Guangming Online: Exclusive Interview with Charlie Xu

Founder of Hashgard Charlie Xu was present at 2019 China Internet Conference in mid-July and was interviewed by Guangming Online. He shared his opinion about open finance DeFi and Hashgard concept.

Link to the article of his interview with Guangming Online

The following is is the whole article of the interview.

Financial industry has entered a new stage as the Internet, Artificial Intelligence, big data advance greatly. Charlie Xu had worked in iFlytek, ZTE and Huawei as a coder. He has invested multiple projects as a new investor. Like many of us, he is witnessing the rapid development and change in financial industry.

“The first feature is openness. The original participants and ways to participate have changed greatly.” Charlie said. “A set of open-source software code can be used to build a system and a platform and therefore to run financial business.” Our financial system involved with seller, buyer and agents is more open than the old centralized regulated financial system.

Charlie said that launching a system will be really fast because most of the codes are open-source. It took several months even a couple of years to launch a system before, but now it only needs one or two months, even a couple of weeks, with much lower costs and faster speed of developing.

Moreover, technically speaking, these financial systems are built through decentralized network and distributed ledger. Cryptography is used to ensure the consistency and reliability of the data. Maintaining and operation cost is much lower than that of the traditional centralized financial system. Technologies such as zero-knowledge proof and secure multi-party computation are applied to protect the privacy of users and data in the open financial system.

“Open financial system can achieve trustless, low-cost, high-density and minor transaction via smart contract, because the smart contract system in blockchain can put the whole transaction process on the chain, execute through code automatically, lower transaction cost while solve the trust issues.” Charlie added. “There isn’t a single center and an intermediate party in blockchain, so the transaction cost is nearly none.”

“In traditional finance, the cost to defraud is low while the cost of fraud check is very high. Therefore, data on the chain can only be checked and not to be altered. Even the money itself will flow along the blockchain through automatic execution and will not be managed by human in the future.” Charlie said.

There are many factors preventing the development of blockchain even though it’s a hot area. For example, the imperfect infrastructure and the lack of talents needs. We still have a long way to go. After all, technology of blockchain can’t be easily used and we still need a set of infrastructure.

That’s how Charlie’s Hashgard was established. Hashgard is a new-generation of digital finance public chain. It aims to provide an open-source distributed internet as an infrastructure of financial industry, ensure the safety of data and capability of data processing, support the development and deploy of smart contract and enable the interconnectivity of different chains.

As an entrepreneur in blockchain industry, Charlie confesses that the outside world has some misunderstanding of this industry and treat the practitioners as weird people. Of course, most of the practitioners in the industry are not committed enough.

Blockchain market is still in the early stage of development and is far from saturated. What surprises Charlie Xu and his colleagues is that many internet practitioners talked about “all in blockchain” in early 2018, while in the mid of 2019, they think “blockchain in all” is the trend. Many people in traditional industries started to explore how to use and integrate blockchain technology with their own industry.

“Aim high and work hard and this is the spirit of our team.” Charlie Xu said. We have a deep understanding and a long-term view about blockchain and open finance. And we are a down-to-earth team. We keep strengthening our technology step by step. Starting a business requires resilient spirit and strong will and a proper opportunity that advances the project to grow fast. This kind of opportunity may come by with luck.”

Introduction to Guangming Online:

In 1998, Guangming Daily launched its official website Guangming Online (, which was one of the earliest news websites in China. As of July 2017, Alexa Internet ranks the website as the 73rd most visited in the world and 14th in China.( )

Hashgard is a new generation of digital financial public chain led by Fenbushi Capital and BKFUND and invested by 80 well-known investment institutions. The public chain will create an open, high-expansion ecosystem, solve the pain points in the digital finance field through technological innovation and ecological construction, protect the assets and rights of investors, and promote the healthy development of the digital finance industry.

The Hashgard Technology Empowerment Platform is the first distributed commercial application on the public chain to provide enterprise-level services for a diverse blockchain ecosystem, including but not limited to digital asset management, securities tokens services, multi-party collaboration, and intelligence. One-stop solutions for contract deployment, community reward distribution, content & media promotion, and legal compliance.

Hashgard is a new generation decentralized finance public blockchain. Garding the Realm of Blockchain!