We ask the builders of the blockchain and cryptocurrencies sector for their thoughts on the industry … and throw in some random zingers to keep them on their toes!
This week we have 6 questions Ming Duan, co-founder and chief operating officer of Umee, a cross-chain DeFi center that enables distributed communication between different blockchains.
Ming Duan’s knowledge of the world of cryptocurrencies and blockchain dates back to 2014, when she initially learned about the growing industry through the first blockchain course taught at a business school. Since then, she has developed extensive knowledge of cryptocurrencies through hands-on practice. Duan brings Umee unique insights, with experience as both a crypto investor and a builder in the ecosystem. Its goal for Umee is to build a platform where individuals can interact with different symbols and chains all in one place. While driving Umee, Duan leads cryptocurrency investments at Argonautic Ventures and Fenbushi Capital. She graduated from Duke University and received a Master’s degree in Business Administration in 2016.
1 – What is the main obstacle to mass blockchain technology?
Simply put, blockchain technology is too difficult to use.
When it comes to mass capture, it’s really about comparing what blockchain technology can bring users through existing solutions. The challenge is that our current solutions usually work. When I have my investor hat on a new project, I always like to ask if blockchain is really necessary to achieve the goal for the product. From the user’s point of view, if the target audience is not already in Web3, blockchain is often not needed because a centralized solution is already faster, cheaper and easier to use.
So, why are we here? Well, it’s because of the potential that blockchain – based applications can be as fast, cheap and easy to use as existing solutions while new solutions are being created: new ways of looking at economic coordination, new ways of looking at finance, both from an open source and an open access point of view. It’s also a small extra factor in being decentralized. We’re getting there.
2 – From smart contracts to DApps to NFTs to DeFi, we’ve seen so many of the next “kill programs” for cryptocurrencies, but none have really started yet. What will get stuck?
The idea of a distributed digital world will stand. It is too early to say what will, or has already, taken a turn for the worse when it comes to cryptocurrency experiments. Crypto follows market fluctuations and it takes time for people to understand this new industry. We will see new ideas and new experiments, and many of them will fail, but some of them will leave an impact on people who will push them to develop into something new. This process is completely expected and healthy. Crypto is both a technological and a social transformation. We do not get it right in one go and we have the luxury of a promising future to try and fail. The promise of such an inconsistent and distributed system for running a digital world will stick in the minds of individuals. It will push questions designed to challenge the status quo and attract more talent to participate in the space and build this diversified digital future.
3 – What are the top five Crypto Twitter feeds you can not do without, and why?
Umee_CrossChain needs no explanation – this is our bread and butter! I feel so much joy and excitement when I see the latest Umee updates through our Twitter feed. Besides, just seeing Adora the octopus’ smile every now and then makes everyone happy, right?
Zhu Su is your scam to be a cryptocurrency insider. It helps you to zoom out and understand how cryptography fits into the broader social and economic picture as you monitor macroeconomic developments. Often in the cryptic space we go too deep into the weeds and forget the big picture, but realizing the bigger picture is what lays the foundation for solid long-term success.
Samczsun is the reason why everyone should have a healthy sense of paranoia when it comes to software security in cryptocurrency. His habit of generously sharing security vulnerabilities and reviews of burglary is very helpful even for non-technical readers.
If you’re looking for an alpha or trying to land on the right side of the cryptographic ringtone, I’d recommend following ASvanevik. He is the founder as well as a talented data scientist who has shed much-needed light on the dark forest of blockchain data. Alex has left a lasting impression on me since we first spoke.
Bond_dog_51 is my crypto partner, so his Twitter feed is an important follow-up for me. As CEO of Umee, we work side by side to make this platform all it can be. I enjoy watching his unique insights into the article through his stream and I love reading his retweet.
And the sixth, just for fun! Weird_AnimaIs is one of the few Twitter accounts I follow that have nothing to do with cryptography. It makes me smile and take a moment to appreciate the power of Mother Nature and how things are all interconnected. I’m a big fan of how nature follows the same patterns in an interesting and overwhelming way.
4 – Which two superpowers would you most like to have and how would you combine them for good … or evil?
I would love to have the power to freeze time, like Hermione in Harry Potter! We cryptocurrencies always joke about how it already feels like one month is equivalent to years of cryptocurrency with exciting, new things happening every day and so much information to load. I’m a very slow reader and like to spend time understanding the ins and outs of content before moving on to the next one. Having 200 tabs open in my browser is inevitable because I do not have enough time to process everything! How about a little hour of frost every day? I’ll be able to save Chrome from burning too fast.
Otherwise, I would also love to have the superpower to clone myself – not once, but twice! One of me would attend all the crypto conferences and meetings, while the other would keep up with the latest news and developments in the space. The Third Ming would focus exclusively on ships and construction!
5 – What is it on your catalog that is most unlikely to happen?
I’m afraid it will be the one where I finish part-time cooking school. I’m a great foodie. I started trying to cook on the stove when I was six years old and I almost applied to a college cooking school, but I gave up on my mom and studied finance instead. Reading and practicing different recipes has been one of the relaxing activities when taking a break from living in the limitless world of cryptography. Remember Monica from Friends? I imagine I’ll be just like her if I’m really fulfilling my dream of becoming a chef. Although cryptocurrencies never disappoint – in 2020 I happily gave up all the food coins out there. Food was really a great inspiration for Umee, as the word in Japanese means “delicious!” Team Umee does not get enough of food culture.
6 – Where do you stand on extraterrestrial intelligence and the existence of life elsewhere in the universe?
Aliens exist! What we know about the universe at the moment is very limited, almost similar to how early we are in cryptocurrency. The idea that life, or any kind of intelligence, exists somewhere out there is very exciting. Although I’m a fan The three-body problemI want to think that we should be careful when we stretch out and look for aliens.
Wish for the young, ambitious blockchain community:
I wish and hope to see more women in the world of cryptography use their voices. It’s a diversity problem, but it’s important to emphasize that women are already in the room and using their intelligence to propel the cryptocurrency industry. Let’s see them shine!
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