In the rapidly evolving digital era, few figures have bridged the gap between early internet entrepreneurship and next-generation blockchain innovation as seamlessly as Cai Wensheng, Chairman of Meitu and renowned angel investor. Known as the “Domain King” for his pioneering work in domain trading and grassroots web development, Cai has transitioned into one of the most influential voices in blockchain investment.
This deep dive explores Cai Wensheng’s vision on how blockchain will reshape the internet landscape over the next three years, drawing from his extensive experience in tech investing, startup mentorship, and digital transformation.
The Genesis of a Digital Pioneer
Cai Wensheng’s journey began not with code, but with domains. In the early 2000s, he capitalized on low-cost domain registration to build a portfolio that included now-iconic names like uc.cn, t.cn (Weibo), and g.cn (Google China). But beyond profit, his true legacy was fostering community.
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In 2005, he organized the first China Webmaster Conference in Xiamen—an event widely credited with catalyzing China’s grassroots internet movement. By bringing together future titans like Lei Jun, Zhou Hongyi, and Wang Xing, Cai created a platform where ideas could converge, setting a precedent for collaborative innovation.
“I saw that many individual website creators needed access to capital and mentorship. That’s why I started the conference—to connect talent with opportunity.”
His own ventures followed this ethos. 265.com, a simple URL directory, was acquired by Google. 4399, a casual gaming portal, became one of China’s largest online game platforms. And Meitu, launched in 2008, now boasts over 450 million monthly active users worldwide.
These weren’t tech-heavy startups—but they solved real, widespread needs with intuitive design and smart distribution.
From Internet Foundations to Blockchain Frontiers
While many view blockchain as a speculative trend, Cai sees it as the next logical evolution of the internet—a shift from information transfer to value transfer.
“Blockchain is not just technology; it's a重构 of business logic.”
This belief led him to co-found the influential ‘3 o’clock Blockchain Sleepless Group’ during Chinese New Year 2018—a WeChat group that ignited national interest in cryptocurrency and decentralized systems.
But unlike others who jumped in for hype, Cai approached blockchain with a methodical mindset:
- Learn from the best: Just as he studied top webmasters in the 2000s, he quickly connected with leading blockchain investors like Wu Jilian and Li Xiaolai.
- Filter noise with principles: He introduced “Three Rules” to keep discussions meaningful—no spamming, no blind praise, and rotating moderators.
- Bridge communities: He invited traditional VCs like Neil Shen and Yan Yan into the group, merging established investment wisdom with emerging tech insight.
His goal? To ensure blockchain wasn’t reduced to a bubble, but recognized as a transformative force.
Debunking Myths: ICOs, Tokens, and Real Value
One of the most misunderstood aspects of blockchain is ICO (Initial Coin Offering). Many equate launching a token with fundraising—but Cai clarifies:
“Not all blockchain projects need an ICO. Bitcoin had no ICO. Ethereum did—because Vitalik needed funds. If you already have resources, you don’t need to raise publicly.”
This distinction is critical. Projects like BEC (BeautyChain)—often misattributed to Meitu—were independent initiatives. Despite controversy around its concentrated token distribution and eventual security breach, Cai emphasizes transparency:
- BEC was never a Meitu product.
- No public funds were raised.
- The team chose anonymity because they weren’t seeking investment.
- When hacked due to an ERC-20 smart contract flaw, the foundation rolled back transactions and compensated users fully.
“Security is paramount. One bug can undermine trust. But lessons learned benefit the entire industry.”
Cai also stresses that token ≠ blockchain. While tokens enable new incentive models (e.g., rewarding content creators via crypto), blockchain’s utility extends far beyond speculation:
- Banks use private chains for secure settlements.
- Stock exchanges adopt DLT for faster clearing.
- Supply chains track goods immutably.
“Yes, blockchain can exist without tokens—especially in enterprise applications. But for open, decentralized ecosystems, tokens unlock powerful network effects.”
Core Keywords in Focus
The article naturally integrates these core keywords:
- Blockchain technology
- Internet companies
- Token economy
- Decentralized systems
- Cryptocurrency investment
- Smart contracts
- Digital transformation
- Future of web3
Each appears contextually across sections, reinforcing SEO relevance without compromising readability.
FAQ: Addressing Common Questions
Q: Is every internet company really going to adopt blockchain?
A: Within three years, most will experiment with it—especially in areas like identity verification, data integrity, and user incentives. Full integration depends on use case viability.
Q: Can blockchain projects succeed without raising funds through ICOs?
A: Absolutely. Established companies with capital and talent can launch tokens without public sales—focusing instead on utility and adoption.
Q: Was BEC (BeautyChain) a scam?
A: No evidence supports this. It raised zero funds publicly, distributed tokens via airdrops and app engagement, and compensated users after a hack. Its failure stemmed from technical flaws—not malicious intent.
Q: How does Cai Wensheng evaluate blockchain investments?
A: He looks for strong teams, real-world applicability, and long-term vision—not just short-term price pumps. As he says: “Only projects that serve many people create lasting value.”
Q: What’s the difference between investing and speculating in crypto?
A: Investors buy believing in long-term potential—even if prices drop. Speculators panic when markets fall. True conviction comes from research and understanding.
Q: Can AI and blockchain coexist?
A: Yes—and they should. AI processes data; blockchain secures it. Together, they form a powerful foundation for trustworthy automation and decentralized intelligence.
The Road Ahead: Integration Over Disruption
Cai doesn’t see blockchain replacing the internet—it’s merging with it.
“In three years, we won’t ask ‘Is this a blockchain company?’ We’ll just see smarter, more transparent services powered by distributed ledgers.”
Examples already emerging:
- Gaming platforms using NFTs for true digital ownership.
- Social apps rewarding users with tokens for content creation.
- Enterprise tools leveraging smart contracts for automated workflows.
For entrepreneurs, the takeaway is clear: Technology must serve people—not just trends.
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Even Meitu explored this path with Beike Wallet, a blockchain wallet integrated with its overseas app BeautyPlus—though partnership challenges led to its pause.
Still, the direction remains unchanged: digital ownership, user empowerment, and trustless systems are the pillars of what comes next.
A Philosophy of Continuous Evolution
What sets Cai apart isn’t just his track record—it’s his mindset.
He rejects rigid investment rules. Instead, his approach rests on three pillars:
- Ignore conventional boundaries – Don’t box yourself into “internet” or “blockchain.”
- Embrace change rapidly – Stay curious, learn fast, adapt faster.
- Serve more people – Scalable impact defines sustainable success.
And while critics label him a “quick-money”福建商帮 (Fujian businessman), his biggest wins—58.com, Meitu, domain investing—took over a decade to mature.
“Real returns come from patience—not hype.”
Even in blockchain’s bear markets, he sees opportunity: a chance for genuine builders to rise while speculators fade.
Final Thoughts: Building With Purpose
Cai Wensheng’s ultimate vision transcends profit.
He dreams of a world where technology enables freedom—not control. Where individuals aren’t cogs in centralized machines, but active participants in open ecosystems.
“I hope future generations can pursue what they love—not just what pays the bills.”
Whether through AI, blockchain, or yet-uninvented breakthroughs, his message endures: Stay young in spirit. Keep learning. Build things that matter.
As he puts it:
“People may call me a businessman. But I’m just someone who believes in progress—and wants to help others move forward too.”
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