Ruff Chain BlockDaily AMA Event

On October 4, 2018. Ruff CMO TianWei Jing was invited to participate in an AMA （Ask Me Anything) event at BlockDaily (Korea). He had an in-depth dialogue with BlockDaily readers about potential issues and future developments of blockchain and the Internet of Things.

The following are questions and answers:

Q1. When can Ruffchain be commercialized and tell me an example of the application of the actual use case product?

From our day 1 of the company establishment, we aim for creating something commercially widely available. That being said, during the past years as our development goes on, we aimed at building things commercially viable and scalable. Currently the Ruff OS is used in numerous commercial applications, like the Schneider PLCs, production plants, factories, and many more scenarios. We have accumulated customers from more than 20 industry sectors already. One thing we are trying to do for the Ruff Chain, that shares the same goal with the Ruff OS, is something commercially widely available. like for photovoltaic farms, or for supply chain management. like for photovoltaic farms, or for supply chain management.

Q2. What is the difference between with Ruff OS and Android OS, iOS? And what is the advantage of the Ruff OS when that is applied to the IoT?

Because of the existence of an Operating System (OS), software developers or app developers and develop applications based on one platform and release it to a wide audience. All android applications can be installed on Android phones, and IOS apps on iphones; Android and IOS are for mobile phones; Ruff OS is the OS we developed for IoT. IoT applications are different than mobile applications. So, put it simply, Ruff OS is for IOT, Android and IOS are for mobile phones.

Q3. Adopting blockchain to IoT that is vulnerable to hacking or forgery seems very appropriate method. But the development process is going to make a long time, how long do you think it will take to be in use?

Commercial applications will start to appear from next year, as more and more public chains emerge, and the infrastructure becomes more ready. However, it still takes time for hardware to transit from traditional IOT devices to “smart IOT” or blockchain ready IOT. I estimate that it takes at least 3–5 years before a widely used commercial blockchain IOT applications to be out on the market.

Q4. What is the most significant advantage of IoT when it is combined with blockchain? Recently there are concerns about hacking with a various Internet of Things. If some of the devices that will be node are hacked, would they have a negative impact on the blockchain nodes?

IoT leverages the technologies of distributed systems. Blockchain enhances it better by recording multiple copies of verified transaction data on the blockchain ledger. That being said, if nodes are hacked, or malicious nodes are in existence in the blockchain, we can use the mechanism of the blockchain (aka POS or POW or other consensus algorithms) to block the hacked nodes or malicious nodes from entering the trust network. So better security is definitely one of the many benefits of blockchain in IoT. there are more advantages, like traceability, data ownership, and privacy controls.

Q5. Due to the nature of IoT, security issues arise when there are more network connections. Does the Ruffchain also try to solve security issues on the IOT network?

Our founder, Roy Li, comes from the cybersecurity background. In the cybersecurity space, there is a saying: “there is no absolute security; the best security is to raise the bar for cyberattack and increase the cost of attack.” blockchain by itself already raised the cost of attacks. We rely on the blockchain technology to solve part of the security problems. We also implemented our methods for higher security. but that’s not our main goal. Our main goal is to create a commercially viable blockchain network. By design, it should be secure enough for all IOT blockchain apps.

Q6. What is the current biggest problem or concern in the development of the Ruffchain?

We are trying to create a commercially viable and scalable network for Ruff Chain. There is balance that we need to find — more secure networks, more scalable, yet it has to have a TPS (or speed) feasible for our future customers. Designing such system itself is like an art. We are trying hard to find a delicate balance for such network and for the system.

Q7. I think the final issue in the IoT area is the ‘scalability problem’ in which many transactions can be processed immediately and the ‘standard issue’ in which different devices could be compatible？

If these two problems cannot be solved, I think the blockchain in the IoT field is difficult to make practical, so how is the Ruffchains solving them?
That’s an excellent question. Like I said before, we are trying to find the balance for the scalability and the speed issues. However, we believe that NOT all devices or transaction data should be recorded on the blockchain. You don’t need to record the data about turning your lights on or off to the blockchain. These data can be directly recorded on a centralized cloud server.

Q8. Are there any Korean companies cooperating with Ruffchain now?

Right now, no. We are open to working closely with Korean companies and communities to promote Ruff chain together. Korea is one of our most valued markets. We are happy to listen to our communities for ideas or opportunities.

Q9. Do you have the plan to list Ruff on the Korean biggest exchange (e.g. Upbit, Bithum) in this year?

We’re actively talking to the Korean exchanges, like bithumb, or upbit. Listing is a complicated process. We are still waiting for the exchanges to process our listing requests. If the Korean community can help us with the listing process, we greatly appreciate the help.

Q10. What’s your core values in life?

Personally, I’ve made many achievements in the past years. I was nominated on the Asia Forbes 30 under 30 lists, and I’m also a guest lecturer at Fudan University in Shanghai and CEIBS (China Europe International Business School). My core value in life is to create something good for this world and pass it on to the future. I hope what I’m doing now can make this world better.

About Ruff Chain
Ruff Chain is an underlying public chain that combines Internet of Things and blockchain. Ruff is committed to the deep integration of Internet of Things and blockchain, enabling the fast uplink of value data for traditional customers and solving the security, information isolation, and consistency issues affecting IoT terminal data.
Currently, “RUFF”, the token of Ruff Chain, is trading on Huobi.pro, OTCBTC, gate.io, Coinegg, DigFinex, FEX, 7EBIT, YEX, SABTC, A.mom, CEX, FCoin, and JOYSO exchanges. More than 30,000 community members participate in Chinese, English, Korean, and other official channels, and there are over 15,000 developers working on the Ruff ecosystem today.