On March 28th, a summit was held in Beijing with leaders from both traditional and blockchain industries. Some of the notable attendees included Patrick Dai of QTUM, Robert Mao of ArcBlock and Dong Yang who runs Renmi University’s Big data, Blockchain and Regulation lab.
IOST Co-Founder Jimmy Zhong spoke on a panel titled “Can Ethereum 3.0 succeed in 2018” — which asked the speakers to discuss platform coin development as well as their vision for how cryptocurrency and blockchain will effect modern industry in the coming year. The other speakers on this panel were Sogou CEO Xiaochuan Wang, Fenbushi Capital Executive VP Wenbo Yu and Qtum founder Patrick Dai.
IOST CEO Jimmy addressed the wild expectations that have swept through the market and cautioned that the development of good technology takes time and teams that are dedicated to creating something, not just trying to make money. He also emphasized that serious investors should exercise patience and caution and stay away from projects that promise immediate breakthroughs and overnight market success.
Below is an excerpt from Jimmy’s speech at the panel:
“As a new technology, blockchain still faces many issues and limitations that cap its potential. The wild market in 2017 was extremely helpful for the development of the industry as it shone a spotlight on blockchain that attracted many outstanding corporations and brilliant individuals. This attraction of talent and capital is a crucial step in the adoption of every developing technology. Going forwards, it’s important that the crypto community pays more attention to the development of platform/foundation chains, as the technology behind these projects is crucial to the development of significant real world applications. Blockchain technology belongs to the future, we are still laying the foundations that this future will be built on. Instead of being speculative and having intense coin tribalism, the crypto community needs to work together to build this future. Eventually, only those projects that contribute meaningfully to the technological development of the industry will survive. They will become the core models for the next era of development, similarly to how Amazon and Google are guiding lights for the Internet era. 2018 will be a year of building. With success and the accumulated hard work of 2018, I believe largescale adoption will become possible in 2019.”