On July 15, the first ever seminar for the “Construction of A National Blockchain Technology and Industrial Innovation Development Base” was held in Haikou. At the event, PROBE and the Star Alliance Foundation signed an agreement affirming their strategic partnership. PROBE founder, He Cong, also took the opportunity to announce the timeline for the launch of the PROBE Chain testnet.

The seminar was guided by the Hainan Provincial Department of Industry and Information Technology, co-sponsored by the Hainan Blockchain Association, PROBE, Star Alliance Foundation and Fuxing City. Cui Shutian, deputy director of the Hainan Provincial Department of Industry and Information Technology, also delivered a speech.

The seminar culminated with the signing ceremony between Probe Lithuanian, a subsidiary of PROBE, and Star Alliance Foundation. The two parties signed an agreement to be strategic partners, with plans to open up financing channels for Chinese and European companies through PROBE, especially for small and medium-sized enterprises, and to support the real economy through financial technology such as blockchain.

Both parties agreed to the policies as detailed on the “Complete Proposal for the Construction of the Hainan Free Trade Port”, using Hainan as a base for cross-border finance, giving priority to Hainan enterprises and projects for overseas financing; and inviting foreign enterprises to settle in Hainan. Ultimately, these plans will help Hainan move towards being the base for national blockchain technology and industrial innovation development.

(From left to right: He Cong, Founder of PROBE, You Bin, CEO of PROBE, KK Choo, Co-Founder of Star Alliance Foundation, and Sun Xuepeng, Co-Founder of Star Alliance Foundation)

PROBE is a corporate group engaged in blockchain, digital asset services and bio-computing. It is also the parent company of Probe Lithuanian, a blockchain technology service provider that provides a one-stop compliance solution for European companies. Probe Lithuanian has licenses for digital asset issuance as well as trading and payment solutions that were issued by the local government and the Lithuanian Central Bank. It has a global presence when it comes to Security Token Offering (STO) and digital asset trading services, and is also the only compliance channel that currently opens up the circulation of digital assets between China and Europe.

Star Alliance Foundation is an investment fund that specializes in 5G, blockchain technology and next-gen infrastructure. Committed to helping traditional enterprises innovate through the adoption of blockchain technology, Star Alliance Foundation primarily focuses on the application of blockchain technology in the field of price networking, the provision of new financing channels for enterprises, and the realization of real practical value through blockchain technology in order the maximise the utility of corporate activities. The members of the Star Alliance Foundation comprise mainly of entrepreneurs from all around the world.

This joint partnership is expected to achieve a win-win situation for PROBE, Star Alliance Foundation and Hainan.

He Cong, the founder of PROBE, also took the opportunity to reveal the timeline for the launch of the PROBE main chain. He explained that the main chain will be launched at the end of July, and introduced the core functions of the PROBE chain with 4 sets of numbers.

5.1t: 5.1 trillion IDs. The PROBE chain visualises the world in a whole new angle, dividing the Earth’s surface into 5.1 trillion blocks. Each block comes online with 10,000 IDs, and the entire network can withstand 51,000 trusted IDs. People, mobile phones, things, and even satellites outside the earth can be added to the construction of trusted nodes, and the total amount of 5.1 trillion is more than sufficient in supporting the entire network.

0.936b: 0.936 billion PROBEs, the accounting unit of the probe chain. The generation of PROBE is completely driven by ID generation and does not involve token financing.

12Y: y refers to the year, though note that the year here does not refer to a natural year. According to the rules, a certain number of PROBEs can be mined throughout the year. Once PROBE generated by the IDs reaches a set amount in a particular year, there will no longer be new tokens generated that year. If you claim an advance, the guaranteed tokens given will be sent after a full year’s wait. This avoids the situation where first-movers monopolize the PROBE supply.

5d: d refers to distribution, PROBE will have a five-time distribution model, which can better avoid the phenomenon of unfair distribution. The five-time distribution will be tweaked if deemed unfair, and the adjustment methods will be discussed with the community.

Lastly, with the strategic partnership between PROBE and Star Alliance Foundation, Star Alliance Foundation will be assisting in the construction of nodes in the PROBE chain.