At 21:00 on September 28th, Beijing time, CPCAC held the CPCAC Conference 02 Session at zoom.submitted by nodepacific to u/nodepacific [link] [comments]
CPCAC Conference 02 Session held successfully, opening a new chapter of the construction of CPChain multilingual community.
-The Speech Session of CPChain Global Community Managers
-The Speech Session of CPChain Co-founder and COO, Shi Qingwei
01 The Speech Session of CPChain Global Community Managers
Hello everyone, I am CPChain Korea Community Administrator Kim YoungA. CPChain Korean KaKao community was established in early September. After the establishment of the community, we have organized online AMA and community airdrop activities, and we have received positive responses from our community users. Now, the KaKao community has more than one thousand members.
KaKao is a Korean social software that is currently used in more than 200 countries and it supports 12 languages. The KaKao community users are very diversified and the users are also very active. In the following three months, we will promote our CPChain community through various publicity channels to make CPChain Korea community stronger. We hope that the number of community members will be 2 or 3 times more than it is now.
According to the statistics, there are more than 4.5 millions Korean people who are crypto-currency holders. One in ten Koreans has been exposed to crypto currency and there are more than 72% among them are young people. Meanwhile, the fourth Industrial Revolutionary Committee of Korea has mentioned blockchain in the report: In the next Internet development wave, blockchain technology is closely related to national security, and it is necessary to strive to develop the Korean blockchain industry.
Therefore, CPChain community promotion in Korea has great potential of development. The Korean community prefers off-site communication. In the future, we will organize off-site meet up event according to the time of CPChain listing in Korean mainstream exchanges and we will also cooperate with the mainstream media channels and Korean blockchain authorities and experts to discuss cooperation and to promote CPChain in order to expand CPChain’s popularity in the Korean market. In addition, we will learn from other projects in Korea to develop CPChain Korean KaKao community through multi-channels and in various forms.
Hello. My name is Hola, I am the African CPChain community manager and I'm from Nigeria. First of all, I am very grateful for CPChain team for giving African community a good opportunity. The community development is really fast and there are many crypto currency enthusiast, investors and partners who have joined the Africa community.
Currently we have 630 members in the CPChain Africa community and we will expand CPChain community in other Africa regions in the future. African countries are no strangers to the use of digital solutions as a way to transfer money, nor to the rapid implementations of blockchain technologies. Blockchain technology adoption has been increased in Africa, for example, some countries in Africa already have Bitcoin ATM machines, like South Africa, Kenya, Ghana and other countries.
CPChain is going to organize an event in Nigeria, we are looking forward to this event. Our prospective partners and investors are very pleased with the solution we proposed. I am quite confident that they will adopt and understand it easily. Again, I am very grateful that CPChain team has expanded their products to Africa. I believe that Africa companies and related organizations will welcome this technology.
Thank you very much!
I am Refik Yılmaz and I am the Turkish community manager. Being a part of the CPChain team makes me feel happy. If we analyze the general network traffic of crypto currency, we can see clearly that Turkey plays a major role in creating these traffics. At the same time, there is a Turkey exchange which has become a sponsor of a local football team and there is also a sport token which has established partnership with a local football team.
All these facts have given us a clear insight about the enthusiasm of Turkish people to crypto currency and Turkey people see it as a visionary project. CPChain has seen the enthusiasm of these people thus we create a community to provide information and support to them using local language. The efforts that CPChain has made to enter Turkey market has indicates that CPChain is a long-lasting trustworthy project.
Regarding to the community, instead of pumping it with passive members, we has made it an active group which is now expanding steadily with the growth of active users. We are confident to say that we are doing a good job.
In addition, there are many users who have helped us voluntarily to develop the CPChain community in Turkey, such as voting for binance dex or doing promotion activities on twitter. There are members who have joined CPChain for nearly one and a half year. Of course, there are still many other things that we can do for CPChain. So we will continue brainstorming with community members and we are open to collaborate with people from local society as well as the other communities. CPChain with its recent updates (CPCAC conference, partnerships and its IOT vision) has shown us that it is a promising project.
