HK Blockchain Week 2020 - Fireside Chat: Justin Sun x Stafan Rust

I am Stefan rusek, founder of Sony capital for Maceo bitcoin.com and basically doing a lot of investments in crypto. I'm here today with Justin son found a strong as well as the CEO of BitTorrent. Thank you, Justin free time. Thank you. I think you're a really a famous character, that everybody knows who you are, but I think also a lot of the people in the audience will know that you actually had dinner or lunch with Warren Buffett's, right? And maybe can you share some feedback on? That would be interesting to hear how that wins and what your thoughts were around

that. Yes, definitely. So I have I have lunch with Warren Buffett early this year so I think I like January. So right now we have seen like 9 9 miles or 10 miles past and I mean today's bitcoin price is about like 15 K right at a time. We have lunch is the around like 4:16 and saw Lance Warren Buffett should be sent to me to buy Bitcoin and asked all those Airlines stock at the moment. At the moment we have lunch is like I think it is January 20th, something. So, there is still like a month before the pandemic,

like really. So she has enough time to sell all the airline I'll be quiet and I mean even I'm in Sedalia right? So be quiet and price is about like 15 K. I still believe today is a good time to to buy be quiet or else to like sell. Oldest thought he have here at like that for airline stock today. If you also have lots of stock in traditional of Finance industry and all the bands, I definitely believe. Lone Peak wind show. The bank is a rice Prodigy of, for

any kind of the investor, if especially the traditional investor. Are we seeing this year? A lot of the interest to be quiet these days, publicly-listed companies they find a good way to reserve their Hash Pipe converting. All the cash into be quiet to resist the inflation. Of course we see a square Michael Strahan. Like all the public company has started doing that. I definitely believe Izzy is going to be a good strategy for work. Here has a way as well and also

for dinner we talked about Teslas. Well, obviously weren't by face, not a fan of Tesla Tesla, the prices go like crazy and Scott skyrocketed. I believe we're both of their loss of the classes. This year, I believe in you or be a trans shooting brass in this kind of the digital and goats and digital currency in Uber like an accent. So we we have like a deal with Warren Buffet. We're going to have like a dinner in the next 10 years. So, in 2030, Live in in in 2030s we will like rear wheel like all that strategy right.

And then to see at a time I I believe be quiet. Maybe I already a ball like $1000000. Yeah, I just and was he very pessimistic about scripto in general. I mean the oldies new companies, he doesn't understand but also crypto, just what the media says is accurate. All I talk to you or about about like the misunderstanding cry. All demands for immediate family have will be quiet and also on the same time because I think Warren Buffett don't have lots of time to dive into cryptocurrency in the

first place. So that's why I bring like Charlie like myself founder of it. And the exact he was seen by any chance and the Warby try to educate him about like older. The wallman's happened in our industry right now and I, I did believe Warren Buffet. That has some positive feedback about cryptocurrency and block chat in general with us about like that JPMorgan and Wells Fargo like older. Albany has he had invested and it's also very enthusiastic about blockchain by JPMorgan. This year

I see on the news. They even like you moved, you on crypto bank e-banking. And also they have any embarrassing loss of the company's doing blockchain. So that's why I definitely believe. All this is a good opportunity for like all the Warren Buffett portfolio to do. I expand their business in crypto and I believe or 1 battle also seen. This thing's going to happen with the beginning to move. A lot of that balance sheets and that tries to reason to crypto as a means to hedge

their exposure, to the US dollar, right? Exactly, exactly. Primos in the industry, being a great Market pier and I think in an industry that's very much is dominated by Engineers. I think it's always refreshing to have somebody in the marketing side, right? Your meal with Warren Buffett and how that God translated around the world, your Acquisitions of BitTorrent and steam it, right? So a lot of those activities but of course, that's paying comes with a lot of criticism, right? Till

you get a lot of slamming on Twitter as well. So you have to deal with that. So, how do you manage that in your day-to-day life? Does that upset? You just know what? I don't care. It doesn't matter, or how do you feel the call? So, I'm at Biggby off of branding and marketing. For sure, I believe I want to take a be quiet as the example, right? So I'll be quiet when I get my first born, on, in 2010. I think most of the people don't understand, like be quiet. A lot of the people at that time. Like be quiet.

