Xu Mingxing: The Obsession and Restraint of a Tech Geek
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Xu Mingxing: The Obsession and Restraint of a Tech Geek
As a pioneer, it's inevitable to face various misunderstandings, misinterpretations, controversies, or even criticism from the outside world. However, Xu Mingxing clearly doesn't have much time to deal with these distractions, as he has greater ambitions to achieve.
Navigating Web3 tides with focused insightsHe is an early "evangelist" in China's blockchain industry and a steadfast promoter of blockchain application research and industrial implementation. His company has grown into a globally leading blockchain industrial group, with businesses spanning blockchain big data, blockchain technology R&D and applications, blockchain industrial investment, and blockchain incubators.
He is Xu Mingxing, a renowned pioneer in Chinese blockchain technology and a blockchain "star" on the Hurun Rich List.
As a trailblazer, he inevitably faces misunderstanding, misinterpretation, controversy, and even criticism from outside. However, Xu Mingxing clearly doesn't have much time to deal with these distractions—because he has a greater ambition to fulfill: securing a place for China on the global blockchain stage.
Blockchain is an imported concept in China. OKLink Technology Group’s rise within just seven years into a globally leading enterprise stems from Xu Mingxing’s obsession with technology and his unwavering belief.
At the same time, the company maintains disciplined restraint in business expansion, adhering strictly to compliance standards, conducting operations according to the regulatory policies of different countries, and continuously adjusting strategies in response to policy changes. This allows it to remain principled yet innovative in this rapidly evolving industry, achieving steady development.
Xu Mingxing, the Entrepreneur: Empowering China's Blockchain Industry to Seize Global Influence
Born in the 1980s, Xu Mingxing is a serial entrepreneur. While studying mathematics at the graduate level at Renmin University of China, he dropped out midway to launch Wantuan.com, which later fell during the fierce “hundred-group battle” among group-buying websites.
In 2007, Xu launched another startup, co-founding Docin.com—a document-sharing platform—and serving as its CTO. But when Baidu Wenku entered the market, the under-resourced Docin was ultimately defeated in the competition.
During his time at Docin, Xu, with his technical background, keenly sensed the emerging trend of Bitcoin and blockchain. In 2013, he shifted from the internet sector to blockchain and embarked on another entrepreneurial journey. Later, as domestic regulatory policies evolved, Xu pivoted his company toward blockchain technology development and applications, determined to secure a position for China on the global blockchain stage.
Today, OKLink Technology Group has become a globally leading provider of blockchain technology and services, covering blockchain big data, blockchain R&D and applications, industrial investment, blockchain incubators, USD-compliant stablecoins, and licensed digital asset exchanges. Through its Hong Kong-listed subsidiary OKLink (01499.HK) and dozens of affiliated and controlled companies across the industrial chain, the group is expanding into more industries, empowering the real economy through blockchain technology and seeking the "greatest common divisor" between industrial development and technological innovation.
In terms of technological R&D, OKLink Technology Group established a dedicated Blockchain Engineering Institute. Its self-developed underlying architecture products not only realize many advanced blockchain features but also significantly enhance scalability. Among them, its proprietary data-layering technology and parallel multi-chain development technology reach world-leading levels, greatly reducing data transmission costs and dramatically improving blockchain application development efficiency. It is one of the few blockchain solutions worldwide capable of supporting large-scale commercial deployment.
In industrial investment and incubation, OKLink Technology Group has allocated $100 million in industrial capital and partnered with Source Capital to launch a 10-billion-RMB co-growth mother fund initiative, providing financing, investment, and comprehensive incubation support for high-quality global blockchain innovation projects and foundational technology R&D, thus building a robust blockchain industrial ecosystem.
In December 2018, OKLink Technology Group joined forces with industry partners to launch the Beijing Blockchain Ecosystem Investment Fund, with an initial size of 1 billion RMB, promoting traditional enterprises’ business transformation and application innovation through guided funding. The group also collaborated with leading industry players to invest tens of millions of dollars in establishing a physical blockchain incubator in Hangzhou. In April 2020, OKLink announced a multi-million-dollar investment in Yunqu Technology to help Wuhan-based tech companies restart after the pandemic and expand digital economy opportunities.
