DePIN Past: Wang Yiming, JDI and Helium

Source: Zuoye Waibo Mountain

After the mining ban on September 4, 2021, the Chinese basically lost their interest in Bitcoin Pricing power, on September 15, 2022, Ethereum completed "The Merge" process. Except for Bitcoin, the mainstream currencies in the crypto world no longer have a PoW mechanism. The pledge network composed of major overseas exchanges and Lido controls ETH output.

The Chinese are basically excluded from the two largest currencies in the crypto world. In addition to exchanges and going overseas, how the Chinese can survive in the crypto world has become a problem for the entire industry. Obviously there are global The largest and most active terminal market is now being handed over to others.

In this historical process, Chengdu and Shenzhen are the two most injured nodes. They are not Wenzhou, nor Shanghai, nor Beijing, because the previous model was to ship goods from Shenzhen and put them on the shelves in Chengdu. Excavation, the cycle repeats.

Now we have to go back to before liberation overnight, but after all, there is still a way out.

Now it seems that history may have defined the way out for this period as DePIN, but the person who can become the representative figure is Wang Yiming, who has been unknown for a long time.

The past in Chengdu is comparable to that in Shenzhen Crypto Holy Land

If you have been to Chengdu, then the high prices and low income here will definitely open your eyes. The encryption industry is already one of the few high-income industries in Chengdu, and mining, or More specifically, the Chengdu group of Bitcoin miners once controlled the vast majority of Bitcoin production in the world.

The abundant various types of small hydropower and relatively loose regulatory policies have created the most glorious generation in the history of Bitcoin.

I lived like this for more than ten years until the building collapsed.

The 9·4 ban not only fundamentally changed the balance of power between the East and the West in the encryption world, but also created a "departure from reality to virtuality" in the encryption field. PoS's Ethereum was reduced to a pure capital game. Looking back In the past, the fork of Ethereum proved to be a farce, and PoW was left with only Bitcoin and a number of unpopular small currencies struggling to persist.

DePIN, or Helium, which insisted on the WIFI route in 2021, only became popular briefly, and then plummeted, but there are two things that have not received enough attention:

1. Why can Helium persist until now in 2021?

2. What does this have to do with Chengdu?

To get back to these two things, we must first introduce Wang Yiming and his many totems: JDI Labs, Bobber, Helium, DIMO, etc., to exaggerate, Wang Yiming Created or participated in the current DePIN ecosystem you see.

The above two questions can now be answered:

1. Helium’s biggest mining machine supply convenience in 2021 is Bobber , and the person who made the decision to fully support Helium was Wang Yiming. This hidden boss only started running his own Twitter (X platform) six years after joining the industry. Before that, most people were only used to the names of CZ and Sun Yuchen. ;

2. It doesn’t matter what suffix is ​​added to JDI Labs (Global) owned by Wang Yiming. It is also the most active investment and manufacturing company in the DePIN field and is responsible for supplying Huaqiangbei’s products to the world. .

Shenzhen ships, Chengdu mines, no matter what is mined, it is mined, so Chengdu miners say, so Chengdu can compete with Shenzhen, Wang Yiming completed his real industry show , deeply cultivate DePIN until the building is completed.

DePIN past events: Wang Yiming, JDI and Helium

Wang Yiming is too low-key. If it were not for the introduction by Twitter V Mark (@shuaibaobaommd), most people might still know nothing about him. But his true identity is the man behind Global DePIN.

Everyone can be famous Five minutes, but Wang Yiming’s popularity has been overshadowed by Helium for a long time. Secondly, JDI has invested in almost all DePIN projects. If you are confused about this, then you should only follow their portfolio. If you are a miner, then Bobber cannot be bypassed. Pass.

First let’s give an introduction. Wang Yiming, male, is an alumnus of OKX founder Xu Mingxing. He first entered the industry from Dujun Node Capital and started to come into contact with the DePIN concept around 21 years ago. Helium is its first global In addition to the large-scale projects it operates, there are also hardware such as DIMO, VPP (Virtual Power Plant) and satellites. The fields involved are all DePIN. In other words, if the Chinese dominate the exchange field, then Wang Yiming is the Chinese in the field. The most typical representative in the field of DePIN.

Unfortunately, this article is not a soft article, nor is it a ploy, but a story about how the elephant in the room hides itself?.

JDI and Bobber have basically laid out DePIN’s investment direction and hardware targets. It is most effective to look at the development direction of DePIN and the dynamics of these two companies.

In addition, Wang Yiming personally prefers media and exchanges. Businesses in the crypto world are essentially traffic-first. Only by attracting spectators can wealth opportunities be captured, and he is very fond of exchanges. The preference stems from the passion for trading. Wang Yiming also believed in the wave that took Hong Kong by storm.

When the concept in Hong Kong was at its peak at the beginning of this year, Wang Yiming, who has been behind the scenes for a long time, also previewed the importance of Helium and DIMO through the POW'ER conference of Mars Finance. I don’t know how many people were lucky enough to capture these two password.

You must stud in your limited life< /h2>

Wang Yiming’s style is All in, whether it is DePIN or any direction, investment is the same, and hardware is the same.

For a long time, DePIN has been regarded as the exclusive preserve of American capital and institutions. In particular, Helium will conduct serious reviews of mainland nodes. Based on this, Wang Yiming and his affiliated institutions are also rapidly globalizing. This year In March, JDI completed a new round of financing, with support from top investors including Dragonfly and FutureMoney, but this is not the whole story.

After Helium Mobile experienced initial subsidies, its revenue will inevitably decline rapidly in the later period. In fact, I really hope that Wang Yiming can stay active on Twitter, and we can also see what new things DePIN can create.

As the man behind HNT hardware, winning is our credo.