Interview with Wang Xin: Kuaibo is the past, and the combination of AI Agent and token is the future

Author: Zhou Zhou, Foresight News

In 2018, Wang Xin was released from prison.

People thought he would choose to retreat and stay away from the hustle and bustle, but he did not. The wave of the times is rolling forward, constantly pushing this early Internet entrepreneur toward Web3 entrepreneurship.

In early 2019, Wang Xin launched the anonymous social app "Toilet MT". The slogan of Toilet MT is "Social with blockchain thinking", and emphasized decentralized content distribution, but this product was quickly banned by Internet centralized products such as WeChat. In 2020, Wang Xin launched the AI ​​flexible employment product Lingge, but was once again banned.

"I still don't know the real reason for being banned," said Wang Xin. "It's not just our family, but also Luo Yonghao's bullets and bytes' Duoyun. These three products were all sealed by WeChat," Wang Xin added.

From "Quick Broadcast" to "Toilet MT" and then to "Ling Ge", the products that Wang Xin wants to explore seem to have been stopped by centralized institutions. This led to the idea of ​​making a product that cannot be stopped, just like no one can block Bitcoin.

Wang Xin admitted that he has all in Web3, and this time he is going to make a product that combines AI and Crypto.

Wang Xin put forward a point of view: the end of personal IP is not traffic monetization, but personal IPO. He said: Whether it is live broadcast, short video or selling goods, there are many ways and methods of monetization, but none of them are the end. He believes that the real ending is to let securitization and assetization come to the end, whether it is to let a person or a company, it will eventually be "listed".

One day in 2024, he typing down a new project name on his computer. Wang Xin said that this brand new Web3 product will be officially launched in mid-2025.

First know BTC

Joe Zhou: When did you pay attention to BTC?

Wang Xin : Around 2011, the code of Bitcoin was on Sourceforge, and I checked it.

Joe Zhou: How do you feel after watching it?

Wang Xin : At that time, I thought its algorithm and power consumption POW mode were quite nonsense. Of course, today I seem to be naive and naive. (laugh)

Joe Zhou: At that time, you tried to make traffic ore (a product launched by Kuaibo that year, using idle bandwidth to provide acceleration services for people who watch videos and earn virtual assets by themselves). At that time, did you think about developing Bitcoin-related businesses?

Wang Xin : If we had a high understanding at that time, the flow ore would be directly tied to BTC. At that time, mining could be mined by computers. But because it consumes too much power, we don’t think it’s practical. The flow ore project is located today, which is DePIN. But there was no position at that time. I think it would have been better if there were more valuable solutions at the time, such as POS today or other solutions.

Joe Zhou: So the project did not continue later.

Wang Xin : It happened soon after it was made, but I couldn't control it anymore. If nothing happened, we might have studied it a little deeper. At that time, we did the entire client mining mechanism, and also built a single currency exchange, and also made leveraged contracts in this exchange.

Joe Zhou: You used to do Kuaibo, but now you start a business in Crypto. What do you think are the similarities in technology?

Wang Xin : There are many similarities and even similarities. I have always recognized the decentralized approach in my bones, and this was the case when I was doing Kuaishou. At that time, we called equal computing. In this process, the final result is not very good. There are some ideas in Crypto, such as consensus and nodes, and Kuaibo also had nodes at that time. The distributed ledger technology we use now is actually P2P technology.

Joe Zhou: CZ recently shared some feelings about life in prison. You have been banned from 2014 to 2018 because of Kuaibo. You have lived in prison for three and a half years. Can you share your thoughts on life in prison?

Wang Xin : It’s been quite long, unlike CZ. CZ just experienced it and felt it deeply, and I have forgotten it. (laugh)

Actually, there is no question about life. We follow the process every day. We are in a very limited space. When we read novels and films, there is nothing new. I think the best way to be there is to not be something new and not to be excited about. If you think it is very intense and there are many things that are fresh in memory, then you will definitely be unforgettable. At that time, I developed some good habits, go to bed early and get up early, read more, and talk less.

Joe Zhou: Can you contact the outside world? Or accept some cutting-edge information.

