Former President of the USA, Franklin D. Roosevelt, famously inaugurated a since forsaken ritual known as the “Fireside Chats” in which he would speak openly to the American people over the radio. Rather fittingly, some of the topics he discussed in the earlier chats included banking crises and a looming recession.
ICO 101 host, Aaron Paul, recently sat down for his own fireside chat of sorts, not because he had planned to, but because a prospective interview had completely abandoned the podcast recording with no warning, no apology. If you haven’t already listened to the podcast, I recommend you do now — it is only 10 minutes.
Aaron hits on some incredibly important points concerning the professionalism — or lack thereof — in the ICO space currently. Speaking from his business background, he rightly highlights that small habits and behavioural traits can go a long way in establishing your product, your brand, and ultimately your project, as a leader in the ICO space. No-showing an arranged interview, not being able to clearly explain your project’s tech, and failing to justify enormous hard caps are not good habits to develop. Unfortunately, they are patterns of behaviour we are seeing more and more frequently of late.
While the point of this fireside chat was to do what Crypto 101 and ICO 101 have made a habit of doing — demanding excellence from the space — there was one more thing I felt needed to be stressed. That is our role as investors, as students, as early adopters in the cryptocurrency + blockchain universe. The crypto + blockchain space includes tens of thousands of people like us — the university students, parents, retail workers, truck drivers, nurses. The lack of professionalism often displayed by these ICOs is a slap in the face to us all who are investing time and money into this promising new technology and trusting them to deliver their end of the deal in bringing about a less centralised future.
It often feels like the focus is all-too-often squarely placed on the next promising ICO, or the latest success, even the latest exposed scam. The ICOs currently on the market or asking for our support are both heroes and villains of the story.
But where does that leave us?
We have become standers-by. We are left to either fortuitously ride the success of the heroes, or go down hard with the villains. On both occasions, we are nothing more than hangers-on — extras on set. For some of these ICOs we are little more than piñatas full of cash, waiting to be cracked open to reach that absurd, astronomical hard cap. Then, if the ICO turns out to be a scam, or fails for any number of reasons, we are often treated as idiots for having invested in the first place.
This is not acceptable. As early adopters, as investors in these projects, these teams, we are the essential ingredient that makes the ideas come to life. Without us the ICOs are nothing, they have no capital, no tangible way of putting their ideas into practice. As such, we need to start seeing ourselves not as standers-by or hangers-on, passively waiting to go to the moon on the back of some pump and dump, but as protagonists too.
We are part of the main cast in this blockchain blockbuster.
We need to start seeing ourselves as major players in the space. When we do, we start to demand excellence from ICOs, not because we are waiting to go to the moon, but because we value the tech, we see the potential in revolutionary ideas, and we believed in a promise, in a team, who said sold us on the idea that they alone could bring about a small part of the decentralised future.
If Aaron Paul’s fireside chat serves as a reminder to the many complacent, unprofessional ICOs currently in the space. I hope this write-up can serve as a reminder to us, the investors, to not be complacent and to see ourselves as the protagonists driving the story forward.
Aaron Paul’s Fireside Chat — https://apple.co/2GGANEU