What are the opportunities for exploring the blockchain in the field of entrepreneurship?

The blockchain is set to revolutionize multiple industries. Based on current trends, it is anticipated that large-scale blockchain applications will soon take off. However, it will likely take two to three years before the technology becomes widely adopted, and it's unlikely to become a general infrastructure in the short or medium term. So, where exactly are the entrepreneurial opportunities in the blockchain space? Starting from 2017, concepts like blockchain, Bitcoin, cryptocurrencies, and ICOs began to gain public attention and captured the interest of investors. The market value of Bitcoin surged by 13 times in 2017, while other cryptocurrencies saw even more dramatic growth—some rising over 150 times. This sparked a "coin-making" craze. Major tech companies such as BAT (Baidu, Alibaba, Tencent) started experimenting with blockchain, and an increasing number of listed companies announced their shift toward blockchain technologies, often seeing their stock prices rise sharply. Numerous blockchain startups emerged, and venture capital firms began focusing more on blockchain-based investments. Some institutions even shifted from traditional equity investment to a hybrid model involving both equity and cryptocurrency. This growing interest was not limited to the startup world; it also caught the attention of Wall Street. In early 2018, during the Spring Festival, discussions around blockchain and cryptocurrency reached a fever pitch. Groups like “3 o’clock sleepless blockchain global ING” (later renamed “3 o’clock founding blockchain”) became popular online, with late-night conversations sparking widespread media coverage. These groups highlighted the enthusiasm surrounding blockchain, especially among early adopters and developers. Meanwhile, financial giants were also paying close attention. In February 2018, JPMorgan Chase published a 71-page report titled “DecrypTIng Cryptocurrencies: Technology, Applications and Challenges,” analyzing the potential impact of digital currencies on central banks, financial institutions, and markets. Earlier, in May 2016, Goldman Sachs released a report called “Blockchain: PutTIng Theory into PracTIce,” exploring how blockchain could transform areas like shared economy, smart grids, real estate title insurance, and more. **Around the blockchain, we believe that:** - Despite its long-term potential, blockchain is unlikely to become a common infrastructure in the short to medium term. It may not replace legal currency anytime soon due to technological limitations, service quality issues, and regulatory challenges. - While blockchain can disrupt production chains and bring efficiency, not all industries will be affected equally. The extent of its impact depends on whether the benefits (like improved efficiency and security) outweigh the costs (such as increased transaction time or complexity). - Decentralization will challenge the dominance of industry giants. Although big players are testing blockchain in non-core areas, there will still be ample opportunities for entrepreneurs to reshape the industry. - With the maturation of smart contract platforms, many application-level enterprises are emerging. In sectors like cross-border payments and intellectual property protection, the market potential exceeds $10 billion. - Large-scale adoption is expected within 2–3 years, based on ongoing technological advancements. This report doesn't delve into the basics of blockchain but includes links to some of the most insightful articles and reports for your reference. **In this report, we will focus on the following questions:** 1. Can the blockchain become a common infrastructure? 2. What factors determine whether an industry is suitable for blockchain? 3. Is blockchain a new opportunity for big players? 4. Where are the entrepreneurial opportunities in the blockchain space? 5. How close are we to a large-scale practical application of blockchain?  **Q: Can the blockchain become a common infrastructure?** **A:** In the short term (2–3 years), the blockchain is unlikely to become a general infrastructure due to immature technology, limited computing power, and the fact that decentralization doesn’t always equate to better service quality. For example, decentralized platforms like "Decentralized Airbnb" may lack accurate housing information, affecting user experience. Similarly, in a "decentralized Drips" system, untrusted drivers could compromise passenger safety. However, in the long run, blockchain has the potential to change the way we connect and trust each other. By replacing centralized trust mechanisms with decentralized ones, it can redefine production relations and create new models of interaction. While the Internet connected people, information, and services through centralized platforms, blockchain introduces a trustless model where nodes can directly interact without intermediaries. This shift could lead to more secure, transparent, and efficient systems across various industries. Over time, the changes brought by blockchain could have a profound impact on productivity and economic structures.

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