1 00:00:00,240 --> 00:00:03,660 Robert Plank: Marketer of the day. Episode 717, digital 2 00:00:03,660 --> 00:00:07,920 storytelling, Blockchain, cryptocurrency, smart contracts 3 00:00:07,920 --> 00:00:13,140 and initial coin offerings. ICOs with cryptopreneur Dennis Lewis, 4 00:00:17,160 --> 00:00:19,620 Hey everyone, and welcome back to the marketer of the day 5 00:00:19,620 --> 00:00:23,840 podcast. We are here with Mr. Dennis Lewis, who is a seasoned 6 00:00:23,840 --> 00:00:27,440 digital storyteller. He's a blockchain marketing specialist, 7 00:00:27,560 --> 00:00:30,860 and he has successfully led to market and exited multiple 8 00:00:30,860 --> 00:00:34,400 startup companies. And Dennis prides himself on his ability to 9 00:00:34,400 --> 00:00:38,180 make complex projects easy to understand and relatable. And 10 00:00:38,180 --> 00:00:41,140 we're going to be talking about all all kinds of things, like 11 00:00:41,200 --> 00:00:46,840 blockchain, cryptopreneurs, and just how you too, can take your 12 00:00:46,840 --> 00:00:50,260 idea and your reality and and not not fizzle out, right? How 13 00:00:50,260 --> 00:00:54,040 to navigate the the startup stuff and how to just get some 14 00:00:54,040 --> 00:00:56,200 things done. So Dennis, glad to be talking to you. 15 00:00:56,440 --> 00:00:58,720 Unknown: Hey, it's a great pleasure to be on your show. 16 00:00:59,799 --> 00:01:01,919 Robert Plank: Well, it's a pleasure to have you you here, 17 00:01:01,919 --> 00:01:05,219 and it's always cool to get people from different walks of 18 00:01:05,219 --> 00:01:08,759 life. And as you know, sometimes all the technology stuff changes 19 00:01:08,759 --> 00:01:12,059 so much, but at the end of the day, like it's, it's fine to 20 00:01:12,059 --> 00:01:14,519 have little hobbies and fun things to do, but we have to, 21 00:01:14,579 --> 00:01:17,939 you know, make money and grow stuff and not waste time. So 22 00:01:17,999 --> 00:01:21,199 what have you been up to say in the past six to 12 months, and 23 00:01:21,259 --> 00:01:24,799 what just has you excited these days? What has been popular, 24 00:01:24,799 --> 00:01:26,119 what's been making money for you? 25 00:01:29,180 --> 00:01:31,820 Unknown: Wow. Okay, well, sure, I'm just going to turn off the 26 00:01:31,820 --> 00:01:36,680 video there, because it's eating up some bandwidth. But, yeah, 27 00:01:36,680 --> 00:01:41,500 it's, you know, I've been in this marketing business for far 28 00:01:41,500 --> 00:01:44,440 too many years. You've seen the gray hair on my head now. So you 29 00:01:44,440 --> 00:01:49,960 know, I'm a I'm what I like to consider a crypto geezer. And 30 00:01:49,960 --> 00:01:52,540 for the last few years, we've been working almost exclusively 31 00:01:52,540 --> 00:01:56,680 with technology and blockchain technology companies. We've 32 00:01:56,680 --> 00:02:02,280 raised, helped them raise a lot of money for and we've seen just 33 00:02:02,280 --> 00:02:07,740 so many projects from the inside out. And this is an amazing area 34 00:02:07,740 --> 00:02:12,840 of innovation and promise. And I think it's just time for it to 35 00:02:12,840 --> 00:02:16,020 be delivered and put time for these, you know, these projects 36 00:02:16,020 --> 00:02:20,240 to come aboard and start making people's lives better. And you 37 00:02:20,240 --> 00:02:23,240 know, as a marketer, as I do, that it's all about solving the 38 00:02:23,240 --> 00:02:26,660 problem. It's all about making something better for somebody, 39 00:02:27,020 --> 00:02:30,740 because otherwise you're just scratching your belly button, 40 00:02:30,740 --> 00:02:31,040 right? 41 00:02:32,240 --> 00:02:35,660 Robert Plank: Yeah, yeah. And it probably feels good for you to 42 00:02:36,080 --> 00:02:39,740 change the world and to leave your your mark and so, well, you 43 00:02:39,740 --> 00:02:41,980 mentioned a couple of times here, this whole, like 44 00:02:41,980 --> 00:02:44,800 blockchain thing, I know that it's a little difficult for 45 00:02:44,800 --> 00:02:47,080 people to wrap their heads around this idea that there's 46 00:02:47,080 --> 00:02:50,140 like the cloud out there, and because things are kind of 47 00:02:50,260 --> 00:02:54,880 distributed in a way, then things are kind of permanent 48 00:02:54,880 --> 00:02:57,940 there and set in stone, and you can't delete data because it's 49 00:02:57,940 --> 00:03:02,820 all out there. And that has that as ways that can be used in 50 00:03:02,820 --> 00:03:06,540 money, but also non money uses, right? 