Wang Xin : No, but you can write a letter.

Joe Zhou: Rumors are all that you asked your wife to buy thousands of BTC before you went to jail. Is this true?

Wang Xin : This matter is not important, it is not the core driving force for me to do things. I bought some, very few, and I don’t have that high cognition. If I have such a high cognition, I will all in.

Go to sea to explore

Joe Zhou: How do you summarize your entrepreneurial experience in the past five or six years?

Wang Xin : My business can be roughly divided into three stages: Kuaibo, social products, and going overseas. Social products have made me understand human nature better; AI products, especially the spiritual pigeon we made, have made me better understand the importance of individual efficiency in the future. I began to realize that collaboration between people can be reconstructed and human skills can be digitalized.

In essence, we start a business in this direction, so that everyone can have a digital self and help themselves make money and work. We had this idea at that time, but the technical environment did not support it, and many ideas could not be realized. Second, domestic supervision of social products is quite high.

Joe Zhou: I heard that the social products you made were also sealed by WeChat at that time?

Wang Xin : Yes (laughs). At that time, all the social products we launched were basically blocked, such as toilets and spirit pigeons.

Joe Zhou: Why was it blocked?

Wang Xin : I don’t know. So far I can't understand. Now, if you want to build a centralized platform, it will definitely have the right. If you have the ability, don’t use my platform or go to other platforms.

Joe Zhou: You still don’t know the reason for being blocked at that time?

Wang Xin : It’s WeChat’s own decision. Not only our family, but also Luo Yonghao's bullets and bytes' multi-flash. These three products were all sealed by WeChat.

Joe Zhou: After you were released from prison, the Crypto industry also experienced at least three major stages, such as the ICO bull market in 2018, the NFT bull market in 22 years, and now memecoin and AI Agent. From the perspective of bystanders, how do you view the changes in the Crypto industry during these periods?

Wang Xin : When I first came out, ICO was very enthusiastic. At that time, all the big guys in the crypto industry went to my office to sit, and some even came more than once. I was quite scared at the time. (laugh)

I was too fanatical at that time and couldn't understand this economic model: first go public to raise funds, use concept funds and then do things. But I am more accepting of the traditional way of entrepreneurship: do things first, ensure that there are users and income before going public. When NFT appeared, I didn’t pay much attention to it, and I felt that I was speculating on concepts more. Only then did I start to pay more attention to the metaverse.

Now the AI ​​Agent combined with token model is worth exploring in depth, because this is no longer an asset speculation, and AI has become a productivity revolution. I think this is our core gameplay for one or two stages in the future, and it is also my main entrepreneurial and investment direction.

Joe Zhou: During the ICO period, you had more communication with the cryptocurrency giants at that time?

Wang Xin : At that time, we thought they were evangelists. So far, Crypto is still a niche market, with no more than 100 million people around the world, and more people on Web2. It was smaller at the time, but I think they were very awesome. In such a complex environment, they can persevere, and I feel inferior to them. I'm not as bold as them.

Joe Zhou: You chose Crypto to start your business in 25 years. Why did you have such an idea at that time? How do your relatives and friends around you think you entered this industry?

Wang Xin : After the epidemic, I converted my domestic business into TOB business, mainly engaged in human resources and flexible employment. I personally don’t like TO B business very much, and my ability and willingness are not on this matter. At that time, we were considering going overseas during the epidemic and going overseas at the human resources level. The result was not successful either. It is very difficult for people to change the product to the English version in China and then push it out.

Later I gave myself two goals. First, you must go out and not stay in the country. The essence of going out is to go out. If you don't go out, it will be difficult to understand the world whether it is your opinion, your way of thinking or your resources. Second, I still insist on technological innovation and rely on technological breakthroughs rather than model innovation.

When I was doing flexible employment, I could try some model innovations, and at that stage I basically didn’t care about technology. But at this stage, I later confirmed this point, because there is no technological innovation and core competitiveness, the business threshold is very low. Flexible employment means helping people recruit individuals and issue invoices. Any technical content you want to express is unnecessary. What you are most valuable is having a license, and people don't care about other aspects.

