6 Questions for Tongtong Bee of Panony – Cointelegraph Magazine

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We ask the buidlers within the blockchain and cryptocurrency sector for his or her ideas on the trade… and throw in a number of random zingers to maintain them on their toes!


 

This week, our 6 Questions go to Tongtong Bee, co-founder of Panony — an incubator, investor and adviser for blockchain and Web3 enterprise.

I’m Tongtong Bee, the co-founder of Panony and founder and editor-in-chief of PANews. I began my skilled journey as a journalist at China’s conventional information retailers, together with China Information Service, Jiemian and Cailian Media Group. Since 2015, I’ve been masking blockchain and fintech information as one of many few journalists in China to concentrate on these sectors on the time. 

My concentrate on financial points and rising applied sciences led to me being chosen to report on the “Two Classes” (NPC and CPPCC) in 2018. And that’s the yr my enterprise associate Alyssa and I began PANews. We’ve revealed over 20,000 articles with a median of over 5 million web page views per thirty days, turned a ceaselessly cited supply in crypto and blockchain journalism, together with Forbes, Caixin, CCN, and we’re an official information supply of Tencent Information.


1 — Wanting on the high 100 tasks in crypto by market cap, which of them stand out to you — and for what purpose?

I’ve to say Bitcoin. Being a journalist eager on financial analysis, I acquired blown away when figuring out about its idea for the primary time. 

Bitcoin is designed to be a considerable step ahead in being profitable safer, in addition to a major deterrent to many kinds of monetary crime. It’s the first decentralized peer-to-peer fee community pushed by its customers with no central authority. Bitcoin now has modified the world and can proceed revolutionizing the monetary techniques in lots of nations. It stays the inventive final result in all of its current and limitless future makes use of.

 

2 — What’s the single most modern use case for blockchain you’ve ever seen? It is probably not the one likeliest to succeed!

Being a part of Panony and PANews, we at all times really feel excited to fulfill and work with lots of of sensible, modern tasks worldwide. For instance, I’m personally intrigued with what they’re doing at Cudos, a decentralized cloud computing platform. We all know that the cloud is expensive and centralized. As well as, as much as 50% of the time, the {hardware} is inactive or switched off, leading to low return on funding for enterprises and an infinite carbon footprint. Thus, the present growth trajectory is unsustainable for the planet. 

The Cudos community, utilizing its cloud-based distributed computing method that features blockchain help, permits organizations to save lots of as much as 10 instances greater than centralized hyper-scale cloud platforms and {hardware} homeowners to offset (and doubtlessly revenue from) the price of their {hardware} by renting out their computational energy to the community.

The blockchain trade might be exuberant. I’m glad there are many skills on the market constructing a greater future collectively.

 

3 — What does decentralization imply to you, and why is it necessary?

Good query. The decentralized internet is the unstoppable way forward for the web.

Within the present model of the online, also referred to as Web2, individuals can’t overlook the outcomes of huge firms controlling what occurs on-line: private knowledge being tracked and bought with out our permission, lack of energy for our contents, being dominated by adverts… Many of the internet is centralized. Web3, which seeks to drastically reimagine how we design and work together with apps from the bottom up, will repair many of those points. There are a number of basic variations between Web2 and Web3, however decentralization is on the coronary heart.

The Ethereum community is at the moment the most important decentralized community, with entry to hundreds of decentralized functions. With a concentrate on digital possession, the incomes potential for content material creators and the innovations of recent methods to speculate has elevated. And in a decentralized internet, people can management their knowledge, not some mega company or anyone else. 

 

4 — Record your favourite sports activities groups, and select the one most memorable second from watching them. If you happen to aren’t a sports activities fan, select a number of films and a second!

As a winter sport fanatic myself, my recollections of the Beijing 2022 Olympics are nonetheless contemporary! Eileen Gu successful two gold medals and one silver at a single sport is definitely a free ski sensation. Not simply watching her stunning strikes is jaw-dropping; I additionally admire her fixed efforts to encourage women. I’m additionally honored to have made the Forbes China 30 Underneath 30 in 2020 along with her (totally different checklist)! 

As a feminine entrepreneur, I like her spirit of sticking to targets, difficult the established order, pursuing desires with ardour and fixed onerous work. It gave me power when my enterprise associate Alyssa and I began our enterprise collectively.

 

5 — If you happen to didn’t want sleep, what would you do with the additional time?

I actually want I don’t must sleep so I can do extra issues that curiosity me. I’d most likely learn extra books as a result of I at all times discover it fascinating to get to know one thing new. Through the two-month lockdown in Shanghai, I grew out of a behavior of indoor badminton train and can carry on doing that, doing it correctly open air.

I’m tremendous grateful that my husband and I share many hobbies, and one in every of them is to write down a e-book collectively on promoting in Shanghai. We’re additionally fairly fascinated by making documentaries for Chinese language people artists and hope the world may see them at some point. 

 

6 — What’s the way forward for social media?

We envision the way forward for social media is owned by content material creators, communities — not sure platforms that management the narratives. That is what Web3 brings us. Decentralization could possibly be the blueprint for the way forward for social media: Customers may have direct entry to the decentralized platform; no centralized authority can dictate the foundations of engagement and monetization; social media will turn out to be a freer house whereas additionally granting content material creators full possession of their belongings.

Decentralized autonomous organizations (DAO) are a novel means for on-line social group that may have far-reaching implications. Properties of DAOs are more likely to have an infinite impression on the enterprise of social media. Blockchain tokens have the potential to vary that association by permitting creators to monetize their followers utilizing lots of the similar strategies that DAOs use to reward their members for contributions.

We’ve got seen pleas from customers that Twitter may have the potential to shift the ability steadiness and to be reworked right into a Web3 platform. We’re additionally grateful to see a few of the tasks, together with Just one and Rally, are dedicated to reshaping social platforms and rebuilding the social and creator economic system. 

 

A want for the younger, formidable blockchain group:

Our group wants extra builders who’ve a heat coronary heart and a cool mind. Much less FOMO, extra endurance. And confusion is sweet: It makes individuals consider themselves.

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