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William Mougayar Talks at Google

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On July 6th 2016, The Business Blockchain author William Mougayar made a presentation at the Googleplex headquarters in Mountain View on the topic of blockchains and where the crypto-technology market is going.

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William Mougayar Talks at Google

  1. 1. vcapv.com © William Mougayar, Virtual Capital Ventures William Mougayar ​General Partner, Virtual Capital Ventures ​Author, The Business Blockchain Blockchains: Past, Present and Future July 6 2016
  2. 2. vcapv.com © William Mougayar, Virtual Capital Ventures Cryptography Science BLOCKCHAIN Software Engineering Gaming Theory Cryptography Science ​ The Blockchain Novelty
  3. 3. 3© William Mougayar, Virtual Capital Ventures.vcapv.com © William Mougayar, Virtual Capital Ventures ​ How to view the Blockchain Source: The Business Blockchain (Wiley, 2016) © William Mougayar
  4. 4. 4© William Mougayar, Virtual Capital Ventures.vcapv.com © William Mougayar, Virtual Capital Ventures ​ Many Facets to the Blockchain a. Cryptocurrency b. Computing Infrastructure c. Transaction Platform d. Decentralized Database e. Distributed Accounting Ledger f. Development Platform g. Open Source Software h. Financial Services Marketplace i. Peer-to-Peer Network j. Trust Services Layer
  5. 5. 5 vcapv.com © William Mougayar, Virtual Capital Ventures Blockchains, like the Web, need the Internet I N T E R N E T WORLD WIDE WEB BLOCKCHAINS Source: The Business Blockchain (Wiley, 2016) © William Mougayar
  6. 6. 6 vcapv.com © William Mougayar, Virtual Capital Ventures Source: The Business Blockchain (Wiley, 2016) © William Mougayar Types of Blockchain Applications
  7. 7. 7 vcapv.com © William Mougayar, Virtual Capital Ventures Four Types of Blockchain Applications Source: The Business Blockchain (Wiley, 2016) © William Mougayar
  8. 8. 8© William Mougayar, Virtual Capital Ventures.vcapv.com © William Mougayar, Virtual Capital Ventures ​ Some Basic Concepts a. Smart Property b. Time Stamping c. Multi-signature Transactions d. Smart Contracts e. Oracles f. State Machines
  9. 9. 9 vcapv.com © William Mougayar, Virtual Capital Ventures ​ In the mid-2000’s FinTech Attacked the Banks, and it was called “Unbundling Banking” U.S. Europe  In startup fashion, most attacks aren’t head-on, start small & look harmless at first sights, therefore are ignored  So, the banks didn’t feel FinTech initially, because it crept up  The blockchain will repeat FinTech Graphs Source: CB Insights
  10. 10. vvv BLOCKTECH in FINANCIAL SERVICES VIRTUALscape by William Mougayar BLOCKTECH in FINANCIAL SERVICES VIRTUALscape by William Mougayar INFRASTRUCTURE & BASE PROTOCOLS MIDDLEWARE & SERVICES Public Special Services Software Development Special APIsGeneral APIs Platforms Smart Contracts MinersPayment APPLICATIONS & SOLUTIONS Virtual Capital Ventures © 2015 1.7 ExchangesBrokerage Banks Money Services Investments Trading Platforms Hard WalletsSoft Wallets ATMs Payroll & Insurance Payments Compliance Merchants Trade Finance Source: http://startupmanagement.org/blog Financial Data Microtransactions Capital Markets
  11. 11. 11 vcapv.com © William Mougayar, Virtual Capital Ventures Self Publishing Self Publishing E- Commerce E- Commerce Social Interactions Social Interactions IT Supremacy Internet Years ​ Defining Technology Eras Personal Communications Personal Communications Blockchain Promise 1994 2015 Data computation Database applications Transaction processing Business Intelligence Global operations Enabling Decentralization of Trust Value Flow without Intermediaries
  12. 12. 12 vcapv.com © William Mougayar, Virtual Capital Ventures A T O M I C Blockchain Programmable ASSETS TRUST OWNERSHIP MONEY IDENTITY CONTRACTS  With that, comes a lot of responsibility, because it’s P2P
