Category: Generic

Spencer Dinwiddie & Contract Tokenization: The Next Generation of Finance

“The spirit of a people, its cultural level, its social structure, the deeds its policy may prepare—all this and more is written in its fiscal history, stripped of all phrases. He who knows how to listen to its message here discerns the thunder of world history more clearly than anywhere else.”

– Joseph Schumpeter

Are you not entertained?

Pick any historical period and you will see that most forms of marginalization has been built on economic systems that establish and sustain asymmetric distribution of capital and profits. Spencer Dinwiddie’s goal of tokenizing his NBA contract foreshadows a monumental shift in how money and power are distributed by leveraging the power of blockchain technology. I start with a brief introduction of how legacy power structures have been formed and present why us in the blockchain community believe so strongly in the technology.

The Roman gladiator era demonstrated the ability of emperors and powerful aristocrats to sustain their wealth via manipulation and exploitation of common day citizens. By expending slave and prisoner lives for entertainment, these powerful forces leveraged their vast resources to simultaneously create fear in breaking the law and satisfy the subconscious bloodlust of the masses. Society was not only entertained but became obsessed – so much so that the sweat of gladiators was believed by some to be powerful aphrodisiacs. Control of public entertainment (and underlying propaganda) allowed those in power to influence the masses into accepting and then desiring the image of the gladiator, reinforcing a tyrannical grasp on the Roman population.

The economic system underpinning the gladiators allowed the elite to (i) finance the construction of arenas via taxation and war and (ii) popularize a distraction to the cruel and anti-democratic principles they had set in motion. Essentially, assets from the working class were stolen and re-appropriated to maximize gains of the elite; ultimately culminating in the demise of the middle class, increased animosity amongst the starving population, a constant state of war, and the demise of the most powerful state the world had ever seen. Sound familiar?

History has been defined by people trying to optimize government and social institutions in order to maximize happiness. Humanity’s institutional relationships have changed quite substantially since the Romans. Subsequent government structures were built by the elite in all flavors – monarchy, theocracy, dictatorship, etc. Ultimately, the ability to maintain dominance was bolstered by principles of instilling fear of breaking rules while providing the bare minimum societal benefits to prevent rebellion.

The French Revolution was a watershed moment where the culmination of extreme poverty, war, massive government budget deficits, and uncontrolled spending mobilized the French population to push for radical reform. This period of enlightenment was grounded in creating momentum for democratic institutions to take hold; the movement espoused key tenets reflected even today in the US Constitution’s Bill of Rights. Technology was at the heart of the rebellion. Improvements in printing and records retention contributed to the reduction in the cost of production and allowed French citizens to better store, organize, and disseminate information. The spirit of the revolution also manifested a renewed interest in science, technology, and philosophy. The French government, fearing the rebellion, eventually began to require the registration of printing presses and filter their own propaganda through their media network. Ultimately, the revolution also paved way for Napoleon to take control as communication technologies were coopted and gave power to those that could wield it the best. As Malcom X said:

“If you’re not careful, the newspapers will have you hating the people who are being oppressed and loving the people who are doing the oppressing.”

The cycle of a paternalism continues even today despite each new advancement in communications technology (the postal system, telegraph, telephone, etc.) as the elite were able to exploit the tech to maintain control. However, for the first time, blockchain technology allows people to be their own banks and gain trust in trading with partners around the world in a seamless fashion. While these industries are still in their infancy, the hesitance of the NBA to approve SD8, the US government’s reluctance to accept Bitcoin, and trillions of dollars in negative interest rates all prove that we are doing something right. All these events are part of the same underlying story – people are becoming more powerful and that scares legacy power structures that have been engrained in society for generations. Not only can we now call bullshit easier, we have the power to do something about it.

