The Driving Force Behind Web3's Growth
Ryze Labs partner Haru Chen reflects on her early entry into Web3, the potential of emerging markets, and why the future lies in the convergence of Bitcoin and AI technologies.
Haru Chen, partner at Ryze Labs, has been an early participant in the Web3 space, making the transition from traditional finance to blockchain technology. In this interview with "The World of Web3" on Macau Lotus TV, she discusses her path into the industry, the potential of Bitcoin finance and AI, and shares practical advice for those entering Web3. She also reflects on the challenges of working in a male-dominated field and the opportunities she sees for innovation in emerging markets.
Read the full interview below for Haru’s insights on the current and future state of Web3.
Host Lisa: Ms. Chen, could you start by introducing yourself and telling us how you first got involved in Web3?
Ms. Chen: Thank you, Lisa, and thanks to everyone tuning in! I’m Haru, and I’ve been an entrepreneur since I was 24—16 years now. My journey started with a passion for financial innovation and a strong focus on the future. When blockchain technology emerged, it completely transformed my career. Transitioning from traditional finance to Web3 was a pivotal move, offering me a fresh perspective on finance and a deeper understanding of how technology can reshape the world's complexities and opportunities.
Host Lisa: What prompted you to start a business in Web3 so early on? What drew you to this field?
Ms. Chen: I was confident in blockchain's transformative potential, which drove me to enter the Web3 space early. In 2015, we founded Sino Global Capital with Matthew Graham as CEO. We recognized that blockchain would be the most disruptive technological breakthrough since the internet, with the ability to redefine finance, data management, and value exchange, all while creating significant shifts in the global economy.
We also saw vast potential in emerging markets like China, India, and Africa, where there’s a wealth of talent but often a shortage of funding and global perspectives. Our vision was to help foster these regions' tech and investment ecosystems through strategic investments, driving blockchain innovation and adoption.
On September 6, 2023, we rebranded Sino Global Capital as Ryze Labs to mark a new chapter. The rebranding is part of our mission to expand globally and provide deeper industry knowledge and technical support to our portfolio companies. We aim to continue catalyzing Web3 innovation in emerging markets.
Host Lisa: What new opportunities will the Web3 field present for newcomers and professionals in 2024? Could you share your insights?
Ms. Chen: In 2024, Web3’s opportunities will primarily arise from rapid advancements in technology and their applications. Layer 1 and Layer 2 technologies are maturing, providing developers with improved infrastructure, while innovations in zero-knowledge proofs and decentralized identity are pushing more secure, privacy-focused applications. The evolution of Web3 infrastructure is making the ecosystem increasingly robust.
Additionally, the convergence of Web3 and AI is expanding its scope, particularly in areas like data privacy, security, and predictive analytics. This synergy will create new opportunities for innovation, especially in the financial services sector.
Host Lisa: As a Web3 investor, what do you see as the key directions for the future of Web3?
Ms. Chen: The future of Web3 will likely focus on two key areas: Bitcoin Finance (BTCFi) and the integration of AI with Web3.
My investment strategy revolves around finding projects that solve existing problems while introducing significant technological breakthroughs. For example, I invested in Solana early in 2020, recognizing its potential to address Ethereum’s congestion issues. Solana’s innovations in consensus mechanisms and scalability validated my belief in backing transformative technologies.
Right now, I’m particularly optimistic about Bitcoin’s financial innovations. The stability and wide adoption of the Bitcoin network provide a solid foundation for new financial services. Layer 2 solutions, like the Lightning Network, have enhanced Bitcoin’s payment capabilities, and protocols like Ordinals have introduced new functionalities. I expect to see continued innovation in areas like Bitcoin lending, derivatives, and payment systems, which could reshape our understanding of financial services.
Similarly, the integration of AI and Web3 is incredibly promising. Both fields represent fundamental shifts in finance and technology, offering vast business opportunities and the potential to redefine industries.
Host Lisa: The Web3 industry is filled with both risks and opportunities. What advice would you offer to newcomers entering this field? How should they approach risk management?
Ms. Chen: Web3 is indeed an industry with great potential but also significant risks. Here’s my advice for newcomers:
Keep learning: Web3 evolves quickly, so it’s essential to stay curious and continually seek knowledge—not just about the technology, but also economics and game theory.
Engage with communities: Join Web3 communities, participate in discussions, and share your ideas. This not only helps you learn but also builds valuable networks.
Focus on long-term value: Don’t get caught up in short-term market fluctuations. Identify projects and directions you genuinely believe in.
Regarding risk management: do your due diligence—thoroughly understand a project’s technical foundation, the team's background, and its market positioning. Set a clear risk tolerance, and never invest more than you can afford to lose. Diversify your investments and avoid putting all your resources into one project. Always have an exit strategy in place. Remember, failure isn’t something to fear; it’s an opportunity to learn. The key is to manage risk wisely, not avoid it altogether.
Host Lisa: What unique advantages do women have in the Web3 space? Have you faced challenges in this male-dominated industry? Could you share your experiences?
Ms. Chen: That’s a great question, Lisa. Regardless of gender, I believe everyone has unique strengths they can bring to Web3. However, women often excel in areas like communication, collaboration, user experience, and risk management.
For example, women tend to have strong emotional intelligence and empathy, which are crucial in Web3, where community and consensus are key. We often have a better sense of community needs and are effective at resolving conflicts, which helps build more cohesive ecosystems.
We’re also more detail-oriented and focused on user experience, which complements the highly technical aspects of the industry. This leads to more human-centric designs and user interfaces, making projects more accessible and user-friendly.
Moreover, women often demonstrate heightened risk awareness and long-term thinking. In a fast-paced field like Web3, caution and foresight are invaluable. We tend to evaluate projects more holistically, considering sustainability and social impact, not just short-term profits.
I have faced challenges, such as being underestimated or overlooked in a male-dominated industry. But I firmly believe that professionalism and perseverance determine success. My strategy has been to stay committed to my principles, keep learning, remain open-minded, and embrace challenges. Diversity in teams brings innovative thinking and better solutions.
Host Lisa: Thank you very much for sharing, Ms. Chen! Your story illustrates that whether you are a woman or a Web3 entrepreneur, success requires full commitment. This field is diverse, vibrant, and filled with opportunities, and we hope more people will join this world of endless possibilities. To conclude, I’d like to quote something you once said: "If we are all just specks of dust in this vast world, then let us each shine our own light."