Entrepreneurship Nightmare(A)
I am Kay LIN, the wife of the founder CEO of Coinxp Trading public chain, Liangliang. Meanwhile, I also participated in the initial fundraising of the CoinXP public chain. Today I want to talk about our initial motivations of having this venture, startup, and my thinking regarding the development of the China digital currency industry as one of the Blockchain entrepreneurs.
In 2017, the blockchain and the digital currency market flourished. With a sensitive sense of high-tech development, my husband Liang Liang and his partners majored in Computer science believed that blockchain technology is the largest technical revolution since the Internet. The size of Crypto currency might Exceed the substantial economy, after a series of surveys, we found that the mainstream digital currency exchanges are centralized. Although the user experience is better, due to the lack of supervision, the digital assets of investors are exposed to risks, such as black box operations and asset misappropriation. The well -known Mt Gox. Exchange, which was handling over 70% of all bitcoin (BTC) transactions worldwide by early 2014, when it abruptly ceased operations amid revelations of its involvement in the loss/theft of hundreds of thousands of bitcoins, then worth hundreds of millions in US dollars.
After a series of brainstorms, the team decided to use the blockchain’s outstanding decentralizing characristic to develop a vertical blockchain with high-performance, low cost and enabling cross-chain transactions focusing on Digital Asset Exchange. The vertical public chain, all data are recorded on the blockchain, all the data are open and transparent, and it is impossible to tamper. The overall goal is to create a blockchain –based trading platform that focuses on digital assets. Based on such concepts and goals, we have formed a team that brings together high -tech talents in China and the States. Nearly ten members have graduated from China -US first -class universities, including Tsinghua, Peking University, University of China Science and Technology, Stanford University, Georgia Tech Institute etc. Everyone works in well -known technology companies, including Google, Amazon and IBM. Our project has also been recognized by mainstream venture capital funds. A total of more than 20 professional investment companies invested more than 10,000 Ethereum(ETH), worth about 200 million yuan. Investment companies include Danhua Capital, Node Capital, Consensus Lab, Tsinghua Alumni Fund, Neo Global Capital, etc.
After getting the investment, China vigorously encouraged the development of blockchain technology and calling on overseas talents to return back to China to start venture startups. Therefore, the team decided to return to China with technology, talents, and capital to serve the motherland with actual actions. After more than a year of hard work and development, we basically achieved the technical plan of the white paper. During the project development process, we also achieved a series of results. The talent even includes Vitalik, the founder of Ethereum, to discuss the prospects of cutting -edge technology and decentralization. We have a total of more than 500,000 rows of coding program, and the source code of the project has been audited by the industrial well-known authoritative code audit company. The Coinxp trading chain we established can even be applied to commodity transactions, providing traditional finance with a blockchain -based decentralized bookkeeping, which can make financial securities more transparent and easy to regulate. This is a real project with major innovation.
Stay tuned….
