> Why do you think people need credentials to create a startup if they have a good idea?

They don't. But good credentials are a signal in a crowded field where most projects are just whitepapers.

They might not matter in the startup world where you usually launch with at least an MVP. But in the crypto world, most new coins are just whitepapers. You at least need to know that the founders have the technical knowhow to bring the whitepaper to life.

I think it's simply the nature of crowdsourced funding that creates more ideas that get funded, both good and bad.

For example, anyone can start a funding campaign to launch a product on Indiegogo and most of the projects on there aren't revolutionary.

The same thing occurs in crypto where anyone can invest in a new ideas via a token sale or DAO because crypto is borderless and open to anyone, analogous to Indiegogo projects getting funding from non-institutional investors and many of those projects becoming a flop.