“Basket Ball and Dance”

The Black Fives era was rife with all-black basketball teams; most notably, the New York Rens and their 83%-win rate over a 25-year period (including an 88-game win streak)! Since introduction of basketball to African Americans in the early 1900s, the sport served as a microcosm of the struggle for equal rights and to redeem a culture that for generations had been coopted and destroyed. The games, however, manifested a community ethos to social change. Organizing and promoting Black Fives basketball among all American communities was a battle focused on challenging the identification of the African American as depicted by the mainstream media.

Funding for creating teams and organizing games were often sponsored by cultural organizations such as churches and social clubs (e.g., the Y). Games were opportunities for activists, musicians, poets, and religious leaders to assimilate. It was a place everyone could come together to share ideas for improving their communities and to dance the night away. Coming together was a necessary endeavor to continue the fight against a bigoted system hell bent on keeping their boots firmly planted on the neck of emancipation movements. Basketball was a tool for minorities to fight cultural imperialism by reclaiming their identity, and it worked.

As the Black Fives games became increasingly popular, the NBA *reluctantly* allowed African Americans to play in the NBA. Over the next 7 decades, the NBA was morphed into an institution that is now trying to remove the term “Owner” given negative historical connotations. Hundreds of millions of dollars are now paid to black athletes in the form of sponsorships and salary. A good piece of that capital has been successfully filtered back to local communities through both investments by the NBA and coaches/players. NBA Cares promotes the well being of local communities across the country and soon, around the world.

Still, substantial work needs to be done. While ~70% of NBA players are identified as African American, MJ was finally named the first black majority team owner in 2004. The NBA, despite the claims of its positive effects on urban development resulting from the construction of basketball arenas, has not been able to foster statistically significant growth in these cities. In fact, the construction of sports arenas has shown to have a negative economic impact. How, with all the development and capital flowing to an economy, does that happen? Discretionary income as a percentage of income is somewhat constant over time (many would argue that this ratio is decreasing for certain populations); therefore, spending in these zip codes is just redistributed more to arena owners rather than local businesses. When teams and owners use public financing or receive favorable tax incentives, the problem is then accelerated as the taxpayers become financially responsible for construction and maintenance of the stadium, as well as the painful debt service that will last decades. The profit motives are then juxtaposed against necessary local government services such as schools, libraries, parks, etc. in the short term with the promise of improved economics (which doesn’t occur). Furthermore, development of the surrounding businesses are often national chains rather than local businesses. Sure, that means more jobs (potentially), but the massive profits are asymmetrically allocated to just a few large corporations and sucked out of the local economy.

DREAM Big

“The contemporary tendency in our society is to base our distribution on scarcity, which has vanished, and to compress our abundance into the overfed mouths of the middle and upper classes until they gag with superfluity. If democracy is to have breadth of meaning, it is necessary to adjust this inequity. It is not only moral, but it is also intelligent. We are wasting and degrading human life by clinging to archaic thinking.”

-Martin Luther King Jr.

The beginning of a monumental shift in the power structure of contract negotiations started with ‘The Decision’. Although widely mocked as an arrogant display of LeBron, the next generation of superstars benefited from the sudden transition of power from teams to players (also important to note that, even if he was arrogant, he backed it up). With the new collective bargaining agreement in place, players now enjoy more earnings potential and flexibility than ever before. Rather than deemed as assets ‘owned’ by a team, players are reshaping the equation and ‘renting’ their talents to the highest bidder or best opportunity at hand.

Further, leaders like LeBron and Spencer are today crafting ecosystems to ensure player’s voices are heard and finances are taken care of (about 60% of NBA players declare bankruptcy 5 years after retirement). The focus is shifting away from just earning a high salary to maximizing the value of one’s talents and career. This new generation of athlete entrepreneurs born in impoverished urban centers across the US over a century ago speaks to the tremendous success of grassroots movements and dedicated leaders pushing relentlessly through some of the darkest times in our country’s history.

