Monday, December 10, 2018

What is the Future of FST Network? [Future Development & Vision]



Before We Start .. What is FST Network?

FST Network is a multiple protocol adaptive, 2-tiered Modularized Network with Software Mining designed to bring Smart Scalability, Modularization and User-Friendliness to the Blockchain Ecosystem. 

FST Network is the intermediary layer that connects business applications with the underlying Blockchain protocol, allowing everyone who participates in the blockchain ecosystem enjoy the benefits of Blockchain without touching Blockchain.

Market Application of FST Network

In general, enterprises need to write a smart contract or mobilise a considerable amount of labour and costs to adopt Blockchain technology. FST Network looks to solve these issues. 

Traditional Application Development

In such an environment, FST Network provides modular APls and smart contracts that enable business owners to choose the appropriate modules for their specific needs, providing enterprises with a flexible, low-threshold and low-cost solution, and seamlessly connecting legacy applications to a new world of decentralised server-less Blockchains. 

Whether it is tokenisation, DApp development, data exchange, or even Al, loT to create supply chain, industry 4.0 or other application requirements, these can be comfortably developed through FST Network modules. We will see the actual adoption of Blockchain in the next three to five years. The global IT development expenditure is about 4 trillion US dollars. As the payment medium in the FST Network ecosystem, the demand of FST will also be riding on this mass adoption of Blockchain technology.

Module Compatibility and Cross-Chain Applications


 The number of DApps developed in April 2017 was 25, and the number of DApps developed in September 2018 was 161, an increase of more than 600%. The total number of DApps has also risen from the 25 in April 2017 to more than 2,000 now, growing more than 80 times. In the future, enterprises that launch applications through the decentralized Blockchain will grow exponentially, and a large number of developers will gather to develop DApps. Excellent DApps can attract more users to complete the entire ecosystem, which means the future market possibility is brighter. FST Network's service needs have increased, and FST is required in order to enjoy the functions brought by FST Network, so that the demand of FST will rise synchronously. 

 The issues of specialized smart contract development language and incompatibility with existing enterprise software architecture have become an obstacle to the operation of enterprises and Blockchain. In addition, the hard fork caused by the non-scalable nature of the Blockchain makes it necessary for enterprises to make adjustments to upgrade on Blockchain, and the application flexibility is insufficient. In the future, FST Network will stand on shoulders of mainstream public Blockchains, provide technical services for enterprise users, assist enterprises to connect with Blockchains, and solve application flexibility problems, helping enterprises to create their own decentralized applications.

What will be the Use Case of FST Network?


Hospitality Ticketing System (Tokeneden) 

 In response to the hotel reservation ticketing system, the Japan Hotel Industry Group adopted a Blockchain smart contract to integrate its inventory management system, reducing the risk cost by about 20% and creating and optimizing a new form of secondary ticket market that significantly enhances the liquidity. 

 The hotel will create a ticket corresponding to each room for sale. It will be recorded on the smart contract & Blockchain and will no longer accept booking refunds. The hotel reduces the cost of inventory management and can set a price that is more advantageous than its competitors. Customers can also freely trade the right to use the room in the secondary market and bid for hot spots.

 Gold Certificate Exchange (SHeX)

 Gold and precious metals certificate has reduced transaction risk and processing flow through smart contracts, and increased asset liquidity through the characteristics of the Blockchain. Thereby it reduces the control costs within existing exchanges and lowers the usage threshold to optimize the user experience. 

 The trading platform publishes digital certificates on Blockchain based on 1 gram of gold stored in each batch of vaults. The ownership exchange and historical records are protected by smart contracts. Platform users can invest without holding real gold. In addition, the peer to-peer transaction spans geographical restrictions, which greatly increases the liquidity of certificates.

 Smart City Infrastructure (EnSo) 

 The Smart City concept embodies the integration of urban systems, improving asset and resource management through loT devices to sense, monitor and collect data through secure networks. Firstly, digital identity is defined under the Blockchain protocol, and data accessibility, accountability, and authenticity can be reliably observed. 

 All data that are reflected and transmitted between devices are connected to the security infrastructure through loT technology, thereby eliminating misbehavior of unauthorized party and machine, effectively monitoring and collecting data. Finally, overall governance can be achieved by managing and organizing the network as a unified system with a clear data structure. 

