"Child prodigy" Ding Lei relies entirely on self-study to start a Bitcoin business

Core Tip: Today's protagonist Ding Lei is different from the previous super academic masters who have backgrounds in famous American universities. He has never been to school and has relied on self-study at home. He is called a "child prodigy" by people. He was hired by a well-known American Internet company at a young age and was highly valued. Later, because of his outstanding performance, he was sent to the headquarters in the United States. However, an academic paper on Bitcoin six or seven years ago made him decide to invest and start a business in the cutting-edge Bitcoin field.

Phoenix TV's "Walking with Dreams" on June 30, the following is the transcript:

Ai Chuyi: Hello, everyone. Welcome to the dream journey. Today we continue to focus on Chinese entrepreneurs in Silicon Valley. Today I want to introduce you to Ding Lei, who is different from the super academic masters with backgrounds in famous American schools. He has never been to school and relies on self-study at home. He is called a "child prodigy" by people. He was hired by a well-known American Internet company at a young age and was highly valued. Later, because of his excellent performance, he was sent to the headquarters in the United States. However, an academic paper on Bitcoin six or seven years ago made him decide to invest and start a business in the cutting-edge field of Bitcoin.

Ding Lei: Bitcoin was actually invented around 2008 or 2009, but I didn't pay much attention to it for a long time. Later, when I looked at it again, I felt that such a great technology could create a currency out of thin air. Then I started to think about what else we can do besides currency, and then we started to work in our current direction. We have also gone through some different attempts in the middle. We tried crowdfunding, and now we are focusing more on equity, that is, all stocks, equity, and equity of private companies can be issued based on Bitcoin technology.

Simply put, we help startups or high-growth companies to issue their own stocks to the public. In the past, your company's stocks could only be circulated after listing, such as listing on the New York Stock Exchange or Nasdaq. The threshold in between is very high and it takes a long time. We are now using technology to democratize this process, so that more small and medium-sized companies can enjoy many of the benefits that listed companies can get. For example, a big benefit for a company to be listed in the past is that their stocks will suddenly increase a lot of popularity, and then many people will hold their company's stocks. At this time, these holders will also have more interest in the company, helping them sell the product. This is also one of the ways we help some growing companies to acquire new users and increase their popularity, which we can help them issue such stocks.

What I understand in China is that the pattern may be different from here. It is also a very hot field, but it may be more concentrated in areas like exchanges and Bitcoin mining, which are relatively capable of seeing returns in the short term. Here you will see that the pattern is more dispersed. There are traditional wallets, mining, and exchanges, but at the same time there will also be some different ones like us that are trying to find non-monetary and possibly more radical disruptive innovation scenarios.

Ai Chuyi: It is not easy to make innovations on Bitcoin that are different from others, because Bitcoin is a typical interdisciplinary field. It starts with cryptography, and also requires knowledge of economics, philosophy, and even law. Before entering this field, Ding Lei, who came from a technical background, did not know much about it. Faced with a completely new field, in the past year or so, Ding Lei has been absorbing a lot of knowledge through continuous self-study and communication with peers.

Ding Lei: The advantage of a new field is that no one is an expert, everyone is a novice, so everyone has their own shortcomings and strengths, and needs a lot of learning. In fact, I am very used to it. I didn’t go to school much since I was a child. Basically, I spent most of my time improving my abilities through self-study. So I personally think this is a very good advantage, especially as an entrepreneur, because you need a lot of freedom to think independently, because the foundation of most entrepreneurship and innovation comes from the fact that you don’t think the current state is optimal, and you believe that there must be better and more effective solutions than the current state. This is the basis for all entrepreneurial success, right? So I personally think this is a point that benefits you more.

Fuyuan Coin is a decentralized encrypted digital currency generated in the product operation and circulation of member companies of the Global Jewelry Industry Association (similar to commercial points). Users can obtain a certain amount of Fuyuan Coin when purchasing jewelry products of member companies. Fuyuan Coin can be used for shopping at member cooperative merchants, and can also be freely traded on the Fuyuan Coin trading platform.