Exclusive Interview with Wang Xin: KuaiBo is the Past, 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 noise, but he did not. The tide of the times surged forward, continuously pushing this early internet entrepreneur towards Web3 entrepreneurship.

In early 2019, Wang Xin launched the anonymous social app "Toilet MT," which had the slogan "Socializing with Blockchain Thinking" and emphasized decentralized content distribution. However, this product was quickly banned by centralized internet products like WeChat. In 2020, Wang Xin launched the AI flexible employment product Lingge, but once again faced a ban.

"I still don't know the real reason for the ban," Wang Xin said. "It's not just us; there are also Luo Yonghao's Bullet and Byte's Duoshan. These three products were all banned by WeChat," Wang Xin added.

From "Qvod" to "Toilet MT" to "Lingge," the products Wang Xin wanted to explore seemed to be continuously halted by centralized institutions. This led him to conceive the idea of creating a product that could not be stopped, just like no one can shut down Bitcoin.

Wang Xin admitted that he is all in on Web3, and this time he wants to create a product that combines AI and Crypto.

Wang Xin proposed a viewpoint: the ultimate goal of personal IP is not traffic monetization, but personal IPO. He said: whether it's live streaming, short videos, or selling goods, there are many ways and methods to monetize, but none of them are the ultimate goal. He believes the real endgame is to bring securitization and assetization to fruition, allowing either an individual or a company to eventually "go public."

One day in 2024, he typed a new project name on his computer. Wang Xin said this brand new Web3 product will officially launch in mid-2025.

First Encounter with BTC

Joe Zhou: When did you start paying attention to BTC?

Wang Xin: Around 2011, when Bitcoin's code was on Sourceforge, I took a look.

Joe Zhou: What was your impression after reading it?

Wang Xin: At that time, I thought its algorithm and the power-consuming POW model were quite ridiculous. Of course, looking back today, my thoughts were the naive ones. (laughs)

Joe Zhou: At that time, you tried to create a traffic mining product (a product launched by Qvod that used idle bandwidth to provide acceleration services for video viewers, earning virtual assets for itself). Did you consider developing Bitcoin-related businesses?

Wang Xin: If we had a higher understanding back then, traffic mining would have been directly bundled with BTC. Back then, mining could be done with a computer. But because it consumed too much electricity, we thought it was impractical. The traffic mining project today has a positioning, which is DePIN. But back then, it didn't have a positioning. I believe if there had been a more valuable solution at that time, like today's POS or other solutions, it might have been better.

Joe Zhou: So the project didn't continue later.

Wang Xin: After we just got it out, Qvod had issues, and I couldn't manage it anymore. If it hadn't happened, we might have researched it more deeply. At that time, we developed the entire client-side mining mechanism and even created a single-currency exchange where we also made leveraged contracts.

Joe Zhou: You previously worked on Qvod, and now you're starting a Crypto business. What similarities do you see in terms of technology?

Wang Xin: There are many similarities, even identical aspects. I have always recognized decentralized methods at my core, just like when I was working on Qvod; we called it equal computing. In this process, we were fighting against centralized media, but of course, the final result wasn't very good. In Crypto, there are some concepts, like consensus and nodes, which we also had in Qvod. The distributed ledger technology we use now is essentially P2P technology.

Joe Zhou: CZ recently shared some thoughts about life in prison. You also spent three and a half years in prison from 2014 to 2018 due to Qvod. Can you share your reflections on life in prison?

Wang Xin: It was quite a long time. Unlike CZ, who has just experienced it and has deep feelings, I've already forgotten. (laughs)

In fact, it can't be called life. Every day followed a routine, everyone was in a very limited space, reading novels and watching films, nothing fresh. I think the best way to be there is not to have any novelty or exciting things. If you think there are many intense and memorable things, then you will definitely remember them deeply. I developed some good habits there, like going to bed early, waking up early, reading more, and talking less.

Joe Zhou: Could you contact the outside world? Or receive some cutting-edge information?

