Making use of Blockchain tech: Colony.io
Two weeks ago I had the pleasure of hosting Dr. Aron Fischer on my podcast, talking about his lastest blockchain project Colony.io. Check it out here: https://soundcloud.com/user-995479639/build-your-colony-waron-fischer
This is a suuuper facinating application of the Blockchain technology for a couple of reasons:
- Today, sharing and creating stuff on the internet is super easy. However, the minute you want to SELL something at scale there's a tremendous hassle with creating a company, both legally and financially. Colony.io will help solve both.
- Sorting out and deciding on ownership is a REAL pain when creating a startup (I know this from first-hand experience, having been part of no less than five). Basically the issue is this: You only want to give ownership to people who are willing to put in substantial, valueble contributions OVER TIME (not just in the beginning). Colony.io will keep an open and transparent ledger of everybody's contribution and thus make it very easy to adjust ownership.
- Often in traditional organizations, power struggles and hierarchy comes in the way of collaboration, sharing and value creation. In an open organization like the one suggested by Colony, decisions and accountability will be shared among it's users.
What do you guys think? A cool idea?
Interesting concept for sure. Wrapping all of this into an app/DAO will definitely make life easier for a lot of startups. You could also highlight the need for new startups to interact with various blockchains, and make big bucks from being ahead of time by implementing a system that treats crypto revenue according to ones country's laws. This is a challenge I think a lot of people will run into in the upcoming years. But this is probably already in the roadmap?
Will be interesting to see where this leads. You've got a new norwegian subscriber :-) Feel free to check out my profile as well.
@partywalrus - thank you! Yeah super cool startup - I don't know if its on the roadmap but that's an interesting angle. I'll follow back :)
Cheers :-) I'll keep a keen eye on your project and future updates!