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8 Takeaways from the Emerge ICO Summit

TEN Capital recently held its annual tech event in Austin called the Emerge ICO Summit. This year the theme of the conference focused on blockchain applications and how to raise funding for your blockchain startup. To view the agenda, speakers and topics, you can visit the Emerge ICO Summit page. This was a wonderful event and here are our eight takeaways. #1- Blockchain is the next big thing– the move to Blockchain applications is inevitable but the timing is unpredictable. A decentralized internet is a foundational solution to many problems with the current network. A year ago blockchain was the domain of lead users, early adopters, and technologists. While the technology is still nascent, today the interest and participants have broadened greatly with new entrants from established companies, institutions and governments.  The interest is broad-based covering all major industries including supply chain, fin-tech, real estate, and healthcare and others. Since blockchain is coming, the only question is the rate of adoption. Infrastructure continues to build out but it takes time to develop. The first blockchain solutions are coming onto the market and are now on-boarding users. Very few blockchain applications have paying users. The Dot com era spent five or more years building out the basic platforms before any real productivity value could be seen. Blockchain appears to be following a similar time timeline. #2-  It’s STILL early days for Blockchain Applications Most of the applications of blockchain are still at the infrastructure layer and will take years to build out. There are many independent cryptocurrencies, technology solutions, and platforms. Digital assets are hard to evaluate and can be easily manipulated by the market. There’s a disconnect between the fundamental regulatory requirements between the cryptocurrency world and the bigger financial ecosystems. There’s no common model to value digital assets. There are no 3rd parties to analyze, rate and value assets. Jouko Ahvenainen of Grow VC highlighted the challenge of the early days for blockchain companies in his talk- The Status and Future of Tokenization, Blockchain and Finance Disruption. Jouko also gives further details in an Investor Connect podcast interview.  #3- Blockchain systems are expensive to build so they should be applied to projects that are trust expensive. Blockchain is a highly inefficient database and expensive to build. It must be applied to applications that require high trust value. Supply chain, financial and government applications are three key areas for early adoption. Centralized functions such as domain registry and governmental services will be disrupted first. See more from the conference at 21:00 in this video: Defining Properties of The Consensus based Business Environment Other areas of early focus include Identity and Privacy. Identity is a key enabler of many applications such as fin-tech, travel, and security applications. You can hear more about the travel industry by Pedro Anderson at 15:00 minutes into the Blockchain applications panel. Privacy continues to grow as a concern for users and is moving to the top of the list of benefits of blockchain. Anupam Govil describes this at 18:00 in the Blockchain applications panel video. #4- Blockchain is a business model change as well as a technological change. Blockchain is not only a technology change but also a new business model. The use of tokens and decentralized computing will open up new methods of business. Tokens enable many new forms of ownership and incentive that goes beyond what fiat currency can accomplish. One example is the BMX token from BitMED which lets users transact using their own healthcare data. Rishi Madhok, CEO of BitMED describes the use case in this video. #5- Everything that can be digitized will be digitized. Blockchain is the next logical step in the evolution of the internet. Everything that can be digitized will be digitized as to monitor, maintain, and own an asset will require that it be represented in digital form. This means all real estate, property, financial assets, and more will need to be digitized so it can be tracked by digital systems. #6- A minimal viable product is replaced by a minimum viable network. The concept of an MVP (Minimum Viable Product) is being replaced with the concept of a MVN (Minimum Viable Network).  Blockchain applications require digital eco-systems to be effective. To launch a blockchain system requires wallets, exchanges, payment tools in addition to the core functionality of the system. To make it useful for the user there must be a minimum set of tools. Justin Newton of Netki talked about this at 41:58 in the Blockchain applications panel video. #7- Some application areas attributed to disruption by blockchain are simply digitizing their systems. Not every technical solution will be implemented with blockchain technology. Some application areas draw value from technology by simply moving their system into a digital format.  Supply chain is one example. It’s more about digitizing the system rather than applying pure blockchain technology. In the travel industry, the benefit of technology is in having a common platform that the industry can share information about flights, hotel, and transportation. There are some specific applications in these areas in which blockchain provides additional value but for the value add comes primarily from having everything online in one digital network. #8- Regulatory financial institutions need more compliance installed in the Blockchain space before they can engage the technology fully. The SEC deems tokens to be securities since they are speculative in nature. Blockchain users want to mint and use tokens for their utility without the regulatory restrictions that come with securities. The solution to solving the utility token/security dilemma is to regulate the exchanges on which they are traded. None of the crypto exchanges are regulated yet. They show the window dressing of a regulated exchange with bid/ask spreads and limit offers but they are not truly regulated the same way that NASDAQ or other traditional exchanges are. Once the exchanges come under regulatory purview, the space will take off. Robert Crea talks about this at 20:37 in his Regulatory Environment for ICOs and Cryptocurrencies session. Regulated financial institutions cannot adopt blockchain technology for custody, securities