As LeBron did for disrupting the relationship between ‘owners’ and players, Dinwiddie’s SD8 token will alter the relationship between ‘owners’, players and fans. Bringing liquidity to contracts enables players to invest better, plan, and more easily repay fans for their loyalty. Leveraging blockchain technology builds transparency into the process and minimizes rent-seeking in today’s outdated financial system. Finally, a key advantage of the SD8 securitization is the uncorrelated returns (relative to the general market). Placing faith in the talents of players is an attractive hedge against the macroeconomic background of our unsustainable central banking system. The uncorrelated nature of the SD8s will perpetuate demand for and continue to shift power in favor of the players, reversing the age-old wisdom that ‘owners’ create value for the NBA.

Tokenization of talent and skill can accelerate the process of democratization through replication of the SD8 process for various industries. The concept could help lift both the future computer scientist that lacks the ability to afford a laptop and the local artist that can’t afford a new easel. Blockchain technology empowers people to tokenize their talents and seamlessly raise capital from around the world and contribute more positively to society. The world’s trend towards a gig economy will likely further decentralize talent away from larger organizations as people are learning how to leverage their unique talents to make a living on their own. These increasingly positive trends point to a social system that can be deconstructed and rebuilt by and for the people. The next generation of civil rights leaders will no longer be labeled rebels and hosed in the streets; they are respected thought leaders with a global voice.

“Every individual… neither intends to promote the public interest, nor knows how much he is promoting it… he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention.”

-Adam Smith

Sources:

Black Fives Foundation. “The Black Fives Era in Perspective.” https://www.blackfives.org/about/

Bowen, Fred. “In its early years, NBA blocked black players.” February 15, 2017. The Washington Post. https://www.washingtonpost.com/lifestyle/kidspost/in-nbas-early-years-black-players-werent-welcome/2017/02/15/664aa92e-f1fc-11e6-b9c9-e83fce42fb61_story.html

Brangan, Mallory. “Why do taxpayer’s pay billions for football stadiums.” January 31, 2019. Vox. https://www.vox.com/2019/1/31/18204471/football-stadiums-cost-taxpayers-billions

Brooking, Doug. “The Role of the Press during the Revolutionary Period.” https://pdfs.semanticscholar.org/2254/bf9e4058d4ee789a90ed771f791fbda6e87e.pdf

De, Nikhilesh. “Spencer Dinwiddie Could Decentralize Pro Sports – If Accredited Investors Want In”. September 28, 2019. https://www.coindesk.com/spencer-dinwiddie-could-decentralize-pro-sports-if-accredited-investors-want-in

Feinstein, Brad. “Blockchain in Sports: Fractionalized Fan Ownership and Athlete Crowdfunding.” July 9, 2019. https://media.consensys.net/blockchain-in-sports-fractionalized-fan-ownership-and-athlete-crowdfunding-4aa246886f9

Istrate, Emilia and Harris, Jonathan. “The Future of Work: The Rise of the Gig Economy.” November 2017. National Counties. https://www.naco.org/featured-resources/future-work-rise-gig-economy

MIT Technology Review. “An NBA star plans to turn his contract into tokens and sell them.” January 10, 2020. https://www.technologyreview.com/f/615034/an-nba-star-plans-to-turn-his-contract-into-digital-tokens-and-sell-them/

Neuharth-Keusch, AJ. “NBA teams ‘moving away’ from using ‘owner,’ says commissioner Adam Silver.” June 24, 2019. USA Today. https://www.usatoday.com/story/sports/nba/2019/06/24/nba-commissioner-adam-silver-teams-moving-away-using-owner/1545041001/

NPR Code Switch. “Before the NBA Was Integrated, We Had the Black Fives.” March 15, 2014. https://www.npr.org/sections/codeswitch/2014/03/15/290117181/before-the-nba-was-integrated-we-had-the-black-fives

PBS News Hour. “Why should public money be used to build sports stadiums.” July 13, 2016. https://www.pbs.org/newshour/nation/public-money-used-build-sports-stadiums

