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Blockchain Beach Meetup - Jan. 23, 2018
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January 23, 2018 - Blockchain Beach Transcript


 

Austin Davis:

So guys, Austin Davis here with Blockchain Beach. We got a big crowd here. ICOinvestor.tv is in the house talking to everybody about cryptocurrency, blockchain, their technology projects, and the bright decentralized future. Let's hear what they have to say.

Michael Terpin:

I was involved with the launch of Ethereum when it was just an idea from a 19 year old who had previously interviewed me as a freelance reporter. Then, I found out he had a white paper and he was working for another client of mine who had a wallet company.

Vitalik Buterin obviously had this idea that you could go and do smart contracts, which was a 20 year old idea that hadn't been implemented on a blockchain and he's built what is now a $100 billion infrastructure. I'm interested in the next Ethereum type tokens.

Jason Robert:

Well, I come from the music industry. About a year and a half ago, I began exploring development and wrote a little JavaScript playlist generator with Spotify's API. Began going to coding meetups around town. Met my now co-founder, Angelo Pozo, and he was all gung ho about Ethereum on blockchain. Did some research myself and found it to be a potential silver bullet technology to solve a lot of problems in the music industry. Given that I am a musician myself, I was very passionate about exploring this technology. After about a year or so, we've built out one of the world's first decentralized event ticketing platforms.

Taylor Monahan:

I'm most interested in making the user experience better, and that's not necessarily just strictly applications or our products, but really what does the average user need in order to successfully get into the space, understand what they're doing, safely store their crypto, send their crypto, and be able to take advantage of everything our crypto has to offer? As much as we love the price going up, it really brings in just a flood of new users who don't fundamentally understand what it is. So our personal big push for 2018 is going to be usability, user education, and really safety and security for individuals so that they can personally hold their crypto and not lose it.

Justin Wu:

I like seeing the sort of technologies coming in there and kind of decentralizing or imploding that industry and putting the power back into the hands of the creators, the builders, the people, really, and really helping flip all the models upside down.

M. Raleigh Harbour:

If you look at blockchain as a core technology, fundamentally it solves a problem of lack of trust in an ecosystem. It solves a problem of a middle man or a centralized entity driving monopolistic power. If you look across a number of sectors, whether that's healthcare or entertainment or IP rights, in all those places there's massive inefficiencies driven by those things. Lack of trust in a centralized entity extracting monopolistic rents.

Jason Robert:

So I'm mostly interested in blockchain technologies versus crypto. I think crypto's a nice application of the blockchain. As far as how the blockchain can help to reinvent the event ticketing industry, blockchains enable reductions in fees for consumers, they enable revenue maximization for the event organizers in the secondary market, and they mitigate fraud. Fraud is a huge problem in event ticketing, brokers and scalpers extracting rent in the secondary market. With the transparency and leadability of blockchain, we enable event organizers to participate in the secondary market, therefore mitigating the risk of what are expensive operations.

Austin Davis:

I got really interested in blockchain technology back in around 2012, 2013. Then, I started investing around, investing in some coins, moving them here and there, just to understand how it all works. Then we actually started building on the technology side in 2016. We started Blockchain Beach here in 2016 to get people involved.

M. Raleigh Harbour:

Probably the biggest way that I believe that the presale process is going to change is that fundamentally if you looked at last year, especially the middle of last year during the summer time, the vast majority of the capital was raised through the actually public ICO process, the actual TGE or public sale. Whereas, now the vast majority happens in the presale process. The market's gotten savvier. The market's gotten smarter. They're more discerning when they pick their spots when you're making those investments.

So if anybody's raising money through a token launcher ICO, they really have to be smart about the way they manage that presale process to make sure they build the momentum, which eventually carries them through to the actual public launch.

Justin Wu:

It's one thing to build a token, one thing to launch it and get people to believe it, and it's the next thing to then go back to the old guard, the old systems, and try to convince them to get onto this crazy thing called the blockchain and cryptocurrencies. We're going to see a lot of tokens. They might sound well. They might build the biggest team, however it all comes down to can they actually get it out to real life use cases? That has yet to be seen.

Austin Davis:

There's a lot of new regulation. The first early two waves came in and I think people are going to be more strict about it. Investors are going to be more savvy. They're not going to be investing $400 million in projects that don't have anything yet, so I think it's going to be product first companies that we're going to see dominate this year. People that have technology, people that have teams, people that have something to offer already, instead of just, "Here's my ICO. Give me a bunch of money. I'll do something later." So I think it's going to evolve from the whole Kickstarter model.

Justin Wu:

Within the past few weeks, we're seeing tokens coming in. 100% institutional. 100% whales, crypto VCs. Why? Because those big money is starting to come in slowly and they want the big multipliers and also, two, the ICOs then are not really wanting to deal with the crowd, because it costs a lot more money to buy all the ad spots. Then they have a lot more people to answer, whereas a working with the institutional or big funds, you have a lot more longer lockup period and then you get the capital right now, too. So we're seeing that shift that used to, within the past three months, a huge shift between those.We'll see where their things goes.

I think that we're going to see more security tokens, like the Kodak token's going to be the first one on the t0 platform. Then we're going to see more tokens that are still trying to solve protocol level upgrades as well.

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