$CASHCAT
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When is it actually the right decision to build infrastructure before validation? Most startup advice says to validate before building. This makes sense when the core experience can be tested manually or with a simple prototype. However, some blockchain products depend on infrastructure that users never see directly, such as settlement, wallet flows, permissions, liquidity, compliance, audit records and cross-chain execution. Without at least some of these elements working, the test may not resemble the real product at all. This creates a difficult boundary. Building infrastructure first can be a necessary cost of learning. However, it can also become an expensive way to avoid finding out whether there is actually a market for the product.