Live From the World Economic Forum Industry Strategy Meeting: Breaking the Blockchain Hype - Ep.68
This is a live recording from a panel I moderated at the World Economic Forum Industry Strategy Meeting. The speakers included Shwetha Shetty Senior Director, Corporate Strategy Group, of SAP, Adam Ludwin, CEO of Chain, Brian Behlendorf, executive director of HyperLedger the Linux Foundation and Sheila Warren, project head of blockchain and distributed ledger technology at the World Economic Forum.We dive into the pros and cons of using blockchains for elections. which types of problems are best-suited to be solved by blockchain, why B2B applications of blockchain might come before B2C products and what kinds of identity-related data might be safe to put on a blockchain. Plus, Adam reveals some entertaining anecdotes about Silicon Valley safaris and how old World’s Fair tickets could have an analog to blockchain systems today.
Episodes I referenced during the discussion in case listeners want to dive more into the elections topic:
Tomicah Tillemann episode on the blockchain voting pilot in West Virginia: http://unconfirmed.libsyn.com/battling-corruption-with-blockchain-technology-tomicah-tillemann-of-the-blockchain-trust-accelerator-ep018
Alex Gladstein episode with more on blockchain-based voting: http://unconfirmed.libsyn.com/alex-gladstein-of-the-human-rights-foundation-on-the-first-crypto-war-ep021
Tweets about blockchain-based voting:
Matt Blaze’s objecton to blockchain-based voting: https://twitter.com/mattblaze/status/1002921011854143488
Vitalik’s response: https://twitter.com/VitalikButerin/status/1004203105611726849
Tomicah Tillemann’s response: https://twitter.com/TomicahTD/status/1004325810252197888
To address the question at the end about blockchain-based passports:
2 Katie Haun episodes on using blockchain-based systems to solve the problems of "breeder documents" and fraud, waste and abuse:
Fraud, waste and abuse: http://unchainedpodcast.co/live-from-inforum-at-the-commonwealth-club-blockchain-and-cryptocurrency-the-basics-with-kathryn-haun
Breeder documents: http://unchainedpodcast.co/federal-prosecutor-kathryn-haun-on-how-criminals-use-bitcoin-and-how-she-catches-them
Episode with Vinny Lighal, founder of Civic, which is working on a blockchain-based identity solution: http://unchainedpodcast.co/bitcoin-oracle-vinny-lingham-on-why-bitcoin-is-overpriced
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Adam Ludwin - A Sober View on Crypto - [Invest Like the Best, EP.66]
My guest this week is Adam Ludwin, the founder and CEO of Chain, a blockchain technology company targeted at large enterprises. Before shifting his career to focus solely on crypto, Adam was a venture capitalist focused on FinTech, which is how he came across the Bitcoin whitepaper earlier than most. I called this episode “a Sober View on Crypto” because Adam’s take is so balanced. He is certainly long crypto, both in his portfolio and career, but he is very skeptical of much of what is happening in the ecosystem today. For example, he offers the best reason I’ve heard for not launching an ICO or investing in them.
If you haven’t read Adam’s widely shared open letter to Jamie Dimon, it has become a must-read piece for crypto-enthusiasts. Read it as soon as you can.
I edited out an earlier chunk of our conversation as it was largely introductory. If you need a broader introduction to cryptocurrencies, I suggest starting with episode one of Hash Power and working your way forward. One key insight from Adam in our offline discussion what how cryptocurrencies function very much like equities or bonds. Just as equity financing enables the activity of joint stock corporations, cryptocurrencies enable activity in decentralized applications. We pick up our discussion with Adam discussing whether anyone really uses these decentralized apps today.
Hash Power is presented by Fidelity Investments
For more episodes go to InvestorFieldGuide.com/podcast.
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Show Notes
2:35 - (First Question) – Will anyone use cryptocurrency in the real world at a large scale
3:43 – The idea of censorship resistance
12:29 – Will society be accepting of this technology
14:39 – Why decentralized apps can’t be acquired
18:24 – The idea of exponential vs linear improvements on a trend and if there are limits to the growth of decentralized technologies
23:26 – The struggle with early adaption of blockchain
25:41 – Best application for bitcoin, storing value
29:52 – Adam’s introduction to cryptoassets and how his thinking has evolved in the space
36:44 – In this hyper frothy market, is there a situation that makes an ICO exciting to Adam
43:51 – Even though it appears to be easy money, Adam explains why you shouldn’t just create an ICO
50:59 – A look at what Chain is doing and what Adam is excited about
53:23 – How does what Adam is working on help to improve the ledger of his clients
1:02:00 – Why you can easily be an early investor in crypto currency
1:04:27 – Kindest thing anyone has done for Adam
Learn More
For more episodes go to InvestorFieldGuide.com/podcast.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub
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Chain's Adam Ludwin On Who Is Best Poised To Benefit From Blockchain Technology
As blockchain technology remakes financial services, some companies will be better positioned than others, says Adam Ludwin, CEO of Chain, which has partnered with incumbents like Visa, Citi and Nasdaq. Ludwin describes which types of firms will emerge winners and the mindset of the executives who really get it. He also explains why he is certain central banks will one day issue digital currency.
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a16z Podcast: Blockchain vs/and Bitcoin
Blockchain without bitcoin? It's a debate as old as the cryptocurrency itself (which, to be honest, isn't that old). Given that bitcoin is not just a digital bearer instrument/token but is a network, a distributed ledger, a protocol, the question of separating blockchain from bitcoin isn't a moot one. Especially when you think of it analogously to voice over IP, but for financial services.
So what is the financial services industry doing with this "money over IP"? Clearly many large business players are paying attention and trying to get ahead of disruption, by asking themselves exactly what their bitcoin/blockchain strategy is. Adam Ludwin shares what's happening here from his perspective as founder of Chain, an enterprise blockchain platform that partners with financial institutions to help them apply the technology to their markets.
In this episode of the a16z Podcast, Ludwin covers what it's like merging the cultures of finance and tech; what's driving the recent bitcoin prices; why he believes in blockchain beyond bitcoin; whether there can be such a thing as private or permissioned blockchains; definitions of newer concepts like 'colored coins' and 'sidechains'; and more. Oh and what are the most interesting native apps, too.
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