Bitcoin Global News (BGN)
October 26, 2018 -- ADVFN Crypto NewsWire -- Who would have thought
that the answer to Crypto’s woes might be related to
Tinder?
To understand why this might be true, it is first helpful to
understand where the entire Blockchain industry is now and what it
is logically missing. We, as a space, have the strong support of
most of the major Venture Capital firms. We may also have the top
talent in the world, especially related to financial technology,
which may be said to be true based on the proven shift of top
professionals from industry giants to Blockchain newcomers. If you
have not heard of this phenomenon, check out articles such as:
Brave New Coin’s, “From Wall Street to crypto: Why top talent is
moving to blockchain.” In it, the author mentions specific
instances of even executives leaving what are generally considered
safe jobs for the relative uncertainty of the emergent Blockchain
space.
With all of this, it is hard not to live out our time in the space
with a high level of optimism for what the future will bring. Even
so, something is still missing and actually, Jeff Morris Jr., who
currently serves as the Product Director for Tinder, thinks he
knows exactly what that is. Through investments in various Crypto
related companies like Radar Relay and the infamous Crypto Kitties,
Morris has suggested that the Blockchain space is dropping the ball
related to product development. More specifically, he has made it
clear that if the industry were to bring in truly talented Product
Managers, then Blockchain products would be developed with regards
to addressing true customer needs.
From a general business standpoint, as many of you clearly know,
without addressing a real customer need, prevailing product theory
across all industries, especially in tech, suggests that you have
nothing unique to offer. Furthermore, with this, it is also
typically suggested that products who fail to address a real need
will not last over the long term, hence the reports that pervade
the space saying that most of today’s Blockchain projects have
already failed. In the end, it could be reasonably argued that what
Morris suggests is something we should truly listen to. We need to
not only focus more on true product development, we should also be
creating more digital products that people need or even want. True
market research should not be thrown out of the window just because
this is an emergent industry. For the average person to take the
Blockchain seriously, he or she has to need it.
As to where to start, the Blockchain space could take the advice of
Harvard Business Review’s Joan Schneider and Julie Hall. Why not
start with delaying ICOs until the products are truly ready for
market instead of launching them in the Minimum Viable Product
stage or even before it, with huge investments in tow.
By: BGN Editorial Staff