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PRESS RELEASE from provider: ACCESSWIRE
This content is a press release from our partner ACCESSWIRE. The AP newsroom and editorial departments were not involved in its creation.

[exclusive interview with EXNOW founder] The blockchain will reconstruct the business model when the bubble economy burst

March 12, 2019

ATHERTON, UK / ACCESSWIRE / March 12, 2019 / Li Kunyun, founder of ExNow Technology Co., Ltd., graduated from Beijing Foreign Studies University, and holds a master’s degree in business administration from the University of Liège. He is a member of the China National Democratic Construction Association, also one of the earliest investors and founders of the blockchain in China.

After found his feet in blockchain, Mr. Li has successively established two technical service companies with blockchain technology as the core and initiated the source capital. The projects he invested including dozens of blockchain stars such as BitShares、Ripple、Eos、Tro, and so on. He has participated in the establishment of the Zhejiang University Blockchain Association and the Zhejiang University of Technology’s Dingcheng Blockchain Laboratory. Even in the 2018, which is known as the blockchain winter, Li Kunyun did not slow down the pace of the layout blockchain.

A financial expert with solid background of investment and corporate management experience , why would he fully deploy the blockchain industry regardless of risk? What is his judgment on the future development of the blockchain industry? With these questions in mind, we are honored to have this interview with Mr. Li Kunyun.

Q: In 2018, which was called the “cold winter of blockchain”, some investors chose to exit the blockchain market. But as far as I know, you have not only reduced your funds, but have increased your investment in the blockchain industry. So what kind of considerations did you have?

“The bursting of the industry bubble does not affect my long-term optimism about the blockchain.”

The bubble in the blockchain was probably expanding rapidly from the second half of 2017. There were two kinds of people entering the market. One was those who really saw the significance of the blockchain innovation, and the other was attracted by the myth of the blockchain to create wealth.

Due to the fact that the market was still not standardized in the early stage of the industry development, many greedy speculators and project agents seized the chance to harvest the market and hit the bottom line of the consumer market. Coupled with the overall financial environment in 2018, many projects that lost their reputation or equipped with poor strength were gradually eliminated by the market. The industry bubble has gradually shattered and development has returned to rationality piece by piece.

The media and individuals who were bearish on blockchain for this were not rare. They shouted that “the blockchain has arrived in winter” and even demonized the blockchain. I think this kind of idea is uniliteral.

In my opinion, the burst of industry bubble is an inevitable process. It is a turning point for the industry, moving from barbaric growth to rational development, which is also the inevitable result of market self-purification. The so-called cold winter is actually just a crisis in the industry speculators. For those who are really down-to-earth, the spring of the blockchain is just coming.

Q: Some people say that the blockchain is a technological revolution which is more important than steam engines, electricity, and the Internet. Do you agree with that? And what do you think is the significance of its future development?

“The blockchain is not just a technology, it is more a kind of thinking. It will definitely reshape the business model.”

Many people only regard the blockchain as a technological revolution. I think it is far more than that. The blockchain brings us not only technological innovation, but also a brand new thinking transformation of business model. Decentralization, ecological and economic systems are the three keywords of blockchain business model thinking.

For example, the “mutual security” business launched by Alipay last year, absorbed nearly three million in the three days once it went on line. Its biggest highlight is the use of the underlying technology of the blockchain to create a decentralized insurance eco-economic system: if someone has been seriously ill, the cost would be shared equally among all participants.

In this new model, the insurance industry can achieve a 100% loss ratio, which is still nearly 30% higher than the traditional insurance industry even deducting 10% of the management fee.

Note: In the first half of 2017, the comprehensive loss ratio of PICC P&C Insurance and CPIC Property Insurance was 60.9%, and the comprehensive loss ratio of Ping An Property Insurance was 58.8%. (Source: China Insurance Accounting Research Center)

The best business model is to subvert the original ones. The transformation of thinking, the reconstruction of business model and the establishment of new credit mechanism, all of their pace has just begun, and we can imagine its extremely subversive and infinite prospects,

Q: You can be said to be the first batch of players in China’s blockchain industry, and most of the blockchain projects you invested and founded have achieved good results. Would you talk about which sections will you focus on in your next deployments?

Finance and games are the most direct landing areas and the most important tipping points in the blockchain. They are also the two most mature sectors in China.

This year’s investment plan and project layout will continue to focus on these two areas, and will continue to try and transform more application scenarios and business models with strong value.

The company’s operations will also focus on the technology and service support of “blockchain finance + games” to promote the blockchain market with technology and services.

Q: Since you talked about the company’s operation direction, can you tell us more about the company’s strategic plan this year?

The original intention of my company was actually: “Using blockchain technology to create more value.” This concept is still our company’s operating tenet until now. The company’s 2019 operational strategy is divided into two sections:

Building blockchain value ecological network

Promoting the sound development of the industry is the obligation and responsibility of each of our practitioners.

we will focus on the integration of high-quality blockchain projects and resources in 2019, providing a full range of technical support and platform services for the project to further promote the development of truly valuable projects; on the other hand, we will also effectively link quality projects and information to consumers in the process of resource integration.

At present, the company has completed layouts in blockchain project management investment, blockchain media, digital currency asset trading platform and other fields, which has achieved good results. Building a reliable, diversified, safe and healthy blockchain value ecosystem for the market is our ultimate goal.

Create a “blockchain game + digital asset trading” ecosystem

In addition, our company will complete the deep docking of digital currency asset trading platform and blockchain games this year, connecting major high-quality blockchain game projects to create a digital asset ecosystem in the vertical field of games. Make the platform become the entrance to the blockchain game world, and open the door to the blockchain game world for users!

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SOURCE: EXNOW GLOBAL TECHNOLOGY LTD