Qtum’s Founder Patrick Dai : Blockchain Industry Will Embark On A Prudent Development Path
Qtum’s founder Patrick Dai shared his “calm reflection” about blockchain industry on his WeChat Moments on Saturday. In his opinion, the industry has gradually embarked on the long-term development track. Those unrealistic plans and fraudulent projects will fail in the end.
Dai also highlighted that a series of landmark events will happen in the blockchain world such as regulatory actions, scandals, and the falsification of a large number of projects and concepts. Then the industry will engage in a prudent process to develop. The marathon just kicked off.
Here are 10 points of Dai’s thinking:
1.History will continue to repeat itself, but it depends on how long the observation period lasts—1year, 5 years, or even 10years.
2.Blockchain industry has gradually embarked on a path to achieve long-term growth. Products are more important than concepts, but many teams which lack experience in management and products development will fail in this period.
3.Unrealistic plans and fraudulent blockchain projects orchestrated by empty bravado will be knocked out of the game after project funds are quickly squandered.
4.Some landmark events, including new regulatory actions, scandals, the falsification of a well-known blockchain project, will come out to speed up an industry reshuffle,
5.Iconic blockchain startups will emerge both in B2B and B2C fields, and they will begin to gain profits and experience a healthy growth.
6.Profit-driven foundations as well as hybrid organizations which combine foundations with companies begin to appear. Tokens will distribute dividend-like returns. The rosy picture of distributing dividends through a click will be offered.
7.Founders of blockchain projects begin to think about the profit model which will also become a hot topic among all blockchain players. The firs profit model for foundations will derive from investment returns, followed by from donations, main businesses and ecological services.
8.A large quantity of projects and concepts will be falsified, and medias and investors will be educated. Thus, people tend to be more cautious in reviewing new blockchain projects and adopt prudent investment strategies.
9.Those blockchain products and projects that are able to meet consumers’ actual needs and create new needs will survive.Plus, they also have a chance to receive regulatory approval, and even are adopted by the government (It will take 5-7 years).
10. The Marathon has just kicked off. Blockchain participants should focus on technology and products, think overpain points, solve problems, crack down on expenses, keep an eye on profitability, and imagine a promising future of blockchain in the next 5 or 10 years.