The Full Positive Force

Mr. Patrick Dai is highly optimistic about the positive changes that blockchain technology can bring to society, and what his company Qtum can contribute to the process

- Marc Almagro

In February this year, Qtum announced partnerships with big players Baofeng and Qihu 360, two of China’s leading software companies. Qtum felt it is moving towards a massive commercial adoption, which a partnership with such established companies could facilitate better. CEO and founder Patrick Dai was also convinced block chain was shifting from a very early stage, when people were only talking about the concept, to one where more and more people are actually trying to build the application. “The timing is good to move from ‘proof of concept’ stage to maximization of useful applications,” Mr. Dai observes.

“Baofeng will help Qtum to deploy 50,000 full nodes in one or two years; they will start deploying all the Qtum full nodes in China,” he reveals. “If the Qtum platform can have 50,000 full nodes, it will become the most decentralized platform, vis-a-vis Bitcoin that has about 10,000 full nodes, and Ethereum that has 20,000 full nodes. We are also working with Baofeng on copyright protection, and creating content distribution,” he explains.  

Qtum’s other partnership is with Qihu 360, the largest listed software company in China, and one of the best Internet security companies in the world. Qihu 360 has about 900 million users worldwide. “We have signed a MOU with them to build a block chain research lab, create more diversified applications based on Qtum technology, and push the X86 Virtual Machine to be the industrial benchmark,” Mr. Dai shares. “We are also working together on distributed storage and decentralized computing and to maximize the adoption of the technology and create more useful applications that can improve society at large.”

Higher Diversification