Mars Finance Q6: BitTorrent was very popular in the very beginning. However its popularity went down following the birth of Netflix and domestic video platforms such as iQIYI. Now BitTorrent only has 170 million MAU How would the incentives make a difference to the content industry?

Justin Sun: The entire blockchain industry will be subverted by ProjectAtals. Currently, there is only a maximum of 10 to 20 million users in the industry. But we have brought another one billion users and 170 million MAU, which is also an enormous boost for BitTorrent. No one uploaded torrents before. Think about how BitTorrent gave Sony, Time Warner, and other old film giants big blows. It’s very likely that Netflix will be overturned in such way. On the one hand, we have a huge impact on the traditional industries. On the one hand, the wish of Satoshi Nakamoto has finally been realized, and blockchain will be massively applied. We think that Project Atlas will be the first blockchain project to gain more than 100 million MAU in its first month. We will be like Yahoo in that Yahoo has made Internet accessible for ordinary people on a large scale. We are very excited about that.

Mars Finance Q7: For example, QvodPlayer was banned because it involves pornography, so is it necessary to filter the content on BitTorrent?

Justin Sun: I think it is QvodPlayer’s own problem. If you store content by using a centralized server, you must be responsible for the content you store. But we never know what information will be spread on the BitTorrent network. We will always stick to P2P. For Thunder and QvodPlayer, P2P is a gimmick. Their transmission is actually realized by a neutral CDN. Of course, the speed is faster.

We only provide protocol transmission, so we are exempt from regulatory risks. We are also willing to cooperate to monitor the illegal contents. Whoever uploads the illegal content should be monitored. It’s like if someone uses the Internet to do illegal activities, the police will be after them, but it has nothing to do with the Internet itself.

Mars Finance Q8: BitTorrent has never found a profit model. Now with the incentives, it does not need a profit model, as long as the community users continue to be active. I think once BitTorrent starts, there will be some good content.

Justin Sun: Yes. We don’t exclude the possibility that Satoshi Nakamoto will come back to join our team, and maybe Satoshi Nakamoto disappeared just because he hasn’t found a good project except Bitcoin. BitTorrent will become better and better, which is certainly what we want to see, We think our greater mission is to rejuvenate the fourth technology of the Internet as you said just now. We don’t care if it generates profit; what we care about is if the entire BitTorrent community is revitalized and people who contribute to BitTorrent is benefited from our effort.? We are trying to do what Jack Ma has been doing: he always puts the interest of small businesses on Taobao before making profit. We also believe that Ali can operate well as long as small merchants can make money. We think that if all BitTorrent users and contributors can thrive, the protocol will be able to flourish as well. Mars Finance Q9: Community does play an enormously important part.l. We see that BitTorrent has channeled such a large number of active users, which is actually good for the public chain, but how much does BitTorrent have to do with TRON?

Justin Sun: We provide BitTorrent with the entire blockchain solutions, , and their reward mechanism also runs on the TRON public chain. While the specific amount of the rewards is still undecided, it will definitely use the TRON Protocol.

It’s not because we bought BitTorrent, but because neither Ethereum nor EOS would work in this scenario. It’s a natural choice if you’d like to have an efficient and affordable blockchain.

In response to the BitTorrent founder’s leaving: Coindesk is deliberately disgracing us

Mars Finance Q10: Why would you want to acquire BitTorrent?

Justin Sun: I’ve always been interested in decentralized technologies, which is also the reason why I founded TRON in the first place. Then we went up to BitTorrent, for they were really one of the best companies focused on decentralized technology. . There was a lot of interaction between us. At first BitTorrent wanted to apply blockchain technology to their projects, so I started out as their consultant, and eventually they decided I was the best person to do the job. So I was already a consultant before I become the boss.

Mars Finance 11: Sounds like everything happened so naturally,but is it true that five employees had left the company since the acquisition?Justin Sun: This is a false report by Coindesk. The actual founder of BitTorrent, Bram Cohen, left the company in 2008, and after that, BitTorrent was owned by one of the world’s most famous venture capitalist DCM. So to sum it up, Bram Cohen left the company way before we bought BitTorrent.

