Author: Mankiw Brand Department
Opening words
"Startup Web3.0" is an interview program for Chinese Web3.0 entrepreneurs initiated by Mankiw LLP. Every Wednesday night, we invite industry leaders, first-line institutions, and well-known entrepreneurs to be guests in the live broadcast room. Through positive voices, rational discussions, and experience sharing, we help the compliance and healthy development of China's Web3.0 industry.
In the Web3 era, with asymmetric cognition, talent shortage, and unclear asset application scenarios, how can we link the three through education to help the industry develop healthily? In this issue of "Startup Web3.0", Lawyer Niu Xiaojing from Mankun Law Firm talks with Yang Jun, President of Hong Kong Web3 University. From the "knowledge migrant worker" of traditional consulting to the "Whampoa Military Academy" of Web3 education, Yang Jun, with eight years of consulting experience and seven years of deep cultivation in Web3, shares how Web3 University can enable cognitive upgrades, talent training, and asset applications through systematic education, help Web2 enterprises transform and individuals integrate into the Web3 ecosystem, and inject rationality and long-termism into the industry!
(The audio transcription has been processed by AI, so there may be omissions and errors)
Welcome this episode’s guest, please introduce yourselves to everyone!
Niu Xiaojing: Tonight we are particularly honored to invite Yang Jun, founder of 3.0 Global Research Institute and president of Hong Kong Web3 University, to bring a hardcore theme: "What is Web3 University doing? Linking the underlying logic of cognition, talent and assets". We will explore in depth how Web3 education can empower industry development, help Web2 enterprises transform and individuals integrate into Web3. Looking forward to President Yang's sharing!
Yang Jun: Thank you very much, Lawyer Niu! In the industry, I have seen that Mankiw has made a lot of contributions in recent years, from compliance to education, to improving everyone's cognition and popularizing knowledge. I have also learned a lot from Mankiw, especially in compliance and industry development. I remember the last time I communicated with Lawyer Liu Honglin in Shanghai, we both felt that we should be down-to-earth to empower the industry, not stand on the project platform casually, and focus on doing the right thing, so that we can go further and longer. My name is Yang Jun. I worked in a traditional enterprise management consulting company for eight years in the early days, involving strategic transformation, organizational processes, human resources, etc. I have been involved in various projects, such as in Xinjiang and Chengdu, where I went deep into enterprises for half a year to solve confusion and problems. This experience gave me a deep understanding of the growth and pain points of enterprises, and also laid the foundation for my original intention in the field of education.
In 2018, the blockchain craze was on the rise, and many companies asked me to teach blockchain awareness courses. I integrated industry resources, studied policies and technologies, and found that many people used the banner of blockchain to do things that were inconsistent with the essence of technology, leading to a crisis of trust. In 2020, I joined Huobi University and founded the Global Blockchain Leaders Course, which trained a group of Web3 entrepreneurs around the world and was called the "Huangpu Military Academy" of the industry.
On January 18, 2025, I officially registered the 3.0 Global Institute in Hong Kong, referred to as Web3 University, which is positioned as the "McKinsey" of the Web3 industry. Based on Hong Kong's policy advantages, it provides business management consulting and education. The past transformations from consulting to Web3 were not easy, but being able to stick to it was a huge boost for me and the industry. I am very happy to share with you today. Welcome to follow Web3 University and ask questions!
Q1: From Huobi University to Web3 University, what is the original intention and motivation of education?
Niu Xiaojing: President Yang, your choice of the education track is unique, and many people are unwilling to do it. Did your experience at Huobi University give you the motivation or inspiration to establish Web3 University?
Yang Jun: This is the key point! From traditional consulting to Web3 education, not only do you have to spend time and energy, but you also have to verify in practice whether this industry is worth deepening. At the beginning, I had traditional thinking and felt that it was unnecessary to run a university in the crypto industry, and I could just outsource consulting projects. When I joined Huobi University, I took on projects like consulting, from 0 to 1, but the process completely overturned my cognition. I "isolated" traditional customers, friends, and colleagues - it's not that I isolated them, it's that they thought I was not doing my job in blockchain! At the dinner table, I talked about my work in blockchain education, and everyone asked, "What is blockchain?" I didn't quite understand it myself, and it was very painful.
At Huobi University, I had in-depth exchanges with executives, investors, technical experts, and the core team of the project, and found that Web3 is not the "lotus" on the surface, and the foundation is completely different. We have been entangled in whether the course is money-making oriented or empowering industry development. Huobi University chose the latter, positioning the global blockchain leader course. It has been running for four and a half years and has cultivated outstanding alumni all over the world. It is called the "Whampoa Military Academy." This made me see the value of education: it is not for making money, but to shape the brand, empower entrepreneurs and technical talents, and promote the globalization of projects. This original intention made me decide to establish Web3 University. I want to be the "McKinsey" of Web3. Through systematic education and consulting, I can help the industry establish cognition, cultivate talents, link assets, and promote development down to earth!
