Mass adoption in 2019?The Currency analysis
The crypto space is still shrouded in mystery and misunderstanding to the general public which still has not quite caught on to the technology. Yet, blockchain and cryptocurrency advocates know that it can be a lucrative industry once prediction and adaptation to various changes in prices and technology are understood. We have therefore tapped Los Angeles entrepreneur, Blake B. Johnson for some suggestions. His experience has taught him the importance of leveraging networks when it comes to blockchain entrepreneurship, so a valuable, though temporary, lesson he wants to share with others is about leaning on fellow crypto advocates in order to achieve success.
"Crypto Entrepreneurship does look a bit different, which is why it’s more important than ever to take advantage of resources at your disposal. One such essential resource is networking."
Success requires knowledge. However, the crypto landscape is still remarkably young, and most initiates only joined the space within the past few years. Even the most educated of individuals still recognize that they have much to learn. Blake notes that if you want to succeed as a crypto entrepreneur, you need to surround yourself with people who can teach you things. "If you have an idea for a new way to use blockchain or want to bounce theories off of someone for an ICO, would you go to your peers who know nothing about cryptocurrency?" Johnson asks. Probably not. In order for ideas to thrive, it helps to discuss them with supportive people who are excited about the subject matter alongside you. As a matter of fact, right now, the crypto community is an excellent place to share ideas as to what are the most revolutionary blockchain applications; what are the most successful altcoins, and what observations you can make about them.
People who do not fully understand the concept of cryptocurrency probably aren’t going to invest in it, so building an audience through Networking was also integral to Blake’s crypto success because members of the blockchain community were the core of his audience. ‘If you are a crypto entrepreneur, a majority of your audience is going to consist of people who at least know what Bitcoin is. Plus, the more people you talk to who are passionate about cryptocurrency, the more likely your name is to spread amongst their own networks’ he states.
Having a common goal that you can pursue together is one of the best reasons to become part of a network in the blockchain community. Blake is convinced that "When it comes to accomplishing something, anything really, everyone must be fully aligned in their goals in order to win. When there are competing interests and desired outcomes, whatever you are doing will not last. Whether it is a business deal, a romantic relationship, or a friendship, you must be on the same path together, or else you are on the path to death. People who succeed have a clear end goal in mind, and everyone must be aligned on that goal."
The community hopes that one day, the general public will accept blockchain and come to understand cryptocurrency so as to become mainstream. Educating the public will be an ongoing process, so for now, networking amongst community members is a strategic marketing bet.
While crypto advocates declare that one of their goals is to make money, they also aim to push blockchain into the mainstream and share the benefits of decentralization with the world. For this to happen, it is critical for crypto developers and entrepreneurs to express solidarity and work alongside one another.
While the crypto community is indeed full of engineers, marketers, and entrepreneurs who invest, develop, and advise, everybody is rather spread out. To network with lasting success, Blake acknowledges the importance of platforms such as Telegram, WeChat, Slack, Facebook, and Whatsapp that enable communication (these channels, in particular, are a few that crypto-savvy people tend to utilize).
With this in mind, Angel investor Kingsley Advani makes the example of the Brave’s Basic Attention token sale in 2017: While coordinating traditional venture capital investments can take months, members of the crypto community leveraged digital tools so that this particular token sale sold out it’s $35 million offering within half a minute. "When people network properly, they can accomplish incredible things together".
This explains why Blake believes that networks are imperative to any kind of entrepreneurship—especially in the decentralized landscape of cryptocurrency. The next step to tackle is how to build your professional network as a crypto entrepreneur if you want to take the plunge of course.
Disclaimer: This is NOT financial advice. the opinions expressed in this interview are those of the interviewee and should not be taken as some sort of guidance.
By Gerald Fenech Contributor