Invention & Innovation
I’ve been spending a lot of time getting educated on Web 3.0, DAOs, Cryptos, Distributed Ledgers, decentralized systems and more.
Even though my background is in databases and database design, my experience is in centralized systems, so I’m getting myself up to speed - not only on the technology, but the applications of the technology.
On that note, I was watching an event about DAOs and Pharma and one of the speakers was an academic-turned-CEO who mentioned the difference between INVENTION and INNOVATION.
Invention, he said, is the technology; it’s the academic discovery.
Innovation is when you take an invention and make it work commercially, make it work for people. It takes a company to build the invention into a product and get that into people’s hands so they can use it and benefit from the invention.
He was also explaining how a DAO is a “wallet with a purpose” and what they have discovered about DAOs is that when they are built to generate revenue, they become sustainable.
This has me thinking a lot - about how to use this technology to create structures with a purpose, that generate revenue to sustain the ability to fulfill the purpose?
And this is one of the many things we do at GoGlobal.
We pay close attention to what’s happening in technology and business and investing to see how we can mobilize resources - whether it’s know-how, capital, partnerships, inventions or innovation - to create people who are happier, healthier, weather, better educated, better-fed, better connected - you name it.
Leave me a comment here or send me a private message to talk more about what you’re watching and thinking about when it comes to Web 3.0.
Are you a developer, investor, inventor, or innovator in this space? Let me know.