02 The Speech Session of CPChain Co-founder and COO, Shi Qingwei
Hello everyone, I am glad to join the community governance conference again. I am Shi Qingwei, the co-founder and the COO of CPChain. First of all, I would like to thank Node Pacific for the well-organized preparation. The second Community Governance Conference has been proceeded as scheduled. After listening to the speeches of our Turkish, Africa and Korea community managers, I am quite touched.
People say that consensus is a key part of blockchain. But what kinds of consensus is it? On the one hand, it is a technical consensus which is the basic for the decentralization of blockchain; on the other hand, it is an ecology consensus which shows community members’ understanding and recognition to the mission and vision of CPChain and it has become an important indicator for the construction of ecological viscosity and user loyalty.
Three community managers have shared with us respectively what their ideal local community is like, how to plan and organize activities and how to maximize positive brand exposure in local community. You can really feel their belief and passion for the project from their talks. I think it is from their recognition to the value and concept of CPChian. We are very appreciated of that. We will start to plan the next Market Entry strategy with these local communities after the National Day.
With today’s opportunity, I would like to talk with you guys about the next step of the Foundation in global community construction. Most of you have seen that many localized communities of CPChain have been built gradually. There are hundreds of fans in both Africa and Turkish communities and there are more than 1000 fans in Korea community. Although these are not large in scale, they are very active communities and they use their own languages.
It is an attempt by us to build up global communities. It is low-cost, more user-friendly and the communication cost is reduced because of the use of local languages. Currently, these communities have achieved pure organic growth in principle. Considering the present market environment, we haven’t planned much promotion activities to boost the user growth. We are glad to see high-quality communication activities in these communities.
In the view of the successful launch of Korea, Turkish and Africa communities, the Foundation hopes to accelerate the construction of other CPChain localized communities. Therefore, we would like to take this chance to invite CPChain eco users to join the global community development project with us. We will send the official mission victory link to the public after the National Day which is around the corner.
By the time you can tell us what kinds of community you can do and what resources you have. The Foundation will make assessment to the proposals accordingly. Once we have decided which markets we are going to enter, we will cooperate with the proposers and give them appropriate rewards. We are now considering to build Arabic and Russia communities. But of course you are welcome to share your ideas with us.
03 Free discussion
Q1: What will the official team do to support the construction of overseas communities?
CPChain Wayne: I would like to emphasize that we see CPChain as a participant of the construction of global community rather than the director. CPChain community is a decentralized community. Everyone is welcome to make contribution and everyone is also a part of the decision makers. We will give financial support to the overseas communities, such as bounty and candy rewards. We will launch our global community construction plan after the National Day. Proposers can show us what resources, what language and what kinds of promotion plan you are able to do in the proposal. We will invite qualified proposers to help building the community and to increase the popularity of CPChain in the local society. After the implementation of the CPChain Global Community Construction Plan, we will offer help and support to the community contributors. We are open to all kinds of ideas and we will select the good advice from them.
Q2 : What kinds of rewards CPChain will offer to the community contributors, such as proposer, resource provider?
CPChain Wayne: We will have online and offline rewards. For most of the overseas community builders, we will deliver online rewards at the very beginning, such as airdrop and candy rewards. Let me take Africa Community as an example, the Africa community has experienced an organic growth during the past three weeks and it has more than 600 members at the moment. When the scale of the community has reached to a certain level like Africa communiyu, we think it is a good timing for us to launch offline rewards, such as meetup activity. Everyone who has made contribution to the community, for example, people who share resources, introduce partners or make good translation, is qualified to be awarded. They deserve it. We wouldn’t be hesitant to give them rewards.
Q3 : What is the next step for the Africa community future development?
Hola: We are now planing to promote our community through social media, such as Lindedin, Twitter, Telegram and so on. We also plan to organize events to attract investors and partners. The Africa community is growing fast every day and it is an active community. I believe that the Africa community will have a solid development. We will have an event which is scheduled to held in December or January with the aim of increasing people knowledge of Blockchain and CPChain project.
Q4 : When will CPChain be listed on Binance? Or what exchanges CPChain is going to be listed?
CPChain Wayne: Currently, we are applying to be listed on the exchanges. Binance is one of our applications. We are also applying for two top-tier exchanges but we couldn’t tell their names yet. We hope we can have some good news after the National Day. Huobi and OKcoin are two excellent exchanges but CPChain is not ready to be listed on these two exchanges since it will cost a lot. We will put them in our backup choices. We hope to be listed on big exchanges like Binance through DEX.
