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WHERE IS DECENTRALIZATION HEADED?
William MougayarInvestor, Advisor, Board Member
Author, The Business BlockchainFounder, The Token Summit and WMX
@wmougayar
Moscow, 8 Dec 2017
3 Levels of Disruption
TECHNICAL
BUSINESS
LEGAL© 2017 William Mougayar @wmougayar
Database
Computing
Tokens as a new killer app
Native business models
Smart contracts
Googling 2.0
© 2017 William Mougayar @wmougayar
“You never change things by fighting the
existing reality. To change something,
build a new model that makes the
existing model obsolete.”---- Buckminster Fuller
The Blockchain IS1. Cryptocurrency
2. Computing Infrastructure
3. Transaction Platform
4. Decentralized Database
5. Distributed Ledger
© 2017 William Mougayar @wmougayar
6. Development Environment
7. Open Source Software
8. Financial Services Market
9. Peer-to-Peer Network
10. Trust Services Layer
The Big Themes1. Programming Money
2. Tokens as Utility
3. Business Process
Reengineering
© 2017 William Mougayar @wmougayar
4. Transactions in Value
5. Proving the truth
6. New Assets Liquidity
7. Governance Models
Key application areas1. Money
2. Financial products
3. ICOs
4. Native assets trading
5. Fractional ownerships liquidity© 2017 William Mougayar @wmougayar
The killer app for the blockchain is not
tokens, but it is the creation of private
economies or ecosystems.
Tokens are just enablers to that.
© 2017 William Mougayar @wmougayar
What is Tokenomics1. How you design your token role
2. How you distribute your tokens
3. How you govern your token monetary policy
© 2017 William Mougayar @wmougayar
Tokens 1.0 vs. Tokens 2.0Copying what we see
vs.
Inventing what we don’t see© 2017 William Mougayar @wmougayar
Staying True to Blockchain Technology1. Removal of an intermediary or counterparty, and letting the
blockchain enact consequences
2. Peer-to-peer as infrastructure
3. Network effects with new protocols
4. Decentralization at many levels
5. Autonomy in governance © 2017 William Mougayar @wmougayar
ACID TEST for Tokens1. What would happen without the token?
2. Why do you need a blockchain?
3. What is the blockchain enabling that wasn’t possible
before?
© 2017 William Mougayar @wmougayar
BLOCKCHAIN IS 90% GOVERNANCE AND BUSINESS MODELS.
THE OTHER 50% IS TECHNICAL.
© 2017 William Mougayar @wmougayar
3 Ways to exploit the blockchain
© 2017 William Mougayar @wmougayar
Old trying New
New applying Old
New
inventing
New
Will decentralized open source
protocols be more powerful than
their web equivalent?
© 2017 William Mougayar @wmougayar
Will regulators poke the blockchain
in the eye, or ship it in shape?
© 2017 William Mougayar @wmougayar
Will Wall Street adopt blockchain
technology, or will a new financial
system emerge?
© 2017 William Mougayar @wmougayar
Are tokens here to stay, and will we
see more standards beyond ERC
20 & ERC 721?© 2017 William Mougayar @wmougayar
Thoughts for 2018
1. Regulation
2. Crypto Funds
3. Scalability© 2017 William Mougayar @wmougayar
4. “Better” blockchains
5. On-chain governance
6. Role of Foundations
THANK YOUWilliam MougayarInvestor, Advisor, Board Member
Author, The Business BlockchainFounder, The Token Summit and WMX
@wmougayar
wmougayar@gmail.com
http://startupmanagement.org/blog
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