State of Blockchain

Chapter 3. How to Prepare

The early pioneers of blockchain are like the early explorers of a New World: enticed by the lure of new opportunity, they decide to leave everything behind in thirst of conquest and adventure. Investors are eager to fund their new expeditions, seeing the promise of new wealth from the New World. The explorers are rich in capital and enthusiasm as they set out on their voyage.

When they arrive in this New World, they set up camp, build shelter, cultivate food. They begin to tame the wilderness. But there are few rules or guidelines; they are literally making up new rules for a New World.

Then Crypto Winter sets in. The land is cold and inhospitable; many perish. There are outbreaks of famine and disease. Supplies run low. The explorers must redraw their plans, all the while thinking, the Old World is looking pretty good right now.

But along the way, the explorers discover a few useful things. They begin to mine new riches, just not in the places they thought. They find a few plants and animals thrive, just not the ones they brought. As soon as Crypto Spring thaws the land, things get a lot easier.

And so the new maps and new rules for a New World gradually begin to emerge, which attracts the next generation of settlers, and so on. Eventually, even the most conservative investors come over to the New World themselves, and then it’s no longer the New World. It’s just the World.

With this report, we’ve told you the story of the early blockchain pioneers, ...