51 00:03:06,899 --> 00:03:09,839 Dennis Lewis: Oh, definitely. So, yeah, let's, let's kind of 52 00:03:09,839 --> 00:03:12,479 jump from the beginning and say, you know, a blockchain 53 00:03:12,479 --> 00:03:16,799 technology is nothing more than a really fancy bookkeeping 54 00:03:16,799 --> 00:03:20,119 system. All it is is an accounting system. It's for 55 00:03:20,119 --> 00:03:24,499 keeping track of data, of transactions. And the thing that 56 00:03:24,499 --> 00:03:28,519 makes it so special is that, as you just said, it's distributed 57 00:03:28,519 --> 00:03:31,999 over 1000s of computers all around the world, working 58 00:03:31,999 --> 00:03:36,559 together, synchronized, which means that it's it's very 59 00:03:36,559 --> 00:03:43,719 secure. There's no single point of failure, and it allows for a 60 00:03:43,719 --> 00:03:48,159 whole new concepts of business modeling that beforehand weren't 61 00:03:48,159 --> 00:03:51,339 weren't possible. So you're right. It has implications with 62 00:03:51,339 --> 00:03:54,219 money and with cryptocurrencies, but it goes far beyond that. 63 00:03:54,219 --> 00:03:58,479 It's blockchain can help us improve our democracy. It can 64 00:03:58,479 --> 00:04:01,679 help us improve healthcare, and it can help us improve supply 65 00:04:01,679 --> 00:04:05,399 chains. It can help us improve our So social media and 66 00:04:05,399 --> 00:04:09,659 marketing. There's just almost an unending list of use cases 67 00:04:09,659 --> 00:04:11,339 for this amazing technology. 68 00:04:12,419 --> 00:04:14,579 Robert Plank: So there's this huge list, and I have to admit 69 00:04:14,579 --> 00:04:17,339 that I've only heard like a few of the uses, because, again, 70 00:04:17,339 --> 00:04:20,399 sometimes it's really abstract, and they get into the geeks week 71 00:04:20,399 --> 00:04:24,079 and they say, well, it has this such and such redundancy. And I 72 00:04:24,079 --> 00:04:27,979 think, well, what about actual, real life purposes? And I've 73 00:04:27,979 --> 00:04:30,379 heard about things like, well, as far as, like, you mentioned, 74 00:04:30,379 --> 00:04:35,359 democracy, you can have voting where you can see what, however, 75 00:04:35,359 --> 00:04:39,079 when voted, but it doesn't reveal, like, the identities. 76 00:04:39,199 --> 00:04:42,879 And things like, I know someone who has, like a dating app where 77 00:04:42,879 --> 00:04:47,079 two people can, like Mark in the app that they both consented, 78 00:04:47,439 --> 00:04:50,859 and it like stores it, you know, in the in the blockchain. So 79 00:04:50,859 --> 00:04:54,579 that way it's like a real verifiable sort of thing. So 80 00:04:54,699 --> 00:04:57,579 with all the possibilities, all things happening, are there, 81 00:04:57,579 --> 00:05:02,339 like, maybe one or two air. Is where this blockchain thing is 82 00:05:02,339 --> 00:05:05,399 really going to do something new and crazy, and it has you really 83 00:05:05,399 --> 00:05:05,999 excited, 84 00:05:06,840 --> 00:05:10,140 Unknown: sure. So you know, the voting thing you said is 85 00:05:10,140 --> 00:05:13,980 interesting, but you know, voting fraud probably isn't 86 00:05:13,980 --> 00:05:19,380 really that big of a problem, at least in the US, in other 87 00:05:19,380 --> 00:05:24,560 countries, it may very well be but one of the but let me. Let 88 00:05:24,560 --> 00:05:28,580 me open another door similar to that. Imagine if every 89 00:05:28,580 --> 00:05:33,140 government transaction were publicly recorded on the 90 00:05:33,140 --> 00:05:37,280 blockchain, and we could actually go in there and see 91 00:05:37,340 --> 00:05:40,360 every transaction that the government makes, and follow the 92 00:05:40,360 --> 00:05:45,400 trail and know that. You know, every time they spend our tax 93 00:05:45,400 --> 00:05:49,900 money there, it's, it's immutably recorded for everybody 94 00:05:49,900 --> 00:05:55,120 to be able to make sure and see if it's a valid use. That's a 95 00:05:55,180 --> 00:05:58,720 that's a pretty amazing thing. I mean, imagine, you know, then 96 00:05:58,720 --> 00:06:02,160 being able to search that database and detect if people 97 00:06:02,160 --> 00:06:04,800 are getting kickbacks, or if money is going in strange 98 00:06:04,800 --> 00:06:07,980 circles, or, you know, who's actually receiving the funds, 99 00:06:07,980 --> 00:06:11,040 you know, these sorts of questions would be pretty 100 00:06:11,040 --> 00:06:16,200 awesome, or for making us aware of, really, how they're using 101 00:06:16,200 --> 00:06:17,220 our resources. 