Crypto-crash and cleanup — what’s gonna be left ?
As during the “internet bubble”, we had a cleanup: the hyper-speculation on real estate in the 2000–2008 era, as well as in any startup lab for 20 years, a large majority of the “apps” never even made it on the market. Now, how many of the crypto’s carry a serious and solid project ? How many of those 19.000 crypto’s will survive the turmoil of the moment ?
If we look at it in a very pragmatic way, and with as little naivety as possible, let’s watch with a zoom-back on what is going on for a month.
With the rise of the Bitcoin, and blockchain technology, and the continuous hungry creative avidity of entrepreneurs, thousands of startups, and hundreds of millions of speculators plunged into this new economic space. And that, with the same naivety as those who plunged into the internet in the late nineties, in the real estate boom in the years 2000–2008, or in the app business since the smartphone era.
Which projects should emerge out of this messy chaos ?
1 — Strong Projects : with serious business models
The projects should implicate happy stakeholders and paying clients, somewhere, who will finance the teams and costs. Incremental accumulative speculative ponzi schemes will explode sooner or later. Excel sheet “wizards’’ will live short lives in that space… (as in other spaces).
2 — Ethics before Speculation : Ethical businesses
Speculators, scams, crooks, fair-weather vendors, mental wizards and manipulators, will be exposed much faster than before. The time-lapse they can get away with monkey business is much more limited in this fast and centrifuging world than before. Shit gets visible on the radar faster and faster.
3 — True Pragmatism : Connexion to the “real world” and needs
Entrepreneurs who are disconnected with true needs of people, and of society, and who stay in their numeric world, are at risk. The world is changing so fast that they could be out-of-play in a few hours. If they are well-connected, they will be able to adapt and pivot fast.
4 — Coherent teams : racing and adapting
As on a racing sailboat, teams should be very well connected, humble, in tune, in coherence, extremely well managed. Division, confusion, ego’s, divergent agendas, are holes in the ship’s hull. If so, in case of market shift or new tendancy, the company will miss the wave.
5 — Visionary : trivia and naïve gimmicks will be out, very soon
All leaders need to know what’s coming up: lowering buying power, social unrest, hunger, mental disruptions, losing trust in politics, emerging maffia’s, energy cuts, food chain disruptions, inflation/recession and bankruptcies, war for talents, rising destructive climate occurrences,…
At least, try to consciously anticipate, and offer answers to those…
Good luck to survive this tornado ! And see you on the other side.
Prof. Michel A. de Kemmeter
Prof. Thibault Verbiest, crypto lawyer (Metalaw), founder Payfoot
Hugo Horiot, cryptocurrency expert
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