Sound | The Treasure of the Crossing of the Bulls

After the long bear market in 2018, time came to 2019, JP Morgan Chase, Facebook have issued their own stable currency, financial giants and Internet giants began to get involved in the blockchain, IEO's shots led to a large platform currency Rising, the entire blockchain industry has shown signs of recovery, and the currency price has begun to rise and fall. It seems that the bear market has come to an end. The bottom of the last bear market took place in 2015. From 2015 to 2018, three years in a reincarnation, the blockchain industry has also gone through the journey from the bottom to the climax, and is about to step out of the next trough. CoinVoice interviewed some of the industry's predecessors. They were exposed to Bitcoin as early as 2015. At that time, the concept of blockchain was not yet popular, and the infrastructure was not complete. It was still in the classical era of the industry.

They have experienced the pain and struggle of the big bear market in 2015. They have been embarrassed and confused, and once they did not know where the road is.

They are either deeply involved in project development, or investing in early projects, and there are ordinary speculators. Through the torment of the bear market, they also ushered in their own blooms.

Let us listen to their stories.

Cao Yu: Founder of the Digital Renaissance Foundation, Head of Token Market Asia

I am currently working on the STO business in the European market. I and my European partners have jointly launched a platform for STO business in Europe called Token Market. Token Market is one of the most comprehensive STO market launching platforms in Europe with a registered number of 250,000. It is currently the largest STO platform in Europe.

In 2015, I was the head of the Energy Internet Task Force at the National Energy Administration, designing a new form of Internet technology, Internet business model, and Internet thinking for the new ecology of China's future energy industry. At that time, I put the blockchain as the most important underlying technology and put it into this topic.

It is a great honour that our proposed policy has been highly praised by Deputy Prime Minister Ma Kai and was promulgated in 2016. This is the first national policy at the national level in China that refers to the application of blockchain.

In 2015, there were very few industry practitioners. The concept of blockchain is not as popular as it is now. Many people don’t know whether the blockchain has any meaning. They have no confidence in their own business and the future of the blockchain. This is a very common phenomenon.

Everyone is wondering where the money comes from, where the business comes from, and how to finance it. These are very real concerns.

At that time, the friends who were in the industry are now basically the big ones in our circle. Like Yi Lihua, Wang Xiaoming, Xu Yiji, Wang Dong, I watched these companies change from an Idea to a group. It is really interesting to turn people into a company, become a project, become a token, and finally become an ecology.

I personally also invested in some early businesses and became very good friends with everyone. This is my honor and my fortune.

The most memorable thing is that there is a well-known big man now. He came to me to help with financing. At that time, the valuation was very low. The valuation of the whole company was almost 50 million yuan. At that time, 20% of the shares were sold. The round of financing, and the current market value of this project is already tens of billions of dollars.

At that time, when everyone was eating together, it was very frank to communicate how this project should be done, what will happen to the future of this industry. In fact, everyone was very confused at the time and did not know where the direction was.

One thing I agree with is that when people are in the low valley, or when people are not so well known, they can see his nature. This friend left a very good impression on me, very honest. Later, he also developed very well, and people who treat friends with sincerity have better careers.

Compared with 2015 and now, I also have some transformations, from the Chinese market to the global market, from the currency-free blockchain to the currency chain.

In 2016, I officially jumped out of the system to start a business and do business without a coin blockchain. Starting from the first half of 2017, the company has transformed itself into a European market, specializing in Chinese companies landing in Europe, as well as European blockchain companies and digital currency companies to expand the Chinese market, providing consulting and financial services.

In this process, I met a group of very good European friends, and now I am doing Token Market's business. Under the open compliance system in Europe, I will do a series of related securities tokenization work.

At the same time, I am also providing the Estonian government with strategic advice on digital countries.

Compared to 2015, I am more calm now. The first is that in recent years, the fluctuations in the price, policy, and project side of the industry have been too great. The blockchain practitioners have developed a very strong heart. The so-called biting of the green hills is not relaxing. This is the biggest gain in the blockchain industry after these rounds.

