2021 Blockchain Ecosystem Exchange Summit Exclusive Interview with Netwo CEO Liu Yanzhuo

Open, transparent, trustworthy and sustainable

Cooperation is just the starting point, service has no end!

——Exclusive interview with Liu Yanzhuo, CEO of Netwo, at the 2021 Blockchain Ecosystem Exchange Summit

Recently, Zhang Yuan, editor-in-chief of Wabi.com, interviewed Mr. Liu Yanzhuo (hereinafter referred to as Eason), CEO of NET.WORK, at the 2021 Blockchain Ecosystem Exchange Summit and NET.WORK Global Launch Conference, and conducted an in-depth discussion on current industry trends. The following is the transcript of the interview.

Eason: Hello everyone, I am Liu Yanzhuo, CEO of Chengdu Netwo Technology Network Co., Ltd.

Zhang Yuan: Hello Eason, please share your entrepreneurial experience and why you chose to start a business in the Filecoin track?

Eason: OK, actually I have quite a lot of entrepreneurial experience. The first time was around 2004, when I was working in the Internet industry. I worked in the industry for about three or four years. At that time, I was relatively young and could not keep up with the development of the entire Internet industry. The second time I started a business was to create an e-commerce social company. While working on this company, I also received an invitation from a friend in Chengdu, so I came to Chengdu. That was also the first time I went to Chengdu in my life. At that time, the Internet celebrity economy was very popular, and then I went to open an Internet celebrity cultivation company with that friend. Around the end of 2016 and the beginning of 2017, when I was working on the Internet celebrity cultivation company, I met a mining tycoon by chance. Chengdu is known as the mining capital, but I didn’t know he was a mining tycoon at the time. This was also my luck. Then I came into contact with Bitcoin mining. I felt that this industry was very profitable. The purpose of starting a business was to make money, so I decisively changed my career and entered the mining industry. I entered the circle in mid-2017. To this day, I am also lucky. I directly entered the mining circle and took fewer detours. Of course, I will not pay less tuition fees. In 2018, I also experienced a mining accident in Chengdu. I couldn't afford the electricity bill and the machine couldn't be turned on. After careful consideration, I set foot on the foreign land of Shanghai. At that time, I was thinking about looking for opportunities and to gain a deeper understanding of the underlying technology of this industry. I accidentally entered the Shanghai Tianru company, which was later known as 1475. Then I came into contact with this distributed storage track, which is IPFS-Filecoin. I thought this project was pretty good at the time, and I also learned a lot of professional knowledge in this company. Later, I chose to start a business in Chengdu because the city of Chengdu was so attractive to me. In addition, I have too many familiar friends in this city, plus the determination of the two buddies to make a living together; I evaluated the connections and resources accumulated in the industry and decided to choose to believe, so I created the current company-Netwo Technology with those two buddies.

Zhang Yuan: What was your original intention in creating the Netwo brand?

Eason: The original intention was actually very simple, because I graduated with a law degree. I can’t remember many of the things I learned at that time, but I can only remember: openness and transparency. Then I added two more points: trustworthiness and sustainability. Of course, this is also the culture of our company. At the same time, when I founded this company, I also injected it with the service spirit of the first company I founded: cooperation is just the starting point, and service has no end. Of course, this is also particularly in line with our concept as a technology service company.

Zhang Yuan: Everyone knows that our Wabi.com is a vertical media in the mining circle, so everyone pays special attention to the mining sector. I want to know to what extent Netwo has developed in the mining sector?

Eason: First of all, Wabi.com is the first mining APP I downloaded, and it is very professional. Even a lot of my knowledge comes from Wabi.com. Regarding the company's business, our current layout is actually similar to that of most mining company bosses. We just have one more section. Since my previous company was a technology company, we have a little more technology: the first is the mining farm hosting operation and maintenance construction, which is also done by many bosses. The second is mining machine trading. The third is actually the distributed storage track that everyone has been paying attention to, starting with IPFS-Filecoin. In addition, we also hope to use technology to enable investors who believe in us to obtain technical dividends, and change some of the current irregularities in the industry through high-quality services, so that this industry can develop in a long-term stable and orderly manner and make long-term profits.

