WHAT MARKET SHOULD CRYPTO EXPAND TO?

Crypto is a convergence contents integrating social technology, information communication, and financial engineering. In some way, crypto is the dialectical results taking the good parts from the experiences of learning the capitalism. Crypto is the result taking the strength of each element such as crowd funding, financial product, P2P, stock investment, insurance, cooperative, actual asset fund, sharing and donation, advertisement, cooperative society, sharing economy, and venture investment which brought innovation in capitalism. 

However, there is no severance in the society. Thus, although crypto could be innovative, it should not disregard or compete with the existing market. In other words, the crypto should avoid red ocean at the most and expand to the blue ocean market.

In ‘The Market’ (2007, published in Maeil Business Nespaper), this author suggested that the true blue ocean is available when the business creates the completely new market when the competitor doubts as competition and in the market where items do not overlap. 

Although crypto has the strength of setting the innovations in the existing capitalism, crypto is likely to experience checks and attack from the existing authority groups for its similarity. The financial institutes, large companies, and government won’t leave the new system interrupting the existing order.

It is unwise and reckless to claim for key currency, credit card replacement, bank neutralization, tax exemption, point replacement, shopping mall, and anarchism for replacing the financial institutes or the government. In Korea, people have no reason to disregard their credit cards and use cryptocurrency instead. Also, card companies would not leave such challenges. People in China also don’t have the reason for disregarding mobile pay and using card or cryptocurrency. The cryptocurrency could be used in countries or markets where quantum jump is available and where currency, credit card, mobile market are not available. North Korea, Laos, Uzbekistan, and African countries would be the target of cryptocurrency.

Cryptocurrency could also target the market where quantum jump is unavailable and where people haven’t expended due to pollical and economic reason. Cryptocurrency should provide solutions to fields where public sectors cannot touch due to budget or political issue or fields where private sectors cannot touch due to economic or efficiency issue. For instance, cryptocurrency could be used right away in bio, medical, deduction, game, and welfare fields.

In conclusion, crypto should expand to falling behind blue ocean field where quantum jump is available or gray zone (social integration field) where private and public sectors haven’t touched yet.

The most reckless challenge would be suggesting the substitutes and hurting the prides of authority groups or promoting as if taking away their portions. Keep in mind that those existing groups are not easy to deal with.

Professor Hangjun Park of Sehan University (news@dailycoinews.com)의 기사 더 보기

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