Wang Xin: No, but you could write letters.

Joe Zhou: There are rumors that before you went to prison, you had your wife buy several thousand BTC. Is that true?

Wang Xin: This matter is not important; it's not the core driving force behind what I do. I bought some, very few, and I didn't have that high of an understanding. If I had such a high understanding, I would have gone all in.

Exploring Overseas

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

Wang Xin: I can roughly divide my entrepreneurship into three stages: Qvod, social products, and going overseas. Social products made me understand human nature better; AI products, especially Lingge, made me realize the importance of individual efficiency in the future. I began to realize that collaboration between people can be restructured, and human skills can be digitized.

Essentially, we are starting businesses in this direction, allowing everyone to have a digital version of themselves to help them earn money and work. At that time, we had this idea, but the technological environment did not support it, and many ideas could not be realized. Secondly, the regulatory requirements for social products in China are quite high.

Joe Zhou: I heard that the social products you developed were also banned by WeChat?

Wang Xin: Yes. (laughs) Almost all the social products we launched were banned, like Toilet MT and Lingge.

Joe Zhou: Why were they banned?

Wang Xin: I don't know. I still can't understand it to this day. Looking back now, centralized platforms certainly have the right to do so. If you have the ability, then don't use my platform, or go to another platform.

Joe Zhou: You still don't know the reason for the ban?

Wang Xin: It's just WeChat's own decision. It's not just us; there are also Luo Yonghao's Bullet and Byte's Duoshan. These three products were all banned by WeChat.

Joe Zhou: After you were released, the Crypto industry experienced at least three major phases, such as the 2018 ICO bull market, the 2022 NFT bull market, and now memecoins and AI Agents. From an observer's perspective, how do you view the changes in the Crypto industry during these periods?

Wang Xin: When I first came out, it was a very crazy time for ICOs. Many big names in the crypto industry had visited my office, some even more than once. I was quite scared at that time. (laughs)

It was too crazy, and I couldn't understand the economic model: first go public to raise funds, then raise funds based on concepts and then do the work. I was more accepting of the traditional entrepreneurial approach: first do the work, ensure there are users and income, and then go public. When NFTs appeared, I didn't pay much attention; I thought it was more about speculating on concepts. It was only later that I began to pay more attention to the metaverse.

Now, the model of AI Agents combined with tokens is something I believe is worth exploring deeply because it is no longer a speculation on assets. AI has already become a productivity revolution. I believe this will be the core gameplay in the next stage or two, and it is also my main direction for entrepreneurship and investment.

Joe Zhou: During the ICO period, did you have more communication with the big names in the crypto circle?

Wang Xin: At that time, we thought they were evangelists. To this day, Crypto is still a niche market, with long-term adherents globally not exceeding 100 million people, while more people are in Web2. The scale was smaller back then, but I thought they were very impressive. In such a complex environment, they could persist; compared to them, I feel inferior. I wasn't as bold as they were.

Joe Zhou: You chose to start a Crypto business in 2025. What led you to this idea? How did your family and friends view your entry into this industry?

Wang Xin: After the pandemic, I shifted my domestic business to a B2B model, mainly engaging in human resources and flexible employment. Personally, I don't particularly like B2B business; my abilities and willingness are not focused on this. During the pandemic, we considered going overseas, particularly in the human resources sector. However, it wasn't successful. It's very difficult to think you can just change your product to English and push it out.

Later, I set two goals for myself. First, I must go out and not stay in China. The essence of going overseas is to get out. If you don't go out, then whether it's viewpoints, ways of thinking, or resources, it's hard to understand this world. Second, I still insist on technological innovation, relying on technological breakthroughs rather than relying on model innovation.

When I was working on flexible employment, I could try some model innovations, but at that stage, I was basically not concerned with technology. However, I later confirmed this point: due to the lack of technological innovation and core competitiveness, the business threshold was very low. Flexible employment refers to helping people hire individuals and issue invoices; whatever you want to express in terms of technical content is redundant. The most valuable thing is having a license; people don't care about other aspects.