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The GDPR: “They’re here”

Just as the little girl in Poltergeist stared into the TV screen of white noise and proclaimed, “they’re here,” so now comes the long-awaited regulation from Europe on data protection. As a user, it’s great to have control back of your data. If you’re a provider of a software platform that involves user data, it can be scary. The General Data Protection Regulation (GDPR) is a European Union framework for giving citizens control over their data while implementing strict rules for anyone processing or hosting that data. It went into effect on May 25, 2018. Even if you’re a US company with business primarily in the US, it most likely will impact your business as European citizens live and work in the US. With the recent hearings in Congress focused on Facebook and its leak of users’ data, the GDPR becomes increasingly relevant to the discussion on how one can take back control of their data. It won’t be long before the US passes laws similar to Europe’s GDPR. GDPR requires companies Make sure contracts include a clear definition of data breaches and obligations to maintain GDPR requirements Know the location of all personal data, including credit card, bank information, healthcare, and more. Define in contracts with 3rd party vendors that use such data by defining the nature and scope of their access to the data. The fines for failure to comply are extreme. The EU has grown tired of chasing sizeable American tech firms only to find they have little money in their European bank accounts. Now, failure to comply can exact a price of 4% of the company’s GLOBAL revenue. Everlaw provides open-source advice and tools for GDPR compliance which you can see more here: Open-Sourcing our GDPR Compliance Preparation For Articles 30, 32, and 35 Also, here’s a free tool from Everlaw, for assessing your data processing activities as defined in the regulations of GDPR: Everlaw GDPR Documentation Template This tool combines documentation for GDPR Article 30: Records of processing activities, Article 32: Security of processing, and Article 35: Data protection impact assessment into one workbook (including a place to document Article 15: Right of access by the data subject).  Hall T. Martin is the founder of TEN Capital and a builder of entrepreneur ecosystems by startup funding through angel networks, funding portals, syndicates, and more.  Connect with him about fundraising, business growth, and emerging technologies.

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5 More Blogs for Cryptocurrency Investors

If we are learning anything about the crypto world, it’s that it is continually evolving and growing, and that we always have more to learn. Previously, we shared the Top 5 Blogs for Cryptocurrency Investors, but with so much information available we’ve decided to give you five more to keep you in the know. CryptoTicker: Crypto Ticker is a news outlet covering everything from cryptography, futurism, and artificial intelligence, to blockchain and other distributed ledger technologies. They are a collective of free-thinking experts from all corners of the world, sharing their knowledge with the community. They bring you news, expert opinions, interviews, documentaries, and announcements to get the best of the digital era. Bitcoin.com: Bitcoin.com hails itself as the premier place for all things Bitcoin. You can buy, use, and store your Bitcoin securely, as well as interact with a community of like-minded individuals. They also provide the latest and greatest news as well as tools and up-to-date pricing. Bitcoinist: Bitcoinist offers a wealth of information on everything from blockchain technology, Bitcoin, and digital currency, to news specifically geared to the wants and needs of their audience. They give data on the latest in consumer and financial technology and their reporters seek out breaking news about hardware, software, and business applications of new technologies.   Crypto Insider: Crypto Insider has a host of skilled and knowledgeable writers from around the world. While they don’t post daily news alerts on the world of cryptocurrency, they do take a less-is-more approach and select topics to thoroughly analyze and report thoughtfully.  Their mission is to maintain high journalistic standards. CryptoNinjas: This site provides market research and global news related to cryptocurrency. They are a go-to source for industry members as well as investors. They write about sector news and business developments, along with reports and analysis on the crypto market and token economy. Liza Dickinson is a freelance virtual assistant, writer, and master of keeping people organized. She coordinates TEN Funding events and manages TEN social media outreach. 

