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FinTech Belgium Summit 2018 - Keyrock - Kevin de Patoul


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FinTech Belgium Summit 2018 - Keyrock - Kevin de Patou

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FinTech Belgium Summit 2018 - Keyrock - Kevin de Patoul

  1. 1. The Crypto Market: Beyond The Hype
  2. 2. Agenda 1. A year in crypto land 2. The crypto market as a market 3. Let’s get the crystal ball
  3. 3. 1. A year in crypto land
  4. 4. We have heard a bit (a lot) of everything in the last 12 months Nov. 2017 Oct. 2018
  5. 5. Catastrophe... ● USD 554 bn drop ● 75% decline since peak mid- January 18 ● -10.7% monthly decline over the 10 months period Perspective... ● USD 193 bn increase ● 1 135% growth since start of January 17 ● +12.8% monthly growth over the 22 months period Could the numbers be telling another story? Total Cryptocurrency market capitalization Source:
  6. 6. Are new crypto currencies still being created? A market gaining in maturity ● Less projects, higher quality ● Investors are growing up ● Professional investors are the new targets ● ICOs done in private sales Source: Bloomberg
  7. 7. What can this teach us? “Blockchain technology is the first sector where money flooded the market before any product was available. Nowadays, dreamers, engineers and innovators are starting to catch up with investors !”
  8. 8. 2. The crypto market as a market
  9. 9. How do you define a good market? An efficient market provides all buyers and sellers the ability to easily transact when they wish to do so, without impacting the price of the asset for the market as a whole. An efficient market is a liquid market.
  10. 10. Liquidity in cryptos is not what it seems at first
  11. 11. 3. Let’s get the crystal ball
  12. 12. Main trends on the crypto market (1/3) Institutional players are showing a growing interest for the market
  13. 13. We see a growing link between crypto companies and traditional banking, helped by the development of stable coins Main trends on the crypto market (2/3)
  14. 14. Main trends on the crypto market (3/3) We are slowly but surely gaining clarity on regulatory frameworks USA The US have been very vocal on ICOs, mainly through the SEC and the CFTC. Its main stance is to determine whether ICOs fit in the securities’ law, through the Howey test Canada Canada has been very progressive on the ICO topic, working hand in hand with projects such as Impak Finance to develop fully regulated coin offerings Europe France, Malta, Gibraltar and Switzerland and quite clearly taking the lead in defining frameworks to issue and trade with cryptocurrencies - EU recommendations issued China Once the biggest crypto market, China took a big conservative turn, banning ICOs all together – Market believe this is a temporary move to regain control
  15. 15. Conclusions The growth of the crypto market may frighten some established players but even they accept the potential of its technology The market has ups and downs - and big ones - but this is not a fad. This is a new asset class that will revolutionize the way we transfer value. Not a single doubt about it.