Does the Influencer Economy Require a Distributed Economy?
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Starflow, which leverages blockchain technology to change the way creators, fans and brands engage online, has recently announced their upcoming Initial Coin Offering. Their ICO is widely considered one of the most anticipated public sales of 2018.
We managed to secure an exclusive interview with Founder and CEO, David Gabor, to share his vision for the future. Despite his age, David has more than 8 years of experience from entrepreneurship within design and development of disruptive digital products. At Starflow, David uses his past experience and UX/UI design and development skills to lead the visionary work alongside with the product development that brings the visions to life. At age 20, David has already raised over $3M to Starflow to bring his vision to the world.
1. You have one of the most anticipated ICOs of 2018. What inspired you to build Starflow?
I've been building and designing applications since I was 12 years old and have faced a lot of different challenges. When I got assigned a mobile solution for an Australian boyband I realised the huge demand for a platform where the artist themselves could own their data, be able to monetize their content, take personal responsibility and where no intermediaries stole their creations, revenues or data and where their fans (the consumers) received all their content in one place, with no annoying and irrelevant ads. What once was heralded as one of the most important innovations and applications on the the Internet is quickly becoming not only a force stifling innovation and distribution of value creation but a serious threat to democracy and societal sustainability. In the United States 70% of capital market growth stems from the oligopoly that is today's Social Media. The power and concentration of attention around only a few platforms is a threat to society increasingly dependent on a sustainable GIG economy where work is assigned and rewarded in just these kinds of networks. We need to take back the rights to our digital lives and create money at the point of value creation, not as a dole from a central resource allocator.
2. Why has blockchain technology enabled you to bring this new solution to creators, fans and brands?
Blockchain technology provides the absolutely essential pieces missing from the Internet from day one; legal digital identity and permission less money creation. Now that distributed technology is here, it can bring democracy to dreams and move the power from infrastructure companies back to the individual. In order to achieve our vision we will work to maximize consumer and brand experience in the ecosystem, using the customer-first approach, and implementing Blockchain as a trust accelerator to make sure we use technology optimized for individual data centric models and fast secure transactions.
3. How will you facilitate more meaningful interactions between brands and fans on the platform?
We truly believe that a distributed coin economy will drive the future towards a society were "Better capitalism" exist. Therefore we also will create a token in order to create distributed model with a better fit in a modern world. We will always make sure to build upon open DApp standards, by doing that, making sure to create maximal portability and engage ourselves and our network both as a driving force and a contributor to the distributed community. By giving creators a possibility to own and control their data, ensuring privacy and integrity for all participants, we will change the inequality in future ecosystems and make sure content monetization and participation will be rewarded to the true value creators and not only to infrastructure and the distributed networks.
4. How do you see younger generations embracing cryptocurrency? What does that tell you about the future of this space?
We are way ahead of the older generation, and the difference is shows even with just a couple of years. Our generation are all used to buying digital assets while gaming and we have all seen them grow in value. We are relaxed about volatility and have the ability and patiens to hodl them. I think we understand the impotence and value of creators and we are prepared to pay for premium, exclusive and additional content. We understand the potential of this token.
5. What is next for Starflow and how will we know if you succeeded?
There is a lot of development that will take place in order to release the full ecosystem that we envision. We need to attract and recruit a lot of superstars in order to deliver a superior product with great efficiency, scalability and lots of value-creating features. Creators, Brands, Value-, Service providers and Consumers, all want us and need us, so they will find us. It will take some time, but Rome wasn't built in a day, and this is my life time company. What we need is, as for all entrepreneurship; Commitment, Passion, Persistency and Endurance. I'm not in a hurry, I will stick with this until I'm an old man. We are working to mend a broken system and catering to build an ecosystem for the fastest growing industry in the world. We are in a sweet spot, but there is a lot of hard work to be done. You will know that we have succeeded when you are backstage with your favorite artist, when you made your entire vacation cost buy capitalising on your hobby and when you see your kids working happily full time with their dream job.