Q5 : What are your motivations to start CPChain project?
CPChain Wayne: First of all, I want to clarify that I am not the founder of CPChain project. I am not qualified to take the credits. The founder of CPChain is Dr. Long who has great vision about it. He believes that Blockchain is the chosen technology and it can solve the problems caused by the centralized system. He started CPChain in 2018 when the Bitcoin is worth of $ 20,000. And it is also the peak moment of the development of Blockchain technology. People are passionate about it and regard it as the game-changing technology. After the ups and downs of the blockchain market, the power that keeps pushing us forward is our belief in the CPChain. One of the good things of our team is that we constantly learn from our mistakes. We have never neglected the power of our community and we really hope that we can rely on our community to do the ecology construction. Thank you!
More questions and details can be found in the video.
Node Pacific is the worldwide largest developer of the Staas public chaiN API, operating crowd-sourcing platform and Node operator.
The markets are in a major dip right now. HODL memes aside, we all know to buy the dip and sell the peak, and this dip has lined up perfectly with a low-cap token that, as long as the crypto market grows, will continue to grow as well.
First, about me: I’ve been deployed for the past few months, and with the wars winding down, I’ve had a lot of free time to follow the scene. I am by no means a crypto expert—I’ve just bought and held, and my portfolio has gone up 600% since I started in August 2017—but the key takeaway is that I’ve learned when to buy. RaiBlocks at $2.00, COSS at $0.20, Enjin at $0.15, and 15 others. There are a few things I look for when it comes to timing:
I’m going to cover all of these on why Bounty0x is the best buy right now, especially during the current dip (a dip that we will most definitely break out of in the near future).
- Product potential
- Road Map
- Exchange Listings
- Current Market Cap
- Time in market
- Historical price trends
- Competitor’s performance
- Social Media/Marketing presence
1. Product Potential
Bounty0x is a decentralized bounty hunting network that utilizes its own token. They have an alpha product here where you can list a software bug bounty, or a social media bounty, or whatever kind of freelance task you want. There were a few issues I had with it before I wanted to invest, but the community clarified them for me:
From a timing perspective, the fact that they already have a working product while in alpha tells me that when it's in beta or fully released, it's going to be even bigger--and it’s already paying out real world bounties. Given their niche market, and the lack of competitors, I'm more than confident that there will continue to be a growing demand for Bounty0x. And we all know that, especially in the crypto world, early adopters are rewarded.
- You can get paid in any currency (fiat, Monero, Ethereum, Raiblocks, whatever). The BNTY token is not the only payment option.
- What’s the token for, then? We all know that the price depends on supply and demand, so what’s creating the demand? Well, it’s used as a staking mechanism to keep participants honest because you have to “stake” some BNTY tokens to participate.
- It incentivizes quality bounty requests, because if your bounty post gets rejected for being against the guidelines, a portion of the BNTY tokens you submitted gets burned. This encourages people to only post high quality, fully fleshed out requests.
- It is used by “bounty hunters” (freelancers) to participate in super bounties (super bounties are tasks that are usually subjective and/or highly technical). If the bounty hunter’s submission is rejected (for example, if they claim a typo in a third-party code comment is a bug <- you guys should definitely read that one), then a portion of their BNTY tokens are burned. This encourages bounty hunters/freelancers to only submit legitimate solutions.
- It is used by the sheriffs (yeah I know, cheesy name, they’re basically the moderators) to participate in determining whether a bounty has been performed correctly—if they are the lone dissenter in the group of sheriffs (right now, it requires a majority decision with at least three sheriffs) then a portion of their BNTY tokens are burned.
From a timing perspective, this is an unusual opportunity, because even though it’s “the long game,” they already have a working product right now, which is a rare thing for a crypto token. So being an early adopter right now pays off both in the short term and long term. I'd also expect there to be incremental jumps every quarter with every update.
- Feb 2018: Integrating with social media and redesigning the platform. What makes this unique is that they’re getting live feedback from the alpha version of their product, which is a whole lot more than what most tokens can say. It’s a very good sign that they’re taking their time, learning their lessons, and not releasing a bug-filled final product.
