William Mougayar Talks at Google

transcript

vcapv.com © William Mougayar, Virtual Capital Ventures

William Mougayar

General Partner, Virtual Capital VenturesAuthor, The Business Blockchain

Blockchains: Past, Present and Future

July 6 2016

CryptographyScience

BLOCKCHAIN

SoftwareEngineering

GamingTheory

CryptographyScience

The Blockchain Novelty

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

Many Facets to the Blockchain① Cryptocurrency② Computing Infrastructure③ Transaction Platform④ Decentralized Database⑤ Distributed Accounting Ledger⑥ Development Platform⑦ Open Source Software⑧ Financial Services Marketplace⑨ Peer-to-Peer Network⑩ Trust Services Layer

5vcapv.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

Types of Blockchain Applications

Four Types of Blockchain Applications

Some Basic Concepts① Smart Property② Time Stamping③ Multi-signature Transactions④ Smart Contracts⑤ Oracles⑥ State Machines

In the mid-2000’s FinTech Attacked the Banks, and it was called “Unbundling Banking”

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

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

ExchangesBrokerage

Money Services

Investments

Trading Platforms

Hard WalletsSoft Wallets

Payroll & Insurance

Payments

ComplianceMerchants

Trade Finance

Source: http://startupmanagement.org/blog

Financial Data

Microtransactions

Capital Markets

SelfPublishing

E-Commerce

Social Interactions

IT Supremacy Internet Years

Defining Technology Eras

Personal Communications

Blockchain Promise

1994 2015

Data computation

Database applications

Transaction processing

Business Intelligence

Global operations

Enabling

Decentralizationof

Value Flowwithout

Intermediaries

A T O M I C Blockchain

Programmable

ASSETS

OWNERSHIP

IDENTITY

CONTRACTS

With that, comes a lot of responsibility, because it’s P2P !!

UNREGULATEDENVIRONMENTS

REGULATEDENVIRONMENTS

Innovation Potential for Blockchain

Proof Services

Proving Everything As a Service

OpenBazaar: Decentralized P2P Commerce

“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.”

CryptographyScience

BLOCKCHAIN

Humans

RegulatorsMachines

Reconfiguring Trust

3 Pillars of Decentralization

Decentralization – What does it look like?① No intermediary delays, speed② Upfront/Permissionless user identification and reputation, without

censorship③ Flat structures with little overhead④ Trust built inside the network⑤ Resiliency against attacks⑥ No central point of failure⑦ Governance decisions by consensus⑧ Peer-to-peer communications

How New Technology Permeates

13 Generic Ideas for Implementing Blockchains

1. Rethinking intermediary functions2. Bundling / Unbundling3. New flows of value4. Decentralized governance5. New legal frameworks6. Creating/Issuing digital assets7. Embedding trust rules inside transactions8. Implementing digital signatures & what they enable9. Proofs of records / transactions / process / storage etc.10. Verifying authenticities11. Embedding digital identities12. Escrow / custodial services13. Enabling smart things to transact autonomously

Who will be the next

Google of the blockchain?

Oracle of the blockchain?

Netscape of the

blockchain?

Who will be the next ____

of the blockchain?

The first large bank to accept

cryptocurrency?

Crossing $1B assets traded

on blockchains?

The first crypto-based economy

business?

3 Predictions① Cryptocurrency payments will not disrupt

the existing world② Distributed Ledgers are for improvements,

Blockchains are for innovation③ The Crypto Economy is where value will be

created

William MougayarInvestor . EntrepreneurBlogger . Board Member

General PartnerVirtual Capital Ventures

william@vcapv.com1-416-648-7010

http://startupmanagement.org/blog http://vcapv.com @wmougayar

thank you