The second is to find my real career direction, the European market. So, when you know what you can do and what you are good at, you won't panic. Regardless of the policy, the price of the currency, and the market, you won't panic.

Zheng Yushan: Founding Partner of Water Drop Capital, Dean of East Central Block Chain Research Institute

I am now a full-time practitioner in the blockchain industry, mainly engaged in investment incubation of blockchain projects, industry technology research and application.

Specifically, my main focus is on two. The first is the equity investment in the blockchain project. As the founding partner of Water Drop Capital, I joined the Changchun Blockchain Equity Fund of Qingdao Chain Bay, which is a management partnership. One of the people, the members of the committee.

The second is the industry technology research and application of the industry. I am currently the dean of the National Center for Technology Transfer Eastern Central Block Chain Industry Integration Research Institute, responsible for the research and construction of several blockchain basic application platforms.

In addition, I have held several positions in several open source and decentralized organizations, such as the Graphene Blockchain Application Center, BitShares, GoC Lab and other organizations.

I was a full-time IC design engineer in 2015. I was responsible for research and development of 5G-related chips. I was involved in some blockchain projects in my spare time. I was active in the Bitcoin and BitShares communities at the time. Moderator.

I started paying attention to Bitcoin in 2012, and it was not until 2013 that I started investing and paying close attention to this industry. The second half of 2013 was the first big bull market I personally experienced. In 2014, the first bubble burst. After more than a year of bear market, I felt that many projects were cool in 2015.

I haven't counted it in detail, but many of the early projects that were popular on the bitcointalk forum fell by more than 90% in 2015, just like now.

But at the time, 1CO was not popular, and there were almost no professional investment institutions. Most of the currencies were mines or whites sent by the community. So even if they were zero, there would be no one to defend their rights. Zhuang, then laughed at each other.

I feel that most of the participants at that time are technical geeks and adventurers. I also know that the investment risk of various coins is huge and belongs to qualified investors.

Although there were quite a few blockchain projects at that time, there were not many registered companies. Most of the projects were developed in an open source community and promoted by the power of the community. Although this method is inefficient, but the cost is lower, because the founders do not need to raise a whole team, so most projects are tenacious.

What impressed me the most was that I experienced the decentralization process of a project. In 2015, bit stocks were upgraded from 1.0 to 2.0, and there was a leap in performance and experience.

However, because the market is very cold, the response is not strong, and the founder BM is preparing to leave the bit stock and turn to his new project STEEM due to research and development funds and personal reasons, so the community is also splitting.

At that time, I personally worried about the future of BitShares. I felt that there was no leader in BM and a talented programmer. Before the BitShares, there was no founder. The successful project that relied entirely on the community only had Bitcoin.

However, after the BM left, the bit stock did indeed experience a period of downturn, but later survived stubbornly, and became a decentralized autonomous project, in the core program development employed in the blockchain. Under the efforts of the team (wage from inflation tokens), the speed of updating a large version every six months is not easy for an old project with a history of 6 years.

This incident makes me believe that a true decentralized autonomous organization is completely feasible. It can run a huge project at a very low cost, which makes me a new type of company and even a social type in the future. With a deeper understanding, there is greater confidence in the future of the blockchain.

Even if it is tough, I will not transform or quit, because I have found a business that can work for the rest of my life, that is, the blockchain. This has never been the same in my life for more than 30 years.

Because of this, I will leave my previous industry, even if I have obtained the highest degree in that field, published the top journal articles, and have a high-paying job in the top companies in the industry.

From 2015 to the present, the biggest change I think is the social recognition of blockchain technology or industry. In 2015, only a few people could understand the blockchain. In the society, ordinary people think that the blockchain is bitcoin, which is considered a gray thing.

In fact, in 2015, the blockchain was no shortage of believers, but at that time, even if the firm blockchain believers, I am afraid I can only imagine the prospects of blockchain technology in a few financial fields such as payment, transaction, settlement, etc. At that time, most entrepreneurial projects also revolved around these directions.