- Mar 2018: Complete automated payment distribution.
- 2018 Q2: Launching the Beta product, and the staking mechanism that defines the BNTY token. Sheriffs will actually be able to earn Bounty0x too, as payment for good conduct.
- 2018 Q3 and Q4: Incorporate machine learning to further smooth out the product, support external modules/plugins, initiate a buy back program (the buy back program ensures that the price does not fall below a certain limit), and finalize the Bounty0x network.
- 2019 and beyond: Release the mobile apps, and enable crosschain support.
3. Exchange Listings
It’s not on very many exchanges, and KuCoin is really the best option (and EtherDelta if you so wish). What does that mean? Just like with RaiBlocks three weeks ago, the limited exchange options artificially limits the demand, thus artificially keeping the price low. Right now, the next exchange could be Bit-Z, with a $400 million daily trading volume (compared to KuCoin's $340 million).
From a timing perspective, you absolutely have to get in before it comes to the masses (à la Binance, et. al.). All one has to do is look at Raiblocks' history over the past few weeks to know how important this is.
4. Current Market Cap
Currently at $78,135,634 which ranks 233 on Coinmarketcap. I don't look at this as "it's undervalued," because it's a little difficult to guess what its actual value is due to lack of competitors. Instead, I see this more as a testament to its potential--meaning, it's growth is far from over, and whatever its end valuation will be will certainly be much higher than #233.
From a timing perspective, you want to get in on coins before they break the top 100. It isn't too late if you do, but you're set to be in a better position if you buy in while it's still a small cap.
5. Time in Market
It's been out for two weeks. It's already been used for a redditor's webstore on this sub, but it's also just starting to get featured in mainstream articles.
From a timing perspective, you want to get in before people start paying attention. Did you see how quickly it was used just from a reddit post? This isn't just speculation. How much longer until it reaches /all?
6. Historical Price Trends
Past performance is not an indicator of future performance. Every investor knows this. But we can also take a look at other cryptos to dispel certain myths. For instance, when Bounty0x was released, it traded for $0.10 and it's now at ~$0.70--that's a growth of 700%! Many people see that percent change and think that they missed the boat. But I'd argue the opposite--that the boat is still taking on passengers, especially when you look at its short time in market and its small market cap.
For example, DragonChain grew by 400% in its first two weeks! You may have thought you missed the boat on that too, but had you bought in at the peak of that growth, you'd have seen 650% gain just a few weeks later. The point is, seeing how much it's grown in the past two weeks is not an indication that it will keep growing at its current rate, but it is also not a reason to think it's done growing.
From a timing perspective, you never want to buy at the all time high. Bounty0x is currently down 20% from its ATH, meaning this is the time you want to buy.
7. Competitor’s Performance
As far as I know, it has no competitors. Maybe Fiverr, but they don't use crypto. It's on a bull run all by itself, just like Bitcoin was back in the day.
8. Social Media/Marketing Presence
Bounty0x has been leveraged to find the EtherDelta hacker, which is still an open case. Bounty0x has partnered up with SwissBorg, a Swiss crypto investment platform (and it's not just for a one-time bounty). See this very insightful post on uses outside of software bug bounties with respect to social media. It's only a matter of time before one of the big bounties gets fulfilled and publicized. Once that happens (say, the EtherDelta hacker was caught, and Bounty0x was utilized)--that's when the boat will have finally left.
From a timing perspective, you want to get in before it reaches that critical mass on social media. You want to get in before your hairdresser starts talking about it.
As much as I'm excited about Bounty0x, I do have a few concerns. One, their team is super young and inexperienced. That's not really easy to objectively quantify, sinc...
Teamstephen corliss, [19.10.17 21:07] Team Bitquence, Who Are They? Collectively, the team has over 150 years of professional experience, lead by a leader who has accomplished more in 19 years than many people will over their entire careers. This team has the skills and gumption to deliver what it promises. These simple facts should be enough to stop anyone from spreading FUD that anything here is a scam. If it is not, let me say this, I carry securities licenses that are overseen by government regulators and I also founded a regulated investment business that is still active. If I, or anyone as part of this team, were involved in anything devious, the Feds would be at my door with handcuffs. Would I or anyone of us really be this stupid? I can’t wait to remove all these irresponsible pinheads from this industry who care only about themselves rather than society. In the world I desire, there is absolutely NO room for greed anymore where society suffers at the hands of a few!
