Exclusive Interview with Co-founder of the leading blockchain technology solution provider, ChainUP EXUP

By Achal Arya
Published February 28, 2020 Updated July 24, 2020

Exclusive Interview with Co-founder of the leading blockchain technology solution provider, ChainUP EXUP

In an exclusive interview with Hailong Duan, the Co-founder of EXUP, ChainUP Financial Derivatives, a leading blockchain solution provider, he explained how they were able to provide the hack-proof exchanges and how he sees Asian market as one of the most prominent contributor to the blockchain/cryptocurrency ecosystem.

    1. Can you briefly introduce ChainUP to our viewers and how you are contributing to the crypto ecosystem?

Yes, of course. Founded in September 2017, ChainUP is a blockchain technology solution provider and owns eight well-developed product lines. They include digital currency trading, wallet, situational awareness, public chain and consortium blockchain, mining pool, blockchain cloud media, liquidity, broker. We have constructed an industrial closed-loop from technology service to traffic and traffic commercialization. 

Over the past 2-over years, we have served 300+ exchange clients, 100+ digital wallet clients, 150+ liquidity service clients, including 50+ million users in over 20 countries from Asia, Europe, America and Oceania. 

The team members behind ChainUP have worked in top blockchain or internet companies and institutions in technological development and operations management, and are highly experienced in the blockchain industry. Our founder Zhong Gengfa previously served as the Technical Director of Baidu SNS Division, founding its technical team; as well, he also served as the CTO at China’s well-known P2P car rental platform, START.

The past year or so has witnessed the shutdowns of many blockchain startups, struggling with delivering POCs, MVPs and in general  implementing blockchain solutions that work. Our aim is to provide the technical solutions much needed by the crypto-blockchain ecosystem, hence contributing to this nascent industry. We strive to provide top expertise, the requisite know-how, offer diversity in the types of solutions, and provide exceptional support and service to the blockchain community.

  1. You recently launched an ETF system solution, on EXUP. Could you brief us about it?

The ETF (exchange-traded fund) system solution was recently launched on our new blockchain financial derivatives platform EXUP. ETFs are an important investment tool used to realize asset appreciation. In traditional financial markets, leveraged ETFs are a very popular form of financial derivatives. Considered an innovation over traditional ETFs, leveraged ETFs have the advantages of spot trading, no margin requirements, compounding interest or risk control. If utilized judiciously, leveraged ETFs can consistently amplify the returns of an underlying index. 

Launched on the back of our new blockchain financial derivatives brand EXUP, our ETF system solution, as with all our other EXUP solutions, is committed to providing our customers with secure, stable and efficient blockchain financial derivatives services. At present, the EXUP team has provided financial derivatives technology services to 60 over enterprises in more than 10 countries and regions worldwide.

  1. Zero security incidents since the time you have started, while there were numerous hacking incidents even in reputed exchanges. How did you manage it? 

Security is a priority at ChainUP as we understand that keeping funds safe is a top consideration for exchanges and their users. Over the past two years since we have been established, we have served more than 300 exchange customers, providing smooth functionality with zero security incidents. This has contributed in no small way to the breakthrough of these exchanges, who have stood out from the thousands of platforms.

For exchange transactions, ChainUP has a set of special risk control systems, conducting all-round risk management of the system. It also provides three-way reconciliation of finances, real-time monitoring of fund security in wallets, active security interventions, intelligent monitoring of asset circulation, withdrawal blocks, defense against DDoS attacks, traffic cleanup and 30-over other defense mechanisms. 

ChainUP’s proprietary AUROR situational awareness system performs large-scale data analysis on user behavior, multi-dimensional monitoring, real-time risk and threat detection, actively prevents high-risk behaviors and conducts system attack analyses and interception.

ChainUP also maintains in-depth cooperation with more than a dozen global blockchain security institutions. These organizations issue professional audit reports for customers, adopt formal verification technology, and automatically scan security codes. Dozens of security tests have been conducted to troubleshoot security risks, avoid hacking and ensure the security of smart contracts.

In addition, ChainUP also isolates permissions and performs multiple confirmations for high-level operations. It self-examines administrator behaviors such as abnormal login audits, attempted unauthorized operations, high-frequency server access, and abnormal pre-order behaviors.

With a complete risk control and security system, we are happy to say we have managed to ensure two years of safe operation and maintenance services to 300 customers worldwide without any security incidents.

As we mentioned earlier, ChainUP possesses a strong technical background with a team of more than 100 “technology genes” from top internet companies and other well-established blockchain companies, providing the best technology services to the market.

  1. How do you see the Asian market in terms of potential and developments?

The rise in the usage and popularity of cryptocurrencies has led to vibrant crypto markets. This enthusiasm amongst investors has gradually shifted the interest to the derivatives trading market, especially in the demand for leverage and contract transactions. We are keenly aware of the trends in the market, which is why we have launched EXUP, our subsidiary blockchain financial derivatives brand.

As most blockchain-focused financial derivatives development is happening in Europe and the US, there is much potential for development in the Asian market and we hope that the launch of our blockchain financial derivatives platform EXUP will open up new investing and trading channels for our customers in Asia. 

  1. Do you think 2020 will see a new high of cryptocurrencies and bitcoin?

Besides the effects of the bitcoin halving and the inflow of institutional funds into crypto assets, the macroeconomic situation will be a strong driver of the BTC price. As the leader in the tokens market, bitcoin price will then affect the other cryptocurrencies. 

The advent of Libra has generated an upsurge of mainstream attention worldwide in cryptocurrencies and more importantly amongst governments to develop CBDCs (central bank digital currencies). When CBDCs are implemented by governments, MNCs (multinational corporations) will likely adopt them and through the network effect, so will the SMEs (small and medium enterprises). This will provide more avenues to spread the use of digital currencies to the masses. As familiar brand names adopt blockchain technology or develop their own stablecoins, non-crypto believers will increasingly accept cryptocurrencies.

On another front, in many developing countries where the local currencies are volatile, we are witnessing a rise in the increasing utility of cryptocurrencies to hedge against that volatility. 

All of these factors can contribute to giving bitcoin and cryptocurrencies a significant boost as an alternative asset class.

  1. What’s next for Chainup?

We are in the midst of our internationalization plans. ChainUP has actively cooperated with multi-national regulatory and licensed compliance agencies to empower our blockchain technology B2B sector so as to accelerate our industrial development.

In 2020, ChainUP Group will focus on the development of these five business lines, namely, 

customized solutions for enterprises, SaaS cloud (ChainUp Cloud) solutions, digital banking solutions (HiCoin), liquidity solutions (BitWind) and financial derivative solutions (EXUP).

Implementing the 1 + 5 + N strategy, that is, 1 main brand + 5 independent business units + N joint ventures and strategic partnerships, we plan to achieve the growth from ‘single product’ to ‘product matrix’. As we build our ecosystem holistically in the blockchain technology services sector, our goal is to be a leading contender for the global market share of this business. 

And as always, our top priority is our customers and hence providing the very best in both our technology and services will always be foremost for us at ChainUP!


Disclaimer The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Achal Arya
519 Articles
I am an entrepreneur and a writer with a bachelors degree in Computer Science. I manage the blockchain technology and crypto coverages at Coingape. follow me on Twitter at @arya_achal or reach out to me at achal[at]coingape.com.