As a completely decentralized blockchain, public chain is now widely used in all walks of life, and any application scenario with high requirements for trust, security and durability will be affected by public chain, while private chain or alliance chain is more used in scenarios with high requirements for privacy protection and internal supervision. Therefore, the NFT scenario is not completely suitable for the alliance chain scenario, and the public chain has more advantages here. With the release of favorable policies and market development in Hong Kong, the globalization of the NFT industry is a very favorable direction, and China has taken the first step, and the next step is the scene of Wanjiajingcong.
On March 18, the Hong Kong Station of Digital Collection (NFTChina) and the world-renowned public chain IRIS launched an NFT medallion on IRISnet. This is the first time that Data Collection China has been on the public chain since its establishment, and it also marks that Data Collection China will start its global "butterfly change" with the help of Hong Kong Station.
As mentioned before, Hong Kong sprinted to the global web3 center, a series of policies, very conducive to the development of Web3 business, and a number of Web3 head companies have begun to layout. This move by China is a testament to this.
Data Collection China is one of the leading digital collection platforms in China, and has been promoting the compliance operation of NFT in Chinese mainland. With the rapid rise and fall of the domestic NFT industry under the hype and the release of favorable policies in Hong Kong, entering overseas has become a better choice for China. While including a large number of players in the mainland, it also attracts players from the international market. At present, the number of registered users in Hong Kong, China has exceeded 200,000, reaching one-third of the total domestic users. Among them, there are many users from Hong Kong, Macau, Singapore, Malaysia and other Southeast Asian countries and regions. In one fell swoop, it broke through the mainland market and opened up the process of international expansion.
As we all know, the mainland has strict supervision of the digital collection industry, and China does not allow NFT to be released on public chains, and NFT releases on major platforms are on their own alliance chains or alliance chain service platforms. Digital Collection China is a digital collection e-commerce platform built by Hainan Digital Collection Culture Technology Co., Ltd., and the underlying chain uses the blockchain infrastructure of the National Information Center BSN-Wenchang chain. The establishment of the Hong Kong station means that Data Collection China will begin the pace of globalization, and cooperation with public chains generally accepted by overseas users has become an inevitable trend. Although the alliance chain is good, but the restrictions are also quite obvious, after all, it is not completely decentralized, compared with the public chain, in the degree of openness, whether it is the account, organizational structure or ecology, the public chain is better, anyone can participate in the maintenance and reading of blockchain data, and can deploy applications, is completely decentralized, not controlled by any institution. Therefore, the public chain is more open, and the data is open and transparent.
IRISHUB (aka IRISnet) is a cross-chain NFT hub tailored for the next generation of decentralized applications (dApps). It is built on the Cosmos SDK and supports NFT, computing services across chains, and interoperability between on-chain/off-chain heterogeneous systems. NAMED AFTER THE GREEK GODDESS IRIS, IRISHUB AIMS TO BE A BRIDGE BETWEEN BLOCKCHAIN AND REAL-WORLD BUSINESS SYSTEMS IN THE SAME WAY THAT IRIS CONNECTS EARTH AND HEAVEN.
As a pioneer of many innovative technologies, IRISHUB is the first network to establish IBC connection with Cosmos Hub, implement NFT technology in the Cosmos ecosystem, and manage NFT assets through cross-chain accounts. Its core development team, Bianjie, is a long-term open source contributor to Cosmos and has made important contributions in establishing cross-chain NFT protocols.
Tony, CEO of NFTChina, said that many users Chinese mainland have a deep understanding of blockchain wallets, address transfers, the scarcity of digital collections, the immutability and traceability of blockchain, etc., and it is easy to convert into public chain users under the premise of regulatory permission. NFT China with IRISnet's cross-link port can dock various public chains, with a large and rapidly expanding user, as well as a friendly regulatory environment in Hong Kong, the platform will successively support mainstream public chain NFTs in the future, creating a more open and inclusive NFT platform.
3,000 copies of the NFT medallion issued by the Hong Kong Station of the Digital Collection will be issued, and fans can receive it for free in limited quantities. From digital collectibles back to NFT, NFTChina deserves the attention and expectations of the industry what achievements it will create in Hong Kong and on the road of globalization in the future.
As a completely decentralized blockchain, public chain is now widely used in all walks of life, and any application scenario with high requirements for trust, security and durability will be affected by public chain, while private chain or alliance chain is more used in scenarios with high requirements for privacy protection and internal supervision. Therefore, the NFT scenario is not completely suitable for the alliance chain scenario, and the public chain has more advantages here. With the release of favorable policies and market development in Hong Kong, the globalization of the NFT industry is a very favorable direction, and China has taken the first step, and the next step is the scene of Wanjiajingcong.