Later I discovered that new entrepreneurship must put technology in essence, namely technological innovation and core technological strength. The latest core technology forces in the world today have been seen during the epidemic. They are divided into two parts: AI and Web3, which is the most representative of the latest technology. Therefore, you must think about how these technologies can solve the current pain points in order to make these decisions.

Joe Zhou: How do your relatives and friends around you see your entrepreneurial direction shifting from the Internet to Crypto?

Wang Xin: As long as I do things, my family will fully support me, and I like to innovate and study new things, so everyone understands my personality very well. Our family also has an innovative tradition, such as children will use crypto wallets and perform on-chain operations, and sisters will exchange half of their private keys with sisters.

Most of my friends are Web2 friends who are engaged in traditional industries. They are still very vigilant about this industry. They believe that there are many scams caused by historical reasons, so I remind me to pay attention. Second, they didn't see anything that could be implemented in detail before I described what I was going to do. In addition to infrastructure, public chain or finance-related DeFi, they have seen few other application-level things and have not imagined how to do it. However, Trump's attention increased a lot after issuing coins, especially those who are paying attention to overseas travel.

Joe Zhou: What about investors?

Wang Xin: Supported by investors, generally forward-looking. Our original investors IDG and BAI Capital, knew that I entered Crypto to start a business and connected with a lot of resources.

Joe Zhou: You mentioned just now that the children at home are also playing on-chain operations. How old are they? How much Crypto products have been used?

Wang Xin: They can use encrypted wallets. The eldest brother was in high school and used Phantom and OKX Wallet; the second brother was in the sixth grade of elementary school and used Binance and Trust. They each use their own.

Some time ago, I bought some memecoin, such as fair3, because it was my own CTO (Community takeover) coins, and they also bought them. I let them decide when to buy and sell, and I let them follow Twitter and community activities. Their understanding may not be as deep as we can, but they just think it is fun. I told them that if they can make a profit, they will have pocket money, so they will have motivation.

Joe Zhou: How many on-chain assets do you give them to try?

Wang Xin: Let them try it for 1,000 yuan. In the next stage, they will open some U cards and other products for them to experience how to turn assets into U, and then turn U into assets for consumption.

Joe Zhou: Are you and your family also using U cards?

Wang Xin: We haven’t started yet, we have a U card part in our business. When our own U card business begins, it will be used by them.

Joe Zhou: Are there many peers around them playing Crypto?

Wang Xin: Their classmates or junior high school students, who have a lot of friends, have started to contact stocks and invest in Crypto. A relatively large number of children in Singapore’s education system are exposed to crypto, and they have been exposed to IB system since childhood. The IB system's education system is different from China. It is not a textbook system and does not have textbooks, but a themed research topic.

In the graduation exam for the first half of the fifth grade, our second girl was AI. The final graduation exam is an exhibition through which we can observe their understanding of AI. They will know which are pure AI and which products with AI capabilities. Although it is not necessarily accurate, I think it is very interesting. They will explain the benefits of AI to them and will have a speech process.

Joe Zhou: Are there relatively fewer discussions on Crypto?

Wang Xin: A teacher’s ability is very important. Whatever the teacher pays attention to will teach. If a teacher pays attention to Crypto, the students' topics will be included. I have a friend's child who started trading stocks and coins in junior high school in the United States. He is very professional and has made money.

He will take out a report to decide what coins and stocks to buy, and 4 people form a group to write an investment report and PPT, and will write a stop loss point and when to buy and sell, which is much better than ordinary people. Teachers will provide many topics similar to those of universities, and they have been studying topics since elementary school. This education system is completely different.

Joe Zhou: This can reflect Crypto 's social acceptance and future development. If children don’t pay attention, then the industry may not have particularly big development in the future.

Wang Xin: Only after coming out can you feel that this change is very big, not just children. There are also groups like Filipino maids.

When I lived in Singapore, I found that Filipino maids in Singapore, Vietnamese aunts or Myanmar aunts do not need to send the money back through the original method of remittance, but instead they all exchanged the money for U, and then transferred the money back, and relatives and friends used U for local fiat currency. The remittance took a long time before, but it was directly received with U. The handling fee was still low and the exchange rate was saved.