Propheter, Geoffrey. “Are Basketball Arenas Catalyst of Economic Development.” Journal of Urban Affairs. November 30, 2016. https://www.tandfonline.com/doi/abs/10.1111/j.1467-9906.2011.00597.x?journalCode=ujua20

Sage, George H. “Sport and Social Resistance.” February 15, 2007. The Blackwell Encyclopedia of Sociology. https://onlinelibrary.wiley.com/doi/abs/10.1002/9781405165518.wbeoss238

Sprung, Shlomo. “Spender Dinwiddie Discusses Digital Tokenization Plan, Happening Against the NBAs Wishes.” October 17, 2019. Forbes. https://www.forbes.com/sites/shlomosprung/2019/10/17/spencer-dinwiddie-discusses-digital-tokenization-plan-happening-against-the-nbas-wishes/#63bf5f466dc0

Streeter, Kurt. “Is Slavery’s Legacy in the Power Dynamics of Sports?” August 16, 2019. The New York Times. https://www.nytimes.com/2019/08/16/sports/basketball/slavery-anniversary-basketball-owners.html

Teicher, Jordan. “America’s Black Basketball Pioneers.” April 17, 2014. Slate. https://slate.com/culture/2014/04/the-new-york-historical-societys-exhibit-the-black-fives-highlights-early-black-basketball-stars-photos.html

Thomas, Vince. “Basketball’s Forgotten (Black) History.” March 10, 2010. The Root. https://www.theroot.com/basketballs-forgotten-black-history-1790878850

Tisdale, Julie. “Publicly Funded Stadiums.” https://www.johnlocke.org/policy-position/publicly-funded-stadiums/

Torre, Pablo. “How (and Why) Athletes Go Broke.” March 23, 2019. Vault. https://www.si.com/vault/2009/03/23/105789480/how-and-why-athletes-go-broke

Winck, Ben. “The NBA is reviewing Brooklyn Nets player Spencer Dinwiddie’s revised plan to turn his contract into a digital investment vehicle.” January 14, 2020. https://markets.businessinsider.com/news/stocks/nba-reviewing-spencer-dinwiddie-plan-brooklyn-nets-contract-crypto-token-2020-1-1028816903

Zimbalist, Andrew and Noll, Roger. “Sports, Jobs & Taxes: Are New Stadiums Worth the Cost?” June 1, 1997. The Brookings Institute. https://www.brookings.edu/articles/sports-jobs-taxes-are-new-stadiums-worth-the-cost/

Santa’s Workshop: Accelerating Operations with Blockchain Technology

The growth of the world’s population and impact of globalization trends has increased the demand on Santa’s primary production facility in the North Pole (“Workshop”). The advent of new toys and their underlying technologies increases the need for a more flexible supply chain, smarter elf force, and high-quality production to meet the annual deadline. Accomplishing all of this without being attacked by Jack Frost or his henchman has forced Santa to raise the bar with the Workshop’s analytical and strategic initiatives.

Below we discuss some of the partnerships the Workshop has entered into with blockchain companies to help meet the demands of the next generation. The essential components of the Workshop are broken up into 4 core segments: Snogistics, ER Management, Sleighportation, and Predictive Naughtylitics.

Solutions for Santa’s Operations

Snogistics

The complexity of supply chains due to globalization of production has made it more difficult to obtain critical raw materials and other inputs. This dilemma is only made more cumbersome with the addition of incentives to cheat for illegal or unethical practices due to the opaque nature of expanding to new markets. To solve these issues, Santa partnered with a few tech-minded companies.

On one occasion, Santa needed to source soccer balls from Sialkot, Pakistan for children in Mexico City, Mexico. The issues with Asian soccer ball production and sourcing include (i) disputes of transfers between entities, (ii) systems and records management being subject to errors / manipulation, and (iii) the use of child labor.

