Ultrain is a new type of public Blockchain that has been developed in China, demonstrating that China continues to be a world leader in this technology.

The company has an impressive team with Rui Guo, the CEO, being a former technical director at Alibaba Security and also an employee of IBM. Other team members come also from Alibaba, like the co-founder, Ning Li, who was technical director of the Alipay Blockchain team, and Yufeng Shen from AliOS and Google.

Ultrain Blockchain has been designed to be able to handle high volumes of data created by Internet of Things (IoT), while also utilising automated decision-making and employing Smart Contracts via Artificial Intelligence (AI). It claims that it will be able to handle 200,000 Transactions Per Second (TPS), this compares to Ethereum’s 10-20 TPS.

Ultrain issued its token (UGAS) in April 2019, and at one stage it was worth over $31 million. However, despite the recent rally we have seen in the Cryptocurrencies in the last few months, Ultrain is only valued at around $18 million. 

Recently, the Chairman of Asia Pacific for Nasdaq visited Ultrain, which is being widely used in travel, luxury goods, supply chain, sharing economy, medical, retail and media entertainment. It already has a strong global presence with partnerships in over 16 countries. 

This is a Blockchain to keep an eye on, given its very impressive tech team and its relatively high processing speeds (TPS), which is what a number of larger organisations like Nasdaq will require as they integrate Blockchain technology into their own businesses, more and more.