China’s Bitcoin Ambassador: Lin Zheming

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By Alex Speirs Published: August 17, 2020
Lin Zheming

A serial entrepreneur leading a litany of projects across the Bitcoin SV ecosystem, Lin Zheming is living proof of the value of diversified interests – and ambition. To go along with his business ventures, Lin serves as a Bitcoin Association Ambassador to China, a role that sees him leading Bitcoin SV growth initiatives in a country embracing the Satoshi Vision for Bitcoin.

‘I am very interested in economics and understanding how the financial system operates. I became interested in Bitcoin in 2011 after I read some articles that described the idea of virtual currencies and how the average person could use their computer to mine and make money from it,’ explains Lin.

‘I’ve been exploring mining operations in China since 2014, but what really holds my attention is the idea that Bitcoin can be used as a tool to transform the economy of the world.’

In 2016, Lin founded Fuzhou Boquan to pursue a number of technology-related ventures, out of which emerged his mining venture, – one of China’s most prominent transaction processing pools.

But Lin had a larger vision for Bitcoin.

And to that end, over the years, Lin and his company undertook a range of exploratory actions into various Bitcoin-related ventures. Initially, he looked at opportunities around the Lightning network – a concept that after due diligence he calls ‘deeply flawed’ – as well as implementations using Bitcoin Cash, before eventually settling on Bitcoin SV.

‘What we really need is to have utility as a basic function – the basic level of Bitcoin. With utility, we have a way to measure the value of a coin. Then we can use the coin as a medium of exchange to transfer value between two parties,’ explains Lin.

‘This is what makes Bitcoin SV different from any of the other coins with liquidity trading on exchanges – it is the utility of the coin. There is a lot of opportunity for Bitcoin to work as a medium to transfer value between parties, but first, we need to create solid demand and a solid market for the utility token.’

By having no limit on the blocks able to be produced for its blockchain, Bitcoin SV is the only platform that scales infinitely to facilitate enterprise-grade application use – a factor which Lin and his business are backing as a key point of differentiation in the years to come.

In an effort to drive the utility that he sees as essential to making the Bitcoin SV ecosystem thrive, Lin created DotWallet – a BSV-only wallet that holds the largest userbase of any Bitcoin SV wallet.

‘DotWallet is an on-chain, non-custodial wallet,’ explains Lin.

‘When you use DotWallet, it begins within a web wallet that operates within WeChat, which solves a big problem and enables our users to send Bitcoin SV to people who don’t yet have a wallet. They are then able to use our voucher system to create a wallet on the fly and hold their Bitcoin SV.’

By integrating with WeChat, DotWallet makes accessing and acquiring Bitcoin SV a simple and streamlined process, eliminating several of the barriers to people beginning their journey with Bitcoin – while also facilitating rapid growth through the social media giant.

‘When we started developing our wallet, there weren’t many out there because of the policy from the App Store and Google Play store, so this made it very hard for the average person to get on board with Bitcoin,’ says Lin.

‘We decided to make a web-based wallet, which was much easier for people to understand and begin using.’

In line with his aim to further the adoption and accessibility of Bitcoin, Lin serves as a Bitcoin Association Ambassador to his native China – a role which sees him working with businesses, developers, and end-users to promote understanding and uptake of the Bitcoin SV blockchain.

‘I enjoy the role as a Bitcoin Association Ambassador to China because it means that I get to talk to many different people about Bitcoin SV,’ says Lin.

‘There are so many technical and commercial opportunities that came with having a single ledger as an immutable global source of truth. We are leaders who can help to make changes to the economy and how we transact by using Bitcoin SV.’