It's a scat write compared to gold or are u.s. dollars. You know, you need lots of the time to explain the people and Technology to the Fallen. Are you so quiet around? Like 2012? I read the article in the New York Times about be quiet. You are like mainstream media. Is Conecuh skeptical about be quiet. They will always say like, I'll be quiet, just like some fantasy of like, keep the wallpapers have actually Dubuque why do have like any real value? Is

this is just like a bunch of cold. You know what I like to hang in there hurt. You know, don't have like a chocolate. I did believe the mainstream media, give everybody a chance to learn about be quiet in the first place. So that's why I'm kind like a great war of all the like mainstream media about like be quiet in the first place. Even I need your attitude, may be skeptical. But I mean, they gave me a chance to know about be quite the first play. Imagine if we don't have this kind of Courage from New York Times, I may

not even know about be quiet in 2012. So we'd like completely like change my life. So that's why I put myself was talking to my my own cryptocurrency Twila and other projects like these foreign and so I'll I believe. The first thing we need to do here is to make everybody be aware of cryptocurrency and be aware of be quiet in in the first place. Instead of like, Friends. Who are you? Okay. Everybody should know. I have to be quiet really works. I wish I mean

99% people won't understand we just like make everybody be aware of cryptocurrency first so that's also I have this kind of the auction of Warren Buffet dinner like a loss of the people know about cryptocurrency because of the scanner. I even like Pega example even my mom's like dentist. I asked her right right? Eye has a laundry up with Warren Buffett and the g he is doing like some crippled cars it. Right? So even if they will never have time to know about cryptocurrency it if I don't have like lunch with Warren Buffett so that's why

I believe this indeed is a it's a definitely a good way to you last. Everybody know about cryptocurrency us. I mean, at the end of the day, I'm I believe cryptocurrency going to be used by everybody else is just like internet, right? At the end. Everybody going to use it. So we so what I'm trying to do here is to accelerate this process rights just like internet. So nobody know about in Snapchat, right now, you know, even like 5 years old cheese is enjoy like a iPad

and the older internet device, right? That's why I, I believe at the end of the day, are we definitely going to be there, but my mission is just be accelerate these kind of the process. So that that's why I definitely I believe all these kind of the way we'll have some criticism. At the same time is kind of the criticism is also like a Way to raise people's awareness about technology in the first place because he's going to provide provide us an opportunity to explain this to

the mass in the first place. So I think controversy is a good thing, especially for new technology because people need time to swallow ads to understand to digest rice. So that's why I think we will do more in the future. Get my I just got, I had to Physio therapy appointment on my physiotherapist to accept Bitcoin cash as well. So, you just need to ask people and more and more people. How do I start, where is what do I do? How do I get into it? And so I totally agree in the more transaction and volume, you dry the

better. It Exactly, I'm sure you you know, from your background, it's just interesting. Why? You just mentioned in 2012, you read about in The New York Times about Bitcoin. How did you get into Bitcoin, right? What was the cry? Did you get into crypto and what was the incentive to start Ron? I think, you know, you only young guys out there finishing University. What should they do that? You don't get him to quit though, right inside. Okay, so how did you start writing? Think that's super interesting. Yeah, yeah, exactly. I think the first thing, what about New York Times? I wish

my sanity me is just kind of the money, you know, kind of division. So I'll touch me in the first place and the other time is feel. I want to give examples here is so everybody when they pass a costume, right? Has light like some kind of the roots ass. Like you can possess like more than like Hey, u.s. dollars and Andy if you have more than 10K, you as far as you need to, like the eclair to the custom or they going to confiscate it all the money you have here. So and then think I like all the dogs sniff around and I'll try to

ask you. If you know if you have like a Shinobi going to discover thought I remember at a time York Times, They have an example writing about. If you swore like evil like a ball like at one hundred million dollars in US, be in your wallet, right? Very small electronic device. You know, you campers that look like 100 meeting be quiet, right? There is no way for the costume of Customs or any like, caramel officials can know you actually, what was like, 100 million. Kind of the way you make me feel like

