On June 6th, BAG became available on OceanEx, giving buyers their first chance to invest in the project. This sparked a frenzy, with the price shooting up nearly 1000%.

BAG had large gains on their first day of listing

The issue? Nobody outside of China had any idea what the project actually was.

So what is it?

Bitagora aims to be an AI-powered predictive markets and community ecosystem, using a series of features to provide value to the users. Here’s a quick look at some of the features, in a more easy to understand format:

Decentralized Knowledge Base

As a news aggregator and content portal, the platform will provide users with the latest in accurate and trustworthy content, allowing users to make more informed decisions. Included are breaking news stories, market data, and third-party analysis. This is especially valuable in China, where larger news sources typically avoid reporting on digital currencies. Smaller news sources are unreliable and often distort facts to promote personal agendas, a problem often mirrored by the western media. Content creators can contribute and be rewarded with the BAG token, encouraging them to report with more integrity to attract a larger following. Content creators will be able to interact with followers in a number of ways, including interactive polls and live-streaming. This will help Bitagora become one of the most trustable sources of blockchain news and data, as they build a decentralized knowledge base.

Shared and Incentivized Community Buidling

Another feature is the blockchain-based community building platform – users will be able to create private communities where they can provide forecasting insight such as technical and fundamental analysis. By using the BAG token, users can charge for access to communities and predictions, while the blockchain aspect of the communities allows users to verify past predictions to ensure the accuracy of the forecasting. This ensures a level of credibility to users who provide quality predictions, and encourages new users to pay for services with confidence.

Predictions, AI, and Quantitative Analysis

The predictive nature of the platform doesn’t stop here though – confident users can stake tokens on their predictions in smart contracts – creating a decentralized reward pool that forecasters compete for. AI algorithms analyze the collective predictions to form quantitative analysis based on overall platform market sentiment. Users who stake predictions value in two ways – they can earn tokens for being right, while also adding to their blockchain-verified prediction history, which can be used to attract users to their private communities. As a whole, the community benefits by having more verifiable forecasting data available, and can easily see which users have been successful in the past, as well as gauge overall trends that are free from individual biases.

The overall platform is discussed in much more depth in the whitepaper.

Who is behind this?

The Bitagora project evolved from BCTOPIA, which was one of the largest social communities and news sources for digital currencies, with a focus on market predictions and analysis. They will have the benefit of an existing community and team to launch their platform on. The CEO and founder is listed in the whitepaper as Cai Songting, whose credentials are listed below:

As an Australian, Songting had initially served as a system engineer at British Aerospace Systems Australia. A set of unique trading systems and models were formed for the quantitative and macro transaction system algorithms and concepts, and the high frequency / quantitative trading model of stock index futures and commodity futures was established by him. Subsequently he became the director of investment in Shenzhen Qianhai Tianmou investment fund. In September 2017, his first public private placement fund was issued, and its main strategy was based on commodity futures high frequency trading strategy. The trading profit was higher than 50% a year, and the maximum drawback was very small.
Songting holds a Bachelor of communication and network engineering from Swinburne University of Technology in Australia; a Master of information systems from Australian National University; a Master of Business Administration from MIT – Tsinghua University.

– From the Bitagora Whitepaper

So what can we expect?

Bitagora emerged quietly and suddenly on the Chinese market, and the token was listed with little fanfare. The previous platform, BCTOPIA, is well-known in China among digital currency traders, so should be able to gain traction and users when the platform is launched later this year. The Chinese market is in dire need of more legitimate data sources, especially as the investing scene matures and more and more projects take root.

For VeChain investors, the blockchain-based predictive model could be a great way to encourage transactional volume on the mainnet as platform interactions and smart contracts burn VTHO on a daily basis.

Still, there remains a lot of questions about the platform. Data is scarce on the website, and the first English-language whitepaper has many mistakes throughout. While this platform might initially be focused on the Chinese community, it would be nice to see more transparency and details before listing on exchanges like OceanEx. My initial attempts to contact the project weren’t very successful, and the information in this article is based on the whitepaper, basic research, and third-party sources. In the upcoming weeks, I’ll continue attempting to learn more about the mysterious project – where we can hopefully learn more about the scope and legitimacy of the team, investors, and strategic partners.

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Note: This article was republished from VeMag.

Quick self-introduction on Actiware: We are the development centre of an established group of companies that has been active in the market for almost 20 years. With our group we have comprehensive competences in all areas of information management. These include ERP (Enterprise Resource Planning), ECM (Enterprise Content Management), BPM (Workflow Management), Business Intelligence (BI) and portals.

We create holistic solutions for the affordable and self-determined design of digitization. Our platform provides — on-prem or in the cloud — answers for data and document management, IoT data collection, search, evaluation and organization of daily work. Always with the goal of achieving end-to-end information transparency with sustainable process automation.

Our solutions are distributed and introduced via various partner networks, especially in Europe. We are continuing to expand this network. We are looking for partners worldwide who can provide qualified consulting in specific areas of expertise (ERP, IoT, document management or blockchain applications).

