Blockchain Life 2019 Asia
April 23 2019, Singapore, Singapore
Blockchain Life 2019 Asia
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Realizing the Potential of Blockchain Technology
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Good afternoon, everyone is actually afternoon, 00:05 thanks everyone be here be patient. 00:09 I hope you're not too hungry to hear my speech. 00:12 I will try to keep it short to introduce myself. 00:16 I'm Ella's on an now running finite slabs, 00:20 which is a venture on of by NYS one of the leading crypto currencies. 00:23 Crypto currency exchanges of the world. 00:29 So before joining by NYS I was engineer at Telecom Company and an operator at the Internet. 00:33

Giant 10 cent and Google and then join became a adventure couple of at the Kleiner Perkins for 5 years. 00:41 Before because of my career. 00:51 I witness the amazing power of Technology I'm always passionate about the impact of the technology to change and transfer peoples lives. 00:53 OK, as everyone knows blockchain tech knowledge is the backbone, 01:08 teknowledge behind Bitcoin and Crypto currencies. 01:13

So to realize the the block the potential of the blockchain technology, 01:20 even though there's some examples that where the blockchain technology. 01:26 The benefit of blockchain technology can be harnessed without employee implementing Crypto currencies. 01:32 I personally believe especially as a by nation. 01:41 I believe that to realize the potential of Crypto of. 01:45 Blocked in Teknowledge. 01:50

It's very unlikely to ignore the impact of the Crypto currencies bring to the The technology itself. 01:50 So because speculation is one of the human nature's and because of the human nature. 02:03 We brought in a lot of talents to the smart way brains to work in this industry. 02:10

That's how the blockchain technology can drive based on the impact of Crypto currency is so today in terms us to start to talk about the potential block block chain 02:16 Technology I will start you show you some interesting and very powerful trend. 02:29 Buy buy buy buy some data from actually Google finally the Yahoo fine eyes. 02:36 So this is the NASDAQ. 02:44

It started from 1995, where we called it the era of the the beginning of the Internet era where nest gate went to IPO into in a 1995 and then 02:46 it picked to 5000. 03:00 NASDAQ index pick 25000 in 2002 thousand as we all know there is a Internet bubble. 03:00 And after the bubble burst burst the the NASDAQ dropped back to 1000 inches. 03:11 On 2010 where 5,000,000,000 of their more more than 5,000,000,000,000 USD value you like lost in the global equity market. 03:19

Back then, Yahoo was there in search engine dominated on all the search engine market as the investor probably there's a lot of investors here if you realize that was 03:34 a bust. 03:47 You leave the market you lose your face. 03:47 Maybe you will miss you would have missed that then start up, 03:52 but picking a lot of Tractions. 03:58 Which is a Google went to IPO quickly in 2004 and since IP o'd Google has outperformed NASDAQ? 04:01 Adult. 1700 percent versus 300%. 04:11

So back then, NASDAQ use the 15 years to be back and then if you it's very to say Internet is not a bust. 04:19 It's built up the foundation of a lot of great companies like Amazon, 04:29 eBay by do Ali Baba is all changing people's life. 04:36 And this is just the where, 04:42 we are at now we're building up the infrastructure of blockchain technology. 04:44 The next week and see the big coin came out in 2009. 04:49 Where? 04:55 Since it's born in in the generators at night. 04:58

It outperformed the The the Google. 05:01 By night million percent versus 300%. 05:06 And this is so powerful charge to show the Google trend because become so flat. 05:11 And many media focus on criticize the Bitcoin price dropped from 20,000 to 2233 thousand in one year in 2018. 05:19 But if you look back. 05:30

There are 22 drops major drops at the big comprise in 2011 and 2002 thousand 14, 05:33 where the value of the big comprise eval like last if we're with a 90. 05:41 90% and then it picked it back. 05:49 This we have to realize this is just the cycle of the of Crypto currency of a new innovation that it development based on peoples believe, 05:51 and the real development and mass adoption. 06:02 Then lastly I really want to bring out the recent boom of BMV price. 06:06

