A time for Decentralized Startups
“Learn early, Learn often.”
Introduction
This is the time that blockchain technology is spreading into various domains (excluding cryptocurrencies). Of course, every industry welcomes it and stands at front to incorporate it.
Blockchain technology allows every business to revolutionize their current use cases. Meanwhile, the existing businessmen and magnates are also taking a lead to update and make their own domains transformed via blockchain. Similarly, many young ‘business talents’ see this transition period as a free pass to enter into the business regime.
Obviously, this is the time for fresh graduates, young professionals and those who were denied every chance at every time.
Bizaka briefs about some decentralized ‘startups’ of blockchain technology that deserve the limelight in coming years, particularly 2023. Because, it is convenient for the various domains to adopt the new technology and also it is easier to function.
What is a decentralized startup? What is the necessity of that?
The ‘startup’ is nothing but a new thing which makes the life of mankind easier than earlier. In this case, which may be a product, service, company or even governance. This is what we have learnt from Henry Ford, who optimized the cars and Bill Gates, who made everyone use computers. In the same way, Jef Bezoz, who made us ‘shopping from home’ and so on. But in every case, we found a technological invention behind every business innovation.
Add Your Heading Text Here
But presently, blockchain provides everybody an equal opportunity to create startups in every domain whether a business or bureaucracy. However, the question is, ‘What is blockchain and why is it necessary?’ The answer is,
‘The blockchain does one thing: It replaces third-party trust with mathematical proof that something happened’
Yes, we were tired of the third parties’ role in the current businesses, but they dominate every domain. However, the blockchain has come with remedies to every challenge of previous technologies and the businesses thereof.
A Challenge
The decentralization is nothing but restricts the third party but accepts only the two parties. For example, the first party, the producer and the second party, the consumer are the only players. In this case, it denies the markets, storing, logistics, transaction ledgers, files, currencies etc but not the delivery.
The Distributed Ledger Technology (DLT), the ‘smart contract’, the cryptocurrency and such components solves every issue in the ‘P2P’ transaction of blockchain. However, an exception is given to the delivery role, that’s to be executed by a third party only. For this purpose,
Eventually, a vacuum is formed for the delivery processes and anyone may solve the issue by initiating a decentralized delivery agency. and solve these kinds of issues.
What we realized is,
- ‘No shops, but only shopping’
- ‘No markets, but only products’
- ‘No schools, but only studies’
- No banks, but only transactions’
- ‘No hospitals, but only treatments’
- ‘No institutions, but only services’
- ‘No bureaucracy, but only governance’
Indeed, the above ideas are the output of Web-2 technology and they are named as OLA, OYO, Amazon, Byju, Tamil Matrimony, PayTm, Swiggy and GPay. In contrast, blockchain relieves the founders cum owners of the above said ventures and makes them decentralized. Hence in blockchain we find the followings,
- ‘No owners, but only system’
- ‘No functionaries, but only functions’
Summary
The history repeats, yet again with the same businesses but without an owner, a building, staff etc. Subsequently, every requirement of every business is met by blockchain technology with the required software and hardware etc. As such, it is again emphasized that this is a time for Decentralized Startups.
“Whenever you see a successful business, someone once made a courageous decision.”