[Comparative Interview] Sun Yuchen: The ambassador is “one country's heavy equipment”. Future work may connect with Li Chenggang, the Chinese ambassador to the WTO. The encryption industry has matured to the point where it needs to interact with sovereign countries

The government of the eastern Caribbean island nation “Grenada” officially appointed Sun Yuchen as its permanent representative to the World Trade Organization (WTO) and an extraordinary and plenipotentiary ambassador, and authorized him to represent Grenada at WTO meetings during his term of office. Wang Feng, editor-in-chief of the Chinese website of the Financial Times, commented that this is an important collaboration between the crypto community and a country's government, opening up more opportunities.

As a “star” in the blockchain industry, Sun Yuchen is well known for creating Wave Field TRON. According to its official data, Bochang has become one of the top three public chains in the world, with more than 67 million users. The Bochang Agreement processes more than 10 billion US dollars of transfer transactions per day, and the assets on the chain exceed 60 billion US dollars.

Regarding the transformation of the new identity, Sun Yuchen issued an open letter stating that the Wave Field Foundation decided to be dissolved on July 25, 2021, that the three supernodes associated with it will be completely withdrawn this month, and that the Wave Field Agreement is now completely decentralized.

We have an exclusive conversation with Sun Yuchen, founder of TRON, to unravel the story behind his withdrawal from TRON and becoming a WTO ambassador.

The following is a transcript of the interview:

Comparative:Why is Grenada represented at the WTO? What's the story behind it?

Sun Yuchen:I am personally optimistic about the role that Caribbean countries will play in the future blockchain and digital currency economic development process. First, Caribbean countries are very close to the US; they are more aware of emerging technologies such as blockchain digital currencies. Second, their regulations are not as strict as the US.

In fact, I've spent quite a bit of time in the Caribbean since last year. I've been to St. Kitts, Belize, Bahamas, Panama, Dominica, and Barbados before. I probably know more about the Caribbean than the average person. I've also met with local prime ministers, including the Prime Minister of Barbados, Panama, the Bahamas, and the prime ministers of Dominica, not to mention Grenada, so I actually know the entire Caribbean region quite well. I think they are also very passionate about the blockchain and digital currency economy.

Grenada has always wanted to find someone with an international perspective who can contribute to Grenada in emerging industries such as the digital economy and blockchain. Then I chatted with the Prime Minister and Foreign Minister. They were all very satisfied with my resume and experience in this area.

Comparative: Then you have to join their nationality.

Sun Yuchen:Right, yes. I'm now a citizen of their country.

Comparative: What do you think about the shift in status from a crypto entrepreneur to a country's ambassador?

Sun Yuchen:People may think that crossing borders is quite large, but I think this is actually a new stage. I think now the entire crypto industry has reached a time where it needs to interact closely with sovereign countries, regulators, and international organizations, because after all, the size of our entire industry has reached this point.Currently, the entire industry is about 2.2 trillion US dollars, and it is a deeply rooted state. I think we need more countries to fight for sovereignty, the international organizations/multilateral diplomatic relationships behind them, and the recognition of most people at the global level.

So I think our diplomatic status is not only for Tron, including the entire blockchain industry and the cryptocurrency industry; I think this is also a very important opportunity for us to show it on the international stage.

I hope not only can the WTO play a role in advancing Grenada's national interests, but also push the blockchain and cryptocurrency industry to a different level. I'm probably the first person in our industry to become an ambassador, so I think it's a new thing, but it's also a thing that crosses the ages.

Comparative:If you return home in the future, Foreign Minister Wang Yi will have to meet you.

Sun Yuchen:I'm afraid to talk about Foreign Minister Wang Yi, but the representative of China should be Li Chenggang (Ambassador Extraordinary and Plenipotentiary of the Chinese Delegation to the WTO); he should be our interlocutor.

Comparative:There will be people who think this is hype; what would you like to say to them?

Sun Yuchen:First, this is definitely impossible. The ambassador is a heavy national tool, right? In the past, people may have joked that I spent 4.6 million dollars to shoot Buffett's lunch, but after all, China's WTO chief representatives, including special ambassadors, also serve as vice-ministers of commerce and assistant ministers, so this is quite important. Of course, I'm also on thin ice. This time, I'm hoping to get this errand done seriously.

Comparative:This is indeed very different from your previous experience. Do you think it's very challenging?

Sun Yuchen:First of all, you're absolutely right; I'm definitely very excited because it's a new position after all. Second, it is true that I am also a bit nervous. Of course, I am also strengthening my studies recently. I think after all, I am representing Grenada at the WTO conference. There are 165 countries in the WTO. I hope I can represent the interests of the good country Grenada, the interests of the people of Grenada, as well as the interests of developing countries, including the interests of the blockchain industry and the interests of the digital economy. I think I still have something to learn.

Comparative:What about Tron?

Sun Yuchen:First of all, we are a completely decentralized agreement, so now we only have 3 super representatives left. We have a total of 27 super representatives, then only 3 super representatives left, and now the mission is over. Since then, our Wave Field Foundation has all been dissolved. Currently, I think we are in a completely decentralized stage. In fact, whether it is its development or specific future contributions, it now mainly depends on the community. Just like Ethereum, it is a completely decentralized role.

Of course, personally, I will do my best to help TRON grow, fund developers on the wave market, and carry out more development on the wave market, including our BitTorrent Chain, JST, and NFT Win. Our layout in the GameFi and DeFi fields will continue, but of course in the future, everyone will know me more as Grenada's chief representative and full special ambassador to the WTO.

Comparative:What are your thoughts on the future of the crypto market?

Sun Yuchen:I think in fact, my overall mood in the current market is still quite optimistic. I think it's normal, because from the beginning of this year to now, the overall rise in cryptocurrencies is also quite astonishing. I think if there is an increase or decrease, there will naturally be some adjustments, but I am still quite optimistic about the current future of cryptocurrencies as a whole.

At the same time, we now see that the development of cryptocurrencies around the world is quite optimistic. ETFs were not only launched in the US, including Europe; in fact, our market was also the first ETF approved by European regulators, so I now think that the crypto industry may not just be people in our previous industry or retail investors watching this industry; more and more financial institutions and large investment institutions are beginning to pay attention to this field, so I am personally confident about the future of crypto.

Comparative:Do you think this bull market is over?

Sun Yuchen:I don't think it's over yet. First, I think people may think that the recent decline may be related to the Federal Reserve's attitude of raising interest rates, but at present, I think the growth of the entire industry is still far greater than its increase. So I currently think, uh, the bull market in our industry will continue. Of course, I'm afraid to say how long it will last.In layman's terms, it is currently in a state where “cows are still around.”

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Author: Susan Feng Mary Liu

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