Where is Decentralization Headed - Keynote presentation at the Cryptospace event in Moscow. Covers where we are and where we are going in blockchain.

1. WHERE IS DECENTRALIZATION HEADED?
William Mougayar
Investor, Advisor, Board Member
Author, The Business Blockchain
Founder, The Token Summit and WMX
@wmougayar
Moscow, 8 Dec 2017
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2. The Blockchain IS a DISRUPTIVE technology
© 2017 William Mougayar @wmougayar

3. 3 Levels of Disruption
 TECHNICAL
 BUSINESS
 LEGAL
© 2017 William Mougayar @wmougayar
Database
Computing
Tokens as a new killer app
Native business models
Smart contracts
Googling 2.0

4. $14B
$100B
$430B
Source:
Coinmarketcap.com

5. © 2017 William Mougayar @wmougayar
“You never change things by fighting the
existing reality. To change something,
build a new model that makes the
existing model obsolete.”
---- Buckminster Fuller

6. The Blockchain IS
1. Cryptocurrency
2. Computing Infrastructure
3. Transaction Platform
4. Decentralized Database
5. Distributed Ledger
© 2017 William Mougayar @wmougayar
6. Development Environment
7. Open Source Software
8. Financial Services Market
9. Peer-to-Peer Network
10. Trust Services Layer

7. The Big Themes
1. Programming Money
2. Tokens as Utility
3. Business Process
Reengineering
© 2017 William Mougayar @wmougayar
4. Transactions in Value
5. Proving the truth
6. New Assets Liquidity
7. Governance Models

8. Key application areas
1. Money
2. Financial products
3. ICOs
4. Native assets trading
5. Fractional ownerships liquidity
© 2017 William Mougayar @wmougayar

9. What is a token?
A cryptocurrency with a special purpose
© 2017 William Mougayar @wmougayar

10. The killer app for the blockchain is not
tokens, but it is the creation of private
economies or ecosystems.
Tokens are just enablers to that.
© 2017 William Mougayar @wmougayar

11. What is Tokenomics
1. How you design your token role
2. How you distribute your tokens
3. How you govern your token monetary policy
© 2017 William Mougayar @wmougayar

12. Tokens 1.0 vs. Tokens 2.0
Copying what we see
vs.
Inventing what we don’t see
© 2017 William Mougayar @wmougayar

13. Staying True to Blockchain Technology
1. Removal of an intermediary or counterparty, and letting the
blockchain enact consequences
2. Peer-to-peer as infrastructure
3. Network effects with new protocols
4. Decentralization at many levels
5. Autonomy in governance © 2017 William Mougayar @wmougayar

14. ACID TEST for Tokens
1. What would happen without the token?
2. Why do you need a blockchain?
3. What is the blockchain enabling that wasn’t possible
before?
© 2017 William Mougayar @wmougayar

15. BLOCKCHAIN IS 90% GOVERNANCE AND BUSINESS
MODELS.
THE OTHER 50% IS TECHNICAL.
© 2017 William Mougayar @wmougayar

16. 3 Ways to exploit the blockchain
© 2017 William Mougayar @wmougayar
Old trying New
New applying Old
New
inventing
New

17. Do you understand the economic
model behind your token?
© 2017 William Mougayar @wmougayar

18. What is a good token?
© 2017 William Mougayar @wmougayar

19. Will ICO success rates be better
than startups?
© 2017 William Mougayar @wmougayar

20. Will decentralized open source
protocols be more powerful than
their web equivalent?
© 2017 William Mougayar @wmougayar

21. Will decentralization deliver?
© 2017 William Mougayar @wmougayar

22. Will there be a crash? How?
When?
© 2017 William Mougayar @wmougayar

23. Will countries create their own
cryptocurrency?
© 2017 William Mougayar @wmougayar

24. How high is the sky, and how
shaky is the ground?
© 2017 William Mougayar @wmougayar

25. Will regulators poke the blockchain
in the eye, or ship it in shape?
© 2017 William Mougayar @wmougayar

26. Will Wall Street adopt blockchain
technology, or will a new financial
system emerge?
© 2017 William Mougayar @wmougayar

27. Is every asset in the world destined
to become liquid?
© 2017 William Mougayar @wmougayar

28. Are tokens here to stay, and will we
see more standards beyond ERC
20 & ERC 721?
© 2017 William Mougayar @wmougayar

29. Thoughts for 2018
1. Regulation
2. Crypto Funds
3. Scalability
© 2017 William Mougayar @wmougayar
4. “Better” blockchains
5. On-chain governance
6. Role of Foundations

30. THANK YOU
William Mougayar
Investor, Advisor, Board Member
Author, The Business Blockchain
Founder, The Token Summit and WMX
@wmougayar
wmougayar@gmail.com
http://startupmanagement.org/blog