Unpacking the Mongolian Startup Ecosystem


Tsolmondorj Natsagdorj is the Cofounder and CEO of YungBet is a blockchain decentralized social gaming platform that provides a secure, reliable, borderless ecosystem. He was born in Mongolian. and grew up in the US, while a student at George Mason he started Tokenplay, a blockchain gaming distribution platform in 2017 that was acquired within a year for $2.4M. He then traveled back to Ulaandbaatar, Mongolia where he helped to build up the nascent blockchain and cryptocurrency ecosystem there and now advises multiple Mongolian startups and ecosystem stakeholders.

We’ve gone through a transition, from almost like RNA, which was the previous economy to the sort of crypto economy being like DNA, and what I mean by that is the actual substrate upon which we’re building is inherently more programmable and when life went from RNA to DNA, complex organisms can be built.

Justin Banon

On this episode, you’ll learn:

  1. Does the Mongolian consist of mostly expats and foreign tech companies or are there more local entrepreneurs getting traction? [4:45]
  2. What policies implemented by the Mongolian government have been truly helpful in creating policy for startups to expand across? [6:30]
  3. In it’s current form, what is the biggest weakness in the Mongolian ecosystem? [12:00]

Recorded in partnership with

PeaceTech Lab works to reduce violent conflict using technology, media, and data to accelerate and scale peacebuilding efforts. An independent nonprofit, the Lab brings together engineers and activists, MBAs and conflict experts, social scientists, data scientists, and other innovators to put the right tools in the right hands to build peace.

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