{"id":212,"date":"2014-06-20T02:51:00","date_gmt":"2014-06-20T02:51:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/imagine-bitcoin-valley\/"},"modified":"2014-06-20T02:51:00","modified_gmt":"2014-06-20T02:51:00","slug":"imagine-bitcoin-valley","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2014\/06\/imagine-bitcoin-valley.html","title":{"rendered":"Imagine a Bitcoin Valley&#8230;!"},"content":{"rendered":"<div style=\"text-align: justify;\">\n<b><\/b>(<a href=\"http:\/\/www.politico.com\/magazine\/story\/2014\/06\/turn-detroit-into-drone-valley-107853.html#ixzz358wGjfax\">Politico<\/a>)<b> The popular recipe for creating<\/b> the \u201cnext\u201d Silicon Valley goes something like this:\n<\/div>\n<ul style=\"text-align: justify;\">\n<li>\n  Build a big, beautiful, fully equipped technology park;<\/li>\n<li>\n  Mix in R&amp;D labs and university centers;<\/li>\n<li>\n  Provide incentives to attract scientists, firms and users;<\/li>\n<li>\n  Interconnect the industry through consortia and specialized suppliers;<\/li>\n<li>\n  Protect intellectual property and tech transfer; and,<\/li>\n<li>\n  Establish a favorable business environment and regulations.<\/li>\n<\/ul>\n<div style=\"text-align: justify;\">\n<p>Except \u2026&nbsp;<a href=\"http:\/\/lkyspp.nus.edu.sg\/aci\/wp-content\/uploads\/sites\/4\/2013\/04\/Industrial-cluster-Development-and-Innovation-in-Singapore.pdf\" target=\"_blank\">this approach<\/a> to innovation <a href=\"http:\/\/www.development.wne.uw.edu.pl\/uploads\/Courses\/ied_porter_2000.pdf\" target=\"_blank\">clusters<\/a> hasn\u2019t really worked. Some have even <a href=\"http:\/\/www.washingtonpost.com\/national\/on-innovations\/industry-clusters-the-modern-day-snake-oil\/2011\/06\/19\/gIQAMtx3EI_story.html\" target=\"_blank\">dismissed<\/a><br \/>\n these government-driven efforts as \u201cmodern-day snake oil.\u201d Yet<br \/>\npolicymakers are always searching for the next Silicon Valley because of<br \/>\n the critical link between tech innovation, economic growth and social<br \/>\nopportunity.<\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\n<p>        Previous efforts at such clusters&nbsp;<a href=\"http:\/\/www.technologyreview.com\/news\/516506\/silicon-valley-cant-be-copied\/\" target=\"_blank\">failed<\/a><br \/>\n for a variety of reasons, but one big reason is that government efforts<br \/>\n alone simply don\u2019t draw people. That\u2019s why a recent crop of experiments<br \/>\n has focused more on building&nbsp;<a href=\"http:\/\/www.feld.com\/wp\/archives\/2014\/04\/empirical-support-boulder-thesis.html\" target=\"_blank\">entrepreneurial communities<\/a>, urban <a href=\"http:\/\/www.wired.com\/2014\/01\/zappos-tony-hsieh-las-vegas\/\" target=\"_blank\">hubs<\/a> and <a href=\"http:\/\/www.brookings.edu\/about\/programs\/metro\/innovation-districts\" target=\"_blank\">districts<\/a>, and <a href=\"http:\/\/www.ihub.co.ke\/about\" target=\"_blank\">hackerspaces<\/a>. Still, we\u2019re \u201csplitting the logic\u201d on how to create an innovation ecosystem,&nbsp;according to MIT expert Fiona Murray in&nbsp;<a href=\"http:\/\/www.technologyreview.com\/news\/516501\/in-innovation-quest-regions-seek-critical-mass\/\" target=\"_blank\"><i>Technology Review<\/i><\/a>:<br \/>\n We\u2019re either going top-down by focusing primarily on<br \/>\ninfrastructure\u2014plunking down an office park next to a university\u2014or<br \/>\nbottom-up by focusing on just the networks. None of these efforts<br \/>\nsuccessfully pursue both paths at once, with government, academia and<br \/>\nentrepreneurial communities proceeding together in lockstep\u2014as was the<br \/>\ncase in the <a href=\"http:\/\/steveblank.com\/secret-history\/\" target=\"_blank\">development of Silicon Valley<\/a>. &nbsp;<\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\n But policymakers shouldn\u2019t be trying to&nbsp;<i>copy<\/i>&nbsp;Silicon<br \/>\n Valley. Instead, they should be figuring out what domain is (or could<br \/>\nbe) specific to their region\u2014and then removing the regulatory hurdles<br \/>\nfor that particular domain. Because we don\u2019t want 50 Silicon Valleys; we<br \/>\n want <a href=\"https:\/\/twitter.com\/pmarca\/status\/426587326861430785\" target=\"_blank\">50 different<\/a> variations of Silicon Valley, all unique from each other and all focusing on different domains.<\/div>\n<div class=\"separator\" style=\"clear: both; text-align: justify;\">\n<a href=\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2014\/06\/bitcoin-gold-1024x512.jpg\" imageanchor=\"1\" style=\"margin-left: 1em; margin-right: 1em;\"><img loading=\"lazy\" decoding=\"async\" border=\"0\" height=\"200\" src=\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2014\/06\/bitcoin-gold-1024x512.jpg\" width=\"400\" \/><\/a><\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div class=\"p3Global\" id=\"widgetMagazineGlobalSponsoredContent\" style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\n<p>     Imagine a Bitcoin Valley, for instance, where some country fully<br \/>\n legalizes cryptocurrencies for all financial functions. Or a Drone<br \/>\nValley, where a particular region removes all legal barriers to flying<br \/>\nunmanned aerial vehicles locally. A Driverless Car Valley in a city that<br \/>\n allows experimentation with different autonomous car designs,<br \/>\nredesigned roadways and safety laws. A Stem Cell Valley. And so on.