tl;dr: Innovation is difficult, scary, and exciting. Being part of a team that is exploring the unknown together is something special. And it’s happening all over the cryptoverse.
Every Tuesday at 12 pm EST, a group of people who are part of the GenesisDAO, the first decentralized autonomous organization built on the DAOstack platform (advisor) get together to discuss a project I am leading.
How to Create Your Own Cryptocurrency and Make Your Business Ready For The Future | Data Driven…
How does cryptocurrency work? How to make a cryptocurrency? How to launch my cryptocurrency? All these questions must…
We have clearly identified a need among existing decentralized projects from a marketing perspective.
They have to track and measure the effectiveness of their marketing efforts without compromising or gathering personally identifiable information.
The last thing these entities want to be is siloed data aggregators like Facebook, Google, or Amazon.
This problem is not easy to solve, but we are honing in on the first flowering of a solution that will (hopefully) be a crypto-native business.
A crypto-native business is a for-profit entity that would be impossible without the existence of a functioning blockchain as part of its core infrastructure.
Crypto-Business Considerations and Constraints
Starting a Crypto-Business is not like starting a regular business, particularly when you throw in the constraints.
For example, we are trying to simultaneously:
- try and run this business as a DAO
- give individuals and organizations the opportunity to participate in this for-profit venture without running afoul of the SEC and existing securities laws
- make it sustainable and viable over the long haul, given that all of the software will be open-source
- accept most major crypto-tokens as payment, while not exposing the DAO itself to excessive degrees of risk
- allow it to be self-governing in a scalable way
- allow for members to remain anonymous, but vetted based on their Reputation
- raise funds without having the costs or hassles associated with KYC requirements
As you can see, this is far from the charted territory.
It is most clearly, “uncharted territory.”
A Small Group of Dedicated Believers
“let’s just take a moment and appreciate how special this group is. There are so few people on the planet who could even follow this conversation, let alone participate in it.
Yet, at some point in the future, all of these questions will be answered and the crypto-businesses will be commonplace.
Partly, because of the work, we are doing here.”
What so excited me on the call was the passion and dedication of the 9 folks from multiple countries who were contributing, with the hope of value and profit, but no guarantees. It is as pure innovation and entrepreneurship as you will find.
It was clear that each one of them had spent countless hours learning how to think in a “crypto-first” way.
For each one of them, it is just completely obvious that the “crypto-first” way of business and society is, well, just better.
And each one of them is willing to spend their time and energy trying to make that world a reality.
Now, I have NO idea whether the DMO will be a success or not. I hope so, but any start-up faces tremendous headwinds. A crypto-startup is no different.
However, there is no doubt in my mind that crypto-native businesses will change the world just as Internet/digital-native businesses have done over the past 20 years.
I just feel lucky to be part of a tiny team that is trying to help millions of people who will come after us and never even know of the work we did to chart the crypto landscape.
The overused, cliche Margaret Mead quote comes to mind
Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it’s the only thing that ever has.