CoinTIme, the blockchain professional media, today invited the director of Coinplug Yin Haocheng. Director Yin Haocheng maintains a close relationship with Vitalik Buterin, Roger Ver and others, and is known as the “global network person†in the blockchain industry. Let's take a look at what the company in the blockchain industry is like and what kind of development plan it will have in the future.
Q. Director Yin Haocheng, hello! Thank you very much for your interview with our CoinTIme blockchain veteran. First of all, please introduce the coinplug.
Yin: Hello! I am Yin Haocheng, director of coinplug. Founded in 2013, Coinplug is a blockchain-based technology company with 136 patents and is the world's second-largest company (IBM third). When I founded the coinplug exchange, I was attracted by the charm of blockchain technology. The first service launched afterwards was a simple authentication solution to replace registration certification (2014). For reference, our company has many world first titles. We created the world's first private blockchain. At present, we have created various solutions based on them and provided them to financial institutions (Modern Credit Card, KB National Bank Credit Card, Shinhan Bank Credit Card, etc.). Take the KB National Bank card, the cooperation with the National Bank began last year, but the number of transactions has exceeded 80 million. The most important thing is to use our solution, the volume of transactions per second can be as high as 3,000.
Let me clearly establish the values ​​of life that "even if you are a little later than others, you must advance correctly and correctly understand".
In fact, all things are done by people and belong to people themselves.
Q. As everyone knows, Yin representatives and Vitalik Buterin, Roger Ver and others know that they have a wide network of contacts. In particular, I heard that you are a "Korean friend" of the talented developer of the Ethereum, Vitalik Buterin. What is your relationship with him?
Yin: After trying to do a lot of business, I experienced successes and failures of big and small, so I came up with the values ​​of life, "even if I am a little later, I must advance correctly and understand correctly." In fact, all things are done by people and belong to people themselves. It was officially associated with Vitalik Buterin at the blockchain conference held in South Korea in 2014, when Vitalik Buterin visited Korea as a keynote speaker. Before that, we contacted by e-mail and agreed to meet if we came to Korea. When he visited Korea, he lived in a remote place through Airbnb, so I booked a hotel in downtown Jiangnan and arranged meals. At that time, we had a close relationship, and now he is a technical consultant for coinplug. Vitalik Buterin is an upright young man. Smart, but not greedy, but love technology, is a promising young man who wants to change the world through technology.
Q. It is said that you and Hangzhou Wanxiang Group, which is using blockchain technology to build smart city, also have a fate. Can you introduce your relationship with Wanxiang Group's blockchain expert VC, distributed capital?
Yin: Every year, Wanxiang Group will hold a Wanxiang blockchain meeting in Shanghai, and Vitalik will participate as a consultant. Shen Bo, the person in charge of distributed capital, became a friend after I met Vitalik. If you go to the United States or China, or if Shen Bo comes to Korea, we will definitely meet.
Q. Yin Li has a lot of entrepreneurial experiences in various fields. Can you tell a few stories about your successful business?
Yin: I like food very much, so I think I should do business in the restaurant industry. My "Small Gongdong Tofu Soup" in the United States paid for the recipes and recipes. I opened a tofu food store for Chinese people in San Francisco. The business is very good. I opened three branches in Chinatown and bought them at the beginning of the year. The store sold at twice the price. Later, I began to do business in buying and selling electronic set-top boxes. The initial sales were negative, although the technology was good but not well publicized. The way I think of it is to use the “negative marketing†strategy: to slap our company on the forum, the purpose is to raise awareness and win by quality. It has annual sales of 15 billion won, which is a "big success" for a company with only seven employees. From 2006 to 2010, I learned a lot from all over the world and I was very happy.
Q. It turned out to be the foundation of success in such entrepreneurial experience. In this case, what kind of opportunity did you join Coinplug?
Yin: Now that the Coinplug representative has read the white paper, he has collected scattered members. We know it through Cisco Systems, and it has been 18 years now. I used to be in the Department of Computer Science at Berkeley in UC, but when I first attended the professional class after entering the school, I felt that "this is not the way I want to go", so I switched to economics. During the school, a toy store was opened, but there was a riot, and the store was burned down by the fire. There was also a riot in the operation of the jewelry store. At that time, I felt that it was not the time, so I went back to school, but soon I started a cleaning service with my friends and a shuttle service to the American Church. I went to Goodyear Tire Company for a while before entering venture capital firm Exio Communica-TIon.Inc, a communications equipment manufacturing company that was acquired by Cisco in 1999 for $165 million, so I also After four years as a financial analyst at Cisco, the fate of the time has come to the present. I have just talked about some successful examples, but in fact, in the process of starting a business or doing business, everyone will experience success and failure. In the fall of 2013, after reading the book of Satoshi Nakamoto, the representative of Dashan contacted me to see me.
If you only value money, you will not be able to understand the essence of business, which will cause problems and lead to loss of both people and money.
So, although we started from the Bitcoin exchange, we know that the essence of Bitcoin is the blockchain, so we are focusing on technology development.
Q. What are the key parts of the Coinplug process?
Yin: What I felt when I was doing various projects was that if I only valued money, I could not understand the essence of business, and it would cause problems, leading to loss of both people and money. So, although we started from the Bitcoin exchange, we know that the essence of Bitcoin is the blockchain, so we are focusing on technology development. There are about 50 Coinplug employees, 30 of whom are development professionals, and each has their own areas of expertise. Based on the company's outstanding technology, we will find a team with strength and innovation to build an incubation space to help start-ups grow. Not only Korean companies, but also foreign teams, they are scheduled to open in Singapore and Seoul. The CPDAX exchange was re-established based on technical strength.
Because each country's currency, economic system and online identification methods are different, it leads to many inconveniences in life.
I thought about whether we could solve these problems through blockchain technology and change the world.
Q. Soon the final stage of the interview. I would like to ask the director to talk about what you want to achieve in the blockchain industry.
Yin: My goal is to use blockchain technology to improve my life and achieve a wide range of services. I still have the ambition of "want to change the world." When I entered the blockchain industry in 2013, I looked at the mirror every morning and thought, “Do you want to change the world today?†I am always excited when I go to work, when I go to the bank to teach blockchain technology. Everyone said that I was a 'crazy', but I personally believed that my approach was correct. Because each country's currency, economic system and online identification methods are different, it leads to many inconveniences in life. I thought about whether we could solve these problems through blockchain technology and change the world.
Ten years later, although my image may not be as good as now, my thoughts will definitely improve. I want to dig out good companies, develop quality projects for them, and help them develop smoothly. Thank you!
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