Meanwhile, leveraging its blockchain big data capabilities, OKLink Technology Group actively assists regulators in on-chain law enforcement, combating black-market activities, and smart policing. The company's self-developed blockchain browser, OKLink, and its "Chain Insight" feature offer not only commercial functions such as basic blockchain data queries, address tag databases, address profiling, and cross-chain data aggregation, but also anti-money laundering features including on-chain transaction tracing, address relationship analysis, and fund flow tracking. Additionally, OKLink Technology Group has worked with companies like Baidu, 360, and Xiaomi to co-draft the first anti-money laundering standard for blockchain industry applications.
Since its launch, "Chain Insight" has assisted multiple judicial agencies in blockchain-based anti-fraud and anti-money laundering efforts, repeatedly helping users recover losses. In November 2020, the Criminal Investigation Detachment of Xiaoshan Public Security Bureau in Hangzhou sent a letter of appreciation to the company, recognizing "Chain Insight" for its contributions to combating crime in the digital asset sector and safeguarding national financial security.
Beyond empowering China’s blockchain industry, OKLink Technology Group consistently follows the national strategy encouraging high-quality enterprises to "go global," advancing the globalization of its operations. Currently, the group has established branches in over 10 countries and regions including China, the U.S., Europe, Japan, and South Korea, with operations spanning more than 180 countries and regions worldwide. By exporting China’s blockchain solutions, it creates synergies between domestic and international markets, helping Chinese blockchain technology seize global influence and occupy leading positions in the global industry.
In November 2020, OKLink Technology Group was selected as part of the "China New Economy Top 30" at the 4th Global Youth Innovation Conference, alongside new-economy leaders such as Yitu Technology, Hema Fresh, and BOSS Zhipin.
"OKLink Technology Group rarely talks about our vision, but like those who came before us, we hope to make even a small positive change in the world—that remains the truest voice in my heart," said Xu Mingxing.
Xu Mingxing, the "Evangelist": Showing More People the "Future"
Xu Mingxing is also one of China’s earliest "evangelists" for Bitcoin and blockchain technology.
In 2011, while working at Docin, he was inspired by a line from the American TV series *The Good Wife*: “Bitcoin is the future, real is gonna change,” which led him to delve into the blockchain technology behind Bitcoin, transforming him into a devoted "blockchain believer."
In its early days, blockchain was popular only among a small circle of tech enthusiasts. To broaden public understanding of this emerging technology, Xu began his journey as an "evangelist." He led teams in publishing books such as *Blockchain: Reshaping Economics and the World*, *Illustrated Blockchain*, and *Token Economy*, and created educational animation series like *Chain and the Future*.
At the same time, Xu seized every opportunity through public appearances to advocate for blockchain technology, dispel myths, and correct misconceptions about the industry.
In November 2019, speaking at the All-China Federation of Industry and Commerce's "Deshengmen Lecture Hall" in Fuzhou, Xu clarified: The term "decentralization" in blockchain is a mistranslation—it should be understood as "removing intermediaries." In fact, there is a very powerful "center": the designer of the rules. Bitcoin is not a "currency"; fundamentally, it is a form of digital points or application tokens.
Subsequently, Xu emphasized in multiple public forums that blockchain can enable real-name identification via IP addresses and that governments can exercise oversight through a master private key. He added that using blockchain to implement national policies would be highly effective.
After the outbreak of the pandemic in 2020, Xu participated in the National Committee of the Chinese People's Political Consultative Conference’s online forum, highlighting how blockchain technology shone during the crisis. He shared outstanding real-world cases of "blockchain + supply chain" applications, spreading positive energy throughout the industry.
Xu Mingxing has also actively contributed to building communication platforms among government, industry, academia, research, and end-users, promoting collaboration and advancing blockchain research and practical applications.
In December 2015, Xu was appointed founding chairman of the China Blockchain Application Research Center, initiated by China’s first Internet Finance Museum, aiming to promote financial literacy through a public-interest research platform and establish public awareness standards.
In 2016, Xu was successively appointed a specially invited expert at the Zhongguancun Internet Finance Association and a member of the National Internet Finance Safety Technology Expert Committee. He attended the inaugural meeting of the committee alongside officials from MIIT, the Ministry of Public Security, the People's Bank of China, SAIC, CBRC, CSRC, and CIRC.
In December 2019, the Hainan Provincial Blockchain Association, jointly initiated by OKLink Technology Group and others, was officially approved—becoming one of the few provincial-level blockchain associations in China, aimed at promoting industry self-regulation and guiding blockchain enterprises.
In May 2020, the Beijing Youth Internet Association established a Blockchain Working Committee, electing Xu Mingxing as chair. Upon appointment, Xu stated, “We will work hand-in-hand with institutions across the industry to actively participate in the association’s initiatives, contributing to the advancement of blockchain technology and the broader industry.”
