Shyft, which will be launching its mainnet soon, took the opposite approach to most blockchain-based startups with a token today.
“‘We asked ourselves, ‘If we were to do this properly, what would it look like? And so we decided to build the protocol first, instead of just issuing a token and letting speculation be our driver,” said Shyft Chairman Joe Weinberg at CoinDesk’s Consensus 2019 after his panel at Construct, the conference’s developer-focused track. “It’s been a model that has worked well in many cases. But, we took the approach of establishing use cases, which involved dealing with regulators, working with governments, and building out new trust models.” Instead of relying on hypotheticals and hype, Shyft raised money privately from investors and started building right away.