Homepage — https://en.actiware-development.com

Interview

VeMag: What does your VeChain module offer and what advantage does it offer companies that integrate it?

Actiware: The first version of our VeChain module allows you to link processes holistically across different systems and make them verifiable: Information from business applications (including ERP systems), documents (such as receipts, emails, contracts) and IoT data can be linked to VeChain Thor via a so-called VeChain processor — to store important data in the blockchain. This is done very easily — by graphical modeling and without programming.

Process Engine: The user can independently decide at which point data can be stored in Vechain Thor.

The platform demonstrator shown at the VeChain Summit makes the holistic use tangible: Data capture starts here in the SAP ERP system, IoT data is linked directly, as are provided documents. With the module integration, we are able to capture machine data using a Raspberry Pi as Edge Device and a Siemens S7 controller via OPC/UA (Open Platform Communications Unified Architecture) and combine this with the VeChain module in filtered form if required. The data is processed live and in the context of the ERP system. The conditions under which production takes place are tracked, and the VeChain module provides proof of this.

The platform demonstrator in action: transactions were stored in real time on VechainThor. All machine data was also directly linked to normal business data. With this solution, however, much more is possible.

However, our possibilities go far beyond the middleware and the process engine. These central services are part of the holistic information management, which also organizes the storage, administration and provision of data. Here, blockchain networking can be simply switched on as an element through the FAAS architecture: In document management, for example, this can be used to prove relevant actions on a document or its metadata. This makes sense, for example, when working together across organizations.

We have also made it possible to call up verification data directly from business transactions, i.e. relevant questions can be answered quickly and reliably with powerful information from the context.

The application possibilities go so far that data collection processes and input forms can be graphically combined in processes that interact directly with VeChain Thor. Here we deliver a modelable user interface to the VeChain Thor network for dialog-based blockchain applications.

In general, the system can be used as standard software without any development effort.

VeMag: Why did you choose VeChain?

Actiware: We tested several providers for the control from our holistic platform. The VeChain team and the authentic communication appealed to us. We were positively impressed by their focus on professional business applications of blockchain technologies beyond crypto currencies.

In comparison between different providers, the consensus mechanism and Multi-Task-Transactions (MTT) also convinced us in the first tests. We see the dual token design and the possibilities of the Multi-Party Payment Protocol (MPP) as an important element for a broad adaptation of the technology. The possibility of allocating transaction costs can make it considerably easier for small companies to introduce appropriate solutions or make them possible in the first place. Market participants can thus create solutions for holistic usage scenarios that would otherwise not be possible.

We would also like to emphasize the support of the VeChain team. Compared to other blockchain networks, there are clear differences in our experience in development support.

VeMag: How did the integration work? Were there any difficulties?

Actiware: We didn’t need much time. The modular structure of our platform, especially the central process engine, made the integration easy. Most blockchain projects focus on end consumers with mostly client-side applications, keywords: Connex, Web3, etc. We are committed here per se to a holistic approach, which functions generically and modelably on the side of service usage and user interaction.

Most of our work was possible with the documentation of the vechain / thor Github repository. If we had any questions, we always received a prompt answer from the Foundation core developers. Here we would like to thank libotony and Bin Qian personally once again.

VeMag: Are there any other plans to work together with VeChain?

Actiware: We were very pleased about the official interest from VeChain. Jérôme Grillères visited us at our booth at the Hannover Messe, the world’s largest industrial fair, and invited us to the VeChain Summit in San Francisco. This was a logistical challenge due to the short time, but a good decision: In addition to the exchange with the community, well-known VeChain partners and companies interested in Blockchain, we received a lot of positive feedback on our holistic solutions.

The most important thing in San Francisco was the exchange with the VeChain management team, who spontaneously took their time for us. The discussion was very positive, both sides wanted to work together. We arrived in the ecosystem by high-speed, so to speak, and now it’s time to put the rest into concrete terms. The first cases in which joint steps can be taken in the market already exist.

We think our offer can bring enormous advantages to blockchain providers:
We see ways for the breakthrough of blockchain networks on the one hand in the adaptation with tools such as tool chain. On the other hand — in the business sector — the fully integrated connection of existing systems, as a continuous automatism. It is becoming increasingly important to connect existing business environments with blockchains.

For VeChain and VeChain partners, our strong, modelable integration technologies for all types of data offer great opportunities. We are looking forward to all requests for cooperation. We are generally open for partnerships.

For the original article, visit here.

Original Author’s notes:

I would like to thank Artur from Actiware for the interview.
VeMag is a hobby project. If you want to support me, you are welcome to do so. Thanks a lot!
VET: 0x44BeF4B2E9c0E0C2856cFa8Dc7F4d717218833b3
BTC: 1NhF5XdXzTwRfiVc3DByTgnBLTukBw72c9

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It’s the goal of every cryptocurrency project to have a thriving community of developers, investors, and enthusiasts. However, finding those who can engage with the platform and help spread knowledge is easier said than done. In China, regulations have made this task even more difficult – especially as VeChain’s long-term ambitions require the support of local regulators. In order to be compliant, VeChain has recently begun taking creative steps to cultivate a new crop of investors and channel partners here in the world’s most populous country.

