BlockchainSpotlight

Rene Pickhardt Proposes an Important Question to Inspect a Blockchain Startup

Rene Pickhardt is a data science, data analytics and machine learning consultant in Koblenz, Germany. He had been leading the front end for Pirate Party Germany, a German political party founded in 2006, in the 2017 federal election. Besides this, he is a member of Wikimedia Deutschland and Serlo Education. Apart from this, he is also a member of Verdi, a German trade union founded in 2001, and Alliance Free Education. More importantly, he is Bitcoin (BTC) and Lightning Network enthusiast as well.

Recently, Rene set the criteria for evaluating an idea, that used a blockchain solution, by associating the use of a time stamping server with that idea. He was approached by BlockPublisher to acquire his expertise on assessing a blockchain startup. He replied by posing a question to determine if the blockchain based startup was worthy in the first place or not. He said:

If I were to invest in “blockchain” companies (which I am not) and they wanted to build some “crazy stuff to rescue the world” I would always ask the question “How would a time stamp server help to solve the issue you have?” if they stumble I would move on to the next team.

Later, he was requested to explain how this question, while eliminating unworthy startups, safeguarded the valuable startups. Rene responded to the inquiry with his thoughts and explained:

As with any other heuristic I can’t. But to me it looks like the expectation value of this heuristic should be pretty high. If a startup or a company wants to be a tech startup they should understand the tech.

People hold various thoughts when it comes to the blockchain. Some consider it to be innovative while others argue that it doesn’t provide a plethora of use cases. Under these circumstances, Rene’s suggestion aims to clarify the integrity of blockchain by examining and then deciding if blockchain is appropriately used in the solution or not.

Fatir Malik

Electrical engineer by profession, turned into blockchain developer. Fatir contributes regularly with his insights about latest developments in fintech sector. Contact the editor at editor.opinions@blockpublisher.com

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