"Interview Date: August 21, 2023"
1. You can briefly introduce yourself
Hello everyone, I am Yu Jianing. Well-known digital economist, authoritative blockchain, metaverse, and Web3 expert. Currently the president of Uweb, executive director of the Metaverse Industry Committee of the China Mobile Communications Federation, co-chairman of the Blockchain Special Committee of the China Communications Industry Association, and Hong Kong Blockchain He holds the positions of Honorary Chairman of the Association and other positions. He once served as the President of the Hunan University of Technology and the Director of the Institute of Industrial Economics of the Information Center of the Ministry of Industry and Information Technology. Hailed as a "leader in cultivating blockchain thinking" by China Weekly, he has won honors such as the Global Blockchain Leadership Award, the Special Contribution Award for Blockchain Development, the Yuanverse Chinese Leader, and the Top 10 Blockchain Chinese People of the Year. title, and his book "Yuan Universe" has been translated into six languages and sold well all over the world.
2. Can you share your opportunity to enter the circle?
I first came into contact with Bitcoin in 2012. At that time, I was working in a government research institute, and we conducted a research project on Internet finance. This topic involves some innovative Internet financial products. At that time, my leader asked me to study Bitcoin-related content, although I did not fully understand it at the time. It wasn’t until 2014 that I read a Bitcoin book published in Chinese. This book introduced the operating mechanism of Bitcoin in detail and gave me a more systematic understanding of the value that Bitcoin may play in future society, as well as its inherent some logic and problems that need to be solved. At that time, although people in China did not pay much attention to blockchain and digital assets, I had a vague feeling that this might trigger a major change. I always paid close attention, even though sources of information were relatively limited at the time. I remember there are two main sources of information. One is the Babbitt Forum founded by Teacher Changchai. Through this forum, I learned about more projects, such as Ethereum. Another source of information is Prince Gong’s blog. I also listened to some lectures by teacher Han Feng.
By 2016, I created some social groups, the most important of which was a Chinese blockchain private discussion group. This group gathers many elites who have met in various activities and conferences in Beijing. In this group, we constantly discuss new industry information, including the national government’s beginning to promote the research and development of central bank digital currency. I feel that this is closely related to my work, because I already work in the Information Center of the Ministry of Industry and Information Technology, responsible for the research project of the top 100 Internet companies in China. This project lasted for nearly five years and allowed me to witness with my own eyes the development process of China’s Internet industry.
I have also seen the persistence of some entrepreneurs who faced many challenges in the early stages but ultimately succeeded. These experiences sparked my strong interest in blockchain and led me to consider it as a work topic worthy of in-depth study. Although I was invited to join a listed company, I thought this was not an opportunity for me, because I believed that only in the early stages of the industry, along with the growth of the industry, could great value and rapid development be achieved.
Therefore, although I kept a low profile until 2017, I finally decided to devote myself to the blockchain field. I waited for the introduction of national policies, and it was not until September 2017 that I began to actively participate in the industry. At that time, the entire industry was at a low point, exchanges were closed, and project parties went overseas, but I thought I needed to stand up and speak for the industry. I began to emphasize the importance of industrial blockchain and blockchain empowering the real economy, and hoped to make this word a consensus in the industry, society, and even the country. This became my lifelong dream and contribution.
In fact, the development of blockchain is much faster than I originally thought. Since 2017, I have started to give speeches on various occasions to introduce the concept of industrial blockchain. By 2018, the country regarded blockchain as an important breakthrough for independent innovation, and the term industrial blockchain officially became a public consensus, and almost everyone began to pay attention to it. I began to think about how to combine my business with blockchain. I have written many reports on the sub-sectors of the Internet industry before, but I found that there were relatively few reports on the blockchain industry, and almost no one wrote them. So, I decided to start writing a white paper on China's blockchain industry at my work unit, the Information Center of the Ministry of Industry and Information Technology. This white paper took nearly five months. I conducted a lot of research and visits, visited hundreds of blockchain companies and projects, and interviewed many experts. In the end, I completed the white paper and held a grand press conference on May 20, 2018. This press conference was supported and attended by many leaders. After that, the white paper spread and had a far-reaching impact. Many local governments referred to this white paper when they began to formulate blockchain policies in 2019.
