William Mougayar is an author and business adviser who currently resides in Toronto, Canada. His book, The Business Blockchain has been referred to as the definitive pioneering blueprint covering the what, why and how of the blockchain. When he isn’t writing or blogging, Mougayar works on several advisory boards for blockchain-based organizations like the Ethereum Foundation and Coin Center. The Canadian crypto enthusiast is also a General Partner at Virtual Capital Ventures, a tech venture fund that focuses on early-stage investments. For his work as a writer and theorist, William Mougayar has earned a reputation as one of the most sophisticated blockchain business thinkers in the world.
The more foundational a technology is, the more impact it can have. Blockchain technology is not a process improvement technology. At its fullest deployment potential, it is rather a disruptive technology; therefore it must be given that potential when being implemented.
In an article published back in June of 2017, William Mougayar brought forth the idea that blockchain technology needs more failures in order to succeed long term. According to his piece, “Failures are important because their sum results in a new body of knowledge that is rich with useful insights and best practices.”
The Toronto-based author predicted several major failures in the future (some of which have already occurred on a minor scale) that might offer some valuable lessons for the blockchain community to learn from. These potential future mishaps include things like; ICO’s (Initial Coin Offerings) that raise money but don’t deliver, entrepreneurs that fail to provide the products promised, and applying blockchain tech where it doesn’t fit.