A Concept of Blockchain and Tokenisation for Decentralised Startup Community
By admin
14 Jul, 18

Last few months, I co-founded one of the highest growth non-profit startup community in Asia with a new concept called Decentralised Community which is a grass root movement of a bottom up approach to change startup ecosystem in Hong Kong by non-hierarchical structure and every member allows to start initiatives with other members and share across the group.

This experience wide open up my eyes on how important it is to empower User (Real Startup Founder) with the ability to offer and access resources in a community model.   The idea is to decentralise resources which was previously centred around government incubator and private accelerator, with our focus to untapped additional services and offers from startup themselves and make it extremely easy and accessible by other startup founders.

It also opens up my mind on seeing the possibility of how Blockchain and Tokenisation can help Decentralised Startup Community.

Here are some of the key challenges we face today;

  1. How to incentivize startup founder to share their resources
  2. How to maximize government and non-government support and efficiency to most needed startup by reducing middleman
  3. How to make a fair game for startup to obtain resources with their actual effort and potential in place by reducing manual screening and judgement

I like to share my thought on a new blockchain solution which can help Decentralised Startup Community

  1. A platform for startups to offer and post their services and resources with feedback and trade for token
  2. A blockchain system on recording token transaction and feedback with smart contract on task completion or milestone fulfilment (for fund manager)
  3. A token widely be adopted by startup as a currency for their service to startup and end user
  4. A platform for fund manager to easily allocate token to startup and set smart contract

Key benefits on Blockchain for this model;

  1. Blockchain on transaction and feedback allow User and Fund Manager to genuinely identify startup experience and traction on their business model
  2. Smart contract will enable fund and payment on task and milestone completion

A preliminary idea shared above and happy to get more experts to chip in and share our experiences.

I think Blockchain potential in Startup Scene are so wide and great and I hope the place that I belongs to –  Hong Kong can gather more people like myself  who are willing to make a real change and fight for our children’s future in Hong Kong.

 

By

Gary Ng

July 2018

admin
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