Thanks to He Yifan, China is pioneering its own state-backed version of Web3, internet infrastructure that runs on blockchain.
Illustration by Luis Grañena
He Yifan thinks cryptocurrencies are a “Ponzi scheme,” but his Hong Kong startup, Red Date Technology, relies on their underlying technology, blockchain, to revolutionize the internet.
Blockchain, He told The Wire, “has actually changed everything in the future — it’s changed the entire IT-tech picture. I’m not saying the current internet will be replaced. But it will be just one of two layers.”
He Yifan presenting at the BSN Hong Kong Summit. Credit: BSN Base via
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