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Crypto industry’s biggest challenge against adoption is not regulation, but the shortcuts adopted by others in the industry and frauds. Deception is no less than a fraudulent activity. The first principles approach is so essential these days that we need to think about everything we do from that perspective.
It’s a common trend for blockchain businesses to hire advisors, but why did that concept start in the first place? Advisors from the industry helped businesses gain clarity, strategize and execute better. They had connections and their network-enabled projects to launch and run faster with resources they could not find for themselves. So, having advisors are great but it is not mandatory. When did having advisor become so essential for a business?
Individuals looking to purchase tokens or invest or join a project start by looking at the team involved. Advisors are the fancy stamps on the site who helped increase the token sales. It was at that point that the “advisors” were “commoditized”.
Here is a LinkedIn message I received:
Wow, being an advisor is so easy. Add a job to your LinkedIn account, post some praises on an IEO and ta-da, you are a valuable advisor. I think I would say the onus lines more on the advisor who gets listed on this for $500-$8000 in tokens than the IEO itself.
For one, an advisor cannot do justice to a project that he does not know, like and trust. A project he believes in and that he consistently contributes to will move forward positively. Sure, an advisor just answering questions and consulting could just get by without much effort, but those who are working at taking the project ahead to the next level cannot create miracles by just letting people add them to their site.
This needs to stop. Bitcoin and cryptocurrency industry is a beautiful space now. It cannot be spoiled further by projects that adopt shortcuts rather than focusing on the quality and end result. The goal can justify the means, but such means can never take one to a sustained goal.
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Karnika E. Yashwant
A prolific writer, KEY brings an insider perspective to blockchain ventures and crypto startups. He shares cutting edge content marketing strategies from his 11 years of management experience. Perfectly balanced in mind and body, he runs marathons, target-shoots, engages in extreme sports and takes a vacation break in 5+ countries annually.
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