SINGAPORE, Nov. 22, 2017 /PRNewswire/ -- Successful Serial Entrepreneur and digital media pioneer Dennis Jia, launches CFUN Project (www.cfunproject.com) on Qtum Blockchain and announces pre-sale. Jia previously founded Digital Media Group (DMG), the largest media system in the China subway system which covered 11 China cities. The company raised over $70 Million USD from top VCs including Oak Capital, NTT Docomo and Gobi Partners and was later successful acquired by CTS, a public company for $300 Million USD in 2008.
The CFun project pre-sale starts November 22, 2017 and continues till December 1, 2017. All participants will get great discount and many investors have participated and sent in their money for the pre-sale in order to take advantage of the discount rate before the pre-sale ends in a couple of weeks.
"CFun Project is the first of its kind. We strive to build a world class platform that offers transparency and trust to our 210,000 users," says Jia. "Leveraging CFun's exclusively patented algorithm, CFun is able to match IP buyers, and calculate each creator's contribution in a complete IP transaction with a QTUM Smart Contract. The CFun Blockchain project with QTUM blockchain is imperative to our business in protecting our content creators' IP and building an ecosystem that encourages collaboration and creativity."
"The QTUM ecosystem is growing very fast. Since we launched, the QTUM price has reach a $1B market cap. We get thousands of projects every day for QTUM blockchain. After vetting thousands of projects, we selected CFun to invest and back," says Patrick Dai, CEO and founder of Qtum. "We like the CFun business model very much. In addition, with Mr. Jia's reputation in the industry and track record, we felt very confident the project will succeed."
Launched in 2015, CFun has become the largest collaboratively generated content platform in China where platform can collaboratively work and create content together. To date, CFun has over 210,000 writers, 60,000 creator communities and over 5,000 new stories produced every month. The CFun platform will be built on the Qtum blockchain. CFUN investors include legendary angel investor Xue Manzi and Leo Wang of Pre Angel.
The CFun blockchain project will be built to establish a global co-creation ecosystem, aiming to generate individual creativity. Based on QTUM Blockchain, a global blockchain, CFun is going to develop a DApp (Decentralized Application), for recording the works of the author, while also acquiring useful user behavior data.
CFun has an exclusive patented algorithm that users accurate user behavior data to match IP with buyers, and calculate each creator's contributions in a complete IP transaction with a Smart Contract. CFun aims to make IP creation an enjoyable activity part of everyone's daily life and at the same time, facilitate real-time IP transactions globally.
For example, by integrating blockchain, multiple creators can collaboratively create a drama or story, and sell the work to some eventual IP buyer. Simultaneously, CFun will be able to timely record all creation logs with both authorship and fans activity data onto blockchains, so the data can be traced, confirmed and audited in the future.
CFun selected QTUM after researching multiple Blockchain platforms simply because of the scalability of its smart contracts and its robust environment for developers. The Qtum Foundation is a Singapore based entity that promotes adoption of the Qtum Blockchain. Project inception began in March 2016, leading up to a successful crowdsale a year later. Over 10,000 BTC and 72,000 ETH were raised in less than 5 days, making QTUM one of the largest crowdfunded projects in history, at $15.6 million dollars. Today, QTUM has a market cap of $1Billion and is traded on multiple platforms.
"QTUM allows Smart Contracts and CFun DApp to run on a familiar foundation, while offering a robust environment for our developers," says Jia. "The underlying technology uses an "Account Abstraction Layer", which acts as a bridge between the EVM and the Unspent Transaction Output model of Bitcoin Core. Building on Bitcoin's reliable and proven-to-deliver blockchain, Qtum stacks its Account Abstraction Layer, allowing the Bitcoin Core 0.13 blockchain to seamlessly interact with the Ethereum Virtual Machine (EVM). With this innovation it is now possible to execute smart contracts and run our DApp, simply and securely, in environments that were previously out of reach for other blockchain technology in the market."
CFun's pre-sale is open till Dec. 1, 2017. To learn more about the CFun or participate in the pre-sale, you can go to telegram community: https://t.me/joinchat/GBRoKgsty880c0JQZWPzXA
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