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Introduction to Blockchain, Crypto and Public Relations

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Bringing credibility to a manipulated market - Blockchain.

A story of scammers, innovators, FOMO and disruptive technologies

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Introduction to Blockchain, Crypto and Public Relations

  1. 1. BRINGING CREDIBILITY TO A MANIPULATED MARKET - BLOCKCHAIN LARS VOEDISCH, PRECIOUS COMMUNICATIONS, SINGAPORE © PRecious Communications 1
  2. 2. A STORY OF SCAMMERS, INNOVATORS, FOMO AND DISRUPTIVE TECHNOLOGIES 2
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  5. 5. INNOVATION AND HYPE THE WORLD WIDE WEB & CLOUD TECHNOLOGY • 1963: DARPA tasks MIT for a computer project (beginning of cloud technology) • 1966: The ARPANET Project (beginning of the internet) • 1993: introduction of the World Wide Web • 99 : Ter oi ed loud o puti g • 2001: Dot.com bubble bursts • 2002: Amazon Web Services provided users access to storage and computation solutions • 2004: Web 2.0 • 2007/08: the mobile revolution kickstarts 5
  6. 6. BLOCKCHAIN TECHNOLOGY – A PARADIGM SHIFT "The practical consequence for the first time, a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer. The consequences of this breakthrough are hard to overstate.” - Marc Andreessen 6
  7. 7. • The blockchain is the underlying technology of Bitcoin. It is the biggest innovation in computer science over the past couple of years • It is a distributed database where trust & security is established through mass collaboration and clever coding • Decentralized ledger – execution and safekeeping of smart contracts • It does not allow for any copying or alternating of the ledger • Although originally devised for Bitcoin, there are many potential uses outside of the crypto-sphere 7 BITCOIN AND BLOCKCHAIN
  8. 8. BLOCKCHAIN – A BRIEF OVERVIEW 8
  9. 9. BLOCKCHAIN FUN FACTS • Blo k hai s reported pote tial for redu i g bank infrastructure costs is 30% • Reported potential annual savings for banks utilizing blockchain technology is $$8-12 billion • Projected worth of the entire market until 2024 is $20 billion • Top ICO s i (Business Insider, Singapore) • Hdac ($ 258 million) • Filecoin ($257 million) • Tezos ($232 million) 9
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  11. 11. 11 • Blockchain is a DLT – Decentralized Ledgers Technology • It is safe and transparent, even when sharing data with a large group of people • It gives the consumers (and companies) the possibility to track the origin of a particular item – accountabilityIt will be used to audit the asset ownership and monitoring of each transaction - transparency • It greatly simplifies the transaction process UNDERSTANDING BLOCKCHAIN - BENIFITS
  12. 12. CRYPOTCURRENCIES 12
  13. 13. • The most famous is Bitcoin, which is based on the blockchain technology • Founder = Satoshi Nakamoto (myth) • In 2010, a developer used 10,000 Bitcoins to buy 2 pizzas Value in Dec 2017: $179,000,000 • However, there are 1592 different Coins / Tokens and counting • More tha illio allets worldwide 13
  14. 14. BUT BITCOIN REMAINS KING 14 Market Share:
  15. 15. JARGON ALERT 16
  16. 16. ICO • Initial coin offering or initial currency offering (ICO): type of crowdfunding where a quantity of cryptocurrency is sold to investors as "toke s . • Tokens can be exchanged for legal tender or other cryptocurrencies. • ICOs are often prone to scams and securities law violations. 17
  17. 17. ICO • These tokens are promoted as future functional units of currency if or when the ICO's funding goal is met. • ICOs provide a means by which startups avoid costs of regulatory compliance and intermediaries, such as venture capitalists, bank and stock exchanges, while increasing risk for investors. • ICOs may fall outside existing regulations depending on the nature of the project, or are banned altogether in some jurisdictions, such as China and South Korea. 18
  18. 18. TOP 10 ICOS OF 2017 • Hdac ($DAC) – 258 m USD • Filecoin ($FIL) – 257 m USD • Tezos ($XTZ) – 232 m USD • Sirin Labs ($SRN) – 157.7 m USD • Bancor ($BNT) – 152 m USD • PolkaDot ($DOT) – 142.4 m USD • Liquid ($QASH) – 105 m USD • Status ($SNT) – 100 m USD • Comsa ($CMS) – 95.3 m USD • PressOne ($966) – 82 m USD 19
  19. 19. MINING • Mining is a record-keeping service done through the use of computer processing power. • Miners keep the blockchain consistent, complete, and unalterable by repeatedly grouping newly broadcast transactions into a block, which is then broadcast to the network and verified by recipient nodes 20
