an investors view on blockchain
TRANSCRIPT
Paradigm Shift1. Next phase of The Web2. Decentralises centralisation of Web 2.03. Outdated rentier / platform models4. Collaborative economies at scale5. Core function likely not business 6. Not about owning code its about creating
markets
What is the value they can bring?
Provenance P2P Exchange
Digital Trust
Supply Chains
Task Automation
Distributed Database Auditability
B2B Marketplaces
Identity Paperless Security Transparency
GovernanceRedundancyReduce Fraud
Sharing Economy
B2C Marketplaces
M2M
Liquidity
Asset Integrity Back Office
3 x Opportunities
1.Trying to fix legacy systems2.Disrupting disruptors3.Real innovation in emerging
markets
Risks & Challenges1. Timing. Being first not
always best.2. Tech Infrastructure
Building Blocks3. Scalability & Costs4. Barriers to entry lower5. Race to free (leaves with
regulated services)
What I say to investors / startups
1. Even riskier than normal early stage2. More than ever investing in people /
teams3. No idea is unique.. For long4. Stealing advance in a general direction5. Blockchain 10% practice 90% planning6. Borrow more than you build
BitcoinExperiment
BaaS
‘Open Ledger’ Standards
Mainstream
Early Market
Crossing the chasmWidening of vertical use cases Use-case
CrossoverAligned markets
Trough of disillusionment = Good
1. DAO & Split2. Stop corp. brain
drain3. Consulting
distraction4. Sense check5. Professionalisation6. Learn on others
money
8 x Building Blocks1. Bridges / Interoperability 2. Identity 3. Reputation4. Clear Roles & Responsibilities5. Usable Security6. Governance7. User Friendly Security8. Stable Tokens of Exchange9. Economically Viable Tokens of
Exchange
Most Excites Me1. True P2P
markets2. Accelerator:
Ability to securely scale macro trends
3. Combinator: allows macro trends to combine
Fundraising Overview
Coindesk tracking 138 VC-backed
totalBCA Tracker has
1,000 VC and non-VC backed
Biggest deals in Q2 Circle Series D @
$60m Quione @ $16m
Bit Flyer @ $27m
Elliptic @ $5.0mFluent @ 1.65m
Mediachain @ 1.5mTierion @ $1m
If you exclude theDAO
ICO – Initial Coin Offering• ICO the new ‘pre seed’• Unique to blockchain. Self funding mechanism• Still only 0.05% of global crowdfunding• Unclear regulatory position (SEC, tokens as securities)• Positioned as ‘future access to a network’• Small pool of ‘buyers’ (Razormind: $1.9m from 290 individuals)