Common Wealth - Blockchain Startup Challenging the VC Status Quo by Democratizing Investments

In this episode of Pragmatic Talks, we welcome Tony Kelly and Jakub Dobosz, who have been instrumental in shaping the innovative blockchain startup, Common Wealth. This discussion delves deep into the unique structure of Common Wealth, a community-driven venture capital platform leveraging blockchain technology to democratize investment opportunities. Highlights of the conversation include:

🔹 Being user-centric was essential in Common Wealth success from day one

The technological innovations and user-centric approach differentiate Common Wealth in the blockchain space. Combining the best elements from Web2 and Web3 worlds makes the blockchain products exceptional. It's not only about protocols and technologies. Primarily, someone needs to use this technology, and those individuals are not always technology experts. Focusing on a user-centric approach, where the community is involved throughout the entire product development cycle, not only aids in marketing but also provides numerous opportunities to learn about user behaviors and plan future development based on that. At the end of the day, you will discover how many various user groups are interested in your blockchain product, and you might be surprised that many of them are not experienced blockchain users. To build a successful blockchain product, you need to learn about and address all of your users' groups' needs and goals. As a result, Common Wealth is already rated as one of the “smoothest to use” blockchain products on the market.

🔹 Bringing the best team onboard, aiming high and work for social good is a secret sauce

The Common Wealth team consists of the best of the best. Decades of experience in product development, gamification, marketing, investment, and finance combined bring exceptional results. The founders of Common Wealth aimed high from day one. Sometimes, even for them, the goals that had been set were very ambitious and aspirational. Realizing “how huge” their goals were, was both motivating and, at times, daunting. Developing such a complex and multi-dimensional product requires a lot of work, and when promises about deadlines are made, it can be very stressful as well. At the end of the day, the social impact the solution is already making and how it is changing regular people's lives are rewarding all the difficulties. When a woman from Africa shares that she never expected to be an investor in a startup investment fund, and how it has already changed her life, you, as a founder and team member, know that your effort matters.

🔹 What is Common Wealth?

Common Wealth challenges the regular VC funds' status quo by opening early-stage startup investment opportunities to people worldwide, regardless of their income or status. Thanks to its decentralized structure, combined with community-led marketing efforts and gamification, it is designed to be successful from day one.

👉 Learn more about Common Wealth at https://joincommonwealth.xyz/

Tune in to this enlightening discussion to understand how the Common Wealth is reshaping the landscape of venture capital through technology and community governance.

🎧 Listen now on Apple, Spotify, and YouTube.

0:00 - Intro
3:42 - Understanding the Commonwealth
5:32 - Job Titles within the Commonwealth
7:51 - Jacob's Role in the Commonwealth
8:44 - The Uniqueness of the Commonwealth
13:24 - Definition of 'User-Focused' in the Commonwealth
16:17 - The First Successful Release
30:12 - Innovations Introduced by the Commonwealth
40:10 - Success Factors at Commonwealth
45:52 - Commitment to Transparency and Community Engagement
49:55 - The Impact of Stealth Mode on Success
53:21 - Experiences Gained Over Two Years
57:01 - Advice for Young Entrepreneurs
1:01:20 - Outro