First mover user advantage in blockchain


welcome everyone today I wanted to talk
about first mover’s advantage and opportunities that may present
themselves in the future so in my previous video or speaking about
opportunity cost and how this is not going to be the only time to capitalize
on an opportunity within blockchain or this is not the last time to make a good
investment in blockchain there are going to be dapps there are going to be smart
contracts that are going to be lots of applications that are built on top of
blockchains that are going to represent opportunities new opportunities for new
investors all the time so regardless what financial position you’re in if
you’re a very young investor if you have obligations if you can’t put money
towards certain project or as much as you want there are going to be
opportunities that present themselves and today we’re going to be talking
about actually being a user within certain applications or certain dapps or
certain smart contracts that first user advantage and there are going
to be platforms that are created that are going to allow people to monetize
and this is where the opportunity presents itself let’s take a few
examples and then try to relate them to blockchain if you take a company like
YouTube now owned by Google the first youtubers that started
creating videos on YouTube they have legacy within this
YouTube system and they’ve been able to grow their SEO over years and years and
years and years and the biggest youtubers now I mean of course there are
a lot of new youtubers that are really big but the older youtubers they’ve
amassed a massive following just because they were the
first movers on a particular platform let’s take Uber the first Uber drivers
that were driving Uber I’m sure there are some now, but I heard in college that
the first Uber drivers were making bank I mean it was it was pretty common place
for people to be projected to make six-figure salaries being an Uber driver
when the platform first came out there were a lot of incentives the payout was
higher referral bonuses were higher this and
that this and that let’s take a company like Airbnb the first Airbnb’s
there wasn’t a lot of competition out there so you were able to build your
brand within that Airbnb niche market so your home may be able to have amassed a
massive number of reviews which makes it easier to rent out your place now that
first mover advantage is so important and these companies are going
to be created and they’re going to be offering incentives for people to use
their platform and use their dapp or join their ecosystem and if you join the
correct ecosystem and if you navigate the correct way and if you translate
your passions into the ecosystem that you want to do whether that be investing
whether that be broadcasting whether that be writing whether that be whatever
it may be you will have that first mover advantage and you will be able to
capitalize so maybe it’s not about creating that new business idea and
maybe it’s not about creating that new business idea for every single
individual person but maybe it’s about being that business user that customer
for that business and that first mover advantage is going to allow people to
take it’s going to be a “investment” it’s going to
be a “investment” all those youtubers that are mega YouTube stars
now you know it’s you could say it’s analogous to them owning shares in
Google they have helped grow the platform and through the years they’ve
been able to amalgamate more and more users and it’s a snowball effect the
snowball effect so the people that got in really early have a much wider
audience and much easier time to be successful on a particular platform so
moving forward keep your eyes peeled for opportunities and see exactly whether or
not your passions can translate into blockchain and the use cases are not so
clear right now but they’ll clear up as time progresses and there will be
opportunities for individuals to participate so keep that in mind and let
me know what you think are you ready for that next big thing
and what might that thing look like for you
let me know in the comments below and thanks for watching again and have a
wonderful day thank you

18 thoughts on “First mover user advantage in blockchain”

  1. I just wanted to say that I really enjoy your videos and all that you do on Twitter and other forums that have to do with everything Cardano. You're a hard working man and you believe in the project.

  2. Tezos has first mover advantage with formal verification functional programming. Cardano is slow to market. I highly recommend getting a Tezos masternode.

  3. Bro I don’t know how much your network is but if you not rich already you or not going to be rich in crypto or the stock market but if you do become rich In this crypto market That’s if you or a investor this doesn’t go for developers only for investors 1st you going to sell most of all your ADA/cardano you going to have maybe 2000 to 5000 ada in a wallet somewhere just in case then you going to forget about crypto and enjoy 😊 your life then 5 to 10 years later you look on the news and see ADA at 100$ a coin 😂😂😂 that the bitcoin affect that’s the only way you going to get rich as a investor you have to forget about it🤦‍♂️

  4. Plutus delivers an easier, more robust way to show that your smart contracts are correct and will not encounter the problems found in previous smart contract language design Plutus delivers an easier, more robust way to show that your smart contracts are correct and will not encounter the problems found in previous smart contract language design

  5. ADA will become a (very) scarce asset a lot off the supply will be locked up in smart contracts, staking,including decentralized finance, games,…
    Because of that, being able to have your dApp on Cardano's mainnet will be a privilege.

  6. Dear Philpa,
    thank you for your hard work and the informative videos.
    FYI: the video talks about first mover advantage, yet the thumbnail of the video shows white chessmen lost to black chessmen. In chess, the white side starts first 😉

  7. You definitely have a point here – no doubt about that. Most dApps will enable fast and instant peer-to-peer transactions for any kind of economic value (services or goods), which will pull more users into the ecosystem and increase the potential of it all together. 
     
    In terms of money, it could be even more profitable to be a first mover in such dApp then staking ADA to run such dApp – for example, if it would be YouTube (net revenue for 2018 planned around 3,4 billion), then ADA staking would produce around 34 million income which would be divided among the people who are staking (1% transaction fee from 3,4bill).
     
    The biggest youtuber makes 22.mil/year (https://www.cbsnews.com/news/top-10-highest-paid-youtube-stars-of-2018-forbes/).

  8. Great content philpa! Do u know if i wanna learn some programming language to build dapps for cardano in the future where i can start? What language will they be using or thats not released yet

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