Miao Yongquan becomes Chief Strategy Officer of Blockstream and discusses the situation of Bitcoin expansion

Golden Finance News - Recently, former BTCC Chief Operating Officer Miao Yongquan announced that he had joined Bitcoin technology company Blockstream and served as Chief Strategy Officer.

Miao Yongquan serves as Chief Strategy Officer of Blockstream. Image source: Golden Finance

As of this year, Blockstream has received nearly $80 million in funding. Now, Blockstream believes that the Asian market is the best place to develop its core technology.

“Miao’s extensive experience in the bitcoin industry and in entrepreneurship makes him a perfect addition to Blockstream,” said Dr. Adam Back, CEO of Blockstream.

"Our company is accelerating its transformation. We are focusing on establishing branches and promoting products and enterprises. Miao Yongquan will be responsible for some strategic plans that need to be implemented immediately, including the establishment of offices in China and Canada."

——Before joining Blockstream, Miao Yongquan was the COO of BTCC, the world's largest digital currency exchange and one of the largest mining pools. After joining BTCC, he was mainly responsible for the two major businesses of mining pools and exchanges, as well as corporate operations, product development and marketing.

"It is a great honor to join Blockstream and I am very excited to work with such an outstanding team," said Miao Yongquan. "There are so many interesting projects in the early stages of development, each of which has the potential to disrupt several industries. We have a great opportunity to bring these innovations to life and work with strategic partners to introduce these products to the Bitcoin market."

——In addition to his influence in the Bitcoin industry, Miao Yongquan is also well-known in the gaming industry. He has served as production director and executive producer, and is also responsible for business development and operations at Sitemasher in Vancouver.

Will focus on developing the Chinese and Canadian markets

Miao Yongquan's next focus is to bring Blockstream's products to market. In addition to setting up an office in Canada to expand the team, Blockstream will also set up a representative office in China to support business development and marketing. It is expected that some engineers will be recruited to further deepen the technical support between Blockstream and its partners.

"Blockstream has been sponsoring Core before. Now I suggest that Blockstream can invest some money to buy computing power. I also propose to do more mining in foreign communities so that part of the computing power can be dispersed overseas. I have always insisted on the concept of decentralization. This plan can disperse the computing power. I hope to convey the signal of 'working together' to the Chinese mining pool community. Let users around the world feel that everyone is concerned about the same things." said Miao Yongquan.

——Talking about the current situation of Bitcoin expansion, Miao Yongquan believes that hard forks will hurt Bitcoin. Many miners hope that the market can be more stable, and traders do not want hard forks. Recently, the market performance of Litecoin Segregated Witness with a support rate of more than 75% has confirmed the importance of stability.

Miao Yongquan’s idea is, “You see, Litecoin launched Segregated Witness, and its price went up. The market stabilized, and the price went up. However, the workload of hard fork is very large, and the code is not ready. Therefore, we should reduce the debate, stabilize the market, and launch Segregated Witness.”