In fact, , Bram Cohen has been talking to us recently after the acquisition, hoping to be our consultant. . He thinks this could go somewhere, and he is now discussing with us about potential cooperation in the future. It’s true that five employees have left us, but we also have 21 new hires. Of the 5 people who left, 3 were interns who needed to go back to school when their internship ended, the other two are the only ones who left us due to difference of opinions, and they are not major executives. I think Coindesk’s report lacks evidence and is clearly based on wrong facts. Our U.S. office now has about 60 people, , which is a substantial expansion.

Mars Finance Q12: Or maybe you’re a young Chinese entrepreneur buying an well-established American company. I noticed that you also acquired the top-level domain name Blockchain.org.

Justin Sun: This is the top-level domain name of blockchain industry. We want to make a general blockchain search engine so that all accounts and transaction data can be queried in the same search engine regardless of what public chain ( TRON, Bitcoin, Ethereum, EOS etc) they are on. We also want in include trends as well as the comparison of all public chains.ll the data will be publicly available on the Blockchain.org website, We are doing the transaction data, but not the news data yet. We will also have tutorials later to enhance the credibility of our website. Many of the blockchain tutorials are wrong. We want to make a portal site that makes significant contribution to the industry.

Buying all the way, but the acquisition is very clear and restrained, only the protocol layer.

Mars Finance Q13: Are you planning for other acquisition in the future?

Justin Sun: Absolutely Acquisition strategy is a very important part of TRON’s strategy. We believe in this industry; so we will continue to invest and to continue to acquire promising projects and excellent teams .

Mars Finance Q14: there will be integration issues with acquisitions. One example we see is Lenovo’s acquisition of thinkpad, which took a lot of effort.

Justin Sun: We think we will be fine. Lenovo’s acquisition of thinkpad actually faced a lot more problems in terms of industrial chain and personnel integration than we do. We only had 40 or 50 people that need to integrate, but Lenovo had tens of thousands of people that need to integrate with the IBM product line. So, It’s definitely harder for Lenovo than it is to us. Secondly, Lenovo and IBM’s corporate values are not necessarily in line, yet our corporate value is highly aligned with BitTorrent’s: They wanted to make the Internet more democratic, and we are trying to make the Internet more decentralized, so far, we have basically completed the integration.

Mars Finance Q15: In fact, TRON is like a pioneer. At first you were criticized for not having a specific landing, but now we can actually see a clear strategy: first, you tell a story, and then, the big acquisition. Have you been planning for the acquisition since the very beginning?

Justin Sun: It is not really true in this way.e started by focusing on the TRON public chain, then started to expand horizontally after the public chain was doing well — buying BitTorrent, of course, we had some real business landing. We have given and taken in expansion, there is absolutely no exchanges, no wallets; we only focus on the protocol layer and the aggregation layer, not the actual application layer, which is a very important value orientation in our strategy.

Too many people in the application layer are superior to us. It doesn’t make sense for us to do it. We have had a good synergy by cooperating with others. So we only do the protocol layer scenario, and actually, the acquisition is very clear and restrained, we only do and only acquire the protocol layer.

Mars Finance Q16: So it’s a T-type strategy, doing the horizontal expansion of the public chain. Actually, the horizontal way is right, because the protocol layer is actually a relatively basic thing, and changing the applications on the protocol layer can change a lot,. ow that exchanges and wallets have become the small giants, hey may be just a small scenario in the application in the future.

Justin Sun: If we’re going to do it, we must do it better than others,. we’re not going to do it just because it makes money. Otherwise It doesn’t have any meaning nor does it have any added value to the industry.

Mars Finance: There is a phrase called destructive innovation, which may not be the same as doing well or innovating. Doing well means that you can learn from others, but the innovation may not be better than others. Wang Xing started Xiaonei, which also copied Facebook’s UI. His rivals’ own innovative UI makes the user experience particularly poor. So it’s important to do well.

Mars Finance Q17: Your big acquisition is unique in the blockchain industry. Is the acquisition funded by private capital or TRON?

Justin Sun: Peiwo APP itself is very profitable, which is different from other projects. e have been a very profitable company in the blockchain industry. Peiwo includes our acquisition of BitTorrent advertising business, which has done very well under our leadership. In fact, we do not think highly of profit, which does not mean our earning performance is poor.

Mars Finance Q18: How long will TRON last?

Justin Sun: Of course, we feel we will last at least 100 years.

