For da bing’s first column of the new year, I wanted to look back at what, for Chinese crypto investors at least, was a very difficult year. Specifically, I wanted to call out the most influential people in Chinese crypto who managed to move the industry forward last year, since they’re the ones who are best positioned to shape and direct crypto in the coming year.
It’s no secret that Chinese investors got rekt during Black Thursday in March, far worse than their western counterparts. They were unable to enjoy DeFi’s summer harvest, and are now holding empty bags as they hope that BTC drops a little so they can buy back in. BTC mining continued its decentralization path, dispersing out of China’s major hubs such as Sichuan, to Europe and the United States. mining in China was hyped, halted, launched, mooned, and then settled into its current, more temperate range.
Morale went even lower as Ponzi schemes, such as PlusToken, tainted the industry and further estranged potential investors from considering the space.
And yet, despite a bad year, 2020 also taught the Chinese crypto community a lesson: As a community, our impact will dwindle if we don’t focus on building and nurturing projects that contribute to the long-term advancement of crypto.
Which brings us back to the point of this column: Who are the influencers in China that have been trying to do that?