Later, I realized that new entrepreneurship must place technology at its core, namely technological innovation and core technological strength. The latest technological core strength in today's world was already evident during the pandemic, divided into two parts: one is AI, and the other is Web3, which best represents the latest technology. Therefore, you must think about how these technologies can solve current pain points to make these decisions.

Joe Zhou: How did your family and friends view your shift from the internet to Crypto?

Wang Xin: As long as I do things, my family fully supports me, and I enjoy innovation and researching new things, so everyone understands my personality. Our family has a tradition of innovation; for example, the kids can use crypto wallets and perform on-chain operations, and my sister exchanges half of her private key with her brother.

Most of my friends are from Web2 and work in traditional industries. They are quite cautious about this industry, believing that there are many scams caused by historical reasons and reminding me to be careful. Secondly, before I described what I wanted to do, they hadn't seen anything concrete that could be implemented. Apart from infrastructure, public chains, or financial-related DeFi, they had seen very few application-level things and couldn't imagine how to proceed. However, after Trump launched his coin, interest increased significantly, especially among those looking to go overseas.

Joe Zhou: What about investors?

Wang Xin: They support me; investors generally have foresight. Our original investors, IDG and BAI Capital, knew I was entering the Crypto space and connected me with many resources.

Joe Zhou: You mentioned that your children are also engaging in on-chain operations. How old are they, and to what extent are they using Crypto products?

Wang Xin: They can use crypto wallets. The eldest is in high school and uses Phantom and OKX Wallet; the second is in sixth grade and uses Binance and Trust. They each use their own.

Recently, I bought some memecoins, like fair3, because it's my own CTO's (Community takeover) coin, and they also bought some. I let them decide when to buy and sell and encouraged them to pay attention to Twitter and community activities. Their understanding may not be as deep as ours; they just think it's fun. I told them if they could make a profit, they would have pocket money, which would motivate them.

Joe Zhou: How much on-chain assets did you give them to try?

Wang Xin: I gave them $1,000 to try. In the next phase, I will open some U cards for them to experience how to turn assets into U and then use U to consume.

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

Wang Xin: Not yet. We have a U card component in our business. When our own U card business starts, they will use it.

Joe Zhou: Do they have many peers around them who are playing with Crypto?

Wang Xin: Many of their classmates or friends in middle school have started to get in touch with stocks and Crypto investments. Under the Singapore education system, relatively more children are exposed to crypto; they are influenced by the IB system (International Baccalaureate). The IB education system is different from China's; it is not textbook-based and focuses on thematic research topics.

My youngest daughter had a graduation exam in the first half of fifth grade, and the final topic was AI. The final graduation exam was an exhibition, where we could observe their understanding of AI. They can clearly distinguish between pure AI and products with AI capabilities. Although it may not be entirely accurate, I find it very interesting. They will explain the benefits AI brings to them and will have a presentation process.

Joe Zhou: Are there relatively fewer discussions about Crypto topics?

Wang Xin: The teacher's ability is very important; what the teacher focuses on is what they will teach. If the teacher pays attention to Crypto, then there will be topics on it in the students' projects. I have a friend whose child started trading stocks and coins in middle school in the U.S. and is very professional, already making money.

He will present reports to decide which coins and stocks to buy, forming a group of four to write investment reports and PPTs, including stop-loss points and when to buy and sell. This is much more impressive than the average person. The teacher provides many topics similar to those in university, and they start researching topics from elementary school. This education system is completely different.

Joe Zhou: This reflects the social acceptance of Crypto and its future development. If children are not paying attention, then this industry may not have significant growth in the future.

Wang Xin: After coming out, I felt that this change is very significant, not just for children. For example, groups like Filipino maids.

Living in Singapore, I found that Filipino maids, Vietnamese aunts, or Burmese aunts no longer need to use the original remittance methods to send money back. Instead, they find local OTC to exchange for U and then transfer the money back, and relatives and friends can exchange U for local currency. Previously, remittances took a long time, but with U, it arrives directly, and the fees are lower, saving on exchange rates.

