Presentation on American and Chinese trends in financial technology at the Silicon Valley Innovation and Entrepreneurship Forum in late 2015.
By: Sean Walsh, @SeanWalshBTC
Bitcoin & Blockchain Overview - What You Need To Know - Sean WalshSean Walsh
Here is an overview presentation given by Sean Walsh of Redwood City Ventures to Silicon Valley Insight in November 2015. Several hundred Chinese technologists, entrepreneurs, and investors were in attendance...
Banks and Regulators in Fintech: results of 2016 and trends for 2017Vladislav Solodkiy
Life.SREDA VC is a venture capital firm that invests in blockchain and fintech startups. It has offices in Moscow, Singapore, and London. The document provides details on Life.SREDA's investments, research focus, and accelerator programs. It also discusses trends in banks increasingly partnering with and investing in fintech startups to access new technologies, ideas, expertise, and customers. Some banks are launching venture arms, accelerators, and making direct investments in fintech companies. The future of banking will involve closer collaboration between traditional banks and fintech partners.
The document is a manifesto for "The Bubble Generation" which argues that blockchain/crypto entrepreneurs are the new "rock stars" building a new economy. It claims the previous generation failed and that regulations need to adapt to the new decentralized economy, which will create jobs and benefits despite critics calling it a bubble. It invites supporters and opponents to dialogue to move the industry from the "gray zone" to being openly understood and accepted.
1. Fintech has transformed from a hypothetical sector to an actual one in 2015, with many unicorns and startups emerging. However, M&A is proving to be a more common exit strategy than IPO.
2. Asia is becoming a major player in fintech, driven by large populations, underdeveloped banking, and supportive government policies in countries like China, India, and Singapore. Mobile point-of-sale acquiring is booming in Asia.
3. Other trends in 2015 included the success of Stripe and other online payment acquirers, the growth of crowdfunding and crowdinvesting, potential applications of blockchain technology beyond bitcoin, and continued growth of online lending platforms.
The document provides an overview of the blockchain and ICO industries. It notes that while blockchain has significant potential, the industry remains underfinanced compared to fintech. ICOs have emerged as a new tool to address funding challenges, surpassing VC funding for blockchain companies in 2017. ICOs allow startups to raise millions quickly through crowdfunding models. However, the market is still developing and many low quality projects exist. Overall the document analyzes trends in blockchain investments and the growth of ICOs as a new funding mechanism.
SFACFE - FinTech Fraud Summit 2017 - "FinTech Overview and Emerging Trends"Timothy Li
Our CEO, Timothy Li presented at the SFACFE, San Francisco Association of Certified Fraud Examiner's inaugural FinTech Fraud Summit 2017 hosted by Ernst and Young in San Francisco on March 17th, 2017.
Tim covered board fraud and risk management related topics and gave an overview of the FinTech emerging trends to a crowd of over 100 participants.
Investing in fintech: Trends in financial technology for investors and entrep...OurCrowd
Join Zack Miller, Head of the Investor Community at OurCrowd, and Mick Weinstein, VP of Marketing at BIllGuard for an in depth discussion of the recent trends and opportunities in the dynamic financial technology industry. Zack and Mick have both helped build some of the top companies in the space including Seeking Alpha, Covestor, OurCrowd, BillGuard, Lending Club, SigFig and more.
Join us to learn about:
How top investors and entrepreneurs think about the entire fintech ecosystem, from online asset management, to financial content, to consumer finance apps, and crowdfunding.
Which business models are taking hold and their future prospects.
The challenges and opportunities for investing and building a valuable company in the financial space.
Money of the Future. Top fin-tech trendsMaria Bichl
The document summarizes major financial innovations in 2013 and trends for 2014. It predicts that investments in online financial startups will remain very popular for the next 3 years. It also notes that tablet-based financial services will see strong growth as post-PC devices dominate the market in 2015. Crowdfunding is evolving towards crowdinvesting and seeking opportunities outside the US. Bitcoin was a hot topic in 2013 but its future is uncertain due to volatility. PayPal remains the leader in e-wallets but similar services may succeed in other countries. Mobile-first banks are fostering new generations of financial service users.
Bitcoin & Blockchain Overview - What You Need To Know - Sean WalshSean Walsh
Here is an overview presentation given by Sean Walsh of Redwood City Ventures to Silicon Valley Insight in November 2015. Several hundred Chinese technologists, entrepreneurs, and investors were in attendance...
Banks and Regulators in Fintech: results of 2016 and trends for 2017Vladislav Solodkiy
Life.SREDA VC is a venture capital firm that invests in blockchain and fintech startups. It has offices in Moscow, Singapore, and London. The document provides details on Life.SREDA's investments, research focus, and accelerator programs. It also discusses trends in banks increasingly partnering with and investing in fintech startups to access new technologies, ideas, expertise, and customers. Some banks are launching venture arms, accelerators, and making direct investments in fintech companies. The future of banking will involve closer collaboration between traditional banks and fintech partners.
The document is a manifesto for "The Bubble Generation" which argues that blockchain/crypto entrepreneurs are the new "rock stars" building a new economy. It claims the previous generation failed and that regulations need to adapt to the new decentralized economy, which will create jobs and benefits despite critics calling it a bubble. It invites supporters and opponents to dialogue to move the industry from the "gray zone" to being openly understood and accepted.
1. Fintech has transformed from a hypothetical sector to an actual one in 2015, with many unicorns and startups emerging. However, M&A is proving to be a more common exit strategy than IPO.
2. Asia is becoming a major player in fintech, driven by large populations, underdeveloped banking, and supportive government policies in countries like China, India, and Singapore. Mobile point-of-sale acquiring is booming in Asia.
3. Other trends in 2015 included the success of Stripe and other online payment acquirers, the growth of crowdfunding and crowdinvesting, potential applications of blockchain technology beyond bitcoin, and continued growth of online lending platforms.
The document provides an overview of the blockchain and ICO industries. It notes that while blockchain has significant potential, the industry remains underfinanced compared to fintech. ICOs have emerged as a new tool to address funding challenges, surpassing VC funding for blockchain companies in 2017. ICOs allow startups to raise millions quickly through crowdfunding models. However, the market is still developing and many low quality projects exist. Overall the document analyzes trends in blockchain investments and the growth of ICOs as a new funding mechanism.
SFACFE - FinTech Fraud Summit 2017 - "FinTech Overview and Emerging Trends"Timothy Li
Our CEO, Timothy Li presented at the SFACFE, San Francisco Association of Certified Fraud Examiner's inaugural FinTech Fraud Summit 2017 hosted by Ernst and Young in San Francisco on March 17th, 2017.
Tim covered board fraud and risk management related topics and gave an overview of the FinTech emerging trends to a crowd of over 100 participants.
Investing in fintech: Trends in financial technology for investors and entrep...OurCrowd
Join Zack Miller, Head of the Investor Community at OurCrowd, and Mick Weinstein, VP of Marketing at BIllGuard for an in depth discussion of the recent trends and opportunities in the dynamic financial technology industry. Zack and Mick have both helped build some of the top companies in the space including Seeking Alpha, Covestor, OurCrowd, BillGuard, Lending Club, SigFig and more.
