12Ships: How to Get Ordinary Users Involved in Mining Investment As Easy As Possible?
On April 14th, 12Ships CEO [Qianjie Zhao] and Marketing Director [Irene] attended the Gate.io AMA room to launch 12Ships’ debut show in Chinese market. They introduced 12Ships’ development history, main business, features and advantages, and ecological layout in a simple way. Meanwhile, they talked about the future development plan and vision in the Chinese market.
The recap of AMA is as below:
Q1: Hello everyone. It’s a great pleasure to have Qianjie Zhao, CEO of 12Ships, and Irene Young, Marketing Director of 12Ships in China, here at the AMA room of Gate.io. First of all, Let’s ask them to say hello to everyone and introduce themselves briefly.
Qianjie Zhao: Hi there, I’m Qianjie Zhao, CEO of 12Ships. It’s a great honor to be here at Gate.io. I am looking forward to talking to you tonight!
Irene Young: Good evening everyone! I am Irene, and I am in charge of the Chinese marketing of 12Ships. I am mainly responsible for the operation and promotion of 12Ships in the Chinese market. I’m looking forward to more supports from you! Thank you.
Q2: As a matter of fact, 12ships was established as early as May 2018. Could Mr. Zhao introduce the history of 12Ships to us?
Qianjie Zhao: Sure! 12Ships is a project originated in South Korea. It aims to provide a way for ordinary users to participate in mining more conveniently. As an ordinary user who wants to participate in the mining is actually more difficult than those professional. For ordinary individual investors, the participation threshold is much higher whether on the mining equipment acquisition, to the mining operation and equipment maintenance. In a word, the costs of up-front investment and for the further maintenance is relatively high.
The specific operation logic of 12Ships is that 12Ships is supposed to design and produce mining machines, and to run and maintenance the machines properly. The mining profit generated by 12Ships’ mining machine is used for token buyback&burn and further build its own ecosystem. The ICO of 12ships, which was conducted on one of the largest blockchain platform in Korea (Cobak), is relatively successful, and its market development is also ahead of expectations.
12Ships also experienced the market downside from 2018 to 2019. Affected by this, the original 12Ships team was unable to continue to develop new mining machines, but they still maintained a good relationship with relevant IC chip design companies and manufacturers. In April 2020, Vancores acquired 12Ships and introduced CoolDog001 to 12Ships ecological mining pool — Hansando Pool. CoolDog001 products supports multi-algorithm parallel mining and owns the ability to switch hash power in real time according to different market conditions.
Q3: There are a lot of new users who may not know much about 12Ships, so could you tell us about the project of 12Ships in detail?
Qianjie Zhao：The logic of 12Ships is simple and clear. We always focus on the cryptocurrency mining industry. The rising of DeFi has been really popular over the last six months. And with the help of our own understanding and experience accumulated in this field, we will expand the 12Ships business from PoW mining to PoS mining and even DeFi. TSHP is the token of 12Ships. On the one hand, TSHP integrates our entire mining industry. On the other hand, this token is also an indirect access to our mining profits. We will also develop some new products. Once we get ready to launch the products, we will inform the users of Gate. io at the first time.
Q4: 12Ships mining machines have always been known for their high performance and low power consumption. Which generation of products have they been developed to? What are the features and advantages of your products in the increasingly heated market competition? Please welcome 12Ships CMO Irene to share it with us.
Irene: All right. In fact, the M&A of 12Ships just came across the epidemic situation, thus the handover with the original team haven’t been completed. The original team developed a batch of BTC mining machines, but later the operation and maintenance were stopped due to various factors such as the market and the epidemic. Instead, hundreds of independently developed ASIC mining machines CoolDog001 from Vancores (the parent company of 12Ships) were introduced to the Hansando (ecological mining pool of 12Ships) , which supports multi-algorithm parallel mining. More information about this will be shared to the community soon in Chinese.
In addition, we have been developing, testing and deploying a brand new Filecoin mining machine since August in 2020. We have announced some nodes and achieved initial results. We will timely inform you of any further progress. We hope users of the AMA room can join our community. (The Wechat ID of community assistant: Twelveships888)
Qianjie Zhao：I’d like to add something related to the mining machines. At present, the mainstream mining companies in the market have very advanced products. And as mining machine manufacturers, we also admire their achievements. But at the same time, we can also find that in the entire cryptocurrency industry, quite a lot of cryptocurrencies are ASIC dependent, and ASIC chips are needed to support their network operation. In addition to the top cryptocurrencies such as BTC, ETH, there are a lot of mining cryptocurrencies are also need to be supported by ASIC, which means that we have a relatively obvious advantage in non-mainstream cryptos.
Q5: 12Ships has been ploughing more in the Korean market, and now how do you seek supports from Chinese market, so as to attract more attention? What is the marketing strategy of 12Ships in China?
