If You Want to Start a Business Today, Build it on the Blockchain

I just wanted to start off by saying that I'm excited to be in the Steemit community. I came across the community a little over a month ago as I've been a writer for a few years now that has been published and featured in many top publications but I was excited to learn more about Steemit and its different structure.

For the articles I write here on Steemit I want to write and bring awareness to various aspects and one area I'm deeply passionate about and bring experience in is entrepreneurship.

I love having the ability to make something from nothing and have everyone look you in the eye and say you can't do that or you aren't good enough. It just fuels me more to prove them wrong. I've proved people wrong my entire life and I'm not about to stop now, especially not when the world of cryptocurrency and the blockchain is shaking up basically every business or industry out there. It's not the time to hide, it's time to get out and seize the opportunity.

The opportunities in today's world are endless and its all up to us to grab the ones we feel will be the most fruitful for our lives.

Now that I'm starting to understand and learn more about the blockchain I see the real power it possesses and if you are thinking of building a business today I don't know why you wouldn't look to see how you can involve the blockchain somehow.

Cryptocurrency token sales, also known as ICO's are popping up everywhere and a lot of the companies have some game-changing ways they are going to disrupt a lot of industries.

One recent ICO that has me excited for the future of cryptocurrency is TenX. They are building an online banking platform that will allow you to store and use all your cryptocurrencies through their debit cards. The days of not being able to use your Bitcoin or Ethereum are coming to an end.

You'll be able to go into the drugstore, liquor store, or eat out using the value of your cryptocurrencies and this is helping solve such a huge problem that existed ever since Bitcoin entered the scene in 2008. Plus, its eliminating the need for us to have a bank that charges us crazy fees and won't let us do anything without their permission.

No I am not a blockchain expert but I'm someone who sees the power that the technology possesses and if I we're starting out and thinking of building a new software company today, you would be dumb to not build it on the blockchain. Why might you ask?

Here are my reasons why:

1. You Can Keep Equity

Token sales, also known as ICO's are essentially a new way of crowdfunding ideas and projects using the blockchain and by doing so you are incentivizing token purchasers to get involved in the success of the platfrom. Everything is decentralized and you get to raise money for your idea while incorporating the technology of the future, without giving up 10 or 20% of your company to an investor.

Hence why you should consider the blockchain for your startup or business. If you raise $1MM from investors and they take 20% of your company lets say that a similar company to yours using the blockchain, runs an ICO and raises $20 million without giving any equity away who do you think will be able to grow faster and take more market share?

My pick is the business that did the ICO. They have more resources, money, but also they are looking ahead to the future not using what has already been done before. The market is hot right now and it's just getting started so don't think giving up equity to an investor is your only way to succeed. Look into incorporating the blockchain somehow and consider doing an ICO. It won't be the right decision for every business but if you are building software why wouldn't you.

1. People Value Transparency & Incentive

Another reason I think you should incorporate the blockchain and possibly do an ICO for your business, project, or idea is because by creating a token you allow token holders to reap some of the profits and/or benefits of your business as it grows and progresses.

This is called incentivization and its the same thing that Steemit has implemented for this very site. If you want to write something and it gets a lot of attention and you are active in the community, Steemit will reward you with tokens which you can redeem for money on an exchange if you want. This creates a loyal userbase and people that want to contribute to the project to make it better because now they have an incentive to do so.

Lastly you see more and more businesses being transparent and showing their financials to the public or sharing them openly. This was frowned upon and seen as a stupid business decison even for basically ever. But businesses are seeing growth today after being transparent with customers or users by letting them know where the funds are going, how much they are making, and what their future plans are for their business or project.

This creates a cohesive and transparent culture that users and customers feel comfortable supporting. Yes its not very common still but by decentralizing everything it really opens everything up and I value this in a company.

No not every business should use the blockchain yet or do an ICO but with technology rapidly evolving it very could well be THE way to fund, build, and grow your business for many years to come.

Using the power of the blockchain that is. Thats all for now.