Join us to learn about:
How top investors and entrepreneurs think about the entire fintech ecosystem, from online asset management, to financial content, to consumer finance apps, and crowdfunding.
Which business models are taking hold and their future prospects.
The challenges and opportunities for investing and building a valuable company in the financial space.
Money of the Future. Top fin-tech trendsMaria Bichl
The document summarizes major financial innovations in 2013 and trends for 2014. It predicts that investments in online financial startups will remain very popular for the next 3 years. It also notes that tablet-based financial services will see strong growth as post-PC devices dominate the market in 2015. Crowdfunding is evolving towards crowdinvesting and seeking opportunities outside the US. Bitcoin was a hot topic in 2013 but its future is uncertain due to volatility. PayPal remains the leader in e-wallets but similar services may succeed in other countries. Mobile-first banks are fostering new generations of financial service users.
Fintech, Insurtech and Blockchain results of 2016 and trends for 2017Vladislav Solodkiy
Life.SREDA VC is a venture capital firm that invests in fintech and blockchain startups. It has offices in Moscow, Singapore, and London, and has made 13 investments in Europe, the US, UK, Germany, and CIS since 2012. Life.SREDA also conducts fintech research and publishes an annual report on the state of the fintech industry called "Money of the Future". The summary highlights Life.SREDA's locations, investments, and research activities.
Best fintech and other inspiration events from Life.SREDA VC '4Q2014Vladislav Solodkiy
This document provides information on various technology and finance conferences happening between September and November 2014. It lists the name, location, dates and short description of events like Finovate Fall in New York, WIRED by Design in California, FinDEVr and TedGlobal in San Francisco, Innovation by Design in New York, WIRED and TechCrunch Disrupt EU in London, Web Summit in Dublin, and Money2020 in Las Vegas. Many of the events will have speakers from major tech companies and focus on topics like financial technology, design, and innovations shaping the future.
State of the blockchain markets, july 2016Chris Skinner
The document provides an overview of blockchain applications and investment trends from July 2016. It finds that the number of blockchain companies founded has grown significantly since 2010, with over 150 founded in 2016. Investment rounds and total funding have also increased substantially year-over-year. The report analyzes funding by stage and sector, noting the majority of funding goes to financial services and technology enabler companies. It also lists some of the most active investors and largest deals.
The UK fintech market is investing billions in startups to develop new payment technologies. These technologies optimize payment processes, enable easy online payments while avoiding bank charges, and use customer data to personalize banking services and ads. Popular UK fintech companies include Trustly, Transferwise, and GoCardless, which offer cross-border payments, international money transfers, and direct debit collection respectively. Big data is also playing a key role, with fintech firms using it for fraud detection, enhancing customer experience, risk management, and investment decisions. However, challenges remain around integrating legacy systems, developing analytics skills, and transforming data into useful insights.
Summary based on Deloitte's CEE Fintech Report 2016
Source: https://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/central-europe/ce-fintech-in-cee-region-2016.pdf
Cfa cryptoasset guide to bitcoin blockchain crypto for investment professionalRein Mahatma
This document provides an overview of cryptocurrencies and blockchain for investment professionals. It begins with an explanation of how Bitcoin works at a technical level as a distributed ledger that allows for peer-to-peer value transfer without an intermediary. The document then discusses how Bitcoin transactions are validated through a competitive process where miners bundle transactions into blocks and are rewarded with new bitcoins upon solving a mathematical puzzle. Finally, it outlines how understanding this technical foundation can help investors evaluate the opportunities and risks of cryptocurrencies.
The document discusses the rise of financial technology (fintech) companies and trends in Asia. It provides an overview of what fintech is, categories of fintech, and global industry trends such as increasing investments, mergers and acquisitions, and initial public offerings. It then discusses factors driving growth of fintech in Asia, including high mobile phone and internet penetration, large unbanked and underserved populations, fragmented markets, and government support. Specific Asian opportunities and Marvelstone's plans to launch a fintech platform called FundEast focusing on Asian markets are also mentioned.
(Almost) everything you need to know to start in FintechSophie Guibaud
This workshop will provide readers with a global overview of the Fintech world, market dynamics and how London has managed to become a leading Fintech hub. They will learn about the various business models that fall under the Fintech umbrella (Payments, Money transfer, Crowdfunding, Lending, Data & Analytics) and also discuss new banking models that are trying to inspire and shape the bank of the future.
Summary of findings
2018 VC-backed fintech deals and funding set an annual record: In 2018, - VC-backed fintech companies raised $39.57B across 1,707 deals globally. Deals were up 15% year-over-year while funding surged 120% on the back of 52 mega-rounds ($100M+) worth $24.88B combined.
Fintech is happening on global scale with deals outside of core markets (US, UK, and China) accounting for 39% of deals: Fintech deal hubs are starting to emerge globally. The count of unique fintech startups raising funding topped an annual high of 1,463 companies, and the unique number of investors reached 2,745 boosted by an influx of corporate investors.
Early-stage deals, as a percentage, fell to a 5-year low as investors concentrated bets in perceived winners: Global seed and Series A fintech deals grew 5% on an annual basis in 2018, but fell as a percentage of total deals to 57%. US early-stage deals were flat YOY as investors concentrated their bets in established fintech unicorns.
There are 39 VC-backed fintech unicorns worth a combined $147.37B: Q4'18 saw five new unicorns births (Plaid, Brex, Monzo, DevotedHealth, and Toss) and two in the first month of Q1’19 (N26 and Confluent). The cohort’s total valuation in 2018 was boosted by a record year for megarounds to existing unicorns, including Gusto and Robinhood, among others.
We are pleased to share our thoughts for Fintech in 2018 trying to cover AI to Insurance to ICOs. We hope you find them useful and feel free to share you're thoughts with us as well.
Mercer Capital's Value Focus: FinTech Industry | First Half 2017Mercer Capital
Mercer Capital’s quarterly newsletter, FinTech Watch, provides an overview of the FinTech industry, including public market performance, valuation multiples for public FinTech companies, and articles of interest from around the web. This newsletter focuses on FinTech segments, including payment processors, technology, and solutions companies, examining general economic and industry trends as well as a summary of M&A and venture capital activity.
The document discusses blockchains and what they are good for. It describes blockchains as a new type of computer composed of nodes, which are physical computers joined together via a consensus mechanism. This blockchain computer has the special feature of provable trust guarantees, as the consensus mechanism ensures the code will continue to operate as designed. Blockchains allow for computers that can make commitments, such as guaranteeing a fixed bitcoin supply or ensuring a user's bitcoin cannot be double spent. Overall, the document presents blockchains as a new kind of decentralized virtual computer enabled by consensus across a network of nodes.