But today, in 2019, blockchain technology has begun to enter all aspects of society. In addition to the financial sector, there are applications in the supply chain, anti-counterfeiting, big data, artificial intelligence, etc., which is not available in the past. imagination.

Perhaps in the near future, blockchain technology will infiltrate all aspects of society. Everyone will take it for granted that this is an ordinary network technology, and forget that the blockchain industry has been questioned and gradually understood, and finally accepted. And the rough course that has passed.

Liao Xiang: Lightning Intelligent CEO, blockchain investor

I am currently mainly investing in projects. Most of the rest of my time is studying, learning skiing, Japanese, etc., adding some new knowledge and doing some precipitation.

In the winter of 2015, I spent a lot of time going overseas to do some exchanges and study with the local community, similar to study tour. I went to Iceland to visit the mines there, and went to Singapore, Amsterdam, the Netherlands and the United States.

At that time, it was in a bear market. In 2014, the price of the currency fell sharply, and it bottomed out in early 2015. 2015 is the big bear market of the whole industry. Many people have withdrawn. The iconic events include the running of the roast cat and the closure of the door-head ditch. At that time, the market was very bad. Many people did not do it. The change of the turn, the running of the road, all kinds of smoke disappeared. At that time, the concept of blockchain was not yet popular. Everyone was wondering if the banner of Bitcoin could not be smashed.

I have not transformed, I continue to work hard, I have done a mine in Sichuan, I have also done mines in Iceland, and I have strengthened exchanges with many overseas communities, participated in global conferences, such as expansion conferences, and also funded some Developers travel to China. Also invested in some non-blockchain industry items.

Both now and 2015 belong to the end of the bear market, and the industry is relatively sluggish. This is the same point.

The difference is that the whole market has expanded a lot, and the market capacity has increased by 20 or 30 times compared with 2015. At the same time, the number of users coming in, the number and quality of participating companies have been greatly improved, and the retailing of the retailers in 2015 has been This is a big change in the professionalization of the present.

I think if there is another bull market, there will be more professional institutions and professionals coming in, and the digital currency industry will gain even greater development.

My focus this year is to create some blockchain development projects, work with developers to complete the project's technical research and development, help them to connect local resources, promote and build communities. Together with Macau's professional exhibition company, it hosted an Asian Financial Technology Summit with the theme of financial technology (including blockchain) and local characteristics of Macao for exchange and integration.

Xiaoyao: The speculator, DAPP development, the general economic researcher

I was in contact with Bitcoin in 2013, mainly to move bricks. After the policy pressure at that time, BTC fell from 8,000 RMB to 2,700. At that time, I didn't have a deep understanding of the technical principles and influences. I think it is worrying about the end of the game with the government, and I gradually forgot about it in the bear market.

I don’t have a coin in the bear market, so I didn’t get it. In 2015, the market was bleak and I didn’t pay much attention to the currency. In 2015, the altcoin coins began to emerge, and most of them were completely worthless. They became the tools of large-scale speculation to harvest the leeks. I have had many years of stock market experience, so I see it very well.

At that time, the retail investors who participated in it had almost no knowledge of the virtual currency, and they were speculating with the idea of ​​getting rich overnight. Except for Bitcoin and Litecoin, other coins did not know the name and would buy it. It was crazy.

The deep memory is that Li Xiaolai claimed to have dug more than 10,000 BTCs. When he rose to 8000, Li Xiaolai was worth more than 100 million yuan. I think this is very unreal.

I am still involved in virtual currency and have tried to develop some Dapp apps. There is more research on the entire pass economic system.

In the current bear market, I am also paying attention to the development of the industry. While learning, I look for opportunities and participate in the blockchain industry through the landing project.

The biggest difference between now and 2015 is that there are many industry giants and middle-level technicians. The participation of elites in the traditional industry is no longer the only way to promote the development of the industry by technical geeks.

It can be expected that the blockchain industry will find a landing plan in many industries in the future, and the situation of blooming will surely come. In addition, the upstream and downstream of the industry, the ecology has gradually matured and prospered, the maturity of the industry chain is not comparable in 2015.

 

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Text: Yi Jun