At university, Masayoshi Son, founder and CEO of Softbank and the Vision Fund, had a goal of making $10,000/month. He asked his friends if there were such jobs available to do so. They replied that Masa’s aspiration was nothing more than a pipedream. He, then meditated on the question, giving himself the parameter that he would spend 5 minutes of his daily free time to work on his side-project. The answer to the question of — what would be the most efficient use of his time was, — ‘INVENTION’. He would go on to develop a electronic dictionary that he sold to Sharp for $1.7 million. Vastly exceeding his goal of $10,000/month.
The value of Masa’s insight is the driver of this society’s goal, which is to help students come together to INVENT new things using Blockchain as a key ingredient.
How to Invent
There are two types of invention — commercial and fun.
Commercial: This has commercial value in that the product can be sold. Then, anyone can make anything. But as Garry Kasparov said in his book Deep Thinking — we should always be finding the intelligent move. Given that we have limited time, we need to zone in on specific areas to build on to maximise the efficient use of our time and value. Masa once spent 1.5 years scouring all the industries finding his intelligent move. At King’s we have 3 or 4 years to do so.
Fun: Every project should be fun. It might not have commercial value. That does not matter because building anything helps one develop skills.
Most people understand blockchain as a distributed ledger secured by cryptography. But, in reality — working on blockchain is to join a movement against AI. To regain our autonomy and self-identity. Venture Capitalist Peter Thiel said — “Crypto is decentralising, AI is centralising. Crypto is libertarian and AI is communist. " To put things into perspective, through AI engines, companies such as Facebook, Instagram, and Google can shape our world view by showing us content that they want us to see. It is a scary thought.
On the technical front, Blockchain is an emerging technology that is rapidly receiving attention from the largest corporations and governments in the world. To be part of the change is exciting.
How to Invent? — KCL Blockchain Society
Most of us are not Masa. Many of us are amateur inventors. The failure rate will be high. Therefore, this means we need (1) mentors, (2) team members with complementary skills, and (3) a tool to showcase work, connect with mentors and the community. The KCL Blockchain society has come up with a unique project-management structure to do accomplish those three things.
Team members are in business, legal or technical teams. The three fundamental ingredients of any great enterprise. Business people are important for strategy, product management, business development. Legal people are important to tell the team what can be done and what cannot be done on the market. Technical people are great because they build the product.
If someone is interested in fashion and wanted to meet the CEO of Gucci, Marco Bizzari — it is easier to use a society as the front to invite him to come have a personal conversation than for a student to do it alone. Anyone can invite any external person who they are interested in. Having this power of connection is significant because by having close intimate time with a successful person, one can find a mentor. The insight gleaned would help team members to their ideas and skills.
The final magical thing of the society is that it allows first years to join our committee. For second, third, fourth, masters, Phd students, they are also involved.
If you are keen to build — to be an entrepreneur — or keener to have fun building the future. Join KCL Blockchain