  20. 20. BOUNTIES • Bounties is akin to a barter trade of sorts. Many start-ups usually incorporate a bounty program as part of their ICO campaign. During the bounty program, the ICOs provide compensation for a number of tasks spread across marketing, bug reporting or even improving aspects of the cryptocurrency framework. • The reward is usually in the form of cryptocurrency tokens or fiat currency. 21
  21. 21. AIRDROPS • Airdrops can be defined as the process whereby a cryptocurrency enterprise distributes cryptocurrency tokens to the wallets of some users free of charge. • Airdrops are usually carried out by blockchain-based startups to bootstrap their cryptocurrency projects. Also, established blockchain-based enterprises like cryptocurrency exchange platforms and wallet services can also carry out airdrops as well. 22
  22. 22. HODL • The very first time the term HODL appeared on the Bitcoin talk forum was in 2013 and came from a member named GameKyuubi u der the thread I AM HODLING . • From the look of the post, he was drunk and wanted to convey the fact that he was holding his BTC despite the serious fall that had just happened. • Since then, this misspelled term became very popular in the Bitcoin and cryptocurrency world. Whenever a person says in a conversation that he/she is hodling or suggests to hodl, it means that they believe their coin will be profitable one day, if not today. 23
  23. 23. THE PUMP AND DUMP • The pump and dump, an age-old scheme to quickly raise the value of a worthless asset and then selling it to reap the profits from the price increase. • The price of the worthless asset is increasing rapidly due to the well-planned pump. Once investors get word about the worthless asset and see its price rising rapidly, more investors start to buy up shares of the stock. 24
  24. 24. WHITE PAPERS • An informational document, issued by the company • They are sales and marketing documents • Promote the companies product, service, technology • Issued prior to investment rounds (for crypto before the ICO rounds) • Highlights what problem the product solves and why investors should invest in the company/product 25
  25. 25. ETHEREUM • Co-created by Vitalik Buterin • Alter ati e proto ol to Bit oi • Simpler script to develop applications • Consent based decision making • Utility token Ether 26
  26. 26. ANY DOWNSIDE? 27
  27. 27. ANY CONS TO GOING CRYPTO? • High Volatility • Loss of ones wallet = Loss of money • No legal backing + no central bank endorsement • No public acceptance as a payment method • Scaling (i.e. think about Ethereum, whose network is overworked) • Vice activities 28
  28. 28. THE WOLF OF WALLSTREET - CRYPTOSTYLE • 5 types of participants in crypto: i. Gamblers ii. Traders iii.Investors iv.Users v. Crooks 29 • 6 types of participants in blockchain: i. Anarchists ii. Dreamers iii.Scammers iv.Inventors v. Developers vi.Show offs
  29. 29. SUMMARY: BLOCKCHAIN, CRYPTO, BITCOIN • Innovative technology • Greater transparency • Enhanced security • Improved traceability • Increased efficiency and speed • No Mass Market (yet) • Not regulated • Fast moving • Still at a very early stage of development • Scams & Manipulations omnipresent 30
  30. 30. BUILDING TRUST, EDUCATING THE MARKET • Filter the ones that are clearly a scam from the ones that are not • Do t fo us o Blo k hai ! Fo us o hat problem you are solving with technology (try not using the words blockchain & cryptocurrency) • Community-engagement • Reliability and Credibility building is key • Endorsements from others • Look beyond the hype (think eCommerce, Mobile Apps, Cloud etc) 31
  31. 31. ACCEPT PAYMENT IN CRYPTO? 32
  32. 32. PRECIOUS CASE STUDIES 33
  33. 33. ELECTRIFY: ENERGY ON THE BLOCKCHAIN ELECTRIFY.SG is Si gapore s first arketpla e for retail ele tri ity. Pre ious was tasked to announce the closing of the seed round and the upcoming ICO. Campaign Objectives • To drive thought leadership and increase valuation • To strengthen brand awareness • Support for their ICO in Q1 2018 Strategy • To arrange meet-ups/chat sessions between media and ELECTRIFY.SG • To lead education in the energy space • To share industry insights with media and build ELECTRIFY.SG s redi ility and reputation 34
  34. 34. Results • ICO Volume: $30 million • Widespread interest and coverage in tier 1 media including BBC, CNBC, Channel NewsAsia, Inc. Asean, Nikkei, The Business Times and Reuters 35
  35. 35. QUESTIONS? 36
  36. 36. Thank you! 37

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