The East and the West have been two worlds since ancient times, even today in globalization. Compared to the past, the cost of communication between online and offline has dropped dramatically. If you want to know the world outside, you can always find a way. But the people who do this are minority, most people still play with their own people, and the world of encryption is no exception. Asia and Europe and America are almost two worlds. I wrote an article before the Orange Book: Why is China's blockchain so different from the West ?
This time we change the angle.
The author, Arjun Balaji, is a founding partner of Shomei Capital. He is active on twitter and medium and belongs to people who have their own investment systems and are willing to open up for discussion. This article was released three weeks ago, and what happened in the past has now been interesting:)
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This week I participated in the cryptocurrency Token2049 held in Hong Kong. Like other industry events, what is more interesting than the group meeting is the private communication outside the meeting. I also have the opportunity to use this opportunity to communicate with many public chain project leaders, head exchange executives, and investors with different preferences. .
Although many are gossip news, there are many interesting situations that can be seen from this. It is particularly noteworthy that there is a different understanding of the future development of cryptocurrencies and ecological construction. Here is my observation.
About market sentiment
In the past, the week of Token2049 during the bull market was as crazy as alcohol. I myself, I used to drink about $100-150 worth of money sponsored by the TRON project during Justin Sun's exclusive penthouse party and other events.
As the market is now becoming more active, the current market sentiment seems to be no different from the most ardent time in the fourth quarter of 2017, even if it is difficult to tell the difference between the time and space that can be crossed back to the bull market. Now you don't need to pay special attention, you can hear people around you talk about various projects. These lively scenes strongly stimulate everyone's new investment enthusiasm and herd mentality, and investors also try to get hot investment opportunities. The ICO in 2017 drove the big bull market, and the current market heat seems to be caused by the launch of the Binance launchpad. The event attracted a large number of crazy fans, and the only thing they were interested in was the development of the project. Or to be more precise, I want to know when to come to a big bull market!
Even more exaggerated is that anyone who has the idea of "unless the garbage project is eliminated from the market, or the bear market will not end" will be laughed at by many people.
The ideal of Asian cryptocurrency builders
More than ever, no matter what your views on the future of cryptocurrencies or whether you are an early holder of such assets as Bitcoin or Ethereum, such issues are currently The Asian region is no longer the focus of attention. In Asia, the enthusiasm of some small project teams with just a dozen people does not lose the same size of the US team. American cryptocurrency enthusiasts generally hold a pessimistic view of the future, saying that “cryptocurrency is like insurance”, and dozens of Asian teams I talked to are generally optimistic about the future.
In addition, in many respects, there is a difference between the real focus and the spiritual level: when some of the North American and European teams I know are still focusing on the benefits of decentralization, the Asian team’s focus is How to move everything to the emerging blockchain. Although I have my own opinion on the feasibility or logic behind this, I am now more convinced that it is possible to have some form of "decentralization of anything" in the future, at least in certain areas, pure dependence. The strong push of the Asian team is still achievable.
What are the East and West teams building?
Compared with Western teams, Asian teams are working harder to create new basic public chains or to make improvements to existing ones. This also makes me think that most of the early veteran projects have many first-mover advantages, but they may not continue to maintain such advantages, such as Bitcoin, Ethereum, EOS and TRON. I expect that most teams will strengthen their investment in this area in the unreleased infrastructure chain projects. In addition: It is said that Asia is much more open to non-traditional businesses than the West. For example, from the exchange's innovation in the currency model to focusing on acquiring different users, various projects are numerous.
I was promoted to dozens of different projects based on real-life applications, such as messaging and playing games. The game is a popular category that includes role-playing games and simple gambling products.
Prospects for the development of Eastern and Western cryptocurrencies
Although Asian teams are likely to compete with Western counterparts, it is becoming increasingly clear that the Asian cryptocurrency ecosystem can evolve entirely independently of the West. Currently, projects and entrepreneurs in Asia are developing in a highly collaborative manner in the local ecosystem.
For entrepreneurs interested in cryptocurrency development across protocols and applications, application layer development focused on Asia may become more important, especially in the case of breakthrough applications. In Asia, although the founders of the public chain have generally tried the same approach (such as opening a foundation and establishing an “ecosystem fund”), entrepreneurs seem to be breaking this model, marketing through capital pulls, while Use more aggressive strategies to engage developers into the project. In this way, the East may get support earlier in the application development project than in the West.
Author: Arjun Balaji