Lao Mao: There Might Be 30-50 Crypto Exchanges In Japan
Lao Mao, founder of INB, accepted the exclusive interview from 8btc. Below is the translation of condensed transcripts. Video could be found here.
Q: Did you settle down in Japan? How is life there?
Lao Mao: I like the life style of Japan. I am very happy to live there, but I haven’t settled down there. Because I am responsible for the overseas business of INB. I am planning to work in Japan as a hub to reach out for the global connections.
Q: When are you planning to come back?
Lao Mao: I have no plans to come back under such work arrangement. However, I still maintain communication with domestic users, such as continuing to write articles and occasionally returning China to make a presence.
Q: How do you view Japan’s claim that it has become a “global blockchain center”?
Lao Mao: There is no problem with this statement from the geological distribution of the exchanges. I am expecting that Japan will have 30-50 compliant exchanges in the future.
Q: Does the Japanese government value the development of wallets more?
Lao Mao: You may consider the Japanese government as an economic person. In Japan, as long as we pay taxes legally and does not violate Japanese laws, Japan welcomes us to do business. It doesn’t matter whether it’s a wallet or anything else, as long as it can generate profits.
Q: After the “Mt.Gox” incident, how is Japan’s regulation?
Lao Mao: When the Mt.Gox incident occurred, Japan did not have any supervision over the entire industry. However, Japan is now very comprehensive and meticulous in its supervision and one can even say that its coverage overtakes any government in the world. Under such a regulatory system, the safety of the Japan Exchange is also in leading position in the world.
Q: How do you see the development of blockchain industry in Korea?
Lao Mao: I think there is still a lot of uncertainty in South Korea. Although I have some arrangement in South Korea, but South Korea is not my focus at the moment. If South Korea’s policy is more clear, I will attribute more resources to South Korea.
Q: What’s your comment on Li Xiaolai’s weibo last year that “the funniest idea is the “blockchain industrial park”?”
Lao Mao: When he posted the weibo in 2016, it is no mature for the establishment of a “blockchain industrial park”. It is a big thing and cannot be established by just a few people. Now that the conditions for establishment have matured. In our view, only Hangzhou has the genes for the establishment of a “blockchain industrial park”.
Q: How do you see “decentralized exchanges”?
Lao Mao: The concept of “decentralized exchange” has no problem in itself, but it still takes a long time to operate normally. Now all of the “decentralized exchanges” are like toys. Small amounts can be traded. But if volume increase to tens of thousands of Ethereum or hundreds of bitcoins, these exchanges might not be able to handle the trading. This amount is not a problem in traditional exchanges.
Q: You are currently running a campaign for EOS nodes. Are you related to EOS officially?
Lao Mao: I didn’t have much direct contact with their officials. Although I can have a good relationship with the team, I don’t think such relationship is necessary. My compaign for the node is based on my personal capability and influence.
Q: Can you elaborate on the issue of value investment in the blockchain industry?
Lao Mao: I may not be appropriate for such question. First of all, because I am not in charge of the investment business now. Secondly, I have stopped making new investments since the Spring Festival in 2018, and completely given up the profit-seeking conduct in my personal name. My goal is to do things. Job itself can really be separated from making money, but most people have not yet understood. Now that I am not motivated to make money, it’s not logical to comment on value investment.
Q: What do you want to do with your business?
Lao Mao: Let’s wait and see. First of all, there is an essential difference between words and deeds. If I have finished something and you learn that this matter is done by me, then I will be very happy and have a sense of accomplishment.