Embed Size (px)
Citation preview
ReinventingMarketswithBlockchain
DavidL.Shrier,ManagingDirector,MITConnectionScience21December2015
(c)FarHorizonsManagement
FutureCommerce
Agenda
§ Introduction toFutureCommerce
§ Whatis“theBlockchain”?
§ Applications
§ Howisitchangingmoney&payments?
§ Howisitchangingmarkets?
§ Howcoulditchangeinsurance?
§ Whatcouldhappentodataandsecurity/privacy?(MITENIGMA)
§ Whataretheopportunities?
December2015 (c)FarHorizonsManagement 2
MITFutureCommerceInstructors
December2015 (c)FarHorizonsManagement
ALEX"SANDY"PENTLANDMITProfessor;advisesU.N.SG,WEF,Google,othersonData/Analytics
DAVIDSHRIERManagingDirector,MITConnectionScience
BRIANFORDEDirector,MITDigitalCurrencyInitiative
JOOSTBONSENMIT’sventurecatalyst
3
Fintech ishot
December2015 (c)FarHorizonsManagement
YTDSep2015$12.4Bn*
GlobalFinTech VCInvestments
*source:Finovate
4
FutureCommerceThemes
December2015 (c)FarHorizonsManagement
SECURITY&PRIVACY
MARKETS
MONEY&PAYMENTS
INFRASTRUCTURE
5
Let’smaketheleap…
December2015 (c)FarHorizonsManagement 6
WHATIS“THEBLOCKCHAIN”?BASICS
December2015 (c)FarHorizonsManagement 7
IntrotoBlockchain
§ Therearemanyblockchains§ It’saformof“distributed ledger”
§ Let’sdiveintoasimplified “blockchain”
December2015 (c)FarHorizonsManagement
GENESISBLOCK
BLOCK1 BLOCK2 ... BLOCKN
8
Blockchain runsondistributednetworkofservers
December2015 (c)FarHorizonsManagement 9
Ledgers:centralizedvs.decentralizedvs.distributed
December2015 (c)FarHorizonsManagement 10
Source:WorldEconomicForum2015
üFAST
üTRANSPARENTüDIRECT
üLOWERCOST
üMORESECUREüMORECONVENIENT
WHATCANWEDOWITHTHIS?
December2015 (c)FarHorizonsManagement 11
Money/Payments
December2015 (c)FarHorizonsManagement
“NEW”
“CONVENTIONAL”
$
12
€
InAfrica,10Xto100Xlessexpensive
BANK1 CENTRALBANK
BANK2
PROCESSINGNETWORK
PROCESSINGNETWORK
EXPENSIVE COMPLICATED TAKES3DAYS
$ €ALTCOINCOMPANY
CHEAP FAST
FINANCIALMARKETS
December2015 (c)FarHorizonsManagement
“NEW”
“CONVENTIONAL”
€
13
AAPLBANK1 DTCC
BROKER BROKER
EXPENSIVE COMPLICATED TAKES90DAYS
€ AAPLDIGITALXCHNG
CHEAP FAST
EXCHANGE
Insurance
December2015 (c)FarHorizonsManagement
BROKER
BROKER
BROKER
INSURANCECOMPANY
RISKPOOL
MGA
SELFINSURED
FUTURE1 FUTURE2 FUTURE3
?
TODAY
$€
$€
BUYERSOFRISK
14
DIRECT
Datasecurity
December2015 (c)FarHorizonsManagement 15
DATA
trust.mit.edu
MAKETHICKERWALLS
TODAY
FUTURE
Commercialopportunities
§ Disaggregatethebanksandinsuranceco’s
§ Eliminatefriction (takeoutmiddlemen)
§ Improvefinancialaccess
§ Democraticidentity
§ Reducefraud
§ Enhanceanalytics
§ Decreasetimetomarketforfood
§ Improvevelocityofmedia(music, film…)
§ …possibilities areendless
December2015 (c)FarHorizonsManagement 16
FutureCommerceOnline!
December2015 (c)FarHorizonsManagement 17
http://mit.getsmarter.ac/future_commerce/
ü 8weekdigitalcourse
ü Expertperspectives
ü Personalizedexperience
ü CertificatefromMIT
DavidL.ShrierManagingDirector,Connection ScienceMassachusettsInstituteofTechnology
[email protected] /@DavidShrierconnection.mit.eduwww.futureenterprise.eu