Deep into the blue ocean

Joe Zhou: Which track in the Crypto industry did you choose as the entry point during this entrepreneurial process? What is the reason?

Wang Xin: The core point is still AI+Web3. AI is a productivity tool that can continue to operate, make money, and grow on behalf of people. Our personal assets, data and skills can all be settled, so I think this is a very important aspect. The essence of Web3 is asset issuance and asset transfer, which is the most core part. Combining with individuals indicates that everyone can achieve their own assetization in the future.

I wrote an article before, talking about "the end of a personal IPO", which is actually securitizing myself. At present, there is no threshold for issuing coins. It is easy to issue coins and is difficult to operate. We do not need to write code, we just need to change the framework to issue coins. However, the problem you face is how to realize the authenticity of the currency and how to become a valuable currency, which requires thinking.

I think it is difficult for ordinary people to solve this problem. They need a platform. Just like TikTok back then, ordinary people need to rely on a platform to become an internet celebrity. Ordinary people need to achieve their own assetization and securitization, and they also need a platform. This platform provides some basic technical support. Because a person's abilities are limited, he must train his own AI as a listed company. If from this perspective, people will get sick or even die, your coins will be worthless, and your AI Agent will be immortal.

How to securitize assets must be through Web3, which involves wallets, DEXs, etc. Whether to use a reasonable organizational method to help Web2 users, rather than Web3 users, to facilitate use. Web3 involves many technical concepts and products. Although it is easier for us to use, many ordinary users are still very complicated to use. For example, I communicated with my family many times, and it took me a long time to understand it when I communicated face to face. But it is very difficult to completely lose a product for ordinary users to use. At this time, the industry needs to have transitional products.

This is an aspect that this industry needs most, namely how to get more Web2 users into Web3. Another point is very important, why they want to enter Web3. If you just say that the content on Web3 is very fair and can protect privacy, then there is no need, and what people need most is to make money. The money making here is not about making money by speculating in coins, but about participating in creating and making money to the best of my ability. Just like whether it is TIKTOK or other social media tools, they are creating wealth stories. Li Ziqi makes money, and others think she can try it, which leads to more people joining. Only after entering can they learn and understand slowly. In addition to making money, they can also gain more benefits such as learning and communication from it. I think this is different. If only the advanced nature of technology is emphasized, then this is not enough.

Joe Zhou: I just mentioned two points: one is how Web3 products become easier to use, and the other is why Web2 users want to enter Web3. Regarding becoming easier to use, what are you going to make the product look like?

Wang Xin: There are more than one thing that changes, most of which are the integration and innovation of various technologies, such as wallet, social, AI Agent, etc.

Regarding wallets, we probably start with the easiest login. At present, the more suitable way to log in is a multi-chain hosting wallet. The account is relatively simple. You can log in with your ID, Twitter or Google ID. For wallets, they are stored in MPC fragments, and users only need an account password. We tell you to add some change to participate.

In terms of social interaction, we understand that the latest model is currently developing towards decentralized social interaction. I think decentralized social interaction is the most effective way, or is recognized as a federal decentralized social interaction. Although it seems more complicated from the technical bottom layer, it cannot be so complicated to implement, and it still needs to be convenient for users to use. Because all platform products have their own social docks, the way to choose docks also needs to be changed through technology.

Including some usage habits, for example, in Web3, we found that we always jump on some products, jump from here to there, and even various authorizations. If handled improperly, the money will be gone, and if there is any problem with an authorization, the money will definitely be gone. This must be unified, such as the built-in mini APP ecosystem, which must be unified.

Also, how do you make the AI ​​Agent work? To make it simple, you cannot set it up in complexity, it should be operated according to his social media. For example, if I use Twitter, you can log in to your Twitter account directly, and that's it. Most Web2 users are impatient. The time they give you is very short, and a minute is just to save face. Diandiandian, if they get stuck in the next step, they won’t be able to use it.

Joe Zhou: This seems to be different from most Crypto products now. Most Crypto products now still have to have a decentralized wallet.

