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There seems to be some disillusionment about Crypto and Community or to put it more succinctly, “Crypto Community” in the wake of historical events of the past year. 2018 was notorious for ICO failures, ponzi scams, false hype, and FUD. Some are saying Crypto has an ethics problem. More to the point, it could be said it’s some people within the crypto space that have an ethics problem. Just as we’ve seen in the “real world” of fiat currency, banks, governments, and entrepreneurial shysters. For decades this game of greed has been played out leaving scores of victims.
We have seen the profiteering with this nascent industry at the misfortune of others. Also, startups have been too quick to launch an idea with no real thought or products to underpin it. The idea that the larger their community the more valuable the coin does nothing for sustainability. With that mindset and no real product, gives rise to pump and dump scenarios which result in the coin losing value, and rarely, if at all, recovers.
Airdrops have been initiated to increase awareness and customer base only to find the majority dump their coins at the first available opportunity. Some of it’s the” get rich quick” mentality and “pump & dump” culture that has been created but apart from that and of course, the technology getting into the wrong greedy hands, what else are these ICOs doing wrong to result in failure?
We need to turn this culture around and treat it like it was meant to be treated as stated by the founder of Bitcoin, Satoshi Nakamoto 10 years ago. All companies need a product or a purpose that is needed and sought after by the community. They cannot ride on the coattails of what their coin might be worth just due to its initial popularity.
Last year will go down in history as the cryptpocalypse, this year will be the year of the cuts. There are good things happening behind the scenes with crypto and blockchain technology. This industry has made its mark and here to stay. The companies who have survived last year and continue to grow this year will be ones of integrity and substance. All others will fall away.
Considering much of the “real world” is online these days with Entrepreneurship classed as a real occupation there are some companies that offer real products to real clients. Blockchain Technology is being implemented in many industries, not just in finance, but in health, logistics and now social & market networks and as a result, freeing the broader society from the antiquated hierarchy of today.
In the case of cryptocurrency, it has its place in the world of ecosystems. Particularly helpful to the unbanked. Trading in crypto is only a sideline gig for enthusiasts, even though it’s perceived to be in the forefront and the only thing crypto is meant for. What is evolving in the real-world is an ecosystem where crypto is fluid and can have real value providing there is a product fit and the Ideology is one of integrity.
For the viability of any crypto business ecosystem, there needs to be Community, Technology, and Liquidity. Digital money viability is established through the interaction between these three groups within the ecosystem. There is no viability if these interrelated groups do not exist.
Paypal executed an incentive to attract more customers back in the beginning as do many businesses with loyalty programs. Crypto-based businesses can have the same success with a utility or consumer coin that adds value to the experience of the user. If introduced correctly, with products and services underpinning the system, there is enormous growth potential where its customers use the products and are rewarded for using them. This creates loyalty and a community is built. The coins are part of the ecosystem, not the pinnacle. But who does that? Is this just a future concept? No, It’s here now with Markethive.
As I said earlier, much of the real-world operates online and Entrepreneurs are now classed as having a real occupation. Markethive was born with that in mind, but since the advent of the latest technology, it has gone one step further and is now built on the blockchain with its own coin. (MHV) Markethive has just completed its first airdrop with micropayments and tips now active within the system. There are many happy campers within the community...
Markethive Associate, Ven Dance states,
Louis Harvey says,
Richard Mathiason says,
Markethive is a predominantly free system that allows freedom of speech, total privacy, and transparency, promoting education for the youth through to the seasoned entrepreneur providing support, network, tools and motivation to experience entrepreneurialism, sovereignty and success resulting in a complete ecosystem with universal income.
Markethive is creating a social network that is integrated with state of the art blockchain, cryptocurrency, and inbound marketing technology. Because Markethive is decentralized, autonomous and controlled by its entrepreneurs and holders of MARKETHIVE, its coin (MHV), will share and benefit from its success.
Blockchain-based Companies like Markethive, derive their profit from the projects that are underpinning it, plus the products and services they deliver, therefore they are able to give back to its users in many forms, including remuneration for using the platform. In essence, they give the power back to the people.
Is the crypto community valuable? Yes, they should be the focal point of any business. They are the lifeblood. Facebook with its current business model is valuable because of its 2 billion users, however, their misuse of data and lack of consideration for their users is questionable.
Keep an eye on Markethive (MHV) It's a force to be reckoned with. It's leading edge of the new blockchain, the new Market Networks and the new decentralized solution to the elite big data tyrants like Facebook and Google.
The global financial system and social media are broken and business ecosystems need a better way to do things. With Markethive it’s here.
Deb Williams
I am the Market Manager and Senior writer for Markethive. Also a strong advocate for technology, progress, and freedom of speech. I embrace "Change" with a passion and my purpose in life is to help people understand, accept and move forward with enthusiasm to achieve their goals.