Like the west, many investors are only focused on short-term market performance, and aren’t concerned with mainstream adoption. The industry is saturated with scams and multi-level marketing schemes backed by blockchain buzzwords, and information is limited by national internet restrictions and language barriers. For projects attempting to use blockchain to generate real-life value, this can be a real issue. Here’s a quick look at how VeChain is taking steps to develop a stronger community both here in China and abroad.

ToolChain and BaaS

VeChain’s latest product, ToolChain, can be used by the community to onboard SME’s and locally crafted products. However, this requires business owners or community members to have an understanding of the value blockchain can bring – a point often lost on those individuals focusing on market performance. ToolChain was created as a way to bring value to channel partners, in a manner that incentivizes a segment of the community to learn more about blockchain and supply chain integration. Already, global demand has been high, with over 250 applications. As the Chinese community is introduced to this white-label product, more and more people are being exposed to VeChain and blockchain in general.

Blockchain-as-a-Service has become an incredibly important area of focus for Chinese tech companies. With over 197 blockchain companies (including VeChain) legalized under the country’s new blockchain framework, BaaS-related projects will find it easier to navigate local regulations. ToolChain and ToolChain channel partners should find China to be very BaaS-friendly over the upcoming months, helping to spread adoption.

Educational Services

VeChain recognizes the importance of cultivating a mature and knowledgeable community. On May 28th, Dr. Ren Zhijie gave a free class on blockchain consensus methods to the community. Dr. Ren is a senior researcher at VeChain, who is also published in the fields of blockchain consensus algorithms, scalability, and applications.

VeChain conducts a free class on blockchain consensus methods from their Shanghai office

Education has always been a field that VeChain has led in, headlined by their global VeResearch program. In the past, they’ve worked with top western universities such as Oxford University, Michigan State University, MIT Media Labs, Dartmouth University, and Stanford University. VeChain is also focusing on institutions closer to their Shanghai office, including South China Normal University, City University of Hong Kong, and Shanghai University of Finance and Economics. Top national schools including Qinghua University and Shanghai Jiaotong University (Renji Hospital) have also been involved with the Digital Low Carbon Ecosystem. While working with these elite institutions, VeChain is exposing an entire generation of top talents to blockchain’s enterprise use cases, as they take part in research that leads back to creating more innovative VeChain projects.

Recently, VeChain has taken a more assertive role in community management. They have suggested more educational opportunities will become available, as they try to grow a stronger community of technically-capable participants. Vechainworld.io has been created as an educational resource and a networking platform for contacting both the team and other members of the community. As the summer months approach, it will be interesting to see how China’s massive population responds to a heavy national pressure to develop emerging technologies. With an unrivaled list of enterprise and institutional partners, and an untapped market of highly-nationalistic Chinese citizens, VeChain could quickly become a household name within the tech industry.

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The Guiyang Big Data Industry Expo is one of the biggest technology events of the year in China, and the 2019 edition started with a congratulatory letter from Chinese President Xi Jinping. He declared that China attaches great importance to the development of Big Data, and is willing to share the opportunities of economic development with other countries. Furthermore, by exploring new technologies, formats, and models, they can jointly discover new growth drivers and development plans.

The significance of having President Xi’s blessing should not be missed by global technology experts. With 5G, AI, robotics, Big Data, and blockchain being key themes of the industry expo, it further highlights the commitment China’s central government has towards innovation in emerging technologies. By taking a lead role, the central government can ensure that China remains at the forefront of these industries, putting intense pressure on the rest of the world to keep up or risk being left behind.

Not surprisingly, DNV GL was a central figure at the expo. Business Assurance CEO Luca Crisciotti and Business Assurance Greater China CEO George Kang were both in attendance, with the former speaking in a panel alongside VeChain CSO Mike Zhuang. Their panel, entitled “What is the role of Blockchain on Green Finance” spoke about the pivotal role that blockchain will play in many new economic models, with VeChain and DNV GL’s Digital Low Carbon ecosystem being a great example. “Green Finance” is an area where VeChain (and blockchain in general) is proving its value to regulators by directly contributing to the improvement of society.

Monday May 27th, VeChain CSO Mike Zhuang takes the stage alongside DNV GL’s Business Assurance CEO Luca Crisciotti.

This year’s event also received a letter from the Secretary General of the United Nations, who noted that Big Data has “great potential to accelerate the achievement of the Sustainable Development Goals.” The UN’s Sustainable Development Goals have recently been the focus of VeChain, who are using blockchain to encourage the reduction of Carbon emissions.

Guizhou Province has been very effective at blending traditional culture with rapid innovation. The home of famed rice-wine producer Moutai, Guiyang is also the home of numerous new technology centers, including the GuiAn New District, a smart city that is exploring blockchain implementation with VeChain. The GuiAn New district was a co-organizer of this year’s event. The event takes place from May 25th – 29th.

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