Irene: We also figured out some solutions in advance for entering the Chinese market. Firstly, we will conduct some localized operation, including WeChat, Weibo and other media to create some Chinese communities for the users. The work of this step has been initially completed and we will be able to enter more media platforms. (You can follow our WeChat official account: TwelveshipsCN)
Over the years in the industry, we have also accumulated a lot of first-hand cooperation resources from the media, communities and KOLs. We will gradually import those resources into the Chinese community of 12Ships and make full use of them.
In terms of ecological cooperation, we will introduce more ecological projects related to mining and cooperate with other mining companies and platforms. By doing so, we can provide more benefit to our users.
And the last is that we will develop some new products for TSHP holders. Holders with TSHP can directly participate in the new products. It will be attractive in Chinese market as well as Korean market.
Q6: In the bull market, as many mainstream cryptocurrencies continue to break new highs, the costs of mining machines and hash power have also risen. That means it is also a hard to come by development opportunity for the mining machines industry. So how does 12Ships’ technology driven mining ecological layout proceed?
Qianjie Zhao: Since the launch of the project, 12Ships has taken PoW as the core bottom layer of the project and used the hash power of PoW to support the whole system. This wave of bull market also gave everyone a bonus. But there is a relatively high threshold in the field of mining. Many enterprises want to take their own stands in it, but only a small number of them operating well, because the whole mining field is limited by the capacity of the chips. I believe that many friends of the business have encountered such an embarrassing situation caused by of the lack of chip production capacity. For our part, we’ve committed to 12Ships’ technological capabilities and invested in our technology so that our users can benefit directly from our technology. We will also continue to iterate and do some “tape out” (making chips through a series of process steps) process to expand capacity and gain more hash power by judging the feedback in the market at the right timing.
We do not sell mining machines because many users cannot maintain the machines by themselves, which is not cost-effective for them. Therefore, in order to help our users to prevent a series of issues that might be happened by the complicated operations, our strategy is that we design, develop and produce the mining machines, as well as operate the maintenance. As a result, they can more easily participate in the mining investment.
It’s also called a “hashrate token”, which didn’t exist when the 12Ships project was being built, but it’s now getting around. The liquidity of hashrate tokens is better than that of cloud hash power and we also adhere to this direction. Therefore, after the acquisition of 12Ships, we made some in-depth layout around mining machines. On one hand, we continuously iterated on the research and development of ASIC; on the other hand, we have invested and researched in Filecoin nodes.
In addition, we are continuing our research and development on new products of the mining pool, which can be described as an effective interactive channel to communicate with our users. And users can also check the hash power and revenue anytime and anywhere.
We are also trying to build a public chain, but we don’t put much effort onto it. At present, we only stay in the conceptual stage, because the development of the public chain itself is very difficult. But we do focus on the whole ecological development. We are also developing DApp in response to market changes, and we are going to communicate with users closely when the new products are released.
Q7: The 12Ships team has two visions. One is in mining aspect, and the other is in business. Would you please introduce more about that with us.
Irene: Sure. Our team members have been involved in the field of mining from very early time of this field. On the one side, mining is the most basic support for the entire blockchain industry to move forward. On the other side, mining itself is also an incentive, which means under sufficient financial support and professional team operation, mining can be regarded as a very profitable effect that has the ability to survive from the bear market and gains more profits when the bull market comes. That’s why we will always focus on and stick to the field of mining.
12Ships also wants to commercialize the investment in mining, so that more ordinary investors can participate in our mining field. At present, we will refer to and integrate the existing hash power business models such as tokenized hash power and cloud hash power in our product design and future development plans.
Q8: What are the plans for 12ships in the future? How will you proceed to achieve the two visions that mentioned earlier tonight?
Qianjie Zhao：Well, in any case, we will always insist on mining, and what we do can be roughly divided into the following points of view.
Firstly, we will adhere to our research and development, production and operation of ASIC hardware products.
Secondly, we will concentrate ASIC on non-mainstream cryptocurrencies instead of mainstream cryptos. We will stick to the chip of multi-algorithm integration, which can support more PoW public chains. This is the basis of our core. From this point of view, we will increase POS mining and DeFi, which is what we have to change in order to adapt to the market changes.
Last but not least, 12Ships has been developing in Korea for two years, and has accumulated a lot of users. We also hope to expand the community to the outside market, so that the concept of hashrate tokens can be accepted by more users. In order to the goal that the users will know more about our products, we are also very pleased to work with Gate.io by the means of AMA online. In the future, we will also seek as much cooperation as we can, so that the tokens can be introduced to more individuals, and users can more easily participate in mining as well as enjoy the benefits.
12Ships is a cryptocurrency-mining backed blockchain platform that makes your journey to blockchain investment AS EASY AS POSSIBLE by providing profitable and high-performance mining infrastructure. 12Ships is focusing on technology-driven development of a mining ecosystem including ASIC mining machines, Filecoin mining machines, mining pool, and public chain.