[Exclusive] Han Feng, co-founder of Yilaiyun: I saw the future

If you're in2010Buy it every year1000Bitcoin in US dollars, then2017The year will be close1.28One hundred million dollars.There is no price for anything in history. Even Dutch tulips back then, the French Mississippi company bubble, and the South China Sea stock bubble in the UK could double so much at their peak.Is Bitcoin speculative in a new era or is it representative of new technology born in a new historical era?

Han Feng, co-founder of Yilaiyun, has his own unique opinion on this. Han Feng is in2013I have been involved in Bitcoin for the past year, and have been in the limelight of digital currency, winning the top poker cards in the coin industry. What sets him apart is his background as a PhD in quantum mechanics. Although he has gained huge wealth by investing in Bitcoin, what he is most interested in is a life need or hobby that comes from his heart, that is, being able to have a more self-satisfied explanation for the whole world. That's why it appearedBitcoin? Why did blockchain come about? Why does Bitcoin have the current price trend?

Blockchain is the new continent of wealth

Han Feng is currently a visiting scholar at Columbia University.I met him at a coffee shop in Columbia.He's wearing a half-length jacket.Carry a backpack. It's like studying hard in a foreign country. Because he wanted to improve his English, he insisted on using English for interviews. 

He compared blockchain technology to the year Columbus discovered a new continent.

“We have discovered a whole new continent of wealth,” Han Feng said,“Its scale was unimaginable before.”

why?

 “ Because Bitcoin was the first digital asset. Blockchain technology can confirm the authenticity of personal data.You can own your own data and transfer it to others; the data becomes an asset.” 

Han Feng's theory is,In the internet age, people think data is free and has no value. But now privately designed Bitcoin has solved this problem. The data can belong to individuals,It's a leap from zero to having real value. That's why bitcoin is so valuable. In other words, Jews have successfully enabled the world to measure the value of love with diamonds, and blockchain has made it possible to measure the value of personal data.

Han Feng is now at the Huawei Central Research InstituteblockchainAdvisor, Blockchain AsiaDACASecretary General of the Association and editor-in-chief of “Blockchain's New Economy Blueprint and Guide” and “Blockchain~Monographs such as “The Quantum View of Wealth”. He likes to track the value of blockchain from a historical perspective.

 In a conversation with Xu Xiaoping in January,Han Feng said,“I discovered that it is not technology itself; it is precisely in the context of the entire history of human economic development, financial development, and the current Internet economy that it is possible to explain why the current blockchain boom has arisen, and the emergence of such digital currencies, including their price and value.”

Going back to its roots, Han Feng believes that for the first time in human history, Bitcoin has confirmed digital rights on the Internet.Originally, it's completely unclear who the numbers on the internet belong to.What do you rely on to confirm authority? Cryptography and private key signatures are no different from the principles of checks. You have a private key, this number belongs to you, and you have confirmed your rights, just like a real estate certificate.

Second, the contract can be transferred.With blockchain for network-wide accounting, it can only be transferred once, and cannot be copied repeatedly. Since then, numbers have entered an era where they can become wealth, so the logic is simple. The biggest promise of blockchain technology is that everyone's numbers can become their own wealth.

  Poor dad and rich dad

“Poor Dad and Rich Dad” is an enduring book about how individuals accumulate wealth. The difference between poor dads and rich dads is that poor dads only take salary testsThinking about the moment, I'm a consumer. Rich dads believe that wealth belongs to the future,To invest and obtain future value, it is an investor. In a traditional society,There is usually a big difference between poor dads and rich dads.Many people only earn a salary for the rest of their lives and become poor dads. Very few people can create value for the future.

Han Feng believes that blockchain brings poor dads together with rich dads. The distance between consumers and investors is shrinking.

 “Using blockchain, consumers can obtain some data, and may also create value for the future.” Han Feng explained Taobao and JD as examples.

There are points for Taobao purchases,This credit belongs to Taobao.It can be decentralized on blockchain,Points can be exchanged for any currency with anyone, provided that these points are limited in quantity, cannot be changed, and can be confirmed through blockchain.For example, JD regulations are issued every year10，000 point,So if someone saved up points for shopping at JD in the first year, 10After a year,Then the value of these points will increase a lot.

“This is what unites the Chopper Party.” Han Feng said with a smile.He discussed this process in detail in an article of the same name.

The value of a stock is equal to a discount on its future cash flow,“Let's connect the chisel party” ThisThe process is quite similar to the stock market.The stock market is full of repetitionRegulated and managed by miscellaneous agencies,However, blockchain is not managed centrally to drastically reduce the cost of credit,So it's more valuable and has more potential.

Bitcoin is the gold of the future

When asked by Xu Xiaoping to explain Bitcoin in the simplest and harshest sentence,Han Feng said,“Bitcoin is the gold of the future.”

 “ Look, gold has all the characteristics of Bitcoin.” He explained to me,“Why gold is valuable in human history is nothing more than a consensus.”

The reason why gold is called consensusFirst scarce, Bitcoin is the only one2100Tens of thousands.Second, physico-chemical properties,Third, the world distribution is relatively scattered.Fourth,Mining requires a certain amount of labor. This is exactly what Bitcoin has.

Han Feng's background is quantum mechanics.

“The easiest thing about quantum mechanics is to give us a new worldview. The world you see also has an invisible world, and it is also an undefined world.This is very different from Newtonian mechanics. Newtonian mechanics only describes what is seen.”