My efforts have made industrial blockchain more widely known. However, I have begun to feel more and more that blockchain really seems to be the next generation of the Internet. I keep emphasizing this. Although I originally called it 5.0 and later changed it to 3.0, this is just an academic detail. At the same time, Li Lin, the founder of Huobi Exchange, also has full faith in blockchain. He hopes to change people's views and understanding of blockchain through education. We resonated deeply, so he founded Huobi University, which was later renamed Huobi Education. Li Lin hopes that through education, more people can have a deep understanding of the business value of blockchain and the potential to transform society in the future, rather than just chasing the hype. He emphasizes long-term thinking rather than simple short-term trading. He believes that short-term transactions may cause some social problems, while long-termism is more conducive to the sustainable development of the blockchain. In 2018, after many communications and invitations, I finally decided to leave my original organization and join Huobi Group. This decision has proven to be a wise one for me. After joining Huobi Group, I have more business resources and connections, as well as greater social influence.
The establishment of Huobi University was an important opportunity for me. I have many years of research experience in the field of blockchain, a deep understanding of this field, and a certain social influence. I also know many top experts who have provided me with support. These factors enabled me to establish a school, which requires a deep knowledge reserve, social influence, and expert resources. However, the process of establishing Huobi University was much more difficult than I initially imagined. By August 2018, I officially prepared Huobi University and planned to officially open it in December 2018.
After opening Huobi University, we quickly launched various courses, including the then popular STO (Security Token Offering) course. We held a grand opening ceremony in Hainan, which attracted the participation of local department-level leaders and received widespread attention from the global media. The media even likened us to the "Whampoa Military Academy" of blockchain, and this reputation spread for a while. However, we faced some challenges. First, the Global Blockchain Leader Course we launched was expensive, rising from 128,000 to 158,000, and finally to 198,000, which was an unprecedented high price at the time. Although some people were worried about whether they could afford it, we persisted and the course lasted until I left Huobi University.
Since the end of 2018, the blockchain industry has undergone some changes, and Huobi University has become a self-financing institution. Cost pressure has increased, but we have worked hard to maintain the quality of our courses and the competitiveness of the market. In early 2019, we formed a more capable team to provide courses at a lower cost, which became an opportunity for us. We have been working hard in the market, quickly adjusting the team and strategy to open up the market at a faster pace. The team has always maintained a high level of combat effectiveness, despite the limited number of people, no more than a dozen people at most. We hold meetings every night to discuss industry trends and business progress, maintain close cooperation, and respond to market challenges. Despite the pressure we are facing, the entire industry has gradually recovered due to increased market demand. Since 2019, our courses have been offered once a quarter, for a total of 14 sessions, with an average of 30 to 40 students per session. This has enabled us to accumulate nearly 500 top-level high-end alumni who have made outstanding achievements in the industry.
In 2019, we started offering courses globally, holding conferences and courses not only in China, but also in the United States and Japan. This caused a stir internationally, and even today in Silicon Valley, people still mention our impact. We deeply feel that the Chinese were in a dominant position in the global blockchain field at that time, especially in 2019, this position has been further consolidated. We also actively participate in government training programs to teach government leaders about blockchain and help them understand this technology. This has won us the support of government resources and established a good reputation. Many people learned blockchain knowledge through our courses, and this reputation continues to this day.
In 2020, the COVID-19 epidemic affected the development of our offline courses, so we began to launch online courses. We have established a complete product system, from recorded and broadcast courses of a few yuan to higher value systematic recorded and broadcast courses, to online live courses and high-end global blockchain leader courses. This curriculum system has become very complete and assumes the important task of popularizing blockchain education.
