With the new year finally well underway, we can all take a final look at last year with the advantage of hindsight. We have arrived at the perfect time to reflect on an important lesson we should have learned so far and the implications for blockchain technology and the crypto markets.
Over the past year, we witnessed a parade of broadly impactful events that stymied the best of us. Further, we have watched the repercussions of world affairs ripple through the economy and our society, leaving paths of destruction in their wake. The key takeaway? No one can accurately predict or account for all the pitfalls the world may throw at us. However, if you want to succeed, the solution is simple: learn and build.
Silver Linings and Golden Opportunities
Naturally, the chaos of our interconnected world deeply affected the blockchain industry. So many projects just failed outright. Some evaporated. Others imploded. A fair number went dark, with no more updates or warnings, leaving many people with no promise or indications of a brighter day.
Few people understand the complexity of building code. That applies just as much to people in the blockchain industry as outside it. So many projects have fallen by the wayside because they focused too much on building their hype machines rather than solving real problems. Instead of focusing intently on solutions and delivering real value to their contributors, they focused on building a following. The results of that approach stand in sharp contrast to those projects that have managed to persist despite the decline.
The failures – mostly the victims of their poor planning and business plans – stand as testaments and object lessons in what not to do. Rather than adapting and learning, they quit the field and retired. Some face ruin, while others face even more dire consequences. Others will even attempt to stage a return in the future once the path becomes more manageable.
Nevertheless, some projects have remained and managed to persevere, to overcome despite the tumult. The ones that remain steadfast, growing and building despite the storm, have learned from the difficulties and adapted accordingly. These projects met the moment and continue to persist.
In all likelihood, the bulk of the remaining blockchain community will probably survive for the duration. Even with the possibility of another significant flush-out still on the horizon and more attrition remaining, most of those projects will persist once the market fully recovers. The result will be a more vibrant, robust, and ultimately more useful set of technologies for us all to employ.
The Difference
Despite the bad actors, there has been a commonality among the projects that have continued succeeding despite turbulent conditions. Ultimately, what has proven to be the deciding factor between the failed projects and those that have managed to achieve comes down to a broad but nebulous set of characteristics. We can refer to that constellation of ingredients generally as quality.
Quality can take many forms – teamwork quality, vision, and plans well-conceived and well-executed. The character of one’s quality only tends to make itself known under hardship and pressure. This truth applies equally to individuals and commercial enterprises. The easy path obscures, while the more difficult path clarifies and refines. Learning to deal with hardship often proves to be a beneficial process, much like forging steel. Just as the furnace burns out the occlusions and contaminants in the iron and carbon to create stronger alloys, a difficult road also serves as a crucible of sorts for commerce, filtering out the opportunists, the casuals, and the charlatans.
An old quote by a long-passed U.S. President, Theodore Roosevelt, applies here. For the complete speech, look here. The following excerpt is the most famous part and what bears repeating here:
“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.”
Notably, many blockchain technology developers and projects have already given up and left the field of play, and some remain who will go the distance. The best anyone can do is make unforeseen events irrelevant to the success of one’s plans. The only way to achieve that is by focusing on your best effort. Hard work makes itself known through success. Pressure, as they say, creates diamonds.
Quality Makes the Difference
In our experience, quality does not magically manifest itself through luck or fortune. Instead, it develops organically from learning from one’s own mistakes and the mistakes of others, then better moving forward because of it. Fundamentally, quality results from wise, well-intended choices made for the right reasons. It is less a state of being than a manner of doing.
Performed in the right and proper way, it requires lofty intentions, earnest effort, astute direction, and artful execution. Henry Ford once said it best. At the risk of sounding old-fashioned, “Quality means doing it right when no one is looking.” With the popularity of blockchain technology currently in the basement, very few people are looking.
The durable core industry that remains once this challenging period subsides will serve as a solid foundation for what will come. We cannot control the charts or the economy. No one can predict so-called “black swan” events in the near future. Still, we would all be wise to expect more and plan accordingly. We here at Serenity Shield are doing precisely that.
Our Time Is Now
Serenity Shield spent the entire year preparing for our time in the spotlight. Rather than seeking attention for the sake of clout, the team set itself to the tasks of learning and building. We spent the year engaging with veterans of the space – learning from their well-earned experiences, building partnerships, and implementing our long-term plan. Our efforts have proven fruitful, enabling us to turn the unpredictable turbulence of the market to our advantage.
We have dedicated our efforts to building and expanding our utility and community. We have done so with fellow travelers. With whomever else has the vision to build a better space and a better world. Our team is beyond proud of what we built and achieved over the past year, and we want to thank all of our community for the continued support and faith they have given the team. We stand humbled by the strength of resolve of our ‘Sentinels’. We will be here once the dust settles and the dawn finally breaks. It is only the beginning!
Join Us
For more information, please join us on our Telegram channel. You will be the first to know about official project announcements and developments there. Additionally, you can also find us on Twitter, Discord, and our website. Please visit our whitepaper and previous articles here for a more in-depth discussion of our project. We are always available on all of our platforms to assist with your questions.