Communitystephen corliss, [28.10.17 14:21] All, As the public opinion debate about Bitquence is beginning to ramp up I wanted to take a moment to share some thoughts. Openness and transparency are one of the several reasons I decided to enter crypto several years ago. This may seem strange coming from someone with my background but in my opinion, the traditional approach of hiding behind the corporate veil is cowardly and toxic. So, for any firm in this space, both it and its supporters must embrace diverse opinions and have an intelligent and open dialogue with those that disagree with our opinions. Lets not embrace the culture that exists in our global politics where those with different opinions are tarred and feathered but rather choose to behave like adults to set the example for our youth. Crypto is not about being closed minded but rather quite the opposite. So, when we are challenged lets not scream the loudest and attack but rather choose to engage those having different opinions in an open intelligent dialogue. Lets ask the tough questions of ourselves and others. If someone has an opinion, lets discover what informs that opinion by demanding openness and transparency about the facts that matter when sharing that opinion such as someone’s background or the analysis, facts and details that support it. As you all know, Shingo and I are here everyday to answer all of your questions, whether easy or difficult. This is a conscious decision on our part because of two main reasons, first because leaders in our industry should not cowardly sit behind the corporate veil like our traditional corporate counterparts and secondly, because we are building a global community that desires a financial system that works for society rather than against it. Lets embrace diversity of opinion as we are a diverse community from all walks of life who understand that differences should be embraced rather than pushed aside. I will be here everyday no matter how big or busy things become at Bitquence. Not because I have to but rather because I want to. I’m not afraid to be challenged and neither should any of you as this is the only way to get to the best result. I love this community so lets do everything we can to maintain a culture of openness that embraces our differences to discover the best answers. Change is coming!
Competitionstephen corliss, [28.09.17 14:57] If you can find me just 1 single competitor who can do what we plan and do it in a way where they won't violate laws and can service every jurisdiction, let me know. I don't see anyone thinking about this the way we do. Remember, first may be okay initially but if your model isn't sustainable and insulated from all the changes to laws and regs that are forthcoming, then it won't matter as you will be out of business. Working smarter and with speed and precision is always better in my book. I don't think the complexity of what we are doing and the space we're doing it in is always apparent. You can't just build something, especially in finserv, without knowing first where all the minefields are, as many have tried before and have since departed with many others to follow. Don't get me wrong, I don't wish this on anyone but if you don't plan appropriately, there really isn't an excuse. If we are sustainable, everyone wins. The team has basically doubled in a week, so the train is rolling at a high rate of speed to deliver not only an innovative model but also "several" innovative tech solutions.
POSstephen corliss, [13.09.17 13:54] POS is rebranded to Bitquence Predictions as POS implies other things, although we share numerous simiilarities
MarketingShingo, [19.10.17 19:27] I want to clarify what we mean by marketing. What we will NOT be doing is buying ads, spending on search/video/interstitial etc. What we ARE doing is putting effort into nurturing our community and increasing our earned traffic. This means upgrading the brand, creating a PR plan, scheduling releases etc. Once we launch the product, we will begin to buy ads and push the marketing pedal. I believe that this is the right strategy and will help to develop this community organically
If you happened to read my previous post, you would know WeChat group chats plays a phenomenal role to connect the Chinese crypto circle. The night of July 12th, a unique interview took place in one of those WeChat groups. You may even say the first of its kind.submitted by ox3tv to u/ox3tv [link] [comments]
On the one end is my friend Matthew Roszak, co-founder and chairman of Bloq; on the other, there are 499 women--all of them blockchain entrepreneurs and journalists from different parts of China.
I worked as the host of the event. Questions were collected from all members in advance. During the next hour and half, we discussed with Matt his experience as an investor, his insights on the future of blockchain, and the launch of his latest project, Metronome.
Here is the complete interview. I have tried to keep it as close to the chat history as possible, though minor tweaks were made for easier reading. Enjoy!