102 00:06:18,839 --> 00:06:21,259 Robert Plank: And I And as you're explaining, describing 103 00:06:21,259 --> 00:06:24,019 that, I imagine that maybe people think that might be a 104 00:06:24,019 --> 00:06:27,559 little precarious, right? Because it is tough to get your 105 00:06:27,559 --> 00:06:31,579 head around that this, it's like a there's no way to fake it. 106 00:06:31,579 --> 00:06:35,659 It's not like one copy of these, of this ledger stored on one 107 00:06:35,659 --> 00:06:38,239 hard drive, and someone can go and edit it. It's, it's out 108 00:06:38,239 --> 00:06:40,479 there with so many multiple copies, like you 109 00:06:41,920 --> 00:06:44,620 Unknown: would say, yeah, you would have to simultaneously 110 00:06:44,740 --> 00:06:48,820 hack 1000s and 1000s of computers at the same precise 111 00:06:48,820 --> 00:06:55,000 instant to be able to actually hack the blockchain. So, yeah, 112 00:06:55,000 --> 00:06:59,200 that that is actually one of its strongest features is that it is 113 00:06:59,200 --> 00:07:04,140 immutable. It's pretty much, you know, it's mathematically. It's 114 00:07:04,140 --> 00:07:08,340 built by mathematical algorithms that make it practically, 115 00:07:08,400 --> 00:07:13,500 practically impossible to hack or to distort, which is, you 116 00:07:13,500 --> 00:07:18,960 know, definitely opens the door to all sorts of positive 117 00:07:18,960 --> 00:07:21,980 aspects. And it also opens the door to some, some, some 118 00:07:21,980 --> 00:07:24,920 complications, you know, I mean, that means that anything that's 119 00:07:24,920 --> 00:07:28,460 recorded on the blockchain, it's not going away, it's going to be 120 00:07:28,460 --> 00:07:31,820 there forever. That, you know that means you, you gotta, you 121 00:07:31,820 --> 00:07:32,780 gotta deal with that, 122 00:07:34,220 --> 00:07:36,800 Robert Plank: right? And I can see that, how that would make 123 00:07:36,800 --> 00:07:40,780 some people sort of uncomfortable. So as far as you 124 00:07:40,780 --> 00:07:43,540 and the project you've worked on, have you been working on 125 00:07:43,540 --> 00:07:47,980 this sort of thing or or like other various implementations, 126 00:07:48,160 --> 00:07:51,280 Unknown: sure. So I work with with a lot of blockchain 127 00:07:51,280 --> 00:07:54,400 companies. We we work with their messaging, we work with their 128 00:07:54,400 --> 00:07:59,740 marketing. We've we help them raise funds and and a lot of 129 00:07:59,740 --> 00:08:03,120 what I've learned is that this industry, while technologically 130 00:08:03,120 --> 00:08:06,300 very, very promising, is still in its infancy as far as 131 00:08:06,300 --> 00:08:10,380 entrepreneurship. So a lot of the projects that I've seen have 132 00:08:10,680 --> 00:08:15,120 have suffered because of very simple basics of business, you 133 00:08:15,120 --> 00:08:18,420 know, of having the right agreements in place with your 134 00:08:18,420 --> 00:08:21,860 partners, knowing what to do with the money after you've 135 00:08:21,860 --> 00:08:25,100 actually raised it, you know, and how to how to administer it, 136 00:08:25,100 --> 00:08:27,800 and how to make sure that you're not wasting the resources you 137 00:08:27,800 --> 00:08:30,440 have, and how to best communicate with your 138 00:08:30,440 --> 00:08:33,680 stakeholders so that they they understand the vision that 139 00:08:33,680 --> 00:08:37,100 you're you're building. And these are sort of the problems 140 00:08:37,100 --> 00:08:41,080 that that I've seen and that I think are are really the 141 00:08:41,080 --> 00:08:46,360 fundamental reasons why this industry is once it solves these 142 00:08:46,360 --> 00:08:50,320 problems, is going to take off, because it really is a 143 00:08:50,320 --> 00:08:53,980 technology that can improve lives. It can improve society in 144 00:08:53,980 --> 00:08:56,740 a lot of different ways. You know, one thing I like to talk 145 00:08:56,740 --> 00:09:00,720 about is healthcare. You know, every time you go to the doctor, 146 00:09:00,780 --> 