[Andyview] Genesis CEO Feng Chi: Let Entrepreneurs Not Take A Detour
Andyview
243days ago
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On December 16, 2018, the Vietnam Blockchain Day Summit hosted by Bigcoinvietnam was held in Hanoi, Vietnam. During the summit, Southeast Asia's leading blockchain media Beecast CEO Andy Zheng interviewed Genesis capital's CEO Feng Chi, as follows.丰驰.jpg

Andy Zheng:

Welcome  Feng Chi, CEO of Genesis capital, to Vietnam Blockchain Day DEC in Vietnam! First of all, let Feng Chi introduce the Genesis.

Fengchi:

Hello, I am the CEO of Genesis, our company now has three parts of businesses:

The first is investment. At present, Genesis has invested more than 100 blockchain projects, and we are also doing equity investment, including some well-known Chinese media, evaluation agencies and exchanges, we are also the super node of more than a dozen exchanges;

The second is incubating business, Genesis is the boutique incubator, only do two or three a year, and we only did Blockcloud this year , which is the fourth in the first market ranking;

The third is investment banking, we provide services to help projects to better enhance liquidity, impact. Our entire fund was set up last year and was the first batch of token fund in China, we earn an average of 10 to 20 times last year's first instalment .

 

Andy Zheng:

That's pretty good, you know. At present, the overall market is relatively cold. What is the layout of Genesis in the investment field?

Fengchi:

First of all, judging from our judgment, all financial industries have economic cycles, which does not mean that they are gone. In principle, we should do what we have to do. Our three businesses, from investment incubators to investment banks, are actually continuing. At the same time, we are exploring new businesses, such as STO, which we would like to take a look at to see if this could really help or happen in the future. At the same time, we continue to insist on globalization, hoping that, for example, in the United States, South Korea and China, we have some deeper resources, and we have also made a deeper layout. We are now more concerned about Vietnam Malaysia and Thailand, are where we might focus for 2019.

 

Andy Zheng:

Talking about STO, now, whether it is mainland or foreign, many of the project parties, including organizations are doing the layout of STO, how do you feel about STO? Or how does Genesis do the relevant STO layouts?

Fengchi:

We think that the so-called mission for ourselves is to "let entrepreneurs not take a detour," and we think that ICO and STO are both possible tools to help entrepreneurs move forward, and we all pay attention to them as long as they help them. You see now, for example, China, especially Beijing, is mainly talking about eviction of STO. The concept itself was put forward after the US SEC, we must first understand the US policy. Go and see what these so-called crab-eaters do, and then we'll learn to follow up.

 

Andy Zheng:

As far as I know, the links of STO may be more complicated, including legal compliance, token issuance, on the exchange and other links, if Genesis is involved, which part is more important?

Fengchi:

We have no concrete action, we are in fact now to wait and see mainly.

Andy Zheng:

I saw some domestic institutions, including fire coins, Mars, are trying to do STO training.

Fengchi:

I think it's obviously a business that wants to make some cash flow. For us, we certainly don't want to make money. In fact, I don't think the first goal of token fund is simply to make money. Because in fact everyone has already enjoyed a dividend, perhaps more in the future in a large pattern can have a relatively good position, I think this is possible that everyone is more concerned about. In fact, I also said on stage just now that we are now very similar to the pattern of the equity market from 2000 to 2010. At this time, many good funds have actually appeared, and a lot of them have been eliminated, so we certainly hope to be more prominent at the period, and in the future have the ability to survive more durable.

 

Andy Zheng:

Enterprises are constantly changing, from small to large, small enterprises may be talking about making money, to a certain scale we may be more about responsibility or industry leadership. So from your point of view as an investor, a retail investor or institution, project side, how to accumulate energy in the bear market?

Fengchi:

I spoke to Goldman Sachs once before, and I told you what you would do in a bear market. He says they usually do two things, first, layoffs, and second, killing their competitors.

In fact, I think the two schemes are quite objective. You will find that many institutions or peers actually made some radical moves during the bull market. A lot of things have to be paid back in the bear market. I think we are fine. Because we have been fighting in small teams, we have done a lot of work, so relatively speaking, I think we are still living in good condition. But I think it's more important to think about what we should do today to create barriers for the future when the next economic cycle comes.

I remember what Tang Yan said was very interesting. He said that all meetings with microphones are silly Xs. Why? If I know how to make money, why should I tell you? If I'm not sure I'm right, why would I say that? " I think these two words are actually quite interesting in some way. Today, including the STO, we are all looking at a lot of so-called head funds, but he may not necessarily say that.

 

Andy Zheng:

This visit will be broadcast simultaneously in mainland China, Taiwan, South Korea and Southeast Asia. Is there anything else Fengchi would like to talk to you about?

Fengchi:

We think that one of the things that fascinated us particularly about the blockchain was that it was a global thing, and this year, we actually got to know a lot of people from Korea, Vietnam, Malaysia, the United StatesAustralia and other countries who are working together. Today, we may have encountered some difficulties in the industry today. I believe that if we just insist, in fact, in the future, we will let the blockchain become the real mainstream.

Andy Zheng:

Of course, we, Block Technology and Beecast, also want to be actively involved in every aspect of the ecosystem, to be able to integrate with the market, and then to do some breakthroughs and positive things.

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