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6 Questions for Ming Duan of Umee – Cointelegraph Magazine



We ask the buidlers within the blockchain and cryptocurrency sector for their ideas on the business… and throw in just a few random zingers to maintain them on their toes!


This week, our 6 Questions go to Ming Duan, the co-founder and chief working officer of Umee, a cross-chain DeFi hub that enables decentralized interactions between completely different blockchains.


Ming Duan’s data of the crypto and blockchain world goes again to 2014 when she initially realized in regards to the rising business by way of the first-ever blockchain course taught at a enterprise college. Since then, she has developed in depth crypto funding data by way of hands-on follow. Duan brings distinctive perception to Umee, having expertise as each a crypto investor and builder within the ecosystem. Her aim for Umee is to construct a platform the place people can work together with completely different tokens and chains multi functional place. Whereas propelling Umee ahead, Duan leads crypto investments at Argonautic Ventures and Fenbushi Capital. She graduated from Duke College and acquired her Grasp of Enterprise Administration diploma in 2016.(*6*)


1 — What’s the essential hurdle to mass adoption of blockchain know-how?

Merely put, blockchain know-how is just too onerous to make use of.(*6*)

In terms of mass adoption, it’s actually about evaluating what blockchain know-how can carry to customers by way of present options. The problem is that, most of the time, our present options work. When sporting my investor’s hat on a brand new challenge, I all the time prefer to ask about whether or not blockchain is actually crucial to realize the aim for the product. From a person’s perspective, if the target market just isn’t already in Web3, blockchain is oftentimes not wanted as a result of a centralized resolution is already sooner, cheaper and simpler to make use of.(*6*)

So, why are we right here? Properly, it’s as a result of of the potential that blockchain-based purposes will be as quick, low cost and simple to make use of as present options whereas creating new options: new methods of financial coordination, new methods of finance, from each an open-source in addition to open-access perspective. There may be additionally that little further ingredient of being decentralized. We’re getting there.(*6*)


2 — From sensible contracts to DApps to NFTs to DeFi, now we have seen so many of the subsequent “killer apps” for crypto, however none have actually taken off simply but. What is going to stick?

The thought of a decentralized digital world will stick. It’s too early to say what’s going to, or what has already, taken off on the subject of crypto experiments. Crypto follows market cycles, and it takes time for individuals to know this new business. We will likely be seeing new concepts and new experiments, and so much of them will fail, however some of them will depart an impression on individuals that can push it to evolve into one thing new. This course of is totally anticipated and wholesome. Crypto is each a technological and social paradigm shift. We will’t get it proper in a single try and now we have the posh of a promising future to make trial and error. The promise of such an uncoordinated and distributed mechanism to run a digital world will stick in people’ heads. It’s going to spur questions designed to problem the established order, and entice extra expertise to hitch the house and construct out this decentralized digital future.(*6*)


3 — What are the highest 5 Crypto Twitter feeds you possibly can’t do with out, and why?

Umee_CrossChain wants no clarification — it’s our bread and butter! I discover such pleasure and pleasure when seeing Umee’s newest updates through our Twitter feed. Plus, simply seeing Adora the octopus’s smiley face from time to time makes everybody really feel blissful, proper? (*6*)

Zhu Su is your cheatsheet to being a crypto insider. He helps you zoom out and perceive how crypto matches into the broader social and financial image whereas being attentive to the macro developments. Oftentimes within the crypto house, we get too deep into the weeds and overlook in regards to the greater image, however greedy the larger image is what units the muse for strong long-term success.(*6*)

Samczsun is the explanation why everybody ought to maintain a wholesome sense of paranoia on the subject of software program safety in crypto. His behavior of generously sharing safety vulnerability and hack evaluations is extraordinarily helpful even to non-technical readers. (*6*)

In case you are trying for an alpha or making an attempt to land on the proper facet of the bell curve of the crypto crowd, I might advocate following ASvanevik. He’s a founder in addition to a gifted knowledge scientist who has shed much-needed mild on the darkish forest of blockchain knowledge. Alex has Ieft me with an enduring impression for the reason that very first time we spoke.(*6*)

Bond_dog_51 is my associate in crypto, so his Twitter feed is a crucial comply with for me. Because the chief government workplace of Umee, we work facet by facet to make this platform all it may be. I get pleasure from following his distinctive perception on the business by way of his feed, and I really like studying his retweets.(*6*)

And a sixth one, simply for enjoyable! Weird_AnimaIs is one of the few Twitter accounts I comply with that don’t have anything to do with crypto. It makes me smile and take a second to understand the ability of mom nature and the way issues are all interconnected. I’m an enormous fan of how nature follows the identical patterns in an attention-grabbing and transcendent manner.(*6*)


4 — Which two superpowers would you most wish to have, and the way would you mix them for good… or evil?

I might like to have the ability to freeze time, like Hermione in Harry Potter! We crypto individuals all the time joke about the way it already appears like one month is equal to years in crypto time with thrilling, new issues taking place day-after-day and a lot info to ingest. I’m a really gradual reader and prefer to spend time understanding the ins and outs of a subject earlier than transferring on to the subsequent. Having 200 tabs open on my browser is inevitable as a result of I don’t have sufficient time to course of every thing! How about somewhat one-hour time freeze on a regular basis? I’ll be capable to save my Chrome from burning down too shortly.(*6*)

Alternatively, I might additionally like to have the superpower to clone myself — not as soon as, however twice! One of me would attend all of the crypto conferences and meetups, whereas the opposite retains monitor of the newest information and developments within the house. The third Ming would focus solely on delivery and constructing! (*6*)


5 — ​​What’s the factor in your bucket listing that’s impossible to occur?

I’m afraid it’ll be the one the place I full a part-time program at a culinary college. I’m an enormous foodie. I began making an attempt to prepare dinner on the range once I was six years outdated and I virtually utilized to  a culinary college for faculty, however I gave in to my mother and studied finance as a substitute. Studying and practising completely different recipes has been one of probably the most stress-free actions when taking a break from residing within the limitless crypto world. Keep in mind Monica from Associates? I think about myself to be fairly like her if I truly completed my dream of changing into a chef. Though crypto by no means disappoints — in 2020, I fortunately indulged in all of the meals cash on the market. Meals was truly a big inspiration for Umee, because the phrase in Japanese means “Delicious!” Group Umee can’t get sufficient of the meals coin degen tradition.(*6*)


6 — The place do you stand on alien intelligence and the existence of life elsewhere within the universe?

Aliens completely exist! What we presently know in regards to the universe may be very restricted, virtually much like how early we’re in crypto adoption. The concept life, or no matter kind of intelligence, exists someplace out there may be actually thrilling. Although I’m a fan of (*6*)The Three-Physique Downside(*6*), I’d prefer to suppose that we needs to be cautious when reaching out and searching for aliens. (*6*)


A want for the younger, bold blockchain neighborhood:

I want and hope to see extra ladies within the crypto world use their voices. There’s a range drawback, however you will need to spotlight that girls are already within the house and are utilizing their intelligence to propel the crypto business ahead. Let’s see them shine!(*6*)

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