Matt: So cool to be here -- and talk about my favorite subject in the world :-)
Bianca: It is my favorite subject as well and glad to do this with one of my favorite people in this field.
Matt: I am so thrilled you asked me to be a part of this special chat -- ever since you produced that blockchain documentary, your star has been rising higher and higher -- congrats Bianca! I see so many amazing women entrepreneurs on this channel -- super impressive!
Bianca: Many incoming questions. We have selected a few. First of all: You’re an experienced blockchain investor. How did you start investing in cryptocurrency? By contrast, what’s your view on the future of Wall Street?
Matt: When I started out I was so inspired by bitcoin -- it was a true innovation, an invention (on the scale of a Nobel prize for Satoshi) and became a social movement.
I initially invested in bitcoin, then invested in over 20 companies in the blockchain space -- bridges, roads and tunnels -- think wallets, exchanges, miners, payment processors, software layers, etc. -- that helped me create a mental roadmap on this space back in 2012/2013. More importantly, I met some of the most amazing entrepreneurs in this ecosystem -- folks like CZ at Binance, Ted at Xapo, Charlie at Litecoin, Bobby at BTCC and even my co-founder Jeff Garzik.
My co-founder Jeff is a rare bird -- he worked on the Linix kernel with Linus Torvalds (creator of Linux) -- and worked on the Bitcoin kernel with Satoshi -- these are two of the most important open source projects in history -- so grateful to have him on my team and as my dear friend…
I hosted dinners in every city I traveled to -- about 20-40 people -- that helped me build great relationships and guide my thesis in this space.
I thought Wall Street/institutional investors would have been in crypto more substantially by now -- there is very little institutional money in our space -- the infrastructure to accommodate them, namely custody platforms, is being built however not in the format nor risk tolerance they are comfortable with -- that will change and we will see a lot of money flowing in by the end of this year with 2019 being a breakout year for institutional adoption.
Bianca: You participated in the first ICOs. What are the lessons you learned from those experiences?
Matt: I originally was a bitcoin maximalist -- I was lucky to change that thinking as it would have made me miss other networks like Ethereum, Qtum EOS and many others -- this space is a movie, and not a static picture -- the innovation is rapidly developing and it creates unprecedented opportunities for entrepreneurs and investors.
Another key point is that I am an investor, and not a trader -- so I buy and hold for the most part -- and that discipline has served me well.
Bianca: Compared to bitcoin or ETH, what are some innovations of Metronome?
Matt: From a tech standpoint, Metronome (MET) is an autonomous network -- meaning there is no author or founder influence or control on the code since its launch -- autonomous networks will be some of the most powerful and valuable networks in all of crypto -- they are also very hard to build as we saw first hand with the DAO, which broke ETH in half -- that project was way different, very complicated and poorly built, hence it's fate -- but getting autonomous networks right is in many ways a key part of this decentralized future we are all building and investing in.
The other key tech component is that MET is the world's first cross-chain crypto -- meaning MET is born on Ethereum but will be able to move to any other EVM (Ethereum Virtual Machine) -- think ETC, QTUM, RSK/BTC, etc. -- like a boxcar on a railroad that you can move to another track -- this creates a new dimension and relationship between the user and MET where you self govern where your MET resides -- we even called our whitepaper an Owner's Manual :-)
I do not think people will be moving their MET around from track to track, but from a longevity and durability standpoint -- it has staying power even if ETH or any other underlying rail goes away in the future (as you can move it).
So we created MET as an expression of many years of watching the crypto space and believed there was room for more innovation.
The other thing that I am proud of is that the proceeds from the auction didn't go to a foundation or a company, they went into code (a smart contract) -- and all that smart contract does is provide liquidity and price support to the MET community through a decentralized exchanger -- all engineered for the benefit of the MET users/community.
Bianca: Talking about the auction, Metronome used the descending price model during Initial Supply. Did you observe a lower auction price (for instance, due to buyers using bots to do last-minute biddings), thus bringing fewer funds to the pool than you had expected?
Matt: The auction raised about $12MM USD in proceeds during the most difficult week in crypto in 7 months -- we are very proud of the fact that the network launched, the system works, and there were no security issues -- the future is incredibly bright for Metronome!