The document discusses the rise of fintech in Asia, particularly in lending and digital identity. It notes that Asia became the largest fintech market in the world in 2016, with lending being the most popular destination for investors. However, traditional credit scoring does not work well for many in Asia who are unbanked. New approaches using alternative data from smartphones and payments are being developed to enable scoring and lending to more people. Digital identity is also emerging as important beyond credit scoring, with some countries like China developing national social scoring systems. Blockchain may provide opportunities to give individuals more control over their digital identities and data.
The document discusses the rise of mobile technology and its impact on the financial sector. It notes that mobile traffic now exceeds internet traffic globally, with over 1 billion smartphone users worldwide. Many banks and financial services are moving to mobile-first models to engage customers. The trends of digital wallets, mobile payments, banking and personal finance apps are transforming how people manage their money. Russia is also experiencing rapid growth in mobile internet and adoption of smartphones, although regulatory barriers and financial literacy issues remain obstacles to further development of mobile financial services in the country.
A look inside the top 4 trends driving the FinTech industry today. How technology is impacting financial services and how they can benefit from advanced data analysis. Presented by Peter Huang, Director of Data at Beyondsoft.
1) Bitcoin's price increased 11% in Q2, with reduced volatility compared to previous quarters. VC investment in bitcoin companies dropped from Q1 but remained robust, while mainstream media coverage declined.
2) Competition is driving consolidation in the bitcoin exchange and mining sectors. Notable deals included CoinBR's acquisition and the BTCS/Spondoolies-Tech merger.
3) Ripple has secured partnerships with several major banks to test its blockchain technology for international payments.
201404 Retail-Banking-2020-Evolution-or-Revolution by PwCFrancisco Calzado
Powerful forces are reshaping the banking industry towards 2020. Global macro-trends like the rise of state-directed capitalism through increased regulation, rapid technological changes, shifting demographics, and changing social/customer expectations are creating challenges and opportunities for banks. Banks must develop a clear strategy to address priorities like enhancing their customer focus, optimizing distribution, simplifying operations, gaining an information advantage, enabling innovation, and proactively managing risks to succeed in the changing landscape.
- Bitcoin's price fluctuated in Q4 amid mixed news, ending the quarter down 18% for the year. Exchange trading volumes increased over 50% in 2014 and recently surpassed previous highs from late 2013.
- Venture capital investment in bitcoin startups exceeded $400 million for the year, surpassing early-stage internet investment in 1995. The number of countries receiving bitcoin VC investment grew from 8 to 18 in 2014.
- The number of altcoins grew to 590 by the end of 2014, though the growth rate slowed compared to previous quarters, with their combined market share remaining around 9% of bitcoin's market cap.
http://pwc.to/1fsT9Uu
Le Bitcoin est une monnaie numérique peer-to-peer qui connait un essor mondial. En 2013, le Bitcoin a obtenu 3,4 millions de mentions sur internet. Aux États-Unis, plusieurs petites et grandes entreprises du divertissement, des médias et des télécommunications ont entrepris des expériences avec cette nouvelle monnaie. PwC a donc mené une enquête auprès des consommateurs en ligne pour recueillir des informations sur la sensibilisation, les attitudes et les comportements liés au Bitcoin.
By examining digital currency, we aim to better understand
the impact it can have on the broader payments ecosystem.
While the concept of digital currency was introduced more
than a decade ago, recent developments have accelerated
its adoption, such as the emergence of fat-backed digital
currencies known as ‘stablecoins’; a growing community
of developers building applications on top of blockchain based networks; and rising interest among central banks to
introduce sovereign digital currencies.
Fintech, Insurtech and Blockchain results of 2016 and trends for 2017Vladislav Solodkiy
Life.SREDA VC is a venture capital firm that invests in fintech and blockchain startups. It has offices in Moscow, Singapore, and London, and has made 13 investments in Europe, the US, UK, Germany, and CIS since 2012. Life.SREDA also conducts fintech research and publishes an annual report on the state of the fintech industry called "Money of the Future". The summary highlights Life.SREDA's locations, investments, and research activities.
Best fintech and other inspiration events from Life.SREDA VC '4Q2014Vladislav Solodkiy
This document provides information on various technology and finance conferences happening between September and November 2014. It lists the name, location, dates and short description of events like Finovate Fall in New York, WIRED by Design in California, FinDEVr and TedGlobal in San Francisco, Innovation by Design in New York, WIRED and TechCrunch Disrupt EU in London, Web Summit in Dublin, and Money2020 in Las Vegas. Many of the events will have speakers from major tech companies and focus on topics like financial technology, design, and innovations shaping the future.
State of the blockchain markets, july 2016Chris Skinner
The document provides an overview of blockchain applications and investment trends from July 2016. It finds that the number of blockchain companies founded has grown significantly since 2010, with over 150 founded in 2016. Investment rounds and total funding have also increased substantially year-over-year. The report analyzes funding by stage and sector, noting the majority of funding goes to financial services and technology enabler companies. It also lists some of the most active investors and largest deals.
The UK fintech market is investing billions in startups to develop new payment technologies. These technologies optimize payment processes, enable easy online payments while avoiding bank charges, and use customer data to personalize banking services and ads. Popular UK fintech companies include Trustly, Transferwise, and GoCardless, which offer cross-border payments, international money transfers, and direct debit collection respectively. Big data is also playing a key role, with fintech firms using it for fraud detection, enhancing customer experience, risk management, and investment decisions. However, challenges remain around integrating legacy systems, developing analytics skills, and transforming data into useful insights.
Summary based on Deloitte's CEE Fintech Report 2016
Source: https://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/central-europe/ce-fintech-in-cee-region-2016.pdf
Cfa cryptoasset guide to bitcoin blockchain crypto for investment professionalRein Mahatma
This document provides an overview of cryptocurrencies and blockchain for investment professionals. It begins with an explanation of how Bitcoin works at a technical level as a distributed ledger that allows for peer-to-peer value transfer without an intermediary. The document then discusses how Bitcoin transactions are validated through a competitive process where miners bundle transactions into blocks and are rewarded with new bitcoins upon solving a mathematical puzzle. Finally, it outlines how understanding this technical foundation can help investors evaluate the opportunities and risks of cryptocurrencies.
The document discusses the rise of financial technology (fintech) companies and trends in Asia. It provides an overview of what fintech is, categories of fintech, and global industry trends such as increasing investments, mergers and acquisitions, and initial public offerings. It then discusses factors driving growth of fintech in Asia, including high mobile phone and internet penetration, large unbanked and underserved populations, fragmented markets, and government support. Specific Asian opportunities and Marvelstone's plans to launch a fintech platform called FundEast focusing on Asian markets are also mentioned.
(Almost) everything you need to know to start in FintechSophie Guibaud
This workshop will provide readers with a global overview of the Fintech world, market dynamics and how London has managed to become a leading Fintech hub. They will learn about the various business models that fall under the Fintech umbrella (Payments, Money transfer, Crowdfunding, Lending, Data & Analytics) and also discuss new banking models that are trying to inspire and shape the bank of the future.
Summary of findings
2018 VC-backed fintech deals and funding set an annual record: In 2018, - VC-backed fintech companies raised $39.57B across 1,707 deals globally. Deals were up 15% year-over-year while funding surged 120% on the back of 52 mega-rounds ($100M+) worth $24.88B combined.