To combat these obstacles, Santa partnered with Halotrade to improve verification and product tracking. Upgrading their software enabled real-time tracking of goods from production to delivery. The protocol also included an automatic P/O facilitation and financing instructions that automatically trigger at each step of the production process. This reduced burden allows Santa to use that time more effectively, such as training junior elves for the next generation of toy technologies, adding elf-power to help reduce the effect of bottlenecks, and beginning FY19 planning a bit earlier.   

Recording the data also improved knowledge of when he needs certain elves to be ready to go. When the junior sized soccer balls were close, he was able to wake up the dwarf elves and optimize the workplace for packaging and distribution. When the professional soccer balls came in, Santa needed to make sure the athletic moon elves were available for additional testing before going to the dwarf elves.

Recording data at each stage also let Santa know where the hiccups were.  It informed him of what partners got the job done, if the Workshop needs to diversify production in any one area, and to help identify declines in quality over time.

Santa also partners with Provenance to get a better idea of who the supplies were coming from. Were payments being made to money laundering opium producers? Were certain individuals cheating the supply chain to smuggle illegal goods? Were the diamonds he acquired from the Venetia mine in South clean? Provenance gave the Workshop team additional confidence that they would not ironically find themselves on the naughty list next year.  

In the words of the Workshop’s Director of Snogistics Frosty the Snowman, “Our partnerships have improved the transparency of our blockchain and made our operations more predictable. In an industry troubled with elf shortages and increasing demand, our partners give us confidence that the choices we make are founded on the best data.”

Elf Resources Management

As elves began working more and more from their homes around the world, the complexity of implementing efficient payment systems reduced the ability to recruit from emerging markets. Also, as we all know, about half of all elves lie on resumes. The certification of skills was a difficult task. Understanding the range of toy-making abilities is essential in the planning and design of the Workshop’s processes. As the ER Management’s Director Buddy the Elf Jr. notes “capability without strategy and strategy without capability are meaningless. Our partnerships help us bridge gaps in our organization.”

What partnerships? The Workshop recently entered into an agreement with Bitwage to find remote elves all over the world, set up payment terminals for their location, and receive invoices in any currency. The platform gave Santa access to almost 20,000 potential workers with sophistication in all parts of the toy making business.

To make sure they didn’t make the wrong decision, the Workshop also partnered with Vottun to create unique certificates applicable to the toy making world. It made sure they were hiring highly-skilled elves at a fraction of today’s recruiting costs.

Sleighportation

As reindeer gather all over the world to help with global coordination, maintenance of communication infrastructure, and, if they are lucky enough – fly Santa’s sleigh – the challenge of flying to everyone’s house in one night seems daunting. The now-retired Comet said, “you would think Christmas Eve is the busiest night, but setting up information architecture to understand weather patterns, conflicts around the world, condition of the sleigh, etc. are just as difficult.” 

Santa recently partnered with the Blockchain in Transport Alliance to create unique solutions to the tasks at hand. Working in coordination together, they were able to create a dashboard of real-time information for Santa to navigate during his night ride. The staff brought unique solutions from some of the top companies in the world – check out the list here – as well as the unique perspective and the technological advantage of blockchain. Safety has always been a priority of the Workshop, having delivered presents without injury for the last 10,000 years.

Predictive Naughtylitics

The ability to track and forecast naughty children to quantify the optimal level of coal necessitates advanced computers constantly slicing and dicing data structures. Santa, who takes pride in his leadership at the analytics department, spoke of the importance of applying next generation technology. He said “the complexity of right versus wrong, the impact of coal, and estimating how awesome the gift should be all require a deep understanding of statistics. Using blockchain tech, we get access to better information at an efficient price to run the right models.”