Most other projects raise money and launch several years out -- MET was made alive at launch! -- again, very difficult to build and create these systems -- I am so proud of the team!
Bianca: What are the differences between working at private equity and crypto investment? How do you normally evaluate a blockchain project?
Matt: OMG sooooo different -- private equity (and even traditional venture) and crypto are two different planets.
The common denominator in how you approach people in PE or VC or crypto is people -- you always back people -- no whitepaper or product roadmap is going to build themselves.
We are in the early days, so great people are raising lots of money with just a whitepaper -- pretty soon the bar will be raised to ensure projects have a working product/protocol -- the bar will raised even further to have users and utility and metrics on that network.
With the total crypto market cap of $250 billion, we are still in the stone ages for crypto -- we have a lot of building and adoption ahead of us -- feels like early Internet or early mobile days -- big fun ahead!
Bianca: Vitalik just commented “I definitely hope centralized exchanges go burn in hell.” What’s your take on centralized exchanges such as Bitfinex, Binance, and Fcoin?
Matt: Oh boy, good question -- well I think we are watching the evolution of all of this -- we need certain infrastructure to get from A to B in crypto adoption -- even centralized exchanges and wallets -- they are not for everybody but serve an important purpose and address a market need for folks that have no clue how to manage private keys.
In the exchange space I love watching innovators like CZ and team at Binance -- they created an incredible platform, with a tokenized model that many are trying to emulate -- imitation is the greatest form of flattery ;-) they also have a strategy on how to construct a decentralized exchange.
So if you are not innovating and looking to decentralize, your business model may be at risk in the future -- however decentralized applications like this are hard to build and rely on infrastructure and tech that has not been built or not ready for prime time -- decentralization is a journey.
Bianca: Many governments are tightening on crypto regulations. Where do you think the government policy on crypto can go?
Matt: Historically technology innovation has always outpaced regulations -- we are seeing that play out big time in crypto.
I am inspired by what Singapore, Switzerland, Malta, Barbados and other countries are doing to attract projects and innovation to their boards in our industry.
Lots of jurisdictional arbitrage is playing out -- countries smell the crypto ;-) and want to bring jobs, innovation and investment to their borders.
This happened before with online gaming, hedge funds, etc. -- however with crypto, these networks can be trillion dollar blood vessels of value.
Bianca: Given the current market situation, what suggestions do you have for investors, entrepreneurs, and service providers?
Matt: Never has a technology frontier like crypto had the potential to impact power centers like Wall Street and Silicon Valley -- that is and will continue to be tested with crypto.
MONEY = POWER (old adage)
MONEY = TECHNOLOGY (with crypto)
TECHNOLOGY = POWER (new adage)
Bianca: Any story you can share when you sent bitcoins to Clinton and Branson? What were their attitudes towards crypto and blockchain?
Matt: Several years back bitcoin was so abstract to people outside of our industry -- I used to always keep a physical bitcoin on me to use as a conversation starter -- I love the Kialara physical bitcoins -- they are works of art and exposes a cool reaction when I give them to people -- the physicality always helps in a discussion over dinner or a drink -- gives tangible to the intangible ;-)
I was fortunate to meet some great people and try to open their minds to this new technology frontier -- I gave bitcoin to: Richard Branson, Bill Clinton, Steve Wozniak, Robin Wright and many more -- Branson is an inspiration for me in how he conducts business and gives so much back to society and the environment.
Bianca: Last question from the group member: do you think the market value of many digital coins will return to zero?
Matt: My sense is that about 90%+ will go to zero -- I think BTC and ETH will continue to do very well as they are the two "gateway cryptos" for new money (institutions) coming into this ecosystem -- that logic will spread to the top 10-20 large and mid-cap cryptos -- speculative network effects will kick in -- we are still in the investment and speculative phase crypto (like it or not) -- once there is real utility, transactions and throughput, we will see which networks wil remain for the long haul -- the potential here is tens of trillions of value -- we have a long way to go…
Bianca: Before you go, would you like to share your feelings today? Do you have any other words for the ladies in the 499 WeChat Group? :)
Matt: Once more, I am so honored to spend time with you all -- super impressed by the women in this group -- this is the best time to build, invest and be a part of one of the most important societal shifts in history!
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