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Collins Capital Cheng Jianbo: The mining industry needs to be de-monopolized



On August 22, the "2020 Global Blockchain Computing Power Conference and New Infrastructure Mining Summit" opened in Chenghua District, Chengdu. This conference focuses on industry hot topics such as blockchain, new infrastructure, and digital economy, provides practitioners with a platform for industry-leading resources, and builds a bridge for dialogue between enterprises and local governments. The conference gathered representatives of the entire industry chain of blockchain computing power such as chip design, chip manufacturing, computing power centers, and computing power derivatives. About 90% of the computing power of the entire Bitcoin network and about 70% of the electricity suppliers of the entire network are for the first time. Chengdu Division, to show the hard core strength of China's blockchain computing power industry to the world.

In the afternoon, Cheng Jianbo, chairman of Collin Capital and CEO of STU, released a new version of the mining machine Hornbill H8 at the conference. According to Cheng Jianbo, the company will launch cloud computing power products in the future, combined with the layout of industrialization, to create a very free environment for the free flow of cloud computing power. At the same time, the company has also planned a new track, which is to make hardware chip solutions based on the underlying security of the blockchain.

Collin Capital announced a strategic investment in the cross-chain protocol DNFT Protocol: On June 16, Collin Capital announced a strategic investment in DNFT Protocol, and the two parties have become important partners in the Chinese market. The DNFT protocol aims to build infrastructure in the field of cross-chain + NFT + AI big data, and has achieved phased achievements, such as the third place in Heco Grant in June 2021, the ninth batch of Web3 Foundation Grant in April 2021, and the 9th batch of Web3 Foundation Grant in December 2020. Substrate Hackathon 2nd place. As the decentralized NFT cross-chain infrastructure of the Polkadot ecosystem, the DNFT protocol is in line with the investment positioning of Collin Capital, and the investment of Collin Capital at this time is also in line with the trend. Collins Capital will carry out in-depth cooperation with the DNFT agreement in the fields of national fashion and cultural IP, and will cooperate with more project parties to carry out operational activities in the future. [2021/6/16 23:41:19]

Collins Capital announced its official investment in Polkadot’s ecological NFT trading platform NFTMart: On April 20, Collins Capital announced its official investment in Polkadot’s ecological NFT trading platform NFTMart, and at the same time Polkadot’s ecological NFT trading platform NFTMart announced the completion of a $1.5 million private placement round of financing; NFTMart is developed based on Substrate and is a decentralized NFT trading market. It consists of two parts: the first part is the open NFT public chain, which is mainly used to issue NFT and data transactions on the chain; the second part is nftmart. io, provides users with a user-friendly trading solution, enabling users to create or trade NFTs conveniently and quickly. Collin Capital began to deploy NFT as early as 2018. The official investment in NFTMart this time represents another important layout of Collin Capital in the NFT track. Next, Collin Capital will continue to empower NFTMart and bring more to the platform. Traditional IP and high-quality resources; promote the combination of art and technology, and reshape the new ecology of the encrypted cultural industry. [2021/4/20 20:39:50]

At the event site, Jinse Finance interviewed Cheng Jianbo, chairman of Collin Capital, to talk about the current mining industry.

Klaytn (KLAY), a blockchain project invested by Keyin Capital, was listed on OKEx and started trading: On September 10, Klaytn (KLAY) was officially listed on OKEx, and KLAY/USDT and KLAY/BTC transactions were successively opened at 18:00 (HKT) right. Klaytn is a blockchain project of GroundX, a blockchain subsidiary of the Kakao Group in South Korea. It is a service-centric enterprise-level distributed trust blockchain platform. Previously, it has received investment from Collinstar Capital, IDG Capital, Kakao Investment, Crescendo Equity Partners, Hashed and many other investment institutions, and has many institutions including LG Group, Samsung Blockchain, SK Electronics, Binance, Huobi, OKEx, Upbit, etc. as an ecological partner. [2020/9/10]

Golden Finance: As a mining practitioner, from your point of view, what problems exist in the current mining industry? How will the mining industry develop next?

Cheng Jianbo, Chairman of Collin Capital: Some analysts believe that the mining industry is gradually evolving from a single manufacturer to a direction where a hundred flowers bloom. There are more excellent manufacturers who can participate in this field.

The current contradiction is that as traditional enterprises, they often pursue monopoly, but for the blockchain technology itself and the blockchain community, what they pursue is decentralization. Therefore, these two points are contradictory to a certain extent. It is hoped that more manufacturers and teams can enter the chip industry and fully decentralize and de-monopoly the entire market.

Jinse Finance: The Hornbill H8 you just released is very cost-effective. What is the original intention of releasing this product?

Cheng Jianbo: I still hope that there should be at least three manufacturers on the table that are evenly matched. Of course, I welcome more manufacturers to join in and increase the degree of decentralization of mining machine production. This is a better thing for the entire network security. The reason is that when a manufacturer's market share is too high, once a problem occurs, the network will be insecure and unstable, and the trust in the company's consensus mechanism will also be affected. In addition, after a company grows bigger, some problems will inevitably arise at a certain stage, so it is hoped that more manufacturers and competition will enter this track to balance such risks.

This is also the reason for not supporting the listing of Ant Mining Machines now. It is not that their stock price performance is not good, but that their industrial structure is too single. the

Xu Yinglong, CEO of Keyin China: The reason for the low valuation of other manufacturers is that their industries are relatively single. The so-called valuation model relies heavily on the price of Bitcoin and its fluctuations, and their source of income is very clear. Only mining machines Sales revenue. The gross profit of the sales revenue of mining machines is not high, which is why Chuangyou must vigorously develop cryptography-a set of chips based on blockchain security while deploying the mining industry. We see the future of bitcoin chips as one of the streamlined businesses that support a company. If our listed subject is a chip design company, the price-earnings ratio will be high, and it will be able to have its due value in the secondary market. If we define ourselves as a mining machine production company, it is very likely that the ending will be the same as the previous listing.

Another problem for other manufacturers is that they went to the US stock market before, but at the moment only China is actively promoting the capital market of the semiconductor industry, so the main battlefield of semiconductors should be in China at this time, and the interests of both China and the United States are intertwined. Whether it is for this industry or based on capital considerations, at this time we should do more for China. the

Jinse Finance: At this stage, mining methods have diversified, not limited to the previous POW and POS, but also the current hot Filecoin mining. Do you have a plan in this regard?

Cheng Jianbo: As a chip design company, mining machine chips are just one of our product lines. For Filecoin mining, we have been paying attention and have not made too many plans. I agree with the project, but not so much with the way their hardware is sold and disseminated.


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