Cryptocurrency and blockchain technology have gone mainstream over the past two years. A growing number of people have started to believe the unlimited potential of blockchain technology as well as the spirit of consensus and mutual benefit behind. The broader adoption of blockchain technology is pushing decentralized applications (DApps) to real-world usage, resulting in the emergence of many blockchain projects and infrastructure. According to Gartner’s statistics, the blockchain industry will achieve a market value of over US$3 trillion in 2030.

The enormous social influence of blockchain is attracting entrepreneurs to flock to the industry. As of 2019, blockchain technology has been adopted by more than 50 sectors, such as cross-border payment, banking, public utilities, supply chain, and the Internet-of-things (IoT). To get their blockchain projects off a good start, entrepreneurs have to secure certain key resources, including sufficient funding and an extensive user base.

Figure 1: Maturity curve of blockchain technology for commercial applications

OKEx has always been committed to blockchain development

OKEx, as one of the blockchain pioneers, has strived to build and optimize the entire blockchain ecosystem. We believe that blockchain technology can attract more talents and capital and continue its development momentum only when it gains greater recognition and attention from international communities. Yet, there is still a long way to go.

What we are working on is to reshape the global financial order. We expect to draw participation from crypto communities, project teams, and market players and, in turn, power the development of different industries with our ecosystems. We have learned from past experience that the challenges every blockchain entrepreneur has to face are somehow universal, such as financing, building their own token economy models, marketing, and the ever-changing regulatory landscapes, which sometimes catch the inexperienced off guard.

By drawing on our considerable experience, we have developed a strong ecosystem platform, which operates through our six major trading businesses, OKChain, OKB, OKNodes, and OKEx Jumpstart, to enhance coordination between community members and project teams. Therefore, project teams can spare more time and efforts for promoting the adoption of their projects. Also, we have set up a parent fund of USD1.5 billion with OK Group and Ceyuan Ventures to invest in underlying technology projects.

OKEx joins forces with OK Capital to empower blockchain project teams and communities

OKEx has entered into a strategic partnership with OK Capital to jointly develop blockchain technology. OK Capital is a venture capital firm administering digital assets of over USD100 million. Specialized in developing underlying blockchain technology, token economy, decentralized finance (DeFi), and application projects, the firm promotes ecosystem building for early-stage projects and underlying infrastructure. It has successively invested in quite a number of prominent projects, such as Securitize, Certik, Arcblock, Cortex, Nervos, Cocos and Perlin, and made strategic investment in Dragonfly Venture, and Pentera, speeding up healthy development of 100+ projects.

OK Capital aspires to nurture next-generation innovators, and explore, support, incubate and empower a large array of projects and communities. It acts as an agent between project teams and investors, and assists the former to design marketing strategies, develop technology, and implement use cases, lowering the trust cost in the market and accelerating blockchain development. Ultimately, the general application of blockchain technology will help channel a good flow of talents and capital into the blockchain sector, taking the industry forward.

Leveraging synergy of project teams, communities, and ecosystems

From 2018 to 2019, the blockchain sector shifted its focus from blockchain applications to infrastructure. Industry players began to explore a blockchain-enabled internet, internet-of-value, and Web 3.0. The development of infrastructure and applications form a mutually reinforcing cycle — infrastructure provides the soil for great applications, while great applications drive the demand for infrastructure upgrades.

Figure 2: Development timelines of mobile internet and blockchain technology

OKEx and OK Capital are carrying out the “OK+” strategic investment and “+OK” project empowerment initiatives to foster the mutually reinforcing cycle with project teams, communities, and ecosystems, building trust and confidence through close cooperation in the fast-growing blockchain space. Needless to say, it is a long, long journey, but there is still enough time to get everything done.

In A Cypherpunk’s Manifesto (1993), Eric Hughes could not foresee the current blockchain and crypto breakthroughs, which means technology advancement is always beyond human imagination. It is expected that what we have done will bring positive impacts to our ecosystem and the entire blockchain sector. Yet, we believe, together, we will embrace a brighter future even in this unexpected, fast-changing world.

Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.

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