Q2: What made you decide to switch from traditional consulting to Web3, and why did you choose blockchain education?
Niu Xiaojing: Your transition from traditional consulting to Web3 education is like a second transformation of your career. What made you decide to give up the high-end and respectable consulting industry and enter the then little-known blockchain?
Yang Jun: It is indeed the second transformation, which is very challenging! Traditional consulting made me a "knowledge migrant worker", which was quite hard. I was sent to slaughterhouses, coking plants, power plants, and coal mines in Xinjiang and Chengdu, sleeping and living with middle and senior management, discussing corporate development, and tracing management problems. The problems of each company are similar, but the culture and executive decision-making vary greatly. Some executives think that transformation is a matter for the second generation, while others think that it is better to do less than more. This made me deeply realize that the difficulty of an enterprise lies in talent training and selection, training and retention. HR is looking for people everywhere, but whether people can be used depends on whether the company's strategy and culture attach importance to talent.
In 2018, the blockchain boom hit, and companies asked me to teach cognitive courses. I found that many people were doing things that were not in line with technology under the banner of blockchain, and the industry had a serious trust crisis. I had traditional thinking and felt that there was no need to do education, but after getting in touch with the industry, my cognition was overturned. Web3 is not only technology, but also an ecosystem, involving cognition, talent, and assets. The transformation was painful, and my friends thought I was not doing my job properly, but I saw the potential of Web3: it can change production relations and affect the future like AI. I made up my mind to put aside traditional experience, enter Web3 with an empty cup mentality, and focus on education, because only systematic learning can enable companies and individuals to understand and integrate into this track!
Q3: What are the similarities and differences between Web3 education and traditional education?
Yang Jun: Traditional education and Web3 education have similarities, but they focus on different things. Traditional education focuses on improving knowledge and skills. Enterprises customize training according to needs to solve the knowledge and skills problems of job or industry development. The goal is to cultivate available talents for enterprises and create value. Web3 education must first solve the cognitive problem. The Web3 ecosystem is complex. Many people don’t know what blockchain, metaverse, DeFi, and RWA are, and even think that Web3 is just speculation. We want to let students go from "it has nothing to do with me" to "it will definitely be related to the future." Just like AI changes life, Web3 will reshape production relations.
The difference of Web3 education is:
Cognition first: Traditional education focuses on skills, while Web3 education focuses on cognitive transformation, helping students understand industry trends, policies, technologies, and application scenarios.
Empty cup mentality: Web3 changes rapidly, and traditional thinking does not work. Students need to let go of their inherent ideas, just like I let go of my consulting experience.
Practice-oriented: Web3 requires participation and experience, such as downloading wallets and understanding asset management. Otherwise, it will be difficult to integrate if you just listen without practicing.
The similarity is that they all rely on systematic learning. Education is the foundation for any industry and any stage. The goal of Web3 University is to help Web2 users and enterprises understand and apply Web3 through systematic courses, lower the cognitive threshold, and avoid the high "market cognitive tax"!
Q4: What are the common misunderstandings and enlightenment methods of Web3 education?
Yang Jun: The most common misunderstanding is that Web3 is just a way to speculate on coins or Bitcoin, or a chance to get rich quickly. Many people add me on WeChat and ask, "How do I make money? How do I promote my project?" They are not leeks, but they have a big cognitive bias and think that Web3 is a quick and easy way to make money. In fact, Web3 is an ecosystem that involves technology, applications, and compliance, not speculation on digital assets.
The key to enlightenment is to change cognition and make students go from "irrelevant" to "relevant". I didn't understand blockchain in the early days, and I didn't even want to download the exchange APP, thinking it had nothing to do with me. Later, the company arranged systematic learning. After I participated, I found that the assets were realizable, and then I started to pay attention. In 2019, we conducted blockchain popularization training for central enterprises, state-owned enterprises, public security, procuratorial and judicial personnel. After listening, an "uncle" said: "It turns out that this track can be a side job!" This shows that cognitive transformation requires experience and systematic learning.
Our enlightenment method:
Reverse thinking: Traditional thinking is like farming, planting in spring and harvesting in autumn, but Web3 needs to jump out of the inherent framework. For example, when I teach, I will use the "elevator case": waiting for the elevator during peak hours, everyone queues up, but people with reverse thinking will go to the underground first floor and take the empty elevator directly to the target floor. Web3 requires this kind of empathy.
Basic courses: Web3 University has designed 11 "wealth awareness courses" to help Web2 users enter Web3 and understand basic concepts (such as the metaverse, RWA, and cross-chain) starting from reverse thinking.