The Workshop recently partnered with the Golem network to increase accessibility to advanced computing power. They also partnered with Filecoin to buy the exact amount of storage units they need and add flexibility to their IT infrastructure in case they need to scale quickly. With all the information they created, a critical component of right sizing operations was establishing the ability to interpret the data and actively monitor when people move back and forth across the naughty/nice equilibrium. To gain further comfort in delivery success, Santa partnered with Chainalysis to make sure they are delivering coal to naughty kids, mediocre gifts to children that were mostly good, and the best gifts ever for nice children.

Summary

While many of these projects are still in their pilot / testing phases, 2019 should be an interesting year as blockchain becomes more normalized as a business tool. The recent blockchain hangover in the media related to the precipitous price declines of cryptocurrencies only masks the value generation we are beginning to see at a micro level.

(Yes, this article is satirical)

Merry Christmas and a Happy New Year!

Questions to Ask Before Blockchain Implementation — An Interview with MIMIR Blockchain Solutions

Today, I sat down with Forrest Marshall (Software Architect) and Mustafa Inamullah (Creative Director) of MIMIR Blockchain Solutions to discuss the current state of blockchain technology and their company. The intent of the interview was to uncover some of the key value drivers of the blockchain industry and separate fact from fiction after the recent popping of the cryptocurrency bubble.

For a quick summary of MIMIR Blockchain Solutions, please view the video located at the end of this blog post.

Intrinsic:
Thanks again for sitting down with us today. Given recent market dynamics (you end last paragraph with same phrase), we wanted to begin today by discussing some of the lessons from the Dot Com bubble and how they apply to blockchain. Could you discuss some of the learned themes that may have influenced your business model?

MIMIR (Mustafa):
Our focus in researching the technology bubble was to answer a simple question: what companies survived and why? No matter if you look at the Dot Com bubble of the late 90s, the Railroad bubble of the 1880s or the Tulip mania of the 1630s, the lesson is that the underlying technology or asset still exists. Innovations from the technology bubble still power economic growth, railroads continue to connect and enable businesses, and tulips can still be found at your local supermarket.

The big takeaway was that companies focusing on infrastructure to improve and sustain the internet survived. Think about Amazon, Adobe, IBM, and Oracle. With the benefit of hindsight, we can see that (1) companies focused on short-term gains were severely challenged and many even failed, (2) investors can punish you fast, and (3) infrastructure-focused companies prevailed.

Intrinsic:
How does MIMIR apply some of these lessons to their own strategy?

MIMIR (Forrest):
Since the founding of the company in 2017, we have always focused on how to provide long standing value. Initially, we set out to create a particular decentralized application (a “DAPP”). We soon realized there were serious holes in the ability to create and deploy a successful DAPP. Specifically, the ability for end-users to seamlessly and securely acquire data from the blockchain presented itself as an immediate obstacle to adoption. Therefore, our mission at MIMIR was to solve the obvious infrastructure problem to make blockchain more accessible to everyone, including users of off-chain, edge-connected devices. We have gone to lengths to educate the general public, establish credibility, and form invaluable partnerships wherever applicable.

Not many people really understand the unique strengths and weaknesses of the blockchain security model, or when and how to leverage it effectively. It is our goal to change this.

Intrinsic:
Yes, but at the same time, there are numerous internet and database security companies out there and their services improve year after year. What should companies ask themselves if they are thinking about implementing a blockchain solution rather than today’s alternatives?

MIMIR (Mustafa):
Before answering, we wanted to dispel a certain myth about blockchain technology. It isn’t a silver bullet. This technology won’t fully replace most information security systems, but it can greatly improve security and efficiency for certain mission-critical systems. There are many potential costs to consider including the limited throughput of most blockchain systems, and the limited availability of skilled blockchain developers. A quick litmus test for whether an information system really needs blockchain might be (1) is it handling mission critical information, (2) do the rules around modifying this information need to be strictly enforced, and (3) can you afford relatively low throughput for these modifications? If you didn’t answer yes to all three, there are probably better alternatives.

