CryptoVentures is a brainchild of mine wherein I share potential business ideas with the world for all to read, weigh in on, and yes, even steal (all I ask is for is a small 10% stake if/when you hit it off 😀 #cryptocode)
Part II of CryptoVentures is not so much a business idea as that it is more of a future-oriented train of thought and investment opportunity. It’s funny, I’ve come to the realization that on some level people aren’t aware of how much, and how effortlessly we stick to the age old adage “live in the moment”. A very good illustration of this is the following nugget of wisdom I came across not too long ago:
How often have you caught yourself thinking retroactively: “I wish I had thought of that” or “I wish I had done that”? A perfect example for me being “I wish I had bought bitcoin when I first heard about it for around $200”. So this article is me breaking the prevailing reactive thought processes and transitioning into a proactive one, hopefully sparking your own business ideas/opportunities in the process.
So what’s this future oriented investment of mine?
Digital Price Indicators
If you’re a true believer in cryptocurrencies and blockchain technology then picture this: The year is 2021. Cryptocurrencies have garnished mainstream adoption. Most respectable stores now accept a number of crypto’s available today and it has indeed become the go-to payment method for your day to day purchases. There is no one coin primarily used for all of your transactions. Instead there are a number of currencies that have broken through and are competing for their respective piece of the market share. As a result prices need to be displayed in these currencies. You walk into your usual grocery store and see the price of a loaf of bread being displayed in these various cryptocurrencies.
The lackluster analog price indicator of today will soon be a thing of the past. Digital price indicators will not only be handy but also a necessity to account for the price fluctuations these currencies tend to undergo on a day to day basis. Competitive shoppers can potentially profit by picking the most profitable times and currencies to use.
Side note: As mentioned in part I of this series I purposefully chose to write these articles as the thoughts pop into my head. The following came to mind after my initial idea shared above.
Supply Chain 5.0
Having worked as an SAP IT consultant I am aware of some of the big picture changes happening on the supply chain front. Supply chain 4.0 as it is being called, refers to the new possibilities being made possible thanks to the technological advancements such as big data, machine learning, and whatever other buzz words we have been bombarded with over the last few years. You can read more about it here. However what I’m proposing may have to be classified as Supply Chain 5.0. Let’s take it one step at a time however.
Keeping the digital price indicators in mind we can come up with new technologies/software required to fully utilize the dynamic pricing capabilities made possible. Picture a system behind the digital price tags, one that is linked to or even fully integrated into the supply chain, and to the real-time market prices of the cryptocurrencies. This could enable us to go even further. Consumers may not like what I’m about to write but I’m sure producers and suppliers will love it. Imagine a completely new supply chain that tracks products from producer to the consumer, attributing costs to the product as it moves along the chain. Prices could be adjusted to reflect exactly those costs + whatever margin the parties involved have set. There are already blockchains out there with the purpose of tracking products, assuring authenticity and leveraging automation to make the entire process more efficient. These blockchains may enable a revolutionary shift in the entire commerce space. Removing buying and selling in the business-to-business space all together and instead introducing partnerships wherein the parties involved get paid based on the actual selling price minus all the costs attributed to that product along the supply chain.
Maybe this is distant future dreaming, or the incentives won’t line up quite like how I outlined it here, however it’s quite interesting to think about it.
So there you have it. Basically three opportunities in one article:
- For the retail investor: Invest in companies that make digital price indicators.
- For the tech-savvy entrepreneur: Create the software package needed for real-time crypto prices to be displayed in stores.
- For the revolutionaries: Supply chain 5.0 → Fully embed and leverage the latest technologies (IoT, big data, blockchain) into the supply chain, revolutionizing the commerce world forever.
Hopefully this has sparked your own thoughts to envision the world of tomorrow, which, I would love to hear about!
Which brings me to my final point. It’s something that I touched on earlier, namely, that I consider bitcoin to be the biggest boat that I have missed in my life thus far (in other words, I missed a chance to be part of a great opportunity from the very beginning). Sure some will argue that anyone involved today is still very early and we still have a long way to go. Yes, I agree with that to a large extent. However, seeing as all the ingredients were there; being a tech savvy, slightly geeky guy, who has owned a gaming computer since 2004, I personally cannot shake the feeling. So in an effort to make sure that doesn’t happen again, I wonder if there is any other budding technology, or opportunity out there that we / I, should be aware of?
I know Gary Vaynerchuck is an advocate of all things voice assistant, however the Googles, Amazons, and Apples of this world don’t interest me as much. These large established firms are more interesting once dealing with significant capital. What about the small retail investor looking for the next 1000x opportunity? Some things that come to mind are A.I. or maybe quantum computing? Feel free to share the “golden tip” and as always expect a 10% cut if it takes off 😀
Thanks for reading!
- Has this idea sparked your own future oriented / proactive mind? Feel free to share.
- Can you envision the partnership model I have outlined or is it too far-fetched?
- What other up and coming technologies that will revolutionize the world and a not to high entry barrier are you aware of?