In 1950s, a large amount of gold was discovered in California. The news of gold brought approximately 300,000 people to California from the rest of the United States and abroad leading to a California gold rush in the west. Through this incidence, San Francisco grew from a small settlement to a boomtown. Today, one and a half centuries later, United States especially the Silicon Valley in San Francisco, remains the land of global entrepreneurs. The entrepreneurial story of Silicon Valley’s technology giants became famous overnight, making it a holy place for countless Internet entrepreneurs.
Similarly, in the recent years, San Francisco has become the framework of blockchain innovation. Whether it is blockchain technology innovation and entrepreneurship, industrial investment, industrial upgrading as well as talent development, it has led the growth of the global blockchain industry.
On 28th October 2019, the “San Francisco Blockchain Week 2019” that lasted for a week was launched in San Francisco as per scheduled. During this meeting, the U.S. Securities and Exchange Commission Hester M. Peirce, The Member of Congress, United States House of Representatives Congressman Warren Davidson, The United States House of Representative Ro Khanna, the Founder of Ethereum Vitalik Buterin, The Executive Chairman and Co-founder of Ripple Chris Larsen as well as the other great personage and Blockchain project star gathered together. Among them, BitCherry founder and CEO Paul was invited as a distributed business representative to attend the main event of San Francisco Blockchain Week 2019 on 31th October 2019. During the event, he had discussed the application and prospects of distributed technology in the commercial field.
During the meeting, BitCherry founder and CEO Paul pinpoint on the blockchain development condition in the US based on the topic of “The future applicability of digital currency” under the panel discussion session. The development goals, direction, and BitCherry sharing concession ecological construction had created set an important strategy. Paul mentioned that United States is one of the most important markets for global blockchain industry, and San Francisco itself is an active market for blockchain capital. Here, BitCherry will brought together well-qualified local resources in San Francisco, fostering the development of the local enterprises, in order to build a blockchain industry ecosystem and to promote the sound development of blockchain ecosystem.
It is well known that San Francisco maintains the tradition of the development of emerging technology industries in terms of technology research and development, entrepreneurship, investment, and talents development. It also plays an important leading role in the development of the global technology industry. Especially in the area of the blockchain commerce, you can see that almost half of the top 100 blockchain startups in the global market capitalization come from Silicon Valley, covering the entire industry chain of blockchain. For example, Coinbase (The digital asset exchange), Ripple (cross border payment), Blockstream (cross-chain transaction), and financial blockchain application chain, as well as many well-known projects were born in Silicon Valley. In terms of industrial investment, Draper Associates, Andreessen Horowitz, Polychain, Digital Currency Group (DCG), Union Square Ventures (USV), Danhua Capital, Plug and Play, Y Combinator, AngelList and other top investment institutions and incubators have established an investment funds for blockchain and digital currency, whereby a huge amount of funds have been invested to cultivate and incubate blockchain startups in Silicon Valley.
Of course, in addition to the new types of startups, established internet companies have also accelerated the development of blockchain business and promoted industrial upgrading. To top with that, Google’s cloud service team is working on R&D related to the blockchain and even provide developers with blockchain related cloud services, Amazon has also launched blockchain templates, and Facebook’s itself has launched a blockchain project called Libra that has ignited the traditional enterprises breakthrough. On the other hand, in terms of talents development, Silicon Valley’s industry-university-research cooperation has become a common practice. As for this, Stanford University offers courses such as Beyond BitCoin Class, and Berkeley University has established academic and commercial partnership for practice and research in the blockchain field.
As one of the important stations for BitCherry activities, it is not hard for us to see the globalization layout of BitCherry that San Francisco had carried. In an environment surrounded by global technology center, accessible technology direction, and talents pool, BitCherry is inevitably reaching a new height.
On the day of the meeting, Paul also shared his insight on the worldwide government’s supervision of the blockchain. He said: “Returning to rationality is an inevitable trend in the development of the blockchain industry, the entire industry will also return to the technology and commercial value itself and in this case, the regulatory authority will play a very important role. Of course, the so-called supervision does not equal to prevention. In fact, before the blockchain project is implemented, the regulatory authority can keep a look out on the potential risks. For the blockchain to develop in a healthy and orderly manner, the regulatory mechanism is an indispensable part, thus we must view the role of regulation positively.
If we agreed on the point whereby technology is driving the business to be increasingly alienated, then what BitCherry had done, is the same whereby it is using technology to connect businesses together.
Of course, the word “connect” alone can’t completely summarized what have Bitcherry done, and these things themselves might also difficult to describe in words, but you will definitely be able to find the answer though the subtle or grand business design of BitCherry.