– Blockchain based cryptocurrencies can not meet the expectations of a true replacement for ordinary money, because they don’t scale well.
– Ethereums Turing complete language is not verifiable, which opens the door for hacks and flawed programs. A disaster when it comes to legal contracts.
– People tend to loose their private keys and therefore their coins. It is estimated that currently over 15% of Bitcoins are just lost forever.
– The price of all cryptocurrencies changes dramatically over time, which makes it unusable for payments. Especially in small and micro payments.
I’m looking for a cofounder to develop “yet another Cryptocoin” which deals with these flaws on a fundamental level. The tech already exist and we “only” have to put it together. Sure, there are currencies out there, which deal with some of these problem, but we have actual no protocol that handles them all.
– Entrepreneur type of personality
– Experience in fund raising
– Experience in building a start-up from scratch
– Knows the legal stuff
– Live or work in Berlin/Germany
– Know how to get customers and contractors
– A vision that serves a purpose (a currency that scales, is fast, without transaction fees, with a powerful internal scripting language, that comes without the value fluctuations of actual currencies)
– A mathematician, who knows how to realize that vision, because I have all the building blocks at hand.
– A cryptographer who has studied the Math behind cryptocurrencies for years
Thinks to consider:
– Building a decentralized currency protocol does not mean, we have a product to sell. The protocol has to be open source and free to be successful. The profit comes from the advantage of the early investor, who gains from the (inevitable) pyramid effect that happens in the early stage after the launch and then later gets more end more flattened out.
– A successful protocol can the lead to products and customers of course. Many companies in the FinTech business and around the Internet of things are just waiting for a usable cryprocurrency without transaction fees and a constant price.