Dialogue Jefray Ding : Geek teenager and his digital thinking

At just 17 years old, Jefray Ding has designed a smart contract wallet and authored several analytical reports on NFTs and decentralized gaming. As Finaura develops, he has gained widespread attention and recognition in the industry. People are not only curious about how someone so young possesses such innovative thinking and insight beyond his years in the blockchain field but also look forward to the future of technology. In this interview, Jefray shares his unique perspectives on new technologies, his project management approach, and his boundless expectations for the future.

The Journey of a Young Developer

ChainDD: Jefray, you’re so young yet have made deep explorations in the crypto field and launched a smart contract wallet project. Can you share how you embarked on this journey?

Jefray Ding: My journey in the tech field stems from curiosity. I've been fascinated with computers since childhood. When I was seven, my father bought me my first iPhone—the iPhone 5s—and encouraged me to try out new electronic devices, never opposing my playing video games. At that time, I didn't even understand how games worked, but gradually, I shifted from enjoying games to researching the reasons behind their success, which sparked my desire to create games and applications myself.

During middle school, I spent a lot of time playing video games and learning programming. After getting bored with a game, I discovered how to sell my high-ranking game accounts. That’s when I realized I wasn’t just “playing” with technology—I was using it as a tool, and I could even profit from it.

I became aware of the extent of control that Web2 giants had over us. They declared in their user agreements that all our digital data and accounts belonged to their companies, not to us as personal property. I found this incredibly unfair, as we were their profit source and contributed to the platforms, yet had no basic rights over our records.

I also realized how unsafe and inefficient it was to trade accounts in Web2. Many sellers could simply use the “forgot password” feature to regain their accounts after selling them. To prevent this, buyers often had to pay a substantial insurance fee to the trading platform. Moreover, the trading process was both expensive and time-consuming, often requiring an agent from the trading platform to transfer ownership—changing the account's password, phone number, and email to the buyer's information. This typically cost 5-7% of the total transaction and could take hours or even days to complete.

In late high school, I learned that blockchain emphasizes decentralization and grants personal ownership, and I fell in love with its ideals. Although there weren’t many blockchain games or social media platforms at the time, I was curious about how people could sell or rent their accounts—in this case, their wallets acted like accounts. I discovered that, due to the non-transferability of wallets, this was impossible at the time.

It wasn't until I saw how multi-signature smart contract wallets (team/shared wallets) changed the technological structure of crypto wallets, allowing you to add and remove signers from the wallet, that I realized transferring ownership of personal wallets was also possible. Not only that, but blockchain protocols and smart contract wallets eliminated previous security concerns, making such transactions seamless.

Entering Web3 and Understanding the Industry

ChainDD: As a new generation talent in Web3, can you share how you first came into contact with Web3? What is your understanding of this industry?

Jefray Ding: I first encountered Web3 at the age of 14. At that time, blockchain had already garnered a lot of attention, especially with the NFT craze—this was where I started. I invested in NFTs using the earnings I made from gaming, including projects like Doodles, NFT Worlds (now known as Hytopia), and Mfers. The enthusiasm of the community quickly reflected in the prices of these projects, and I made a considerable profit from it.

After attending several events at the first NFT festival in New York City, I was drawn in by the community and became convinced of its potential. Later, I began writing reports and analyses for NFT projects, the most notable being my evaluation and future predictions of Yuga Labs’ NFT projects and the GameFi “Otherdeed for Otherside.” This assessment was adopted by several DAO communities, giving me some initial recognition within the community.

During this time, I also tried crypto trading using leverage and options on OKEx and Binance. While I saw some gains in the short term, I experienced more losses in the long run. After this setback, I received advice from a family friend in the crypto field, who told me that the only way to gain stable income was to build an original, long-term project. That’s when I began constructing Finaura.

My understanding of this industry is simple: blockchain technology is not just a financial tool—it is a new way to build trust and collaboration, allowing people to exchange value and data without intermediaries. Web3 is the future of the internet because it gives us more autonomy, freeing us from dependency on large tech companies. To me, the true beauty of Web3 lies in its ability to break monopolies, making users participants and beneficiaries rather than just products.

Tackling Challenges with Wisdom and Perseverance

Interviewer: What challenges did you encounter while developing these projects, and how did you overcome them?

Jefray Ding: The biggest challenge was undoubtedly gaining initial recognition and credibility for Finaura. In the early stages, I pitched my white paper and PPT to numerous DAOs and Chinese blockchain companies. Most of them lacked confidence in me. I still clearly remember someone commenting, “Many people have ideas, but only a few work hard to materialize them. Are you just selling us your vague concept?”

Hearing this made me realize that I needed to turn my ideas into tangible products. I dedicated myself to truly building the project, starting with designing the user interface. After completing some designs and initial coding, I realized I couldn’t finish the project alone. I needed to showcase my ideas to more people in hopes of finding those who genuinely appreciated and supported it.

When I presented my work, I faced new challenges: “If this idea is really so good, why haven’t any large companies pursued it? Currently, there aren’t many blockchain games or social media platforms that align with your vision.” I explained that, as a native of the gaming and social media community, I had unique insights. There are billions of Instagram users, yet many people—even some of my friends—don’t know you can actually sell your account, despite a significant market existing for it.

