Open Innovation - The future of crowdfunding, Conference, Berlin 2013-04-17
The future of crowdfunding
-
Upload
wanfeng-chen -
Category
Economy & Finance
-
view
61 -
download
0
Transcript of The future of crowdfunding
Crowdfundingwebsite
New Method
• What is crowdfunding?
Entrepreneur
Social MediaCrowd-investors/
Donors
$ $ $ $ $ $ $
• History of Crowdfunding
• crowdfunding was derived from a Boston musician and computerprogrammer, launched ArtistShare in 2003.
• 4 types of crowdfundingTypes Contribution Retribution Representative
platforms
Donation-BasedCrowdfunding
small amounts of money(typically between $1and $1,000, sometimesmore)
none
Reward-BasedCrowdfunding
small amounts of money(typically between $1and $1,000, sometimesmore)
Reward(often a product
or service)
Equity-BasedCrowdfunding
larger amounts ofmoney (at least $1,000and often a lot more)
a small piece of equity
Lending-BasedCrowdfunding
(P2P)
make a loan principalplus interests
• Equity-Based Crowdfunding
• What have happened?
In 2015, in US, SEC approved Title III of JOBS Act--Equity Crowdfunding with Non-
Accrediteds;
In China, Premier Li Keqiang issued a call for “people to start their own businesses
and to make innovations”(“双创”,大众创业,万众创新) , in which equity-based
crowdfunding would become a very important engine
Block chain technology will get more application, such as equity registration, risk
control, and credit record, along with the development of the equity-based
crowdfunding, to meet the requirements of high efficiency, low cost, reliable.
• What will happen?
The Future of Crowdfunding• Innovative platforms/network, blockchain and
cryptocurrencies
• Other trends of crowdfunding
• A platform which takes a widespread approach to crypto equity andcrowdfunding of early projects and business ventures.
• Use Bitcoin’s second-generation protocol
Counterparty and crowdsourcing engagement
• Crowd-incubator-like systems such as Swarm use
technology built on Bitcoin to allow start-ups to raise
money by launching their own cryptocurrencies.
• Powered by Bitcoin 2.0 technology
• Future of next-generation crowdsales
• SwarmCoin
• Advantage: designed to be compliant with the existing
legal framework with respect to security offerings
Get Your Fair Share (of Project Coins)
Swarm
Sources: http://www.swarmbot.io/s/vOQq/
• A decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference
• Build and distribute decentralized applications
• Write, deploy and use your own smart contracts
• Ether
• DESIGN AND ISSUE YOUR OWN CRYPTOCURRENCY
• KICKSTART A PROJECT WITH A TRUSTLESS CROWDSALE
• CREATE A DEMOCRATIC AUTONOMOUS ORGANIZATION
• Four component
• Static content publication
• Dynamic messages
• Trustless transactions
• Integrated user interface
• Store the recent state -> Save storage space
• Blockchain protocol with a built-in programming language
Sources: https://ethereum.org/
On a blockchain, anyone can set up a
node that replicates the necessarydata for all nodes
• A platform which provides the most secure, private, and encrypted cloudstorage, using blockchain technology and peer-to-peer protocols
• Storjcoin X (SJCX)
• USERS EARN MONEY
• 10-100X MORE COST
EFFECTIVE
• SECURE, PRIVATE &
FAST NETWORK
MetaDisk – KEEP DATA• Each file -> split into shards -> encrypted
-> upload to the network• Only you, with your private key, have
access to your data.
DriveShare – EARN MONEY• Rent out extra hard disk space in exchange
for SJCX
Initial crowd offering
• Mid-October 2014
• Raised 910 BTC
• Goal: 9800 BTC
Future crowdsales
• Fund new projects and ideas
• Support development ofongoing projects
CROWDSALES
Sources: https://storj.io/
Secure Access For Everyone
• A fully decentralized platform with open-source programs
• Most of what can be done on current internet can be done with
SAFE
• Data on this platform are heavily ”shredded” into chunks and then
encrypted
• Maidsafe(Massive Array of Internet Disks) keeps track of the
allocation of hard disk space and communication between
computers
Mastercoin
Bitcoin
Crowdfunding
Create
Safecoin
40%Reward
Leftearned
by
• “Farmers” who rent out their hard disk storage space to the net works
• “Core developers” who improve SAFE network code by fixing bugs andadding new features
• “Builders” who make their applications available on the networks.
