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Blockchain:Largest Technology Opportunity Since the Internet
Kevin Jenkins
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A FEW QUESTIONS TO BEGIN: Who has heard of Blockchain?
Who can explain Blockchain?
Who has completed any transactions that used Blockchain?
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BLOCKCHAINAn efficient decentralized transfer of digital transactions via a network
INTERNETAn efficient decentralized transfer of digital information via a network
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Database (with copies replicated across multiple locations or nodes)
of transactions (between two or more parties)
split into blocks (with each block containing details of the transaction such as the seller, the buyer, the price, the contract terms, and other relevant details)
which are validated by the entire network (via encryption by combining the common transaction details with the unique signatures of two or more parties. Valid if the result of the encoding is the same for all nodes)
and added to the chain of prior transactions (as long as the block is validated).
BLOCKCHAIN IS…
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BLOCKCHAIN IS NOT BITCOIN
Disruptive
Open to Free Innovation
New Currency
Efficient
Cost Reducing
Interoperable
Peer-to-peer Network
Transparent
Cryptographic Methodologies
Bitcoin Blockchain
How do people pay each
other electronically without
Financial Institutions?
How digital transactions are
processed electronically
without an intermediary?
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HOW BLOCKCHAIN WORKS…
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HOW BLOCKCHAIN WORKS…Today Tomorrow
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TREMENDOUS BENEFITS… Lower transaction costs Faster transactions Empowered users Disintermediation & trustless exchange High quality data Durability, reliability, and longevity Security Transparency and immutability Ecosystem simplification
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CHANGE ON THIS SCALE IS A MARATHON NOT SPRINT
20162008 2009 2011
Satoshi NakamotoIntroduced the world to Bitcoin through a whitepaper
Bitcoin: A Peer-to-Peer Electronic Cash System
1st Bitcoin Transaction
Bitcoin Marketplace
Market cap > $1B – 10x growth
1 BTC = $31.91
R3 FormedConsortium of 40 financial groups to explore Blockchain
Gem Health Network: connected healthcare through Blockchain
NASDAQ commits to Blockchain trial
2010
Market cap > $1M USD
2013
Ethereum Project – using Blockchain for Smart Contracts
2014 2015
Chain.com receives $30M from Visa, Capital One and other FinSERV
You Decide What is Next
$1B+ Already Invested in Blockchain
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WHY NOW…
1990 1995 2000 2005 2010 2015 2020 20250
10000
20000
30000
40000
50000
60000
70000 Internet GrowthGBps
Blockchain is Here
US Google Search Trends
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OPPORTUNITIES ARE ENDLESS...
Securities
1
Smart Contracts
Digital Currency
Record Keeping
2 3 4
• Equities• Debt• Crowdfunding• Derivatives
• Digital Rights• Wagers• Escrow
• Global Commerce
• P2P, B2B, M2M
• Microfinancing
• Healthcare• Ownership• Voting• IP
Blockchain
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TODAY, 2 BILLION ADULTS REMAIN WITHOUT A BANK ACCOUNT
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DISRUPTION WITH GRIDSINGULARITY• $2-7B Smart Grid
Opportunity in US
• Connects Local Power Generators – you and your neighbors distribute solar to consumers
• Sorry Utility Monopolies – the end is near :/
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WORDS OF WISDOM…Bullish Blockchain Entrepreneur
• Improve open networks - solving the hard problems, proving the skeptics wrong
• Frugality with VC money - it will probably take longer than you think!
• Continue perseverance - you are trying to create a new way of doing things – for better or for worse, and however it may end up
Observing on Sideline
• Continuous learning - keep reading, talking, learning, and understanding.
• Question the status-quo - challenge the hand-wavers if something doesn’t sound or feel right
• Stay optimistic - keep watching the evolution of this space, the future is exciting!
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Thank You
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IF YOU LIKE TO DREAM BIG AND PUSH THE BOUNDARIES OF ENTREPRENUARSHIP...
Contact Me:
Kevin Jenkins