly as we exchange information today over the internet. We call it the Internet of Value. Fusion is going to enable institutions and individuals to exchange value with greater speed, efficiency and with extremely low costs.
At a technological level, what are Fusion’s USPs?
- DCRM Interoperability solution: Fusion’s cutting-edge interoperability solution ensures that Fusion is the most connected ecosystem in the cryptocurrency landscape.
- Native financial features on the Fusion Blockchain: Fusion’s unique feature set enables you to extract time-value out of your digital assets and easily model time-based transaction on the blockchain. Including a rich set of APIs geared to finance. Create, swap, extract time-value and more from digital assets without the requirement to program complex smart contract.
- Highly secure Proof of Stake consensus model built from scratch.
The bear market has seen many projects re-evaluate their promises, make timelines slip, or even give up completely – how did the markets affect you?
Fusion ran a relatively lean team since the token sale in February 2018 and so the working processes were not significantly impacted by the bear market. Fusion will deliver the vast majority of tech described in the whitepaper, consistent with the expectations of our partners and community members.
Some projects adopt a ‘build it and they will come’ approach to getting users onboard, others actively seek out new prospects. What does Business Development activity look like at Fusion? Are there exciting partnerships in the pipeline?
In the long run, perhaps a build and they will come approach will work for a blockchain project like Fusion. However, in the short term we have had to engage in Business Development to build our our ecosystem and increase exposure. Thankfully our tech is very easy to ‘sell’ to interested participants and can be applied cross-industry so we have a lot of potential partners. We have already signed partnerships with more than 40 companies across different industries, you can check them out here.
You recently announced a collaboration with Fantom, they will be using your DCRM technology and making it available to users of their chain, how does this benefit Fusion holders?
Fantom will integrate DCRM into their technology stake to enable complete interoperability on their DAG-based protocol. DCRM is especially useful for Fantom who are dealing with smart city developers that require many industry participants to interact across different technical systems. Any adoption of Fusion’s technology is great for the ecosystem. Specifically, if a company like Fantom wants to use DCRM off of Fusion’s chain, they are required to obtain a ‘time-lock license’ which involves using Fusion’s utility token FSN.
Do you see further collaborations of this nature, have other projects already reached out to you to discuss using DCRM?
Yes we are receiving high volume of enquiries from different companies about using DCRM. In fact, we already have 3+ partners committed to obtaining a time-lock license.
From an engineering perspective, how are you progressing towards your goals?
From a technical perspective, we are very close to achieving much of what was originally laid out in the whitepaper. Mainnet delivery is imminent, DCRM is in the final stages of development and validation, numerous features have been released and can already be experienced and tested in the Fusion wallet (www.myfusionwallet.com) including create and enhance assets, time-lock, quantum swap, generate Short Account Number and more. Our fully-fledged PoS consensus algorithm, which was custom built from scratch, is running live on a test network.
Once your mainnet launches, moving away from the current staging network (PSN), will there be people immediately using it, or will transaction volume slowly ramp up?
One of the reason we launched the Payable Staged Network (PSN) is to have users and developers be familiar with Fusion’s technology and what it can do. It’s a little bit beyond what you could imagine. We have already been working with some our partners to build out their application on the PSN network, the development environment is much the same. With more and more partners coming to fusion, we definitely will see many more use-cases in the future and high levels of transaction volume.
Thank you again for your time, it’s been great to meet you and explore Fusion further. Is there anything you’d like to say before we wrap this up?
People always overestimate what a new disruptive technology could bring us in short term but underestimate what it could bring us in mid or long term. Internet of Value is coming because of Fusion and the only limit is your imagination.