We ask blockchain and cryptocurrency sector creators for their thoughts on the industry… and we throw in a few random jingles to keep them on their toes!
This week, Our 6 questions go to Han Kao, founder of the thesis-driven investment fund Sanctor Capital and co-founder of crypto research firm Crypto Briefing.
Han grew up in New York City and studied economics at Columbia University. He started out as a software developer but soon realized he wanted to be an entrepreneur. Over the years, Han has founded several companies: a web development firm (ISI Studio) during the dot-com boom, event marketing (BDBG marketing) and online ticketing (The DreamVin) companies from 2005 to 2015, and a mobile app studio ( J. Tech) in 2015.
In 2017, Han began publishing research on blockchain projects at an early stage through crypto briefings. Today, CryptoBriefing is one of the top crypto research publications, with over 1 million monthly readers.
With Sanctar Capital, Han hopes to help other founders find their own success. It recently launched Sanctor Turbo, a Y-combinator-style mentorship program that can support missionary founders.
1 – What does decentralization mean to you and why is it important?
To me, decentralization represents a tectonic socio-economic change for the modern world. For centuries, the world has relied on centralized governments, financial institutions, and other centralized institutions to bind us with a false sense of security and safety.
However, it is becoming increasingly clear that the same bodies and authorities to which we have given such powers often do not act in the best interests of their constituents and only take personal care of themselves. Moreover, the costs we pay for this false sense of security are inefficient and harmful to the society in which these companies serve.
From a socio-political point of view, decentralization helps in the distribution and democratization of power and empowers the active participants in any society (or organization), rather than those who are more privileged.
From an economic point of view, decentralization helps to eliminate costs, inefficiencies and risks related to the need to trust mediators and centralized parties.
Simply put, it simply makes everything better – not necessarily easier, but better.
2 – What is the biggest hurdle Ethereum faces today and what are its biggest opportunities?
Made by Vitalic buterin, “Blockchain Trilome” refers to the three main aspects of a blockchain – the challenges and trade-offs that exist between decentralization, security and scalability. He noted that developers had to choose between trade-offs in three areas.
Although Ethereum is one of the most decentralized and secure blockchains that currently exists, it is one of the least measurable. A more scalable, faster, cheaper move Etherium 2.0 The Etherium development was, and will continue to be, one of the most complex and challenging developments in the community.
The goal post continues for Ethereum 2.0 and the developers are frustrated and looking for alternative solutions. Developers today want to build applications on the chain that can serve as the best basis for using their imagined target.
And the longer it takes for Ethereum to reach an acceptable level of scalability, the more opportunities there will be for other blockchains to capture their demands in the market. We have already seen that other blockchains like Solana and Binans Smart Chain capitalize on this opportunity. And we’ll probably see more speed gain for other ecosystems like Cosmos, Polkadot, Avalanche and Algorand.
3 – Which is worse: $ 500,000 bitcoin or $ 0 bitcoin? Why?
Without a question, $ 0 bitcoin is more silent. The US dollar is probably the biggest scandal in world history. After World War II, 700 delegates from 44 countries gathered (in Bretton Woods, New Hampshire) to discuss how to create a new global financial system. And since the United States had the largest reserves of gold, they promised to fix the dollar in its gold reserves and turn the dollar into an international reserve currency for other countries.
However, by 1971 – after filling a huge deficit – we began to run low on our gold reserves. So President Nixon decided that the dollar would no longer be supported by gold. We have been away from the gold standard ever since, and the US dollar is not supported by anything other than our military might. That sounds like a scam to me. But the problem is that until recently there was not really an option.
Carrying gold bars and coins when you want to buy something is not really real. You cannot transfer gold bars around the world to relatives. So, Bitcoin is an effective solution for people who want to save their wealth in an asset that they may be willing to accept in the future. And the more people see Bitcoin as money, the bigger it will be.
With 21 million BTC and a certain supply of US মু inflation reaching record levels, I bet more and more people will be open to accepting Bitcoin as money. We’re not really far from the $ 500,000 bitcoin. That’s just a dimension order away!
4 – Do you lack talent but if you have? How do you use it?
I am very lucky and I have got a semi-functional brain which has body parts capable of thinking through problems and executing the commands of my brain. But I don’t have any superpowers, so since you asked, I don’t think the ability to create more time for me is too much.
I hope I had the ability to create just one extra hour a day for everyone – for myself, for my partners at Sanctar Capital, for our portfolio companies, for everyone. I would then take an extra hour of US time with me and trade on the DEX for a block of Asia time. This way I can spend less than an hour every night talking to Asia and putting it to sleep!
5 – Think of a favorite poem or song lyric. What is it, and why does it speak to you?
Okay, I’m going to take advantage of this opportunity to be super cheesy here. A verse that comes to mind from a song by Drake called “Beginning from the bottom”.
“Starting from the bottom, now we’re here. Starting from the bottom, now my whole team is here.”
When I went to Blockchain the whole time and started crypto briefing, everyone thought I was crazy – friends, family, coworkers, literally everyone. “Why would you invest in this scam?” “For crypto criminals!” “You’re out of your mind!” “Tulips!” Repeatedly, I would hear reactions like this.
Fast forward four or five years, and blockchain and crypto are now a real thing and on the way to global recognition and acceptance. And my time working in the industry has given me the experience and knowledge to be able to contribute to society in a truly effective way based on the projects we choose to support and endorse.
It’s important to remember that when I think of “my whole team” from the song, I don’t just think of my partners at Sankar Capital who crushed it with me through the low-paying long bear market, when everyone leaves us and we pull a few. There were months – I also think of every honest blockchain founder who went through the same passionate roller coaster in 2018, 2019 and early 2020.
The world has changed in a big way, and now we are at the forefront of a socio-economic revolution, and we can influence how we want to read the next chapter. Congratulations to all the creators, holders and everyone who didn’t give up their vision!
6 – What should we teach our children?
I have a lot to say about education, because I am the product of the infamous New York City public education system. I went to primary school in Queens and high school in the Bronx. Most of my classmates did not graduate. I don’t have enough space to say what I want to say, so I’ll just make a little noise until I run out of space.
We need some serious reforms in our education system and curriculum. For starters, we need to teach our children history – the way it really happened, not the BS that fills our textbooks.
After all, we need to teach financial literacy from an early age – not math, financial literacy! I wasted my childhood years learning about trigonometry (yes, sine, cosine and tangent stuff) and never once in my entire adult life did I use it. I’m not saying it doesn’t matter, but it wasn’t relevant as a core skill.
I would be more apt to learn about how profit and loss statements are or how taxes work. I like to be encouraged to be an entrepreneur and learn more about entrepreneurship rather than just presenting the entrepreneur as something for talent and talents. That much is changing today, but not fast enough.
And yes, of course, blockchain and distributed laser technology should be mandatory classes!
A wish for the blockchain community:
Think Large And have a little faith in yourself and your vision.