Summer of 2018 marked a disastrous moment for blockchain enthusiasts. Remembered as the Black Friday in the history of blockchain, that was the time of crashed crypto prices, declined ICOs and disruption of the crypto bubble. Since then we have witnessed the brutal implementation of Darwin’s Law. The blockchain market healed itself, refrained from weak (and bogus) projects while projects with substance and a strong technological vision survived. There is also much evidence that these kind of projects solving a sophisticated technical challenge and contributing with a solution to affirm decentralization get the support of the community. Although ICOs have been condemned as “dead” after the market crash, projects with strong deep tech vision received nevertheless a descent amount of fundings from the community. Most notable are the ICOs of Fetch.AI and Ocean Protocol raising 6m and 1.8m USD, respectively. Far away from the craze of the past, these are fair numbers for early-stage ventures to showcase the viability of their technology and to prove a product-to-market fit.
After the storm comes the sun. 2019 is full of positive energy and innovation. Much hope is given to projects related to Decentralized Autonomous Organizations (DAOs). They lift the core principles of blockchains — decentralization, incentivization and democratization — to the next level. Instead of machines agreeing on the global state of the network, humans agree through a democratic decision on the next state of the community. This idea disrupts the way organisations, governments or enterprises are operated and executed. Consider, for example, a DAO where