 Through the multi-centered structure of Blockchain, the data and individual capital in the city are validated and exchanged effectively and quickly, and all forms of value and value flows can be clearly recorded or transmitted through reliable smart contract modules. The form of each central DPoA maintains a stable urban network. FST Network's enterprise solution builds permission Blockchain solution for projects such as smart cities or the Internet of Things through the deployment of consensus and provides a robust infrastructure reinforced with FST Network’s modules.

What will be the Strategy that will be used to be Successful?


With aims to accelerating Blockchain evolution, FST Network addresses the technical blockades and dilemmas for companies and developers by providing modules and optimization protocols and standards to drive adoption of commercial applications. 

 With the ever-increasing availability of applications, market demand will continue to catch up to the trend, and we will continue to stack and optimize modules to meet these needs, attract more participants to boost application capacity, optimize developer & user experience and attain diversification. These would again attract more newcomers to participate as end-users of service nodes or application services in the ecosystem. Through this flourishing cycle, FST Network continues to expand its ecosystem, increasing the number of modules, applications, and participants and a huge ecosystem. 

Additionally, FST Network is based on most Blockchain protocols at the level of smart contracts that can integrate seamlessly with past, present, and future Blockchain participants in multiple scenarios


What is the Future that the FST Network is Looking Forward?


Before the invention of Internet, data and information have always been the cornerstone for any infrastructural design, impacting the progression of science, society, and country level developments. 30 years ago, due to the hardware restriction and limitation, the key of data transmission was focusing on the ‘delivery of the information’. However, with the evolution of hardware’s capacity, the risk of data delivery has been minimized or eliminated. The focus is now not just on delivering but also on data management, accountability and privacy. In order to attend these goals, the Blockchain solution is an essential technology and will be the core of the new Internet. 

However, with the existing social structures, traditional servers and databases are still in use and there could still be pen and pencil records in an organisation. Hence, due to these legacy factors, it is almost unrealistic and extremely challenging for an existing firm to adopt Blockchain or distributed ledger technology solutions from scratch. In order to provide an path, FST Network has built a Blockchain solution with the concept of modularization and created a third layer to connect with existing corporate application with minimal cost, more logical and stabilized development framework.

Our first mission is to remove the problem of lacking Blockchain developer and increase the utilization of Blockchain technology. The solution is more direct and easier for corporate to adopt and understand. This will reduce the significant cost and lower the barrier for adoption. FST Network will provide an infrastructural protocol and network for clients that they will feel easy to use and easily to visualize how to adopt the technology. 

With the modularized FST Network becomes easier to use and more approachable, our clients will be able to provide better and flexible Blockchain based services. As time goes by, more business starts to adopt FST Network, e.g. Financial Services, Manufacture, Retail, Government, and etc, and adopting the blockchain. The ecosystem will become much more mature and just like the Internet today. It is everywhere! Fast-forward a few more years when Blockchain becomes prominent and mature technology, the FST Network will finally become a mature environment and more technologies can be integrated, e.g. IoT, Artificial Intelligence and Deep Learning. It is from then Blockchain will become the current world-wide web is able to change the valued individuals, societies, and smart cities.

In short, the FST Network will continue to create more module based on market needs and we have also revolutionary products to enhance users experience. With the growth of enterprise users from all over the world, the FST Network ecosystem will bring endless imagination to the world, allowing industries, enterprises and communities to have their own chains, consensus, smart contracts and tokens that meet their specific needs, and will be able to communicate with each other at any time to achieve intelligent society and life. 

My Conclusion 

There are so many things that FST Network interest me but the most word that embedded in my mind is FAST, SMART & TRUSTWORTHY. Yeah these are the fundamentals that FST has and surely it is great and a more advantage in other project.. As you can see in their Use Case you will see that there is so many things that this project can be used and in that it will increase the needs and demands of its service so I really see a great future in this project and we must participate and be a part of this booming project.. If you read their WP you will surely be interested and clarify with their visions & missions.. This is I recommended truly ! ^_^

If you want to know more about this project don't hesitate to check out the links below. Thank You:
My BTT Profile Link: https://bitcointalk.org/index.php?action=profile;u=2182909
My ETH Wallet: 0xB0c8191Bb9CBc42374B7004eEB84Ad1b83A51143
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