Tuesday, June 15, 2021

Well Known Blockchain Investor Mr Ryan Xu: Encrypted Currency May Become the Next Digital Oil in the UAE

Mr. Ryan said that in the first phase, they are going to move their crypto mining business in the UAE to create their very own cryptocurrency platform in the country besides launching ‘stable’ crypto ‘token’ based on UAE Dirham as a payment method for common use. There are crypto tokens based on different regional currencies like dollar, pound sterling and others and from our perspective, we think that this is the best opportunity to introduce a new ‘token’ cryptocurrency locally to fill the gap,” he said.

The Co-founder of Blockchain Global, Collinstar Capital, and Rongyitou Internet Financial Services Co. Ltd, Melbourne-based ‘Martian’ Ryan Xu is one of the most influential Key Opinion Leaders in the Chinese Digital Currency and Blockchain Community. He is also a member of the Asian DACA Blockchain Association and Chairman of HCash Foundation. 

Mr. Xu has been dedicated to the Bitcoin industry since 2014, with extensive experience in Blockchain, mining, and investment. He brings special expertise to pioneer Blockchain technology, expand into new markets and leverage new platforms that are especially timely in a fast-changing business environment. 

In his new role at Code Chain New Continent Limited as the Chief Strategy Officer and member of the Board of Director CCNC, Zijing (Ryan) Xu said this in an interview in Dubai., Mr. Xu will be the driving force behind the Company’s strategic focus on Bitcoin mining. Mr. Xu will also help drive the Company’s continued growth by leveraging his extensive professional insights in Bitcoin and industry influence to guide the management’s cryptocurrency expansion and development efforts.  

In addition, the reporter asked Mr. Xu about other aspects of the blockchain plan, especially in 2021 Mr. Xu has established a new team in the Middle East.

In regards to the crypto mining machines in Dubai, Mr. Ryan responded that the team is finalizing their side of the work from installing the ‘2nd generation’ crypto mining machines in the country while also waiting for the local regulatory authorities to announce the regulations and start issuing the license. Mr. Ryan further stated that they were working to put their resources like crypto mining machines in the UAE as these will be 2nd generation to use less electricity and more eco-friendly and based on high-speed internet infrastructure

Responding to the rapidly fluctuating Bitcoin value in recent months, Mr. Ryan said that there are good sides and bad sides to it. In terms of the negative side, people get afraid as they do not understand the mechanism and the reasoning behind the rapid change in the price especially when it drops. As for the positive side, the value of Bitcoin is like a baby that is frequently expressing different moods despite its rapid growth.

Shedding light on the company’s strategy, Mr. Ryan said that in the first phase, they are going to move their crypto mining business in the UAE to create their very own cryptocurrency platform in the country besides launching ‘stable’ crypto ‘token’ based on UAE Dirham as a payment method for common use. There are crypto tokens based on different regional currencies like dollar, pound sterling and others and from our perspective, we think that this is the best opportunity to introduce a new ‘token’ cryptocurrency locally to fill the gap,” he said.

He further said that they are working on installing appropriate technology as well as furthering their marketing strategies to launch the local cryptocurrency as soon as possible once the local regulatory authorities give permission to issue a certain license. He expressed his excitement over the launch of their local cryptocurrency to grab hold of the perfect opportunity in the region.

Highlighting the company’s future plan in the region, Mr. Ryan said they believe that the UAE is a financial centre for the whole Middle East region and the district as well since most of the countries are relying on oil but wishes to change their oil-based economy system due to the rapidly changing environment in the world along with its revolutionary inventions in every sector. Mr. Ryan said that he thinks that blockchain or cryptocurrency could be the next big trend in the future as the next ‘oil’ or ‘digital oil’. He said that users who are looking for an opportunity would require the internet, big data, and all other kinds of online financial activities as this will be the new future.

He also added that the UAE should grab the opportunity and become the pioneer in the blockchain area as it has already done made a very impressive achievement like being the world’s first company to launch the Hope Probe to Mars. Mr. Ryan said that he thinks the UAE government should take the first step to put some cryptocurrency as central bank reserve so that it can be the first in the world to do so when cryptocurrency eventually become mainstream and result in competitions among world’s governments for percentage in crypto market. Today, the governments are competing for more gold reservoirs and soon the fight will shift from the gold scene and revolve around data, cryptocurrency or blockchain technology and whoever makes the first move in the beginning will have the best advantage.

Finally, Mr. Ryan Xu closed the interview by saying that he was pleased with this excellent opportunity to firmly root in the Company’s strategic direction by offering his knowledge of the Blockchain market. He also said that he looks forward to being a part of this to the adventure ahead.

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