❌Problem

Current unaddressed due diligence problem

Since the advent of blockchain and cryptocurrencies, there's been a disruptive shift in the investment landscape which has radically changed the scope and model of digital asset investment. Hence, the responsibility for conducting comprehensive and extensive research has increasingly fallen on retail investors, VCs, and other institutions. This change has been widely propagated through the catchphrase "Do Your Own Research" (DYOR). However, this shift has brought with it several challenges, mainly stemming from the fact that many retail investors lack the necessary research skills to effectively and rigorously analyze and evaluate the numerous facets of a project, including its market fit and technological implications. Investors who are more likely to get "retked" are the ones who lack the necessary research skills, are not risk-averse, and just following speculation

In practice, this has led to a situation where investors, often without the essential research capabilities, tend to rely on alternative and sometimes unreliable sources of information. These may include social sentiments, trends, and the influence of social media figures. This reliance on less structured sources for decision-making introduces a significant degree of vulnerability in the investment process. It can be characterized as a somewhat flawed approach, as it is prone to biases, misinformation, and a lack of comprehensive analysis, potentially leading to suboptimal investment decisions.

In essence, while DYOR emphasizes the importance of personal research, it also underscores the importance of equipping retail investors with the knowledge, tools, and resources needed to conduct due diligence effectively. Otherwise, the cryptocurrency and blockchain space may remain susceptible to speculative bubbles, misinformation, and suboptimal investments.

The blockchain ecosystem and the broader cryptocurrency space face a critical issue: the absence of robust and rigorous due diligence processes conducted collectively and collaboratively by the community. This deficiency results in a concerning trend of pump and dump where many investors, launchpads, accelerators, and enthusiasts often find themselves making investments in blockchain projects without a comprehensive understanding of these projects' market fit.

Thus, the urgency for a decentralized collective due diligence process becomes evident in light of these challenges. Fundamentally, decentralized collective intelligence championed by the community of experts and specialists aims to remove the reliance on trust assumptions and shift the evaluation and decision-making power to a broader and more diverse community. The core purpose and objective is to empower the collective wisdom and expertise of the community to critically and rigorously assess blockchain projects, reducing the risks associated with centralized decision-making.