This response led to an even trickier question: “It seems the unique value of your project hinges on the assumption that popular games and social media platforms will emerge on the blockchain, along with a bright future for NFTs. What if that doesn’t happen?” I replied that I was a firm believer in Web3. I had witnessed many groups dedicated to benefiting the community inventing applications. Like all Web3 enthusiasts, we should believe that the decentralized future is bright, as it will return value and rights to individuals.

I continued, “If a large market already existed, how would my project stand out? More importantly, what does this have to do with someone like me, a high school student? My product has value only through intuition, a firm belief in the future, dedication, and a willingness to take risks in the face of failure.”

These qualities were crucial for making Finaura a reality. After this realization, I received full support from various DAO communities, such as Algen DAO and Pollens Lab, and partnered with Zapry to put together the last piece of the puzzle for Finaura's realization. Now, Finaura has become the first project focused on application-driven wallet ownership exchange and free NFT leasing, distinct from other projects.

Embracing Technological Advancements: How Finaura Became Possible

ChainDD: How has the advancement of Ethereum technology influenced the development of Finaura, and what role did patience play in overcoming technical challenges?

Jefray Ding: Patience was crucial for turning Finaura into reality. I conceived this idea back in 2022, but at that time, neither I nor the team I could assemble could complete a full solution. The technology wasn't mature enough. I had to wait for new Ethereum standard protocols and developments within the community.

The release and widespread adoption of ERC-4337 was a game-changing moment. This new Ethereum standard introduced account abstraction, which was vital for realizing the functionalities I envisioned for Finaura. With ERC-4337, we could build smart contract wallets that previously impossible features. These advancements became possible precisely because we patiently awaited the right technological breakthroughs.

Why Choose a Decentralized Smart Contract Wallet? Finaura’s Unique Advantages

ChainDD: There are many exciting innovations in the fintech sector. Can you share your vision and core values with us?

Jefray Ding: The philosophy behind Finaura is simple: decentralization is the future of digital asset management. Currently, most assets are stored on centralized platforms, game statistics are kept on centralized servers, and social media platforms are controlled by centralized entities. This dependency greatly limits users' autonomy and control over their own data.

Finaura’s core vision is to grant users true ownership of their digital assets while providing a more efficient and convenient management experience than traditional centralized platforms. Our goal is to return control to users by eliminating intermediaries, thus empowering individuals.

We’ve built a multifunctional ecosystem where users no longer need multiple applications to manage their assets. On Finaura, they can handle everything in one platform—from token transfers and NFT transactions to participating in decentralized lending protocols. We also support seamless integration with major NFT platforms, SocialFi applications, and blockchain games, offering single sign-on (SSO) functionality. This allows users to manage their Web3 identity across various platforms without repeated verification, simplifying the entire user experience.

I’m particularly proud of our non-collateralized NFT leasing feature. In traditional NFT markets, renting high-value NFTs typically requires substantial collateral, which isn’t realistic for many users. Finaura addresses this issue through smart contracts, allowing users to rent NFTs without needing collateral. Once the rental period ends, the assets automatically return to the original owner, ensuring accessibility and security. This lowers the participation threshold, making the use and circulation of NFTs much more widespread.

Beyond technological breakthroughs, I’ve also invested significant effort in UI (user interface) and UX (user experience) design. It took me five months to create the first complete design using Figma. I noticed that many wallets focus solely on their technical capabilities, often neglecting the interface and user flow due to the time-consuming design process. I believe that user experience, especially for those new to blockchain, is as important as any technology in the wallet. A user-friendly interface can significantly enhance adoption, making the decentralized world more accessible to everyone.

ChainDD: University entrepreneurs have always been key players in the blockchain industry. Projects like CertiK, founded by professors from Columbia University and Yale University, and IOTA, created by professors from UC Berkeley, are well-known. Do you plan to continue your education?

Jefray Ding: I have great respect for these academic entrepreneurs. They not only have a solid theoretical foundation but also have the ability to translate academic research into real-world innovations. I do plan to pursue further studies to help advance my project, especially in areas like marketing and management. I recognize that I lack certain skills in project management and marketing, which sometimes makes it challenging for me to effectively explain and present my project to audiences.

Moreover, I firmly believe that higher education is not just about acquiring knowledge—it’s about broadening one’s horizons and connecting with outstanding talent and ideas. Through in-depth learning, I hope to better integrate theory with practice, laying a solid foundation for future technological innovation. I’m eager to learn from experts in the field and collaborate with like-minded peers. Such ongoing education will not only enhance my personal growth but also contribute to the success and impact of Finaura.

ChainDD: We know that many families are actually very resistant or cautious about their children playing games and engaging in trading in the crypto space, but it seems your family is an exception?

Jefray Ding: I truly appreciate my family's open-minded approach to parenting. They never restrict me; they simply guide me. They support me in any exploration I want to undertake and never forcefully shape my interests. They give me the freedom to develop my interests and find my true self. In this rapidly changing era, parents should really consider providing their children with choices rather than directing them on which path to take.