[un]fortunately this is no longer the case in the blockchain/vc world, which is the main reason you don't really hear much about new blockchain/bitcoin (or some other crypto) companies popping up and getting funded.
These days the blockchain world revolves around large companies(or groups of companies) setting things up for internal consumption and consulting companies trying to get in on the action to help those large companies with the setup.
Shit! Where's my checkbook?! I have to cut these guys a seed round before they try to actually build anything.
Otherwise it'll become apparent that this series of words have nothing to do with each other!