these kind of the digital dollars. If it's extremely cool and I'll come here to the cash in the first place, you know, of course I believe today. If you have like be quiet, you need to transfer cash in your report. You owe the IRS about Steve kind of the digital dollars. Make me feel like a deceased next era, you know. Next like these little goldfish from an e-gift card of the PDP money into nominee is Daphne. Something is institution also. That's why I after I graduate from University of Pennsylvania, I want

you to gallic crypto job. That's why I got my first crypto job in triple. So that's how I get into crypto in the first place and then Back to you 2017. I believe, I started excercise AR-15 when it first launched and creative, everybody is complaining about the sickle ability problem, right? And you know what I mean today? I believe in Syrian 2.0 is still like fat far away, you know, it may like takes yours to choose what you got there. So that's why I believe a highest going to be in a smirk on her platform is Stephanie, one of the most

important things we need in this industry. So that's why I found its usdt. Oh sorry. I found its 12 and then later a week library with you as the key to have this kind of the weather on trial. Right on today on Troy's, the large is the application in our industry. It's process more than half a meaning transaction everyday. So so that's why I believe these kind of the highest get Beauty Supply contract platform is Stephanie important in our industry. And I believe

the Morty wallpapers and people going to work on a 12 Solutions are to deliver the shape and Foster a way of the to talk about the smart contracts and and a lot of the DeSoto of money, money management. My service was like, decentralized rely heavily on Smart contract and you yourself Tron has launched a number of really interesting product. Like you've got a defy product called just your godson for staking, and then you've got the just swap, which is the exchange, right? One hand, again, coming back to your marketing Brilliance, they all have your name in them. I mean, was that a

reason why you chose that or why did you choose to have all your name? I think everybody was asked me to have his name and all of these products. But yeah. So serious that you kind of the on cryptocurrency in our industry. One of course like be quiet like behind cash. It is all about the payment and also value storage right now. So this is kind of like the photo the stuff or she Vision in the first place is a P2P money. Currency is more like he's here at

12, you know, it's more like a contractor form. So difference between, I think trial and be Quiet, Riot of my contract platform is. So basically we offer you, our offer is kind of a very sophisticated way or to create its own Financial Services, a single mark on her platform. So, so that's why I think it's the first de France. So we don't need because we just providing the ecosystem, while I car door for you to do. Wow, your ass and defy applications from platform. So we are more like Apple Store light like a Google Play so you can

feel free to do you wipe your own ass staff and the default application services from passport. So so that's The first thing I know, of course we collaborate with loss of the community developers and an hour trying to do our present as well to do as you say a lot of amazing DIY products of how about the trial. So first of all, I think is not like same with just such a cool name because first of all, it's like Nikes a slogan, right? Just do it. So yeah, we have like just walk right like right on this kind of the this

kind of just letting you know. I always like flies like a very enthusiastic stick way to express our like our enthusiastic about the incident. Call Spotify, just do it. Just linked just left, right? Is kind of the way. And then, of course, I think it's also stimulates. My last name is also easy for people to remember people in the industry to know my name. You know, just in town, but they didn't even know. Sometimes my name is even like more like a well-known painter, the phone Brad. So that's why are we want you to name our, defy ecosystem, dunno? Quite just

bring like more people's awareness about the about the product. Nothing particular this year, we saw a huge jump & rides near where is 45 project non custodial Services. Delivery services right? Nothing. Did you know? It started a centralized exchange has moved into decentralized exchanges and you've always managed to innovate very fast yet. At the same time. Partners to work on top of the Tron ecosystem or in the tron ecosystem of top of the Tron blockchain, right? Give a great deal was pulling your example. They wrote out there, be fair exchange on top of Rahn. What do you think developers

look for when they work with traun, right? That mean, are they looking for the right tool sets? Do they want money? Do they looking for distribution or are they looking for a set of awareness and marketing support with the Tron brand name that you just mentioned earlier? Beauty in the infrastructure, about 4 for the people purse in the first place. I think there's several things when you do it here. First of all, we we, we want to build a very reliable infrastructure for all the developers in the first place. So, today, I will not only have like

