Cryptocurrency Entrepreneurship in 2026: Moving away from speculation and focusing on 5 valuable are

加密货币周期中，总会有那么一段时间，人们开始退出、离开、崩溃。他们宣称加密货币已经过时，后悔自己在这个行业投入的那些年，并认为这项技术除了犯罪和投机之外，永远不会有其他用途。

这种情况每隔几年就会发生一次。

这并非泛泛地呼吁所谓的“山寨币季”，而是呼吁大家保持乐观，并认识到现在是历史上在加密货币领域打造真正商业模式的最佳时机。在本文中，我将分享一些亟待付诸实践的想法，这些想法的潜力远超普通的加密货币推特圈子。这些想法切实可行、脚踏实地，并且能够立即产生实际影响。

首先，需要特别说明的是，这类帖子通常是由风险投资人撰写的。我不是风险投资人，也不是任何类型的投资基金，更不是天使投资人。更确切地说，我无法帮助你为这些想法筹集资金。如果你联系我说你想做点什么，我会真心高兴这篇文章能启发你。但我无法给你钱。最多也就是如果我碰巧认识什么人，我可以帮你转发一条推文或者做个引荐。

我曾成功打造一家DeFi媒体公司，运营着规模较大的DeFi YouTube频道之一，并在一家大型DeFi数据公司建立了循环收入体系。

这一点很重要，因为本文中的许多想法都源于我亲身经历的机会。

I have been using DeFi products for approximately five years now. Through this experience and my work in the industry, I have gained a deep understanding of which products are effective, which ones are not, and which areas truly hold potential opportunities.

Some people might ask why I don’t implement these ideas myself. First of all, I currently oversee revenue and growth efforts at DefiLlama, and I’ve already had a significant impact on the industry. Secondly, I really want to turn some of these ideas into reality. On one hand, I hope that those who read this article won’t choose to implement these ideas. But I think they’re simply too valuable to be wasted. And ultimately, I’d be happy if others can bring them to life.

Starting from the basic principles

is helpful in determining which ideas are truly useful, rather than just attracting crypto speculators. Starting from the basics will help us identify valuable ideas.

By “basic principles,” I mean a very simple question: Why are cryptocurrencies actually useful?

What advantages do they have compared to traditional finance?

Once you confront this question honestly, you can develop ideas that provide value, without relying on them being “cryptocurrencies for X” or using token incentives to get people to use applications they wouldn’t even dream of trying.

Stop forcing cryptocurrencies into areas where they aren’t suitable, and instead focus on finding businesses where cryptocurrencies can truly thrive.

Therefore, I first need to clarify the core benefits of encrypted Rails compared to traditional Rails. These include:

● Global access to capital: Using cryptocurrencies allows for cross-border fund transfers without paying any foreign exchange fees, and there are no restrictions on this.

● Immediate settlement: Services are available 24 hours a day. There is no need to wait for X working days for funds to be credited.

● Privacy: Not all cryptocurrencies offer privacy features. Only those with privacy features can truly achieve an uncensored application environment.

● Low costs: In addition to its direct advantages (such as eliminating credit card fees), this service also opens up a range of applications, such as streaming payments, which would not be possible under high fixed costs.

● Programmability and interoperability: Since digital assets are controlled by code rather than intermediaries, they can be used in decentralized applications and stored in smart contracts, thereby expanding their potential uses.

● No licensing required: Anyone can access cryptocurrencies anytime and anywhere. This makes it an ideal option for those who risk losing access to bank services, and it’s also suitable for testing financial products that typically require navigating numerous regulatory hurdles.

● Transparency: Using cryptocurrencies allows for real-time tracking of ownership and financial information on the blockchain, thereby automating complex business processes.

The views presented in this article are divided into five sections. Each section covers several aspects of the value propositions associated with cryptocurrencies:

1. Internet Capital Market: Global access to capital, programmability, and combinability; no licensing required

2. Resistance to censorship: Privacy, no licensing required, global access to capital

3. DeSci: Global access to capital, programmability, and combinability

4. Stablecoins: All the aforementioned value propositions

5. On-chain corporate governance: Transparency

The Internet Capital Market (and why this term can be misleading)

The future of cryptocurrencies, as well as the future of finance and the Internet, depends largely on the Internet Capital Market.

This term has recently gained a bad reputation. This is mainly because it’s been used to apply the concept of “meme coins” to things that aren’t even related to meme coins at all. Many of these applications involve poorly designed token economy models, and they try to turn speculation into something like ownership.

To be honest, we might need some new terms. But the framework itself is correct.

Here’s my understanding of the Internet Capital Market: A true Internet Capital Market isn’t centered around speculative tokens. Instead, it allows cash flows to have their own investment value within the Internet itself.

You can imagine a future where not only on-chain DeFi applications, but also all forms of cash flows would be tokenized.

This includes companies that generate cash flows in the real world, stocks that pay dividends, royalties, real estate, your friend’s HVAC business, applications, micro-SaaS products, as well as on-chain and off-chain assets.

These assets can be invested in, traded, and combined to create entirely new financial products. Across the globe, there are no licensing requirements, and the costs are extremely low.

