6 Questions for Tongtong Bee of Panony – Cointelegraph Magazine

We ask the buidlers within the blockchain and cryptocurrency sector for their ideas on the business… and throw in a number of random zingers to maintain them on their toes!


This week, our 6 Questions go to Tongtong Bee, co-founder of Panony — an incubator, investor and adviser for blockchain and Web3 enterprise.

I’m Tongtong Bee, the co-founder of Panony and founder and editor-in-chief of PANews. I began my skilled journey as a journalist at China’s conventional information retailers, together with China News Service, Jiemian and Cailian Media Group. Since 2015, I’ve been masking blockchain and fintech information as one of the few journalists in China to give attention to these sectors on the time. 

My give attention to financial points and rising applied sciences led to me being chosen to report on the “Two Sessions” (NPC and CPPCC) in 2018. And that’s the 12 months my enterprise companion Alyssa and I began PANews. We’ve revealed over 20,000 articles with a median of over 5 million web page views per 30 days, turned a continuously cited supply in crypto and blockchain journalism, together with Forbes, Caixin, CCN, and we’re an official information supply of Tencent News.

1 — Looking on the prime 100 tasks in crypto by market cap, which of them stand out to you — and for what cause?

I’ve to say Bitcoin. Being a journalist eager on financial analysis, I bought blown away when realizing about its idea for the primary time. 

Bitcoin is designed to be a considerable step ahead in getting cash safer, in addition to a big deterrent to many sorts of monetary crime. It is the primary decentralized peer-to-peer fee community pushed by its customers with no central authority. Bitcoin now has modified the world and can proceed revolutionizing the monetary techniques in lots of international locations. It stays the artistic final result in all of its current and limitless future makes use of.


2 — What is the only most modern use case for blockchain you’ve ever seen? It will not be the one likeliest to succeed!

Being half of Panony and PANews, we all the time really feel excited to satisfy and work with a whole bunch of sensible, modern tasks worldwide. For instance, I’m personally intrigued with what they’re doing at Cudos, a decentralized cloud computing platform. We know that the cloud is expensive and centralized. In addition, as much as 50% of the time, the {hardware} is inactive or switched off, leading to low return on funding for enterprises and an unlimited carbon footprint. Thus, the present improvement trajectory is unsustainable for the planet. 

The Cudos community, utilizing its cloud-based distributed computing strategy that features blockchain help, permits organizations to save lots of as much as 10 instances greater than centralized hyper-scale cloud platforms and {hardware} house owners to offset (and doubtlessly revenue from) the fee of their {hardware} by renting out their computational energy to the community.

The blockchain business will be exuberant. I’m glad there are lots of abilities on the market constructing a greater future collectively.


3 — What does decentralization imply to you, and why is it vital?

Good query. The decentralized internet is the unstoppable future of the web.

In the present model of the net, often known as Web2, folks can’t overlook the outcomes of huge firms controlling what occurs on-line: private knowledge being tracked and bought with out our permission, loss of energy for our contents, being dominated by adverts… Most of the net is centralized. Web3, which seeks to drastically reimagine how we design and work together with apps from the bottom up, will repair many of these points. There are a number of basic variations between Web2 and Web3, however decentralization is on the coronary heart.

The Ethereum community is at present the biggest decentralized community, with entry to hundreds of decentralized purposes. With a give attention to digital possession, the incomes potential for content material creators and the innovations of new methods to speculate has elevated. And in a decentralized internet, people can management their knowledge, not some mega company or anyone else. 


4 — List your favourite sports activities groups, and select the only most memorable second from watching them. If you aren’t a sports activities fan, select a number of films and a second!

As a winter recreation fanatic myself, my recollections of the Beijing 2022 Olympics are nonetheless contemporary! Eileen Gu successful two gold medals and one silver at a single recreation is definitely a free ski sensation. Not simply watching her lovely strikes is jaw-dropping; I additionally admire her fixed efforts to encourage women. I’m additionally honored to have made the Forbes China 30 Under 30 in 2020 together with her (totally different checklist)! 

As a feminine entrepreneur, I love her spirit of sticking to targets, difficult the established order, pursuing desires with ardour and fixed laborious work. It gave me energy when my enterprise companion Alyssa and I began our enterprise collectively.


5 — If you didn’t want sleep, what would you do with the additional time?

I actually want I don’t have to sleep so I can do extra issues that curiosity me. I might most likely learn extra books as a result of I all the time discover it fascinating to get to know one thing new. During the two-month lockdown in Shanghai, I grew out of a behavior of indoor badminton train and can carry on doing that, doing it correctly open air.

I’m tremendous grateful that my husband and I share many hobbies, and one of them is to jot down a e-book collectively on promoting in Shanghai. We’re additionally fairly keen on making documentaries for Chinese people artists and hope the world may see them someday. 


6 — What’s the longer term of social media?

We envision the longer term of social media is owned by content material creators, communities — not sure platforms that management the narratives. This is what Web3 brings us. (*6*) could possibly be the blueprint for the longer term of social media: Users may have direct entry to the decentralized platform; no centralized authority can dictate the principles of engagement and monetization; social media will grow to be a freer house whereas additionally granting content material creators full possession of their property.

Decentralized autonomous organizations (DAO) are a novel manner for on-line social group that can have far-reaching implications. Properties of DAOs are prone to have an unlimited affect on the enterprise of social media. Blockchain tokens have the potential to vary that association by permitting creators to monetize their followers utilizing many of the identical strategies that DAOs use to reward their members for contributions.

We have seen pleas from customers that Twitter may have the potential to shift the facility steadiness and to be reworked right into a Web3 platform. We’re additionally grateful to see some of the tasks, together with Only 1 and Rally, are dedicated to reshaping social platforms and rebuilding the social and creator economic system. 


A want for the younger, formidable blockchain group:

Our group wants extra builders who’ve a heat coronary heart and a cool mind. Less FOMO, extra persistence. And confusion is nice: It makes folks suppose of themselves.


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