Fintech is happening on global scale with deals outside of core markets (US, UK, and China) accounting for 39% of deals: Fintech deal hubs are starting to emerge globally. The count of unique fintech startups raising funding topped an annual high of 1,463 companies, and the unique number of investors reached 2,745 boosted by an influx of corporate investors.
Early-stage deals, as a percentage, fell to a 5-year low as investors concentrated bets in perceived winners: Global seed and Series A fintech deals grew 5% on an annual basis in 2018, but fell as a percentage of total deals to 57%. US early-stage deals were flat YOY as investors concentrated their bets in established fintech unicorns.
There are 39 VC-backed fintech unicorns worth a combined $147.37B: Q4'18 saw five new unicorns births (Plaid, Brex, Monzo, DevotedHealth, and Toss) and two in the first month of Q1’19 (N26 and Confluent). The cohort’s total valuation in 2018 was boosted by a record year for megarounds to existing unicorns, including Gusto and Robinhood, among others.
We are pleased to share our thoughts for Fintech in 2018 trying to cover AI to Insurance to ICOs. We hope you find them useful and feel free to share you're thoughts with us as well.
Mercer Capital's Value Focus: FinTech Industry | First Half 2017Mercer Capital
Mercer Capital’s quarterly newsletter, FinTech Watch, provides an overview of the FinTech industry, including public market performance, valuation multiples for public FinTech companies, and articles of interest from around the web. This newsletter focuses on FinTech segments, including payment processors, technology, and solutions companies, examining general economic and industry trends as well as a summary of M&A and venture capital activity.
The document discusses blockchains and what they are good for. It describes blockchains as a new type of computer composed of nodes, which are physical computers joined together via a consensus mechanism. This blockchain computer has the special feature of provable trust guarantees, as the consensus mechanism ensures the code will continue to operate as designed. Blockchains allow for computers that can make commitments, such as guaranteeing a fixed bitcoin supply or ensuring a user's bitcoin cannot be double spent. Overall, the document presents blockchains as a new kind of decentralized virtual computer enabled by consensus across a network of nodes.
The document discusses the rise of fintech in Asia, particularly in lending and digital identity. It notes that Asia became the largest fintech market in the world in 2016, with lending being the most popular destination for investors. However, traditional credit scoring does not work well for many in Asia who are unbanked. New approaches using alternative data from smartphones and payments are being developed to enable scoring and lending to more people. Digital identity is also emerging as important beyond credit scoring, with some countries like China developing national social scoring systems. Blockchain may provide opportunities to give individuals more control over their digital identities and data.
The document discusses the rise of mobile technology and its impact on the financial sector. It notes that mobile traffic now exceeds internet traffic globally, with over 1 billion smartphone users worldwide. Many banks and financial services are moving to mobile-first models to engage customers. The trends of digital wallets, mobile payments, banking and personal finance apps are transforming how people manage their money. Russia is also experiencing rapid growth in mobile internet and adoption of smartphones, although regulatory barriers and financial literacy issues remain obstacles to further development of mobile financial services in the country.
A look inside the top 4 trends driving the FinTech industry today. How technology is impacting financial services and how they can benefit from advanced data analysis. Presented by Peter Huang, Director of Data at Beyondsoft.
1) Bitcoin's price increased 11% in Q2, with reduced volatility compared to previous quarters. VC investment in bitcoin companies dropped from Q1 but remained robust, while mainstream media coverage declined.
2) Competition is driving consolidation in the bitcoin exchange and mining sectors. Notable deals included CoinBR's acquisition and the BTCS/Spondoolies-Tech merger.
3) Ripple has secured partnerships with several major banks to test its blockchain technology for international payments.
201404 Retail-Banking-2020-Evolution-or-Revolution by PwCFrancisco Calzado
Powerful forces are reshaping the banking industry towards 2020. Global macro-trends like the rise of state-directed capitalism through increased regulation, rapid technological changes, shifting demographics, and changing social/customer expectations are creating challenges and opportunities for banks. Banks must develop a clear strategy to address priorities like enhancing their customer focus, optimizing distribution, simplifying operations, gaining an information advantage, enabling innovation, and proactively managing risks to succeed in the changing landscape.
- Bitcoin's price fluctuated in Q4 amid mixed news, ending the quarter down 18% for the year. Exchange trading volumes increased over 50% in 2014 and recently surpassed previous highs from late 2013.
- Venture capital investment in bitcoin startups exceeded $400 million for the year, surpassing early-stage internet investment in 1995. The number of countries receiving bitcoin VC investment grew from 8 to 18 in 2014.
- The number of altcoins grew to 590 by the end of 2014, though the growth rate slowed compared to previous quarters, with their combined market share remaining around 9% of bitcoin's market cap.
http://pwc.to/1fsT9Uu
Le Bitcoin est une monnaie numérique peer-to-peer qui connait un essor mondial. En 2013, le Bitcoin a obtenu 3,4 millions de mentions sur internet. Aux États-Unis, plusieurs petites et grandes entreprises du divertissement, des médias et des télécommunications ont entrepris des expériences avec cette nouvelle monnaie. PwC a donc mené une enquête auprès des consommateurs en ligne pour recueillir des informations sur la sensibilisation, les attitudes et les comportements liés au Bitcoin.
By examining digital currency, we aim to better understand
the impact it can have on the broader payments ecosystem.
While the concept of digital currency was introduced more
than a decade ago, recent developments have accelerated
its adoption, such as the emergence of fat-backed digital
currencies known as ‘stablecoins’; a growing community
of developers building applications on top of blockchain based networks; and rising interest among central banks to
introduce sovereign digital currencies.
Conceptual Issues and Basic Method of BitCoin, Cryptography, Economics & The ...Chimezie Chuta
Chimezie Chuta is a leading figure in the African blockchain community, serving as an advisory board member at Kinesis Money and founding several blockchain organizations. He has authored books on blockchain and digital currencies and is a frequent speaker at conferences on these topics. Chuta also plays a key role in organizing major blockchain and cryptocurrency events in Nigeria and advising the government on blockchain innovation projects.
AI - FUTURE 2032 - You LOST Opportunity in BITCOIN? NOT AGAIN in AIwemakeimpression
This guide provides a structured approach to identifying and capitalizing on earning opportunities in AI startup company shares.
By following these steps and conducting thorough research, investors can make informed decisions and potentially benefit from the growth of the AI industry.
Big Traders Hates me for sharing this as a FREE OF COST..
GRAB IT BEFORE OPPORTUNITY VANISH...
This paper aims to provide a foundation for anyone looking to understand the potential of digital assets such as crypto currencies as a future asset class.
1) Cryptocurrencies like Bitcoin present a new, decentralized way of transferring money internationally without fees or oversight from governments or banks. This could help solve problems like poverty and unemployment by enabling new forms of lending and funding for entrepreneurs.
