TL; DR
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Then Brian Armstrong lists off some blockchain related startup ideas he would pursue if he had the time – worth listening to.
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Our two favorites are: Crypto’s version of Google PageRank; and “The crypto version of Upwork/Fiverr.”
Full story
Crypto years are a lot like dog years.
For example:
Brian Armstrong has been working on Coinbase since 2012.
In crypto years, that’s roughly 130 years (or 1561 months if you want to think about it scientifically).
The takeaway here is this: Brian knows his business.
Therefore, when he lists off some blockchain related startup ideas he would pursue if he had the time – worth listening to.
These are our two favourites:
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Crypto’s version of Google PageRank.
Google’s PageRank system pretty much says: if a site has been around for a while and a number of other sites link to it, it must be trustworthy. Blockchain has a similar structure, but instead of websites it uses wallet addresses.
The only difference is that there is no uniform system that judges someone’s trustworthiness based on previous interactions. Those are important things when it comes to borrowing/lending/trading! (And building the “Google of Web3” feels like a big opportunity).
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“The crypto version of Upwork/Fiverr.”
That is, let big companies post a job to a global marketplace and pay people in crypto for their work.
This is not a new idea. Amazon even tried! They saw an opportunity to tap into a huge global talent pool and went for it. …the only problem was that they couldn’t send US dollars to many of the most popular countries – which led to them paying people with Amazon Gift Cards (!) in many situations (so much so that ‘Amazon Gift Card to cash’- exchanges take place started popping up in some places).
Crypto solves this. As long as companies and employees all have crypto wallets (which can be set up quickly and for free), payments for a few cents in fees can be sent and received in seconds.
…brb, and start a few more crypto-focused companies very soon.