WebX | Fireside Chat with Justin Sun: Why Isn't He in Jail Yet? Which is Better: Developing DApps or Building Infrastructure?

Tron founder Justin Sun appeared on the WebX stage on the afternoon of the 25th and engaged in a fireside chat with Itai Elizur, Managing Partner of PR company MarketAcross. During the conversation, they discussed many topics related to Justin Sun's life, and the host even asked, "Why aren't you in jail yet?"

What Stage Has the Current Cryptocurrency Industry Reached?

At the beginning of the discussion, Sun Yuchen shared his experience when he entered the United States in 2012, having to carry a large amount of cash and checks to pay for tuition, causing a lot of inconvenience. It was at that time that Sun Yuchen believed that cryptocurrency would be a big deal because all he needed was a USB and to remember his private key, eliminating the aforementioned troubles.

However, the industry's development at present is not as fast as Sun Yuchen initially thought. When Itai Elizur asked Sun Yuchen, "What stage has the industry reached now?"

Although Sun Yuchen acknowledged that there has been significant progress in the areas of wallets, applications, and public chains compared to the cryptocurrency industry with only Mt. Gox in 2012, he believes that the future of the cryptocurrency industry should be able to meet all daily life needs like Alipay, such as payment, transfers, and serving as a bank account.

Sun Yuchen: Developing Dapps Offers More Opportunities Than Building Blockchain Infrastructure

Itai Elizur then asked a question related to Tron: "Looking back to the early days of entrepreneurship, what was the biggest challenge in building a public chain in China?" Sun Yuchen clearly stated that it was "use cases," which is also a problem faced by many cryptocurrency projects today.

"How to make cryptocurrencies useful for ordinary people is the first problem I tried to solve," Sun Yuchen said.

Therefore, Sun Yuchen came up with ideas based on daily use cases and combined his experience working at Ripple, believing stablecoins are a good choice. This is also why Sun Yuchen collaborates with many stablecoins such as USDT and TUSD.

As the industry develops, several L1 and L2 have emerged every year after Tron. However, Itai Elizur mentioned that there are too many L1 and L2 now, and asked Sun Yuchen for his opinion on this.

Sun Yuchen mentioned that it reminded him of the "iPhone moment" in 2010 when various internet companies wanted to build their own operating systems for smartphones, but only Android and iOS remained. He believed a similar situation would happen in the blockchain ecosystem and stated that developing Dapps would offer more opportunities than building blockchain infrastructure.

How Has Sun Yuchen Managed to Survive in the Industry?

Finally, Itai Elizur asked Sun Yuchen about his thoughts on those who have had a significant impact on the industry, such as Do Kwon and SBF, and why he has not retired, is still here talking with him, and hasn't even ended up in prison.

Sun Yuchen expressed that he believes the biggest issue with Do Kwon and SBF is their use of excessive leverage.

"This is very dangerous, as the cryptocurrency industry is already full of leverage before you use any leverage."

Therefore, compared to traditional industries, one must be more cautious in the cryptocurrency industry.

As for why Sun Yuchen is still here?

He stated that the cryptocurrency industry is a "Life-long" career for him, so he always considers whether what he is doing can last for 10-20 years before making any investments. If it can only last for a short time, he would not proceed with it.