2) Bitcoins work using cryptography and a public ledger called the blockchain to allow secure digital payments directly between individuals without middlemen. This bypasses traditional barriers to accessing funds that often prevent ideas from being realized or help from reaching those in need.
3) Several organizations are exploring ways to use Bitcoin and other cryptocurrencies to help address social issues like funding relief efforts during the Ebola crisis more efficiently and enabling the homeless to more easily accept donations.
BITCOIN: WHY IT NOW BELONGS IN EVERY PORTFOLIOSteven Rhyner
{A technology|An innovation|A modern technology} is called "{disruptive|turbulent}" if it {creates|produces|develops} {a new|a brand-new} market that {first|very first|initial} {disturbs|disrupts|interrupts} {and then|and after that|then|and afterwards} displaces an earlier {technology|innovation|modern technology}. Bitcoin is {potentially|possibly} such {a technology|an innovation|a modern technology} {and|as well as|and also} {much more|a lot more|far more}.
The Coin Perspective can better comprehend the market cap potential of alternative coins according to The Coin Perspective. This is for you if you’ve ever wondered, “If coin X had the market cap of coin Y, what would it be worth?”
What is the next cryptocurrency to boom?
Calvaria (RIA) is a new cryptocurrency play that has the potential to soar in 2023. Reimagining Staking For Explosive Growth at Oryen Network. Exciting Meme Coin Project Pumping Since IEO: Tamadoge (TAMA). Metropoly – Crypto Presale with 5 Star Reviews and Expert Favorite.
What coin is most searched?
Global searches for bitcoin total more than 29 million each month. It has the highest market cap and is the most widely used coin.
A cryptocurrency is a type of digital currency that is created and controlled using sophisticated encryption methods, or cryptography. With the invention of Bitcoin in 2009, cryptocurrency made the transition from an intellectual concept to (virtual) reality.
While interest in Bitcoin grew over the years, it really came to the attention of investors and the media in April 2013, when it reached a record high of $266 per bitcoin after increasing by a factor of ten in just the previous two months.
At its height, Bitcoin’s market value exceeded $2 billion, but a 50% decline soon after triggered a heated discussion over the future of cryptocurrencies in general and Bitcoin in particular.
Will these alternative currencies eventually replace traditional ones and attain the same level of ubiquity as dollars and euros? Or are cryptocurrencies a short-lived trend that will soon fizzle out? Bitcoin contains the solution.
Future of Cryptocurrency
As institutional money joins the market, several economic analysts forecast a significant change in the crypto market. 3 There is also a chance that cryptocurrencies will be listed on the Nasdaq, which would lend blockchain and its potential applications as a substitute for traditional currencies even more credibility.
Some claim that a confirmed exchange traded fund is all that cryptocurrency needs (ETF). 5 There is little doubt that an ETF would make it simpler for people to invest in Bitcoin, but there still needs to be a demand for cryptocurrency investments, which may not be produced automatically by a fund.Future of Cryptocurrency
As institutional money joins the market, several economic analysts forecast a significant change in the crypto market. 3 There is also a chance that cryptocurrencies will be listed on the Nasdaq, which would lend blockchain and its potential applications as a substitute for traditional currencies even more credibility.
Some claim that a confirmed exchange traded fund is all that cryptocurrency needs (ETF). 5 There is little doubt that an ETF would make it simpler for people to invest in Bitcoin, but there still needs to be a demand for cryptocurrency investments, which may not be produced automatically by a fund.
Saske is a decentralised blockchain social connectivity platform designed to bring together the world at large on the most preeminent social communications networks while simultaneously tearing down the monolithic barriers still standing between the everyday person and the unprecedented benefits of cryptocurrencies.
Money for Nothing - Carolyn Wilkins, Bank of Canada, on CryptoAssetsWendell Wood Collins
This document summarizes a speech given by Carolyn Wilkins, Senior Deputy Governor of the Bank of Canada, about cryptocurrencies and central banks. Wilkins discusses three main questions for central banks: what is fundamentally new about cryptocurrencies, could private cryptocurrencies enable better monetary policy, and should central banks issue digital currencies of their own. While distributed ledger technology offers innovations, it does not eliminate the need for trust. Private cryptocurrencies also cannot replace central bank control of money supply or transmission of monetary policy. The Bank of Canada has been experimenting with distributed ledger technology through Project Jasper to understand its applications and limitations.
The future of cryptocurrency—some challenges
As we gaze into our crypto ball, let’s see what the future of cryptocurrency has in store for traders. With many experts estimating that the 2020 COVID-19 pandemic has hastened the decline of cash by almost five years, few are asking whether digital currencies will actually succeed (they have already). Instead, it’s a matter of when they’ll go mainstream. Nevertheless, there are some challenges ahead.
Perceptions
A significant generational divide exists when it comes to adoption rates of cryptocurrencies. Older generations are typically more sceptical of crypto’s long-term viability, expressing fears about volatile financial bubbles as well as uncertainty over how cryptocurrencies actually work.
The article discusses the growing pains facing bitcoin as it transitions from a novelty to a mainstream currency and payment system. While startups are forming around uses like brokerages and bitcoin storage, consumers remain unconvinced of using bitcoin to buy goods and services. Regulators are also proving challenging, imposing new rules around capital gains taxes and how banks can handle bitcoins. The future of bitcoin is uncertain, as it works to match the rhetoric around its potential with real-world adoption, but some see opportunities in uses like international payments and micropayments in emerging markets.
Should an investor look at the major cryptocurrencies going forward or pick one of the new kids on the block in search of greater profits? That brings to mind the risk of failed cryptocurrencies.
https://youtu.be/VZJofLC3nOs
After decades of struggling with high rates of inflation in.pdfabhitravel01
After decades of struggling with high rates of inflation, in 2001 the nation of El Salvador
abandoned the use of its local currency, the Salvadoran coln, and made the US dollar its official
legal tender. Twenty years later, El Salvador has announced that it will be adding a new currency
to be accepted as legal tender in the country: Bitcoin. Beginning September 7, 2021, residents will
be able to conduct their transactions in either US Dollars or Bitcoin. As part of the initiative to
encourage use of Bitcoin for transactions, President Nayib Bukele announced that everyone who
country would install 1500 Bitcoin ATMs throughout the country. This move by El Salvador has
also led other countries to consider adopting cryptocurrencies as legal tender as well. The recent
growth of digital currencies around the world has also caught the attention of central bankers in
large wealthy economies. Most recently, Chairman Jerome Powell announced that the US Federal
Reserve was exploring the possibility of creating its own digital currency. The move is aimed at
improving efficiency and security of payment systems, while maintaining the stability of the US
dollar. As such, rather than develop a cryptocurrency like Bitcoin or Dogecoin, whose value can be
quite volatile, the Federal Reserve is looking to create a digital coin that would be used alongside
paper currency. Proponents of the plan argue that this will reduce transactions costs, create more
market access for unbanked Americans, and allow the US Dollar to maintain its status as a
reserve currency. Those opposed to the plan (mostly banks) argue that it will allow depositers to
remove large sums of money quickly from banks in times of crisis and lead to virtual bank runs,
and deprive banks of customers, which could limit their ability to lend. Some lawmakers are also
concerned for the potential to make illicit transactions easier and increase crime. Discussion
Questions 1. What are the necessary conditions for something to be considered money? Does
Bitcoin satisfy these conditions? 2. What are the advantages and disadvantages of El Salvador
adopting Bitcoin as legal tender?alongside paper currency. Proponents of the plan argue that this
will reduce transactions costs, create more market access for unbanked Americans, and allow the
US Dollar to maintain its status as a reserve currency. Those opposed to the plan (mostly banks)
argue that it will allow depositers to remove large sums of money quickly from banks in times of
crisis and lead to virtual bank runs, and deprive banks of customers, which could limit their ability
to lend. Some lawmakers are also concerned for the potential to make illicit transactions easier
and increase crime. Discussion Questions 1. What are the necessary conditions for something to
be considered money? Does Bitcoin satisfy these conditions? 2. What are the advantages and
disadvantages of EI Salvador adopting Bitcoin as legal tender? 3. What share of Salvadorans
have access to.
