We thought about this, long and hard. What could be added to the industry to refine it? The answer was trivial and long. Here’s a loveletter to the makers of this tech, let’s see if you can help in sharing this with them. By building a reach, that is unprecedented.
Creme De La Creme
Blockchain based startups are on the rise, however, the industry needs to filter out the kind of startups it is producing. This will make blockchain – the underlying technology more reliable. No fooling. No nasty business. Only people who really mean pure business should be let in.
Blockchain is a game changing technology for startups. Startup culture is deemed as hip, exciting and has become super hot. The ecosystem has developed its own norms, trends and models. Using cryptocurrency as funds, featuring crypto-based products and even crypto-related services are one of them. However, crypto-startups prop up at a rapid speed, with no filter whatsoever.
The ginormous amounts of paperwork and pre-requisites needed to legally launch a startup create a barrier between the scamming businesses and the faulty models. This means any fiat currency and traditional banking based startup will be at least competitive in terms of its principles. No lose ends, no lose morals. However, this is not true for blockchain ones, they need regulation and better yet, some sifting. This will bring out a creme de la creme.
Tone Down Social Media Scandals
Blockchain technology gives startups the sense of superiority and an ego inflation that leads them to thinking they are invincible and the most highest form of themselves. They begin to think that it does not get better than their product.
The public however, continues to give them reality checks and takes their words on in an attack, any chance it gets. This makes the whole industry a brag-mouth. The scandals are blown up on social media. Like any business in the global age, social media is the biggest war front that startups know there is. The attacking and defending becomes too heated, traditional press gets involved and things get even more messy, as people and pressure groups or sometimes other organisations take notice.
Low profiles are good profiles. This means that startups should stay hush, if they are to be seen any better than others. Outrageous claims make them look bad. Things get ugly, debacle is what they find themselves trapped in, value and market prices fall.
Make Better Interfaces
What really put Microsoft Windows on the map for future business giants was there up-gradation from command-line user interface to the graphical one. Blockchain is somewhere ahead of the command line but the graphical user interfaces make it look too technical and absurd to the new adapters. The simpler it will get, the better it will be responded to. Today’s user interfaces will be redundant useless tomorrow.
Better Interfaces, better gaming, better money transfers, ease and beauty will help it gain the popularity it needs to actually fulfill the promises its developers make on TED talks and TechCons.
Make it less Radical
Many people in the industry of blockchain and crypto are motivated to apply the innovation in constructive, pragmatic ways . They are building businesses to improve lives. People within this community exist, who are motivated by ideology and politics behind the technology. Crypto is a religion to them.
The problem is that they spread misinformation about any technology including blockchain and others, whatever helps them promote their so called religion. These people carry a great deal of influence in the industry and with press. This makes the audience highly vulnerable to the discourse available. Making them and other rely on false information at times.
This calls for a regulation and accountability organisation that clears of any pollution in the tech spheres.