change! New hotspots in blockchain investment allow traditional investors to take the initiative to “think” and grasp future investment trends

The huge potential of blockchain technology in recent years has attracted the influx of various investors and funds, including not only indigenous investment funds in the blockchain field, such as newly created blockchain investment funds, cryptocurrency investments. Funds, etc., also include the layout of traditional investment institutions.

On September 18th, the “Fifth Blockchain Global Summit” hosted by Wanxiang Blockchain Lab entered the final day. At this morning's "New Hotspot: Future Investment Trends" roundtable forum, representatives from investment institutions and funds from the traditional investment field will influence the blockchain industry's influence on traditional investment forces, future blockchain investment hotspots, and what kind of The blockchain project is easier to get investment and has a conversation.


The following is the content of the round table compiled by Babbitt (with a slight change without changing the original intention):

Qi Ziping, founding partner of Qiming Ventures

Samsung NEXT Ventures Director Patrick Chang

Min-Q Kim, Executive Director, Korea Investment Partners

Union Square Ventures Partner Nick Grossman

Distributed Capital Partner Remington ONG

What are the new challenges for traditional investors in the emerging blockchain industry?

Nick Grossman: Changing investment methods and strategies Min-Q Kim: Very careful 邝子平: I have been hesitating, have concerns, but optimistic Patrick Chang: I have confidence in the blockchain investment, the blockchain is consistent with Samsung's DNA

Nick Grossman : Such an industry may change investment methods and investment strategies.

What is being done now is to change the method. When investing in cryptocurrency, the cryptocurrency will be endorsed first, which has never been done before. Another big change is the encryption project, the new startup has an early product, and it will be traded in the global market. There are still certain risks for investors and projects. If the project is successful, it must be integrated with the entire ecosystem. Therefore, as an investor, it is necessary to adjust the investment strategy and at the same time, as an investor needs to play a more active role in the market, Not to say like traditional investment methods.

We are now building hedge funds and other funds. The risk fund business model is more flexible. On the other hand, we have seen encrypted hedge funds, which are still at an early stage, so they combine these two business models.

Min-Q Kim: In the past, we were investing in government-related areas, such as pensions. So the blockchain field is an area without supervision and must be very careful .

Last year we very much wanted to participate in Telegram, because they invested in coins in the early days, and we know very well that this platform is attractive. Telegram's currency valuation may be higher than Telegram, which is also based on peer perception. In other words, the company's valuation may reach 1 billion. Indeed, we very much hope to invest in Telegram, but we have no way to do it because of the bank's regulatory system.

Zhai Ziping : In our view, the regulatory constraints on investment are good . We have been hesitating and have some concerns . Some people mentioned that there are no practical cases or application scenarios for the earlier blockchain projects. I discussed the web page Web3.0 yesterday and I was very inspired. Need to have some ideas, so that there is a good judgment, what can the blockchain bring?

We only invest in China, so do Chinese consumers and Chinese companies feel that the blockchain is solving problems, improving efficiency, and providing other services? We are very optimistic about the blockchain in China, although we have not yet participated in it.

Of course, there are some regulatory obstacles at present, but the biggest obstacle is whether there are convincing and very convincing application scenarios that will occur. Especially when issuing tokens.

But technology is now being used more and more widely. For example, in the supply chain, borrowing, people can use their property rights as collateral to obtain loans .

Although the theory hopes to decentralize, the problem is that the People's Bank of China is now interfering, and as a regulatory agency, it is a powerful force for traditional VCs. So we are very optimistic .

Consumers also want to know which projects use blockchain to increase consumers' willingness to use products, because awareness of privacy and so on is weak in China and is usually not a big driver of the project. Supervision is definitely a problem, but it is not the biggest problem. It is mainly back to business reasons. Traditional investors have experienced the Internet bubble, so it requires a certain degree of discipline to ensure that not only the hype, but also the project itself. The reason for existence.

Patrick Chang : The main reason for the blockchain is whether we can change the world. We are still very confident as an investment fund .

Many applications in the blockchain will be of great benefit to Samsung. It took us a long time to integrate Samsung's wallet and Key Store into the device. Now some devices have integrated the blockchain wallet. We I hope it will become a product that consumers use every day.

There are other applications on top of this that are useful to us. For Samsung, I hope to distinguish it from Google, Apple, and Facebook. I don’t want to save user data. I want to build a decentralized and market-oriented ecosystem, so that end users have the most rights, so the blockchain and our philosophy. It is the same .

We don't just make money by selling equipment. Next, you have your data, your own identity, and other possibilities. In fact, Samsung is considering many opportunities. Of course, there is no way to tell everyone, but we are all very excited and excited, because the blockchain and Samsung's philosophy and DNA are the same .

Under the impact of blockchain, VC began to think

Nick Grossman : There are new technologies and new skills to reproduce. Of course, this is one of VC's traditional work. For example, we will participate in the board of directors, but now we have another meaning to ensure the security of assets, whether it is bitcoin or not. Ethereum, the system of managing assets is the foundation of value. So every time a new system is launched, it will always focus on the governance mechanism. There has always been a conflict between hard security and adaptive adaptability, so I think there will be a variety of digital assets with different security models, capabilities, and governance mechanisms. Investors need to be involved to some extent. In the past, we were only a minority on the board of directors, and we will continue to do so regardless of which community we participate in.

Patrick Chang : The early VC role did change. One thing that hasn't changed is to be a long-term patient partner, because cryptocurrencies will soon have liquidity problems. So investors must work with the community to provide them with long-term support, which is a very important role for VC.

Min-Q Kim: Not only in the investment world, the roles of encryption and currency are ambiguous. It is true that some big funds allocate small funds to different fields, such as mobile, medical, etc., so we can help each other. They are faster, more professional, and the network is better, so you can invest first, seed round, round A, Then you can invest and work together.

What kind of sparks will the blockchain + other emerging technologies produce?

Zhai Ziping : Technology integration is very important. We spent a lot of time analyzing the application of edge AI, edge technology and AI in finance, so we made a few investments and the effect is very good. In the process of communicating with entrepreneurs, we find that the blockchain is often mentioned as an element of innovation, so the financial industry is becoming more and more digital, and more and more assets are being digitized. So the role played by the blockchain has changed, for example, the role of promoting financial transactions has certainly become more and more important.

China already has very good blockchain investment opportunities, and not only technology is converging, but also regulatory technology is also integrated, so we are very excited, we are constantly looking for.

Looking ahead, what technologies can make investors excited?

Nick Grossman: The most exciting thing is not decentralization, nor money, but assets, assets of integrity. The most important thing is to have digital assets that we can trust, so that we can transfer. Our goal is to bring more and more integrity assets into the ecosystem.

Min-Q Kim: I am very excited this year because there are many platforms to launch, and large exchanges have also launched the Dapp platform. Just like the App Store in the mobile era, this will promote more services and use cases for consumers. In fact, this is a very important driver to drive the massive landing of more use cases, and I am very excited about the integrity of assets and the platform to drive use cases.

Patrick Chang : What the blockchain can do is bring us a new business model, a new concept, which we have never thought of now, just like the Internet age, who knows that you can buy things online? Who knows what the online world was like at the time? So the blockchain can bring us a new pattern, the same as the Internet, which is what makes me excited.

Zhai Ziping: I agree with the new business landscape, which we have never seen before. In particular, blockchain and privacy computing can interact and be applied in the B2C world so that consumers can use data to do more. thing.