Mars Finance Q19: BM didn’t come out to speak for EOS, the entire public chain of TRON is initially completed, and it will continue to flourish under the impetus of community developers, you probably don’t have much business. Would you choose another path?

Justin Sun: Currently, I probably won’t, promoting community autonomy is our long-term mission. TRON, including BitTorrent, has a lot of work to do in the whole blockchain industry. I like the idea of Zhang Yiming that when the track is big and long, it really needs to put in a great effort, rather than the rhythm of running for two days.

BM can’t compare with our entrepreneurs. I feel that BM does not run EOS like a running company, but more like an outsourced programmer. BM does not care whether the subsequent commercial operation of his project is successful, which I think is very clear in EOS.

Because I at Hupan University, and I learned from my role models: Ma Yun, Ma Huateng, Wang Xing and Zhang Yiming. I hope there is some technical highlight, but also my company and my business can become an entity of long-term sustainable growth, and therefore we’re looking at 10, 20, even 30 years of long-term track, and we are ready for a long-term battle.

With the development of the industry, the threshold of employees will gradually increase.

Mars Finance Q20: Does the post-90s generation feel any inadequacy to the company’s management?

Justin Sun: I used to, but now I don’t have any. I feel it is fine.

Mars Finance Q21: Some people say that blockchain is a victory for the grassroots. Many successful people in the circle are from the grassroots, whereas you come from a famous university. How do you think about it?

Justin Sun: Social competition is actually a very complex, omnidirectional and multi-dimensional competition, so entrepreneurs who graduate from famous schools don’t necessarily have it. The elite students really have no advantage in an innovative industry like blockchain. On the contrary, those who contact first will soon get started. For example, the success of Vitalik has a strong first-mover advantage, because it is the first to make virtual machines.

Now our employees are mostly very senior engineers from BAT, as well as Facebook, and we often review our work. If the engineering community evaluates how Ethereum did first, including how it does now, it is very bad. But today, so many of our company’s top engineers are chasing after Ethereum, a very important reason is that they did it early. Ethernet also needs to improve its engineering capabilities at all times, how can an enterprise like ours catch up with Ethereum? We catch up if it doesn’t have good engineering skills or if it doesn’t make up for it but we did, so we have the potential to catch up.

For Vitalik, the first-mover advantage is its core advantage. As the industry matures, this kind of occasional phenomenon will become less and less. Educational advantage, management experience advantage, systematic executive advantage, as well as organizational advantage are the main advantages. There will also be great changes in personnel upgrading, in the past, there may have few high-quality personnel in Alibaba 18 Arhats, the cultural quality of Ali employees later must be much stronger than that 18 Arhats.Jobs used to say that if I were to interview at Apple now, I wouldn’t be able to get in. As the industry matures, the threshold for employees gradually increases. Now our company is the same; if programmers are not from the top universities under the “985 Project”, it is almost impossible for them to get in.

Mars Finance Q22: The TVM virtual machine is officially launched, including the acquisition of BitTorrent.n fact, the ranking of TRON is quite high in each dimension on several major chains, the market value of TRON is now below top ten in the world.

Justin Sun: We think TRON is seriously underrated. If we talk about value regression, it should be ranked number six. TRON is the youngest member of the leading blockchain project other than EOS; we are indeed an up-and-coming star, hoping to bring different voices to the industry with fresh blood.

Mars Finance Q23: For an enterprise, the founder’s personal beliefs will gradually become the corporate culture. What do you believe in?

Justin Sun: I personally have always been a libertarian who believes in free market, community governance, and deregulation. In a way, I believe there is a connection between personal beliefs and industries.

Justin Sun: I personally have always been a libertarian who believes in free market, community governance, and deregulation. In a way, I believe there is a connection between personal beliefs and industries.

Justin Sun: I personally have always been a libertarian who believes in free market, community governance, and deregulation. In a way, I believe there is a connection between personal beliefs and industries.

Justin Sun: I personally have always been a libertarian who believes in free market, community governance, and deregulation. In a way, I believe there is a connection between personal beliefs and industries.

Justin Sun: I personally have always been a libertarian who believes in free market, community governance, and deregulation. In a way, I believe there is a connection between personal beliefs and industries.

Justin Sun: I personally have always been a libertarian who believes in free market, community governance, and deregulation. In a way, I believe there is a connection between personal beliefs and industries.