This Year’s Top Ten Crypto Narratives
4. “Unbank the Banked.” I love this quip. (I believe it originated with the OmiseGo team in mid-2017.) It’s SPOT ON. There’s building tech for the disenfranchised, who often need financial services, but don’t make tremendously compelling early customers because of their low CLV (customer lifetime value). Then there’s building tech for those who are on the inside already, but feel like they may be on the way out: the misfits, the tinkerers, and the dissidents. We desperately need more success stories from Latin America, and the Middle East, and other emerging or unstable markets, particularly in regions where the rule of law is weaker and there are security risks associated with having a healthy bank account. Bitcoin took off in the U.S. in large part because Wences Casares, Silicon Valley’s “patient zero,” was a successful entrepreneur from Argentina with a superhero backstory and a stunt that caught the attention of the rich. Bitcoin caught fire in the U.S. because he passed $250k of bitcoin around a table of Silicon Valley power brokers at an exclusive 2013 dinner, not because someone at the party bought LSD on Silk Road (ok, ok, maybe it was both).