Rindi Lecture Blockchain Trends & Use Cases
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Caterina Rindi lecture and QA at the University of Tokyo and International University of Japan (GLOCOM), on Blockchain Trends and Use Cases in the US and Silicon Valley. March 2017
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Rindi Lecture Blockchain Trends & Use Cases
- 1. Blockchain Trends and Use Case Examples Caterina Rindi @CaterinaRindi March 2017
- 2. About Me Education P2P & Sharing Economy Bitcoin & Swarm RindiConsulting.com Elefant.ai @CaterinaRindi March 2017
- 3. Ecosystem in US & Silicon Valley Businesses/Services Use Case Examples @CaterinaRindi March 2017 Blockchain Trends and Use Case Examples
- 4. US & Silicon Valley Investment (2016) • ~$496M VC 1. Digital Currency Group (NY) 2. Blockchain Capital (SF) 3. Draper Associates (SV) @CaterinaRindi March 2017 Sources: CoinDesk Research; CB Insights
- 5. US & Silicon Valley Top Funded Startups • Circle (Boston) • Coinbase (SF) • Blockstream (SF) • Ripple (SF) • 21 Inc (SV) @CaterinaRindi March 2017 Sources: CB Insights
- 6. Circle.com
- 7. Coinbase.com
- 9. Ripple.com
- 10. Ripple.com
- 11. 21.com
- 12. 21.com
- 13. Japan Investment (2016) • bitFlyer - $27M Series C • Quoine - $20M Series A @CaterinaRindi March 2017 Sources: CoinDesk Research; CB Insights
- 14. bitFlyer.com
- 15. Quoine.com
- 16. Zaif.jp
- 17. imagine-orb.com
- 18. Silicon Valley & SF Bay Area Other local startups & businesses • BitWage • Linux Foundation (Hyperledger) • Chain • Chronicled • Xapo • Veem @CaterinaRindi March 2017
- 19. BitWage.com
- 20. BitWage.com
- 21. Hyperledger.org
- 22. Hyperledger.org
- 23. Chain.com
- 24. Chronicled.com
- 25. Xapo.com
- 26. Veem.com
- 27. @CaterinaRindi March 2017 Startups and Businesses/Services Blockchain Specific Properties: • distributed – decentralized • consensus • transparency • immutability • cryptographically secure
- 31. @CaterinaRindi March 2017 Startups and Businesses/Services • Fintech • Healthcare • Energy • Identity Management • Internet of Things • Governance • Content Creators (Music, Art, Digital Work)
- 32. PokitDok.com
- 34. e-Estonia.com
- 35. BitNation.co
- 36. Ascribe.io
Editor's Notes
- Thank you for the invitation to speak to you all today. I’m honored to join you at University of Tokyo and support the efforts around Blockchain education here in Japan.
- My background is in education – I taught elementary school and wrote curriculum for about 10 years. I also worked in the non-profit world, running programs and projects which evolved into my interest in the peer-to-peer and sharing economy. I got involved in San Francisco with early projects like TaskRabbit, Airbnb, Uber, Lyft, RelayRides (now called Turo), and then I spent 2014 traveling in Europe studying similar activities there. In 2013 I had started attending Bitcoin Meetups and in 2014 I connected with Swarm, a startup doing crowdfunding via tokens on the bitcoin blockchain. After our launch, I became the Community Manager. We raised/crowdfunded $1M in bitcoin in 2014, and then the price tanked and decreased to a bout $250k - we lasted about a year and a half on that. Since then, I have been introducing audiences to bitcoin and blockchains, specifically non-technical audiences. I travel quite a bit speaking and consulting. I also focus on corporate sustainability and impact and have recently started working with Elefant, which is using AI and machine learning for market pricing.
- I’ll talk briefly about general blockchain innovation trends in Silicon Valley and the US, and then I’ll review a few of the interesting areas where blockchain is being adopted and explored. This is by no means exhaustive, and only represents some of my experience in the SF Bay Area, and in the US.
- Venture Capital Investment in 2016 was $496M worldwide, with the top 3 firms based in New York and SF & Silicon Valley. The US accounts for 54% of global bitcoin and blockchain startup deal share. Asia deal activity rose to an all-time annual high in 2016, in contrast with North America and Europe, which each saw drops. Japan-based companies closed on two large financings in 2016: cryptocurrency exchange bitFlyer ($27M Series C), and bitcoin trading platform Quoine ($20M Series A). Sources: http://www.coindesk.com/research/state-of-blockchain-q4-2016/ https://www.cbinsights.com/blog/bitcoin-blockchain-top-startup-investors/ http://www.coindesk.com/bitcoin-security-in-2016-a-tale-of-two-weaknesses/
- Of the $496M VC investments, these companies were the top, and I’ll review basically what each of them are doing. Sources: https://www.cbinsights.com/blog/bitcoin-blockchain-top-startup-investors/
- Circle used to be a bitcoin wallet but now has pivoted to offer global payments using open internet standards and protocols, including the blockchain.