This document discusses Bitcoin and its potential impact on banking and financial services. It begins by explaining what Bitcoin is - a digital currency and payment system based on blockchain technology. It then discusses why Bitcoin is interesting as it allows for decentralized transfer of value globally at low cost. The key actors in the Bitcoin system are miners, merchants, consumers and businesses. The document closes by discussing the regulatory landscape around Bitcoin and arguing that its underlying technology could provide efficiencies for financial services, while also noting risks around illicit use and consumer protection.
Financial institutions in the MENA region remain skeptical of bitcoin despite its growing adoption. Small groups and entrepreneurs are developing platforms to promote bitcoin as a means of addressing poor financial inclusion in the region. While low credit card usage and difficulty obtaining bank accounts drive potential bitcoin demand, cultural and technological challenges remain. Combined efforts between governments and businesses are needed to build trust and drive bitcoin growth, through education and outreach. However, bitcoin adoption in the MENA region currently remains low due to lack of incentives, innovation, and trust in the currency's security.
Bitcoins : all you need to know and get started with BitcoinSharjeel Khawaja
Bitcoin is a digital asset designed by its inventor, Satoshi Nakamoto, to work as a currency. It is commonly referred to with terms like digital currency, digital cash, virtual currency, electronic currency, or cryptocurrency.
Similar to Global Trends In FinTech, focus on US and China (20)
2020.01.16 Bitcoin Halving, Risks and Opportunities - Miami - Sean WalshSean Walsh
The document discusses the risks and opportunities surrounding Bitcoin's third halving event scheduled for May 2020. It provides details on halving mechanics, relevant economic principles, impacts on miners, and conclusions. The halving will reduce Bitcoin's annual supply expansion to under 2% for the first time. Models suggest the halving could drive the Bitcoin price upward long-term due to reduced supply. Most experts believe the halving effects cannot be fully priced in. The event may force less efficient miners to shut down operations.
2019.10.05 Bitcoin ROI Revealed - Frankfurt - Sean WalshSean Walsh
How to take advantage of the single biggest Bitcoin mining opportunity for the next 24-months. This opportunity will legitimize our industry, and guarantee our profitability, and allow us to take control of our own fate.
2018.09.23 - Crypto Mining ROI Revealed - Tbilisi - Sean WalshSean Walsh
Hyperblock CEO Sean Walsh argues that increasing Bitcoin adoption is the single best investment miners can make due to the following reasons:
1. Increased adoption would drive up the value of Bitcoin, making mining assets more valuable.
2. Investing in adoption delivers a 10x greater return on investment than investing in mining assets alone.
3. Techniques for achieving greater adoption are surprisingly low-cost and simple.
2018.05.17 - Fusion Foundation Keynote - New York - Sean WalshSean Walsh
The FUSION crypto network is the culmination of 12,000 of human experiments with the design of money. FUSION aims to facilitate such explosive growth in the Internet of Value as to transform society in profoundly exciting dimensions.
Breakout room breaking down bitcoin - sean walsh - toronto - 2018Sean Walsh
- Shells were used as currency for over 12,000 years, with use continuing today in some remote places.
- The document profiles Sean Walsh, a CEO and advisor in the blockchain/cryptocurrency space. It provides details on his background, companies, and notable projects.
- The presentation aims to cover key investment aspects of Bitcoin, including an analysis of what drives its value and evidence that its price may continue to appreciate. Factors discussed include network effects, customer base growth, and price elasticity of supply.
Breaking Down Bitcoin - Sean Walsh - Miami 2018Sean Walsh
The document discusses Bitcoin and its potential as either a bubble or the greatest invention since the internet. It begins by outlining the long history of shell money used as a form of currency for over 12,000 years. The remainder of the document consists of slides from a presentation given by Sean Walsh on Bitcoin. The presentation covers principles for analyzing Bitcoin as an investment, including what Bitcoin is, how it works, what drives its value, and evidence that its price may continue to grow. It analyzes Bitcoin according to characteristics of effective money and compares it to other currencies and assets.
Bitcoin's Killer App 2017 - Sean Walsh - World Blockchain Forum - LondonSean Walsh
1. Bitcoin holds the potential to become a truly mainstream investment and global technological phenomenon.
2. How can we accelerate this mainstream Bitcoin adoption?
3. Can one profit from this mainstream adoption?
4. What would the ROI profile look like?
IMPORTANT: Be sure to download the actual PowerPoint file, and look through our very detailed speaker notes for extensive commentary and reference citations.
Our perspective on the best way for Bitcoin to achieve mainstream adoption, fully updated for 2017.
We investigate the most beneficial attributes of Bitcoin and the Bitcoin ecosystem, and make a modest proposal for an easy way to bring Bitcoin firmly into mainstream use.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the what's app number of my personal pi vendor to trade with.
+12349014282
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the what'sapp contact of my personal vendor.
+12349014282
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Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the what'sapp number.
+12349014282
2. Our Objective
30 minutes to cover the most interesting trends in Internet Finance.
3 Stops for audience questions
3. Speaker Biographies
Chen Yu - President & Co-Founder of YeePay
Vitor Prado - CEO & Co-Founder of Prado Gittelson Group
Scott Robinson - Director & Founder of Plug and Play FinTech
Sean Walsh - Founder of Redwood City Ventures
4. Speaker Contact Information
Chen Yu,
Vitor Prado, vitor.prado@PradoGittelson.com
Scott Robinson, scott@PlugAndPlayTechCenter.com
Sean Walsh, sean@RedwoodCityVentures.com, WeChat - BigWaveW
5. What Is FinTech?
Consumers:
1. Online payment systems (ecommerce, peer-peer)
2. Virtual Currencies / Means of Exchange
3. P2P Loans
4. Investment (incl. Virtual Stores of Value)
Businesses:
1. Payment processing
2. Transaction settlement services
3. Investments (making + taking)
4. Crowdfunding
6.
7.
