We ask the buidlers within the blockchain and cryptocurrency sector for his or her ideas on the trade… and throw in a couple of 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 adviser for blockchain and Web3 enterprise.
I’m Tongtong Bee, the co-founder of Panony and founder and editor-in-chief of PANews. I began my skilled journey as a journalist at China’s conventional information retailers, together with China Information Service, Jiemian and Cailian Media Group. Since 2015, I’ve been masking blockchain and fintech information as one of many few journalists in China to deal with these sectors on the time.
My deal with financial points and rising applied sciences led to me being chosen to report on the “Two Classes” (NPC and CPPCC) in 2018. And that’s the 12 months my enterprise accomplice Alyssa and I began PANews. We’ve printed over 20,000 articles with a median of over 5 million web page views per 30 days, grew to become a ceaselessly cited supply in crypto and blockchain journalism, together with Forbes, Caixin, CCN, and we’re an official information supply of Tencent Information.
1 — Trying on the high 100 tasks in crypto by market cap, which of them stand out to you — and for what motive?
I’ve to say Bitcoin. Being a journalist eager on financial analysis, I received blown away when figuring out about its idea for the primary time.
Bitcoin is designed to be a considerable step ahead in earning money safer, in addition to a big deterrent to many varieties of monetary crime. It’s the first decentralized peer-to-peer cost community pushed by its customers with no central authority. Bitcoin now has modified the world and can proceed revolutionizing the monetary techniques in lots of international locations. It stays the inventive final result in all of its current and limitless future makes use of.
2 — What’s the single most modern use case for blockchain you’ve ever seen? It will not be the one likeliest to succeed!
Being a part of Panony and PANews, we at all times really feel excited to fulfill and work with lots of of good, modern tasks worldwide. For instance, I’m personally intrigued with what they’re doing at Cudos, a decentralized cloud computing platform. We all know that the cloud is costly and centralized. As well as, as much as 50% of the time, the {hardware} is inactive or switched off, leading to low return on funding for enterprises and an infinite carbon footprint. Thus, the present improvement trajectory is unsustainable for the planet.
The Cudos community, utilizing its cloud-based distributed computing method that features blockchain assist, permits organizations to avoid wasting as much as 10 occasions greater than centralized hyper-scale cloud platforms and {hardware} house owners to offset (and doubtlessly revenue from) the price of their {hardware} by renting out their computational energy to the community.
The blockchain trade might be exuberant. I’m glad there are many abilities on the market constructing a greater future collectively.
3 — What does decentralization imply to you, and why is it essential?
Good query. The decentralized net is the unstoppable way forward for the web.
Within the present model of the net, often known as Web2, individuals can’t overlook the outcomes of huge firms controlling what occurs on-line: private knowledge being tracked and offered with out our permission, lack of energy for our contents, being dominated by advertisements… A lot of the net is centralized. Web3, which seeks to drastically reimagine how we design and work together with apps from the bottom up, will repair many of those points. There are a couple of basic variations between Web2 and Web3, however decentralization is on the coronary heart.
The Ethereum community is presently the most important decentralized community, with entry to hundreds of decentralized purposes. With a deal with digital possession, the incomes potential for content material creators and the innovations of latest methods to take a position has elevated. And in a decentralized net, people can management their knowledge, not some mega company or anyone else.
4 — Listing your favourite sports activities groups, and select the one most memorable second from watching them. When you aren’t a sports activities fan, select a couple of films and a second!
As a winter sport fanatic myself, my recollections of the Beijing 2022 Olympics are nonetheless recent! Eileen Gu successful two gold medals and one silver at a single sport is unquestionably a free ski sensation. Not simply watching her stunning strikes is jaw-dropping; I additionally admire her fixed efforts to encourage women. I’m additionally honored to have made the Forbes China 30 Underneath 30 in 2020 along with her (totally different record)!
As a feminine entrepreneur, I love her spirit of sticking to targets, difficult the established order, pursuing goals with ardour and fixed arduous work. It gave me energy when my enterprise accomplice Alyssa and I began our enterprise collectively.
5 — When you didn’t want sleep, what would you do with the additional time?
I actually want I don’t must sleep so I can do extra issues that curiosity me. I might in all probability learn extra books as a result of I at all times discover it fascinating to get to know one thing new. In the course of the two-month lockdown in Shanghai, I grew out of a behavior of indoor badminton train and can carry on doing that, doing it correctly open air.
I’m tremendous grateful that my husband and I share many hobbies, and one among them is to write down a ebook collectively on promoting in Shanghai. We’re additionally fairly taken with making documentaries for Chinese language folks artists and hope the world might see them sooner or later.
6 — What’s the way forward for social media?
We envision the way forward for social media is owned by content material creators, communities — not sure platforms that management the narratives. That is what Web3 brings us. Decentralization might be the blueprint for the way forward for social media: Customers might have direct entry to the decentralized platform; no centralized authority can dictate the foundations of engagement and monetization; social media will develop into a freer area whereas additionally granting content material creators full possession of their property.
Decentralized autonomous organizations (DAO) are a novel manner for on-line social group that can have far-reaching implications. Properties of DAOs are more likely to have an infinite influence on the enterprise of social media. Blockchain tokens have the potential to vary that association by permitting creators to monetize their followers utilizing lots of the identical strategies that DAOs use to reward their members for contributions.
We’ve seen pleas from customers that Twitter might have the potential to shift the facility steadiness and to be remodeled right into a Web3 platform. We’re additionally grateful to see a few of the tasks, together with Only one and Rally, are dedicated to reshaping social platforms and rebuilding the social and creator financial system.
A want for the younger, bold blockchain group:
Our group wants extra builders who’ve a heat coronary heart and a cool mind. Much less FOMO, extra persistence. And confusion is sweet: It makes individuals consider themselves.
