Even with all the pressure and unfriendly policies by the Chinese government regarding tech and blockchain in particular, Chinese software companies have been achieving impressive feats in that sector.
Courtesy of this obvious success, the Chinese government itself is releasing the noose, and making things easier for Chinese tech companies. This is obvious from the recent explosion of the tech sector. However, in spite of these apparent results and growth, China’s policies are still somewhat limited when it comes to blockchain technology.
While the government’s stance on cryptocurrency isn’t favorable, the country is still quite open to blockchain technology and cautiously encourages it. In fact, China currently leads the pack when it comes to blockchain related patent filings and applications.
As a result, we’re seeing the impact on how countries are trading with each other. In fact, trading partnerships and collaborations between these two countries have become more efficient thanks to the blockchain technology.
While there are many blockchain startups and companies in China, one that stands out is 8 Decimal Capital. This is one of the best performing blockchain investment companies and boasts of being the second biggest crypto fund in the country.
Established by Yubo Ruan, Co-Founder of Skylight Investments, lifelong programmer, and inventor, this 22 year old CEO has a history of being incredibly successful when it comes to tech based inventions and companies.
His former company, Alisimba Technology was acquired in 2016 after a highly successful run. His new company founded in 2017 has recorded tremendous results for investors too and is consistently in the list of top funds in China.
Blockchain’s Ability to Bypass Borders
Ruan strongly believes that blockchain is capable of completely bypassing previously border limited processes, thus making international trade easier and more efficient.
“Although different countries now have different policies towards developing the blockchain technology, we are sure that the blockchain industry is a global playground. As it develops, I believe countries will work even more closely together.”
He strongly believes in the future of blockchain and is working hard towards being at the forefront of the technology when it goes big and attain mainstream integration. To this end, he has partnered with hardcore blockchain advocates and investors to make this a reality.
The company’s board and team includes seasoned investors and programmers, including Fan Zhang, Founding Partner, Sequoia Capital China and Karen Chen, former CEO of USB China.
Smoother International Relations
One of the most appealing features of blockchain technology is its non-politicized nature, and zero currency issues. This makes partnership among highly passionate individuals possible. As a result, the industry is seeing innovative solutions at an increasingly rapid rate.
This environment makes for an amazing place to grow, test ideas, deploy possible solutions and iterate as quickly as possible. Therefore, people from across the globe can come together irrespective of their physical locations to brainstorm and test theories.
Currently, there’s a lot of collaboration going on between Chinese and American developers working on blockchain solutions. He believes that Europe can borrow a leaf from this and get on board. Ruan says:
“We not only provide a full suite of post-investment value-add to our portfolio companies, we also conduct joint ventures and incubate portfolios companies. We have strong connections, resources and partners in China and U.S., which gives us the ability to bridge portfolio companies with top resources worldwide and quickly help the entrepreneurs to achieve their best potential.”
The opportunity offered by blockchain has made it incredibly easy for international relations between countries and their residents –a feat that would have been very difficult in the past.
Collaborations and innovations are easier, and completely unencumbered by border restrictions, local politics or exchange rates. Little wonder Ruan thinks Europe needs to get on board as these collaborations are continuously producing great outcomes for all involved parties.
Security Token Offerings (STO) and the Future
While initial coin offerings were the order of the day in 2017, security token offerings seems to gradually be taking over. In fact, crypto experts think this is the future direction of the industry.
This is not surprising seeing as STOs offer increased stability and the necessary confidence needed to take this industry to the next phase of growth. Ruan believes that to be the case too:
“Tokenizing securities involves bringing traditional securities from the analogue world to the digital. This process removes the high costs and inefficiencies of the middlemen. Securitizing tokens involves applying traditional regulatory framework to digital tokens. This process removes much of the uncertainty and fraud of the ICO market. Security tokens will bring many benefits to both the capital markets and the real estate industry.”
Blockchain is a revolutionary technology that’s bound to change the world as we know it. From finance, to politics, to governance and even modern, everyday lives, we will soon start feeling its impact with its increased adoption.
Continents like Europe can learn a thing or two from the increased collaborations between other countries. We’ll probably see an increased number of talents working across borders without ever needing to leave their countries.
These programmers and developers will break new barriers, improve living conditions, and further launching blockchain and its tech to new heights. If you’re on the sidelines, now is the best time to get on the blockchain train. Smart folks, investment companies and even top management guys are switching over and joining the movement.