strong as a platform is a very reliable. Small town, Trap Half. Warm is cheap fast and the high school. He and also, we have all the chores that for Tandy, wallpapers like strong gray on Chromebox, tronscan like falling like, like the older ecosystem support. So I was hungry. So you can gather all the data API and and and all the chores that you need to be with you. You have to peel, downtown box, and hungry IDE, and also task, and is a data platform pieces,

like a Broadcast browser. And even do I have water and also we have numerous Wallace for, not only trying, but also and how can a male, koala Treasurer and the an oldie kind of the wallet support is also very important thing we need here are we need a very Diversified availability to the do Whoppers. So on trial all week, Lab Rats with u, s h, e l and the top upcc and and also we have our own like PTC on fall on today on USB. Key is five billion dollars. Are you a squishy out of r e, a b d c on phone is almost two point five

on 250 m in US dollars. With other, you all prayers are with you all, but loss of the assets on the compound form and also of course, we are collaborating with more stable coin providers and also other ask that you sure, it's on our platform voice. And Pulaski are, you know who David Hawkins is also available on. Warm sweet. We got like these kind of the old kinds of the different platform. You know, I'm done with Roblox hat. So that's also I think it's important is the SS distribution and also course, I think the exchange support, it is

very important as well as Appliance support deal. Of course in the most likely worst major exchanges and also a lot of the projects doing on Trial are we seeing them has been supported by a whoopee open has betrayed us like Florida expensive for like a whole different kind of Ki ki do I owe mxc? So different kind of exchange supporters of the tram project. So that's why I believe this is very important because they provide liquidity to the light like that at

the golfers on the phone block Chan. So, I think we will always trying to provide to the past, the wallpaper on supports. This is more like an infrastructure support to all different kind of the developer in our industry. Yeah, cuz if you go on to that braids are you know, you've seen you see a lot you know, Colin is always up there with the most number of users active users. The most number of apps so it's obviously your ecosystem engagement is doing well not only from a liquidity standpoint but I actually also from a

developer capture and Community element is super important. Exactly. When you look at one of the trends that sort of everybody's predicting it to grow, right? We got d v i today and it's obviously going to mature a lot more. We're going to get richer and services with going forward. How do you see? So, they know if, you know the whole NFC space, right non-fungible tokens. Everybody's really excited about this. Not only in the sense of cartoons and digital art, but also a sense of digital certificates, issuance health records real estate

Deeds land property, Etc. How do you see the NFP space and where do you see through the Tron playing in that? Going forward. Is that a big Focus for you as well as for sure today's election having United States has a lot of controversy or if we have like a blockchain wallet we will not have this kind of that it feels at all you know, and the we will know the election results. I need maybe five minutes after the yeah, we don't even need me. Like, I was like, a way to call me later, like, at the boats, right? Everyone will be unique but also the same time

we we we can visit anybody to order the both Ryan. And also the same time is where is it? You are to verify all the balls in the first. Everybody says people always talking about like when I move away from my home I can get like a month. It's because because I kind of my address and also your boys questioning like how we can verify, the people who are basically do the mountain by, this is the real person right now, all the things can be solved by freaky with like a boss Chain Solutions, FSU psoriasis in

the future. If we not only like two full pallets, we can't have this kind of the end as he like blocked him. Way to solve them also for like certificates, right? It's also a voice sample. Like, lots of people graduate from like, how are you? And then they go back to China and the Chinese people will always say like how I can verify you. UA from you in the first place, why would be lost like a yellow key them provided? He's kind of, the way you can check. I like the TV case, right? So that's why I think like like-for-like old, kind of the certificate.

