“A group of people who are the smartest receive remunerations incommensurate with their capabilities and contributions. This problem has been around in this Internet age for a long time. Hopefully, it’ll be resolved in the blockchain age,” said Mingo Chin from Security Chain (SECC) in Mars Finance interview.
Mingo Chin is a blockchain security expert, the Ecological Development Officer of SECC, a partner of Xing’an Capital, and the founder of Cloudchain Technology. He is on the first list of Forbes 30 Under 30 China and U.S.
In 2017, Mr. Chin founded security company in blockchain, providing military-grade network security solutions to blockchain corporate and individual users. The company is also the world’s only chip-level hardware and software wallet solution provider.
“What we’re doing now gives people the impression that we’re just a third-party blockchain solution provider or a security product company, but that is not true. We are transforming labor relations in the security industry through blockchain-related economic and technological systems and community consensus. All security companies are our potential partners,” said Mingo Chin of SECC.
Blockchain technology has undoubtedly emerged as a hot new technology in the fields of technology and finance. Global interest in blockchain is no longer confined to one institution; rather, it has expanded to large-scale collaborative exploration. However, thefts of digital currencies followed on the heels of the DAO incident. Statistics show that security incidents resulting from blockchain loopholes have cost more than US$ 2 billion since 2011. With rampant currency theft, digital currencies worth hundreds of billions of dollars have become more vulnerable than ever before, and the security of digital assets has turned into a serious concern. A software loophole may lead to astronomical financial losses. By exploiting a loophole, hackers can not only take over the virtual currency, transactions and applications in the network, but also obtain control of all the participating servers on the node.
The public should pay due attention to the security of blockchain as well as blockchain technology. According to Mr. Chin, the biggest problem with blockchain security at present is the shortage of security personnel with an adequate understanding of blockchain. At this stage, the most important duty is to help classical security personnel complete the transition and stimulate the entire security ecosystem by means of technology, community and investment incubation.
Mr. Chin point out that the value of security white hats (developers) have been so seriously underestimated that they make far less money than hackers. As such, some people are tempted into hacking rather than upholding justice. It’s very unusual that a group of highly intelligent people are paid a pittance for holding onto their ideals.
He said, “From now on, if you see any great security personnel or projects, please recommend them to us. SECC can provide them with free security consulting. When we enable all people to connect on all dimensions, the industry will grow in a healthier way and more people will take note of the enormous security needs.”