8. Why Is Finance Under Siege By The Internet?
1. Financial Intermediation is effectively a non-productive tax on the economy;
2. Less Spending on tax means more spending on productive enterprise;
3. Banking has grown more centralized over the past 50-years, and Financial
Services profits have grown commensurately;
4. To wit, that tax has reached 7.2% of US GDP, from 3% in 1950 (over $1.2
Trillion per year), and over ⅓ of US corporate profits;
5. Incentives have favored the banking status quo;
6. However, the WWW has granted much greater power to consumers;
7. Metcalf’s Law is relevant to, and beneficial for the lender/borrower network
through more desirable matches (think Craigslist and Newspapers);
9. Transaction Cost of Traditional Finance
One US example: Credit Card purchases…
1. Merchant pays 3% to accept credit card.
2. Merchant pays 100% of credit card chargebacks, which currently averages
2% of revenue.
3. Additional fraud expenses: card theft, identity theft, etc.
4. Annual US credit card purchases = over $1 Trillion
5. Total Cost of fraud to the system is almost 10%, per Lexis Nexis = over
$100 Billion/yr
Who ultimately pays this? Is there a more efficient way?
10. Over 1 Billion People - Internet but No Bank
1. Today there are 6 Billion Cellphones in use (5 Billion are prepaid).
2. 2.6 Billion smartphone subscriptions
3. About 3.3 Billion people use the Internet.
4. Mobile industry predicts over 6 Billion smartphones by 2020.
5. There are about 2.3 Billion people with bank accounts.
6. Bank accounts are not expected to grow as fast as Internet connectivity
and smartphone penetration.
CONCLUSION - Over 1 Billion people could become their own bank (via virtual
currencies like Bitcoin)
11.
12.
13.
14. Notable Moments in “Internet Finance”
1994 - HTTP status code “402 - payment required” is added to standard by W3C .
1999 - X.com becomes PayPal and abandons virtual currency aspirations .
2003 - Bernard Lietaer, chief architect of the Euro, proposes the virtual currency “Terra”.
2006 - Anshe Chung becomes first millionaire from virtual property on Second Life.
2009 - Mysterious figure “Satoshi Nakamoto” launches Bitcoin network, first transaction
to Hal Finney.
TTM - Wall Street embraces Bitcoin/Blockchain
15. Wall Street A-Team Embraces Bitcoin
Lawrence Summers - former US Secretary of the Treasury, Xapo Advisor, 21 Inc. board member
Blythe Masters - former Managing Director at JP Morgan, invented CDSs, ran $4B physical
commodity business, now CEO of Digital Asset Holdings
Dee Hock - founder of Visa, Xapo Advisor
John Reed - former Chairman of NYSE, former CEO of Citigroup, Xapo Advisor
Vikram Pandit - former CEO of Citigroup, investor in Coinbase
James Robinson III - former CEO of American Express, Chain.com Board Member
Duncan Niederauer - former CEO of NYSE, President of ICE, Tera Exchange Advisory Director
Jeffrey Sprecher - Founder, Chairman, and CEO of ICE, Chairman of NYSE, Coinbase.com investor
Tom Jessop - Managing Director at Goldman Sachs, Circle.com investor
Arthur Levitt - former Chairman of the SEC, Bitpay.com Advisor
Sheila Bair - former Chairwoman of the FDIC, itBit Board Member
Bill Bradley - former New Jersey Senator, itBit Board Member
Robert Herz - former Chairman of FASB, itBit Board Member
16. Use Cases, 1 of 7
Person-Person Transactions (1 foot, Same Country, International)
1. Projected from $15B in 2015 to $86B by 2018
2. Distance = 1 foot
a. Lots of mobile QR code scanning, NFC is lurking
b. Venmo
c. Google Wallet
d. Square Cash
e. Dwolla
f. BAT (for China)
g. Bitcoin Wallets
17.
18. Use Cases, 2 of 7
Person-Person Transactions, continued
3. Distance = same country
a. money sent to email addresses
b. money sent to Bitcoin wallet addresses (typically 33-34 characters)
c. all of the same services as 1-foot, plus PayPal and Facebook Messenger
4. Distance = international
a. Over $582 Billion sent in 2015.
b. Fees are down from 10% in 2010, but still average nearly 8% ($45B per
year)
c. This is considered by many to be the leading use case for Bitcoin which
costs 0%-3%, though regulatory obstacles remain.
d. Capital flight is an interesting consideration here.
19. Use Cases, 3 of 7
E-commerce - Product Purchases
1. Gift card exchanges
a. $124 Billion in cards sold in 2014 (US).
b. Up to 10% go unused.
c. Another 10% get sold into secondary market for 60% of face val.
d. Many of these are digitized through mobile apps like Gyft, and Raise
Marketplace.
e. Purse.io is a Bitcoin-based variation of this, where consumers can
purchase anything on Amazon for 15-25% off listed prices.
2. Purchases with Bitcoin
a. Largest merchant processor is Bitpay with ~25k merchant customers.
b. Large Merchants: Dell, Expedia, Overstock, Microsoft, NewEgg, Dish
c. Transaction growth is slow, due to Bitcoin’s Store-of-Value use case.
20. Use Cases, 4 of 7
E-commerce - Service Purchases
1. In-game Currencies seem stuck in niche subculture and in decline
a. World of Warcraft (Economy valued at $3B in 2011, but userbase down 50% from 2010
peak)
b. Eve Online (Economy of $36 million per year)
c. Second Life, Entropia
2. Mobile In-game / In-app Purchases aka - Freemium has won the market
a. This is responsible for about 80% of total app revenue which will be $77B by 2017.
b. Dominated by a few players
c. Clash of Clans, Game of War, Candy Crush - users advance standing through purchases
3. Peer-Peer Services
a. Streaming Video (Adult, Distance Learning, Breaking News, Pirated TV):
i. $Cashtags on Meerkat/Periscope to receive tips.
ii. Streamium - Bitcoin micropayment processing for video streamers
b. Fiverr - thousands of personal/business services for $5+ (and then accept Bitcoin)
c. Twitch - accounts for more than 43% of all live video-streaming traffic by volume.
21. Use Cases, 5 of 7
Real-money gaming: Fantasy Sports, Poker, Online Arcade Games
Investments (Equity Crowdfunding)
1. Title IV of US JOBS Act has opened much of this market to non-accredited investors.
2. Second Market, Onevest, Angel List
3. RealtyShares, Fundrise.com, Crowdfunder
4. Acorns, Wealthfront (now managing over $2B in client funds), Betterment (approx same size)
5. So-called Robo-Advisers is projected to remain very small (<%5) of market, and incumbents like
Schwab and Vanguard are moving in the space.
Interest Bearing Accounts
1. China is leading the way
2. Margin lending on BTC exchanges
3. Jua.com / Bitbank
Product Crowdfunding
1. Kickstarter / Indiegogo / GoFundMe (over $1B raised)
22. Use Cases, Crowdfunding
Crowdfunding:
1.Average successful crowdfunding
campaign $7000
2.In 2014, crowdfunding added
270,000 jobs and injected $65B into
the global economy
3.For 2015, crowdfunding is expected
to raise $34.4B
4. $529M pledged to KickStarter in 2014
23.
