The future of P2P digital transactions should be practical, feasible, and sustainable. 

First generation Blockchain had shown us the way 

The Blockchain idea has made possible & started the age of genuinely direct– permissionless– P2P transactions for the digital world. However, its first generation implementation – using the Blockchain itself as cryptocurrency – the Virtual-Currency model enabled by the "Mining" – the Proof-of-Work method that is required – and the consensus based Distributed Ledger model – has proven to be unpractical, unfeasible, and unsustainable for real-world scale application as a useful currency. 

Unpractical 

  • Limited supply (21 million) is not enough for everybody to use as a currency. The world population already exceed 7.6 billion since 2018. 
  • The highly volatile value is just not suitable as a currency. Pricing goods would be almost impossible. 

Unfeasible 

  • The Mining, Proof-of-Work, consensus DL are low performance and bad efficiency, unlikely to be able to support real world scenario & transaction volume. 

Unsustainable 

  • Energy consumption of the leading cryptocurrency network (the present generation virtual-currency model type of systems) was higher than the entire state of Ireland. (See this article.) 

The Future 

Next generation P2P medium of exchange should be practical, feasible, and sustainable. 

Practical 

  • No reason supply should be limited by design. 
  • A currency should not have high volatility & unstable value. 
  • The future P2P digital money should be as good as the cash today – even to match the ease of use and the high privacy. 

Feasible 

  • Performance efficient and capable to support real world scale transaction volume & traffics.

Sustainable 

  • A cellphone battery should be good for least million transactions, not the other way round.
And this is the future that we can offer.

News & announcement 

2017.4.5 We are very pleased to win the e27 sponsorship to pitch at the Seamless 2017 April 19-20. See you there! 
 

YFL Elite Limited 
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