00:09:04,080 you know that doctor has a database of the information that 147 00:09:04,080 --> 00:09:07,440 he takes about you, and then if he sends you to go do some 148 00:09:07,440 --> 00:09:10,560 tests, then they give there's some test results, and those are 149 00:09:10,560 --> 00:09:14,220 on somebody else's computer. And then you go to the hospital and 150 00:09:14,220 --> 00:09:18,180 that they have their own system, and all that information is 151 00:09:18,180 --> 00:09:22,340 spread out in all these sort of vaguely disconnected systems, 152 00:09:22,640 --> 00:09:26,180 and you have no control over it. You it doesn't belong to you, 153 00:09:26,480 --> 00:09:30,680 and it's all your intimate health information. Imagine if 154 00:09:30,680 --> 00:09:35,240 we could turn that over and you controlled the keys to all of 155 00:09:35,240 --> 00:09:39,200 your health information, and you decided when the doctors should 156 00:09:39,200 --> 00:09:42,940 have access to it, and to what and when that access should be 157 00:09:42,940 --> 00:09:48,400 revoked now, now your information is all is available 158 00:09:48,400 --> 00:09:52,900 to whoever needs it, but with your consent that those are the 159 00:09:52,900 --> 00:09:56,920 sort of models that before the blockchain were practical and 160 00:09:56,920 --> 00:09:59,920 practically impossible, and now they're becoming possible. 161 00:10:01,080 --> 00:10:04,860 Robert Plank: Yeah, this sounds amazing once we can get some of 162 00:10:04,860 --> 00:10:08,400 the stubbornness out of the way, right, once we can get people, 163 00:10:08,820 --> 00:10:12,000 like, making whatever agreements or adopting some of these 164 00:10:12,000 --> 00:10:15,480 systems. And you know, as you're describing some of this, I'm 165 00:10:15,480 --> 00:10:19,320 not, I'm honestly not sure about the answer to this question, but 166 00:10:19,440 --> 00:10:22,460 I'm guessing that maybe there might be some kind of, like, a 167 00:10:22,460 --> 00:10:25,400 little bit of, like, the.com frenzy, as you remember, like, 168 00:10:25,520 --> 00:10:29,120 you know, 20 years ago, there was that whole problem of, if 169 00:10:29,120 --> 00:10:32,840 someone was an internet company, then some of these venture 170 00:10:32,840 --> 00:10:35,180 capitalists would just, like, give them money, and not really, 171 00:10:35,180 --> 00:10:37,700 they weren't really sure, like, what they were creating, and the 172 00:10:37,700 --> 00:10:40,660 software wouldn't really work. And I mean, is there any of that 173 00:10:40,660 --> 00:10:44,200 happening with, like the blockchain and the AI stuff. Are 174 00:10:44,200 --> 00:10:47,320 there, like, investors out there who just jump on and they're 175 00:10:47,320 --> 00:10:50,140 just excited, but then no one really knows what they're 176 00:10:50,140 --> 00:10:52,360 supposed to do, and then there's a lot of kind of, like, you 177 00:10:52,360 --> 00:10:53,980 know, money going up in flames. 178 00:10:54,220 --> 00:10:58,600 Unknown: Yeah, 2017 was a crazy year. I'll tell you that in 2017 179 00:10:59,680 --> 00:11:03,840 there was more money raised for blockchain startups through 180 00:11:04,140 --> 00:11:08,340 through token sales, through ICOs, than the entire, you know, 181 00:11:08,340 --> 00:11:11,940 startup venture capital market. Just to give you an idea of the 182 00:11:11,940 --> 00:11:15,840 scale, and you're right, a lot of that money went up in flames. 183 00:11:15,840 --> 00:11:18,780 And it went up in flames for some of the business reasons I 184 00:11:18,780 --> 00:11:22,700 was talking about earlier. Like any new industry, there's a lot 185 00:11:22,700 --> 00:11:25,460 of hype, there's a lot of there's a learning curve. This 186 00:11:25,460 --> 00:11:32,420 isn't, you know, there that was a very wild west sort of time. 187 00:11:32,660 --> 00:11:35,540 Fortunately, I think we're, we're getting over that. That's 188 00:11:35,540 --> 00:11:39,680 kind of the market has, has corrected itself a bit, and 189 00:11:40,340 --> 00:11:44,560 we're starting to realize that the good of everybody in for the 190 00:11:44,560 --> 00:11:48,460 industry and for, you know, everybody involved, is that 191 00:11:48,640 --> 00:11:52,000 projects have to deliver. They have to deliver on the promises 192 00:11:52,000 --> 00:11:55,060 they make, and they have to, they have to be real, because 