We ask builders within the blockchain and cryptocurrency house for his or her ideas on the business...and throw in some random zingers to maintain them on their toes!
This week, our 6 questions go to Tongtong Bee, co-founder of Panony - an incubator, investor and advisor for blockchain and Web3 companies.
I am Tongtong Bee, co-founder of Panony and Founder and Editor-in-Chief of PANews. I began my profession as a journalist at China's conventional information businesses, together with China Information Service, Jiemian and Cailian Media Group. Since 2015, I've been overlaying blockchain and fintech information as one of many few journalists in China who then centered on these sectors.
My deal with financial points and new applied sciences led to my being chosen to report on the 2018 "Two Periods" (NPC and CPPCC). And that was the 12 months my enterprise associate Alyssa and I began PANews. We've got printed over 20,000 articles averaging over 5 million web page views per thirty days, develop into a extremely cited supply in crypto and blockchain journalism together with Forbes, Caixin, CCN, and we're an official information supply of Tencent Information.
1 – If you happen to take a look at the highest 100 tasks in crypto by market cap, which of them stand out to you – and for what purpose?
I've to say bitcoin. As a journalist inquisitive about economics, I used to be overwhelmed after I first heard about his idea.
Bitcoin is alleged to be a significant step ahead in getting cash safer, in addition to a major deterrent in opposition to many forms of monetary crime. It's the first decentralized peer-to-peer cost community run by its customers with none central authority. Bitcoin has now modified the world and can proceed to revolutionize monetary programs in lots of international locations. It stays the inventive end in all its current and limitless future makes use of.
2 – What's the most revolutionary blockchain use case you could have ever seen? It might not be the one most certainly to succeed!
As a part of Panony and PANews, we're all the time excited to fulfill and collaborate with lots of of sensible, revolutionary tasks worldwide. For instance, I'm personally intrigued by what they're doing at Cudos, a decentralized cloud computing platform. We all know the cloud is dear and centralized. Moreover, the {hardware} is idle or powered off as much as 50% of the time, leading to a low return on funding for companies and an enormous carbon footprint. Due to this fact, the present growth path for the planet is just not sustainable.
The Cudos community, utilizing its blockchain-powered cloud-based distributed computing method, allows firms to avoid wasting as much as 10x greater than centralized hyper-scale cloud platforms and {hardware} house owners to offset the price of their {hardware} (and probably profit from it). lease their computing energy to the community.
The blockchain business will be exuberant. I'm glad that there are various skills constructing a greater future collectively.
3 — What does decentralization imply to you and why is it necessary?
Good query. The decentralized net is the unstoppable way forward for the web.
Within the present model of the Web, often known as Web2, individuals can not overlook the outcomes of huge firms' management over the Web: private information being tracked and offered with out our permission, lack of energy for our content material, dominance of promoting... A lot of the Web is centralized. Web3, which is making an attempt to essentially rethink the way in which we design and work together with apps from the bottom up, will repair many of those issues. There are some basic variations between Web2 and Web3, however decentralization is the main target.
The Ethereum community is at present the biggest decentralized community with entry to 1000's of decentralized purposes. With the deal with digital possession, the incomes potential for content material creators and the invention of recent funding alternatives has elevated. And on a decentralized net, people can management their information, not some mega-corporate or anybody else.
4 - Record your favourite sports activities groups and select probably the most memorable second whenever you watch them. If you happen to're not a sports activities fan, decide a number of films and a second!
Being an avid winter sports activities fanatic myself, my reminiscences of the Beijing 2022 Olympic Video games are nonetheless recent! Eileen Gu, who wins two gold medals and a silver medal in a single recreation, is actually a freeski sensation. Not solely watching her lovely actions is gorgeous; I additionally admire her fixed efforts to encourage ladies. I am additionally honored to have made it to the Forbes China 30 Beneath 30 in 2020 along with her (totally different checklist)!
As an entrepreneur, I love her spirit of sticking to targets, difficult the established order, pursuing desires with ardour and fixed laborious work. It empowered me when my enterprise associate Alyssa and I began our firm collectively.
5 — If you happen to did not want sleep, what would you do with the additional time?
I actually want I did not must sleep so I may do extra issues that curiosity me. I'd most likely learn extra books as a result of I all the time discover it fascinating to be taught one thing new. In the course of the two-month lockdown in Shanghai, I've outgrown the behavior of coaching badminton indoors and can proceed to take action, correctly open air.
I'm very grateful that my husband and I share many hobbies and certainly one of them is writing a ebook collectively on promoting in Shanghai. We're additionally very inquisitive about making documentaries for Chinese language people artists and hope the world can see them in the future.
6 – What does the way forward for social media seem like?
We envision the way forward for social media belonging to content material creators and communities — not particular platforms that management the narratives. That brings us Web3. Decentralization may very well be the blueprint for the way forward for social media: customers may have direct entry to the decentralized platform; no centralized authority can dictate the principles for engagement and monetization; Social media is turning into a freer house, granting content material creators full possession of their property.
Decentralized Autonomous Organizations (DAO) are a novel avenue for on-line social group that may have far-reaching implications. Traits of DAOs are more likely to have an unlimited influence on the social media enterprise. Blockchain tokens have the potential to vary this association, permitting creators to monetize their followers utilizing lots of the similar strategies DAOs use to reward their members for contributions.
We've got seen consumer appeals that Twitter could have the potential to shift energy and be reworked right into a Web3 platform. We're additionally grateful that a number of the tasks, together with Only one and Rally, have devoted themselves to reworking social platforms and rebuilding the social and creator economic system.
A want to the younger, up-and-coming blockchain group:
Our group wants extra builders with heat hearts and funky heads. Much less FOMO, extra persistence. And confusion is sweet: it makes individuals consider themselves.