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Blockchain and ICOs on the Crossing the Chasm Curve

Crossing the Chasm teaches us that the initial users of a new product (called innovators and early adopters) are separated by a gap from the majority of users and what works for the users on the left side of the gap will not work for users on the right hand side of the gap. Clearly blockchain and ICOs are in the innovator and early adopter phase. With the rate of progress and the amount of funding going into the space, it won’t be long before it will “cross the chasm” into the early majority. One of the signals an industry has ‘crossed the chasm’ is the rise of “easy to use” tools and the shrinkage of techno-speak.  In the early days of an industry, technologists fill the blog posts and conferences and have a tendency to talk in technical terms and jargon.  Some of the jargon goes mainstream and stays with the industry while other terms are replaced with more common language. In the early stages, technical considerations take precedence.  In the mature stage business considerations take precedence. In ICOs, the discussion on hard forks, segwits, and data mining algorithms dominate the podcasts and media.  As we cross the chasm, the conversation will shift to tokenomics and the business implications of a blockchain based network. As companies start tying their systems together into a more cohesive digital mesh network with automated data connections, the impact on company strategy and growth methods will rise to the top. ICOs are still in the early phase but as real world applications in social media, supply chain, fin-tech, and other areas come online, the shift to digital ecosystems will move into the mainstream.  The adoption of blockchain to real world applications will lead the charge. We’ll see many new experiments with tokens and how they can be used to foster a digital ecosystem.   Hall T. Martin is the founder of TEN Capital and a builder of entrepreneur ecosystems by startup funding through angel networks, funding portals, syndicates, and more.  Connect with him about fundraising, business growth, and emerging technologies.

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Top 5 YouTube Channels for Cryptocurrency Investors

Though Bitcoin was first launched in 2009, cryptocurrency remains a hot topic on the rise. As of November 2017, there are approximately 1,324 types of cryptocurrency available online. If you are new to the ICO world or already an investor, there is a lot to learn and keep up with. We’ve come up with a list of the top 5 cryptocurrency YouTube accounts to help navigate the world of cryptocurrencies and everything that comes with them.     Crypt0: This YouTube channel has over 63,436 subscribers and regularly posts videos covering all things cryptocurrency. Crypt0 calls itself the home of cryptocurrency news and is run by a stock investor as well as an Ethereum Miner and Bitcoin enthusiast. DataDash: DataDash has 108,920 subscribers and boasts of being a “one-stop shop” highlighting cryptocurrency and global trends. Their videos include everything from late-night live streams to weekly updates on cryptocurrency. Boxmining: This channel has 90,016 subscribers and discusses trends in the market. They share daily updates in short, easy to understand terms. Savage Cash: Self-proclaimed Superhero Cryptocurrency Expert runs this channel with 60,950 subscribers. This channel shares informational videos that help people learn cryptocurrency as well as how to trade, invest and analyze the market in a fun and easy way. CryptoTips: CryptoTips has over 23,000 subscribers and shares videos about upcoming ICO’s, new coins, and hacks and scams to look out for. They also share insights on how the economy affects digital currency. Interest in cryptocurrency is growing quickly and with so much information out there, we hope this helps give some insights on trends and news in the industry.   Liza Dickinson is a freelance virtual assistant, writer, and master of keeping people organized. She coordinates TEN Funding events and manages TEN social media outreach.        If you are interested in tracking a startup, you can sign up for TEN Capital’s Monitoring service which tracks key startups and provides information about their revenue, earnings, and other key financial information.  The first 3 companies are free for 6 months. Signing up as an investor with TEN is easy and free. Visit our Investor Page and sign up now! If you have any questions, please contact us at info@tencapital.group.

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Top 5 YouTube Channels for Family Offices

Since the first family office was pioneered in the late 19th century, technology has grown leaps and bounds, and information is at the touch of our fingertips. Though there are many social networks and information sharing sites available, YouTube is at the top with 5 billion views daily—and it’s safe to say YouTube has something for everyone. We’ve gathered a list of the top 5 YouTube channels for family offices that share insights and trends in the industry. The Family Office Club: The Family Office Club has over 100,000 people in their global network. Their channel provides workshops, educational training and more. If their YouTube channel doesn’t meet all your needs, they’ve also released a book: The Family Office Book: Investing Capital for the Ultra-Affluent. GC Privé: GC Privé is a London-based private family office. They provide services to high-wealth individuals and families. Their channel has over 27,562 subscribers and provides information on luxuries including lifestyle, property and art. Monument Wealth Management: Washington, D.C.-based Monument Wealth Management is an independent Registered Investment Advisory firm. They specialize in helping executives, entrepreneurs, and high-net-worth individuals and their families with the lifecycle of their wealth management. OpalesqueTV: OpalesqueTV offers a “leaders and legends” series of videos, and releases one video per week on diverse topics. They have a video series for family offices, and feature prominent hedge fund managers, hedge fund investors and academics.   Pictet Wealth Management: Pictet Wealth Management is a leading European wealth and asset manager. Their channel shares their views on trends in the financial market. They also share a recurring video series featuring perspectives from economists and entrepreneurs.   Liza Dickinson is a freelance virtual assistant, writer, and master of keeping people organized. She coordinates TEN Funding events and manages TEN social media outreach.        If you are interested in tracking a startup, you can sign up for TEN Capital’s Monitoring service which tracks key startups and provides information about their revenue, earnings, and other key financial information.  The first 3 companies are free for 6 months. Signing up as an investor with TEN is easy and free. Visit our Investor Page and sign up now! If you have any questions, please contact us at info@tencapital.group.

