Blockchain is moving beyond cryptocurrency, and it's worth paying attention - especially since successful prototypes show that blockchain, also known as distributed ledger technology, will be transformative.

Building a house from scratch in the middle of a field is a bit like building a prototype car. As with all prototypes, if you're building a car you usually have the luxury of producing several prototypes before you arrive at the production line version - so the opportunity for changing things is quite rich.

But having a perfume and license in general is a financial necessity. A designer must to reap back the money spent on prototypes and all that sort of thing.