We are very proud of our strong alumni network. We regularly hold large offline alumni festivals, with four to five hundred people attending each time. These events provide alumni with opportunities to communicate and cooperate, and become a hub. One of the greatest values of running a school is the ability to build a strong alumni network, allowing alumni to interact and cooperate deeply and innovate together. This is particularly important in the blockchain industry, because many people only start to get involved in blockchain after entering the industry and have not received professional training. In this industry, there are very few people who have professional training, and most people turn to the blockchain field during their careers. Therefore, building an alumni network can help these practitioners get to know each other, build trust, cooperate, and jointly promote the development of the industry. Helping them understand blockchain technology, meet their peers, and start a business together is one of the important goals of our curriculum system.
With the existence of universities, people communicate and get to know each other with a learning mentality. This enables them to establish a sincere classmate relationship, not just a business partnership. Classmate feelings prompt many people to be willing to share resources and exchange information for free and help each other. This atmosphere of cooperation and mutual assistance has helped many people achieve great success.
We firmly believe that blockchain and Web3.0 are very valuable technologies, but why are there so many problems and chaos? This is because most people don’t understand how to utilize these technologies properly. Therefore, we are committed to education and helping people understand, master and make full use of blockchain and Web3.0. Our goal is to help people understand how to combine these technologies with real industry scenarios, because this is not an easy process.
Our school motto is "Linking Industry Empowering Entities", which reflects our ongoing mission. We believe that what we do has important value because we help people understand, master and make full use of blockchain and Web3.0 technologies, integrating them with real industrial scenarios. We have always believed that our educational work is valuable because it helps address the knowledge gap in the blockchain and Web3.0 fields.
In 2021, due to policy adjustments, many projects began to go overseas, and I was also sent to Singapore to start exploring the education market. I am very lucky because I was sent to Singapore by Huobi in 2022 to start expanding the education business. Although due to the restrictions of the epidemic in 2022, it is almost impossible to hold offline courses, I also have the opportunity to visit many countries internationally, make new friends, and understand the blockchain infrastructure and policy environment of different countries.
I firmly believe that entrepreneurship should be international and should not be limited to a certain region. At the end of 2022, Hong Kong began to study policies related to virtual assets. I was fortunate to be invited to Hong Kong by some friends, participated in some discussions on the development of virtual assets, and personally witnessed the formulation process of Hong Kong policies. This experience made me even more convinced that blockchain and Web3.0 technology have international development potential.
Core content: I first came into contact with Bitcoin in 2012, but I really studied it in depth in 2014. In 2016, I created a Chinese blockchain seminar group. In 2017, I actively participated in the blockchain industry and emphasized the importance of industrial blockchain. In 2018, I wrote the white paper on China's blockchain industry. Later, I joined Huobi Group, emphasizing blockchain education and long-term thinking. This decision was right for me and made me more deeply involved in the blockchain industry. Huobi University was born out of deep knowledge and resources in the blockchain field and belief in the development of the industry. Although faced with challenges, we began to actively promote courses in 2019, especially globally. We also cooperated with the government to train officials and established a strong alumni network to promote industry cooperation and development. In 2020, we launched an online course system to popularize blockchain education. The alumni network is crucial in the blockchain industry because most practitioners are career changers, and our goal is to help them understand each other, build trust, cooperate and jointly promote the development of the industry. We also actively participate in associations and industry organizations to contribute to the development of the blockchain and Web3.0 industries. In the future, we will continue to expand our business areas to better serve this industry.
3. Why did you start UWEB? Can you introduce UWEB’s business?
As time goes by, at the end of November 2022, Hong Kong has clarified its policies in the field of financial technology, especially the development of virtual assets, and the policies have become clearer. At the same time, due to the decision of equity transfer, we decided to leave Huobi University, leave Huobi, and re-establish an independent Web3 education institution in Hong Kong. We intend to use our knowledge system and network to provide educational services to more people.
Now, I firmly believe that we need a global perspective. We have offered courses around the world, including Hong Kong, Singapore, Dubai, Tokyo and the United States. This allows us to provide entrepreneurs with global resources and work with entrepreneurs overseas. In addition, we also recognize that the rise of generative AI provides new opportunities for education. Through GPT, we can educate more people in multiple languages. We have developed an AI teacher that can conduct questions and answers in multiple languages and spread knowledge. AI-driven education has become one of the focuses of our development, and the results are good.