- Coinbase is a bitcoin and ethereum wallet and exchange. It has 6.3M users.
- Blockstream makes software and hardware using the blockchain platform. They are focusing on cross-chain compatibility using side-chains, and have a core software platform called Elements, which is used by PwC and other partners.
- Ripple works directly with banks to enable cross-border payments and services.
- These are some of the banks that Ripple is already working with, on corporate disbursements and retail remittances.
- 21 Inc makes a Bitcoin Computer or Bitcoin Chip specifically designed to mine in the background as the computer runs services, like a notary or a translator.
- 21 Inc web page is currently promoting paid email messaging, so you can set up a 21 profile where people pay to contact you and ask questions. They then donate the money to charities.
- Japan-based companies closed on two large financings in 2016: cryptocurrency exchange bitFlyer ($27M Series C), and bitcoin trading platform Quoine ($20M Series A). Sources: https://www.cbinsights.com/blog/bitcoin-blockchain-top-startup-investors/
- bitFlyer is Japanese cryptocurrency exchange.
- Quoine is a bitcoin trading platform covering all major global and Asian currencies.
- I’ll mention 2 more Japanese blockchain businesses – Zaif is a cryptocurrency exchange.
- Orb is a marketplace using virtual currency.
- Here are a few other blockchain-related start-ups and businesses in Silicon Valley and the SF Bay Area. BitWage – global salaries/wages; Linux & Hyperledger – Open source, blockchain frameworks; Chain – blockchain infrastructures (formerly Align); Chronicled – tracking items/provenance; Xapo - wallets; Veem – global payments.
- BitWage offers international payments and invoices, targeting remote workers and international contractors. They also offer a Xapo credit card and Uphold savings account.
- Some of their clients include Google, Facebook, Uber, Airbnb, the United Nations, and the World Health Organization.
- Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. It is a global collaboration, hosted by The Linux Foundation, including leaders in finance, banking, IoT, supply chain, manufacturing and technology.
- Active Hyperledger frameworks include Fabric, Iroha, and Sawtooth Lake, so they are offering distributed ledger technologies as well as blockchain tech plug & play tools. Interesting to note about Sawtooth Lake is that they are using a Proof of Elapsed Time consensus algorithm, to reduce the energy consumption of Proof of Work. Also, all of these are open source and available on GitHub.
- Chain builds blockchain infrastructure, specifically permissioned networks, moving assets like currencies, securities, derivatives, gift cards, and loyalty points. Some of their customers are Visa, Nasdaq, Fiserv, Citigroup, Capital One, Orange, and State Street.
- Chronicled tracks physical items on the blockchain. Dr. Mulligan mentioned Chronicled in her talk on Monday, and how they are tracking high value items like fine wine, also luxury sneakers. One of their use cases is a drone that is registered on the blockchain and given permission to enter certain residences for deliveries.
- Xapo offers a bitcoin wallet, cold storage, and a VISA debit card that is linked to your wallet and let’s you withdraw local currency.
- Veem is also offering global payments in over 60 countries, much like BitWage and Circle.
- What we’ve seen is a predominace of blockchain focus on finance and infrastructure platforms. Generally this is where the investment and most developed work is so far. I posit that this is due to these specific blockchain properties, which therefore offer greater security, efficiency, and auditability. Sources: https://www.cbinsights.com/blog/bitcoin-blockchain-startup-market-map/
- This is a market map put out by CBInsights with their groupings of services, specifically focused on startups.
- This is a graphic from Growth Praxis, with company names listed. Note that this is from 2015.
- One more graphic with company names listed. Note that this is also from 2015.
- But there are other applications and I’ll give you a few other use-case examples. Sources: https://www.cbinsights.com/blog/bitcoin-blockchain-startup-market-map/
- PokitDok has built DokChain, which it is using to provide a secure network connecting every facet of a patient's care, from Electronic Medical Recordss and wearables, to insurance information and remote patient monitors. DokChain records all valid transactions across a secure, distributed network, stores the location of relevant data, and verifies access to that data so that all the transactions necessary for an episode of care can be securely tracked, verified, and shared. It is a technically secure way to connect patient identity and health records to the government's identity system.
- Share & Charge uses the Ethereum blockchain for sharing of charging stations and parking spots, and eventually the vehicles themselves.
- Estonia has an advanced electronic ID card that is tied in to their health care system, transit, voting, medical records, and bank accounts. They have developed a platform called X-Road that links all these databases, is decentralized, cryptographically secure, and scalable to add new services.
- BitNation offers a simple time-stamped, notarized ID specifically targeting refugees and immigrants.
- Ascribe lets digital content creators confirm & verify ownership, share their work and track it.
- Mycelia & Ujo used the Ethereum blockchain to post music, all contributors, allow downloads, payments, etc.