Delving into Blue Ocean

Joe Zhou: In this entrepreneurial process, which track in the Crypto industry did you choose as your entry point? What is the reason?

Wang Xin: The core point is still AI + Web3. AI is a productivity tool; it can replace people to continue operating, earning money, and growing. Our personal assets, data, and skills can all be accumulated, so I believe this is a very important aspect. The essence of Web3 is asset issuance and asset transfer, which is the core part. When combined with individuals, it signifies that in the future, everyone can realize their assetization.

I previously wrote an article discussing "the endgame of personal IPO," which is essentially about securitizing oneself. Currently, issuing coins has no threshold; it's easy to issue coins but difficult to operate. We don't need to write code; we just need to change the framework to issue coins. However, the problem you face is how to achieve the authenticity of the coin and how to turn it into a valuable coin, which requires thought.

I believe ordinary people find it difficult to solve these problems; they need a platform, just like TikTok back then. Ordinary people who want to become internet celebrities need to rely on a platform. Ordinary people need to realize their assetization and securitization, which also requires a platform that provides some basic technical support. Because an individual's ability is limited, they must train their AI to act as a public company. From this perspective, if a person gets sick or even dies, their coin becomes worthless, while their AI Agent is eternal.

To achieve asset securitization, it must go through Web3, which involves wallets, DEX, etc. Whether to use reasonable organizational methods to help Web2 users rather than making it convenient for Web3 users. Web3 involves many technical concepts and products; although we find it relatively easy to use, many ordinary users still find it complex. For example, I have communicated with my family multiple times, and even face-to-face communication takes a long time to understand. But if you just throw a product at ordinary users, it would be very difficult. At this point, the industry needs transitional products.

This is one of the most needed aspects of this industry: how to bring more Web2 users into Web3. Another very important point is why they should enter Web3. If it's just about saying that the content on Web3 is very fair and can protect privacy, then there's no need; what ordinary people need most is to make money. Here, making money is not about speculating on coins but about participating in creation to earn money within their means. Just like whether it's TikTok or other social media tools, they create wealth stories. When Li Ziqi made money, others thought they could try, leading more people to join. Once they come in, they can slowly learn and understand that besides making money, they can also gain more learning and communication benefits. I think this is different. If you only emphasize the advancement of technology, then that's not enough.

Joe Zhou: You just mentioned two points: one is how Web3 products can become more user-friendly, and the other is why Web2 users should enter Web3. Regarding usability, what kind of product are you planning to create?

Wang Xin: The changes are not just one point; most of them involve the integration and innovation of various technologies, such as wallets, social aspects, AI Agents, etc.

Regarding wallets, we might start with the simplest login. Currently, the most suitable way to log in is through a multi-chain custodial wallet, which is relatively simple to use with your ID, Twitter, or Google ID. For wallets, we use MPC shard storage, and users only need an account and password. We tell you that you can participate with just a little change.

In terms of social aspects, we understand that the latest model is developing towards decentralized social networking. I believe decentralized social networking is the most effective way, or the federated decentralized social networking that everyone recognizes. Although it seems quite complex from a technical bottom layer, it shouldn't be that complicated to implement; it still needs to be convenient for users. Since all platform-based products have their own social foundations, the choice of foundation also needs to be changed through technology.

Including some usage habits, for example, in Web3, we find that we always jump between some products, from here to there, even various authorizations. If not handled properly, money can be lost; if there's a problem with an authorization, money is definitely gone. There must be unification here, such as a built-in mini APP ecosystem that must be unified.

Additionally, how do you make AI Agents work? You should make it easy to use; you can't set it up complicatedly. It should operate based on its social media. For example, if I use Twitter, you can log in directly with your Twitter account, and that's it. Most Web2 users lack patience; they give you a very short time frame, even a minute is a favor. If they get stuck on the next step, they won't use it.