Payment is according to applications’ popularity
• A potential crowdfunding platform for application creators
sources: http://maidsafe.net/
• A potential crowdsales platform for digital assets, provides fast & reliablemessaging combines with secure and fast Bitcoin wallet
Will issue 100 million coins
• Bonus block rewards• Promotion• Marketing• Bounties• Network R&D• Operation Cost
45 million
Stakeholders
10 million
Daily airdropfor 5 yeas
45 million
Gems
• A messaging application that is built on top of Telegram.
• GetGems groups can have up to 200 members.
• Support replies, mentions and hashtags that help maintain order and
keep communication in large communities efficient.
• Has gif search, art photo editor and an open sticker platform.
GetGems
• Gems is a social network currency.
• Ways to earn Gems:• register to the app
• invite new users who register with the referral code
• tap on the "Daily Bonus”• Gems can be trade on selected exchanges
• Daily air-dropped Gems are to the “Exodus,
dress”(addresses that were given the coins).• Ecosystem automatically credits those accounts according
to contribution.
• Value of gems will increase as the network effect of thenumber of uses and advertisements kick in.
Gems
sources: http://getgems.zendesk.com/
• Self funding and self-sustaining platform gives the stakeholders the power to direct where blockchain reserves are spent
Sources :https://bitshares.org/technology/stakeholder-approved-project-funding/
• A protocol for issuingDAC shares withshareholders workingtogether to secure thesystem.
• Disrupt anything thatdeals with digitized orcollateralized assets.• music
• insurance
• Derivatives
• banking services
• and industry
Bitshares
• The business plan can be encoded in open-source software that operate automatically in
transparent manner.• Business can easily produce profits by providing services that can charge transaction or usage fees.
• These profit can in turn be distributed to holders of Bitshares.
A self-sustaining funding model
• A decentralized domain name system(DNS) that cannot be censored /shut down.
Namecoin •Top-leve domain(TLDs) such as .bit can exist that are not owned by anyone
•DNS lookup tables are shared on a peer to peer system.
Peer to peer Low fees Worldwide Secure No limit
• A decentralized peer- peer music network to develop the front- and back-end projects that give BitShares Music Blockchain or DAC
• BitShares Music Foundation is a nonprofit organization.
• PeerTracks is a company that plug into the Bitshare Music blockchain.
• It allows for a user-friendly way for artists and fans to interact with each other by being a music
track exchange that the buying and selling currency is DAC notes.
• Artists will be able to create his/her own digital currency.
sources: https://www.weusecoins.com/what-is-namecoin/
sources: http://peertracks.com/
• Colored Coins is based on blockchain technology and focuses on using the technology to hold
real assets.
• Since the blockchain is public, it allow color-specific addresses, which hold colored bitcoins.
• One can track the assets simply by knowing the first Colored Coins and tracking them throughout
transaction history.
• Finally a way to manage a truly decentralized crowdfuding campaign where investors don’t have
to trust a complex and limited exchange protocol, the “distribute” feature creates standard
Bitcoin transactions.
• A way to manage a truly decentralized crowdfunding campaign with realassets
Australian hair salon Klipptstarted crowdfunding campaignwith colored coins.
Vapetropolis held an IPO on the Bitcoin blockchain using Colored Coins, through Coinprism
Sources: http://blog.coinprism.com/
• A debt recording, clearing and settlement agent without real-world enforcement power.
Native Currency
XRP
Create 100 billion
• Creators• Seeders• VC companies• Other founder
20%left
55%
• Users• Strategic partners
• Ripple ledger only records the amounts owed by users to
another for the Ripple native currency XRP-denominated
transactions and its use in house ledger and for transaction in
other assets.
• Users will have to define who they trust as peer and set the
limit of lending for different instruments.
• The users themselves are responsible for the counter party risk
and they can act as market makers.
• Small transition fees is charged for each transaction as an
antispam measure and the fee paid in XRP is destroyed.
• The gate way to redemption and subscription is via Ripple
network.
International Payment Infrastructure Costs
Sources :https://ripple.com/
• Hiring specialists to run their crowdfunding campaigns
The agency 2.0 has managed more than
campaigns, with average funding increasing .
Startups Agency
200
Sources: www.entrepreneur.com/article/248122
In fact, an increasing number of VCs
want startups to engage in
crowdfunding campaigns to test
their products and ask for customer
feedback.
• VCs and crowdfunding will co-exist
Sources: www.entrepreneur.com/article/248122
crowdfunding campaign posted in the AngelList
• drive corporate innovation
• offer alternatives to focus groups
Test the market for
new products
•The entrance of Fortune 100companies destroy thecrowdfunding culture
Make it harder for startups to stand out.
• More corporations launch projects on crowdfunding
Sources: www.entrepreneur.com/article/248122