OKCoin's new COO Hu Zhibin: I am a loyal believer in Bitcoin

In 2015, the bitcoin market was not hot, and related startups also entered a period of adjustment. For the domestic bitcoin trading platform OKCoin, the changes in the founding team members and the DDOS attacks were no different from a troubled time in the eyes of outsiders.

Recently, Hu Zhibin, a member of the SFARDS founding team, joined OKCoin as the Chief Operating Officer of OKCoin. This senior person in the cryptocurrency industry with a technical background has been exploring more possibilities, from R&D and coding, ERP system management, to mining farm management and enterprise operations. At a time when the investment circle is dominated by entrepreneurs born in the 1990s, this experienced and curious person born in the 1980s calls himself a loyal believer in Bitcoin. Will his joining inject new vitality into OKCoin?

This is the “New York Stock Exchange of Bitcoin”

In Hu Zhibin's view, OKCoin, which was launched in 2013, is currently China's most technologically powerful and relatively transparent trading platform: "The concept of relying on technology and serving users enables OKCoin to continuously update technology, ensure system security and user funds security, and is committed to providing a safe, stable and reliable trading platform. Whether it is spending a lot of money to purchase servers and bandwidth, or hiring the best technicians and engineers to optimize its own code, OKCoin is undoubtedly one of the leading companies in this industry."

The trading platform has very high technical requirements. What OKCoin does is equivalent to the "New York Stock Exchange of Bitcoin." Apart from personal feelings, Hu Zhibin is a long-time friend of OKCoin CEO Xu Mingxing. "OK's business progress and breakthroughs" are also an important reason that attracted Hu Zhibin to join.

Recently, OKCoin launched the WeChat order function, which is the first in the industry, with the aim of allowing users to experience a more convenient trading method. "Even if the website is attacked, users can still place and cancel orders through WeChat; for business people on business trips, they can directly enter these commands after becoming familiar with them."

This feature was just launched in July. According to the feedback from most users, it will be much easier to operate after getting familiar with the process. "Continuously improving and optimizing products and enhancing user experience is what OKCoin has been doing," said Hu Zhibin.

“A crisis means opportunities when there is danger. We should be optimistic. We are also constantly adapting to market changes.” Just last week, Jack from OKCoin’s International Department went to Hong Kong to attend the Rise Summit. This was the first time that Europe’s most famous technology forum came to Asia. Industry giants including Uber, Google, and IBM were all guests of honor at the conference.

A technology geek's cross-border journey

After graduating from university, Hu Zhibin, who was born in the 1980s, joined BabyTree, a website co-founded by Wang Huainan, former marketing director of Google Asia Pacific, and Shao Yibo, former founder of eBay, to do research and development. As one of the members of the initial entrepreneurial team, Hu Zhibin stayed in the position of technical manager for five years. During these five years of working with experienced industry leaders, he learned a lot of experience and skills in corporate management and operations.

In 2013, Hu Zhibin came across Bitcoin by chance. After reading some reports, he began to study Satoshi Nakamoto's paper in detail. Proof of Work and decentralized consistency issues strongly attracted him: "Bitcoin is like a currency. Compared with gold, it has the advantage of fast circulation, and the limited supply of 21 million makes it a scarce resource. It is not an exaggeration to describe Bitcoin as digital gold."

At that time, people who came into contact with Bitcoin included hackers in the computer and Internet fields and entrepreneurs in the financial field. Many of these imaginative and creative people, like Hu Zhibin, recognized the value of Bitcoin and devoted themselves to starting businesses.

That same year, Bitcoin soared to 8,000 yuan, attracting more people. Hu Zhibin did not think of making money from it, but just thought it was a new thing that needed time to understand and study. Initially, he mainly studied blockchain technology, and later provided mining solutions for people in the industry, which used his undergraduate and master's majors: thermal energy engineering and cryogenic engineering.

In the past two years, Hu Zhibin started his cross-border journey in the Bitcoin industry, from R&D and coding, ERP system management, to mine management, and now to business operations.

When SFARDS was founded in 2014, he participated in the entire process as one of the founding members, and his position at that time was VP (Vice President). Although he has now joined OKCoin, "SFARDS is still the only company in the world that has developed dual-mining chips in the field of mining chips," this is something Hu Zhibin is proud of.

Moving forward amid doubts

At present, Hu Zhibin has been the COO of OKCoin for less than a month. While starting the operation of OKCoin, Hu Zhibin also had his own thoughts on the entire Bitcoin industry: "At present, the entire domestic cryptocurrency circle is somewhat impetuous and eager for quick success. We hope that OKCoin will promote the healthy development of币圈生态and play a positive role. Our team is relatively low-key and has been committed to the improvement and innovation of technology and services, but rarely exposed in the media. This is actually in line with the style of OKCoin CEO Xu Mingxing, who is low-key, steady and down-to-earth."

Hu Zhibin does not shy away from talking about the recent negative news about OK in China. "If you are upright, you have nothing to fear. Negative news can also show that the company has reached the top position in the industry. A tall tree attracts the wind. We value the suggestions and feedback of users. As long as OK continues to provide updates and improvements, all kinds of rumors will be dispelled."

Hu Zhibin said, "In the future, OK's focus will be on upgrading and improving Bitcoin products. In addition, we will actively expand new businesses, continue trial and error, and try new directions."

"You will hear good news soon," said Hu Zhibin.