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  • China's Biggest Blockchain Startup Will Release New Tech in 2017

    Source:https://www.coindesk.com/ Author:Pete Rizzo

    Release time:2017-10-18



    Juzix(formerly Juzhen)plans to launch its own blockchain tech for banks in 2017.


    The largest China-based blockchain startup, Shanghai-based Juzix(formerly Juzhen) raised $23m in September 2016 to target a similar demographic to Western startups Digital Asset Holdings and R3CEV.


    Since then, Juzix(formerly Juzhen) has been actively working with the ChinaLedger blockchain consortium, as well as paying attention to developments from the West, including, its representatives said, the launch of Hyperledger's Fabric and R3's Corda products.


    Ada Xiao, Juzix(formerly Juzhen)'s director of overseas marketing, told CoinDesk:"We are designing our product based on our own thorough understandings of our members' businesses and needs."


    A former associate at Fenbushi Capital, Xiao said that Juzix(formerly Juzhen)'s technology will tout "breakthroughs" in privacy, biometrics and access control. The firm, she indicated, is working with members of the ChinaLedger consortium, as well as its own customers, to refine and test the technology.


    "We will be using Juzix(formerly Juzhen)'s product as the underlying layer and intend to build all our applications on top of it, that includes what we are working on for ChinaLedger members," she said.


    Xiao estimated the company will release a beta version of the product in Q2, with the goal being to release a commercial offering by the end of 2017.


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