We are very happy to be able to spread knowledge in multiple languages. Because of our strong community, our students are willing to communicate with us. We often hold online events and organize activities in core communities, such as the "Web3 Alumni Association", which is a community of students from my past core courses who are willing to continue learning and collaborating. Many of these trainees had great success in the previous wave, but they remain passionate. Huobi University provides them with a platform for long-termism and ideals. In the blockchain industry, the spirit of long-termism is particularly important because it helps attract talents who are willing to invest, grow and follow industry trends for the long term. Through education, we can identify these talents and provide them with support.
Our alumni association "Web3 Alumni Association" regularly invites outstanding teachers to hold closed-door meetings to promote exchanges and collisions among alumni, while helping them understand new directions, opportunities and innovative methods in the industry. We also continue to offer courses, including "Web3.0 Future Wealth Course" and "Web3.0 Pilot Course". The "Pilot Course" focuses on helping students understand new entrepreneurial logic, connect with global entrepreneurial resources, and gain an in-depth understanding of the regulatory environment, policies and regulations, and core projects in different regions. The "Future Wealth Course" aims to help students understand industry cycles and trends to achieve better asset allocation and returns. These courses are mainly held overseas, especially in Hong Kong and Singapore, which have become our main teaching bases.
At present, although we have a good foothold in the education field, in fact, the income from courses is limited, mainly coming from tuition fees, and will not bring huge profits. However, we are satisfied with what we have achieved. We have successfully launched our fourth course, with more than 50 students in each session, and we have held closed-door meetings that have attracted 200 to 400 participants. Although we don’t publicize it too much, these people come to study because of the quality of the course content and are willing to spread it voluntarily, which adds luster to our educational cause.
In the future, with the expected bull market in the blockchain market, we may consider expanding our business areas. In addition to education, we also have incubation resources that can support the incubation of some projects. We have mainstream financial and traditional industry resources that can assist entrepreneurs in connecting traditional resources in the fields of blockchain and Web3.0. At the same time, we are also paying close attention to the ecological development of Web 3.0 in Hong Kong, plan to participate in relevant research and teaching, and consider the layout of ecological development.
Next year, we may launch more businesses. Education business will still be our foundation, but we will make full use of Hong Kong's favorable environment to make more contributions to the blockchain and Web3.0 industry. We will continue to stick to the education business while actively expanding into other areas to better serve this industry.
In addition to the education business, we are also actively involved in various associations and industry organizations. We established the Blockchain Committee of the China Communications Industry Association a long time ago. In 2021, we established the China Mobile Communications Federation and the Metaverse Industry Committee. These organizations have made good progress, especially the China Mobile Communications Federation and the Metaverse Industry Committee, which have attracted the participation of more than 100 large companies and are committed to the development of the Metaverse. We believe that in the future, through education, incubation, associations and other means, concentrating more resources in China and Hong Kong can promote chemical reactions between various resources and create huge value. This comprehensive cooperation and resource integration is expected to bring more opportunities and development space to the blockchain and Metaverse industries.
Core content: At the end of November 2022, Hong Kong clarified its financial technology policy, which prompted us to decide to leave Huobi University and create a Web3 educational institution in Hong Kong. We have a global perspective, offer courses in multiple countries, and use generative artificial intelligence to provide multilingual education. Although the income from the courses is limited, many courses have been successfully launched to attract students and alumni. In the future, we plan to expand our business areas, including project incubation and docking with traditional resources, while actively participating in industry organizations to create more opportunities for the blockchain and Web3.0 industries.
4. What is your most memorable experience in Web3?
My personal asset allocation is relatively stable. However, I would like to share a few things about myself that I am proud of or that are interesting. Why do so many people want to take my class? I think one of the reasons is because we pursue the concept of true knowledge through practice, that is, the combination of knowledge and practice. Most of the topics and content we teach are deeply recognized by ourselves and have been practiced personally. This concept became even more important during the epidemic because I was stuck abroad and unable to return to my country, and my business was also affected to a certain extent. This is a very difficult time, but we decided to switch to online live streaming and start online education.
