Time： 9:30 PM (Beijing Time) , July 14 9:30 AM(ET) /6:30 AM（PST) , July 14
Groups：Mars Finance Global Family
Li Yuan：founder of SelfSell, CEO of Beijing Thinkyoung Technology Co.Ltd, expert on blockchain technology
Vivi Lin：Mars Finance Global Partner ，General Manager of Mars Finance International Wechat Community
Steven(Tianyuan) Wei：Finance in Miami university ，Co-founder of Sharp Eye Capital，Invest and Incubate high-quality overseas projects，Media，Exchange，Mine
technology changed the way people interacting with each other in working
Li Yuan：Thanks for organizing the dicussion. My topic is about the new era of individual capitalization using token, I think it will enpower person with good influence and also normal people. Every discussion and questions is welcomed.talk to you all on 9:30
Time to begin.Glad to meet everyone here and thanks for the chance to sharing my idea.
Steven:Vitalik Buterin in our group
Li Yuan：Wooh, that is sept of 2016, first time I meet @Vitalik Buterin . At that time, we had just finished the smart contract system based on DPOS (becoming Achain finnally), and that idea is inspired by Vitalik on 2014.
Someone may think it is crazy to tokenize a real person, but I think it the is where the god will finally lead us to, to let everyone to express his/her own value.
The key point is， digitalization of individuals' value will become the new trend, and tokenization is the best way to capitalizing individuals' value.
I will give three reasons to make the ideas very fast and simple.
1.Each time technology evolving, the organizing way of economic will change dramatically and value unit will also change.
2.The world is become more and more digital. The essential world is now evolving into digital world, and there are new value coming out in the virtual world at the same time.
3.Blockchain give us enough tools to create new way to organize production activities and to help one weak project (or person) to get enough resources to do something finally can be proved.
For the first reason.
In the long history of civilization (I also like the game with same name), technology changed the way people interacting with each other in working.
In primitive sociality, caveman hunting together in the form of tribe. Then people organize the production activities in the form of family workshops and succeed generation by generation. After first industrial revolution, big factories came out and companies take the most place. Company is still the most effective way of production organizing. With internet and one-way information transferring, companies changed a lot. Now we have smart phone, two-way information network and blockchain, the world is become less centered and each individual can play a role. There might be some big change very soon, and individuals themselves will become important role in the information generating and value creating.
It is hard to imagine a company with only one person, but now it is everywhere, a lot of people work with different organizations rather than working for one company. We can see a lot of freelancers around. It is hard to imagine in the past, but it is true now. The importance of economic system based on individual value will grow and take a considerable part of whole economic volume.
For the second reason.
Digitalization of every value, virtual or essential, is unstoppably coming. If we can digitalize a company, we can digitalize a person’s value also. With fast and easy way of value transaction. The word will become more and more digital. And blockchain is the best way to capitalize any value.
Because digital world runs much faster than the actual world on evolving, transferring and changing, it will become stronger and stronger.
It is a long time ago since I used cash last time.
And we can referring the movie "Ready Player One" to see what future will become.
For the third reason, blockchain.
We all know a lot about it. It create trust, break the rule of media and let people transfer value easily and play their role decentralized.
The blockchain might offer a lot value in the future. But untill now, the most powerful value the blockchain give us is token. It help us to build new economic stucture and attract users with mixed role, investors, marketing power and custumers.
It can also enpower people, to help them build their own valus system.
it is declaration of independence
Steven:I have ten questions for you.1. why you say, it is declaration of independence?
Li Yuan:it is the first time individual can play their own role, compared with the organizaitons like companies.
in the past, people created value, but behide orgs,now, thanks to the two-way info tech, and the value system, they can work by themselves and speak for themselves.
Steven:2. Why you think it is the trend, rather than the illusion?
Li Yuan:cause I see more and more freelancers coming out and work well. They live on the value offered to others and if token is envolved, it will become more interesting and powful for them.
There is a Joke, if you through a brick out of the window in Beijing, it will hit 3 CEOs.
Joke is joke, but so many people start their own business, based on individual skills rather than strong organizaitons.
Steven:3. If the individual tokenization really play a big role in the future, it must have some big advantages, what are them?
Li Yuan:As time goes by, individual will play more role in the economic system, based on the reasons I mentioned, especially the first one about socialty evolution. So the question become why token can help people compared with no token.
Steven:4. Why blockchain, other way can also realize it. What is value blockchain offer help for your idea?
Li Yuan:In the traditional way, we can also push forward individual value, like Zhihu, Dedao, Douyin, some of them also did it well.
But the past economic structure is designed for organizations, it cost a lot to make the financial system run. For a company big enough, the cost is OK, but for individual, the same cost is a heavy burden.
We all know, blockchain is the lowest cost system to confirm ownership right, and also the cheapest way to transfer value.
So blockchain can easily solve the cost problem, and also add new financial tools.
Steven:Yes,Is it easy to tokenize a person?
Li Yuan:technically, easy enough if you had already build a whole system including chain, wallet and exchange, like SelfSell.
socially, it is still a long way to go. People's conceptual acceptance, regulation, business model need time to be mature.
But I believe, anything works fine theoritially will become true finnally.
And also, we had already see some trend.
Steven:Will it become a really new industry?
Li Yuan:I don't think so.
Steven:What is the weakness of individual tokenization
Li Yuan:The tokenization thing is a tool to help people enlarge their value, but not provide value directly. It make your car change from 1.5L to 3.0T, but it did not make you a new car.
There are already enough industries to express individual value, so the new era is to make thess industries growth much faster.
It may bring some companies to help people tokenizing themselves.
Steven:What is the weakness of individual tokenization?
Li Yuan:For the weekness. I think there are several.
1.a littler earlier, people need time to understand and accept it.
2.corresponding regulation is none. we can try, but not so far and so large.
3.financial tools are involved to many traditianal scenarios, it may bring greed, and other sideeffect.
Steven:Some people may say, you are a fraud with virtual ideas.
Li Yuan:I must be like that. But I will call myself a dreamer, haha.
Steven:Where the idea come from?
Li Yuan:the initial idea is not issuing token for people, but to help young people to get enough resource to develop themselves.
It was at year 2011, we had done some research about young people development. I notice some young people need more resource to have proper development.
As Fusheng said, the real competition is the race of cognition. I think all people buy bitcoin before 2016 will realize very very deep.So I want to do something to help young people to develop, and the idea come to me, why not let people invest into the young potential?So young people get chance and "old" people get money, win-win.
A Window Into The Future: Vitalik Buterin Talks Blockchain, Cryptocurrency Evolution On "10 Q Wi
Vena Network wants to take the risk out of crypto collateral
Adam: Artificial intelligence and ethics on blockchain
IPFS, meet IPRS: Secure cloud storage and computing, on the blockchain
Vitalik Buterin, founder of Ethereum joins Fred Wang of Mars Finance at "10 Q with Fred Wang"
Ethereum co-founder Vitalik Buterin comes up with seven difficult questions for the cryptoverse
Jian Zhang, founder of FCoin joins Fred Wang of Mars Finance at "10 Q with Fred Wang"