So it's so in the last 2 months. 06:14 BMB was trying transacted at all times high against the BTC where we believe it's because the more the market start to recognize the utility of BNBS increasing utility of 06:17 VM bees and also the compute continuous effort an initiatives at by NYS contribute to the ecosystem. 06:33 I'll give you some more introduction of the initiatives later is visually labs at BI nice labs. 06:43

From this charge so BMP price started at the centralized exchange, 06:52 but nowfinance.com. 06:57 The centralized exchange is only one of the contributors of the utility of BN bees now, 06:57 you can see, there's so many options and so many utility use cases around. 07:06 BN bees and especially today. 07:12 We exactly today. 07:14 We are launching our binary chain, 07:14 which is the community driven open source project. 07:18

A chain to contributed by the developers all from all over the road on top of the finest chain. 07:22 We're migrating VMB 2 from Etherium to buy night chain and the first application is the decks, 07:31 decentralized exchange, which we believe. 07:39 Supported by the fundamental technology openness chain will handle the same volume same level volume of Watt. 07:43

Bynights.com can handle today because the chain itself because of the one the very instant confirmation time. 07:53 The one second block block time versus you theorems 22nd and big, 08:04 big coins 10 minutes confirmation time. 08:10 It will be extremely fast and it's only focus on transaction. 08:14 It not support is not going to support the fancy smart contract. 08:19

Those features so this changes self will focus on the features of the coins of the Crypto currencies to deliver the the feature of user payment transactions and fund raising. 08:24 So because it focuses become extremely easier to use and invest. 08:39 And today not not today, 08:46 but in the few days. 08:48 We are also launching our Singapore via exchange officially. 08:50

So other than the utility increasing utility of BMB by BMV prices also supported by the our ecosystem. 08:58 From this chart. 09:07 We can see this is our current initiatives bynights.com which is the exchange. 09:07 An Academy Research Launchpad Charity Foundation Trust Wallet Labs and X so to be worth it to be mentioned our charity foundation now is leveraging the. 09:15

Blockchain technology to bait to make all the donation to be transparent, 09:29 which is very, very significant impact in a charity in a charity space. 09:34 And since I'm running by night slabs. 09:39 I'll give you more the more color of what we're doing at Binas Labs. 09:42 So minus Labs is officially established in April last year exactly only one year here, 09:50 so our so it started. 09:57

This initiative because of the belief of the founder vision and believe the founder that by noises future success will based on the thrive of the whole industry so things 09:59 inception, the mission of by nights. 10:13 Labs is to realize the full potential blockchain to find out. 10:16 More mass adoptions to enlarge the ecosystem. 10:21 So we do 3 things at Barnard slabs, 10:25 we do. 10:28 Incubation Fellowship and direct investment. 10:28

We started to do direct investments from last April to August and for after few months. 10:33 That is a market with the market hype. 10:39 We did bunch of those but we realize that there are 2 critical problems. 10:42 In this industry won the market hype did distract the founders an entrepreneurs from focus on building things. 10:48

There's so easy to raise funding and at the same time, 10:58 the investors capital is very hard to realize the return to justify the investment. 11:02 This is the first problem second problem. 11:10 We see a lot of fancy technologies, 11:13 but those technologies. 11:16 Do lack of the product market fit and the real use cases so we are initiated this incubation program. 11:16 It's a 10 weeks. 11:27

On side program to in order to provide the founders initial funding and to help them focus on building in find out we emphasize a lot 11:27 of find out the real. 11:39 But product market debt and you use cases and then we're bringing the create critical resources to help them grow? 11:42 All the finest ecosystem are the potential resources that we can bring into those incubation project. 11:51

And then we still find something missing in our ecosystem because we see a lot of. 11:59 Critical problems to the block the The technology stack layers by solving those roadblocks of the technology itself for example, 12:06 scalability. 12:17 There's still some project it's very hard to find out the ink like instant business model. 12:17 So it's very hard to justify already investment that's why we initiated. 12:25

The Fellowship program, which is a pure grant program to support the open source developers focus on building. 12:31 We give out the small stipend to the very top open source developers to support them focus on building and solving those critical. 12:39 Problems, which are there Roblox to to block the mass adoption? 12:49 This is this are the 3 things we're doing at finite at Venice Labs. 12:54

