AN INVESTORS VIEW ON BLOCKCHAIN

Jamie BurkeOutlierVentures.io + BlockchainAngels.eu

@jamie247

Paradigm Shift1. Next phase of The Web2. Decentralises centralisation of Web 2.03. Outdated rentier / platform models4. Collaborative economies at scale5. Core function likely not business 6. Not about owning code its about creating

markets

What is the value they can bring?

Provenance P2P Exchange

Digital Trust

Supply Chains

Task Automation

Distributed Database Auditability

B2B Marketplaces

Identity Paperless Security Transparency

GovernanceRedundancyReduce Fraud

Sharing Economy

B2C Marketplaces

M2M

Liquidity

Asset Integrity Back Office

3 x Opportunities

1.Trying to fix legacy systems2.Disrupting disruptors3.Real innovation in emerging

markets

Risks & Challenges1. Timing. Being first not

always best.2. Tech Infrastructure

Building Blocks3. Scalability & Costs4. Barriers to entry lower5. Race to free (leaves with

regulated services)

What I say to investors / startups

1. Even riskier than normal early stage2. More than ever investing in people /

teams3. No idea is unique.. For long4. Stealing advance in a general direction5. Blockchain 10% practice 90% planning6. Borrow more than you build

Outlier Venture Building

BitcoinExperiment

BaaS

‘Open Ledger’ Standards

Mainstream

Early Market

Crossing the chasmWidening of vertical use cases Use-case

CrossoverAligned markets

Trough of disillusionment = Good

1. DAO & Split2. Stop corp. brain

drain3. Consulting

distraction4. Sense check5. Professionalisation6. Learn on others

money

8 x Building Blocks1. Bridges / Interoperability 2. Identity 3. Reputation4. Clear Roles & Responsibilities5. Usable Security6. Governance7. User Friendly Security8. Stable Tokens of Exchange9. Economically Viable Tokens of

Exchange

Most Excites Me1. True P2P

markets2. Accelerator:

Ability to securely scale macro trends

3. Combinator: allows macro trends to combine

1.AI2.IoT3.Drones4.VR / AR5.3D Printing

Deal Activity

$1.1bn Silicon Seed (50 VCs & 30 Angels)

Specialist Generalist

Driven by handfuls of deals

Q1 Blockchain VC Investment Overtakes Bitcoin

Enterprise Led Venturing

Santander

UBS

Barclays

Accenture

IBM

Citigroup & Visa

Cisco

Fundraising Overview

Coindesk tracking 138 VC-backed

totalBCA Tracker has

1,000 VC and non-VC backed

Biggest deals in Q2 Circle Series D @

$60m Quione @ $16m

Bit Flyer @ $27m

Elliptic @ $5.0mFluent @ 1.65m

Mediachain @ 1.5mTierion @ $1m

If you exclude theDAO

ICO – Initial Coin Offering• ICO the new ‘pre seed’• Unique to blockchain. Self funding mechanism• Still only 0.05% of global crowdfunding• Unclear regulatory position (SEC, tokens as securities)• Positioned as ‘future access to a network’• Small pool of ‘buyers’ (Razormind: $1.9m from 290 individuals)

Market Insights

Economic Sector blockchainangels.eu/startups

Domain blockchainangels.eu/startups

Geography blockchainangels.eu/startups

Questions?