Some months ago I had an interesting insight about nature of money. The more I thought about the insight, the more compelling it felt. Soon I was thinking about creating a startup around the idea and launching a revolutionary “money platform” with great fanfare.
Tragically my idea was not so novel after all. Several others had independently arrived to the same idea. Concrete “money platforms” based on the idea were already in place or being developed. My opportunity seemed lost.
After looking at these already existing platforms my feelings became more mixed. These platforms had noble goals and driven people pushing them onwards. On the other hand they were clearly not gaining much traction. Maybe my idea was not as good as I had originally thought?
My gut told me to refuse all doubts, continue developing my idea and study these other platforms.
The other platforms typically had single far-reaching extreme philosophical ambition, community focus, distributed P2P architecture, poor user experience, very limited growth orientation and grey legality aspects. I was already aiming for practicality, mainstream global usage, cloud architecture, good user experience, branding, open APIs, excellent growth automation and full legal & tax accountability.
Suddenly my prospects did not look so bad. This is a high risk project which can fail. But I think the idea has great potential. We are just missing the “very good explanation on laymans terms”, “good implementation” and “extreme growth orientation”. I believe myself capable of providing these necessary ingredients and finding correct people to participate.
I have now decided to jump into the unknown and see if I can navigate my way from simple idea to concrete launch and beyond. Stay tuned for more and thanks for reading.