During the pandemic, we started experimenting with live streaming and found it to be a better way. Live streaming enables communication and discussion with students more quickly, and just in time for the rise of DeFi (decentralized finance). I personally experienced DeFi and found it to be a very amazing financial tool. In the past, smart contracts were basically just a concept, but now DeFi has become a real financial tool. I am no stranger to DeFi because in the first half of 2019, I had contact with Pan Chao, MakerDAO’s chief representative in China. He is a very powerful young man.
One thing I am proud of myself is that at the beginning of the rise of DeFi, I encouraged students to actively participate in DeFi in my live classes. At that time, DeFi began to emerge, and various new financial instruments and liquidity mining projects emerged. I shared my experience during the live broadcast, emphasizing that DeFi may trigger historic changes, and encouraged students to try to participate. Many students followed my advice and started participating in DeFi projects, eventually making good profits. As a teacher, I am proud that although we cannot create market trends, we can guide students to keep up with the trends and help them succeed. It's a very satisfying feeling.
Another thing that I think is historically significant is that I gave a large New Year's Eve speech at the beginning of 2022. At that time, the entire cryptocurrency market was in a stage of rapid growth, and all parties were discussing blockchain and digital assets. My talks have attracted hundreds of viewers offline and tens of thousands online. While this scale was not unusual at that time, I think through this talk I was able to influence more people and help them better understand the opportunities in the blockchain and digital asset space. Although these things may not bring me a lot of financial rewards, I feel that at least at a certain stage, we have helped a lot of people keep up with the times and lead them forward. Therefore, I am confident in the work I am doing now, and I believe I can help people better understand the opportunities in Hong Kong and overseas, and prove this value in the coming years.
Core content: I am proud to pursue the educational philosophy of practicing true knowledge, and actively advocate students to participate in the DeFi field. During the epidemic, we successfully pivoted to live online education, paying special attention to the rise of DeFi, encouraging students to participate and share their experiences. I have also given historic speeches, attracted large audiences, and helped more people understand the blockchain field. Although these efforts may not bring monetary returns, I am confident of their future value.
5. What areas do you think have the potential for development in Web3?
Although Ethereum may be priced lower in the primary and secondary markets now, I think Ethereum has great opportunities in the decentralized finance sector. Although Ethereum may face competition in the primary market, it has already built a strong ecosystem. The entire industry is paying attention to it, and people including Nobel Prize winners and top professors are supporting it.
In recent years, Ethereum has continued to undergo technological innovation. Although my personal holdings are limited, I deeply feel its potential. Although the crypto market is highly volatile, I think the industry is currently at a low point of opportunity. Whether in the primary market or the secondary market, there are many high-quality projects and opportunities waiting to be discovered.
In addition, Ethereum has formed a huge ecosystem and a strong network effect, which has become very difficult to surpass. Therefore, no matter which layer two project succeeds in the future, the final value cycle will return to Ethereum because it is still the core of the entire ecosystem.
A major change occurred in Ethereum, the EIP-1559 proposal, which introduced a burning mechanism and put Ethereum into a deflationary state. This is an important development as most cryptocurrency projects are experiencing inflation, while Ethereum is experiencing the opposite. Projects in a deflationary state may receive more attention amid reduced supply, which may have a positive impact on prices. Deflation can also attract investors because they anticipate less supply in the future, which could push prices higher.
Another important factor is the introduction of the staking mechanism in Ethereum, shifting from PoW (Proof of Work) to PoS (Proof of Stake). In the current situation where the market is not very active, stakers' returns are relatively low, but once the ecosystem becomes more active and transaction volume increases, stakers' returns will rise significantly. This will attract more people to stake Ethereum and reduce the circulating supply of Ethereum, which may have a positive impact on the price.
In summary, Ethereum has implemented a variety of mechanisms, including deflation and staking, which help maintain the health of its ecosystem and attract more participants. If strong decentralized applications emerge, these mechanisms may accelerate the growth of the entire ecosystem and have a huge impact on the price and ecosystem of Ethereum. These changes have given Ethereum a super flywheel acceleration mechanism, which, once launched, will have a profound impact on the ecosystem and tokens.
