Elastos aims to create a new kind of Internet, powered by blockchain technology. On this
new Internet, people will be able to own digital assets and generate wealth from them.
Today, there is a seemingly infinite supply of digital books, movies, music and games. But
people do not necessarily own their digital property. You can purchase a digital book, for
example, but you can’t sell it to anyone else. So, do you really own it? Elastos wants to
make digital assets scarce, identifiable and tradable. Property rights pave the way for wealth
creation, and Elastos intends to build a new World Wide Web that respects those rights.
The goal is to create an Internet that allows users to access articles, movies and games
directly, without going through a media player or another platform intermediary. Elastos will
use blockchain technology to issue IDs for digital content, making it possible to know who
owns which digital assets. On the Elastos Internet, filmmakers will know how many times
their movies were viewed. The combination of Elastos and blockchain technology lays the
foundation for a trustworthy and secure Internet of Wealth.
Elastos will be a platform for decentralized applications (Dapps) that runs on a peer-to-peer
network with no centralized control. People can access these Dapps via their mobile
phones, without changing their operating system. The old Internet is a Web of information. If
you click a URL, you get data. Elastos is creating a Web of apps. When you click a URL, you
get code. The Elastos Web will be a special economic zone where Elastos tokens function
as the base currency.
Elastos is open-source software whose development process has been sponsored by
industry giants such as the Tsinghua Science Park, the TD-SCDMA Industrial Alliance and
the Foxconn Group for more than 200 million RMB. Elastos has published more than ten
million lines of source code, including four million lines of original source code.