  13. 13. 13 vcapv.com © William Mougayar, Virtual Capital Ventures UNREGULATED ENVIRONMENTS REGULATED ENVIRONMENTS ​ Innovation Potential for Blockchain
  14. 14. 14 vcapv.com © William Mougayar, Virtual Capital Ventures ​ Proof Services Source: The Business Blockchain (Wiley, 2016) © William Mougayar
  15. 15. 15 vcapv.com © William Mougayar, Virtual Capital Ventures Proving Everything As a Service Source: The Business Blockchain (Wiley, 2016) © William Mougayar
  16. 16. 16 vcapv.com © William Mougayar, Virtual Capital Ventures OpenBazaar: Decentralized P2P Commerce
  17. 17. vcapv.com © William Mougayar, Virtual Capital Ventures “The buying and selling works flawlessly, I'm very impressed. I've made over twenty purchases and the total fees were less than $1.40 for all twenty purchases and sales.That's great.”
  18. 18. vcapv.com © William Mougayar, Virtual Capital Ventures Cryptography Science BLOCKCHAIN Humans RegulatorsMachines ​ Reconfiguring Trust
  19. 19. 19© William Mougayar, Virtual Capital Ventures.vcapv.com © William Mougayar, Virtual Capital Ventures ​ 3 Pillars of Decentralization
  20. 20. 20© William Mougayar, Virtual Capital Ventures.vcapv.com © William Mougayar, Virtual Capital Ventures Decentralization – What does it look like? a. No intermediary delays, speed b. Upfront/Permissionless user identification and reputation, without censorship c. Flat structures with little overhead d. Trust built inside the network e. Resiliency against attacks f. No central point of failure g. Governance decisions by consensus h. Peer-to-peer communications Source: The Business Blockchain (Wiley, 2016) © William Mougayar
  21. 21. 21 vcapv.com © William Mougayar, Virtual Capital Ventures How New Technology Permeates
  22. 22. 22© William Mougayar, Virtual Capital Ventures.vcapv.com © William Mougayar, Virtual Capital Ventures 13 Generic Ideas for Implementing Blockchains 1. Rethinking intermediary functions 2. Bundling / Unbundling 3. New flows of value 4. Decentralized governance 5. New legal frameworks 6. Creating/Issuing digital assets 7. Embedding trust rules inside transactions 8. Implementing digital signatures & what they enable 9. Proofs of records / transactions / process / storage etc. 10. Verifying authenticities 11. Embedding digital identities 12. Escrow / custodial services 13. Enabling smart things to transact autonomously
  23. 23. 23 vcapv.com © William Mougayar, Virtual Capital Ventures Who will be the next Google of the blockchain?
  24. 24. 24 vcapv.com © William Mougayar, Virtual Capital Ventures Who will be the next Oracle of the blockchain?
  25. 25. 25 vcapv.com © William Mougayar, Virtual Capital Ventures Who will be the next Netscape of the blockchain?
  26. 26. 26 vcapv.com © William Mougayar, Virtual Capital Ventures Who will be the next ____ of the blockchain?
  27. 27. 27 vcapv.com © William Mougayar, Virtual Capital Ventures The first large bank to accept cryptocurrency?
  28. 28. 28 vcapv.com © William Mougayar, Virtual Capital Ventures Crossing $1B assets traded on blockchains?
  29. 29. 29 vcapv.com © William Mougayar, Virtual Capital Ventures The first crypto- based economy business?
  30. 30. 30© William Mougayar, Virtual Capital Ventures.vcapv.com © William Mougayar, Virtual Capital Ventures ​ 3 Predictions a. Cryptocurrency payments will not disrupt the existing world b. Distributed Ledgers are for improvements, Blockchains are for innovation c. The Crypto Economy is where value will be created
  31. 31. vcapv.com © William Mougayar, Virtual Capital Ventures ​William Mougayar ​Investor . Entrepreneur ​Blogger . Board Member ​General Partner ​Virtual Capital Ventures ​william@vcapv.com ​1-416-648-7010 ​http://startupmanagement.org/blog ​http://vcapv.com ​@wmougayar thank you

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