Bitcoin also sends an important signal that it is gradually evolving from a pure value storage network to an open application ecosystem. Although Bitcoin has always been a PoW protocol, there may be more exploration in the future to make it more like a true public chain. However, it should be noted that although the PoS strategy has advantages in some aspects, the PoW protocol still has unique advantages in terms of security, de-censorship, and independence, so the two may coexist in the long term.
Innovations in the application layer and trading infrastructure may also drive growth in the crypto market. Although regulators have been sending signals in the crypto industry, these innovations may change the future landscape of cryptocurrencies. In a compliance environment, financial institutions in the crypto market may gradually accept regulation and become licensed, like foreign exchange brokers. This will bring compliance and control, but may also lead to market regionalization. Eventually, compliance may become inevitable, which will change the role of exchanges in the crypto market, making them more like traditional financial institutions responsible for compliance operations such as deposits and withdrawals. This is a possible development trend that requires close attention.
The second important aspect is the connection with the law, which is the key to achieving compliance. At the same time, novice guidance is also crucial, as it helps more people understand blockchain technology, promote user growth, and promote marketing in the market. This process essentially distributes and establishes entry and exit channels for on-chain liquidity. More compliant exchanges may emerge in the future, which will help users access and understand the blockchain and provide on-chain liquidity. While these exchanges may be smaller, they will drive decentralization of the market and enable more on-chain liquidity integration.
In addition, there is huge potential for the integration of liquidity and distribution on off-chain centralized exchanges. This means that new liquidity protocols, decentralized exchanges, and blockchain networks are likely to play an important role in this space. Because the current infrastructure may not be complete enough, new competitive opportunities may arise at both the L1 and L2 levels to meet the growing transaction volume and liquidity needs.
At the asset level, I think RWA is particularly worth paying attention to now. The financial industry is currently going through a difficult period. Previously, financial products were easy to sell when the base interest rate was low. However, the situation is different now, and the financial industry needs more innovation to attract new customers and improve efficiency.
In this regard, I think RWA provides a very good solution to meet the financial industry's need for innovation. RWA is not just a niche game in the crypto space, it is actually a brand new way to connect with the mainstream financial industry. Hong Kong may have a great opportunity in this regard because the region is actively promoting regulation, but the scope of regulation is not very broad, and there are still many relatively unregulated areas.
As an international financial center, Hong Kong has a good international financial environment and can effectively attract global assets. It has the potential to become a region that can bring together global assets online and conduct compliant distribution through blockchain networks. Hong Kong is expected to achieve trillions of dollars in market capitalization in this area within the next three to five years, assuming the right mechanisms and platforms emerge.
In the field of GameFi, although the scale may not be small, most projects are still in the exploratory stage. In the field of hardware, such as virtual reality (VR), there is also a chance to explode. Recently, I participated in some events in Shanghai and Tokyo and saw many interesting projects, including some large game companies actively promoting new works, which may bring more opportunities to the industry.
In general, despite the current poor state of the crypto market, there are still many opportunities. In the bear market, some project parties are still working hard to advance their projects. As long as you observe carefully, you don’t have to have all the opportunities, as long as you grasp some of them, you may achieve excellent results. Now is an era with many opportunities.
Core content: Ethereum has established a strong ecosystem and introduced deflation and staking mechanisms. These changes are expected to promote its development, attract more participants, and have a positive impact on prices and ecosystems. These mechanisms make Ethereum a vibrant ecosystem that is expected to usher in rapid growth in the future. Bitcoin is gradually evolving into an open application ecosystem. Although the PoS protocol has advantages, PoW still has unique security and independence advantages, and the two may coexist for a long time. The cryptocurrency market may develop due to innovations in the application layer and trading infrastructure. The gradual acceptance of regulation and licensing may become a trend, but it may lead to market regionalization and more traditional roles. Compliance may be inevitable and will change the way exchanges operate.
