Can the world of blockchain lead to heavy jumps in entrepreneurship? According to Roundtable anchor Rob Nelson and Block Leaders founder Jillian Godsil, the answer is a resounding “yes.” Blockchain and Entrepreneurship: How One Compliments the Other Blockchain is still in an infant-like state in many ways. As primarily the technology that gives cryptocurrencies their […]
Blockchain and Entrepreneurship: How One Compliments the Other
Blockchain is still in an infant-like state in many ways. As primarily the technology that gives cryptocurrencies their power, it’s being experimented with to see how else it can be used. For example, there are many case studies showing how it can aid industries like manufacturing or healthcare. The list goes on and on.
Since it’s such a new development, blockchain is opening many entrepreneurial doors to allow new business owners and managers to step in and make their marks on the future. The recent discusses started with Nelson, who asked:
We talk a lot about entrepreneurs in the traditional market space, in traditional business. I’m curious, do you see a difference with entrepreneurship in the blockchain, in the crypto space? If so, what and why?
Godsil responded by stating that digital entrepreneurs are a breed all their own, and that the arena is offering all kinds of chances and opportunities one isn’t likely to find in other sectors. She said:
What might be different about entrepreneurs in this space? They’re very inventive. It’s not run-of-the-mill stuff. They’re not reinventing the wheel. They’re coming up with really different technology, different ideas, and different products.
She also commented that blockchain is truly unique and provides all kinds of advantages like the fact that it’s fully decentralized. She says it prevents the issue of double spending, and it allows entrepreneurs to come up with ideas that otherwise would never be possible. She said:
They think outside the box, and they’re a bit crazy, really.
She commented that the situations surrounding supply chains are coming to light more through blockchain use. She says blockchain is helping supply chains undergo revolutionary transformations and stated:
All of a sudden, you can actually track your banana from wherever it’s coming from to wherever it’s going.
She also said that many farmers in foreign regions are being paid in tokens native to specific blockchains, and this has really helped their operations. She commented:
You think that’s 50 euros, 50 dollars… but to somebody in a developing world, that could be enough to buy seed. The impact, not only are you benefiting the conscious consumer, but you’re also benefiting the original producer, especially in a developing world and that’s very exciting.
The Transparency is Very Important
One of the great things about blockchain is its transparency. It handles tons of digital transactions that anyone can look at and view at any point in time.
Thus, everything is kept in check and the likelihood of fraud occurring through blockchain becomes relatively slim.