2. All rights reserved - Marcus Erken, Sunfish Partners, 2017
The beginning
2
Source: The Economist, 2015
3. All rights reserved - Marcus Erken, Sunfish Partners, 2017
Nice to meet you
3
Sunfish Partners supports and
invests in early-stage startups in
the “world of data” (machine
learning, blockchain, IoT)
4. All rights reserved - Marcus Erken, Sunfish Partners, 2017
Disclaimer
4
This presentation is not intended as
investment, tax or legal advice and only
contains my personal opinions.
Cryptocurrencies and ICOs are risky. Never
invest more than you can afford to lose.
Always seek professional advice before
making any investment.
5. All rights reserved - Marcus Erken, Sunfish Partners, 2017
In-person exchanges are easy
5
Source: Coindesk, 2014
6. All rights reserved - Marcus Erken, Sunfish Partners, 2017
Digital exchanges are tricky
6
Source: Coindesk, 2014
7. All rights reserved - Marcus Erken, Sunfish Partners, 2017
That’s why we need a trusted party with a ledger
7
Source: Coindesk, 2014
8. All rights reserved - Marcus Erken, Sunfish Partners, 2017
Why not give this ledger to everybody?
8
Source: Coindesk, 2014
9. All rights reserved - Marcus Erken, Sunfish Partners, 2017
The big two and why they matter so much
9
Source: Gatecoin, 2017
10. All rights reserved - Marcus Erken, Sunfish Partners, 2017
What are smart contracts?
10
Source: Blockgeeks
11. All rights reserved - Marcus Erken, Sunfish Partners, 2017
The benefits of blockchains (I/II)
11
Source: Deloitte
1. Trustless exchange
Two parties are able to make an exchange without the oversight or intermediation of a third
party, strongly reducing or even eliminating counterparty risk.
2. Empowered users
Users are in control of all their information and transactions.
3. High quality data
Blockchain data is complete, consistent, timely, accurate, and widely available.
4. Durability, reliability, and longevity
Due to the decentralized networks, blockchain does not have a central point of failure and is
better able to withstand malicious attacks.
5. Process integrity
Users can trust that transactions will be executed exactly as the protocol commands removing
the need for a trusted third party.
12. All rights reserved - Marcus Erken, Sunfish Partners, 2017
The benefits of blockchains (II/II)
12
6. Transparency and immutability
Changes to public blockchains are publicly viewable by all parties creating transparency, and
all transactions are immutable, meaning they cannot be altered or deleted.
7. Ecosystem simplification
With all transactions being added to a single public ledger, it reduces the clutter and
complications of multiple ledgers.
8. Faster transactions
Interbank transactions can potentially take days for clearing and final settlement, especially
outside of working hours. Blockchain transactions can reduce transaction times to minutes and
are processed 24/7.
9. Lower transaction costs
By eliminating third party intermediaries and overhead costs for exchanging assets,
blockchains have the potential to greatly reduce transaction fees.
Source: Deloitte
13. All rights reserved - Marcus Erken, Sunfish Partners, 2017
Blockchains can transform many industries - Examples
13
Source: SapHanaTutorial
14. All rights reserved - Marcus Erken, Sunfish Partners, 2017
Many startups have emerged already and more are coming
14
Source: CBInsights, 2017
15. All rights reserved - Marcus Erken, Sunfish Partners, 2017
What’s an ICO?
15
Source: Chipin, 2017
16. All rights reserved - Marcus Erken, Sunfish Partners, 2017
The biggest ICOs in 2017
16
Source: Crunchbase, 2017
17. All rights reserved - Marcus Erken, Sunfish Partners, 2017
Are ICOs an alternative to venture capital?
17
Source: CBInsights, 2017
18. All rights reserved - Marcus Erken, Sunfish Partners, 2017
How to buy & trade cryptocurrencies? Examples
18
Kraken
Bitcoin.de
Coinbase
Anycoin Direct
For fiat
Bittrex
Poloniex
Liqui
For crypto
19. All rights reserved - Marcus Erken, Sunfish Partners, 2017
How to store cryptocurrencies?
19
Exchange wallets
Software wallets
Mobile wallets
Hardware wallets
Paper wallets
low
.
.
.
security
.
.
.
high
20. All rights reserved - Marcus Erken, Sunfish Partners, 2017
Use hardware or paper wallets
20
Source: Ledger Nano S – Ledger Wallet, 2017
21. All rights reserved - Marcus Erken, Sunfish Partners, 2017
Security round 1: What‘s the difference?
21
WHUrocks
.,v2.mZrEtYtAAxe?A;#@Zzh?ZrYk
22. All rights reserved - Marcus Erken, Sunfish Partners, 2017
Security round 2: What‘s the difference?
22
.,v2.mZrEtYtAAxe?A;#@Zzh?ZrYk
.,v2.mZrEtYtAAxe?A;#@Zzh?ZrYk
23. All rights reserved - Marcus Erken, Sunfish Partners, 2017
Use random, complex passwords and never use them twice
23
Source: Passwordsgenerator
24. All rights reserved - Marcus Erken, Sunfish Partners, 2017
Set up two-factor authentication
24
Source: Android Guys, 2017
25. All rights reserved - Marcus Erken, Sunfish Partners, 2017
There is no customer support hotline in cryptoland
25
Source: Slack Screenshot, 2017
26. All rights reserved - Marcus Erken, Sunfish Partners, 2017
Most days in cryptoland, it’s either all red…
26
Source: Coinmarketcap, 2017-09-15
27. All rights reserved - Marcus Erken, Sunfish Partners, 2017
… or all green It’s a highly correlated asset class
27
Source: Coinmarketcap, 2017-09-16
28. All rights reserved - Marcus Erken, Sunfish Partners, 2017
On volatility – What a difference a day makes
28
Source: Coinmarketcap, 2017
29. All rights reserved - Marcus Erken, Sunfish Partners, 2017
The jury is still out on regulation (I/IV)
29
Source: SEC, 2017
30. All rights reserved - Marcus Erken, Sunfish Partners, 2017
The jury is still out on regulation (II/IV)
30
Source: TechCrunch, 2017
31. All rights reserved - Marcus Erken, Sunfish Partners, 2017
The jury is still out on regulation (III/IV)
31
Source: Coindesk, 2017
32. All rights reserved - Marcus Erken, Sunfish Partners, 2017
The jury is still out on regulation (IV/IV)
32
Source: Bitcoin.com, 2017
33. All rights reserved - Marcus Erken, Sunfish Partners, 2017
It’s a polarizing topic
33
Source: CNBC, 2017
34. All rights reserved - Marcus Erken, Sunfish Partners, 2017
#wtf
34
Source: Bitcoin.com, 2017
35. All rights reserved - Marcus Erken, Sunfish Partners, 2017
Understand people’s incentives & think for yourself
35
Source: Trustnodes, 2017
36. All rights reserved - Marcus Erken, Sunfish Partners, 2017
Market caps – cryptocurrencies
36
Source: Coinmarketcap, 2017-09-26
37. All rights reserved - Marcus Erken, Sunfish Partners, 2017
Market caps - stocks
37
Source: Statista, 2017
38. All rights reserved - Marcus Erken, Sunfish Partners, 2017
How much innovation will come out of the crypto universe?
38
5.5x
1,100+
cryptocurrencies
39. All rights reserved - Marcus Erken, Sunfish Partners, 2017
The best is yet to come
39
Source: Materna, 2017