The founder of Sora Ventures was recently interviewed by CoinDesk to share his reasons for setting up his crypto fund in Taiwan and his unique strategy of focusing on the Bitcoin ecosystem. Looking back at the history of Sora Ventures, we found that it was also an important key to inspiring SBF to build the FTX empire.
Taipei, the headquarters of emerging crypto funds
Hong Kong and Singapore have long been classic locations for crypto funds in Asia, but Jason Fang, partner and co-founder of Sora Ventures, chose to locate the company’s new office in Taipei.
In addition to operating funds in Taiwan, Sora Ventures is also hosting the upcoming Sora Summit during Taipei Blockchain Week (TBW) on December 16. Jason believes that the only crypto companies that really need to be located in Hong Kong and Singapore are exchanges because of the regulatory clarity issues involved.
However, the story is different for venture capital firms, where Taiwan's regulations and licensing requirements provide them with more freedom to work on the cutting edge of technology without the constraints of regulation.
(Enough of the media slander! Huang Licheng, the eldest brother of Maji, will attend Sora Summit 2023 and speak clearly in December)
The Sora Summit that inspired SBF to build an FTX empire
As early as 2018, Sora Ventures held the first Sora Summit in Macau. At that time, FTX founder Sam Bankman-Fried (SBF) also participated in the event. He was so impressed by Sora Summit that he canceled his flight back to the United States and chose to stay in Hong Kong to develop based in Asia and build Alameda Research, then FTX.
Jason Fang is still deeply impressed by this incident, and he also looks forward to the Sora Summit being held in Taiwan, which will lead to more vigorous development of the blockchain industry.
Exploring the future of decentralized science
Sora Ventures emphasized his belief in decentralized science (DeSci), an emerging field that aims to solve scientific problems through DAOs, such as developing drug development.
(What is decentralized science (DeSci)? Sora Ventures: Why DeSci will be the next big wave of Web3)
He believes that DeSci has the potential to reduce barriers to drug development and provide better compensation to scientists beyond just collectibles of NFTs (non-fungible tokens). Jason's vision is to revolutionize drug development over the next few years while providing increased incentives and support for scientists. Coinbase CEO Brian Armstrong also supports DeSci and will deliver a keynote speech at Sora Summit to promote the ResearchHub platform he co-founded, which rewards researchers for sharing their work and advancing science.
(Coinbase CEO Brian Armstrong comes to Taiwan for the first time to participate in Sora Summit 2023)
Sora Ventures focuses on Bitcoin and the vision of decentralization
Sora Ventures’ DeSci project is entirely based on the Bitcoin blockchain, which makes it unique in the field of decentralized science.
Jason is very concerned about the risks of centralization in the crypto industry, especially the negative impact of inhibiting innovation and the possibility of vulnerabilities in blockchain projects.
He pointed out that centralization risk is a hot topic because it can cause problems in the development of the underlying blockchain, and if one of them goes wrong, the entire blockchain can be affected. Sora Ventures’ strategy demonstrates their confidence in Bitcoin and exploring a broader future in decentralized science.
(Sora Summit 2023｜Asia's only "Bitcoin Ecosystem" theme summit, TBW Taipei Blockchain Week tickets are on sale!)
This Article The Man Who Inspired SBF to Build FTX! What is the reason why the founder of Sora Ventures is based in Taipei and looking at the world? First appeared in Chain News ABMedia.
