Angel Investor Xu Xiaoping: Embrace The Blockchain Revolution
When you are scratching your head wondering what the hell is blockchain, someone has already stepped forward to announce the advent of blockchain revolution.
Bob Xu Xiaoping, widely known as Teacher Xu for his another identity as the New Oriental co-founder, is the biggest and most successful angel investor in China.
Xu started ZhenFund in 2011 with Sequoia Capital China, has put investment into some 400 startups. Their impact is comparable to American early stage funder Y Combinator.
On Jan.9, a WeChat screenshot about Xu Xiaoping’s bullish opinion about blockchain went viral among blockchain insiders in which he said,
“Dear all, the blockchain revolution has already arrived. This trend goes forward with great vigor and strength. Riding the trend, you’ll prosper; off the trend, you are doomed. It’s a complete subversion of the tradition, much greater and violent than Internet and mobile Internet. Act fast, get to know blockchain and ICO and be ready to enter into the blockchain era. Bear no doubt and hesitation for blockchain revolution, get everyone in your company into learning it. ZhenFund will organize industry leaders to popularize blockchain knowledge for you. So I say to all of you, do not just be an onlooker, be the surfer to ride and enjoy the wave that will soon hit various industries.”
“Keep the said above here, do not spread it.”
Although it is stressed that do not spread what he said in the group of ZhenFund investment, some CEO in the WeChat group still did so and soon made apology.
Xu soon made response saying that it was actually a low-key sharing within the invested fellows.
“I strongly encourage my fellows to learn and embrace blockchain technology, which is an understanding based on my long-term observation and deep thinking. And I feel obliged to tell this to our fellow startups.”
“And I do not want my understanding about blockchain to be mistaken for my opinion about ICO as I do not want to get involved in some recent ICO chaos”.
“The blockchain revolution has indeed arrived.”
His ending sentence was also rather eye-catching,
“Whoever find out the guy who disclosed my opinion will be rewarded one bitcoin.”
Famous Xu and one bitcoin reward made the weibo got around quickly. It was reposted 1,410 times and got 984 comments, among which, the top two are as follows.
Chang Jia (CEO of 8BTC & Bytom): It seems that Teacher Xu has been ready to be all in blockchain. Still remember Xu asked me to introduce blockchain in one sentence last year in Hangzhou, and I briefed it into a simile that blockchain is like the reverse machine of a printer (printer here is a simile of the Internet), a printer (Internet) turns those competitive resources into non-competitive ones with massive replications, while blockchain makes these replicated by the Internet with nearly zero cost back into competitive resources.
Obviously it is a disguised hype. It is a group of 500 members judged from the screenshot, 500! It is impossible to keep secrets within 500 persons! Absolutely impossible from a probability point of view. So he actually wants it to get spread! Blockchain is indeed brand new and an innovation, but a lot of people don’t know enough about it and easily be fooled by cryptocurrency such as bitcoin.
And a weibo user’s comment is also quite catchy:
Teacher Xu is actually anxious that traditional financial institutions will be replaced in the blockchain revolution, as many potential projects now are not hurried to find investors but sell its token instead for its advantage of raising large sum fund in short time without transfer of equity.
Xue Manzi, another famous angel investor in China also reposted Xu’s opinion about blockchain. He has made dozens of blockchain investments in these years, including Bytom, Inkchain and many ICO projects.
Think it , observe it and then do it
Actually as early as 2013, Xu has already stepped in the blockchain industry.
Blockchain Investment of ZhenFund:
- 2013, Huobi- leading global blockchain asset service provider
- 2016, Yunphant Blockchain- selected as the official contractor of “13th-Five Year Plan” blockchain infrastructure construction by Ministry of Science and Technology last year.
- 2017, Gongxinbao- a star blockchain project in Hangzhou, engaged in developing the world’s first decentralized data exchange.
- It is reported that Dai Yusen, partner of ZhenFund, was involved in the private financing of TRON, launched by Sun Yuchen, a well-known post-90s entrepreneur in China.
- and many others we don’t know…
Angel investors are always prescient about the market trend and then act fast, will blockchain let them down? Let us know your opinion.