6 Questions for Ming Duan of Umee – Cointelegraph Magazine

Cointelegraph Magazine



We ask the buidlers within the blockchain and cryptocurrency sector for their ideas on the trade… and throw in a number 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 data of the crypto and blockchain world goes again to 2014 when she initially discovered concerning the rising trade via the first-ever blockchain course taught at a enterprise faculty. Since then, she has developed in depth crypto funding data via hands-on observe. Duan brings distinctive perception to Umee, having expertise as each a crypto investor and builder within the ecosystem. Her objective for Umee is to construct a platform the place people can work together with completely different tokens and chains multi function place. While propelling Umee ahead, Duan leads crypto investments at Argonautic Ventures and Fenbushi Capital. She graduated from Duke University and obtained her Master of Business Administration diploma in 2016.

 

1 — What is the primary hurdle to mass adoption of blockchain expertise?

Simply put, blockchain expertise is just too onerous to make use of.

When it involves mass adoption, it’s actually about evaluating what blockchain expertise can deliver to customers via present options. The problem is that, most of the time, our present options work. When carrying my investor’s hat on a brand new undertaking, I all the time wish to ask about whether or not blockchain is absolutely mandatory to attain the objective for the product. From a person’s perspective, if the target market just isn’t already in Web3, blockchain is oftentimes not wanted as a result of a centralized resolution is already sooner, cheaper and simpler to make use of.

So, why are we right here? Well, it’s as a result of of the potential that blockchain-based functions might be as quick, low cost and simple to make use of as present options whereas creating new options: new methods of taking a look at financial coordination, new methods of taking a look at finance, from each an open-source in addition to open-access perspective. There can also be that little further factor of being decentralized. We’re getting there.

 

2 — From sensible contracts to DApps to NFTs to DeFi, we’ve seen so many of the subsequent “killer apps” for crypto, however none have actually taken off simply but. What will stick?

The concept of a decentralized digital world will stick. It’s too early to say what is going to, or what has already, taken off in relation to crypto experiments. Crypto follows market cycles, and it takes time for individuals to know this new trade. We will likely be seeing new concepts and new experiments, and lots of them will fail, however some of them will go away an impression on individuals that may 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 can’t get it proper in a single try and we’ve the posh 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 will spur questions designed to problem the established order, and appeal to extra expertise to affix 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 by way of our Twitter feed. Plus, simply seeing Adora the octopus’s smiley face from time to time makes everybody really feel joyful, proper? 

Zhu Su is your cheatsheet to being a crypto insider. He helps you zoom out and perceive how crypto matches into the broader social and financial image whereas being attentive to the macro tendencies. 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 muse for strong long-term success.

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

If you’re looking for an alpha or making an attempt to land on the correct aspect of the bell curve of the crypto crowd, I might advocate following ASvanevik. He is a founder in addition to a gifted knowledge scientist who has shed much-needed mild on the darkish forest of blockchain knowledge. Alex has Ieft me with a long-lasting impression for the reason that very first time we spoke.

Bond_dog_51 is my associate in crypto, so his Twitter feed is a crucial observe for me. As the chief govt workplace of Umee, we work aspect by aspect to make this platform all it may be. I take pleasure in following his distinctive perception on the trade via his feed, and I like studying his retweets.

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

 

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

I might like to have the ability 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 taking place each day and a lot data to ingest. I’m a really sluggish reader and wish to spend time understanding the ins and outs of a subject earlier than transferring on to the subsequent. 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 bit of one-hour time freeze on a regular basis? I’ll have the ability to save my Chrome from burning down too rapidly.

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

 

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

I’m afraid it’ll be the one the place I full a part-time program at a culinary faculty. I’m a giant foodie. I began making an attempt to cook dinner on the range after I was six years outdated and I nearly utilized to  a culinary faculty for faculty, however I gave in to my mother and studied finance as a substitute. Reading and working towards completely different recipes has been one of probably the most enjoyable actions when taking a break from dwelling within the limitless crypto world. Remember Monica from Friends? I think about myself to be fairly like her if I really completed my dream of changing into a chef. Although crypto by no means disappoints — in 2020, I fortunately indulged in all of the meals cash on the market. Food was really a big inspiration for Umee, because the phrase in Japanese means “Delicious!” Team Umee can’t get sufficient of the meals coin degen tradition.

 

6 — Where 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 may be very restricted, nearly much like how early we’re in crypto adoption. The concept that life, or no matter kind of intelligence, exists someplace out there may be actually thrilling. Though I’m a fan of The Three-Body Problem, I’d wish to assume that we must be cautious when reaching out and looking out for aliens. 

 

A want for the younger, bold blockchain group:

I want and hope to see extra girls within the crypto world use their voices. There is a range downside, however you will need to spotlight that girls are already within the area and are utilizing their intelligence to propel the crypto trade ahead. Let’s see them shine!



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