Chinese Bitcoin enthusiasts are working hard to advocate the establishment of an ETC Chinese community

Some Ethereum Classic (ETC) supporters are working to promote the digital asset globally, especially in China.

Roy Zou, a Chinese entrepreneur and engineer who is more widely known in the Chinese community as “Uncle Dog,” is a long-time Bitcoin supporter.

“I first heard about Bitcoin from tech blogs in my Google Reader. I was amazed by the whole ideology behind Bitcoin,”

Zou told CoinJournal magazine in an interview.

Zou also shared with us:

“When I saw the announcement about Ethereum Classic on the Bitcointalk forum on July 24, I was shocked,” he said. “I realized that this was a big event about blockchain technology and a milestone. It will definitely have a significant impact on the development of blockchain.”

“Building a strong Ethereum Classic Chinese community”

Soon, Zou became a core member of the ETC team. He is now leading the formulation of multiple measures to promote the development of the domestic ETC community.

Zou said:

“My job is to build a strong Chinese ETC community and to build a bridge between the Chinese community and the global ETC community.”

But in order for the community to grow and develop, there first needs to be a proper "infrastructure". This includes a website with a news portal that can be used to update the latest developments, roadmap, mission statement and other matters.

Zou is also one of the founders of the Shanghai ETC Meetup Group. On September 3, he will organize the community’s first event with Chandler Guo, a well-known crypto currency expert and investor in Beijing Bitcoin startups. A large number of local Bitcoin enthusiasts, representatives of cryptocurrency exchanges, experts, developers and investors, including CHBTC CEO Li Dawei, BTC123 CEO Zhang Songhao, BTCC Vice President Zhao Qianjie, and Viewfin founder Chu Xiahu, will attend the event.

As the initial principles of Bitcoin and cryptocurrencies continue to be refined, Zou plans to organize the Chinese ETC community into a “decentralized organization” “so that no one will play the role of Vitalik Buterin in the Ethereum community.”

Zou explained:

“This means that the ETC community to be established has no traditional power structure, no official team, organization or any centralized entity,” he said. “Limited leadership is helpful in building a strong ETC community and maintaining its fundamental ideas.”

He also said:

“That’s going to be the most challenging part for Chinese society because the lack of governance will have the potential to drive people away. Because if you don’t have an organization, people won’t trust you.”

Zou is the only core team member from China, and more people are joining the ETC core team. Zou said,

“I agree with the reason why ETC was launched. It is a spirit, a movement, and a firm belief in the concept of blockchain decentralization, censorship resistance, and immutability.” Regarding the investment prospects of ETC, he believes, “Investment is not my focus, but if ETC gradually becomes mainstream, its potential will be as great as Bitcoin. That’s why we named it: Ethercoin, hoping that it will become mainstream and more people will know it.”

Zou and other members of the ETC Chinese community, including experts, exchange personnel and investors, are exploring a different governance model to legitimize the structure of the local ETC community.

China and Cryptocurrencies

China is the world's most populous country and the second largest economy. Today, it plays a very important role in the Bitcoin field. It is worth noting that the emerging Chinese ETC community will become an important part of the global ETC community.

Zou said:

“I think China is an important place for ETC because there are many opportunities here. It brings things that are more valuable than cryptocurrencies, such as decentralization and censorship resistance. For Chinese society, ETC will be a movement and an important revelation.”

Chinese Bitcoin users will join the ETC community, and many of them will invest in ETC, not only because of its low price, but also because of its ethics.

“They support ETC because they believe that ETC and Bitcoin have similar ideas: decentralization, stability, and no permission required.”

One of China’s largest Bitcoin exchanges, chbtc.com, has added support for ETC, pledging to donate 50% of transaction fees to support ETC developers in order to promote the development of the community and Dapps.

The Chinese market is still immature and the domestic capital market is still opaque, which is why Chinese investors are still looking for other investment opportunities, such as cryptocurrency investment.

Zou said:

“The global market has been developed 24/7 and promises high returns. In this case, Bitcoin and cryptocurrencies are perfect markets for Chinese investors. All these factors have made China the world's largest cryptocurrency trading market, including Bitcoin, Litecoin, Dogecoin, etc. I believe it will be the same for ETC in the future.”

Ethereum Hard Fork

In May, The DAO was hacked, resulting in losses of up to $60 million. At the same time, Ethereum’s smart contract designed to serve as a fund for Ethereum projects was also established.

However, the core developers who designed and operated Ethereum were not involved in The DAO incident, they just had to clean up the mess left behind.

On July 20, a hard fork was implemented to eliminate most of the losses caused by The DAO attack. This solution meant building a new version of the network, rolling back the entire Ethereum network to the day before the incident. This essentially eliminated The DAO and tied the funds to a new smart contract to allow fund owners to withdraw their funds in a timely manner.

For hard forks and ethereum’s core developers, it’s a sign that the blockchain’s history, once thought to be immutable, can be altered.

Zou said:

“There are some fundamental aspects of blockchain that cannot be changed.” “If you are inclined to change the fundamentals of blockchain because of personal interests, you will break the fundamental spirit of blockchain, and in this case, it breaks the stability of blockchain.”

According to Zou, Ethereum hard forks only benefit a few people, not the entire society or industry. Not only that, Zou also raised the dilemma of keeping the blockchain stable and unchanged while reaching public consensus.

Zou said:

“Bitcoin also faces this problem, and the Ethereum hard fork provides Bitcoin with an excellent case study that enables it to learn better from Ethereum.”

ETC Community Hub

Zou said:

“The ETC community is bringing together developers, entrepreneurs, educators, and marketers with the goal of developing a “global community hub.”

All of these will be built in a “fully decentralized fashion” and will operate independently with a standard framework to ensure sustainable growth and interoperability between the various hubs.

ETC is currently launching major hubs such as London, Zurich, Melbourne, New York, and Shanghai, which will allow community members to share ideas and jointly execute projects to minimize single points of failure.