Zhang Yuan: So your ecological layout for this year is basically this, right?

Eason: The most important thing about this year's ecological layout is that in addition to the mining farm services I just mentioned, we also have a mature system for mining machine trading. My other two partners are also senior practitioners in this circle. In addition, there is the part about distributed storage projects. In this part, we are also considered newcomers in this industry. Although we are newcomers, our people are "old hands". We will still take a professional attitude to this matter. Later, we will also pay attention to more projects in the distributed storage track. After all, many POW miners do not understand this track. We also hope to be an evangelist.

Zhang Yuan: What is your long-term plan for Netwo?

Eason: We hope to use technology as a major driving force. While serving professional users in the industry, we can also use technology to serve more novice users, allowing more people to be exposed to this industry and allowing this industry to develop smoothly in an orderly environment.

Zhang Yuan: How do you view the market opportunities and challenges in the current environment?

Eason: Actually, in my opinion, opportunities and challenges must exist. I particularly appreciate a saying that opportunities are reserved for those who are prepared. For me, I think I have had quite a long time to prepare. From 2017 to 2021, it has been nearly four years. I have also experienced a bull and bear market, and this year is another bull market. I think this is a challenge for us. The first is a challenge to personal psychology, and the second is a challenge to the development of the entire industry. Since there are opportunities wherever there is danger, there must be many opportunities in between. I personally think that this is actually an opportunity to reshape the standardized operation of the industry, and it is also an opportunity for many people who are prepared to overtake on the curve. There will definitely be many companies that grow up during this period. Of course, I also hope that Netwo can be one of them.

Zhang Yuan: What changes do you think will happen in this industry in the future?

Eason: The changes are what I just told you, this industry will become more and more standardized, and more and more transparent. In fact, there are not many opportunities left for bosses to make money from information gaps. Of course, this is also a good thing, because the industry must be more and more standardized. The first is market standardization, and the second is that national supervision will become more and more perfect. I studied law, so I also hope that this industry can become more sunny, more open, and more transparent, which is also in line with the spirit of our blockchain.

Zhang Yuan: What stage do you think this round of bull market has reached? What will be the future price trend of Filecoin?

Eason: I have answered this question before when I was doing an AMA, but I was slapped in the face. For us, we all hope that the bull market will last longer. In fact, from a personal point of view, many institutions have entered the market, and the bull market will last longer, but I dare not say when exactly. But I think the Fengshui period will be a better time point, because the cost of electricity will be lower, and the cost of mining will also be lower. This is a better time point to enter. Regarding Filecoin, I think the current value of Filecoin will become more and more rational, rather than the previous madness. Of course, we have also seen that the price of more than 200 U at the beginning of the launch, including breaking the historical high some time ago, more than 230 U. I think in the long run, from the perspective of Filecoin's deflation model, this price, I think it will continue to rise, and it will get higher and higher. In fact, from some of my friends who want to enter Filecoin, they occasionally complain to me that they did not make a good plan at the time, and the current mining cost is too high, so they don’t even have the opportunity to get on board; if we take 1P computing power as an example, the hardware cost plus the mortgage coin part must be at least in the tens of millions. For some investors, the decision-making cost of tens of millions of investments is huge, and I really think that the threshold will get higher and higher.

Zhang Yuan: What factors do you think will affect the price trend of Filecoin?

Eason: The first part is the official first-hand effective data. In fact, the official has been working hard, and we have seen some results. For example, the official has taken out 15% of the 70% of the tokens as rewards for the ecosystem. The second part is that since we are talking about the ecosystem, there will be applications. There are quite a lot of underlying applications for Filecoin, but now everyone has not fully developed it. With the increase in applications and the increasing number of users, plus the fact that Filecoin itself is a deflation model, I think the price of Filecoin will get higher and higher in the future.

Zhang Yuan: Okay, that’s all for today’s interview, thank you Eason!