4. “blockchain will be to banking, law and accountancy as
The Internet was to media, commerce and advertising”
Vinod Khosla (Khosla Ventures)
“I’m reasonably confident … that the blockchain
will change a great deal of financial practice and
exchange…40 years from now, blockchain and all
that followed from it will figure more prominently in
that story than will bitcoin.”
Larry Summers, US Former Treasury Secretary
“blockchains are the biggest innovation since
the internet itself”
Marc Andreessen (Andreessen, Horowitz)
“blockchains will change everything”
Goldman Sachs
“blockchains – a revolutionary technology
too important to ignore
J.P. Morgan
“open protocols and the blockchains that
underlie them will be the driver of the next big
wave of technology and that they will force big
changes that will ultimately impact the global
economy
Fred Wilson (Union Square Ventures)
11. 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
12. 1.Trying to fixing legacy systems
2.Disrupting disruptors
3.Real innovation in emerging
markets
14. Trough of disillusionment = Good
1. The DAO & others
2. Stop corp. brain drain
3. Consulting distraction
4. Reality sense check
5. Professionalisation
6. Learn on others money
Post Peak
UK
16. Most Excites Me
1. True P2P markets
2. Accelerator: Ability
to securely scale
macro trends
3. Combinator: allows
macro trends to
combine
17. Artificial Intelligence
Internet of Things
Autonomous Robotics
Problem
Decentralized shared data layer & marketplace for AI
Secure data storage & transfer infrastructure
connecting smart objects in an affordable way
Transparent, auditable control & transaction system
for robotic networks
Augmented & Virtual
Reality
3D Printing
Secure content marketplace and infrastructure for a
virtual economy
Secure and auditable CAD-to-printer marketplace for
IP management
Siloed data with no economic
incentive to share
Centralised insecure & siloed
data with limited m2m value
exchange
Limited mass coordination
infrastructure
No secure interoperable
content channels
No secure distribution channels
blockchain potentialTechnology
19. Fundraising Overview
Coindesk tracking 138
VC-backed total
BCA Tracker has
1,100 VC and non-VC
backed
Circle Series D @
$60m
Ripple @ $55m
Juzhen @ $23m
The DAO @ $160m
ICO
Generally Early VCs from US filling gap
specialist act
ing as lead to Silicon although activity in Asia is hotting up
About 50 VC firms & 30 tech angels
Netscape web browser
Centralised largely manual human-mediated Web of rent seeking ‘trust brokers’
Decentralised highly automated decentralised and truer p2p web not just for people, but machine to machine and autonomous entities
Whats in it for us beyond intellectual kicks and bringing together our favourtie friends and thinkers
1st venture platform & fund dedicated specifically to Web 3.0
Bring together, vendors, startups, academia, corporates & investors
We hope to co-invest with many of you here today making this reality happen
A ledger to record assets & identity, and therefore transfer of ownership, which no one central party owns or controls
All assets are values tied to unique digital tokens e.g. a Bitcoin (a long number) that can only be owned by one party at anyone time on the ledger.
This ledger is secured by a network of processors, aka ‘miners’, who handle anonymized transactions in return for a small fee. They do so against pre-agreed consensus mechanisms such as ‘proof-of-stake’ or ‘proof-of-work’. All transactions are immutable.
Smart contracts can be grouped into stateless or registered decentralised autonomous organisations
We moving from Bitcoin early adopters; libertarian, academic to
Commercial BaaS
And open standards
Needs re different
Just looking at blockchain +
5 tech with most opportunity for blockchain, might be more
IoT
3D + VR same thing
A number of corporate venturing
Cisco here is this building want 20% of startups target
20% of Barclays last batch were blockchain
Expect to see more thatTaking VERY simple use cases. We had one
We know of at least 200 Ethereum based POCs.
We estimate 1/3 of are beyond POC and at MVP (minimum viable product), with varying levels of customer traction with modest professional funding.
software or communications including mining companies, wallet, most infrastructure
finance and insurance is more the payment processors, exchanges and trading
The areas getting the most level of funding and progress, beyond Capital Markets, seem to be around provenance / chain of custody, governance (corporate, public and NGO), Health, Energy, Insurance and IoT.
We know of at least 200 Ethereum based POCs.
We estimate 1/3 of are beyond POC and at MVP
The areas getting the most level of funding and progress, beyond Capital Markets, seem to be around provenance / chain of custody, governance (corporate, public and NGO), Health, Energy, Insurance and IoT.
UK is home for blockchain fintech – Brexit
When asked 28% said without HQ
Statelessness or nascent
But 4.7% Switzerland & Singapore