Friday, October 7, 2022

6 Questions for Tongtong Bee of Panony

We ask the buidlers in the blockchain and cryptocurrency sector for their ideas on the market ... and include a couple of random zingers to keep them on their toes!


This week, our 6 Questions go to Tongtong Bee, co-founder of Panony-- an incubator, financier and consultant for blockchain and Web3 organization.

I'm Tongtong Bee, the co-founder of Panony and creator and editor-in-chief of PANews. I began my expert journey as a reporter at China's conventional news outlets, consisting of China News Service, Jiemian and Cailian Media Group. Because 2015, I've been covering blockchain and fintech news as one of the couple of reporters in China to concentrate on these sectors at the time.

My concentrate on financial concerns and emerging innovations caused me being chosen to report on the "Two Sessions" (NPC and CPPCC) in2018 Which's the year my service partner Alyssa and I began PANews. We've released over 20,000 short articles with approximately over 5 million page views each month, ended up being an often mentioned source in crypto and blockchain journalism, consisting of Forbes, Caixin, CCN, and we're a main news source of Tencent News.


1-- Looking at the top 100 jobs in crypto by market cap, which ones stand apart to you-- and for what factor?

I need to state Bitcoin. Being a reporter crazy about financial research study, I got blown away when learning about its principle for the very first time.

Bitcoin is created to be a significant advance in generating income more safe, along with a substantial deterrent to lots of kinds of monetary criminal offense. It is the very first decentralized peer-to-peer payment network driven by its users without any main authority. Bitcoin now has actually altered the world and will continue changing the monetary systems in lots of nations. It stays the imaginative result in all of its present and unlimited future usages.

2-- What is the single most ingenious usage case for blockchain you've ever seen? It might not be the one likeliest to prosper!

Being part of Panony and PANews, we constantly feel ecstatic to satisfy and deal with numerous dazzling, ingenious tasks worldwide. I'm personally captivated with what they're doing at Cudos, a decentralized cloud computing platform. We understand that the cloud is expensive and central. In addition, as much as 50% of the time, the hardware is non-active or turned off, leading to low roi for business and a huge carbon footprint. Hence, the present advancement trajectory is unsustainable for the world.

The Cudos network, utilizing its cloud-based dispersed computing technique that consists of blockchain assistance, permits companies to conserve approximately 10 times more than central hyper-scale cloud platforms and hardware owners to balance out (and possibly make money from) the expense of their hardware by leasing their computational power to the network.

The blockchain market can be abundant. I'm grateful there are lots of skills out there developing a much better future together.

3-- What does decentralization suggest to you, and why is it crucial?

Good concern. The decentralized web is the unstoppable future of the web.

In the existing variation of the web, likewise referred to as Web2, individuals can't neglect the outcomes of huge corporations managing what takes place online: individual information being tracked and offered without our authorization, loss of power for our contents, being controlled by advertisements ... Most of the web is centralized. Web3, which looks for to considerably reimagine how we style and communicate with apps from the ground up, will repair a number of these problems. There are a couple of basic distinctions in between Web2 and Web3, however decentralization is at the heart.

The Ethereum network is presently the biggest decentralized network, with access to countless decentralized applications. With a concentrate on digital ownership, the making capacity for material developers and the innovations of brand-new methods to invest has actually increased. And in a decentralized web, people can manage their information, not some mega business or anyone else.

4-- List your preferred sports groups, and pick the single most unforgettable minute from seeing them. If you aren't a sports fan, select a couple of films and a minute!

As a winter season video game lover myself, my memories of the Beijing 2022 Olympics are still fresh! Eileen Gu winning 2 gold medals and one silver at a single video game is definitely a complimentary ski feeling. Not simply seeing her stunning relocations is jaw-dropping; I likewise appreciate her consistent efforts to motivate ladies. I'm likewise honored to have actually made the Forbes China 30 Under 30 in 2020 with her (various list)!

As a female business owner, I appreciate her spirit of adhering to objectives, challenging the status quo, pursuing dreams with enthusiasm and continuous effort. It offered me strength when my organization partner Alyssa and I began our service together.

5-- If you didn't require sleep, what would you make with the additional time?

I actually want I do not require to sleep so I can do more things that intrigue me. I would most likely learn more books since I constantly discover it remarkable to learn more about something brand-new. Throughout the two-month lockdown in Shanghai, I outgrew a routine of indoor badminton workout and will keep doing that, doing it appropriately outdoors.

I'm incredibly grateful that my spouse and I share lots of pastimes, and among them is to compose a book together on marketing in Shanghai. We're likewise rather thinking about making documentaries for Chinese folk artists and hope the world might see them one day.

6-- What's the future of social networks?

We visualize the future of social networks is owned by material developers, neighborhoods-- not specific platforms that manage the stories. This is what Web3 brings us. Decentralization might be the plan for the future of social networks: Users might have direct access to the decentralized platform; no central authority can determine the guidelines of engagement and money making; social networks will end up being a freer area while likewise approving content developers complete ownership of their properties.

Decentralized self-governing companies (DAO) are an unique method for online social company that will have significant ramifications. Characteristic of DAOs are most likely to have a huge influence on business of social networks. Blockchain tokens have the possible to alter that plan by permitting developers to monetize their fans utilizing a number of the exact same techniques that DAOs utilize to reward their members for contributions.

We have actually seen pleas from users that Twitter might have the prospective to move the power balance and to be changed into a Web3 platform. We're likewise grateful to see a few of the jobs, consisting of Only 1 and Rally, are devoted to improving social platforms and reconstructing the social and developer economy.

A long for the young, enthusiastic blockchain neighborhood:

Our neighborhood requires more contractors who have a warm heart and a cool brain. Less FOMO, more persistence. And confusion is excellent: It makes individuals consider themselves.


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