Intrinsic:
As a valuation firm, one of the focal points of our work is to isolate key performance indicators of a business to determine future performance and risk. One of the difficulties we have seen is that people often conflate cryptocurrency with DAPPs, with blockchain technology, with computer stuff. In addition, the categorization of blockchain technologies is still quite elementary — unless you know the industry, it is hard to understand the competitive landscape. Can you please describe how value is generated in the industry and, more specifically, by MIMIR?

MIMIR (Forrest):
One of the critical discrepancies we often note when discussing blockchain technology, and specifically its application in cryptocurrencies, is that tokens/coins themselves do not generate value. Just like a security, the underlying assets generate value. Ultimately, just as Apple stock is determined by the performance of Apple’s assets, a token or coin’s value is determined by their respective assets (if you discount some of the more behavioral based trading).

We consider ourselves a middle-ware company that adds a second layer of security to enable companies to develop DAPPs and implement them for your everyday end-user. Our mission is to build a DAPP interface to improve the security and scalability of interactions with blockchain services from resource-constrained environments. Today, there are approximately 30 million Ethereum accounts but only about 30,000 nodes serving those accounts (we note that the figures presented include multiple account ownership as well as smart contracts). This illustrates the huge discrepancy between the number of users directly interacting with the blockchain and those using third-party services.

Our system acts as a decentralized blockchain API and content-distribution network, connecting end-users with those who can serve the information they need. We will pay individuals to host blockchain data and supply it via specialized security protocols. The individuals that supply and secure the data buy into our platform via the B2i tokens (written as an Ethereum smart contract), which also acts as a contractual agreement between MIMIR and the individual. Individuals will only be able to ‘work’ up to an amount commensurate with the tokens they secured as collateral. If said individual attempts anything malicious, the collateral can be revoked and redistributed to honest parties.

Finally, in terms of categorization, you are correct in terms of the difficulty given the plethora of facts and fiction out there about the blockchain ecosystem. There are current projects aiming to figure out categorization. We recommend reviewing Tech Crunch’s classification framework as an example.

Intrinsic:
Touching more on the topic of value drivers, can these technologies contribute to an enhanced bottom line? How can companies utilize blockchain technology to improve operational efficiency?

MIMIR (Forrest):
We are positioned to capitalize on the rapid expansion expected in the DAPP industry. As the industry matures, we expect for specific applications to be developed that can enhance value. The key driver of value for this industry will be the ability for users to acquire the right information and secure it as well. Specifically, there will be large growth in IoT based devices, Decentralized Applications, and secure platforms needed for a digital identity. All of these could benefit greatly from blockchain technology, most importantly infrastructure.

Another example can be found in industries with complex supply chains. For example, let us assume an aeronautical products company like Airbus. Given the specialized requirements for each of the components that goes into building an airplane, they must be sourced from all over the world. The length of time it takes to build and ship components, risk in transporting the components, and order of units received will all play into how quickly a company can build their airplane. Also, this information goes into planning for the project, such as hiring the necessary number of workers and other financing decisions. This is a scenario where the accuracy and auditability of information is paramount, and the latency of a blockchain is inconsequential. Given the number of moving parts, the inherent fault-tolerance of blockchain data stores is a plus too. This has applicability to many global industries.

Intrinsic:
Taking a step back, could you explain how and why blockchain technology is the future? There can so much buzz about new technologies that it becomes difficult to isolate true disruptive potential from ephemeral investment fads.

MIMIR (Mustafa):
In a world facing greater digital identity security needs, we believe that the blockchain technology offers enormous upside. This not going to happen soon given the lack of infrastructure (as well as security of that infrastructure). That is why this has become our primary focus to help create this “Netscape moment” — opportunity that brings about massive adoption through better user experience. Our goal is to help facilitate this Cambrian explosion of new Decentralized Applications, by providing the necessary tools and infrastructure needed.

