Blockchain Experiments: A New Frontier

Think of the greatest inventions in history—the lightbulb, the airplane, the internet. Some might say the industrial revolution or even sliced bread.

Now, blockchain technology is vying to join the hall of fame. For this to happen meaningfully, those involved with blockchain technologies need to be weird, inventive, and disruptive.

RBL is participating in exactly this way: we experiment. We know that it's not just about the tech; it's the spirit of curiosity that destroys the gatekeeping of old finance. An experimental attitude is our Vulcan-forged blade, deftly cutting through the Labyrinthine twists of traditional banking.

RBL's Experimental Playbook

Our team knows that each day brings new problems to solve with no standard way to solve them. A "right answer" may not even exist. Yet.

Each day, we learn about new networks, advancements in technologies, competitors, regulations... It is up to us working in emerging technologies and modern finance to define our success and iteratively improve upon it.

We ask ourselves, "How might we..." while approaching one another with a challenge-positive attitude. Remember the improv game, "Yes, and!" - this is what our team plays together with our ecosystem partners.

It is important to remember that experiments require due diligence and process to be effective. Before tackling the problem, our teams first scope out the goals, business strategy, anticipated shortfalls, and resources. We outline roles, methodologies, and timelines. We use management and communication tools that align with the agile framework. We record all our work and iterate from there. Sometimes we scale, while sometimes we fail.

Failures are just rerouted successes. Without learning, there are no breakthroughs. Here's how we do it:

Hypothesis Formulation:

1. Identify a Need: RBL begins by pinpointing gaps or inefficiencies in the current blockchain finance landscape.
2. Develop a Hypothesis: We formulate a clear, testable statement predicting how an on-chain technology solution might address the identified need.
3. Plan the Experiment: With our ecosystem partners, we determine what success looks like, establish metrics, and outline the steps to test the hypothesis. We also consider the scope, timelines, and variables to account for.

Testing and Learning:

1. Execute the Test: We implement the blockchain project in a controlled environment. As RBL is always iterating, this often means bringing a novel solution to a practiced technology, like a money market or tokenomics recommendation; sometimes, the test is simply running the same experiment in a new environment.
2. Collect Data: With our partners, we monitor performance, gather feedback, and measure against success metrics.
3. Analyze and Adapt: We actively evaluate the results to learn what works and what doesn’t in a retrospective meeting. Then, we adapt the approach accordingly for the next iteration or deployment.

Case Studies

Rome Blockchain Labs is well aligned with the DeFi ethos. This includes the concept of transparency. We are currently compiling, formatting, and releasing a variety of case studies about our experiments for the public.

These case studies will include concepts like:

• Adopting TEAL organization values
• Empowering self-organized teams
• Reinvigorating a network with negative sentiment via a successful dApp framework
• Social media mascots
• Algorithmic trading solutions
• Niche customer fulfillment

In true blockchain form, RBL anticipates other promising blockchain projects can learn from our successes and failures. It is important to us that our burgeoning ecosystem on this emerging technology has the resources to thrive. Right now, that means sharing lessons learned to help one another.

Ready to Conquer the New Frontier?

Embark on a modern-day odyssey with us. Here, blockchain is more than a buzzword. To discuss your own blockchain experiments, or ask questions about any of ours, please reach out at [email protected] or here on LinkedIn.