Practical guidance: encourage students to participate, such as downloading wallets, understanding asset management, finding common ground, and stimulating interest.
The most important thing is to let students understand that without participation and experience, they cannot understand the value of Web3. Education is not about forcing changes, but about influencing them with behavior and guiding them to take the first step!
Q5: What is the first step for Web2 enterprises to transform to Web3? What key actions are needed?
Niu Xiaojing: Many Web2 companies want to transform to Web3, but they don’t understand the industry and have cognitive biases. What do you think is the first step for companies to transform? What key actions are needed?
Yang Jun: The first step is education and learning, but we cannot make a big and comprehensive transformation. The current economic environment is difficult, enterprises are having difficulty operating, senior executives have different perceptions, and the motivation for transformation is insufficient. If the core decision-makers do not want to change, they should first manage the existing business well and then transform when the time is right. Key actions for transformation:
Local innovation: Don’t go all in on globalization or full business transformation. It is recommended to set up an innovation department, train core personnel to learn Web3, and explore feasibility based on the actual situation of the enterprise.
Team learning: The senior management team (CEO, CFO, CTO, etc.) should learn together. You cannot expect the boss to go back for training after learning. Team learning can unify cognition and avoid the embarrassment of "the boss is crazy".
Understand terminology: At least you need to understand the basic concepts of Web3, such as the metaverse, RWA, and cross-chain, otherwise there will be a lack of common language for external communication.
For example, I have been in contact with an AI company that first established a small-scale AI research team, and then gradually expanded it into a research institute and even an independent subsidiary. Web3 transformation can be used as a reference: start with a small team to test the waters, combine corporate culture and strategy, and gradually advance. You can't just go all in when the market or experts say "the Web3 era is coming". That is unrealistic and undesirable!
Q6: How does Web3 University help Web2 enterprises transform? What are some specific cases?
Yang Jun: In the early days, most of our students were individuals, such as those with a technical background, investors, or entrepreneurs who wanted to start a project. In recent years, the economic environment has been bad, and the demand for corporate transformation has increased. We have come across several cases:
Jade RAW RWA: A student has 400,000 tons of jade raw stones and wants to transform through RWA (real world asset tokenization). We analyzed compliance, process and ecological feasibility and suggested a small-scale trial and gradual progress over 3-5 years.
Real estate assets: Some companies own leased land but are unable to build or lack funds, and want to revitalize their assets through RWA. We provide consulting, evaluate policies and markets, and recommend exploring the integration of virtual and real assets in conjunction with digital transformation.
These cases show that RWA is a hot spot for transformation, but not all companies are suitable for it. Transformation requires:
Compliance first: ensure that the project is legal and compliant to avoid policy risks.
Clear process: From asset evaluation to tokenization, systematic planning is required.
Ecosystem matching: Whether corporate resources are suitable for the Web3 track will take 3-5 years to verify.
Our courses use case studies to help companies understand the application scenarios of RWA and other tracks, and avoid blindly going all in. Education is not about making companies make money immediately, but about reducing the "cognitive tax" and finding a suitable transformation path.
Q7: What are the common misunderstandings and solutions for Web3 education?
Niu Xiaojing: You mentioned that many people think of Web3 as a way to speculate on cryptocurrencies or get rich quickly. In the face of these misunderstandings, how does Web3 University guide students to view the industry rationally?
Yang Jun: The most common misunderstanding is that Web3 is a tool for speculating on coins, getting rich quickly, or just a "virtual project". Many people ask right away: "How can I make quick money?" In fact, Web3 is an ecosystem that requires a combination of virtual and real. Tracks like RWA tokenize real assets and change production relations. The root cause of the misunderstanding is the lack of systematic cognition, scattered information sources, reliance on media accounts or short videos, and easy to be misled by extreme views.
Web3 University’s response:
Systematic courses: 11 wealth cognition courses, from reverse thinking to basic concepts, to help students establish a system framework and understand the technology and applications of Web3.
Practical guidance: Teach security awareness, such as wallet management and mnemonic phrase storage. In 2017-2018, many users had their coins stolen due to lack of security awareness, and even downloaded fake wallets, causing their assets to be zeroed out. We teach practical operations step by step to avoid "cognitive tax".
In-depth communication: Encourage communication with senior professionals to gain real knowledge on technology and applications, rather than blindly following hot topics.
For example, I often talk about security awareness: no matter how much assets you have, if you don’t have wallet security awareness, your assets may be gone overnight. The goal of Web3 education is to let students see the essence of the industry, participate rationally, not chase short-term projects, and pay less "cognitive tax"!
Q8: Is being in Hong Kong an advantage for Web3 University?
Niu Xiaojing: Web3 University is located in Hong Kong, you must have your own considerations. With the introduction of policies such as the Hong Kong Stablecoin Act, what is Hong Kong's position in the Web3 ecosystem? How is it linked to the mainland economy?
