From the archive: This episode was originally recorded and published in 2022. Our interviews on Entrepreneurs On Fire are meant to be evergreen, and we do our best to confirm that all offers and URL’s in these archive episodes are still relevant.
Domas Povilauskas co-founded and successfully exited a fast-growing SaaS startup. His understanding of network technologies and data streaming businesses led to the concept of Syntropy. He is responsible for business development and product vision.
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Guest Resource
Syntropy Net – Rethinking the Internet for everyone. Visit Domas’ website to learn more! Site – (Sorry! This link was active when this episode was first published in 2022. This site is no longer available.)
3 Value Bombs
1) Blockchain is one of the largest shifts in the way human society operates.
2) Syntropy is using blockchain technology to decentralize the Internet activity system and solve the fundamental security, privacy, and activity problems, but most importantly, the Internet monopolization and control problems.
3) Severe monopolization of the Internet market and technological limitations that existed before the blockchain technology came to life are the two key reasons there are problems with the Internet today.
Sponsor
NetSuite: NetSuite, by Oracle, is your AI powered business management suite, trusted by over 41,000 businesses! Download the free e-book, “Navigating Global Trade: 3 Insights for Leaders” at NetSuite.com/fire!
Show Notes
**Click the time stamp to jump directly to that point in the episode.
Today’s Audio MASTERCLASS: How blockchain is improving internet connectivity and networking for businesses.
[1:27] – What are blockchains all about?
- Blockchain is one of the largest shifts in the way human society operates. It is a profound game-changing technology and social phenomenon that requires multiple perspectives to look at it in order to fully grasp its whole essence and its impact.
- Most people understand blockchain as Bitcoin. Blockchain is the underlying technology for Bitcoin.
- Bitcoin is not only an enormous shift in the way humans send and receive money, but it’s also a fundamental shift in the whole understanding of how economies should operate.
- Blockchain is a shift from systems based on centralized control and authority to decentralized autonomous self-governed systems. It’s the next step in human evolution.
[6:58] – Syntropy uses the blockchain to help businesses – how?
- Syntropty’s concept came from entropy, which means expansion to chaos or complexity. Syntropy is the opposite. It is a hidden order within chaos.
- Syntropy is using blockchain technology to decentralize the Internet activity system and solve the fundamental security, privacy, and activity problems, but most importantly, the Internet monopolization and control problems.
- The mission is to be able to provide decentralized Internet access to everyone (versus getting Internet from telecom providers). People and companies would be able to connect to a decentralized activity system.
[10:04] –The flaws with Internet.
- The initial design of the Internet didn’t foresee and address the problems that we have today.
- The stagnation and lack of innovation has caused all the problems.
- The current activity system of the Internet doesn’t deal with security. You’re always exposed to various attacks.
- Syntropy is bringing in a default security system using blockchain technology.
[17:46] – A timeout to thank our sponsor!
- NetSuite: NetSuite, by Oracle, is your AI powered business management suite, trusted by over 41,000 businesses! Download the free e-book, “Navigating Global Trade: 3 Insights for Leaders” at NetSuite.com/fire!
[20:08] – Continuation of flaws with Internet.
- People don’t have the guarantee of a secure, private, transparent, and reliable internet experience – and we still pay a lot of money to use it.
- The final vision of the Syntropy project is to enable a consumer to connect at a decentralized Internet network that is not provided by any single provider – but is a decentralized network that is free.
[22:31] – Domas’ key takeaway and call to action for Fire Nation!
- Every person should care and participate; we need to work on this mission together.
- Syntropy Net – Rethinking the Internet for everyone. Visit Domas’ website to learn more! (Sorry! This link was active when this episode was first published in 2022. This site is no longer available.)
[23:20] – Thank you to our Sponsor!
- NetSuite: NetSuite, by Oracle, is your AI powered business management suite, trusted by over 41,000 businesses! Download the free e-book, “Navigating Global Trade: 3 Insights for Leaders” at NetSuite.com/fire!
Killer Resources!
1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!
2) Free Podcast Course: Learn from JLD how to create and launch your podcast!
3) Podcasters’ Paradise: The #1 podcasting community in the world!
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