193 00:11:55,060 --> 00:11:59,560 otherwise it's just, you know, it's just smoke and mirrors, and 194 00:11:59,620 --> 00:12:03,720 that, in the long term, is a pretty fragile way to build an 195 00:12:03,720 --> 00:12:07,140 industry. So that was kind of one of the reasons I wrote the 196 00:12:07,140 --> 00:12:11,400 book, is, you know, just to talk about that, because you're 197 00:12:11,400 --> 00:12:16,620 right, there was a real kind of boom mentality. And it hasn't 198 00:12:16,620 --> 00:12:19,860 gone away, but it has been tempered a bit, which is a good 199 00:12:19,860 --> 00:12:20,100 thing, 200 00:12:21,420 --> 00:12:24,140 Robert Plank: right? Right? Yeah, it's like that era that 201 00:12:24,140 --> 00:12:26,780 you mentioned there. It seemed a little scary, like with with all 202 00:12:26,780 --> 00:12:30,440 the the ICOs, or people would say, I'm launching this new 203 00:12:30,440 --> 00:12:35,480 coin, and when you buy the coin, you're basically investing in 204 00:12:35,480 --> 00:12:38,240 the shares of this company. And it sounded really shady, 205 00:12:38,360 --> 00:12:41,560 especially because, you know, here in America, you don't mess 206 00:12:41,560 --> 00:12:43,720 with the money system, right? You don't. You don't touch the 207 00:12:43,720 --> 00:12:46,000 US dollar. You don't want to infringe on any of that. That's 208 00:12:46,000 --> 00:12:49,060 like the biggest No, no. The government hates that. And so it 209 00:12:49,060 --> 00:12:53,860 seemed like just a, really, I don't know, like, scary, shady 210 00:12:53,860 --> 00:12:57,280 thing that that people were doing. And so you mentioned that 211 00:12:57,280 --> 00:13:00,460 you have you put out this book to talk about some of these 212 00:13:00,460 --> 00:13:03,480 topics. So can you tell us what this book is called, and what's 213 00:13:03,480 --> 00:13:05,460 in it and why we should get it things like that? 214 00:13:05,580 --> 00:13:07,500 Unknown: Sure. So the book is called Behold The 215 00:13:07,500 --> 00:13:12,180 cryptopreneurs, and it's out on Amazon. It's on paper version, 216 00:13:12,240 --> 00:13:17,220 it's in Kindle version. So behold the cryptopreneurs, and, 217 00:13:17,520 --> 00:13:21,260 yeah, users can also anybody listening out there. Can get the 218 00:13:21,260 --> 00:13:24,320 first four chapters for free by going to my website, 219 00:13:24,440 --> 00:13:27,980 cryptopreneurs dot club, and you can get the first four chapters 220 00:13:27,980 --> 00:13:30,560 there. You get your toe in the water, and then you could jump 221 00:13:30,560 --> 00:13:34,700 over to Amazon and grab the whole book and to go back to 222 00:13:34,700 --> 00:13:38,240 what you were saying. Well, you know, there's always two sides 223 00:13:38,240 --> 00:13:42,340 to the coin. The you're right that there were some abuses of 224 00:13:42,340 --> 00:13:47,260 the ICO kind of boom that was there, but it also gave birth to 225 00:13:47,260 --> 00:13:52,240 a some, some really interesting new phenomena, the idea that by 226 00:13:52,240 --> 00:13:57,700 creating a new a new coin and launching it, you can fundraise 227 00:13:57,700 --> 00:14:01,800 for A project and build a community of enthusiastic 228 00:14:01,800 --> 00:14:09,000 people, it opens a new way of finding resources for 229 00:14:09,000 --> 00:14:13,440 interesting projects that kind of goes beyond, dare I say, the 230 00:14:13,440 --> 00:14:18,660 gentleman's club of VC right the venture capital is very much a 231 00:14:18,660 --> 00:14:21,800 closed sort of circuit of who do You know, and are you in the 232 00:14:21,800 --> 00:14:25,820 right place? And you know, this opened the door to a lot of 233 00:14:26,360 --> 00:14:29,840 really interesting projects. So some of them have failed. Some 234 00:14:29,840 --> 00:14:33,320 of them failed spectacularly. Some were scams. You're right, 235 00:14:33,860 --> 00:14:36,680 but a lot of other ones are out there still working really hard, 236 00:14:36,680 --> 00:14:41,260 and they're and they're delivering. So I don't, I think 237 00:14:41,260 --> 00:14:46,180 that, you know, we need to learn the lessons, and obviously you 238 00:14:46,240 --> 00:14:49,180 projects have to play, by the way, the rules, and they have to 239 00:14:49,180 --> 00:14:52,060 be, if you're offering a security, then you have to 240 00:14:52,120 --> 00:14:55,240 follow the securities law. I mean, that's just common sense. 