So this is our incubation program, 13:00 we launched last quarter, the in the Court of 4 quarter last year, 13:03 an now we're running a second in second season incubation. 13:09 We started from San Francisco and and from the second season we expand to 3 locations. 13:14 Berlin in Europe and logos in Africa for berling. 13:22 We found out it's a most active and the most like native. 13:26

Open source developer community, which is very helpful to solve the critical technical problems and and for Lagos. 13:31 Our belief is that the most disruptive and Crypto native mass adoption and disruptions will probably not happen in the developed economies instead will coming from those developing economies. 13:39 That's why we started our incubation in different sites. 13:53 And this is the graph of our poor value. 13:58 Now we have more than 35. 14:02

We have about 35 per values. 14:04 Unfortunately, one of our output value basis just stopped. 14:07 We diploid about 50,000,000 USD to support the ecosystem to grow birthday to be mentioned this year still hour. 14:13 Incubation season 2. 14:24 We added 4 powerful use from Africa, 14:24 one from Ghana 13 from Nigeria. 14:30 So our investment thesis in in Africa is that we believe the. 14:33

Because of lack of the very sound and user friendly alternatives of the financial services and also lack of the trust to the authorities. 14:40 The individuals and small business actually have a lot of opportunities to build up the. 14:51 This disruptive and Crypto native applications to provide faster a secure more secure and easier for financial services and transactions. 14:59 But the first step is to provide the access ability of the for Africans to Crypto. 15:12

Now nowadays most of the transactions still happen in cash on the continent. 15:20 And most of the digital transactions still happen on the mobile money. 15:26 Beyond the USS D technology in Africa. 15:32 So the first step of our investment thesis is to help the African based project to build up the on ramp for Africans to access the Crypto economy. 15:36 Last year we launched our. 15:47 Uh first. 15:51 First, the field exchange in Africa and this year. 15:51

We target to lunch time of your exchanges in 10 countries. 15:56 If you you if you think you're the right partners. 16:00 Please come to talk to us. 16:04 We are very actively building up the on ramp channel for Crypto. 16:05 So I also want to give some examples because today, 16:13 we are talking about the blocked in life. 16:17 So there's the I'll give some examples. 16:20 They run the how to breaching the Crypto to our real life. 16:23

BDT most of you probably know BitTorrent is communicational proper protocol to enable the fire file sharing on the people P 2 P basis. 16:28 It's a protocol existing for more than 15 years. 16:39 And supported. 16:43 More than 100000000 mau and 25000000 da use. 16:43 It's very popular, especially in the North America market. 16:49 So BTT is is the token really stung. 16:56 Treng watching it'SATRC 20 token to provide the incentives to users for provide the seating so from this. 16:59

The use case you can see seating is a process to make the file available for downloaders. 17:10 But once the downloaders get the entire file. 17:19 They will have zero incentives to continue sitting so BDD token was designed to solve this problem, 17:23 by continuously keeping seating for the downloaders. 17:32 You can get the BTT token as the. 17:37 As a reward at the bonus. 17:40

So this actually will enlarge the pic the scalability as an speeding of the of the whole network bit bit torrent network and the product called bit torrent speed will 17:45 be fully launched within this quarter, 17:57 this year. 18:00 We're very excited to see the the impact of the product launch. 18:00 And. 18:06 Be beside In addition to providing the economic incentives to be torrent network. 18:06 PDT have some other use cases in the future. 18:14

For example, it can be used as the content distribution for it will enable the content creators to distribute the the creations of them self directly to the users. 18:18 Also other proposed the use cases like decentralized content delivery decentralized the storage and tips through rewarding or. 18:33 The current the payment currency is the medium of exchange all in the future of food future features in the PTT. 18:44

So this is a second use case, 18:58 Tera Tera is Papa is one of our portfolio company, 19:01 based in Korea. 19:06 It's a next generation. 19:06 Blockchain, based payment network, which adopted the the price stable cryptocurrency to complement the current shortage of the Fiat and other cryptocurrencies. 19:10 It's very ambitious and very know. 19:25 Innovative is see it has similar thesis an basis, 19:28 which Unfortunately shut down because of the regulator. 19:33

