Every so often a new technology comes along that changes fundamentally how companies are ran and operate. Two major such changes happened with the PC (digitised companies) and internet (connected companies and made them visible). Companies who adapted survived and flourished, companies that didn’t, died.
Modern companies who tie their financials to crypto assets are going through a similar tectonic shift. The most obvious types of such companies are ICO companies and crypto funds. My company, Blox (Formally CoinDash) is very much an example. We’ve raised the majority of our funds in crypto, most of the company’s assets are in crypto and the company issued a crypto token as well. The way we think about money, operational runway, hedging, banking and so on is extremely different than any other normal startup. Accounting, taxation, tracking and pricing of the company’s assets is a whole lot different than having dollars in the bank. It becomes much more complicated, time consuming along side tremendous benefits crypto assets offer over traditional assets.
In every point in history when a big technology revolution came, new tools were developed to enable companies and individuals to interact with that technology. Excel sheets, Accounting, CRM, ERP and other products were developed on top of the PC infrastructure to move companies from paper to computer. The web browsers, messaging platforms, data storage, cloud computing and other services were developed on top of the internet infrastructure to move companies from local networks to a global network.
Those services are so fundamental to the infrastructure beneath them (the PC and the internet network) that they became software infrastructure on their own. If you take away any of them, modern companies will be hit big time.
The blockchain industry made it to mainstream in 2017. 2018–2020 will be all about building those pieces of software/ services that will become so fundamental to the future crypto company that in turn they will become infrastructure as well.
(Contributed by Alon Muroch, CEO of blox)