Binance AMA Series Vietnamese Group-NEWTON Founder Xu Jizhe

newtonproject on 2020.01.10

1. Can you tell us the motivation and benefits for investors to hold the Newton for long term?

Xu: Basicly, Newton would be the infrastructure for the community economy and social governance, with the totally new economic model.

The current economic model is most people contribute but only a few people benefit. Newton will create a new economic model to ensure everyone contributes and everyone benefits.

Current business economic model is unfair to most people. Traditional company tends to pursue profit, monopoly, and domination of the market. This traditional model creates an adversarial relationship between the enterprises, employees, and the consumers. This model continues from the second industrial revolution till now. In fact, from the perspective of an incentive theory, a better model is everyone contributes and everyone benefits. Based on these thoughts, Newton project aims to create a community economy managed by a non-profit foundation through blockchain technologies, and to make a new economic model benefiting everyone who has contributed to the economic growth.

Newton team has dedicated to build this infrastructure for 2 years. With Newton NewOrg, we can easily to build open vitality organization. We believe blockchain will change the economy, society organization, it also will bring great entrepreneurial opportunities.

So for Newton, it’s not about me, it’s about you, the future of everyone.

In this case, NEW is the fundermental tools in the Newton Ecosystem, so will show the value of Newton by NEW.

2. Why do you decide to build your own blockchain instead of using current vailable blockchain on the market to save time for other purposes?

Xu: Newton aims to build infrastructure for community economy and social governance, it has full stack technology stack, NewChain is one of the 5 key basic technology, TPS is over 5000. Current mainchains can’t meet requirement of large scale of application in our design.

So we have to build our owns.

And Just blockchain is not enough, so you shouldn’t think Newton is just another blockchain project.

We have NewIoT technology also for example.

3. I think this vote is likely to win NEWTON very high, but many investors do not know the strength as well as the main reasons to vote for you instead of voting for Drep. Can you talk about them?

Xu: Our mainnet has been running for more than 1 year. We have the real and reliable technology, for example, NewNET cooperate with Sina (NASDAQ: SINA).

For NEW, it’s a mainnet coin, just like BTC, ETH or EOS.

Next, NEW got listed on Huobi in April of 2019. And we have the full Dapp infrastructures for the Newton ecosystem, including our own payment, exchange, and a Mall. We have a global and strong community. So Newton is a global project to serve the people worldwide. So it’s very important for us to list in Binance. Binance is a real global exchange. Now we are working on the Newton Ecosystem , including Retail, payment etc industries. And will launch blockchain invoice this March.

Finally, hope you could hodl NEW, and join the ecosystem. Welcome to vote for NEW, vote for you, for your own future, and get the airdrops.

4. Can you tell me? What is the progress of development and what are some of your commercial partnerships?

Xu: Newton infrastructure has been operated for around one year. For Newton project, 2018 is a crucial technical developing period, we have initially completed the construction of infrastructure in 2019, now different organizations/real entities are joining in Newton ecosystem, we are expecting our ecosystem will enter a booming period in 2020. In 2020, For cooperation with Miaocaiwang, blockchain invoice will be issued in Q1 of 2020, and INO for Miaocaiwang will also complete. Cooperation with other real entities like Fushuo Technology will enter implementation stage. Please refer to following posters.

I would like to share the main progresses in 2019.

And plan in 2020.

5. Who is competitors of Newton and what are advantages of Newton comparing with others?

Xu: Newton Project aims to build infrastructure for community economy and social governance, and through the provision of services of governance, collaboration and incentives, Newton upgrades corporate economy to a brand-new community-based economy that benefits everyone who contributes.

Newton has a full-stack technology architecture, including the underlying public chain New Chain (MainNet launched in December 18, 2018, with a “Main chain + sub chain” structure and POA consensus mechanism, TPS over 5000 and is scalable enough for various business applications), distributed storage service New Net and New IOT (covering more than a dozen sensors). Above basic technology layer, Newton has a Hyper Exchange Protocol, which includes digital identity and credit, supply chain, digital marketing, transactions and payments, trusted physical channels, self-finance and NNIO, etc.to support DApps with real business value, such as New Mall.

The first use case is NewMall, which is an on-line chain retailer that combines blockchain technology with e-commerce, through Newton, huge commercial intermediaries will be eliminated and consumers and other contributors will benefit. In addition to the retail industry, Newton is also committed to foster real applications in agriculture, supply chain, self-finance, payment, public welfare, games and other fields.
Newton is not the blockchain e-commerce mall, we have not found any project with similar positioning.

6. What is the consensus algorithm used by NEW and how was it picked?

Xu: It is PoA. Newton first proposed the concept of “human-machine community”. In the blockchain ecosystem, the bookkeeping machine nodes have contributed to maintaining the ledger and should be rewarded. However, most projects don’t take into account that individual humans have also contributed to the prosperity of the ecosystem and should also be rewarded. Newton’s incentive mechanism covers machine nodes and human nodes. Human behaviors such as inviting, shopping, operating nodes or voting for nodes can obtain benefits according to the incentive mechanism. The meaning of “mining” is broader.

PoA is much suitable for Newton.

