The vision & addressable market opportunities of Blockchain’s such as the Elrond Network & accompanying community is vast beyond what many can fully grasp. It’s the opportunity to re-write the rules of the status quo system that currently serve the few (1%) & is inherently corrupt based on its design.
The existing system inherently promotes inequitable opportunity & wealth inequality. Blockchain systems & infrastructure can re-shape every industry finance, entertainment, supply chain, Content Delivery, Big Tech, food, agriculture, education, politics, government, transportation, healthcare, digital gaming etc. The existing status quo system restricts the majority from participating both in the value sharing (investing) at the ground level due to supposed accredited investor protections & the funding of new value creation (new products/services) unless one has access to capital which currently has very high barriers for the everyday person. How? Blockchain & distributed ledger technology such as Elrond Network among others allows anyone to raise capital via Launchpads such as Elrond’s Launchpad essentially by crowdsource funding mechanisms.
The community can pool their money together so that the people are now the hedge funds & venture capitalists, with immutable ownership representation via the token. A quick key element to understand is that this funding mechanism has even further positive implications. This form of funding is termed Quadratic Funding. It essentially means that the higher the number of individual contributors the higher the amount of matched funding from a match pool. This funding favors the smaller contributors over the larger contributors due to diminishing returns, please see here for further understanding. This creates a win-win by allowing ground up value capture via start-ups to anyone, anywhere via access to a user friendly application such as the industry’s leading best in class Maiar intuitive, simple and powerful non-custodial mobile wallet. This tool encourages & fosters newcomers not just experts. Simultaneously, allowing for value creators ie developers to raise funds seamlessly, which is in stark contrast to the current bureaucratic status quo system “insiders club” that only a few have access to for raising money via venture capitalists & hedge funds.
The implications of this is massive, beyond comprehension. It’s essentially the start of a new economy in which the new system is implicitly designed for equitable opportunity on both the value capture side (investing & favors the smaller contributors via Quadratic Funding) & the value creation side (developers or anyone wanting to collaborate with them to facilitate brand new value propositions via new products/services), while continually improving the utility/benefit of existing products & services we already use. This system design strongly aligns incentives on both sides (value capture — investing) & (value creation — new products/services) thus changing human behavior; especially as it relates to productivity & motivation. This is because it touches on three needs that all humans have based on 100’s of studies done on Self Determination Theory (SDT).
- Competence — the belief you are in control of your life or a specific task (Equitable Opportunity & Permission-less system)
- Relatedness — being connected to other people & to care for them (Blockchain Network design further facilitates or builds on the internet social constructs of collaborative knowledge, collaborative consumption, collaborative creation, collaborative production & now collaborative value sharing — peer to peer).
- Autonomy — to have freedom to make decisions (Permission-less & Frictionless).
Furthermore, these 3 needs all humans have are affected by 2 forms of motivation incentives. that are key to human performance & productivity.
- Extrinsic (Developer rewards driven via the knowing that one can capture value for their creation with Elrond Network 30% industry leading built in royalties for creators & Investing (value capture at ground level $MPAD), which may provide life changing returns similar to private equity. Punishment driven by bad actors, acting maliciously to corrupt the Network by losing all of their stake & not receiving funding for product/service or wasting ones most precious resource — time via not meeting market needs)
- Intrinsic (Coming from within, new vision/idea, pride of achieving the goal of creating a new product/service, improving self worth by establishing a sense of purpose that gets instant feedback).
This system design by the Elrond Network thus serves the 3 human psychological needs & 2 primary motivational drivers that increase human performance & productivity benefiting everyone. This new system blockchain implicitly promotes transparency via open source code design, which in turn facilitates accountability changing human behavior constructively & positively. The health & growth of such a system platform it’s built on such as the Elrond Network among others can be seen 24/7/365 via an explorer such as this explorer.elrond.com It drastically improves the speed to market & the delivery of the value proposition of a brand new product & or service.
This creates a win-win on both sides for the people not a select few individuals like the existing system. The Elrond Network is a system design where innovation & change is driven from the bottom up, not the top down, this is powerful. This means that the people now get to not only vote with their dollars from the ground up for innovative products & services via Blockchain Launchpads such as $MPAD while simultaneously sharing in the value (investment) creation of this product/service & its accompanying utility/benefit.
Did you know that people collectively are the ones that shape groundbreaking innovative products/services & or improve existing ones? According to a 2019 study 54% of significant inventions are the result user innovation. Think about that, most new products & services owe their existence not to large corporations research & development departments (R&D) but to small groups of enthusiasts ie the people collectively. Yet, us, the people while deriving further utility from improved or new products/services don’t get to receive any of the value capture for our work, innovation, ingenuity of improving existing products/services or partake from ground up (investing) new products/services.
Blockchains & Distributed technology systems such as the Elrond Network who’s implicit design is to promote equitable opportunity for all network/system participants. This can be seen in their consensus mechanism Secure Proof of Stake (SPoS) which is not only more secure than any other Proof of Stake (POS) model, energy efficient, but by far the most equitable design. does this to the highest degree. This is groundbreaking both for speed to market & changing the path of wealth inequality. This system is designed for the people by the people.
The existing system that serves the 1% or promotes opaqueness, corruption, greed & wealthy inequality. Now tell me do you want to allow the “Insiders” who benefit from the status quo system & will do anything to stop this to maintain power? I know who has my vote 🗳 time & awareness/educational effort.
With the creation of the Elrond Network it facilitates a new system that promotes fairness & equitable opportunity for all people & pave the way for changing the course of humanity forever? Only time will tell.
Disclosure: I am/we are long EGLD-USD, CEL-USD, MATIC-USD.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose cryptocurrency is mentioned in this article.