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Top 5 Twitter Accounts for Cryptocurrency Investors

Though cryptocurrency entered the scene back in 2009 with the launch of Bitcoin, cryptocurrencies and ICO’s are still an unknown subject to many.  To get you up to speed, we previously published a list of the top cryptocurrency blogs.  But in case that didn’t satisfy your cravings for information on Bitcoin and its successors and derivatives, check out these top 5 Twitter accounts that focus on cryptocurrency: Cointelegraph- @Cointelegraph is an independent publication that covers all the latest news on everything in relation to cryptocurrency, blockchain as well as the next gen web. Their feed will help you understand and form your own opinions of cryptocurrency with precise coverage. Nicolas Cary:  @niccary is cofounder of Blockchain, the world’s leading Bitcoin software company.  Nic is also cofounder of Blockchain.info, a wallet for bitcoin cryptocurrency.  His Twitter feed is a mix valuable bitcoin information and personal viewpoints. Bitcoin Magazine: @BitcoinMagazine is a news and print publisher that specializes in digital currency. Their Twitter feed shares up-to-date information about all things digital currency. This feed will keep you ahead of the game on all the latest and greatest. Peter Todd: @petertoddbtc is a Bitcoin developer and is known for his work and research on how to better understand the use of blockchain technology.  Peter’s feed includes information on the future of blockchain technology as well as personal insights. Charlie Lee: @SatoshiLite is a self-described cryptocurrency enthusiast and former Google employee. He is the founder of Litecoin, an open-source, peer-to-peer cryptocurrency inspired by Bitcoin.  His Twitter feed shares info about Litecoin and other open-source cryptocurrencies. If you’re a novice or already up to date on this growing trend, this list is a great start to get valuable information on the go!  

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Learn how to mitigate fraud at the Texas Venture Forum

Fraud is an increasing challenge for small business owners. One type of fraud occurs when a new customer or client signs up for your online service, and then later turns out not to be who they said they were. This type of fraud costs small businesses every year. As business transactions have moved online, we are now finding that FinTech tools can introduce increased liability for small business owners. In the Texas Venture Forum, we’ll hold a panel on this topic and hear from one small business owner who was hit with fraud.   In this panel, we’ll propose an identity management solution: the Data Co-op.  What if a small business owner could verify a potential customer or client by asking another business in the community?  The members of the Co-op will have the ability to propose potential client/customer names to the Co-op network to verify if any other business is currently working with that person.  If so, then the likelihood that person is who they say they are is high.  If no one is working with that person, then additional due diligence can be done before taking that person on as a client/customer. The panel “How to Mitigate Fraud for Small Businesses” will be held at 2pm.

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Top 5 Twitter Accounts for Family Offices to Follow

The Rockefeller family pioneered the first family office in the late 19th century, since then family and multiple-family offices started popping up more and more. The family office is usually run by and for an individual family, to help spread their wealth through investing while managing the family’s best interests. To help you tap into your inner Rockefeller, we’ve compiled a top 5 list of family office Twitter accounts to follow. Family Office Magazine: @familyofficemag is dedicated to family offices, wealth management and high net worth individuals (HNWI).  This magazine is one of the only publications in the world that caters to the most affluent people in the industry. Richard C. Wilson: @RichardCWilson is the founder and CEO of the Family Office Club and helps families with 100M+ net worth.  His tweets give information on everything from investing to inside information about family office best practices.   WE Family Offices: @wefamilyoffices was founded in 2000 as TBK Investments and was purchased by a major holding company.  In 2013, they went independent and WFO is now a fee-only fiduciary firm. WE family offices provides daily investment commentary. Family Office Exchange: @FOXexchange was founded in 1989 by Sarah Hamilton as an independent source of information for high-wealth families and family office executives.  FOX provides information on using best practices for family wealth management. Angelo Robles: You can follow Robles at @familyoffice.  He is the founder of both Effective Family Office and the Family Office Association (FOA).  His feed gives information on the latest and greatest industry leaders with podcast interviews, as well as information on how family offices can be more productive. If you are part of a family office, or just interested in learning, any one of these Top 5 Twitter feeds can give you all the valuable insights you need.  

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