A Quote by Olaf Carlson-Wee
In a world with many blockchains and hundreds of tradable tokens built on top of them, entire industries are automated through software, venture capital and stock markets are circumvented, entrepreneurship is streamlined, and networks gain sovereignty through their own digital currency. This is the next phase of the Internet.
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We are seeing entrepreneurs issuing their own blockchain-based tokens to raise money for their networks, sidestepping the traditional, exclusive world of venture capital altogether. The importance of this cannot be overstated - in this new world, there are no companies, just protocols.
Application-specific tokens, or app-tokens, are built on top of existing general-purpose blockchains like Bitcoin and Ethereum. For the first time, open-source project creators can directly monetize their open-source network.
Over the next decade, there will be disruption as significant as the Internet was for publishing, where blockchain is going to disrupt dozens of industries, one being capital markets and Wall Street.
Blockchains are digital organisms. As organisms evolve through changes in their DNA, blockchain protocols evolve through changes in their code. And like biological organisms, the most adaptive blockchains will be the ones that survive and thrive.
The innovation industries are rapidly going global. In five years, more than 50% of venture capital returns will come from markets outside the United States, including China, India, Brazil, and Australia, and AlwaysOn events are on top of these trends.
I want to help create the world's first global currency built on the Internet and built on open platforms and standards such as Bitcoin, and I want to build a financial services institution on top of that. That's what I'm doing with Circle.
More and more major industries are being run on software and delivered as online services—from movies to agriculture to national defense. Many of the winners are Silicon Valley-style entrepreneurial technology companies that are invading and overturning established industry structures. Over the next 10 years, I expect many more industries to be disrupted by software, with new world-beating Silicon Valley companies doing the disruption in more cases than not.
Many countries are looking at the virtual currency and the digital currency. Now, the issue is a virtual currency by the government, digital currency by the government that is one area to look but on the other hand, there are private cryptocurrencies as well.
For me professionally as well I've built an incredible business that I'm very proud of that is my own brand and that is both creating incredible content to empower and inspire this next generation of working women through a digital platform, mainly through my website, ivankatrump.com, our email newsletters, and our social-media platforms.
Venture capital is about capturing the value between the startup phase and the public company phase.
My venture investing career has three phases, all roughly 6-8 years long. The first, at Euclid, was software to Internet. The second, at Flatiron, was Internet to bubble. And the third, at USV, has been web 2 to mobile. I have always used a new firm to denote a new investment phase for me. Throw away the old. Start with the new.
Anytime you write something, you go through so many phases. You go through the 'I'm a Fraud' phase. You go through the 'I'll Never Finish' phase. And every once in a while you think, 'What if I actually have created what I set out to create, and it's received as such?'
Earlier, physical currency used to dominate. Now, mobile currency or digital currency is dominating. For digital currency, fintech is very crucial.
The potential for the abuse of power through digital networks - upon which we the people now depend for nearly everything, including our politics - is one of the most insidious threats to democracy in the Internet age.
I am a partner at CrunchFund, a venture capital firm with investments in many startups around the world. I am also a limited partner in many other venture funds which have their own startup investments.
Today, financial capital is no longer the key asset. It is human capital. Success is no longer about economic competence as the main leverage. It is about emotional intelligence. It is no longer about controls. It is about collaboration. It is no longer about hierarchies. It is about leading through networks. It is no longer about aligning people through structures and spreadsheets. It is about aligning them through meaning and purpose. It is no longer about developing followers. It is about developing leaders.
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