Entrepreneurship is one such area where cryptocurrencies are helping founders to build their businesses entirely on crypto. Bitcoin and other digital assets are being used by an increasing number of businesses throughout the world for a variety of operational, investment, and transactional purposes. As with any frontier, there are unknown dangers, but there are also great incentives while investing, trading, or building businesses using cryptocurrencies. Deciding whether or not to leverage digital assets depends upon the nature of the companies you want to build. Moreover, given the adoption of crypto assets worldwide, future businesses may be built entirely on crypto rails. In this article, we will go through how businesses can be built using cryptocurrencies as a main source of governance, fundraising, distribution of equity, raising debt, banking, and NFTs for adopters/users. Organize as a DAO Traditional organizations are governed by rules and regulations that are applied to every member of the business. However, companies can mimic their structure and establish governance rules as a source code with the advent of tokens and crypto-assets. An organization adopting a structure is called a decentralized autonomous organization. Smart contracts can help execute such code when certain conditions are met. Also, since the code is publicly audited, which helps solve the principal-agent dilemma. Communities lead DAOs, i.e., no cen...