Compliance, user guidance and liquidity integration are important aspects in the field of crypto assets. In the future, more compliant exchanges may emerge to help users understand blockchain and provide on-chain liquidity. In addition, RWA has great potential in innovation in the financial industry, especially in Hong Kong, which is expected to become the center of online compliant distribution of global assets. Hardware fields such as virtual reality also have opportunities for explosion. Although the crypto market is currently sluggish, there are still many opportunities that need to be carefully observed and grasped.
6. What are your future plans?
When it comes to blockchain, our goal is to turn dreams into reality. The country has policy restrictions on virtual asset transactions, mainly due to excessive hype in the industry and the phenomenon of some people getting rich overnight, which does not have much value to society. However, if blockchain can help the country achieve financing, attract funds and promote national construction, it will have a different meaning.
Therefore, we decided to focus our attention on RWA, especially in Hong Kong. We plan to publish a book in the next few months, establish an industry organization or alliance, hold conferences, and actively communicate with regulatory authorities and policy departments to promote regulatory policies that meet industry needs. We believe there are huge opportunities in this field, so we will continue to work hard to provide education. We also believe that education will have huge market opportunities and room for development in the next few years.
In the future, only one or two killer applications will be able to attract hundreds of millions of people into the blockchain industry. This will bring huge user increments, which are currently relatively low in this industry. Therefore, the field of education itself has huge commercial value, not just social welfare or charity.
With the support of artificial intelligence, we have the ability to provide global online education products. Therefore, we plan to continue to promote artificial intelligence-based education and high-end offline education in the future. We believe that in the next three to five years, many top entrepreneurs and large institutions may emerge in Hong Kong, and many of them may be our students. This will be a matter of pride.
Core content: Our goal is to apply blockchain development to nation building. Despite the challenges faced by blockchain, we are committed to promoting education, industry organizations, and regulatory policies to explore the opportunities in this area. We believe that blockchain education will become an important business opportunity in the future, especially as the blockchain industry develops and attracts more users. Through AI education, we plan to cultivate future entrepreneurs and institutions to contribute to Hong Kong and international markets.
7. Do you have anything you would like to share?
In the investment field, there are some proverbs that make a lot of sense - bulls don't die, and declines don't stop. This means that whenever market sentiment is low and there is a lack of confidence, a bull market is usually coming. There are already many signs of this, many projects have no longer received attention, and community discussions have decreased, but at this time, investors will instead concentrate on changing their chips and hand them over to the most determined people and those with the most faith.
If you still have faith, it means the bear market is not over yet. Of course, if you feel desperate but still have faith and continue to invest firmly, you may become the "survivor" of this industry. In the field of blockchain, the "survivors" are kings, and the final "survivors" are not necessarily the smartest or the best-backed people, but those who are the most determined and have the most faith.
In addition, no matter what the future holds, the market may still experience some changes, especially after the halving event. Before the bull market comes, there is usually a sharp drop, which helps to clean up the leveraged positions in the market and reduce the leverage ratio to a lower level. This is the practice of the market's main players, who hope to clean up those speculators who use leverage.
There are several important suggestions when it comes to investing and the blockchain industry: First, do not overuse leverage, because the blockchain market already has high volatility and potential returns, and keeping leverage low can reduce risks. Second, adopt a long-term capital allocation strategy. Opportunities in the blockchain market usually come from long-term growth in trends, and don't be swayed by short-term fluctuations. Continuous learning and understanding of market dynamics are crucial, because there is information asymmetry in the blockchain industry, and correct cognition can directly affect investment profitability. In addition, as the industry changes rapidly, it is critical to keep up with cognition to avoid losses. Finally, strictly abide by risk management principles and ensure the safety of funds regardless of the investment amount. In short, the blockchain industry is full of opportunities and challenges, and adopting a cautious, long-term, continuous learning and risk management strategy is the key to success.
Core content: When market sentiment is depressed, a bull market is usually about to begin. Investors who stand firm in their beliefs may come out on top in a bear market. Using leverage carefully, adopting a long-term investment strategy, not being swayed by short-term fluctuations, constantly learning and following industry changes, and strict risk management are the keys to success in the blockchain industry.