Yang Jun: Hong Kong is an ideal place for Web3, with advantages in policies, talents, and compliance:
Policy support: Since 2020, Hong Kong has introduced favorable policies to attract projects from Singapore and other places to return. The recent implementation of the Stablecoin Act will boost the development of the global payment system. Just like Alipay changed our lives, Web3 will reshape global finance.
Talent aggregation: The eight prestigious universities in Hong Kong attract students with academic qualifications and identity requirements. Web3 University combines university resources to provide professional certificates and credit courses to meet educational needs.
Sense of security: Early mining practitioners lacked a sense of security after going overseas. Hong Kong provided a compliant environment and exchange convenience to enhance industry confidence.
The linkage with the mainland economy lies in compliance and application scenarios. If mainland Web2 enterprises want to transform into RWA, they need compliance support from Hong Kong, such as professional teams like Mankiw, to help enterprises lay a solid foundation. Web3 University is based in Hong Kong and plans to launch a series of courses in July. It will combine universities and industry experts to carry out study tours and practical training to help mainland enterprises and individuals integrate into Web3. Hong Kong is not only a policy highland, but also a connection point for talents and assets!
Niu Xiaojing: Hong Kong's policy + talent + compliance advantages, Web3 University is accurately positioned! The linkage between stablecoins and RWA opens up imagination space.
Q9: How can young people enter the Web3 industry? What suggestions do you have?
Niu Xiaojing: For young people who want to enter Web3, who lack industry knowledge but care about career development, which directions would you recommend starting from? In addition to currency speculation and project arbitrage, is there a path to industrial landing?
Yang Jun: For young people entering Web3, it is best to join a company with a background, long operating history, and reliable values. Start as a junior employee and rotate through marketing, technology, operations, and other positions to avoid wanting to make quick money right away. My suggestions:
Learning comes first: Web3 is fast-paced, and you will fall behind if you don’t learn for a week. The investment research team spends 7-8 hours a day studying information, and young people should have this spirit of research.
Choose a reliable team: Following the right people and choosing the right project are more important than academic qualifications. People with secondary or vocational school backgrounds can also make it big in the industry. The key is cognition and execution.
Industry landing path: Join an exchange, project or technical team, start from a basic position, accumulate 2-3 years of experience, and you may become an industry expert. For example, I am in Huobi University, the team is distributed, working during the day and discussing new tracks for 3-5 hours at night, growing rapidly.
Don’t go all in on projects or chase after getting rich quickly. Take it step by step, learn about industry trends, and participate in practical operations to find long-term value in Web3!
Q10: What are your plans for the future? Share your insights about Web3 or life!
Niu Xiaojing: In 2025, what is your plan for Web3 education in the next three years? What is the one thing you want to do most? Share an insight about Web3 or life!
Yang Jun: The core of the next three years is to deepen education and do one thing well: build a physical university of Web3. Specific plans:
Expert think tank: select high-quality experts and professors to establish an industry think tank. The current difficulty is that some experts are not convenient to teach or lead projects, and we need to balance depth and compliance.
Physical University: Establish a Web3 physical university within 3-5 years, combining distributed teaching and alumni resources to cultivate global digital business talents.
Reduce cognitive tax: Through popular courses (from novice to advanced) and high-end training, help Web2 companies and individuals integrate into Web3 and avoid detours, especially in hot tracks such as RWA.
We also designed a Youth Future Leaders Camp (5 days and 4 nights) to take middle and high school students to experience Hong Kong Disneyland and the AI Science Museum, learn Web3 tools, and stimulate their interest. The course is aimed at novices, enterprises, and high-end groups, covering cognition to practice, and helping the development of the industry.
Life Insights: Heaven is vigorous, so a gentleman should constantly strive for self-improvement; Earth is low, so a gentleman should be broad-minded and bear all things. When I was in the CEO class of Tsinghua School of Economics and Management in my early years, I was touched by this school motto. In the Web3 industry, when I was young, I was self-improving and daring; now that I have calmed down, I need to bear all things with broad-mindedness and hold on to my wealth and original intention. Web3 is not a shortcut to getting rich, but an ecosystem that requires learning, deep cultivation, and compliance. I often think of the "three-dimensional cultivation" of Wang Mingfu, a consulting predecessor: height, thickness, and width. Web3 is like a lotus, with a bright surface, but a solid foundation. I hope everyone will not chase hot spots, grow steadily, and use cognition to match wealth!
Niu Xiaojing: Thank you for the one and a half hour of sincere sharing by President Yang Jun! From "knowledge migrant workers" to the "Huangpu Military Academy" of Web3 education, from cognitive upgrades to talent training, to the transformation guidance of RWA and other tracks, it is full of practical information and countless inspirations!
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