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Your 2019 Blockchain Survival Guide How blockchain startups can stay competitive in today’s landscape By ALYSSA TSAI
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itcoin was born in 2008; Ethereum in 2013; and cryptocurrency was first mentioned on the hit television show, Billions, in 2018. After more than ten years, the technology is finally part of our cultural discussion, but those in the industry are still exploring its applications and working hard to keep up with the pace of its rapid progress.
Is no rule the new rule? hile blockchain has become the startup world’s favorite child, it’s also the cause of much debate for government regulators. China banned initial coin offerings (ICOs) in September 2017 as a protective measure for its economy. But the government still has its eye on the technology, not wanting to fall behind the rest of the world, and is creating
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JUMPSTART MAGAZINE
July 2019
Just as we learned from the dot-com bubble, blockchain is not a cash cow, and should be viewed as a new system that deserves tactful growth.
funds to support innovative solutions built on the blockchain, including Hangzhou’s Xiongan Global Blockchain Innovation Fund and Shanghai Yangpu District’s Blockchain Industry Guidance Fund. Industry insiders are consistently dealing with undefined guidelines, which means we’re always learning and adapting, whether it’s from the perspective of an investor, founder, cryptocurrency exchange, consulting firm, or journalist. The most challenging part is the constant need to be flexible and customized. Chairing a consulting firm, I’ve always preached to my team and my clients that the key to surviving in such an environment is to be flexible, while keeping the same goal and core team. Unlike a traditional startup that focuses on one market to start, blockchain startups need to be more distributed.