In October 2019, blockchain was elevated to a national strategic level. In April 2020, the National Development and Reform Commission formally included blockchain in the "new infrastructure" category. With strong policy support, the industry has entered a new era of accelerated growth. However, the shortage of blockchain professionals has increasingly become a critical bottleneck.
"We must strengthen talent team building, establish and improve talent cultivation systems, create diverse high-level training platforms, and nurture leading figures and high-caliber innovation teams." emphasized President Xi Jinping during the 18th collective study session of the Political Bureau of the CPC Central Committee.
To promote blockchain talent ecosystem development and respond to the national call for stable employment, OKLink Technology Group launched its blockchain talent development initiative—the "Kunpeng Plan"—in May 2020, announcing hundreds of blockchain-related job openings that year. It also pledged to collaborate with key universities and research institutions on industry research and talent training, aiming to cultivate over 1,000 blockchain elites within three years.
Additionally, OKLink Technology Group has actively supported blockchain strategies at various government levels, hosting special research visits from organizations including the Publicity Department of the CPC Central Committee, the Cyberspace Administration of China, and the National Radio and Television Administration. It has delivered lectures for blockchain training programs organized by institutions such as China Media Group, and municipal governments of Beijing, Tianjin, Shanghai, Fujian, and Jiangxi. The group has advised lawmakers and policymakers and co-hosted blockchain summits with Hainan Province and Sanya City, promoting blockchain awareness among decision-makers and managers.
Xu Mingxing, the Philanthropist: Fulfilling the Responsibility of an Industry Leader
"Shall I say there is no armor? I shall share mine with you."
This patriotic war chant from ancient Qin over three thousand years ago warmed the cold winter of Hubei in 2020, boosting national morale during the fight against the pandemic. Alongside the phrase "Though mountains and rivers separate us, we share the wind and moon under the same sky," it became one of the most touching moments of the pandemic and was widely reported by authoritative media outlets including Xinhua News Agency’s *Reference News* and Japan’s Asahi Television.
These words appeared on stickers attached to a batch of medical supplies procured from Japan by OKLink Technology Group through the Japanese NPO Benevolence Heart Association and shipped back to China. This gesture unintentionally brought the company into the public spotlight beyond its usual circles.
But going "viral" was never Xu Mingxing’s intention. "We are fully supportive of any actionable donation—tens of millions is not a problem. But the relief team must bypass middlemen and must not exploit national hardship for publicity," Xu instructed internally on January 24, 2020—the day after Wuhan’s lockdown.
Just three days later, on the third day of the Lunar New Year, OKLink Technology Group swiftly established a 10-million-yuan special fund for epidemic prevention and treatment, partnering with the China Charity Federation to support frontline protection efforts. The donated funds were used to purchase medical supplies and provide allowances for frontline healthcare workers.
At a time when medical supplies were critically scarce nationwide, OKLink mobilized staff around the globe to urgently procure surgical masks, protective suits, isolation gowns, latex gloves, goggles, and face shields—urgently needed items—shipping six batches to 24 hospitals across 13 cities and counties including Wuhan, Huanggang, Xianning, Ezhou, Jingzhou, and Pingxiang in Jiangxi, alleviating life-threatening shortages on the front lines.
OKLink Technology Group’s decisive and action-oriented approach earned widespread acclaim from relevant authorities, receiving over 30 letters of gratitude from recipient organizations, praised for its "patriotic spirit and sense of responsibility."
After the domestic situation eased, OKLink continued monitoring the overseas pandemic, ensuring the health and safety of its overseas employees, while actively participating in China’s "new infrastructure" drive to support post-pandemic economic recovery.
Furthermore, OKLink Technology Group has proactively taken on the role of a global blockchain industry leader, launching and implementing multiple public welfare projects with partners such as the United Nations Children's Fund (UNICEF) and Tencent Charity, conveying the values and positive impact of blockchain enterprises to society.
Looking ahead to 2021, Xu Mingxing said, “We hope to play a demonstrative and leadership role in the industry. On one hand, we will continue deepening our focus on blockchain technology, guiding social resources toward projects that truly meet blockchain use cases and preventing the technology from becoming mere ‘armchair theory.’ On the other hand, we will increase capital investment to build and refine the blockchain industrial ecosystem, promote broader public understanding, and thereby advance the development of the entire industry in China and around the world.”
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