Wang Xin: This is not a new technology. The key lies in how to integrate it and how to allow users to transition. The best way to transition is to first go to the centralized wallet hosted by multi-chain, and then go to the decentralized wallet. This is a transitional process. If you have a big asset, you can put it in a decentralized wallet. If you just give you some red envelopes or small money, then the experience of a centralized wallet will be better, and only if he thinks that there is an idea of ​​assets will he think about this matter, otherwise he will not think about this matter.

Joe Zhou: Why do you think these new Web2 users choose to join?

Wang Xin: Users will not enter because of a certain technology. What pain points have you solved? Let me talk about a simple product principle. Real innovation is something that can’t be bought with money now. Why should I come here? Because I can't buy it for money, I have to come.

For example, before purchasing an Apple phone, no one bought a smartphone, and it will only attract everyone's attention after the Apple phone is launched. Today we want to achieve personal IPO, that's it. I want to make more money by assetization, but I can't achieve it. Then I make it and people will come. There must be pain points or people’s inner needs. Only when you can’t buy them with money at this stage can product innovation be valuable.

Joe Zhou: Xiaohongshu and Douyin can also monetize through their own traffic. Will there be any differences or similarities between personal IPOs and these monetization methods?

Wang Xin: There are two parts here. We call the first part the end. Whether it is live broadcast, short video or sales, I think monetization is not the end, it is just a process. At least there are many ways and methods for monetization at present. I don't think this is the ending way, this is the first point.

The real ending is to let securitization and assetization come to an end. Whether you are a person or a company, you will eventually become a listed company. The process of continuing to become a listed company is not the final result. I think this is the pursuit of the end.

The second point is the essence of Web3 decentralization, that is, what belongs to you? TikTok will be blocked, and on Twitter, users will often be blocked, and these accounts do not really belong to users. This is also the reason why users will come if they have a choice.

Centralized products can cause a lot of injustice. When you feel the injustice, you will look for a bunch of people who suffer the injustice to organize to fight against injustice. For example, the reason why many overseas e-commerce companies still find it difficult to make profits is that most of the funds are used to purchase advertising on centralized platforms. Currently, the advertising expenditure of e-commerce is mainly concentrated in the reports. Google advertising expenditure accounts for 30% of the overall cost, and at least 30% of the total cost can be made, and some accounts for 50%. What is the proportion of the game? 60%, 70%. The words about short stories are even more excessive, 90%. That is, if you make 100 yuan, 90 yuan is used to purchase traffic, how much more money do you think he can make?

I think there are too many unfairnesses in it. Since this is unfair, we should have opportunities, which is exactly related to my future entrepreneurial direction.

Joe Zhou: What is the composition and division of labor of your current team?

Wang Xin: We have a team of three parts. First we have a technical and product team, including experts in AI, our CTO has 7 years of experience in Crypto, and without him, I wouldn’t dare to do wallets and hosting.

Secondly, we have specially established a fund Goldwill Capital. This fund will also have some innovations. It will not be a VC fund like traditional Web3 funds. Our fund is a KOL fund. On the one hand, it invests in our platform and on the other hand, it invests in our ecosystem.

The third aspect is the community-managed team (Fair3 community), because we need to face global groups. Coin involves many community management and market value management related, and our current practice is also very effective.

Community, funds, and technology are actually a practical process, and our team will implement it one by one. No one saw the product, but everyone saw the community first, and our community is in good condition. This is also my personal habit of starting a business. I don’t like to work behind closed doors, and I prefer real contact. I highly advocate the minimal way to start, that is, the MVP method. The smallest MVP approach is that products, operations and funds can operate separately while they can land. Only after the system is formed will it become the optimal organizational method.

Joe Zhou: Is it all in this time to start a business in Web3?

Wang Xin: I am all in. I paid all the money in the early stage and didn’t find an investor. We have been developing for over a year. In the late stage of the epidemic, when I was thinking about going to sea, I figured it out. First, I need to do TO C and second, I need to go to sea. When going overseas, I have to use advanced technologies, namely AI Agent and Web3.