In 2014 we made a pledge to invest in 100 crypto startups. We succeeded last year but are still looking for more.
In 2009 with the invention of Bitcoin by Satoshi Nakamoto — we have seen what true decentralization can do to money. The implications of a decentralized programmable money are endless. But we have only just gotten started. We have mastered (almost!) the on/off ramps (Coinbase), exchange (Binance/CoinbasePro) and storage (Ledger/Casa).
Now that we are hitting a critical mass of people with Bitcoin and other cryptocurrencies, we enter a phase of applications of what to do with that new money outside of speculation. We are starting to see more engagement around financial products like loans/interest, remittance and general payments. Simply put, we want to find more founders working on applications that enable the movement and use of decentralized money.
- Interfaces: 👀 Using crypto is still extremely difficult. Although UI/UX is a pain, the main driver of adoption of crypto products is trust. Own the consumer relationship with trust and you can drive transactions. (Investors in Coinbase, Guesser, MyCrypto)
- Store of Value for individual and business: 💰 Argentina was recently hit by a devalued Peso and the government made it illegal for businesses to own dollars. Crypto might not even be the best tool and maybe only a rail to hold other assets but there should be products designed specifically for those prepping or knowing a financial collapse is near. I include businesses too because the crypto community tends to focus on the sovereign individual and not the enterprises who also need these problems solved. (Casa, Ripio)
- Cult Coins: 👯 Cryptocurrency communities in many ways look like cults and religions. The cryptocurrency 1. identifies you as a believer 2. gives you access to the network 3. shares in the upside the group creates. The anarchists and libertarians got obsessed with Bitcoin, the technologists got excited by Ethereum and the Doge community… well they are the Doge community. We are going to see more custom coins created for different cults/communities/tribes and want to see more experimentation here.
This is a non-exhaustive list. We have seen and invested in all aspects of crypto but believe going back to the basics — a programmable decentralized money — is still under utilized. We are searching for the best entrepreneurs using the latest technologies to solve the hardest problems of today. Or as we like to say, making SciFi a Reality. If you are working on crypto , the future of money, come talk to us!
Or email me — brayton (at) boost (dot) vc — if there are more future of food requests I should be searching for!