24.
25.
26. Use Case, 6 of 7
Peer-Peer Lending
a. Low loan rates
b. $9B in 2014, $64B forecasted
for 2015
c. LendingClub - $3.5B in 2014
i. investors make between
5-9% ROI
d. Prosper 2.0 - $1.6B in 2014
i. Average loans at
$13,000 with 13.9%
interest rates
27.
28.
29.
30. Use Cases, 7 of 7
Store of Value - BTC price in $
31.
32. Cyber Security
Cyber security issues:
1. Bank/Processor security breaches
a. Heartland Payment Sys (130M)
2. Merchant security breaches
a. Target (110M)
b. Sony Online (102M)
3. Health Insurance security breaches
a. Anthem (80M)
4. Government security breaches
a. US Social Security (76M)
What is the solution?
33. What Countries Lead The Pack?
1. Kenya: Mpesa (~20 Million users, and expanding to new countries)
2. China: Mobile Wallets, P2P Lending, Crowdfunding, Bitcoin Mining &
Exchanges, Interest Bearing Accts, etc, etc
3. India: largest microlending market in the world (Over 70M borrowers)
a. Despite 2010 meltdown, high-water mark has been surpassed, and
market is growing rapidly.
4. USA: Bitcoin, Fin-Tech Startups
5. UK: crowdfunded mortgages
a. Small, but growing.
b. Attractive due to ZIRP.
34. Notable Regulation - USA
1. US JOBS Act
a. Title 4 threw open the doors to equity crowdfunding for non-accredited
investors in Q2 2015.
2. New York Bitlicense (late 2014)
a. Seen by many as redundant, misguided, and an egotistical PR stunt
by the NY Superintendent of Financial Services.
b. Has caused many Bitcoin companies to cease NY operations.
c. First license issued 9/21/2015 to Circle.com.
3. California Bitlicense
a. Was also widely criticized as a destructive burden and political grab
for fame.
b. Was shelved by CA Senator Mitchell on 9/9/2015
35. Notable Regulation - China
1. In early 2014, Chinese government forbade Bitcoin exchanges from
transacting directly with banks.
2. This was effectively solved through the use of 3rd party money agents.
3. Chinese exchanges now claim that the banking restrictions have been
lifted.
4. What effect does/will the GFW (Great Firewall) have?
36. Speaker Contact Information
Chen Yu
Vitor Prado, vitor.prado@pradogittelson.com
Scott Robinson, scott@plugandplaytechcenter.com
Sean Walsh, sean@redwoodcityventures.com, @SeanWalshBTC,
WeChat - BigWaveW
Editor's Notes
Silicon Valley Innovation and Entrepreneurship Forum
STOP HERE - panelist commentary, and audience questions
What are underlying forces driving Internet Finance disruption?
There are really 2 primary reasons for the massive disruption we’re witnessing…
The $1.2 T annual Financial Services tax entrepreneurs have to play with.
The ease of matching lenders/borrowers using the Web.
There are about 7.5B people in the world.
There were only 1B land lines installed because they required credit check.
People with bank accounts did grow by 700M between 2011 and 2014 (and 62% of adults have a bank account).
World’s adult population is about 5B (⅔ of total).
These slides were provided Professor David Lee, of Singapore Management University, currently a Visiting Professor at Stanford
It should come as no surprise that many of the 1+ Billion previously mentioned people are outside of the US.
The point is that mobile phone are ubiquitous in China, and much of the EM
STOP HERE - panelist commentary on How much force does/will the growing juxtaposition between having Internet access, but no bank account, have on Financial Services disruption in the Emerging Market?
Even at the 48% internet penetration rate, China still has 2.5 US’s on the Web.
So, if all their mobile phones upgrade to smartphones over the next few years, China will have 5x US’s on the Web.
It is fair to say that the last 20 years have been littered with attempts to create virtual currencies of one sort or another.
What caused the failures? Many fell prey to banking regulation. In the words of Marc Andreesen, it is “cosmically difficult to work with US banking regulators”.
X.Com was Peter Thiel and Elon Musk
BAT = Baidu, Alibaba, Tencent
WeChat, Alipay, QQ
STOP HERE - panelist commentary on P2P transactions - How do you classify P2P transactions, and what trends do you see?
This is a good slide for Panelist input, especially Chen’s input on China, recent govt commitment to capital controls ($50k max per yr),
Interestingly, cross-border B2B payments is a $28T per year market: http://www.businessinsider.com/earthport-ceo-hank-uberoi-on-building-the-fedex-of-payments-2015-10?utm_source=feedly&utm_medium=referral
The gift card stats equate to a secondary market of $40B face value, maybe $15B in potential net revenue.
Daniel: Twitch - accounts for more than 43% of all live video-streaming traffic by volume. Twitch was bought by Amazon for $970M. Some successful streamers can make over $100,000 by just streaming music/videogames.
http://www.twitch.tv/year/2013 -Incredible statistic for peer-peer services
Kickstarter - Funding Platform for seed investments
https://www.crunchbase.com/organization/kickstarter
Alternative financing via the Internet
If these market stats are true, this may be the biggest story in Internet Finance for 2015
I think the biggest risk with P2P is lack of consolidation of the borrowers’ repayment reputations, allows borrowers to jump to other lending platforms.
A great form of alternative financing
http://www.nunatak.com/wp-content/uploads/2015/01/Nunatak-Update-v5-FinTech-Eng.pdf
STOP HERE - panelist commentary - Is P2P sustainable? Also, any thoughts on or experience with Crowdfunding?
I think it’s important to recognize a few facts…
BTC was diluted by over 10% in 2014
BTC will be diluted by about 8% in 2015
BTC dilution will drop below 3% by 2020, and quickly approach 0% thereafter
Virtual currencies are in their infancy relative to fiat currencies
BTC averaged under $15 until 2013. Current 2 year return is about 15x.
STOP HERE - AUDIENCE QUESTIONS on the multitude of Use Cases we’ve just discussed
US M2 is growing about 8% annually now: https://research.stlouisfed.org/fred2/series/M2
But BTC, an exploding global network phenomenon, will be ¼ of that by 2020 (at below 2%)
STOP HERE - panelist commentary
Tom Ridge: https://www.ridgeglobal.com/tom-ridge/
Symantec: http://us.norton.com/
“Cybercrime is a clear, present, and permanent danger. While it’s a permanent condition, however, the actors, threats, and techniques are very dynamic.” - Tom Ridge
Credit/Debit cards leave a money trail, so people can use to expose individuals
ex-Federal agents leverage their knowledge in NSA and other federal department for higher paying jobs
Hackers have exposed personal information of over 110 million people
In 2014, Symantec’s Internet Security Report revealed that 253 data breaches took place in 2013, 62% increase from 2012.
Target breach in 2013, affecting roughly 40,000 debit/credit cards
IRS Breach earlier this year exposed over 300,000 people’s information