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Blockcity is a DApp (decentralized application) developed by GXS which empowers individuals to take back control of their personal data. Blockcity acknowledges the value of personal data and its mission is to assist individuals to directly control and monetize their data assets.
March 13, 2018, is a key milestone for Blockcity. The world’s first blockchain based virtual city witnessed a crucial moment: more than 1 million unique users joined this community with real ID verification. It’s inspiring that this DApp has taken only 2 months to attract so many customers that rapidly recognized Blockcity’s ground breaking functions and ease of use.
Today, large private corporations directly control and profit from all our private data. It stored in vast centralized data silos in data centers around the world. We have very little say, if any, in how the data is used or who it is sold to.
By using blockchain technology Blockcity users can consolidate their own data spread over various sites in one safe box accessible via blockchain. Every user in Blockcity generates a unique blockchain ID with tags. Personal data is locked and safely stored, in encrypted format, on a side chain using distributed ledger technology. Only users themselves have control over access and management of their own data.
By sharing their tagged data with third parties Blockcity users are able to monetize their data assets and receive free tokens as an incentive.
In the near future, Blockcity hopes to be everyone’s single digital identity (digital passport) because it is an important step in the building of highly trusted and more efficient relationships between users and businesses in the digital economy.
The GXS team is working on building a world class data ecosystem to attract developers and entrepreneurs to develop their applications based on GXChain, which in turn will strengthen the mission of Blockcity and lead to closer collaboration with the community.
Various applications are expected to be launched to provide services to the growing user base, currently at just over one million. One million may look small at this moment, however these one million users are made up of loyal blockchain enthusiasts that are growing at about 50k per week.
GXS is no mere application development company. More specifically, it is an infrastructure builder and bottom technology provider. Blockcity is just one application based on GXChain – a public blockchain developed in-house by GXS developers. In the future, GXChain is will support all kinds of applications created by its community of developers.
GXChain is a highly scalable blockchain capable of supporting 100,000 transactions per second. It uses DPoS (Delegated proof of Stake) as its consensus mechanism. DPoS is the only decentralized consensus algorithm capable of meeting the performance requirements of demanding applications on the blockchain.
Applications developed on GXChain will have direct access to the Blockcity user base. The GXChain comes with rich data support. This is a key differentiator when comparing the GXChain to other public blockchains. By using a highly scalable public block chain with readily available data, it is likely that you will see the creation of Blockcity killer applications in the near future.
These killer applications will be driven by significant data flows that can be exchanged and monetized through the GXS Data Marketplace (another B 2 B application developed and commercialized by the GXS team).
Looking at the big picture for the coming future, that is, the sheer volume of data moving quickly and easily among consumers, businesses and applications, we can visualize a vibrant and dynamic ecosystem.
GXS was established by Vincent Huang in 2016. With many years’ experience in the field of data exchange and FinTech, he was fascinated by cryptocurrency and blockchain technology at an early stage of Bitcoin inception. The GXS team has expanded to 50 full time employees, spreading from China to Japan, USA, Singapore and UK, 70% of employees having a technical background.
As the ICO bubble bursts, Vincent believes everything is going back to basics, which will vindicate Vincent’s strategy of maintaining and building a truly great project and team focused on technology research and project implementation. That’s probably why until now we have barely seen any overseas marketing regarding Blockcity even though it holds more than one million ID verified users.
Vincent Huang would like to expand the reach of GXS. The goal is to globalize the core ideas, transferring them to different markets. He hopes this will benefit the whole community.
For more information, please contact [email protected]
Official website: https://gxs.gxb.io/en/
Block Explorer: block.gxb.io/#/