To say it another way, we can relate this next technological wave to the advent of the internet. Initially, the internet was not as useful for commerce because you could not trust the other party. The advent of HTTPS added an extra layer of security. You could now securely verify the identities of the entities you interact with online. If the entity was reputable, you could choose to trust the information it gave you. Blockchain technology is the next step in the process. Where HTTPS allowed you to verify the identity of an entity, blockchains allow you to verify the state of a system. If we imagine a digital chess board, HTTPS can tell you who you are playing with, and blockchain can tell you where the pieces are.

Using another example, in Healthcare there is a known gap in electronic medical records and their ability to communicate with software across other clinics. If a patient wants to track their own records, it is a nearly impossible task to first aggregate the information and then store it for future use. Furthermore, these records are a form of intellectual property, but the value may not be fully realized given the information is often disorganized and incomplete. Adding a blockchain service to verify and secure this information would save time and hassle for both patients and businesses.

We are certainly looking forward to the vast possibility of blockchain infrastructure to be used in facilitating secure growth across industries. Some industries we are particularly excited about include: advertising, fintech, compliance, auto, voting, P2P markets, and more. Collectively it’s the vast potential for the use of blockchain infrastructure that MIMIR is excited to be a part of.

Intrinsic:
Mustafa and Forrest, thanks again for taking the time out of your schedule to talk with us. It was great to hear your insight into an early but rapidly growing field.

For readers, please feel free to reach out to Mustafa or Forrest with any questions about MIMIR Blockchain Solutions. We have left their information below along with theshort introduction video.

Contact Us

Forrest Marshall
Chief Technology Officer
Forrest@MIMIRBlockchain.Solutions

Mustafa Inamullah
Creative Director
Mustafa@MIMIRBlockchain.Solutions

Telegram: https://t.me/mimirblockchain
Website: MIMIRBlockchain.Solutions

MIMIR Blockchain Solutions

— — —

Daniyal Inamullah
Vice President
Daniyal@Intrinsicfirm.com

Telegram: https://t.me/Intrinsic_Daniyal
Website: www.Intrinsicfirm.com

Policy & Procedures Checklist for Private Equity Investments in the Blockchain Industry

Overview

After the recent collapse of the cryptocurrency bubble, the appetite for institutional capital in the blockchain industry is still low, but there is an intensified focus on corporate governance, legal structure, and project teams. Investors looking to structure deals in the space need to implement appropriate methodologies for valuation and corporate governance to attract investors and create sustainable investment platform. EY’s recent study that 66% off ICOs are in the red has only increased the necessity to implement a systematic and conservative approach to investing in the space.

Don’t be caught off guard setting up proper controls for valuation policy & procedures. New valuation models such as the INET or NVT models require the assistance of experienced professions that are at the forefront of industry. Please reach out to Intrinsic today for more information!

Private Equity Checklist for Investing in the Blockchain Industry

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First Post

My Mission Statement

I found it interesting when I hear individuals seek out real estate investment income, but have yet to taken the first step. Given the amount of fake gurus and real estate experts out there, the entire process seems futile and out of reach. Some of the marketers out there also set you up for failure, charging thousands of fees with little to negative returns. Furthermore, the focus on short-term income (via “flipping” or option investing) has detracted our focus on retaining a conservative approach.

The purpose of this blog is to provide an ordinary person’s perspective on how to research and find potential real estate investments that work in the long-term. I do not claim to be an expert, because I’m not. I do not claim to have the inside scoop, because I surely don’t. I’m not trying to sell some nebulous formula to success, because I am working on making it as well.

So why read what I have to say? There is not a lot of educational websites that give information on how individuals can use public information to research potential real estate rental property investments. The problem I have found is navigating through government websites, real estate websites, and various other sources of information.

I want you to join me on my journey of navigating through the weeds and reveal different ways to research the market. I don’t plan on using any special or proprietary software, just a good old spreadsheet and the internet. I am happy to learn where I may be going wrong, because I only hope to improve as I blog.