To Empower Users, Moritz Explores the True Value of Blockchain With Tenzshield
BEIJING, September 19, 2019 (Newswire.com) - Moritz is a world-famous blockchain educator. His blockchain tutorials are popular all over the world.
He is also a successful entrepreneur. "Bitfwdcommunity" - a blockchain community which he set up is now the biggest such community in Australia. His entrepreneurial achievements have been covered by many well-known media houses, such as Business Insider.
He stays in touch with people in the global blockchain community, including Chinese entrepreneurs like Xiaoping Xu, the founder of ZhenFund. Moritz thinks the Chinese blockchain market needs more projects which would be truly based on the actual need of users.
As an entrepreneur, he has also dabbled in e-commerce and the experience he has gathered in this area helped him realize the pain points of customers in the e-commerce world.
To make users become digital citizens, he set up Tenzshield to empower users and meet their needs.
01 Popular Blockchain Tutorials
In 2017, Moritz issued a series of tutorials about "how to issue a token" and "how to do an ICO", and the tutorials reached more than 1 million readers and were translated into 7 languages, including Russian, Portuguese, Italian, Ukrainian, Spanish, Chinese and Japanese.
Nearly 2 years have passed, but these tutorials still appear at the top of Google search results. As a result of this, people are continuing to profit from these tutorials.
Taking part in all types of blockchain conferences and communicating with people from different cultural backgrounds are what Moritz enjoys doing.
He has been invited to attend some of the biggest Blockchain conferences in Silicon Valley, NY, SG, China, Amsterdam, Prague, etc. Besides, he also participated in Bitcoin Wednesday, which is the oldest blockchain conference.
Speaking of the opportunity to enter the blockchain area, Moritz said he should thank his Chinese friends.
In 2016, he joined the Stanford Pitching Competition as a fellow member of ASES Stanford Entrepreneurs. A Chinese member from his team proposed the concept of blockchain. Since it was a relatively new concept back then, it was not accepted well. But Moritz picked up the idea.
He still remembers the feeling when he first learned about blockchain, "It was a crazy moment."
He became a blockchain entrepreneur after realizing the power of it.
In 2017, he established Bitfwd with his friends to provide a place for people to have blockchain education.
Later, Bitfwd became the biggest community in Australia and also has users from the US, UK, and China.
It is during that time that he created those popular tutorials.
Moritz's business achievements in the blockchain industry have been reported by mainstream media like Business Insider, Hackernoon, Tech in Asia, Technode, and Huobi research group.
02 Empower Digital Citizens
As an entrepreneur, Moritz also explored e-commerce.
When exporting products from China to Brazil, He needs to use different kinds of apps.
“Sometimes I am an advertiser, businessman or seller, and sometimes, I am even a user.” Different roles helped him realize that there’s a big gap between sellers, advertisers and buyers in the world of e-commerce.
Everyone profits from data, excluding users. Besides, many e-commerce platforms even affect buyers in a negative way by stealing, selling or using their personal information.
Platforms like Google, Facebook, Twitter always claim to offer the so-called value by providing free services to users, while for the users, the reality is different. The moment they enjoy free service is the moment they lose their benefits. This is because these platforms often make money from user data.
Since the scandal of Cambridge Analytica Ltd, the privacy problem breach issue a hot topic. By and large, the society began to realize the value of data analysis and focused on data sharing through those social platforms.
Moritz does not deny the necessity and effectiveness of data analysis. He just believes that it should be legalized.
“For users, they ought to have two choices, protect or sell. There should be a tool to empower users, allowing them to manage their data simply and effectively, as well as active digital freedom should be there,” he said.
Tenzshield was established with this aim.
03 True Value of Blockchain
Moritz is confident that this project will succeed, for it touches the real pain points of users.
He thinks most Chinese projects are gimmicky.
“Most Chinese don’t understand the real value of blockchain,” Moritz said.
“People always think blockchain technology can solve everything.” He found the Chinese market likes exaggerating the power of blockchain and even deploy it in every field.
Actually, blockchain is not suitable for all sectors. In some sectors, there is already a mature technology and there is no need to apply blockchain technology.
“Most of them do not make sense.” Moritz said, “The meaning of blockchain is value changing but they ignore it.”
“Tokens are native internet money. They will continue to allow digital users to exchange value through code. It is a beautiful concept that still has to be deeply explored based on REAL scenarios.”
Although he thinks the Chinese market is some kind of boastful, he still feels happy with the “blockchain craze” in China.
Xiaoping Xu, the founder of ZhenFund and a famous angel investor, is a respectful businessman, according to Moritz.
Last year, he met with Xiaoping Xu in Beijing. They had a nice talk, covering everything from the idea of technology’s influence on life to the future of blockchain and cryptocurrency.
Xiaoping’s respect and calmness impressed him, “he makes you feel he is listening to you sincerely.”
03 Simple and Effective solution to Privacy Problem
“Simple and effective” is what Moritz wants to emphasis.
Although Google and Facebook have been exploring ways to protect users' privacy.
For example, Google allows users to manage their privacy settings while without notifications. “Most users will not manage it until they are reminded.”
Most apps promise that they will not sell user data. But, in fact, there exists a possibility that user data will be hacked and sold once the data is stored in those apps.
Most importantly, they don’t apply to blockchain technology.
Compared with other solutions, they are not as simple and effective as Tenzshield. There are three features of Tenzshield.
Firstly, Tenzshield uses serverless architecture, which can protect users’ information security.
Just as what the name of Tenzshield wants to convey, Tenzshield only works as a shield. Serverless architecture ensures that users can enjoy all services on the platform without login. Tenzshield will not store user data, which means there is no risk of leaking information.
Secondly, Tenzshield uses a blockchain reward engine to achieve a perfect profit circle, which enables users to sell their information to companies and makes using user data legalized for companies. Besides, users can pay tokens to enjoy better services from those companies. The token is issued by Tenzshield and named as TEM, which is used to exchange and make profits.
Thirdly, Tenzshield is easy to use and convenient.
With API interface for all kinds of social platform, the users can manage their privacy settings in one app.
Once users choose to sell their data, then Tenzshield will work as an intermediary to help the companies send tokens automatically to users. Any novice user can use it by simply managing their privacy status from their smartphone.
Moritz admitted, “Blockchain technology is not the only way to solve this problem, but it would be simpler and more effective.”
Nowadays, Tenzshield is building the smart contract of the reward engine. After that, the team will spend several months to build the front-end interface and start connecting with platforms.
That would be the key to decide whether Tenzshield is successful or not.
On one hand, the reward engine needs to be fair and reasonable, whereas it’s too hard to judge the value of those data.
On the other hand, it will involve different API during interfacing with other platforms. It needs time to test it again and again.
There is no need to worry that those platforms will limit Tenzshield as Tenzshield only changes the privacy settings but not the core of code.
Tenzshield has already been implemented for testing in privacy settings for Twitter and Facebook.
Moritz believes that this work is continuous as there are many data-rich platforms that profit with user data.
He also believes that the meaning of tokens is to change the role of users in the traditional system.
Moritz is particularly interested in digital freedom under the cryptocurrency economy, with the hope to change the status of users from ‘being deprived’ to ‘being served’.
Through Tenzshield, he says, “users can profit from the digital era.”