- Blockchain is a technology
- Crowdfunding is a) asking strangers b) for money c) over the internet
- When “Blockchain Businesses” use DLT to create tokens, coins, and various digital thingamajiggies 99% of the time they do so for the express purpose of raising capital by creating a security, a la ICOs, TGE, IEOs, NFTs, etc...
- The other 1% they’re creating derivatives but we’ll talk about that later.
- Otherwise DLTs would be digital products or services, with set firm, fixed prices, that Businesses could sell to users/consumers and pay appropriate State, Local and Federal sales and income taxes on.
- Blockchain advocacy groups should partner with the Crowdfunding Professional Association because raising capital isn’t the domain of “Blockchain” businesses nor Blockchain advocacy groups.
Hello Beautiful Blockchain and Cryptocurrency People!
I wrote a longer article on why everyone in the Blockchain Advocacy space should join the Crowdfunding Professional Association. But instead I'll leave it at this: Blockchain doesn't help you raise money. Crowdfunding does.
Looking forward to you joining the CfPA.
Ps - just because you call your blockchain based thingamajiggy a "token" or a NFT doesn't mean it's not a security. Thats like calling a platypus a duck. Don't be that quack.
About the Author
Samson Williams is a serial entrepreneur and accidental investor. When not starting business with his enemies (“Entrepreneurship is hard. I only recommend it to my enemies.”), Samson is an Adjunct Professor at Columbia University in NYC and University of New Hampshire School of Law where he teaches on blockchain, cryptocurrencies and the Space Economy. Samson is also President of the Crowdfunding Professional Association and investor into two investment crowdfunding platforms Brite.us - CrowdInvesting Done Brite and GoingPublic.com. For more information on Samson visit www.SamsonWilliams.com and follow him on social @HustleFundBaby.