Founding Partner of PreAngel Fund and SoCo Advisor Leo Wang gives keynote speech at Blockchain Connect Conference
JULY 4, SINGAPORE. Founding partner of PreAngel Fund and SoCo SNP Advisor Leo Wang gave a speech about how the new token economy has revolutionized angel investment at the Blockchain Connect Conference in Silicon Valley last week.
The event, held from June 26 to 27 at the San Jose Convention Center, featured over 50 speakers, 30 crypto pitches, 80 startups, a hackathon, and a blockchain career fair. Besides Mr. Wang, speakers included a board member of the Bitcoin Foundation, top management from other successful cryptocurrency startups, professors from prestigious universities, and other influential and experienced voices in the blockchain community.
Wang, who considers his investments “his life mission”, helps manage assets totaling 1 billion RMB. He has invested in over 300 technology startups in both the United States and China, benefitting projects focused on the mobile Internet, intelligent hardware, medical health, the sharing economy, financial insurance, etc.
Wang’s company ventured into the world of blockchain in August 2014, and is now an angel investor for NEO and Oben PAI. PreAngel is also involved in a private equity round of blockchain projects including Ontology, QuarkChain, Gitfo, Protocol, etc.
During his speech, Wang emphasized the advantages of tokens over traditional equities. As angel investors, he said, they are thankful for the recent blockchain bubble because they can make money by buying low and selling high, rather than rely on the nonexistent profits of dividends.
Token exchanges are very loosely regulated, and are mostly traded by irrational retail investors, Wang said. Furthermore, the value of a token possesses instant liquidity and is naturally derived from the worth people place on it. In this way, “consensus is the money printer” and “community is the future”.
Consequently, the need for central banks and bureaus is effectively removed. Centralized roles in society “kill efficiency” and increase costs, Wang said, and thus the token economy would overall better the future standard of living.
“That’s the reason I’m dumping all of my equity and embracing tokens,” said Wang. “I have 300 companies’ equities to dump for the following 10 years.”
Wang presented several other blessings inherent in the token economy, including a segment on the very popular concept of the ICO. ICOs actually enhanced angel investments, he said; as opposed to the IPO, which requires much more time to obtain, ICOs are able to garner more innovation. Although it’s true that most ICO tokens will eventually die out, many have the necessary opportunity to gain investors if needed, and such investors can cash out before the tokens become extinct.
With his years of experience as a major investor and his firm passion for the blockchain community, Wang will serve as a member on SoCo SNP’s advisory team for the years to come.
To view Wang’s full speech, click here.
LEARN MORE ABOUT THE SOCO SNP PROJECT:
*Video Explanation: https://youtu.be/6rzqektoUZA
*Website: https://soco.social
*Whitepaper: https://github.com/soco-snp/whitepaper/raw/master/social_coin_white_paper.pdf
SOCIAL MEDIA:
- TWITTER: https://twitter.com/SoCoSNP
- FACEBOOK: https://www.facebook.com/SoCoSNP/
- Telegram: https://t.me/socoSNP
“SoCo and SNP is a blockchain-based project aimed at decentralizing the social networking ecosystem. SoCo, the official token currency, is what users will use to evaluate and monetize their social assets. Social assets are the valuable online data a user possesses, which include personal profile attributes (name, hobbies, status), social relationships (friends, followers), and social behaviors (likes, posts, sharing). Users and apps alike are able to use SoCo to conduct transactions, allowing apps to incentivize users to invite friends and engage in the app’s activities while rewarding users for their social assets. This promotes a healthier, more trusting relationship between apps and users. SNP is an open and extensible layer protocol that allows apps to have social capabilities, as well as provides users with a secure wallet of social assets, accessible by the user’s private key only. Ultimately, SoCo SNP plans on returning the ownership of social assets back to users and deconstructing today’ social networking structure in order to provide the world a more transparent, interconnected and innovative online experience.”