241 00:14:55,240 --> 00:14:58,480 I mean, you know, doesn't matter how you do something if you're 242 00:14:58,480 --> 00:15:02,460 if you're doing it, you have to do it. Legally. And I think a 243 00:15:02,460 --> 00:15:05,340 lot of projects have realized that, you know, there were some 244 00:15:05,340 --> 00:15:10,080 corners were, were cut, maybe, but in the long run there, it 245 00:15:10,080 --> 00:15:11,220 needs to be done right, 246 00:15:12,660 --> 00:15:14,820 Robert Plank: right? And the way you're striving that it seems 247 00:15:14,820 --> 00:15:18,420 like it's, it's kind of like, you know, any tool can be used 248 00:15:18,420 --> 00:15:21,800 good or used bad, like a hammer. You can use it to hammer nails 249 00:15:21,800 --> 00:15:25,100 and build a house, or use it to break a window steal something. 250 00:15:25,100 --> 00:15:28,880 So it's how you use it, and so, so in this book, like, what, 251 00:15:29,180 --> 00:15:33,200 just what sort of like categories, areas do you go into 252 00:15:33,200 --> 00:15:34,040 in this book? 253 00:15:36,380 --> 00:15:39,140 Unknown: So I talk about, you know, from a sort of a holistic 254 00:15:39,140 --> 00:15:43,300 point of view, for two sides. One is for the industry. You 255 00:15:43,300 --> 00:15:48,340 know, the problems I've seen and and the solutions that I propose 256 00:15:48,340 --> 00:15:53,320 for fixing some of these problems, and also for this the 257 00:15:53,320 --> 00:15:56,920 entrepreneur in general, I try to open their eyes to some of 258 00:15:56,920 --> 00:16:01,080 the possibilities, because I believe that every entrepreneur 259 00:16:01,080 --> 00:16:04,440 right now needs to be learning about crypto, learning about 260 00:16:04,440 --> 00:16:08,100 blockchain, and at least minimally thinking about how 261 00:16:08,100 --> 00:16:11,340 they can leverage it to make their business better, because 262 00:16:11,340 --> 00:16:14,340 it's gonna happen, and if you're not doing it, your competitor 263 00:16:14,340 --> 00:16:18,180 will be, you know, just even if it's just right now sticking 264 00:16:18,180 --> 00:16:21,440 your foot in The water and accepting cryptocurrency as 265 00:16:21,440 --> 00:16:24,920 payment for your products and your services. That's a very 266 00:16:24,920 --> 00:16:29,840 good first step. And you know, there's $250 billion in digital 267 00:16:29,840 --> 00:16:32,960 assets out there that a lot of people don't know where to spend 268 00:16:32,960 --> 00:16:39,020 them. And you know, getting getting real resources that way 269 00:16:39,020 --> 00:16:43,960 is a is an awfully good idea in my in my opinion. So I cover, I 270 00:16:43,960 --> 00:16:47,500 cover things like a hat, you know, a concept we call a 271 00:16:47,500 --> 00:16:51,160 distributed ICO. I talk about some of the pitfalls, some of 272 00:16:51,160 --> 00:16:54,640 the dangers, some of the, you know, the ways that you can 273 00:16:55,060 --> 00:16:58,780 entrepreneurs can leverage this technology to to build better 274 00:16:58,780 --> 00:16:59,500 businesses. 275 00:17:01,000 --> 00:17:03,600 Robert Plank: Well, great. And it's like that saying that from 276 00:17:03,600 --> 00:17:07,860 Bill Gates, that all you have to do is figure out where the waves 277 00:17:07,860 --> 00:17:10,440 coming right like there's a new wave coming every three to five 278 00:17:10,440 --> 00:17:13,680 years, position yourself in front of the wave, and then that 279 00:17:13,680 --> 00:17:16,140 way you can reap the benefits and and like you said, they're 280 00:17:16,140 --> 00:17:19,440 always going to be those businesses that just stay 281 00:17:19,440 --> 00:17:23,900 stagnant and aren't tuned into the latest and greatest things 282 00:17:23,900 --> 00:17:27,260 happening. So we have that decision to make, to either be 283 00:17:27,260 --> 00:17:29,900 one of those businesses that is never really on the cutting 284 00:17:29,900 --> 00:17:32,660 edge, it's always a little bit late to the party, or maybe at 285 00:17:32,660 --> 00:17:37,160 least pick up this book@cryptopreneurs.com and at 286 00:17:37,160 --> 00:17:39,680 the very least check out those first four chapters. But if you 287 00:17:39,680 --> 00:17:43,300 like what you read, get the whole book, so that way we can, 288 00:17:43,900 --> 00:17:47,200 you know, be