We can concern a few months ago but why we supported Terra. 19:38 It's because. 19:44 Of the it is potential to bring them out to breach. 19:44 The mass adoption, so they are based on the baby to deliver the Terra the stable coin they build up alliance of. 19:50 E Commerce website, you're in the Asian Southeast Asia area. 20:00 There's there's some a case like carousel is actually serving Singapore, 20:07 so their E Commerce Alliance. 20:14 Throughout the 10 countries. 20:16

An have accumulated GMV of 25,000,000,000 and serve 45000000 users. 20:16 It's a very powerful network. 20:25 I will show you how Terra is going to providing their payment. 20:29 So Terra use so. 20:36 For example, 20:36 if you're buying something from taking monster for example, 20:40 a pillow how will you active? 20:46 How are you use a payment? 20:48 Is active actually? 20:51 Play the video. 20:53 Works works. 20:55 Back or forward. 20:59 What do we need to play the video? 21:04 Uh we need to play the video. 21:07

We need to play the video and will it play that's the question. 21:10 OK. 21:16 Can I play the video explain why the words? 21:16 Can all cannot play the video OK? 21:23 Sorry it's just a very simple 3 steps that you have to choose the terror pay, 21:26 which is a stable coin and it's exactly same. 21:32 Simplice process you. 21:36 You're buying things are on the ecommerce. 21:36 If you can see the demo, 21:41 you can actually see how simple as it is. 21:43 But. 21:48 Terror just the one year project. 21:48

They deliver is actually their one year anniversary today and they are launching the mainnet to celebrate their birthday. 21:52 Congratulations to Terra if there's any Terrell folks here, 22:01 but I believe they are very busy. 22:05 But the immediate benefit to consumers is that because they they disrupted the middle. 22:09 Middle men of the payment. 22:16 The consumers can actually get the 5 to 10% 22:19 discount from adopting terror. 22:23

And the third use cases is Contento's content owes is biggest decentralized the global ecosystem for digital content. 22:27 So they this is the project incubated by Cheetah Mobile, 22:37 which is a China based company listed in NASDAQ by so they they are building a lot of software gathering billions of downloaders and this content can contain those will 22:42 be based on. 22:56 Make many 3 applications like me photo grid and chooses which accumulate Lee. 22:56

They have 3 be more than 3,000,000,000 in stores and the user spread out in 200 countries. 23:03 And also there's a video want to show you but couldn't this is the introduction of how content to scan the the filter grids. 23:10 Users can adopt contain those testnet. 23:20 They've already launched the testnet so it show you that by adopting. 23:23 Content owes the content creators can enjoy the fairly distribution and monetization in their entire network. 23:29

I'm very sorry that cannot show you. 23:41 Um. 23:44 So at finite slabs or mission vision mission or mission is to realize the full potential of blockchain technology and our our vision is to be the best blockchain 23:44 technology incubator. 23:58 I want to share lastly. 23:58 I want to share you with you. 24:02 Some of my personal experiences this transfer from a traditional VC investor to the Crypto to the Crypto World so. 24:05

Previously, at Kleiner Perkins I look at the consumer consumer product all the attractions. 24:15 I see is millions. 24:22 Tens of millions and hundreds of millions. 24:22 It's very excited every day and very rewarding. 24:27 Now the past, one year in the Crypto when you look at the D apps. 24:31 You really have like like very frustrated to see the user adoptions tens. 24:36 Hundreds and mostly thousands, but you have to. 24:42

Really because we are at the cutting edge of a new technology you have to be really, 24:46 really patient. 24:52 And believe that this is the right chained to gonna change peoples life in the future is Justin just. 24:52 Like at the stage we are Incubating, 25:02 a baby. 25:04 You don't expect it to grow 2 faster to be overweighted and you also don't expect it to come out to be born come out to Ernie. 25:04

So it just have the right timing, 25:15 we have to be patient step by step to make the trans disruption happen. 25:18 All of us here. 25:23 We are the early early adopters of Crypto and blockchain technology. 25:23 I appreciate all of you just focus on building and be patient in huddle, 25:30 and to support our ecosystem to grow. 25:37 Thank you all. 25:40

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