Summary of Bo Wang, Founder of Delphy’s Interview with Hecaijing

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Delphy

6 min readMay 21, 2018

We are glad to update you that Hecaijing, renowned media outlet in the blockchain industry in China interviewed Bo Wang, Founder of Delphy. Bo introduced Delphy’s prediction markets platform and shared his own experience in the blockchain industry and his advice to new entrepreneurs who would plan to join in the blockchain industry.

Hecaijing: Hi Bo, could you please introduce yourself and and your entrepreneurship experience in the blockchain industry?

Bo Wang: Hi, thank you for having me here, I am Bo Wang and I started my journey in blockchain industry since 2013. At that time, people talked more about bitcoin than blockchain. My friend, David Johnson, entrepreneur and the co-founder of Factom, told me that he was a true believer in Bitcoin and not only bought Bitcoin at $10, he went all in. You know the bitcoin price was $500 the moment he told me about it. Before I thought it’s unbelievable to issue digital assets on the internet, but after this, I researched everything about bitcoin and realized that Bitcoin can truly allow online payments to be sent directly from one peer to another, which can resolve the problem of relying too much on the third party due to the lack of trust between the two parties.

Then we started to search for the next “bitcoin”. We found Ethereum, a better version of bitcoin as it allows anyone to write smart contracts and decentralized applications! In 2014, we noticed Augur and that’s where we started our interest and research about prediction markets. In 2017, Delphy Foundation was registered in Singapore, then we crowd funded, started to build our community, and have been working very hard on the product development. And now, we are very proud to announce that Delphy will launch our product in June!!

Hecaijing: The FIFA World Cup 2018 Russia is approaching. What do you think of the combination of the World Cup and blockchain?

Bo Wang: Generally speaking, most of the blockchain projects can be divided into 2 categories, Public Chain and Decentralized Application. Public Chain, take Ethereum as an example, is to create an alternative protocol, or foundation, for building decentralized applications.

Delphy is on a journey to a fully decentralized prediction market ecosystem, and now our initial step is a Decentralized Application. From the very beginning, we believe that prediction market is one of the best application in the blockchain industry, which can bring social value. For example, some American government agencies, like CIA, used to use prediction markets to improve upon existing approaches to preparing strategic intelligence.

We also noticed that prediction market is a new concept in China, but as in the rest of the world. Prediction markets can help Chinese government and companies make effective and efficient decisions. That’s why we chose prediction market to be our project, as the product can be launched, there’s a real business model, there are extensive application markets, and people can truly like and enjoy it.

After over a year’s hard-working, Delphy will launch our product this June, which is right before the FIFA World Cup 2018 Russia, and we do have plans to take advantage of the once of every 4 years occasion. For example, there’s will be a World Cup session on Delphy App, where you can not only predict the games, but also related topics, such as the players, cultures, values, etc. We will bring interesting and fun experience to you, more than just the game itself. We will also have various kinds of promotions and prizes up for grab, stay tuned, more details will be disclosed soon.

Hecaijing: As an early blockchain investor and a successful entrepreneur, could you please give some suggestions and advice to the new entrepreneurs in the blockchain industry?

Bo Wang: I am a serial entrepreneur and have been in blockchain industry for quite some years, the first advice I’d like to give is to make sure this project is what you really want to do before you take action.

On one hand, crowdfunding makes the project a lifetime “liability” to the founder. Compared with a couple of VC investors, crowdfunding makes the founder face a community, a lot of time it’s an international community. You are responsible for them and this responsibility is difficult to hand over to others, which means you have to make sure this project is or can be a lifetime project for you, then you are ready to work hard for it and together with your community.

On the other hand, crypto exchanges don’t close, it’s 24*7, international community doesn’t shut down, it’s 24*7, which results in the pressure to the founder is 24*7. So are you ready to face this tremendous pressure? This is another reason that I suggest you think twice before you jump into a project.

The second advice to you is that perseverance is the key and it’s really a marathon. Crowdfunding probably is the easiest step, while to launch a product, and to launch it faster and better than your competitors, then to realize the internationalization are all huge challenges.

There are tons of opportunities in the blockchain industry. If you make sure it’s your lifetime dream and are prepared, then welcome to the high-paced, huge-pressured, and exciting industry full of potential!

Please watch the video interview at https://api.hecaijing.com/index/m/videodetails?id=15260399250025592&from=groupmessage&isappinstalled=0

Thank you for your continuous support.

About Delphy

A Decentralized mobile social platform for prediction markets.

Delphy is a decentralized, mobile prediction market platform built on Ethereum. The Delphy App is a light Ethereum node running on mobile devices.

Delphy uses market incentives to allow participants in a market to communicate, instantly and transparently, their wisdom regarding the outcome of upcoming events, effectively predicting the future. We design Delphy from the start to be decentralized, which makes it difficult to manipulate prediction results.

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