Welcome to the parallel universe where people seek peace, privacy, and prosperity

A peer-to-peer world where people create and share the wealth, lend a hand, but otherwise leave each other be. Cryptonite Weekly Rap V2

The multi-trillion-dollar opportunity

If solving a pain point in a major market is the road to a billion-dollar enterprise, the state of the U.S. represents a multi-trillion-dollar entrepreneurial opportunity. U.S. citizens overwhelmingly mistrust all forms of centralized power save the military, small businesses, and the police. Imagine if you were running a company and your ‘customer trust rate’ was as low as public schools (28 percent), television news (11 percent), or Congress (7 percent) — Yikes! We are living in a world of unsatisfied customers and failed mega businesses.

Updated poll since the original post showing an even more dramatic drop in trust. U.S. citizens overwhelmingly mistrust all forms of centralized power save the military, small businesses, and the police., a huge pain point across several gigantic markets representing trillions of dollars in new entrepreneurial opportunities

The New Zeitgeist—Human autonomy and dignity.

Wonderfully, this emerging consensus and the apps that will allow it to flourish have nothing to do with being a Democrat or Republican, conservative or liberal. These are the labels the other universe uses to define and divide us. The new peer-to-peer societal consciousness feels more aligned with the principle of subsidiarity articulated by German theologian Oswald von Nell-Breuning in the early 1900s. Under this organizing principle, the autonomy and human dignity of the individual are paramount. All social bodies exist for the sake of the individual, not for the benefit of the institutions or the people running them.

Square’s Cash App generated $5.9 billion in revenue in 2020, a 353 percent increase year-on-year, primarily from Bitcoin trading, which was responsible for Cash App’s 169 percent increase in net profit. It’s projected we will reach $1 trillion in mobile P2P app annual transactions by 2023, driven by Venmo, Zelle, and Cash App.

Here come the dApp entrepreneurs

With the rise of awareness in the Bitcoin metaphor and the potential of non-centrally administered networks, 1,500 new blockchain applications are coming online every week, according to Amberdata.io. Thousands of unnamed entrepreneurs all over the planet are developing modern, largely single-purpose, decentralized applications (dApps) that offer ways to get almost anything we can imagine done in a more private, direct, efficient, and cheaper way. While often funded by the sale of cryptocurrencies, this third-wave opportunity has not blown past the VC herds. At the current rate, VC funding in blockchain startups will reach over $15 billion by year-end 2021 — shattering the previous record of $4.5 billion set in 2018.

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Anthony Perkins

Silicon Valley OG. Founder and Editor of Cryptonite. Previously Founder of Red Herring, AlwaysOn, Churchill Club, SVB Tech Group