This is what a true internet capital market really looks like.

I believe these markets are now mature enough for people to develop applications that allow them to raise funds on-chain and distribute cash flows to investors:

1. Small businesses

2. Micro-SaaS and information products

3. Royalties

4. Creator income

In a world where relationships with friends and family are becoming less common, what challenges do capital formation face?

Traditionally, people would seek funding from friends and relatives when starting a business. This practice still persists for small businesses and small-scale real estate transactions.

But social realities have changed. Family sizes have shrunk. Friends are spread across the world, often living in different countries.

Now, it’s not easy to get friends to contribute money, or even to raise funds in terms of logistics. The internet capital market makes all of this possible again. And across the globe, covering various asset classes.

What’s more interesting is that the cash flows generated by these investments can be re-packaged and combined with other financial products. Once the cash flows of millions of businesses and products are tokenized, we can utilize the foundational technologies that have been tested in encrypted DeFi ecosystems to create new products based on these assets.

Resistance to censorship isn’t an option anymore

Another key aspect of encrypted assets is their resistance to censorship. After all, it’s a matter of unauthorized access and privacy protection.

Public blockchains already possess features that allow for unlicensed operations, but privacy concerns remain largely overlooked.

I say this because my work currently relies on transparency on the blockchain. But for many applications, privacy is even more desirable, if not essential.

The line between allowed and prohibited things is constantly shifting

You might think you don’t need to resist censorship, but can you be sure you won’t need to do so tomorrow?

In some parts of Europe, this has already happened: suppression of dissenters, closure of bank accounts, arrests due to social media posts.

It seems obvious that political movements will lose their means of fundraising, bank accounts will be frozen, and payment channels will be completely cut off.

How will these movements continue when this happens?

The obvious answer is: encrypted networks.

In this niche market, there are several products that make use of cryptocurrencies very effectively:

1. Methods for fundraising to resist censorship by political groups: Governments around Europe are increasingly cracking down on populist parties. The ability of these parties to use banking systems will eventually be limited. Solutions based on cryptocurrencies would allow them to raise and store funds without worrying about losing their bank accounts. Privacy is also a priority to avoid retaliation against members.

2. Crowdfunding without censorship: Even those crowdfunding platforms that claim to resist censorship are ultimately subject to payment processors. In the past, activists and governments have tried to shut down such platforms by threatening payment processors. Switching to cryptocurrency payment systems can solve this problem immediately. If payments occur on decentralized networks, no one can exert pressure on these platforms. Those who oppose freedom of speech will be left with nothing but empty cries.

DeSci: The intersection of artificial intelligence and internet capital markets

Artificial intelligence makes it easier than ever for individuals and small teams to conduct original scientific research.

We have seen this in areas like protein folding and other scientific breakthroughs. Artificial intelligence can process vast amounts of literature and data, thereby uncovering connections that may take decades to discover by traditional methods.

But mere discovery isn’t enough. Bringing ideas to market still requires funding.

And this is exactly what DeSci aims to fill the gap in.

The problems that DeSci seeks to solve:

I used to work for a non-profit organization dedicated to pediatric cancer research. DeSci has many opportunities to make a difference in terms of medical funding and research efforts.

If you look at diseases that are small in scale or little-known, you’ll see that they’re usually too insignificant for pharmaceutical companies to profit from, or they can’t generate any revenue in the short term. Therefore, such diseases rely on leftover drugs or very limited financial support.

With the help of the global capital market, which operates without any restrictions, you can find people who truly care about these diseases.

By combining artificial intelligence with small teams or individuals, it’s possible to conduct meaningful research.

One of the most tragic situations is when someone suffers from an extremely rare disease—for example, there might be only 20 people worldwide who suffer from this disease. There’s almost no research available to treat such diseases, and the chances of successful research are also very low. This means that someone might still try to find a cure, and possibly succeed.

This applies to diseases that affect a wide range of people, but are overlooked by large pharmaceutical companies.

DeSci’s capital returns are important, but money alone isn’t enough to achieve success.

You also need a way to verify the results and, in some cases, to return value to donors. This involves managing intellectual property rights and royalties, as well as distributing the returns.

The use of blockchain-based unlocking mechanisms reduces management costs and allows more funds to be invested in actual research. Greater transparency also helps contributors understand where their funds are being used, thereby encouraging them to invest even more.

To make such DeSci projects more attractive to investors, one approach is to adopt the investment portfolio model used in venture capital and film financing. A successful case can serve as a model for funding other projects.

For example, an investment portfolio could include 10 innovative projects. Investors would support a series of research projects, thereby expanding the scope of breakthrough discoveries. If a certain treatment becomes successful, AI tools could help identify other areas where it can be commercialized.

Stablecoins represent one of the least controversial investment opportunities.

The supply of stablecoins has exceeded $300 billion, with additional billions added over the past two years.

The Treasury Department predicts that by the end of this decade, the scale of the global financial crisis will reach nearly $3 trillion. If you feel that the past few years have passed quickly, then in just four years, that time will have arrived.

