Blockchain Company

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= A company that operates using the same tech that bitcoin uses.

Description

John Robb:

"A blockchain company isn't like any company you know.

It's not run organically (it doesn't have faux person-hood). It doesn't have CEO, COO or effing board of directors. It doesn't go to a fund or a bank for funding. It never floats an issue on Wall Street. Blockchain companies don't need all of that legal cruft and the parasitic overhead that comes with it.

The entire company is simply open source software. It's built to provide a function and divide up the rewards of providing that function to the participants.

A company like this runs as software, in the same way bitcoin is run: decentralized. That means the company doesn't pivot, reorganize, or recapitalize. It either provides a useful function it gets paid to do, or it doesn't. If it doesn't work, it is replaced by a new company that does it better.


A blockchain company doesn't have shares of stock. Everything that it earns is paid to the people in possession of the companies coin on a pro rata basis (using the blockchain currency of choice). Ownership is simply a call on this revenue, and all it is paid out in real time.

Earning a blockchain company's coin is done by the company's participants. You can earn coin doing everything from providing cloud services to doing the same types of stuff you already do online (writing, rating, and curating). There are ways to measure all of this and connect these activities to revenue.

Investment, to the extent it is needed to launch a venture is crowdsourced, usually by prepurchasing goods and services to be delivered in the future.

A blockchain company doesn't need Silicon Valley, Wall Street or Washington.

It just needs to be open, decentralized, and useful enough to suck value out of the old economy." (http://globalguerrillas.typepad.com/globalguerrillas/2014/10/blockchain-companies.html)


Discussion

John Robb:

"It should be pretty clear that the economy we have today is holding us back.

It's an amoral, debt-riddled system that is riven with corruption and wracked by periodic bouts of extreme instability. Worse, on its current path, the 'turking" future it's building for us is pretty damned grim.

Worse, there's no way to fix this system. No reform is possible. The rot is in the foundation because it is obsolete. It rests on assumptions that are as out-dated, limited, and as dangerous as those that underpinned the agrarian, aristocratic economy it replaced over the last five hundred years.

This means there's only one way to replace it.

It can only be done through wholesale creative destruction. The new economy needs to grow in a way the old system can't corrupt it.

The only vehicle that can do this quickly and in a way that yields a positive results is something called a blockchain company. A company that operates using the same tech that bitcoin uses." (http://globalguerrillas.typepad.com/globalguerrillas/2014/10/blockchain-companies.html)


Towards an internet of (block)chains

John Robb:

"The future of the Internet is a confederation of chains.

Chains that'll do almost everything.

Chains that act like companies (without any of that "organic and financial overhead" that costs us so much).

Chains that cut across borders.

Chains for closed social networks. Chains for virtual legal systems. Chains for industries...

Even chains for global insurgencies and alternative economies (the topic of my new book).

Lots of chains.

It's inevitable at this point. Bitcoin was simply the plausible promise of what was possible with this tech.

I'm also getting a very good feel for how this is going to roll out and what I'm seeing is pretty cool.

How so?

The rollout of these blockchains is going to be full on creative destruction.

Chains will generate or control more wealth in the next two decades than the world has produced since inception.

They also enable us to destroy wealth with equal alacrity by allowing us to shift our thinking on what we consider valuable (to the old and currently wealthy --> you are toast). " (http://globalguerrillas.typepad.com/globalguerrillas/2014/10/the-internet-of-chains.html)