Canadian - Businessman | -
The blockchain applications market is unravelling along a segmentation of activity that is spread along two sets of variables: private vs. public blockchains, and new vs. existing business models.
William Mougayar
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Public blockchains are almost like the public Internet, which is open and widely accessible. If you can get on the Internet, you will likely be able to get on a public blockchain via a specific application.
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Few incumbents will succeed in deploying blockchain applications to enable new business models. The innovator's dilemma will prevail. Even if they aspire to, they must first get their feet wet within their business boundaries.
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The blockchain start-ups that have done ICOs are just at the beginning of something. Ask me how they are doing in a year or two years from now. I know for a fact it won't be any different from the statistics of all start-ups: 80% of them will not make it.
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Crowdsourced funding via cryptocurrencies is a viable practice. A lot of good ideas and innovative companies are coming out of it. This segment is creating thousands of jobs and companies all over the world.
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Cryptocurrencies are not evil and are not for money launderers and scammers. They are for entrepreneurs, technologists, change-the-world dreamers, and anyone who believes they can (and will) enable new business models, new types of organizations, and new ways to service consumers and businesses alike.
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In the increasingly digital world, data is a valuable currency, yet as consumers, we control and own little of it. As consumers, we must ask what big companies do with our data, a question directed to both the online and traditional ones.
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An aftermath of real failures can make the whole blockchain ecosystem more resilient because it will result in revealing the boundaries and realities of what's possible, useful, absurd, impossible, repeatable, and scalable out of everything that appears plausible and innovative at the beginning.
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What Bitcoin started is metamorphosing into something bigger: a 'crypto-tech'-driven economy with its own value creation, not unlike the Web's own economy. Welcome to the cryptoconomy.
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As we prepare to enter the cryptoconomy, undoubtedly it looks fuzzy, foggy, risky, buggy, uncertain and unproven, but so did the Internet in 1995.
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A token is not a short term carrot, nor a stick for that matter. Just having a token doesn't mean that you have a working business model attached with it.
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If your user base engagement is fledgeling, a token may not be the panacea unless it is properly threaded into the product, and user behavior is accompanying the token utility.
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