Huobi.com's Du Jun: Let China re-understand Bitcoin from top to bottom

Huobi.com's Du Jun: Let China re-understand Bitcoin from top to bottom


Huobi was born in 2013 and experienced a boom from 2013 to 2014, but now it is also facing a long bear market and industry bottleneck period. In the two years since its establishment, Huobi has grown from a single Bitcoin trading platform to a full layout of the industry's upstream, midstream and downstream. In 2015, it entered the P2P field, launched Caimao.com, revised the website and app, and continued to have dialogues with senior management. Not long ago, Huobi released a two-year anniversary report with a relatively complete coverage. The brief history and rapid growth of China's Bitcoin industry also reflects the efforts of Huobi as one of the major domestic trading platforms.

Recently, the “创+”第二届中国比特币产业峰会暨火币网两周年庆hosted by Huobi.com will be held in Beijing. The conference invites nearly 100 entrepreneurs from the Internet finance field to participate, aiming to explore the entrepreneurial direction under the new situation and promote the healthy development of Internet finance entrepreneurship.

Looking back at the past two years of ups and downs, what is the biggest change of Huobi? How does Huobi deal with the current downturn in the industry? Huobi co-founder Du Jun was interviewed by Babbitt.

8btc = Babbitt Du Jun = Huobi.com co-founder Du Jun

8btc: Looking back at the second year of Huobi, what is the biggest change in Huobi?

Du Jun: Huobi's first year was from September 2013 to September 2014, when Bitcoin was very popular. Investors flocked to the platform, and domestic media also competed for interviews. The media brought Huobi into the investors' field of vision. Because investors were optimistic about this industry and the entrepreneurial experience of Li Lin and me, Huobi received angel investment from Zhen Fund and Dai Zhikang two months after its launch. Half a year after its launch, it received a tens of millions of US dollars in Series A from Sequoia. To use a more popular phrase now, Huobi was born at the cusp of the trend. Huobi announced the integration of the industrial chain at its first anniversary celebration, and it is still doing so now. Entering the second year of development, the biggest change is that the price of Bitcoin has fallen, and the industry has begun to return to rationality. We also began to think about the development of the Bitcoin industry and began to do things that can actually推动行业发展. Some peers in the industry are very worried about the policy supervision of the regulatory authorities, fearing that the business cannot be carried out. In the past year, we have actively tried to communicate and dialogue with the regulatory authorities. Last year, Li Lin attended the Sanya International Finance Forum and discussed the current status of Bitcoin with Wu Xiaoling, former vice president of the central bank. This year, we cooperated with the Internet Finance Laboratory of Tsinghua University's PBC School of Finance to establish China's first "数字资产研究课题". Recently, Li Lin published regulatory suggestions for China's Bitcoin industry in the authoritative magazine Tsinghua Financial Review... We are working hard to bring Bitcoin into the mainstream vision and let China re-understand Bitcoin from top to bottom. Other changes, reflected in the team, are that this year we actively introduced high-end talents in the financial field to make the team more professional. Now more than half of Huobi's senior executives are from Tsinghua University, and they are jokingly called the "Tsinghua Gang".

8btc: Huobi has made a lot of moves this year, including Caimao and Huobi’s new version. What achievements have you made? What has Huobi done in the past year and what applications have you promoted?

Du Jun: Huobi has done a lot this year, and it is also a process of exploration. We have realized more application scenarios for Bitcoin through new products and cooperation. In May this year,财猫网was launched, becoming the first A-share company to pledge Bitcoin; we cooperated with Greenman, a world-renowned game company; we tried to cooperate with many well-known P2P companies in China... We have played a lot of new tricks and accumulated some experience. For old users in the industry, the biggest feeling should be our product innovation. After the US dollar trading platform BitYes was merged into Huobi.com, users can trade RMB and US dollars on one platform, which is more convenient. The APP has also been carefully innovated. Now I feel very gratified to hear that some users say that Huobi's APP is the most complete in the industry. We have also actively participated in the current controversial expansion event, so that international peers will pay attention to China's voice.

8btc: In the past one year, what major difficulties did Huobi encounter? How did you solve them?

Du Jun: The Bitcoin industry is in winter now, which can be said to be the biggest difficulty at this stage. But this is also the best time for enterprises to work hard, provide basic services and improve systems to welcome the arrival of a new cycle.

8btc: As one of the three largest exchanges in China, Huobi has made great contributions and influence on the development of the industry. What do you think of the current status of the industry? And what are Huobi’s future development plans?

Du Jun: The development status of the industry in China is very different from that in foreign countries. In China, everyone feels that the industry is "downturned", while in the United States, a large amount of investment is pouring into this industry. We have seen this difference and are thinking about the reasons behind the difference. We firmly believe that Bitcoin has development prospects, and we are willing to stick to it and work hard for it.

In the field of Bitcoin, we will make Bitcoin-related services more in-depth, optimize everyone's trading experience, launch our own mining pool, etc. Of course, the focus of future development will still be on交易. These are being deployed in an orderly manner. In another year, on the occasion of Huobi's third birthday, I believe that the Bitcoin industry will have a new look. I look forward to Huobi continuing to play an important role in it and bringing more surprises to everyone.


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