6 Questions for Ming Duan of Umee – Cointelegraph Magazine

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


 

This week, our 6 Questions go to Ming Duan, the co-founder and chief working officer of Umee, a cross-chain DeFi hub that permits decentralized interactions between completely different blockchains.

 

Ming Duan’s information of the crypto and blockchain world goes again to 2014 when she initially discovered concerning the rising business by means of the first-ever blockchain course taught at a enterprise college. Since then, she has developed in depth crypto funding information by means of hands-on apply. Duan brings distinctive perception to Umee, having expertise as each a crypto investor and builder within the ecosystem. Her aim for Umee is to construct a platform the place people can work together with completely different tokens and chains multi functional place. Whereas propelling Umee ahead, Duan leads crypto investments at Argonautic Ventures and Fenbushi Capital. She graduated from Duke College and obtained her Grasp of Enterprise Administration diploma in 2016.

 


1 — What’s the important hurdle to mass adoption of blockchain know-how?

Merely put, blockchain know-how is simply too arduous to make use of.

In terms of mass adoption, it’s actually about evaluating what blockchain know-how can convey to customers by means of present options. The problem is that, more often than not, our present options work. When sporting my investor’s hat on a brand new challenge, I all the time wish to ask about whether or not blockchain is absolutely obligatory to realize the aim for the product. From a person’s perspective, if the target market is just not already in Web3, blockchain is oftentimes not wanted as a result of a centralized answer is already sooner, cheaper and simpler to make use of.

So, why are we right here? Properly, it’s due to the potential that blockchain-based purposes could be as quick, low-cost and simple to make use of as present options whereas creating new options: new methods of financial coordination, new methods of finance, from each an open-source in addition to open-access perspective. There may be additionally that little further aspect of being decentralized. We’re getting there.

 

2 — From good contracts to DApps to NFTs to DeFi, we now have seen so most of the subsequent “killer apps” for crypto, however none have actually taken off simply but. What is going to stick?

The thought of a decentralized digital world will stick. It’s too early to say what is going to, or what has already, taken off on the subject of crypto experiments. Crypto follows market cycles, and it takes time for individuals to grasp this new business. We might be seeing new concepts and new experiments, and loads of them will fail, however a few of them will go away an impression on individuals that can push it to evolve into one thing new. This course of is totally anticipated and wholesome. Crypto is each a technological and social paradigm shift. We will’t get it proper in a single try and we now have the luxurious of a promising future to make trial and error. The promise of such an uncoordinated and distributed mechanism to run a digital world will stick in people’ heads. It should spur questions designed to problem the established order, and entice extra expertise to hitch the area and construct out this decentralized digital future.

 

3 — What are the highest 5 Crypto Twitter feeds you may’t do with out, and why?

Umee_CrossChain wants no rationalization — it’s our bread and butter! I discover such pleasure and pleasure when seeing Umee’s newest updates through our Twitter feed. Plus, simply seeing Adora the octopus’s smiley face now and again makes everybody really feel glad, proper? 

Zhu Su is your cheatsheet to being a crypto insider. He helps you zoom out and perceive how crypto suits into the broader social and financial image whereas being attentive to the macro developments. Oftentimes within the crypto area, we get too deep into the weeds and overlook concerning the greater image, however greedy the larger image is what units the inspiration for strong long-term success.

Samczsun is the rationale why everybody ought to maintain a wholesome sense of paranoia on the subject of software program safety in crypto. His behavior of generously sharing safety vulnerability and hack opinions is extraordinarily helpful even to non-technical readers. 

If you’re on the lookout for an alpha or attempting to land on the appropriate facet of the bell curve of the crypto crowd, I might advocate following ASvanevik. He’s a founder in addition to a gifted information scientist who has shed much-needed gentle on the darkish forest of blockchain information. Alex has Ieft me with an enduring impression for the reason that very first time we spoke.

Bond_dog_51 is my companion in crypto, so his Twitter feed is a vital comply with for me. Because the chief government workplace of Umee, we work facet by facet to make this platform all it may be. I get pleasure from following his distinctive perception on the business by means of his feed, and I like studying his retweets.

And a sixth one, only for enjoyable! Weird_AnimaIs is among the few Twitter accounts I comply with that don’t have anything to do with crypto. It makes me smile and take a second to understand the facility of mom nature and the way issues are all interconnected. I’m an enormous fan of how nature follows the identical patterns in an attention-grabbing and transcendent manner.

 

4 — Which two superpowers would you most need to have, and the way would you mix them for good… or evil?

I might like to have the facility to freeze time, like Hermione in Harry Potter! We crypto individuals all the time joke about the way it already appears like one month is equal to years in crypto time with thrilling, new issues occurring every single day and a lot data to ingest. I’m a really gradual reader and wish to spend time understanding the ins and outs of a subject earlier than transferring on to the following. Having 200 tabs open on my browser is inevitable as a result of I don’t have sufficient time to course of all the pieces! How about a little bit one-hour time freeze on a regular basis? I’ll be capable to save my Chrome from burning down too shortly.

Alternatively, I might additionally like to have the superpower to clone myself — not as soon as, however twice! One among me would attend all of the crypto conferences and meetups, whereas the opposite retains observe of the newest information and developments within the area. The third Ming would focus solely on delivery and constructing! 

 

5 — ​​What’s the factor in your bucket listing that’s impossible to occur?

I’m afraid it’ll be the one the place I full a part-time program at a culinary college. I’m an enormous foodie. I began trying to cook dinner on the range once I was six years previous and I virtually utilized to  a culinary college for faculty, however I gave in to my mother and studied finance as an alternative. Studying and practising completely different recipes has been some of the enjoyable actions when taking a break from residing within the limitless crypto world. Keep in mind Monica from Buddies? I think about myself to be fairly like her if I really completed my dream of turning into a chef. Though crypto by no means disappoints — in 2020, I fortunately indulged in all of the meals cash on the market. Meals was really a big inspiration for Umee, because the phrase in Japanese means “Scrumptious!” Workforce Umee can’t get sufficient of the meals coin degen tradition.

 

6 — The place do you stand on alien intelligence and the existence of life elsewhere within the universe?

Aliens completely exist! What we presently know concerning the universe could be very restricted, virtually just like how early we’re in crypto adoption. The concept that life, or no matter type of intelligence, exists someplace out there’s actually thrilling. Although I’m a fan of The Three-Physique Downside, I’d wish to suppose that we needs to be cautious when reaching out and on the lookout for aliens. 

 

A want for the younger, bold blockchain group:

I want and hope to see extra ladies within the crypto world use their voices. There’s a range drawback, however it is very important spotlight that girls are already within the area and are utilizing their intelligence to propel the crypto business ahead. Let’s see them shine!

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