Joe Zhou: This seems different from most current Crypto products, which still require a decentralized wallet.

Wang Xin: This is not a new technology; the key is how to integrate it and how to help users transition. The best transitional method is to first go to a multi-chain custodial centralized wallet before moving to a decentralized wallet. This is a transitional process. If you have significant assets, you can place them in a decentralized wallet. If it's just giving you some red packets or small amounts of money, then the experience of a centralized wallet will be better, and it will give them the concept of having assets; only then will they ponder this matter; otherwise, they won't think about it.

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

Wang Xin: Users won't enter because of a certain technology. What pain points are you solving? Let me talk about a simple product principle: true innovation is something that can't be bought with money now. Why should I come? Because I can't buy it with money, so I must come.

For example, before the iPhone was released, no one bought a smartphone. It was only after the iPhone was launched that everyone started paying attention. Today, we want to achieve personal IPO in this way; I want to assetize to earn more money, but I can't realize it, so I make it happen, and people will come. There must be pain points or people's intrinsic needs that cannot be bought with money at this stage; product innovation is valuable.

Joe Zhou: Xiaohongshu and Douyin can also monetize through their own traffic. What are the differences or similarities between personal IPO and these monetization methods?

Wang Xin: There are two parts to this. The first part we call the endgame. Whether it's live streaming, short videos, or selling goods, I believe monetization is not the endgame; it's just a process. At least currently, there are many ways and methods to monetize. I believe this is not the endgame. That's the first point.

The real endgame is to bring securitization and assetization to fruition. Whether it's an individual or a company, they will eventually become a public company, and the process of continuously being a public company is not the final result. I believe this is the pursuit of the endgame.

The second point is the essence of Web3 decentralization, which is what belongs to you. On TikTok, accounts can be banned, and on Twitter, users are often banned; these accounts do not truly belong to the users. This is also why users will come if they have a choice.

Centralized products create a lot of unfairness. When you feel unfairness, you will seek to organize a group of people who have suffered unfairness to fight against it. For example, many overseas e-commerce businesses still struggle to be profitable because most of their funds are used to purchase ads on centralized platforms. Currently, e-commerce advertising spending is mainly reflected in reports, with Google ad spending accounting for 30-40% of overall costs; at least 30% is needed to be profitable, and some can account for 50%. What about games? It's around 60-70%. As for content short dramas, it's even worse, at 90%. In other words, if you earn 100 yuan, 90 yuan goes to buying traffic; how much do you think they can earn?

I believe there is too much unfairness here. Since there is this unfairness, we should have opportunities, which just happens to relate to my future entrepreneurial direction.

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

Wang Xin: We have three parts to our team. First, we have a technology and product team, which includes AI experts. Our CTO has seven years of experience in Crypto; without him, I wouldn't dare to work on wallets and custodians.

The second aspect is that we have specifically established a fund, Goldwill Capital, which will also have some innovations. It won't be like traditional Web3 funds; it's not a VC-type fund. Our fund is a KOL fund, investing in our platform on one hand and in our ecosystem on the other.

The third aspect is the community management team (Fair3 community) because we need to face a global audience. Coins involve many community management and market value management aspects, and our practical results have been very good.

Community, fund, and technology are essentially a practical process, and our team will implement them one by one. Everyone hasn't seen the product; they first saw this community, and our community is operating well. This is also my personal entrepreneurial habit; I really dislike building in isolation; I prefer real engagement. I strongly advocate for the minimal startup approach, namely the MVP approach. The minimal MVP approach is that products, operations, and funds can operate separately while they can also be implemented. Once a system is formed, it will become the optimal organizational method.

Joe Zhou: Is this entry into Web3 entrepreneurship considered all in?

Wang Xin: I am all in. The initial funds were all paid by me; I didn't seek investors. We have been developing for over a year. During the later stages of the pandemic, when I was thinking about going overseas, I figured this out: I must do B2C and go overseas. When going overseas, I must use advanced technology, namely AI Agents and Web3.