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Wanchain – rebuilding finance with private Cross-Chain Smart Contracts

Wanchain aims to build a super financial market of digital assets. It is an infrastructure connecting different digital assets. With this infrastructure, financial services based on different digital assets can be carried out in a distributed way, finally forming a financial market composed of different business providers, application developers and clients. The concept of Financial Inclusion seeks to give disadvantaged people and small enterprises, worldwide, better access to the financial system and lowcost financial services. Two and a half billion people in the world do not have access to a bank. They can neither open a saving account nor obtain a credit card. These people are separated from the global economy. Users that conduct cross-border remittances through banks bear high transaction expenses. Common investors can only buy relatively low-end financial products from major financial organizations and cannot participate in the early-stage investment of technological companies such as Google and Alibaba before they are listed. Despite having good credit and outstanding performance, many small and medium-sized enterprises are not the targeted clients of traditional banks under the 80/20 law, so it is difficult for them to obtain loans . Georg Hegel said "Reality is a historical process," and the emergence of blockchain technology is changing the above situation. When Venezuela recently depreciated its currency, Bitcoin became a popular asset safe-haven. In the Philippines, people working in foreign countries can remit their income to their inadequate hometown banks through the blockchain network. Investors that participated in the primary investment of famous ICO blockchain projects, including Ethereum, gained hundreds of times the return on their investment. Blockchain technology is boosting Financial Inclusion to new heights. Wanchain is entering the fray and engineering an infrastructure totally based on distributed networks and cryptology. We are solving the issue of transferring assets between different blockchains by using improved blockchain technology rather than by using another more centralized method. The objective of Wanchain is to provide financial services, based on digital assets, to all blockchain clients in a safe and open way. With Wanchain, any individual or institution can set up their own business window and provide services such as loan origination, asset exchanges, credit payments, and transaction settlements based on digital assets. The blockchain-based infrastructure provided by Wanchain guarantees that more people will enjoy increased access to financial services based on digital assets, retain better control of their assets, and have more ways to increase the the value of their assets. The blueprint for Wanchain we envision is a distributed super financial market based on blockchain. Wanchain is a project created by the blockchain team led by Mr. Jack Lu. Mr. Lu joined the blockchain revolution in 2012 and cofounded Factom, the globally famous blockchain project. Factom was introduced to the public with the headline "The Trust Machine: How the Technology Behind Bitcoin Could Change the World" by the famous British magazine, the Economist. In 2016, Mr. Lu founded Wanglu Tech in China and devoted himself to blockchain commercial applications. Wanglu Tech has achieved commercial success in the areas of immutable records and supply chain financing. The Wanchain team is using resources in China and the United States to set up a global R&D team. More importantly, the Wanchain team has retained the top experts in applied mathematics and cryptology. As part of the Wanchain scientific

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