on the cutting edge. And if this things like 289 00:17:47,200 --> 00:17:51,340 distributed ICOs for fundraising or any other purpose makes sense 290 00:17:51,340 --> 00:17:54,880 for us in our business, then we can be some of the leaders, the 291 00:17:54,880 --> 00:17:58,480 innovators, the early adopters in our industry, while everyone 292 00:17:58,480 --> 00:18:01,800 else is going to catch up. And I also imagine that even just for 293 00:18:01,800 --> 00:18:06,300 most of us getting our head wrapped around this idea of the 294 00:18:06,300 --> 00:18:10,980 distributed database, might even take a few years of just like 295 00:18:10,980 --> 00:18:14,760 thinking it over for it to finally click. So when it does 296 00:18:14,760 --> 00:18:19,260 come time for our businesses to use blockchain in some way or 297 00:18:19,260 --> 00:18:22,460 another, then this way we won't have to rush, we'll be prepared, 298 00:18:22,460 --> 00:18:26,600 or we can begin experimenting. So along the lines of looking 299 00:18:26,600 --> 00:18:29,720 ahead into the future, here Dennis, is there anything that 300 00:18:29,720 --> 00:18:33,620 is like, just like, way out there, and isn't like physically 301 00:18:33,620 --> 00:18:38,000 possible yet, but may someday be, and it's just like in its 302 00:18:38,060 --> 00:18:41,620 early stages, anything like that come to mind? As like, the real 303 00:18:41,620 --> 00:18:43,840 future blockchain stuff that excites you? 304 00:18:44,320 --> 00:18:46,420 Unknown: Well, there's two things I'd say. One is that, you 305 00:18:46,420 --> 00:18:52,000 know, it is true that blockchain is not ready yet for massive 306 00:18:52,000 --> 00:18:55,960 global levels of transactions like Visa or MasterCard or 307 00:18:55,960 --> 00:18:59,620 processing. Right now, we haven't quite achieved that 308 00:18:59,620 --> 00:19:03,180 level of transactions per second, but that, to me, is 309 00:19:03,180 --> 00:19:06,720 plumbing. It'll be there when we need it to get when it has to be 310 00:19:06,720 --> 00:19:10,980 there some they'll figure it out. I would say, though, that 311 00:19:10,980 --> 00:19:17,040 probably the idea that is most inspiring for most entrepreneurs 312 00:19:17,100 --> 00:19:22,100 is the idea of a smart contract, and a smart contract is built on 313 00:19:22,100 --> 00:19:25,160 top of the blockchain, and it's just an algorithm. It's a 314 00:19:25,160 --> 00:19:29,240 program, a computer program, you might say, that embodies a 315 00:19:29,240 --> 00:19:34,400 contract. And it could be super simple or amazingly complex, but 316 00:19:34,400 --> 00:19:37,580 let's just give an example for you. Let's imagine that you and 317 00:19:37,580 --> 00:19:39,980 I are going to joint venture, and we're going to do we're 318 00:19:39,980 --> 00:19:44,800 going to offer a product for sale, and I get 30% and you get 319 00:19:44,800 --> 00:19:49,480 70% Well, normally, in a situation like that, you would 320 00:19:49,480 --> 00:19:51,880 get paid, and then you would send me my cut, right? You would 321 00:19:51,880 --> 00:19:56,500 send me my 30% and that's okay, normally, unless, of course, you 322 00:19:56,500 --> 00:19:59,320 know you have been in the situation that we've all been in 323 00:19:59,560 --> 00:20:04,320 when you're. Partner doesn't pay you your share for XYZ reasons. 324 00:20:04,740 --> 00:20:10,260 Well, a smart contract solves that problem. Customer would pay 325 00:20:10,260 --> 00:20:13,860 the contract, and automatically, you receive your 70% I receive 326 00:20:13,860 --> 00:20:18,060 my 30% and there's no disputes. There's nothing, you know, 327 00:20:18,060 --> 00:20:21,080 there's there's no, there's no there's no cheating. There's no 328 00:20:21,740 --> 00:20:26,540 you know, it does what it does. And that's just an example of 329 00:20:26,540 --> 00:20:30,380 something really simple, a very simple smart contract. But they 330 00:20:30,380 --> 00:20:34,520 can get much more complicated, and this opens the door to all 331 00:20:34,520 --> 00:20:38,000 sorts of automated business processes that actually move 332 00:20:38,000 --> 00:20:44,140 money and and are improve efficiencies, because it doesn't 333 00:20:44,140 --> 00:20:46,600 require any administration. It doesn't require human 334 00:20:46,600 --> 00:20:49,660 intervention. Once it's deployed, it's deployed forever, 335 00:20:49,660 --> 00:20:54,160 and it will always work exactly the same way. So, you know, as a 336 00:20:54,160 --> 00:20:57,940 concept for an entrepreneur, just start imagining what you 337 00:20:57,940 --> 00:21:04,920 could do by, you know, deploying these smart contracts to improve 338 00:21:04,920 --> 00:21:08,580 the efficiency of your business and to eliminate risk and to 339 00:21:08,580 --> 00:21:12,480 reduce the time for money to flow through your business 340 00:21:12,480 --> 00:21:15,660 process, there's, there's so much to be gained there 341 00:21:16,860 --> 00:21:19,740 Robert Plank: that is super cool. And, yeah, so, so even 342 00:21:19,740 --> 00:21:23,120 that, yeah, smart contracts is something that we should look 343 00:21:23,120 --> 00:21:26,960 into. So that is all the more reason to pick up a copy of this 344 00:21:26,960 --> 00:21:30,860 book. Behold the cryptopreneurs. So that way you can maybe take a 345 00:21:30,860 --> 00:21:33,920 break from your business, or take a break from thinking about 346 00:21:33,920 --> 00:21:37,520 all the day to day busyness that you're currently dealing with, 347 00:21:37,640 --> 00:21:40,160 and let your imagine run wild. Think about some of these 348 00:21:40,160 --> 00:21:44,020 possibilities, and heck, maybe you even had in the back of your 349 00:21:44,020 --> 00:21:48,760 mind that thought, that idea of you creating some kind of a 350 00:21:48,760 --> 00:21:53,500 blockchain based platform, app, startup, well, maybe this is a 351 00:21:53,500 --> 00:21:56,560 great starting point for you to crack open this book, read 352 00:21:56,560 --> 00:22:00,100 through, get some ideas. Have Dennis explain to you the 353 00:22:00,100 --> 00:22:03,780 problems and the solutions and the possibilities. It's really 354 00:22:03,780 --> 00:22:07,260 exciting stuff, and we need to be ahead of it, not behind it. 355 00:22:07,320 --> 00:22:10,740 So cryptopreneurs dot club is the place to be. And is there 356 00:22:10,740 --> 00:22:13,860 anything that comes to mind here? Dennis to to wrap up our 357 00:22:13,860 --> 00:22:17,280 conversation here, anything you think that we either left out or 358 00:22:17,280 --> 00:22:20,780 should just throw in there at the end here, so that way people 359 00:22:20,900 --> 00:22:23,120 can get things nicely wrapped up in a bow? 360 00:22:23,839 --> 00:22:26,599 Unknown: Yeah, I think that. I think we've covered an awfully 361 00:22:26,599 --> 00:22:31,399 lot. I think it's great. Just don't let it overwhelm you. This 362 00:22:31,399 --> 00:22:34,339 is like any other technology. Yeah, there's a learning curve. 363 00:22:34,339 --> 00:22:38,539 There's some stuff that maybe stretches. You may have to 364 00:22:38,539 --> 00:22:41,979 stretch yourself a little bit to really wrap your head around it, 365 00:22:42,219 --> 00:22:45,999 but it's not that hard. You'll get there. So I would say, you 366 00:22:45,999 --> 00:22:49,539 know, now is the time to start educating yourself, start 367 00:22:49,539 --> 00:22:54,099 preparing, start thinking and start, you know, trying to 368 00:22:54,099 --> 00:22:57,399 position your business ahead of that wave. Because it's not just 369 00:22:57,399 --> 00:23:01,919 a little wave. This is a real tsunami coming so this is one to 370 00:23:01,919 --> 00:23:02,399 watch, 371 00:23:03,480 --> 00:23:06,780 Robert Plank: so be prepared. So cryptos, cryptopreneurs, dot 372 00:23:06,780 --> 00:23:09,360 club is the place to go, and the book is, behold the 373 00:23:09,360 --> 00:23:12,120 cryptopreneurs. We'll see you. There, go, there, grab it. 374 00:23:12,120 --> 00:23:14,340 You're gonna love the book, I promise. And thanks so much 375 00:23:14,340 --> 00:23:16,980 Dennis for stopping by and telling us what we need to know 376 00:23:16,980 --> 00:23:20,160 about all kinds of subjects that we covered. Right? ICOs, 377 00:23:20,160 --> 00:23:23,000 Blockchain startups really appreciated our conversation 378 00:23:23,000 --> 00:23:23,900 here. Thank 379 00:23:23,900 --> 00:23:26,000 Unknown: you very much. It was, it was a lot of fun. I enjoyed 380 00:23:26,000 --> 00:23:26,180 it. 381 00:23:30,020 --> 00:23:33,140 Robert Plank: Please subscribe, rate and review our show at 382 00:23:33,140 --> 00:23:37,880 marketer of the day.com/itunes and like us on Facebook at 383 00:23:37,880 --> 00:23:41,060 marketer of the day.com/facebook, you.