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William Mougayar - Towards the Blockchain Economy

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Presentation made in Zug, Switzerland, at the Crypto Valley Association June 2018 Conference

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William Mougayar - Towards the Blockchain Economy

  1. 1. Towards The Blockchain Economy William Mougayar Investor, Advisor, Board Member Managing Partner, JM3 Capital Author, The Business Blockchain Founder, The Token Summit and WMX @wmougayar wmougayar@gmail.com Zug, 21 June 2018
  2. 2. Disclosures and Market Activities •  Book (10 languages) •  Token Summit •  Blogging •  WMX Blockchain Index •  Tech Accelerators & VC relationships •  Knowledge websites •  Strategic Advisory •  Boards & Foundations •  Startups Investments •  ICOs participation •  Regulatory interactions © 2018 William Mougayar @wmougayar
  3. 3. Tokens 1.0 vs. Tokens 2.0 Copying what we see vs. Inventing what we don’t see © 2017 William Mougayar @wmougayar
  4. 4. OLD NEW NEW OLD NEW NEW COMPANIES SCOPE © 2018 William Mougayar @wmougayar Segmentation of Implementations ? ✔ 1.0 2.0 B2B
  5. 5. Staying True to Blockchain Fundamentals Is EXTREMELY Important, but Often Forgotten ü  Replacing intermediaries ü  New (digital) Value liquidity ü  Proofs of X ü  Automatically enacting consequences ü  P2P infrastructures ü  Decentralized governance ü  New technical protocols ü  New ownership models © 2018 William Mougayar @wmougayar
  6. 6. © 2018 William Mougayar @wmougayarSource: Elementus
  7. 7. Source: Bloxy.info
  8. 8. New Tokens Created Daily 200-300 Source: Bloxy.info
  9. 9. Total Participants in Crowdsales 1M Source: William Mougayar
  10. 10. Smart Contracts Created Daily 20,000 Source: Bloxy.info
  11. 11. Smart Contracts Used Daily 1M Source: Bloxy.info
  12. 12. Ethereum Txns from Smart Contracts 53% Source: Amberdata
  13. 13. CryptoKitties Txns in first 6 months 2.8M Source: Amberdata
  14. 14. © 2018 William Mougayar @wmougayar Tracking the Blockchain Market with Numbers Market Cap _ USD 280 B * Daily Trades _ USD 18 B Total Raised _ USD 26 B Coins Traded _ 1,639 Apps _ 5,000+ Macro View •  Active Users (Daily, Weekly or Monthly) •  Total transactions (number) •  Value of transactions (value) •  Balances in smart contracts (value) •  Transactions to/from contracts (number) •  Value of transactions to/from contracts (value) •  Blockchain rewards to users (value) •  Wallets value (value) Outcomes •  Unique addresses •  Active addresses •  Wallets •  Nodes •  Transactions per second •  Blocks per hour •  Developers •  API calls •  Software downloads •  Repositories •  Commits •  App downloads •  Clients Activity (numbers) Traction View * as of June 14 2018, Source: CoinMarketCap
  15. 15. Decentralization On-Chain 0% 100% 100% IDEAL ? ? © 2018 William Mougayar @wmougayar
  16. 16. Ideals of Decentralized Applications ①  P2P infrastructure ②  Underlying protocols ③  Decentralized operations ④  Blockchain transactions ⑤  Distributed content ⑥  End-user ownership empowerment ⑦  Decentralized autonomy ⑧  Distribution of rewards/benefits © 2018 William Mougayar @wmougayar
  17. 17. Some Decentralization Examples •  Blockchains •  P2P Commerce (OpenBazaar) •  CryptoAssets Trading (CryptoKitties) •  Decentralized Exchanges (0x) •  Decentralized Storage (Storj, Filecoin) •  Decentralized Computing (Golem, Dfinity) •  Decentralized Content (Peepeth) •  More… © 2018 William Mougayar @wmougayar
  18. 18. Where Are All the Decentralized Apps © 2018 William Mougayar @wmougayar
  19. 19. ①  What needs to work ②  What needs more work ③  What won’t work © 2018 William Mougayar @wmougayar
  20. 20. What needs to work •  Standards •  Scalability •  Interoperability •  New exchanges / clearing houses •  Native assets (creative, finance, physical) •  Token types •  Economic models © 2018 William Mougayar @wmougayar
  21. 21. What needs more work •  Killer features •  Stablecoins •  On-chain governance •  Understanding economic models © 2018 William Mougayar @wmougayar
  22. 22. What won’t work •  Boil the ocean approaches •  Head-on disruption •  White papers •  Dressed-up websites •  Cool ideas •  No governance •  High valuations too early © 2018 William Mougayar @wmougayar
  23. 23. The point of attempting to classify tokens is not to better regulate them. It is to better understand them. © 2018 William Mougayar @wmougayar
  24. 24. © 2017 William Mougayar @wmougayar Token Utility is Simple ü  Right ü  Ownership ü  Work ü  Currency
  25. 25. What Should Regulators Do? 1.  Apply existing regulations 2.  Update existing regulations 3.  Allow self-regulation 4.  Create new regulations 5.  Freeze regulation with Safe Harbors 6.  Recognize a new asset class 7.  Harmonize global regulation © 2018 William Mougayar @wmougayar ü  Innovative ü  More Difficult ü  Easiest
  26. 26. Current Regulation Landscape 1.  4 spheres: Asia, NA, Europe, Alternative jurisdictions (Liechtenstein, Gibraltar, Malta, Cayman, etc.) 2.  Balkanization of regulation is already here 3.  Competition vs. harmonization 4.  Classification of tokens will be difficult © 2018 William Mougayar @wmougayar
  27. 27. Selling the Vision Build-out Installation Deployment Acceleration Vision Realization 2018-2020 2013-2015 2015-2016 2021+ 2016-2018 2019-2021 Blockchain: The Evolution We are here © 2017 William Mougayar @wmougayar
  28. 28. Blockchain Usage Is Here © 2018 William Mougayar @wmougayar
  29. 29. Can the blockchain lead us to a new world that is better than the current one? © 2018 William Mougayar @wmougayar
  30. 30. © 2018 William Mougayar @wmougayar Computation Protocols Data Content Storage Work Rewards EarningSpending Sharing Industry Trade Law Finance Nations The Blockchain Economy
  31. 31. The stone age didn’t end for a lack of stones. © 2018 William Mougayar @wmougayar
  32. 32. THANK YOU William Mougayar Investor, Advisor, Board Member Managing Partner, JM3 Capital Author, The Business Blockchain Founder, The Token Summit and WMX @wmougayar wmougayar@gmail.com http://startupmanagement.org/blog jm3.capital

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