I only like you at Pacifica, you care from like University it, right? So I don't know if you like, watch the movie, Catch Me If You Can in in the Midwest states and then he graduate from Harvard Medical School at me like that. All these kind of the things like, by the end of the block as I thought, I definitely believe this is a big trip especially with one this year, right? So for the year action, for something I think is ready. Before then we already

know. Like we need like a block Chan to provides a perfect solution across the globe for this kind of this kind of situation. So I believe like this is not fall. So I think it in long-term, 5-10 years, I believe, like most of the data. If you need a verification, you have to move to block in the first place. This is your only choice. I'm obviously I think I drink the same Kool-Aid, right. I'm on the same page as you are on that one. And I think the challenges that we will experience is we're transitioning from a world where we're still be marked

by land lines on a piece of paper. I will be lying that say this is a border but in the digital world I'd like you. And and and one of us in crypto, we're always traveling across borders. We have teams that a decentralized, so it's very difficult to just work within the boundaries. And when I change address, how do I manage that? And some people just leaving an address for three months, then they move to the next city, especially for mounting bodies for the government

needs about identity. You know, about Cesar, Chavez To manage. So that way I believe like I believe in even in the next flight 103 years sound like Space by my state. You have this kind of the new way to identify like people, like how do I verify people in the first place overseas? Take a lot of time to mail back into the United States in the first place in the future. You know, you can vote wherever you can, and the cost like, Santa's, right, even right. You have both

by f. I u r. Secret key or at like, like out by Pharell metrics, right? And then the only time it takes is just like the signal sent back to Earth to know it's going to take, you know, you don't need like so you don't need people to In the first place. I recently stayed at like, the news like this, I like Wisconsin. Going to be doing like a recount, but the deposit for Rica is like 5 million dollars right now, if you want to check these for you for like 5 minutes

and then called $5000000 is enough to build the broadcast system for the palace in the first place. Why is 5 million dollars of Beauty in the blockchain solution address? You can use it forever. That's me, that's so true, right? I think existed of, you know, I think one thing that that highlights is blockchain is just at the beginning, right? I mean we're going to tackle so many different Industries and they're going to be so many new opportunities that going to be addressed by a government system that is in a consensus model and tight and there's tokenomics

associated with it. So then all of a sudden there's a smart contract that actually ties that business model to a currency and Identity or a certificate that is in that consensus model and ultimately everybody can participate because everybody has a mobile phone today. So we are driving total, social inclusion, and creating a whole new sets of jobs opportunities for developers business and software like to scale and, and support a more efficient environment. Exactly, exactly. I'm trying out for the money is there, but one

thing, I know it was running out of time that I'm going to ask you this one question, right? There's a lot of criticism in the crypto world around two big companies, right? One is the App Store and getting your app. If you have the name crypto in it, you have to bounce to the whole set of New Myrtle and especially in the video, if you're on YouTube, a lot of the video YouTubers and the way crypto communities communicate with each other through YouTube, and it's very difficult if you've got word crypto in there to get listed or be delisted from YouTube. And I think how do you see said of

deal? I am bit torrent, play into that market and maybe capture that opportunity and take that Community with you. Bethany I believe like will be for an empty life. We want to add a locate like the umpires like neutral, a decentralized live streaming platform and the storage distribution platform for everybody. And of course, we all know this is the largest decentralized file transfer protocol in the world. Today we have over 100 million active users of our

platform. Everybody like including Facebook, treat her, like all the giant companies and also FBI US Government are UK government, and also University Harvard a year. They do use our protocol as a way to transfer the files and are we want to expand this, you the storage? I'll for sure. And today we have seen a numerous amount of the people are also try to The war on terror files. On the bee swarm platform is easy to GFS on FiOS, is that easy to share your files between one another? And also the same time, he's he's very decentralized. Nobody can control our

files on a Kyocera try. Today's asked for and also YouTube is his attention as platform or they have the application and also the same time if they don't like some kind of accountant is the impurities crash at number. I like the ultimate Lee and in the future we will eliminate odor authorizations. You delete the other people's files in the first place. So wise about that today will be four and we don't know like what people is transferring And then for Piedmont fire system, we don't know what you

are, like a storage in the file system in the first place. So that's why I believe this is kind of the future. And this is kind of the way. Are we want YouTube use the internet in the first place? And the boys are more like for Twitter. I think he's the same, you know, what, hit her like ready. They can a flag and and then also deletes its or suspend your account and you had your right. So you can do whatever you want. You cry. You can post whatever you want and you know, nobody can't really see it. It's always a plus,

it's super interesting. Thank you very much for your time. Justin, Justin son, found a strong and CEO of the torrent. Thank you very much. Thank you. Thank you.