HSINCHU, Sept. 20, 2019 /PRNewswire/ -- Flowchain Tokenomics Research Center opened in National Tsing Hua University located in Hsinchu City, Taiwan, on September 6, 2019. With the cooperation of Professor Chuan-Hsiang Han of the Department of Quantitative Finance at National Tsing Hua University, Flowchain aims to build a Tokenomics Research Center to conduct macro and micro models in the tokenized world using evidence-based research.
Tokenomics is a term used to describe the study of the design of a cryptocurrency and its related virtual assets to build the ecosystem around that specific token. In order to ensure the reliability of participants' behaviors, it combines elements of the study of economic incentives, game theory, cryptography, behavioral psychology, and computer science.
To conduct a reliable and valid model for tokenomics, Flowchain Tokenomics Research Center first used FlowchainCoin (FLC) as an indicator. Jollen Chen, Flowchain's founder and CEO, initially found it challenging to explain the trading patterns of virtual assets by using the economic models of traditional financial assets. Law enforcement agencies are also unable to analyze and respond to crimes related to virtual assets without specific standards. Consequently, the security and stability of blockchain economics development cannot be guaranteed.
Flowchain, therefore, attempts to use algorithms to build a tokenomics model of trading strategies to prevent scams by tapping into the combination of the team's experiences in issuing FLC and Professor Han's background in economics. "Blockchain technology is primarily known from cryptocurrency applications, including token issuing. The goal is that through the Flowchain Tokenomics Research Center, we can create a better tokenomics ecology for Flowchain using rigorous academic research methodologies. Also, with the hope of a successful transformation and development for Taiwan's tokenomics industries, I anticipate sharing our experiences and future results with them." said Jollen.
Flowchain is also seeking additional cooperation opportunities with professionals and academics at research universities in other geographic locations overseas to build a comprehensive model.
Flowchain is an IoT blockchain that leverages distributed ledger technology (DLT) for peer-to-peer IoT networks and real-time data transactions. Flowchain's PPKI technology provides random and unique public keys in real-time for tokenized hardware that enables the fast and safe transfer of transacted digital assets without the need for any intermediaries. More, the Virtual Blocks technology proposed by Flowchain ensures chunked data (data streams) transactions in a near-instant manner and can be integrated with IPFS, an emerging distributed storage blockchain. It enables Flowchain to work as an off-chain mechanism to ensure the security and validity of data through tokenized IoT hardware.