Yifan He is a Chinese technology executive and entrepreneur, best known as the founder and CEO of Red Date Technology. He is a central figure in the development of China's state-sanctioned blockchain infrastructure, the Blockchain-based Service Network (BSN), and advocates for separating blockchain technology from cryptocurrency speculation to align with national regulations. [1]
Yifan began his higher education at Northwestern Polytechnical University, where he graduated in 1996 with a degree in International Business, Trade, and Commerce. He later moved to the United States for further studies, earning a Bachelor's degree in Computer Science from Stony Brook University in 2002. He completed his formal education at the MIT Sloan School of Management, from which he received a Master of Business Administration (MBA) in 2005. [8]
Yifan began his career in finance and investment, taking on senior roles in Beijing. From 2006 to 2008, he was managing director at M1 Capital Group, followed by a similar role at Sureland Capital from 2008 to 2011, where he focused on capital management and investment strategies. He then served as managing partner at Kunlun Guotai Capital from 2011 to 2014, overseeing private equity and venture capital activities.
In 2014, He founded Red Date Technology and has since served as its CEO. His work has centered on developing blockchain infrastructure that aligns with China’s regulatory environment, particularly by separating blockchain technology from cryptocurrency speculation. At Red Date, he has collaborated with government bodies and telecommunications companies to build large-scale, compliant systems to support enterprise and public-sector adoption. This approach positioned him as a key figure in China’s efforts to advance blockchain technology within regulatory boundaries. [2] [9]
On the Alpha Un# Podcast in October 2025, Yifan discussed the Blockchain Service Network (BSN) in an interview, detailing its development and use in China, particularly in the absence of a legal cryptocurrency infrastructure. He explained how the BSN combines various permissioned blockchain technologies, enabling applications primarily focused on enterprise needs rather than on cryptocurrency. The BSN's design adheres to Chinese regulations and enables businesses to deploy smart contracts with a unique user registration process. He highlighted the integration of a decentralized identity (DID) system to enhance privacy and facilitate KYC processes. The discussion also explored the potential for China to lift its ban on cryptocurrency trading, suggesting that the existing financial infrastructure could easily transition into a regulated crypto environment. He posited a 50% chance that this might happen, influenced by global trends and the need to adapt to emerging financial technologies. [3]
On the A Digital Tomorrow podcast with Dr. Oriol Caudevilla in January 2023, Yifan discussed the recent launch of the Universal Digital Payments Network (UDPN) at the World Economic Forum in Davos, Switzerland. He explained that UDPN aims to create a global financial infrastructure for digital currencies, connecting them to commercial banks and various IT systems to enable efficient, widespread digital transactions. Emphasizing its purpose, he stated that the infrastructure would support the anticipated growth of digital currencies, enabling seamless integration across platforms while ensuring that commercial banks continue to play a vital role in providing services to individuals and businesses. He also clarified that UDPN is distinct from China's Blockchain Service Network (BSN), which focuses on decentralized technologies and the promotion of blockchain in various industries, regardless of cryptocurrency applications. Throughout the conversation, he emphasized the importance of developing practical applications and conducting experiments to advance understanding and the implementation of digital currencies and their infrastructure. [5]
In a presentation at JUMPSTARTER in December 2023, Yifan discussed China's leadership in blockchain technology. He emphasized the importance of understanding blockchain as a means of enhancing communication efficiency, likening it to the evolution from traditional phone calls to conference calls. He explained that blockchain enables decentralized communication among systems, dramatically improving productivity by facilitating direct data exchange without intermediaries. He noted China's top-down approach to blockchain development, highlighted by infrastructure projects like the Blockchain-based Service Network (BSN) and the ongoing development of Central Bank Digital Currencies (CBDCs) and decentralized identity (DID) systems. He underscored the significance of pioneering use cases, such as CBDC payments and user verification, in demonstrating the utility of blockchain technology and asserted that China's initiatives positioned it at the forefront of global blockchain efforts. [4]
At the AIBC Asia Conference in July 2024, Yifan discussed the importance of Central Bank Digital Currencies (CBDCs) and their potential to enhance transaction efficiency. He highlighted two main trends in digital currencies: digital assets, such as cryptocurrencies, traded on public exchanges, and regulated digital currencies used for payments in centralized environments. Yan explained that the evolution of money forms has historically aimed to improve circulation efficiency, making faster transactions crucial for economic progress. He noted that approximately 130 countries are researching CBDCs, and several major banks are exploring their own digital currency solutions. Yan ranked various digital currency categories by effectiveness, concluding that wholesale settlement tokens are the most beneficial due to their potential to streamline cross-border payments and significantly improve liquidity management. At the same time, retail CBDCs are less practical than existing systems, such as cash. He introduced the concept of Universal Digital Payments, a project aimed at connecting various digital currency wallets. He mentioned the ongoing testing with multiple central banks to ensure the viability of different digital currency models before their full implementation. [7]
At the BSN Spartan Global Summit in September 2022, Yifan presented an introduction to the BSN Spartan Network, highlighting it as a decentralized cloud services platform rather than a traditional blockchain project. The initiative was launched after three months of collaboration among various teams, which involved significant dedication, including late-night work by about forty team members. He discussed how the Spartan Network aimed to eliminate reliance on cryptocurrencies, instead using non-cryptocurrency public chains to provide a more accessible and stable cloud service for businesses, particularly outside mainland China. He emphasized the importance of decentralization and transparency, detailing the network's governance structure, which involves multiple stakeholders voting on key decisions, and outlining the security mechanisms in place to protect users' data. Additionally, he highlighted the project's innovative nature and its long-term vision to transform IT systems into public infrastructure that empowers users. The Spartan Network was officially launched at the summit, with a focus on building a robust, transparent, and user-friendly decentralized environment for developers and businesses. [6]