Leon: So I thought the Dash conference was very good. Once again we were invited by the Dash team to attend their conference and I think we both like to thank them very much for inviting us and giving us a ticket to attend their conference. I was quite impressed.
David Fong: I think we both had the impression, it was really well organized, they seemed to get and they use this term a level of professionalism.
Leon:Most of these blockchain projects are still just a bunch of guys with an idea and maybe they have a white paper, it seems like some of them don’t. But they definitely have a lot of organization, they have their governance, it’s self-funded.
So there shouldn’t be any worry about them running out of money. And the only thing I would say is that we were a little bit disappointed that we didn’t see any demo.
But there was a lot of new talent, Dash at the beginning of the year was approximately $10, $11, now it’s between $350, and they’re definitely putting that money to work. So I’m expecting big things.
David Fong: So now they have established the team that’s gonna go and builds out the software, and I thought that was important, it wasn’t just the core team but they had marketing folks who were building communities in different pockets of the world.
Leon: We’re looking to see what this team can accomplish over the state of the next 6 months, 1 year. I’m very bullish on Dash, that needs to be a core position and in my portfolio, it isn’t right now. I have some Dash but not really a full position. So I’m opening to buying more on a pull-back.
David Fong: I have that same thought there. If there’s gonna be an opportunity to pick it up because I do think it’s a good project, a good product as any, it’s addressing a lot of the issues that are plaguing some of the other projects.
Leon: So let’s talk about the next couple of days. After Dash, it was the world blockchain forum.
David Fong: This is a completely different experience. On the one hand, you said it earlier, it felt like we were at a shareholders meeting, we’re getting an update on how the project’s doing, that was the Dash part of this 3 days. The next 2 days I felt like a VC, having all these projects pitched to me, and lots and lots of project.
Leon: ICO after ICO, some of them were not ICOs. There were just talks but they were really ICO in disguise. Because they were planning a future ICO.
But I think that even though I think we felt a bit overwhelmed because there’re just so many projects, but I believe most of them fall into maybe a few categories.
David Fong: The big thing I saw was just tokenization of real assets.
Leon: Lots of lots of projects trying to tokenize real assets. Because of blockchain has allowed us to have digital scarcity, where we know that this token is not the same as that token. And the real world is scarce.
David Fong: Automatically because it’s a physical item.
So we saw many projects where they were doing whether it was silver or real estate, just a general platform like where you can tokenize anything you want.
So that’s a lot of the themes, and I think we should cover the fact that one of them was talking about how there’s a lack of talent now.
Last year I was worried about there was not enough money, now I will say that now there’s not enough talent, there’s too much money in my opinion.
There’s too much money flowing into this space and not enough quality projects and not even enough talent to go build those projects, even if they are good ideas.
David Fong: So we have all these ideas and the specific project was Academy and they’re trying to build the curriculum around, trying to fulfill this need of talents to go and develop on the blockchain, smart contract.
Leon: He decided a statistic where only 13 or 15% of blockchain projects we’re going to be able to recruit like an engineer, who actually needs to go build this. Which means as of today, there’s not enough talent to go build any of the projects, 80% of the projects out there, just simply not there.
David Fong The example was if, for 1 capable blockchain developer, he’s got 14 job offers, available spots where you can develop. That clearly points to a lack of talent.
Leon: So I think we’re gonna go run on this tour to go see this tower. We will continue on. Okay, see you guys next time.