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Viewpoint: Survivor bias leads to an imbalance in the crypto ecosystem

October 9, 2021
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According to the news on October 9th, the survivor bias refers to the fact that when the channels for obtaining information are only from survivors, this information may deviate from the actual situation, and non-survivors can no longer speak up. People only see the results produced after a certain screening, but are not aware of the screening process, so they ignore the key information that has been screened out.

In the 2016-2017 era of crypto startups, many companies launched products that promised to be powered by blockchain, including blockchain social networks, communications, logistics, legal technology, e-commerce technology, etc. Most of these projects failed The reasons are very common, including product market mismatch or lack of network effect drivers for products. The winners of the early blockchain product era are mostly financial products, which leads to the dominance of financial products in cryptocurrency.

Blockchain pays so much attention to the financial economy that, in a sense, encryption has basically abandoned the real economy. From a product perspective, it is extremely important to pay attention to the development of the entire industry. Cryptocurrency must develop into an efficient market where people can easily use cryptocurrency to purchase services and products; that is, it needs to be used as a payment medium for a variety of easy-to-use and intuitive products and services, not just for use. For financial speculation.

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