According to conservative estimates, billions of dollars will be transferred to the blockchain; more optimistic estimates suggest that trillions of dollars will be transferred there.

This doesn’t even include data that has already been transferred to the blockchain but isn’t being utilized yet.

There are two main categories of stablecoins: savings and consumption.

A. Savings

People around the world want to hold US dollars, especially in developing countries.

Despite its flaws, the US dollar remains stable, highly liquid, and serves as the standard for global trade.

但是，利用稳定资金可以构建许多储蓄产品，其效果远超Tradfi。例如，可以想象储户会更倾向于选择自定义货币和商品篮子，并从流动性提供商(LP)的外汇交易中获得收益。

B、支出和使用

稳定币的优势包括即时结算、无跨境费用、交易成本极低以及始终可用。

已有多家企业证明这种做法是行之有效的。以下是一些非常适合应用稳定币支付的领域：

1、零工平台：劳动力套利通常涉及跨境支付和繁琐的账户间转账。

2、汇款服务：电汇服务可能是最先受到加密货币负面影响的行业。但仍有改进空间，以弥合现金支付和加密货币支付之间的最后差距。

3、灾难救援：在灾难和战区，向移动钱包分发稳定币可以绕过官僚主义、腐败和银行系统瘫痪等问题。

可编程货币和流媒体支付

稳定币的另一个关键优势在于其可编程性。

这样就能实现连续的支付流，而不是离散的支付周期。LlamaPay就是一个很好的例子。

基于这一理念，还可以开发出许多其他产品：

1、流式支付可以与工资管理软件连接。Checking in for work means that the salary starts being paid immediately; checking out means that the payment stops. Everything is precise to the second, and the funds are credited to the user's account right away. There's no need to wait two weeks to receive your salary, and there's also no need to worry about whether you'll get your money or not (this can be a problem in some regions).

2. Pay-as-you-go SaaS model. Nowadays, users are tired of subscription models. Subscription services for software and APIs can be combined with streaming payments, so users only pay when they actually use the product. This creates a clearer connection between usage and revenue, and eliminates the need for complicated processes like invoices and statements.

On-chain corporate governance (going beyond DAO)

DAO governance has become a popular topic.

But on-chain corporate governance could be one of the most transformative applications of cryptocurrencies.

Even leaders in the traditional financial industry acknowledge that on-chain voting significantly reduces operational costs. Larry Fink, CEO of BlackRock, wrote: “Tokenization makes everything easier, as ownership and voting rights are tracked digitally, allowing users to vote securely and seamlessly from anywhere.”

The reason why DAO governance fails is that people try to implement direct democracy, which is a poor approach.

What should an ideal on-chain governance model look like?

Token holders worry that their tokens have no real value. This concern is often justified.

But the solution isn’t to vote on everything.

Corporate governance should be modeled after company structures, with clear definitions of rights and responsibilities. The interests of minority shareholders should be protected. The board of directors should be elected, and management should be appointed by those in positions of authority.

Daily decisions should never be made by shareholders or token holders. Instead, token holders should elect a board of directors to appoint management. Alternatively, if the board involves too many legal issues, shareholders can directly elect a CEO to oversee company operations. This can be achieved through blockchain-based coding, allowing multiple token holders to vote on decisions regarding how company funds are used.

A product that can replicate this corporate structure on the blockchain is currently being developed.

From cryptocurrency governance to traditional corporate structures

, thousands of existing protocols form a sandbox for testing and iteration. If this approach works, it can be used for stress testing, verification, and further refinement.

In the end, this approach could be applied to real companies with both on-chain equity and on-chain shareholder voting rights.

In this way, there is a clear path from niche DAO tools to public stock market infrastructure.

Other on-chain corporate governance products

As the ecosystem for on-chain corporate governance continues to develop, various other related products will also have opportunities for growth.

● Quarterly and other financial reports: In the past few years, the cryptocurrency market could have avoided many of the problems and uncertainties by implementing standardized processes for financial disclosure, fund flow management, token issuance, repurchases, and handling of major events. All these tools could also be applied to other blockchain-based businesses in the future.

● Mergers and acquisitions tools: As cryptocurrency teams run out of funds, there will likely be a wave of mergers and acquisitions. Platforms can take advantage of this opportunity to implement these mergers in a way that benefits existing token holders: allowing token swaps, payments, fund integration, etc. All operations should be transparent.

● Tools for listed companies to launch blockchain-based voting: Tools are available for listed companies to experiment with and gradually introduce blockchain-based voting without disrupting the existing structure.

● Compensation management: Tools for managing performance-based bonuses (verified through blockchain-based milestones), sense of ownership, and other forms of compensation.

Compound interest effect: A positive cycle within the blockchain ecosystem

One of the advantages in the coming years is that every real cash flow and payment stream introduced onto the blockchain will make the DeFi infrastructure more useful and increase the value of other tokens.

All the ideas mentioned in this article could potentially create real value in the future. But the true miracle lies in the fact that thousands of real businesses can operate on the blockchain, and DeFi tokens that have been tested over the past five years can be reused to generate these external cash flows.