Learn to think on the demand side to find the holy grail of blockchain

Learn to think on the demand side to find the holy grail of blockchain

Every technological innovation is a large-scale social experiment. The key to the door to success is never technology, but scenes.

I was once fortunate to have participated in the entrepreneurial process of a blockchain company. It is precisely because of this experience that I have the feelings mentioned above.

The company is positioned in the toB market and has received two very significant equity financings since its inception, so the company does not have to worry about money from the beginning.

The founder returned from overseas to start a business and is a technical bull. He has a very good sense of technology, and the design capabilities of the underlying technology architecture are first-rate.

At that time, the company also gathered a group of technical backbones from large factories, so there was no shortage of R & D talents.

But it is such a team. In more than 2 years, it has actually failed to harvest. It has been borrowed from the star blockchain team to borrow unknown people. This was unexpected by most people at the time.

In the past two years, the team's technical innovation and accumulation has actually been good, but it has been in a state of holding a hammer to find nails, looking for nails everywhere, touching nails everywhere, and doing a lot of selling combs to monks.

In fact, after thinking about it, the main reason for this result is "too much emphasis on the technology itself, lack of care for the true needs of users" .

In fact, the innovation of any new technology is inseparable from the support of real demand scenarios. This demand scenario must be derived from the pain points in the reality, and the more difficult such pain points are to solve, the wider the scope involved, the new technology innovation The more revolutionary.

For any new technology to successfully land, we must learn to think on the demand side, and only in this way can we make substantial progress. Therefore, for many blockchain entrepreneurial teams, finding the right and accurate user needs is the most important issue. This is the fundamental reason for setting up a life.

Of course, this problem is not just a problem that my former owner has to face. The entire industry has not solved this problem so far.

I think that in the blockchain industry, currently only the two scenarios of exchanges and mining machines production are real and effective scenarios. They have a common feature, that is, "the business model is established and sustainable." Other scenarios are difficult to say. Whether it works. The reason why they are successful is also very simple, that is, "can really meet the needs of users and can really help users solve real-world problems", and many other "dreamy" or even "sci-fi" scenarios are estimated to take a long time I can only think about it.

After finding the entry point for the requirements and clarifying the goals and directions, two more realistic problems need to be solved:

1. How to technically meet the needs of users, that is, to realize the needs that users could not achieve before through technological innovation.

2. How to ensure technological feasibility economically, that is, to achieve technological innovation within the constraints of limited time, limited risk, and limited cost.

After thinking about the needs of customers and their own needs, in the process of solving the above two problems, they also need to introduce capital, introduce talents, and coordinate various social resources to achieve the rapid transformation and promotion of new technologies. After forming a certain effect, iterate, gradually form mature technologies, establish business models, and develop into an industry.

In such a process, in fact, we always have to consider the problem on the demand side, rather than talking to ourselves from the standpoint of technology. Of course, business model innovation and technological maturity are parallel and mutually reinforcing processes, and there is no contradiction. In many new technology industries that have grown, we have rules to follow.

For example, in the field of artificial intelligence, in fact, user needs have changed in form with the passage of time for decades, but the need for automation and intelligence has not changed substantially, whether it is face recognition, license plate recognition, speech / semantic analysis, etc. And so on, all are to meet the "naturally lazy" needs of human beings. After clarifying the requirements, it is necessary to seek breakthroughs in technology and force technological development.

We all know that the intelligence of artificial intelligence depends on the intelligence of the algorithm, and the algorithm needs the support of data and computing power. Now with the development of multiple technologies such as big data, machine learning / deep learning, and parallel computing, the degree of intelligence of the algorithm has greatly improved. It has helped humans to greatly increase the degree of automation and efficiency in many demand scenarios. In this process, China Industrial Intelligent Technology has also made great progress and achieved a real landing.

In fact, the same is true for blockchain technology. What blockchain needs to solve is the problem of trust building and credit accumulation. This is a dysentery. It is more difficult to solve and the scope is wider. Therefore, we need to integrate the reality of society , Learn to think at the demand side, and truly pay attention to the needs of users. Only in this way can you find the holy grail of blockchain!

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Market

UBS Joins the Crypto Party: Following HSBC’s Lead

UBS Group, the Swiss investment bank, will now allow exclusive high-earners in Hong Kong to invest in crypto-connecte...

Blockchain

Points: The Innovative Solution for Funding and User Growth in the Crypto Market

According to Arthus Hayes, points are the most effective solution for addressing the financial and user acquisition c...

Bitcoin

Tesla's Crypto Clout Q3 2023 Earnings Report Reveals Bitcoin Still in the Driver's Seat

Tesla has refrained from using its significant Bitcoin (BTC) reserves for five consecutive quarters as an electric ve...

Market

Coinbase Announces $1 Billion Bond Offering: Capitalizing on Crypto Market Momentum

Coinbase aims to generate $1 billion through a bond offering in order to take advantage of the strong upward trend in...

Market

Binance Continues to Thrive: A Closer Look at the 2023 Performance Report 🚀💰

According to its 2023 performance report, Binance has successfully managed over $1.2 billion in assets and served a l...

Market

Worldcoin (WLD) price soars by 20% as Bitcoin jumps, crypto whale makes a $2.5 million profit.

The value of Worldcoin (WLD) is on the rise, which is a notable achievement in the wake of Bitcoin's (BTC) dominance ...