1. QWAFAFEW TALK
Dushyant Shahrawat, CFA
Block Chain: Trends,
Perspectives and Key Insights
Dec 15, 2015

3. Let’s Do the Numbers…
$921 mill. Cumulative VC investment in Bitcoin
and Block chain companies
$121 mill. Largest funding total raised by Bitcoin
developer 21 Inc.
805 Number of early stage startups
30+ Financial institutions testing, analyzing and
investing in Block chain
11m Number of registered Bitcoin wallets in Sep
2015
106,000 Number of merchants who accept Bitcoin
Block chain technology is #1
innovation that Goldman Sachs is
investing in
Ex JPM execs remain committed to
Block chain despite top rival offers
R3 creates a consortium of securities
firms to agree to standards, and
develop use cases

4. VC Investment In 2015 Tops $500mill, 50% More Than In 2014
Q3’15
$87.5

5. Investor Base is Broadening with Corporates,VCs, Exchanges and FI’s
Jumping On The Bandwagon

6. Consider Block Chain in the Context of the Internet’s Evolution
Publishing
Brochureware
Ecommerce
Personalized,
Contextual service
What’s
Next??
“Bitcoin is to Block chain what
Pornography was to the Internet.”

7. We Are In Stage 3 of a 15 Year Evolution
2007-2009
EARLY STAGE GROWTH PLATEAU MATURITY
2010-2013 2014-2016 2017-2020 2020-2025
INCEPTION
Satoshi creates
Block chain
Few people even
know about it
Interest slowly
grows
Practioners,
private firms first
take notice
Startups begin
emerging
First Investments
begin
Mostly academics
involved Rising Popularity
Investment activity
explodes
Startups crawl out
of the woodwork
Amazing number of
use cases emerge
Governments take
serious note
VC Investment
slows markedly
Shakeout in
startup camp
Disappointment,
snake oil anyone?
Reality sets in
about use cases
Technology
matures, greater
standardization
Hype/pessimism
replaced with
pragmatism
Global agreements
and regulatory
rules mature

8. What Is It…
Benefits &
Characteristics...

9. Distributed Ledger Builds on Decentralized Systems
Source: WEF Draft Report. Not to be Reproduced

10. Four CharacteristicsDefine Distributed Ledgers
Source: WEF Draft Report. Not to be Reproduced

11. Benefits... and Challenges
Source: WEF Draft Report. Not to be Reproduced

14. Use Cases for Block
Chain

17. Many Applications Are
Emerging in Financial
Services

18. Three Major Use Cases Are…
Source: WEF Draft Report. Not to be Reproduced

19. Source: WEF Draft Report. Not to be Reproduced

20. Source: WEF Draft Report. Not to be Reproduced

21. Source: WEF Draft Report. Not to be Reproduced

22. Source: WEF Draft Report. Not to be Reproduced

23. Source: WEF Draft Report. Not to be Reproduced

24. Source: WEF Draft Report. Not to be Reproduced

25. Source: WEF Draft Report. Not to be Reproduced

26. Nasdaq’s Decision to Power Its Private Market Using Block Chain Is a
Major Endorsement
• Linq platform (part of Nasdaq’s Private Market) to run on block chain
• Brings liquidity, transparency and efficiency to private market
• Legitimizes ‘back of the envelope’ agreements
• Shot across NYSE’s bow, Nasdaq’s arch rival

27. Looking Ahead…
...What’s in Store

28. Bitcoin Infrastructure
(61 Companies)
Blockchain Innovations
(58 Companies)
Big Data (4)
Investments
(22 Companies)
Bitcoin Payments
(88 Companies)
Bitcoin Exchanges
(191 Companies)
Bitcoin Mining
(58 Companies)
Services
(74 Companies)
Bitcoin Financial Services
(112 Companies)
Bitcoin Wallets
(90 Companies)
News & Data
(52 Companies)
Trust (13)
Bitcoin
Gambling
(31 Companies)
Contact
info@venturescanner.com
to see all 738 companies
Bitcoin
MarketMap

29. We Are In Stage 3 of a 15 Year Evolution
2007-2009
EARLY STAGE GROWTH PLATEAU MATURITY
2010-2013 2014-2016 2017-2020 2020-2025
INCEPTION
Satoshi creates
Block chain
Few people even
know about it
Interest slowly
grows
Practioners,
private firms first
take notice
Startups begin
emerging
First Investments
begin
Mostly academics
involved Rising Popularity
Investment activity
explodes
Startups crawl out
of the woodwork
Amazing number of
use cases emerge
Governments take
serious note
VC Investment
slows markedly
Shakeout in
startup camp
Disappointment,
snake oil anyone?
Reality sets in
about use cases
Technology
matures, greater
standardization
Hype/pessimism
replaced with
pragmatism
Global agreements
and regulatory
rules mature

30. Some Factors That Could Jeopardize, or Slow Growth
• Regulatory change of heart
• Lack of international coordination
• Privatechainssplinter ongoing growth
• Slow adoption and lethargicpaceof development causeinnovation fatigue
• Powerful commercial interests get in theway

31. Dushyant Shahrawat, CFA
Dec 15, 2015
HAPPY HOLIDAYS!