7. How do ordinary users can participate in NEW? Could one run nodes, for instance?

Newton community nodes are divided into machine nodes and human nodes. The machine node incentive rules have not been announced, will be announced in 2020.

Currently, users can get new by inviting new users to use NewPay and create NewID, participate in governance (operating nodes or voting), and shop on NewMall & WanqiMall.
please find more info. at newtonproject.org/faq.

8. Can you tell us the motivation and benefits for investors to hold NEW token long term? What plans do you have to help drive demand and scarcity for the token.

Xu: As the native token of NewChain, NEW will be circulated in all use cases based on NewChain, and charged as NewTax. In the short term, the support for the value of Newton Token is derived from the transaction scale of the entire Newton economy. In the long run, with the increase of effective participating users, merchants, and transactions, it will accumulate in Newton economies with more and more digital assets. The “volume” of digital assets supports the valuation of Newton token., and cooperating with real entity companies which have business and profit, such as Miacaiwang. Miaocaiwang will use NewChain to issue the blockchain invoices for customers. Every issuing will be a transaction on NewChain and will generate NEW from the transaction fee, which will go to NewTax.

9. What is the difference between NewMall and traditional e-commerce platform?

The Chain commerce mall NewMall is Newton’s first practical application, uploading data on user relationships and purchases to the NewChain public chain. These become personal digital assets and earn users NewForce and Gravity, and subsequently NEW.

On NewMall, there are no giant intermediaries, and the costs for merchants are extremely low. Consumers automatically earn NEW through their purchases, and can also recommend merchants to the platform. They earn rewards for each item that merchants sell, and can also earn more through NewPay and NewMall’s incentive system, by referring others to shop on NewMall. The platform is owned by its participants, breaking down the line between “platform” and “company” to truly build a business model where “everyone sells, everyone promotes, and everyone is a shareholder.”

10. NewFund is a blockchain FOF (Fund of Funds) under the Newton Foundation, with the purpost of attracting more people to participate in the development of Newton’s business ecosystem. What are the achievements it reached? Do you have any plans to promote its strong development in the future?

NewFund is an important part of the Newton ecosystem. Its global investments allow Newton to power the real economy, and give NEW real value, linking real and digital value to create a completely new business model.

NewFund is managed by Saichuang Gravity Capital, a NewOrg jointly initiated by Saichuang, Wanqi Group, and the Newton Foundation. Currency rights are calculated by the NewForce produced by participating in the partnership node. Participants operate through NewPay, control their own private keys, and exit and distribute income through smart contracts, which is more efficient than how traditional equity funds operate.

The objective of NewFund is to power the traditional real economy. It mainly selects real economy projects for investment, reflecting the value of the traditional economy through NEW, while also creating liquidity for the Newton ecosystem.

In contrast to traditional investment funds, not only can Newton users invest directly by themselves, becoming limited partners in the fund, but they can also jointly build the community by finding high-quality investment targets.

11. Does the NEW team have a plan to reduce supply? And what is that plan?

There is no plan to reduce supply. In the design of Newton’s token economic model, 60% of the tokens, namely 60 billion NEW, will be released through mining in the next 50 years, so 1.176 billion have been destroyed, and the maximum total supply after 50 years is 98.824 billion. In the released part, 4.6 billion NEW are locked in the community nodes. The quality of actual circulating is around 40 billion, which is actually not high.

12. How can you ensure that your core team members will remain committed to this project?

Newton project has been operating for 2 years. In the past 2 years, our team members including me have been continuously communicating with our partners, communities, medias with real identities. We are constantly developing new products and strictly following the roadmap to realize our plan, including release our mainchain-NewChain, our wallet NewPay, and the first DApp NewMall, etc.

NEW token metrics is public at Newton website. Foundation tokens will be unlocked in 3 years. For team tokens, first year is the lock period, from the second year, 1/24 of the total amount will be unlocked every month.

13. What are the requirements for a user to run a node on NEW?

Holding more than 10 million NEW and you can initiate a human community node in Newton wallet NewPay, after getting two votes, the node will be elected and earn NEW every day. We have improved the mechanism, if you hold 2 million NEW, you can initiate partnership human community node, someone who has 1 million can join to co-found the node, when the node collects 10 million NEW, community members can vote for it.

14. How does Newton rate the importance of the user community? What was Newton’s plan to build the user community?
In what market is Newton focused? How does Newton assess development potential in Vietnam?

The Newton Project is a global project with communities distributed across 89 countries. Newton has established 39 global telegram groups covering more than 180,000 people as the end of 2019. Community is the foundation for the Newton community-based economy. NewIDs exceeded 650,000., Newton values the southeast Asian market. In 2019, Newton’s development in China has achieved great results, whether it is community building or ecological cooperation. In 2020, Newton will focus on overseas markets and seek more powerful partners and use cases in southeast Asia and Europe, etc.

15. “Everyone Should Benefit Directly from Economic Growth”. So what benefits will people get from the Newton project?

You will get NEW. NEW is the carrier of value in Newton Ecosystem. Newton incentive mechanism will ensure incentives to cover all positive behaviors in Newton community economy.

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