A wise founder once said, ‘Does my project need Blockchain?’
In the startup world, sometimes everything is just a hype.
But only real ones will survive long.
Am I saying blockchain is just a hype? Not exactly, I meant ICOs.
As you know, we can not evaluate blockchain and cryptocurrency under the same umbrella.
ICOs named as another type of crowdfunding. It’s true somehow. But ICOs can have a potential to change funding mechanisms for all startup fundings.
But it’s not mature enough so it will take some time. We have to clear ‘fake, scam, money grab’ projects in this world.
And there are 2 ways to fight against them for the technology sake.
Founders, you should ask some simple questions about your project to yourself.
- Why does your project need blockchain?
- What is the problem that you have been solving or plan to solve in your project?
- Can you convince yourself that blockchain is the only solution for your project?
- Can you believe in this project even in a bear market?
- Will your faith continue under bear market conditions? Can you spend your 2–3 years on this project?
- Do you have an MVP?
- Do you have any community? If you don’t have, what is your strategy will be to build one?
- Is blockchain scalable enough that you have dreamed?
- If you plan to do an ICO, did you check the regulations?
- Is ICO the only money source you plan?
- Whitepaper is important in the ideal world. Did you promise to make a good one?
- What is your roadmap? Is it clear?
Finally, why does your project need blockchain?
I will investigate each question on future articles. Stay tuned.
Sincerely,
Ender Piyale | Moonetize Crew
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