Crypto Extrodinare Jack Lu Gives Insight Into Wanhain’s Inner Workings
Although the crypto market has tumbled by over 70% since the start of 2018, the push for innovation in this budding industry remains at all-time highs. As per a , Jack Lu, the CEO of the fintech-focused Wanchain project, gave crypto investor Lil Uzi Vertcoin an insight into his past and Wanchain’s inner workings.From his time at , relationship with , to today at Wanchain – check out my in depth interview with Jack Lu, the Founder and CEO of — LilMoonLambo (@LilMoonLambo)
Following his first capital allocation into crypto, friends of Lu asked him to look into Ethereum, which was in its earliest stages at the time. After some time researching the project, he fell in love with Ethereum, quickly realizing that he could utilize his experience as a software developer to code on Ethereum. At the same time, Lu was offered a position as the chief technology officer (CTO) of Factom, which would become his first crypto-related job.
While at the Factom project, the Jack Lu met Ethereum co-founder Vitalik Buterin, with the CTO quickly garnering respect for Buterin in a friend and coworker capacity. Speaking more on his relationship with Buterin, Lu stated:
Throughout his two-year stay at Factom, Lu gathered essential information, skills, and ideas that led him straight to the formation of the Wanchain project, which became his next step in the cryptocurrency industry.“I would say that I look up to Vitalik Buterin, I read almost everything about him when I invested in Ethereum’s ICO… I worked with him for a long period of time, in fact he helped Factom a lot on the whitepaper and technical solutions. He lived in China for about 9 months and we had a lot of opportunities to collaborate, both online and offline.”
For those who are unaware, Wanchain is a project that intends to “shape a new paradigm” by creating a digital economy via a variety of tokenized assets across multiple blockchains. So what’s Wanchain’s role in this digital economy? You may ask. Well, Wanchain will ensure that participating blockchains will be interoperable in a seamless and efficient manner. While this sounds like an ambitious plan, as per Jack Lu’s aforementioned interview, his project has already seen promising preliminary results, garnering support from many investors and forward-thinking innovators.
Along with Wanchain, Lu runs the similarly-named Wanlabs, which aims to facilitate and incubate promising early-stage projects. In some ways, Wanlabs is near-identical to other blockchain incubators, but Wanlabs has a focus on aiding its ‘incubatees’ by connecting blockchain projects, ensuring the implementation of privacy features and “laying the foundation to make it simpler for projects and institutions to build, connect and exchange value in the form of digital assets.”“The Market Will Always Over-Correct”
Closing off the interview, host ‘LilUziVertcoin’ asked Lu about his “thoughts on the crypto market” over the short and long-term. Citing his five years of experience in the crypto industry, the experienced investor noted that a belief in the underlying technology (blockchain) is important for any long-term investor. Lu added:“If you believed in it back in 2013 and 2014, even investing a little bit of money and leaving it for several years would have made you super rich… The market will always over-correct. Stick with the good projects that have a good vision, and enough resources. They will survive the winter and come back even stronger.”The Wanchain CEO also noted that short-term speculation isn’t the best investment strategy, elaborating by briefly highlighting his ideology of “sticking to very few (cryptos) for the long run.” Although this statements sure sound bullish, Lu remained cautious, noting that nobody can predict the price of action of any market and that prices could continue lower. But then again, as Lu alludes to, accumulating while prices are low could yield “humongous” results in the future.
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