Xiao Sa: Can the left-behind IT team survive when Web3 goes south to "catch gold"?

introduction

Sister Sa is no stranger to Singapore and Hong Kong, and she is even very familiar with her. There are relatives, teachers and friends of mine respectively. In this wave of Web3.0 operations, the two sides are somewhat confronted. It seems to be lively and lively for a while, but when you calm down, marketing is overseas, sales are overseas, old money and new money are overseas, but programmers are still "staying" in the mainland. After receiving overseas N customers and prospective customers, some common problems were abstracted, and I would like to say a few words here.

01 Why? Mainland IT team, high quality and low price

Demographic dividend and talent bonus are two different things, it is true that IT talents are indeed abundant in Mainland China. The characteristics of domestic programmers are "willing to work overtime", "more obedient" and "good quality and low price". At present, there are more technical men in the cities where science and engineering colleges gather together and in the Greater Bay Area. The average per capita is 211 and 985 masters. In the tide of the Internet, some "graduated" from large factories, and some were tricked by classmates to form a group to start a business. In short, looking around, our scientific and technological talent pool is gratifying.

With the rise of Web3.0 and AI, a new wave of entrepreneurship is undercurrent. They call themselves "Jews in the encrypted world". To start a new business, however, we found that those few souls who really went to Singapore and Hong Kong, that is, the more active members of the team, *A large number of technical friends still stay in the mainland to live and work for various considerations *.

Except for the programmers in Beijing who are very concerned about the "five insurances and one housing fund" (probably because they are earning points for their children's schooling), the programmers in other first-tier and second-tier cities are more open-minded and are basically willing to accept Token payment. It is illegal to pay wages in virtual currency. We remind everyone that wages should still be paid in legal currency**. But it seems that everyone's mentality is relatively stable, that is, more and more people ask whether they can collect coins in private.

02 Stay behind the technical team, compliance is a problem

Although we call it a "technical team", in fact, it is rare for a government to directly set up a wholly foreign-owned enterprise** in the mainland. Currently, only one company has established a WOFE in the mainland. zero" status**.

It is actually a good choice to establish a legal wholly foreign-owned company and enjoy the treatment of an industrial park in a second-tier city. For web3.0 projects whose overseas business is relatively compliant, you can directly copy the homework.

If it is "doing private work", there are quite a lot of legal risks, especially the "Criminal Law Amendment Twelve (Draft)" expands the crime of breach of trust originally reserved for state-owned companies and enterprise insiders to general companies , enterprises, which leads to the relevant behavior of individuals who "do private work" may constitute the crime of illegally operating similar businesses in Article 165 of the Criminal Law. The so-called crime of illegally operating similar businesses, after the "Criminal Law Amendment Twelve (Draft)" came into force, refers to the directors and managers of companies and enterprises taking advantage of their positions to operate or operate for others the same type of business as the company or enterprise they work for, The act of obtaining illegal benefits and a huge amount. Therefore, if the "private work" done by an individual belongs to the same kind of business as the company or enterprise he originally worked for, and he uses it to seek illegal benefits, then it is a crime of illegally operating the same kind of business**. Although this article requires that you must be a director or manager of a company or an enterprise, there is room for interpretation of the word "manager", so please pay attention to risks.

If you want to help overseas Web3 companies do things in your own name, you should pay attention to your own risks: whether you are doing low-level technology or knowing the whole picture of the "turnkey project", the former is subjectively right I don’t know much about what the overseas company is doing, so the risk is relatively small. Please keep the evidence that you don’t know the whole picture for emergencies (sometimes, there may be a risk of crime of helping others). If it is a turnkey project, then you must Have a full understanding of the project you are working on, and you cannot "leave a back door". If there is a back door in the current handling of the case, which may lead to economic losses for the user, it is more likely to be treated as an accomplice to the crime of fraud.

03 **Singapore or Hong Kong? **

To be honest, the Greater Bay Area is a good choice, with a better legal environment and a strong business atmosphere. It is not necessary to drag the family and move to the "small place" (although Singapore has relatives and friends, there are also many old friends in the circle, but the heart is too small, I went to the National Museum for seven days, and I was crazy), Hong Kong Slightly larger, overall good, but the low air pressure and the perennial absence of the sun make the northerners tear up.

In addition to the Greater Bay Area, the mainland can also choose Dalian, Nanjing, Shanghai, Beijing and other places. In other words, it is right to find a place where top science and engineering colleges gather together.

From the perspective of criminal law, the Basic Law of Hong Kong excludes the application of mainland criminal law, and Hong Kong is superior to Singapore in this respect. Just remember the conclusion, Sister Sa will not explain in detail. Of course, when choosing which country or region to take root, one must also consider the country's and local policy environment and legal environment. In terms of resolving commercial legal disputes, the international arbitrations in Singapore and Hong Kong are world-renowned, and colleagues in our law firm often travel to and from the two places to resolve disputes. No matter where the company is located, remember to write the dispute resolution location in Hong Kong or Singapore in the contract. The entire dispute resolution process is confidential and fast. The disadvantage is that it is expensive (think about the prices and housing prices in the two places, it is indeed expensive ).

04 Data export issues

As more and more Chinese people go overseas to develop business, many people still want to give full play to China's technological advantages and personnel advantages. Friends always come to ask if it is possible to use the credit information of mainlanders overseas. These are sensitive information, and everyone should be sensitive, and they cannot start a business with a slap in the face.

Overseas, really earn money from foreigners. Don't always think about taking resources and personal information from China, and then going overseas to spend money in places where there is no legal restriction. This kind of thinking is shrewd but unwise. All major countries in the world attach great importance to data security. In different legal areas, there may be strong protection for privacy and strict requirements for economically applicable data on the platform. It is really dangerous to innovate by taking advantage of legal loopholes in an unfamiliar country on your own. Web3.0's invasion of the original financial system, especially the country's minting rights, is obvious to all, and international organizations have also denied non-sovereign currencies from the side.

As far as the current methods offered by friends to take advantage of China’s “big market”, as long as they are the right way, we are still willing to support them, such as servers in China, serving Chinese companies and individuals, paying taxes for fees, and taking profits, no problem. But if the data were to be sent overseas, it would be subject to intense scrutiny. Conversely, if the server is overseas and serves global customers including China, it depends on the laws of the country where the server is located. This is why we always ask customers where they want to deploy the server and in which countries they want to conduct business , In this way, the questions are packaged, and the legal issues are abstracted and sent to our colleagues in various offices around the world, and the answers are collected within the specified time, which is convenient for customers to screen and make decisions.

The conclusion is that in mainstream countries, the export of data is seriously concerned, and it is not easy to use other people's data. Sister Sa’s solution is to consider privacy computing, but I heard from techies that the current privacy computing technology can still be restored to specific people themselves. If this is the case, then there is no solution to this problem.

Written at the end

Mainland China is undergoing vigorous digital transformation. In fact, many technical teams can set up their own companies to serve the digital transformation of central enterprises + state-owned enterprises + private enterprises in the mainland. There is no need to limit yourself to a certain obsession or idea. The market in mainland China has a lot to offer. Both hands must grasp the law, and both hands must comply. **