Singapore-based organization the Fusion Foundation is building a blockchain platform that allows crypto tokens to interact with one another and spur a new era in crypto finance, according to its creator Dejun Qian.
Fusion seeks to provide the much-needed infrastructure and technology for the space to evolve by enabling multiple tokens to be mapped onto the platform. These will be controlled by smart contracts and will be able to “speak to one another,” Qian told CoinJournal on the sidelines of Consensus 2018.
The idea behind Fusion is that the crypto token and cryptocurrency economy is highly fragmented with now more than 1,600 cryptocurrencies and crypto tokens, according to Coinmarketcap. Each has its own economy and specificities but they are currently working as isolated ecosystems.
“In the past two years, we’ve seen a lot of projects and cryptocurrencies come up,” Qian said. “But these different tokens cannot interact, talk to each other.”
“That’s why we are trying to develop a platform which can fuse all the tokens in one platform because each project has its own potential and design. We are trying to bring all projects together so they can talk to each other and build financial functions and solutions together.”
“On Fusion, tokens can talk to each other, they can be embedded into smart contracts with other tokens. And different players can also have some of their financial business progresses being automatically executed on the blockchain.”
One of Fusion key technologies is time-lock, which gives ownership of an asset for a defined period of time, he said.
“The token is split into two parts: one part can be used for a defined period of time, and the other part can be used from now until forever,” Qian explained, adding that this particular feature would make particular sense in areas such
