The inspiration behind SBF in creating FTX! What is the reason for Sora Ventures founder to be based in Taipei and look at the world?

Sora Ventures founder recently interviewed by CoinDesk, shared his reasons for setting up a crypto fund in Taiwan, and his unique strategy focusing on the Bitcoin ecosystem. Looking back at the history of Sora Ventures, it turns out to be a key inspiration for SBF to build the FTX empire.

Taipei, the Emerging Hub for Cryptocurrency Funds

While Hong Kong and Singapore have long been classic hubs for cryptocurrency funds in Asia, Jason Fang, Partner and Co-Founder of Sora Ventures, has chosen to establish the company's new office in Taipei.

Aside from operating funds in Taiwan, Sora Ventures is also hosting the Sora Summit during Taipei Blockchain Week on December 16. Jason believes that the only cryptocurrency companies that truly need to be based in Hong Kong and Singapore are exchanges, due to the regulatory clarity involved.

However, for venture capital firms, the situation is different as Taiwan's regulations and licensing requirements provide them with more freedom to work on the cutting edge of technology without the constraints of regulation.

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Inspiring SBF to Build the FTX Empire at Sora Summit

Back in 2018, Sora Ventures hosted the first Sora Summit in Macau. At that time, Sam Bankman-Fried (SBF), the founder of FTX, also participated in the event and was deeply impressed by the Sora Summit. He canceled his flight back to the United States, choosing to stay in Hong Kong to develop his base in Asia, leading to the creation of Alameda Research and eventually FTX.

Jason Fang still vividly remembers this event and looks forward to the Sora Summit in Taiwan fostering a more vibrant development in the blockchain industry.

Exploring the Future of Decentralized Science

Sora Ventures emphasizes its confidence in decentralized science (DeSci), a burgeoning field aimed at solving scientific problems through DAOs, such as drug development.

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They believe that DeSci has the potential to reduce barriers in drug development and provide better rewards to scientists, beyond just collecting NFTs. Jason's vision is to bring revolutionary changes to drug development in the coming years, providing more incentives and support for scientists. Coinbase CEO Brian Armstrong also supports DeSci and will deliver a keynote speech at Sora Summit to promote ResearchHub, a platform he co-founded that incentivizes researchers to share their work and drive scientific advancement.

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Sora Ventures Focuses on Bitcoin and Decentralized Vision

Sora Ventures' DeSci project is entirely based on the Bitcoin blockchain, making it unique in the field of decentralized science.

Jason is particularly concerned about centralized risks in the cryptocurrency industry, especially the negative impact on innovation and the potential vulnerabilities in blockchain projects.

He points out that centralized risk is a hot topic as it could pose problems in the development of underlying blockchains, potentially affecting the entire blockchain if one of them encounters issues. Sora Ventures' strategy demonstrates their confidence in Bitcoin and their exploration of a broader future in decentralized science.

Sora Summit 2023 | Asia's only "Bitcoin Ecosystem" themed summit, tickets for Taipei Blockchain Week are now on sale!