Dear APEX Community Members

I am thrilled about all the questions the community management team received, and I would be happy to answer them in all of my ability — although we did receive many questions that were overlapping. Hence I thought a better approach was to categorize the questions and address all details and developments by category/area of interest.

First, I would like to share that mid-February I made it back to Shanghai after a one month trip to Silicon Valley, which was a meticulous process as all direct flights were cut off. I had to stay a couple of days in Seoul, South Korea, and hopped on a plane to Shanghai right before the outbreak in Korea. By the time I reached Shanghai parts of the team the team were already back to work after an extended Chinese New Year break due to the coronavirus. We were able to leverage WeChat’s enterprise collaboration and messaging platform to maximize productivity.

All in all, it has hit the macroeconomic environment quite hard — during this period many companies (including tech companies) have closed down due to cash flow problems. Fortunately, we are not only up and running close to normal status, we have positive developments and news during this period as well.

We are on track to have 4–5 enterprise pilots this year that will use APEX Network in production mode. Currently we cannot yet disclose the names of the enterprise pilot users but there are three piloting enterprises from two different industries that are well into the process and already beginning to see value:

We are expecting first experimentations of pilots on the official APEX Network mainnet as soon as 1–2 months after launch. We are also in the process of experimenting with a hybrid model where user data is stored on a private or alliance chain version of APEX Network, but cross-enterprise transactions occur on the main network.

Pilots are actively pushed by the partnership development team if they assess the enterprise to be a good fit. At least 70% of our enterprise base are aware of our blockchain technology offerings.

Federated Learning, of which an early introduction was given by the team, is one of the latest blockchain technology features we are developing, and it will eventually be available for use both on the main network as well as private/hybrid chains. As previously stated, the goal is ultimately to have it run on the public chain. Indeed, FL at scale only makes sense at the public chain level, though to ease adoption and reduce hesitance I’m sure certain enterprises would like to test it at the private level first.

I am no longer actively a part of managing Ledger Capital and only manage matters relating to exiting previous investments.

That’s an overview of the current situation for APEX Network based on the questions submitted through the community management team. I look forward to being able to share more updates and news with you all on a regular basis as development, partnerships and other aspects of the project progress — either in video format (with the assistance of Blockchain Brad for example) or in written format. Thanks for reading — we appreciate all of you being part of this journey with us!

Jimmy Hu,
CEO, APEX Network

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