Why RadioShack in Crypto
The most important day for any new emerging technology is the day on which it “crosses the chasm.” The moment of mass adoption among even the most skeptical consumer.
Until the iPhone, Tesla self-driving car, or Amazon.com crossed the chasm they were but an embryo in the economic womb. But after that crossing, they became trillion dollar assets (or close to it). Harvard University, says of Geoffrey A. Moore, “(the book) Crossing the Chasm has become the bible for bringing cutting-edge products to progressively larger markets.”
We intend to follow his strategy in making crypto mainstream. But currently, Moore would clearly see crypto as a tool not yet adopted by large markets.
And we mean this with no disparagement to the early blockchain adopters, as they have pushed crypto close to a $3 trillion coin market cap, not an easy feat.
Yet this is a blip on the radar of a globe with a $250 trillion estimated net worth.
"There is something fundamentally different between a sale to an early adopter and a sale to the early majority.” -Moore
We can thus infer that Crypto hasn't even gotten started yet. $3 trillion with miles to go. What an opportunity for those who come to market quickly.
RadioShack Crypto is focused on the early majority. It will become the first to market with a 100 year old brand name that’s recognized in virtually all 190+ countries in the world.
And you can't forget this classic RadioShack SuperBowl commercial:
RadioShack has one objective: Distribution and usage by millions of individuals but possibly more important, by hundreds of blue-chip, large corporations as their gateway into becoming blockchain companies.
Imagine if mainstream brands started using the RadioShack protocol for their future crypto projects.
"The number-one corporate objective, when crossing the chasm, is to secure a distribution channel into the mainstream market, one with which the pragmatist customer will be comfortable. This objective comes before revenues, before profits, before press, even before customer satisfaction. All these other factors can be fixed later - but only if the channel is established." -Moore
And this is where crypto has missed the mark. Too many focused on speculation and not enough on making the ‘old-school’ customer feel comfortable.
Notice that Moore ends by saying the word, “Established”!
And so established, well-known brands like RadioShack are the key.
Currently Crypto has no well-known brands over even 15 years old.
It is our hypothesis that the best way for crypto to be more mainstream is for an established brand name in the tech space to lead the way.
RadioShack, started in 1921 in Boston by brothers Theodore and Milton Deutschmann, was a leader in the nascent tech world for nearly a century.
Despite its pullback in the last 10 years, the brand is resolutely embedded in the global consciousness - ripe to be pivoted to lead the way for blockchain tech to mainstream adoption by other large brands.
Remember, there is a real generational gap between the average crypto buyer (in some countries like India, it’s as low as age 24) and the average corporate, decision making, global CEO who averages age 68. This demographic difference creates a substantial psychological barrier to crypto adoption. The older generation simply doesn’t trust the new-fangled ideas of the Bitcoin youth.
The need for a bridge between the CEOs who control the world’s corporations and the new world of cryptocurrencies will most likely come in the form of a well-known, century-old brand.
RadioShack is perfect.
And the first product to kickstart this long journey is a token swap.