William Mougayar

“A new DAO is like a startup. It requires a product/market fit, business model realization, and a lot of users/customers.”

“I am very excited about the prospect of using cryptocurrency, not just as a money equivalent, but using it as a way to earn something as a result of doing some type of work.”

“With the influx of available cryptocapital that has become widely accessible, it's going to be interesting to watch what happens next, because companies now have the luxury of raising enough money to build simultaneously a product, a company, and an ecosystem.”

“Let's hope the Canadian public sector starts putting the blockchain on their agenda so we can see a significant difference in how government services are delivered.”

“A blockchain-based startup could have a product/service as part of what they are developing, but their stride is best hit when they are also creating a self-sustaining circular economy that is supported by their own currency or tokens and where there is a transactional loop between earning and spending these tokens within their ecosystem.”

“If you have your own currency, you have your own governance, so each currency becomes their own mini-government. Mini-government is a big word, but it's a body that is governed in a decentralized manner where users have a say, where there's oversight and transparency.”

“Study how to write smart contracts, which is the basic unit of programming a blockchain for business purposes. It is the equivalent of being taught HTML and Java during the early Internet days. And master how to create assets or tokenize existing ones on a blockchain.”

“ICOs cannot escape startup evolution characteristics. This means that their growth will be hard fought, hard earned, and hardly a walk in the park.”

“The blockchain is an asset normalization platform that can enable a new liquidity in transactions, hence creating large networks of usage and value effects with benefits in speed, cost, quality, or outcomes.”

“Owning a token bestows a right that results in product usage, a governance action, a given contribution, voting, or plain access to the product or market.”

“Big companies do not want to disrupt themselves. All they want to do is improve themselves. They see the blockchain as another IT project. It's going to save money; it's going improve a process here and there. It's not going to change their business.”

“Crowdsourced funding via cryptocurrencies is a viable practice. A lot of good ideas and innovative companies are coming out of it. This segment is creating thousands of jobs and companies all over the world.”

“There is a new economy out there, what I call the Crypto-Tech Economy, that could be as big, if not bigger, than the web economy. So we have to be prepared for it.”

“How do we create new value? You create value by running services on the blockchain.”

“Most blockchain platforms don't share that much in common, resulting in choice lock-ins, lack of interoperability, and potentially dead-ends that are hard to untangle.”

“Public blockchains are almost like the public Internet, which is open and widely accessible. If you can get on the Internet, you will likely be able to get on a public blockchain via a specific application.”

“For the first time, companies can be their own payment processors without the cumbersome or costly aspects of traditional financial settlement options. Tokens offer a much lower barrier for processing end-to-end transactions inside a given market.”

“As much as one would like to think that what China does doesn't matter, the reality is that when China sneezes at crypto, the rest of the world catches the cold.”

“Cryptocurrencies are not evil and are not for money launderers and scammers. They are for entrepreneurs, technologists, change-the-world dreamers, and anyone who believes they can (and will) enable new business models, new types of organizations, and new ways to service consumers and businesses alike.”

“When (not if) regulators start looking at ICO deals they might want to investigate, they will likely start with the ones that exhibit weaknesses.”