Hong Qi Yu, Founder of TOKENIZE Exchange, Shares a Reading List for Understanding Cryptocurrency
Qi Yu was previously a developer at Bambu, a fintech startup, and has four years of experience in trading in managing investment portfolio across FOREX, equities and digital currencies. It was during his years working as a trader that he saw the potential of cryptocurrency and blockchain technology. He realized that there’s a lack of a local exchange platform, despite the growing popularity, and he decided to build it.
Singapore is the world’s third largest Initial Coin Offering market (ICO – the cryptocurrency world’s equivalent of an IPO), after the US and Switzerland. However, it’s still considered relatively new to young people in Singapore (and not only), who doubt its’ durability and legitimacy due to the lack of understanding surrounding the subject.
Qi Yu’s mission is to help millenials, like himself, understand the cryptocurrency complexity and improve its accessibility for the masses.
From our interview you’ll learn more about the books he recommends to those who want to dig into the subject of blockchain and cryptocurrency, and other authors that influenced his journey./
What’s your favorite book and why?
The Principles, by Ray Dalio. This book talks about the basics of thought development when tackling certain problems/issues, which has helped me immensely through my journey in founding Tokenize Xchange.
Was there a moment, specifically, when something you read in a book helped you? Can you tell me about it?
Yes, Rich Dad Poor Dad book helped me open my mind about finance and got me interested in escaping from this rat race. I can still clearly recall this particular quote, “You’re only poor if you give up”, which since been a constant source of motivation for me.
What books had the biggest impact on you?
Again, Rich Dad Poor Dad inspired me to focus, though specifically on these two areas, excelling in building businesses and also in investing into financial asset.
What five books would you recommend to youngsters interested in your professional path? Why? (no number limit here)
- “Blockchain Revolution”. The authors, blockchain experts Don Tapscott and Alex Tapscott give a rather vivid explanation of blockchain technology, along with the promise and potential behind this emerging technology.
- “The Internet of Money”. This book gives you all the motivation you need to bravely venture out and dive into the cryptocurrency world, which is quite interesting if that’s what you’re looking for. I would say it serves as the slight push some might need.
- “Digital Gold”. Digital gold presents the most extensive history of bitcoin thus far, making it an invaluable page-turner for crypto aficionados and newbies alike. This is a must read for anyone interested in understanding what many consider to be the greatest invention since the internet.
- “Bitcoin and Cryptocurrencies Technologies” and “Mastering Bitcoin” provide a comprehensive yet not too intimidating introduction to the revolutionary yet often misunderstood concept of digital currency.
I’m interested in finding out more about your reading habits. How often do you read? In what format?
I read when I am travelling in any form of transport. I will try to complete a book within 100 hours at most via e-book.
Do you take notes or have any other technique for conquering the torrent of information?
Nope. I general read by heart, you could say it’s a more casual experience.
How do you choose what books to read next?
I will try to Google the book summary and if it interests me I will read it.
What book are you currently reading and what are you expecting to gain from it?
Bitcoin and Cryptocurrencies Technologies. Would like to explore in depth on the technology.
We’re drowning in a sea of contradictory views regarding cryptocurrency. What are the biggest aspects that people can’t seem to understand on this topic?
People are still unable to understand the underlying technology and not without reason. It is extremely hard to explain cryptocurrency and blockchain quickly as one would need quite a bit of foundational knowledge beforehand.
Do you have an example of a mistake you made while building your business? Are you willing to share how you changed your mind and what you learned from the process?
I am very blessed so far. Being supported by early investors and good partners. The only unfortunate thing is the person who gave me the idea was unable to walk out of his comfort zone. My early teammates all chose other priorities over this venture, so I had to take this entrepreneurial journey alone until I found my first group of employees who eventually become the best partners I could ask for.
I think the wish to serve the ecosystem as I reaped an average of five times the returns from investing cryptocurrency made my life happier. Furthermore, constantly diving into the challenge of educating the public on cryptocurrency and blockchain excites me each morning. I meet with a lot of new people every day and my life can’t be more interesting than that. Blockchain and cryptocurrency has bridged people together.
Links where you can follow Hong Qi Yu or find out more about his projects:
All books mentioned by Hong Qi Yu in this interview:
- Principles: Life and Work, by Ray Dalio
- Rich Dad Poor Dad, by Robert Kiyosaki
- Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World, by Don Tapscott, Alex Tapscott
- The Internet of Money, by Andreas M. Antonopoulos
- Digital Gold: The Untold Story of Bitcoin, by Nathaniel Popper
- Bitcoin and Cryptocurrency Technologies: A Comprehensive Introduction, by Arvind Narayanan, Joseph Bonneau, Edward Felten, Andrew Miller, Steven Goldfeder
- Mastering Bitcoin: Programming the Open Blockchain, by Andreas M. Antonopoulos