“When I came across Bitcoin, Bitcoin is actually an invisible world; an invisible world must be described using big data.But it's definitely worth it.In the past, we had no way of verifying rights and valuations; finally, we have blockchain.We can value it.” 

 Han Feng2013At the time of the year, my first business was at a low point. I sold Yunzhou, an educational institution I founded, and prepared to concentrate on quantum mechanics research. They were also facing financial difficulties at the time, and they were a bit hesitant to buy a high-speed rail ticket.

 “ It was at this time that I came into contact with blockchain and Bitcoin.I feel like I've seen the future.”

He feels that technology alone cannot explain the true value of blockchain. Discuss these situations with some economists and people in the financial world. It needs to be explained from an economic theory.

Zhou Ziheng, a former member of the Academic Committee of the Ali Research Institute, has grasped the explosion of transactions, one of the most important characteristics of the Internet economy. Zhou Ziheng's ingenuity was to combine the big explosion of transactions with100This is similar to the industrial revolution that developed in England many years ago. He clearly stated that the explosion of production in the industrial revolution caused humans to escape scarcity for the first time, because production can be carried out on a large scale completely independent of time, place, or environment. However, transactions are actually still at the level and state of the handicraft era, so transactions are a bottleneck.

However, the sudden rise of the new Internet economy has broken through a new bottleneck.Humans can integrate high information technology and computing power into the sales field. Sales have also changed from the manual state of the original handicraft industry to a kind of social marketing. Zhou Ziheng raised it to the same level as the original industrial revolution and production explosion, defining it as a new stage in the history of economic development in human history.

“He found the true value of Alibaba” Han Feng said,“I followed him to find the true value of blockchain-Credit resources.”

 Han Feng moved forward by adhering to Zhou Ziheng's clue. Blockchain solved a fundamental problem, that is, it can enable everyonebig dataYou can confirm your rights, and become a credit resource and become wealth.

 “ If blockchain were to do this, all of a sudden, all of our economic fields would pop up new credit resources like the discovery of large gold mines. For the first time in human history, we have entered where everyone can generate their own gold. In fact, your gold is your big data because big data is valuable.

 With this belief in blockchain, Han Feng is fully committed to Bitcoin. 

“I never predicted the value of Bitcoin,I have a belief in it,I believe in it.”

This belief paid him huge dividends. He started going all in with over a hundred dollars. Then he dropped almost all of it when Bitcoin was worth 20,000 US dollars. Then the angel investment came back to the cloud, and the profit was several hundred times greater

 “You have to have faith,If I don't have faith,It's impossible for me to spend close4I spent a year studying Bitcoin,Get huge wealth,I can't do this if I don't have faith.”

Bitcoin will drop to3000US dollar, investing in cryptocurrency is a surfer?

 The acquisition of wealth made Han Feng feel more free than ever before.He cooperated with Chen Rong to create Yilaiyun.Use blockchain technology to upgrade the operating system. At the same time, I was studying and speaking in the US, and recently I am preparing to start a special course on blockchain at the University of Chicago.

“I can do things I never dared to think of before,” Han Feng smiled,“I don't want to just be happy in action,I prefer to have mental happiness.”

Stock god Buffett is his idol. Stock God's investment philosophy and simple life have had a great influence on him.

Han Feng is currently living in a student apartment at Columbia University. The furnishings are simple; it's just a table, a bed, and a bookshelf. 

 “I'm not the kind of person who has to live a busy life if he has money.Quite the opposite,I want to continue to live a simple life,Because a simple life makes you think better,I get the greatest happiness because I think.”

However, as a trendsetter in the cryptocurrency market, Han Feng believes that technically speaking, stock giants are just runners on land. There will also be ups and downs, but there are nothing but hillsides and depressions. They became surfers because of the fluctuation in the price of the coin. The waves experienced were unimaginable for a track and field athlete.Some may even drown people, but after all, there are people who like to surf. 

“ I'm proud to finally get used to surfing. They don't have a common language with their long-distance runners. Because they have no experience to communicate with each other.I'm used to the surfing environment,”

What do you rely on to judge?

 “Experience, eventually passing4Over the years, I've really accumulated a lot of experience. I think surfers have faced many life and death moments just because they are excellent. There was also a big wave that wanted to shoot him to death.But he rushed over. Well, he will have experience later,If you encounter this situation, how do you deal with it in the future,How to judge.”

Regarding the current trend of Bitcoin, Han Feng said,“It's definitely going to drop, until3000 The dollar wouldn't surprise me either.”

 However, blockchain will not be a short-lived technology; it has the potential to bring fundamental changes to human society. The biggest change is likely to be in the financial sector.

Han Feng recently and J.P. Morgan's chief economistJames GlassmanDiscussed cryptocurrencies. Although the two had different backgrounds,It was difficult to agree right away, but a consensus was quickly reached: the future management of digital asset wealth is a huge opportunity for Wall Street.

 “There are so many fund managers managing assets,Now it's a continent of new wealth,” Han Feng said excitedly,“People in the financial community want to go to the new continent to manage this wealth. Wall Street is very excited about this.I think if some industries can generate user data, you can make a difference in the blockchain field,Because if you can create data,There will be great opportunities for you to establish your own territory with consumers in the digital wealth kingdom of the future.”

Author Susan

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