<\/p><\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\n There\u2019s<br \/>\n a key difference from the if-you-build-it-they-will-come argument of<br \/>\nyore. Here, the focus is more on driving regulatory competition&nbsp;between<br \/>\ncity, state and national governments. There are many new categories of<br \/>\ninnovation out there and entrepreneurs eager to go after opportunities<br \/>\nwithin each of them. Rethinking the regulatory barriers in specific<br \/>\nindustries would better draw the startups, researchers and divisions of<br \/>\nbig companies that want to innovate in the vanguard of a particular<br \/>\ndomain\u2014while also exploring and addressing many of the difficult<br \/>\nregulatory issues along the way.<\/div>\n<div style=\"text-align: justify;\">\n Why this approach? Compared with<br \/>\n previous innovation-cluster efforts where governments contrived to do<br \/>\nsomething unnatural, this proposal flows from what governments naturally<br \/>\n do best: create, or rather, <i>relax<\/i> laws.<\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\n Another<br \/>\nadvantage of this approach is that it\u2019s a way for clusters to<br \/>\ndifferentiate from each other and successfully compete for resources.<br \/>\nThink of it as a sort of \u201cglobal arbitrage\u201d around <a href=\"http:\/\/www.nytimes.com\/2012\/05\/25\/opinion\/keep-the-internet-open.html\" target=\"_blank\">permissionless innovation<\/a>\u2014the<br \/>\n freedom to create new technologies without having to ask the powers<br \/>\nthat be for their blessing. Entrepreneurs can take advantage of the<br \/>\ndifference between opportunities in different regions, where innovation<br \/>\nin a particular domain of interest may be restricted in one region,<br \/>\nallowed and encouraged in another, or completely legal in still another.<br \/>\n For example, the laws and guidelines for <a href=\"http:\/\/www.missouridronejournalism.com\/2013\/04\/what-flies-when-it-comes-to-drone-laws-across-the-globe\/\" target=\"_blank\">using drones<\/a> or taxing <a href=\"https:\/\/holytransaction.com\/page\/what-is-bitcoin\">bitcoin<\/a> already vary widely across the globe, just as they do for <a href=\"http:\/\/blogs.kqed.org\/newsfix\/2014\/03\/03\/lyft-uber-regulation\/\" target=\"_blank\">ride-sharing services<\/a> across different cities in the United States.<\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\n But<br \/>\n the biggest advantage of the 50-different-Silicon Valleys approach<br \/>\nisn\u2019t just in what it affords isolated regions or entrepreneurs\u2014it\u2019s in<br \/>\naccelerating innovation everywhere. Removing regulations across<br \/>\ndifferent regions allows multiple innovation categories to advance<br \/>\ntogether at once, in parallel, without being bottlenecked by time or<br \/>\nplace.<\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\n So what are the risks? Well, there\u2019s a real possibility<br \/>\nthat advanced regions will essentially outsource or \u201cregulate away\u201d<br \/>\ntheir own risk at the expense of less advanced ones. To get ahead,<br \/>\npoorer countries may become more tempted to take on the very things<br \/>\nwealthier countries are fencing out of their borders. But as long as the<br \/>\n innovations aren&#8217;t life-threatening\u2014and many of the restricted domains<br \/>\naren&#8217;t (the restrictions are often protecting incumbent interests)\u2014a<br \/>\nmodel like this one provides a much faster and more feasible way for<br \/>\ndeveloping regions to catch up. Especially when you consider the<br \/>\nadvantage that previous innovation clusters didn\u2019t have: mobile.<\/div>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>(Politico) The popular recipe for creating the \u201cnext\u201d Silicon Valley goes something like this: Build a big, beautiful, fully equipped technology park; Mix in R&amp;D labs and university centers; Provide incentives to attract scientists, firms and users; Interconnect the industry through consortia and specialized suppliers; Protect intellectual property and tech transfer; and, Establish a favorable [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":743,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,77,82,299],"tags":[765,771,975],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Imagine a Bitcoin Valley...! 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