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RE: We're moving towards a new decentralised future
I like decentralization. But the key challenge I see in dApps is how do you continue to incentivize developers to work on the dApp after their ICO and vesting period. Maybe a second ICO perhaps? I'm unsure.
Thanks for your comment @culgin! I agree employee retention is always a challenge to companies, especially within a startup. There're indeed cases whereby developers exit the company after the vesting period and use the earnings to start another project.
As a developer myself, I'd say it depends on whether the startup is worth investing my time and effort, or will it be better if I form my own team and branch off into another project. Because developing new technologies takes time, especially in such a complicated and ever-changing field with uncertain regulations. To be honest, this ICO process is riddled with basic incentive issues —these startups get so much funds but have no legal obligation to deliver on their promises. The very reason why they forgo traditional IPO and chose ICO instead. Having said that, what reason do companies have to work hard and create good products?
That's why it's important to assess the founders' commitments, whether they're focused more on making money or generating attention than on developing working products. If they belong to the former, as a developer, I see no value in staying after vesting period. If they're really tech focus, good. I'll probably stay if the management is awesome in delivering success. Because I'll have something nice to add to my career portfolio.
As for second ICO, I believe any projects after raising funds for ICO, should at least deliver a working product. The next phase would be for them to get customers buy-in. If they need additional funds, they should be reaching out to VC or participate in more pitches to sell their projects. Nevertheless, there're also projects like Blocksquare that plan for multiple series fundings via token sale. It depends on how the project allocates their token model.