Blockchain technology has brought many opportunities to entrepreneurs and its good to see that people are utilizing it. Decentralizing your business is a good idea but collecting funds from the public is not easy. It is estimated that you will need more than 100K to run a successful ICO or crowdfunding with a great integration of blockchain behind it or an idea where blockchain integration is necessary.
Beside your entrepreneurial skills, you will need a strong engineering background to perform this complex business. Blockchain world needs something scalable because transacting with this process of encryption is very slow as compared to payment companies such as Visa which handles an average of 150 million transactions every day with a capability to handle more than 24,000 transactions per second. Can you compete in speed with visa? ask yourself, are your providing value to society? if yes then go for it
Next Big thing is analyzing the market. You have to face the competition as nearly every month a great idea with ambitious entrepreneurs are engaging with cryptocurrencies to improve their financial condition. Many of the ICO’s are unknown or failed before launch. In my opinion, don’t just use blockchain as a means of transaction it is above that. We just need a valuable integration of this technology.
Look at steemit.com, people write content and get paid for it. The community itself grows some amount of STEEM converts into STEEM power or in the platform itself. Investors are interested in such kind of platforms and especially which have a high influence on society.
Don’t waste your time, give value to society.