Angel Investor Bob Xu : What is the Most Valuable Application for Blockchain?
“ Blockchain is exactly gold for the future.”
Mr. Han Feng, a well-known blockchain researcher and the secretary-general of Distributed Autonomous Coalition Asia, said at an Angel Investment Summit on January 22.
At this investment conference, Bob Xu Xiaoping, one of China’s most renowned angel investors, together with Mr. Han, debated avidly over bitcoin and blockchain .
“In fact, bitcoin almost completely imitates gold, and the ‘king of cryptos’ is positioned as digital gold now on the Internet. It represents some kind of digital wealth of the future. “ Han said.
When asked about the most valuable application for blockchain by Bob Xu, Han responded, “Bitcoin is the first application of blockchain. And a meteoric rise in Bitcoin price has fueled the current blockchain fever. ”
He further explained that bitcoin had become a new credit resource for the Internet, and in this point it played a quite similar role as gold.
Besides, Han thinks the decentralized ledger technology can provide a financial instrument which is urgently needed by China now as such tools can be used to monetize ‘the future’.
“ In present-day China,only real estate can be converted into cash in the future, but this industry has nothing to do with innovation.So blockchain, as well as big data, can serve as a best tool for everyone’s wealth,” Han said.”The logic of blockchain is to turn consumers into investors at the same time.”
Although blockchain heat spreads across the globe rapidly, this industry still has to face two daunting challenges. “ There are two risks troubling the blockchain sector.First , there is a massive bubble in this industry. Second, blockchain startups have moved the government’ cheese , which is a entirely different story from Internet business.” Han asserted.
But both Han Feng and Bob Xu are bullish on the blockchain’s future. “Bitcoin and blockchain are both extraordinary technological upgrades and revolutions. Virtual currencies have greatly enhanced the efficiency of productive forces, though brought huge risks.”
Bob Xu announced the blockchain revolution had arrived earlier this month. “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. ”He shared his opinion on blockchain in a Wechat group.
During the discussion with Mr han this time, Bob Xu urged both investors and governments to set industry norms and policies in advance for cutting-edge technologies and new phenomenon followed. By doing this, China will lead global blockchain innovation.