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#Crypto42 Token Summit; How to set up a Token Asset Management; Ivo SAUTER

#Crypto42 Token Summit; How to set up a Token Asset Management; Ivo SAUTER

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#Crypto42 Token Summit; How to set up a Token Asset Management; Ivo SAUTER

  1. 1. 16. April 2018, Ivo Sauter To set up a token Asset management
  2. 2. 2 Agenda 1 Basic 3 2 Blockchain asset management 7 3 Initial Coin Offerings (ICOs) – Token Sales 10 4 The Role of Banks – Chances, Opportunities and Risks 15
  3. 3. 3 Agenda 1 Basic 3 2 Blockchain asset management 7 3 Initial Coin Offerings (ICOs) – Token Sales 10 4 The Role of Banks – Chances, Opportunities and Risks 15
  4. 4. 4 Overview of Bitcoin Source: Andreas M. Antonopoulos, Mastering Bitcoin
  5. 5. 5 Bitcoin Transactions / Public and Private Keys  Bitcoin Payments are always sent to a «Public Key» (or Bitcoin address). Public keys consist of 27-34 alphanumeric characters and always begin with a «1» or «3».  Outgoing payments must always be signed with a «Private Key» (256 bits). Private keys must remain secret at all times. They provide full control over the Bitcoins they secure. They must also be backed up and protected against accidental loss. source: 99bitcoins.com
  6. 6. 6 Wallets – The difficultly on how to store your Crypto-Assets Hot / Online Wallet  Always connected to the Internet / Network  More user friendly Cold / Offline Wallet  Never connected to the Internet / Network  Very limited / no transaction capability Hardware Wallet  Needs to be connected to the Internet  Higher security
  7. 7. 7 Agenda 1 Basic 3 2 Blockchain asset management 7 3 Initial Coin Offerings (ICOs) – Token Sales 10 4 The Role of Banks – Chances, Opportunities and Risks 15
  8. 8. 8 Blockchain Asset Management at Falcon Private Bank Services  In-house Cold Storage  Investments in Crypto  Transactions Fiat <-> Crypto  Source of Funds Investments  Direct investments  Portfolio Management  Fund solutions
  9. 9. 9 Blockchain Asset Management Difficulties  Currency tokens  Security tokens Cold Storage Core banking integration Regulator & Auditoren Compliance  Currency or Asset?  Precious Metals  On- / Off- balance sheet  AML and KYC  Multi SIC  Fiat Currencies  Blockchain originated or true blockchain assets
  10. 10. 10 Agenda 1 Basic 3 2 Blockchain asset management 7 3 Initial Coin Offerings (ICOs) – Token Sales 10 4 The Role of Banks – Chances, Opportunities and Risks 15
  11. 11. 11 Dominance of Bitcoin is reducing
  12. 12. 12 Initial Coin Offerings (ICOs) – Token Sales  Tokenization: Representing traditional currencies, goods (vouchers) or capital products on the Blockchain  Ethereum (ERC 20) is currently the largest platform for ICOs  Many ICOs are being launched – their quality varies significantly! https://tokenmarket.net/ico-calendar  More than 500 ICOs (>3 billion USD) have raised funds without any bank involved
  13. 13. 13 ICO’s / Token sales
  14. 14. 14 ICO’s / Token sales Initial Coin Offering (ICO) VS Venture Capital
  15. 15. 15 Agenda 1 Basic 3 2 Blockchain asset management 7 3 Initial Coin Offerings (ICOs) – Token Sales 10 4 The Role of Banks – Chances, Opportunities and Risks 15
  16. 16. 16 The Role of Banks – Chances, Opportunities and Risks Are banks still needed, if anybody can launch (crypto) currencies, commodities and tokens on the blockchain?  Banks are trusted by their clients (safe storage of assets)  Banks are heavily regulated and create the necessary transparency and legitimacy by complying with their KYC und AML requirements  Many clients are willing to delegate asset management and custody to specialists, and also the complicated technical operations such as dealing with a «hard fork» of a crypto asset.
  17. 17. 17 The Role of Banks: Products Even though Bitcoin is by far the most known and liquid crypto asset, there is still no single crypto asset that has left the others completely behind.  Diversified investments in crypto asset funds seem appropriate  Currently, regulated or partially regulated funds are being created in Switzerland, Liechtenstein and Luxembourg  Falcon Private Bank enables its clients to buy, sell and hold a range of crypto assets just like traditional assets. It is also possible to include crypto assets as an additional asset class in portfolio management.
  18. 18. 18 The Role of Banks: Banking vs. Banks «Banking is necessary, Banks are not» Bill Gates 1994 If banks are lagging behind technological innovations, other industries will take over the banks’ traditional roles. Peer-to-Peer technologies and Crowd-xxx are empowering clients and allow for more direct client participation. The monopoly of banks for core financial services will be substituted.

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