China is an economic powerhouse. The China market is important for the Ethereum ecosystem. China is where we find a huge concentration of mining power, massive trading volumes, and large pools of intellectual and developer talent.
I took a moment to interview Ethereum China’s Mr. Shaoping Zhang of EthFans.
Mr. Zhang, what is EthFans exactly?
Ethfans was founded in 2014 and is currently the largest Chinese-speaking Ethereum community.
The goal of Ethfans is to be a hub for communication, collaboration and synergy among the developers and among the wider community members in general as well as to act as an advocate for the Ethereum technology for the general public.
Ethfans also aims to connect Dapps from all over the world with Chinese users.
Who is on the team and what is their training and backgrounds?
There are currently seven members on Ethfans team.
Daniel is a senior developer and an expert of blockchain technology, with 10 years experience in web application development and management. Daniel is the COO of ethfans.org, co-founder of Ancun Zhengxin, core developer of Peatio open source group, worked as team leader of a consulting firm in Washington DC. He is also the founder and an active manager of RubyChina.
Ben is a senior IT product manager with 10 years of IT product design and development experience. Ben started to pay attention to Ethereum platform in 2014. He researched and developed blockchain based digital solutions for preservation and storage in 2015. Ben founded ConsenLabs in 2016.
Youcai is another co-founder of Ethfans. Youcai started with experimenting with Bitcoin in March 2011. He also participated in founding the Peatio open source exchange. He was the organizer of Ethereum Shanghai meetup. He is the writer of Randao white paper.
Shaoping is Ethfans’ community organizer. He is the initiator of Ethfans mining pool project. Shaoping was first exposed to Ethereum back in 2013 when he was an undergraduate student majoring in Finance.
Yaning has been programming for years, now work at cryptape.com. He is the main Contributors of Randao.
Toya studies electrical engineering and philosophy. She is a tech enthusiast and currently serves as the Chinese community manager.
Who are the key players in the Ethereum ecosystem in China?
Among the developer teams are Cryptape, which is a blockchain startup trying to build permissioned ledger based on Ethereum protocol and ConsenLabs, which aims to develop customer facing asset management application.
Vitalik himself is a very active member of Chinese community.
What is the awareness of Ethereum like in China at the moment?
We saw a steady growth in terms of the number of contributors and active members in the Chinese Ethereum community over the past year or so.
As the enthusiasm for the blockchain technology grew, the Ethereum Blockchain, which had previously been the attention of only a few, is also quickly making its way into the eyes of the Chinese public, which is reflected by the increasing media attention in this area.
What are the unique opportunities and threats that Ethereum faces in China?
One of the Chinese Ethereum community’s top priorities is to attract more capable developers in order to facilitate a more robust ecosystem and create positive feedback loops between developers and users.
One unique opportunity in China is that some government institutions such as The People’s Bank of China, are currently researching into the technology.
What first attracted you personally to Ethereum and the ecosystem?
The blockchain combines the game theory and computer science to solve trust problem. In future pretty all financial transactions can be done on chain bringing financial engineering in the strong sense to life.
Where do you see Ethereum in 5 years in China?
Definitely, lots and lots possibilities can be seen in the Fintech area. Especially with the increasing efforts to explore secure and cost-effective ways to deepen asset financialization in China, the properties of blockchain technology in general and Ethereum in particular make them well positioned to succeed in this area.
We‘d like to see that Ethereum act an agent for bringing a new form of Finance - a crypto-finance implemented through Ethereum Blockchain based smart contract combined with core crypto-currency.
What do you see as some of the most promising Dapps in the ecosystem at the moment?
I personally like Gnosis prediction market. I think to a degree financial derivatives market is a subset of prediction market.
There is also Chinese team developing app, for example imToken by ConsenLabs, which is definitely noteworthy. It will be launched during Devcon2.