ESCP - BlockChain

BlockChain & Cryptocurrencies
The Future of Money & Business

AGENDA
• Intro.
• Primer on FinTech and Finance
• BlockChain
• Cryptocurrencies
• Smart Contracts
• Game Time
• Other Applications
• Additional Q&A.
• Resources.
Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

2
Andrea Maria Cosentino
Business Development Manager.
Founder & VC.
Editor Business & Finance.
Teacher, Mentor and Speaker.
Advocate & Mentor.
Advocate & Fellow.

3
Past, Present, Future.
Brief History of Money, Trust
and FinTech
“Money is only a tool.
It will take you wherever you wish,
“
but it will not replace you as the driver.”
- Ayn Rand -

5
TRUST & MONEY
TRUST
Noun: “ firm belief in the reliability,

truth, or ability of someone or
something”
MONEY
Verb: “ believe in the reliability,
“Money is any good that is widely used
truth, or ability of.”
and accepted in transactions
involving the transfer of goods and
services from one person to another.
Economists differentiate among three
different types of money:
commodity money, fiat money, and bank
money.”

6
THE MIDDLEMAN
MIDDLEMAN
VEICHLES OF TRUST
CENTRALISED

7
The day FinTech Happened
Raise and Growth of the
industry of the future.
“
“Ignoring technological change in a financial system based
upon technology is like a mouse starving to death because
someone moved their cheese”
– Chris Skinner -

9
THE TECH(BIG)-BANG

10
MIFID2, Electronification, Automation
MIFID2 It is a cornerstone of the EU's regulation of financial markets seeking to improve their
competitiveness by creating a single market for investment services and activities and to ensure a high
degree of harmonised protection for investors in financial instruments.
MiFID sets out:

• Conduct of business and organisational requirements
for investment firms;
• Authorisation requirements for regulated markets;
• Regulatory reporting to avoid market abuse;
• Trade transparency obligation for shares; and
• Rules on the admission of financial instruments to trading.

11
PSD2
PSD2 PAYMENT SERVICE DIRECTIVE 2
PSD2 will break down the bank’s monopoly on their user’s data. It will allow ‘merchants’, businesses like Amazon, to
retrieve your account data from your bank - with your permission. That means when you buy something they can
make a payment for you, without having to redirect you to another service (like PayPal or Visa).
• Contribute to a more integrated and efficient European payments market.

• Level the playing field for payment service providers (new players).
• Make payments safer and more secure.
• Protect consumers.
• Encourage lower prices for payments.
PSD2 outlines two types of

regulated TPP that will be granted
direct access to customer accounts:

12
OPEN BANKING
OPEN BANKING «forces the UK’s nine biggest banks – HSBC, Barclays, RBS, Santander, Bank of Ireland, Allied Irish
Bank, Danske, Lloyds and Nationwide – to release their data in a secure, standardised form, so that it can be shared
more easily between authorised organisations online.»

13
Block
Chain
“
“[…]will do to banks what email did to the postal industry.”
- Rick Falkvinge -

15
DATABASES
STRUCTURED
IN A TRADITIONAL DATABASE
ALL RIGHTS HOLD BY THE CREATOR
• SINGLE POINT OF FAILURE

UNSTRUCTURED
vs
• ALL POWER IS CENTRALISED
• A HUMAN IS THE FINAL DECISION MAKER

16
NETWORKS
DATABASES ARE STORED IN SERVERS INTERCONNECTED VIA NETWORKS
DOES ‘DISTRIBUTED LEDGER’ RING ANY BELL ?

17
CRYPTOGRAPHY & ENCRYPTION
CRYPTOGRAPHY: TO CONSTRUCT AND ANALYSE COMMUNICATION PROTOCOLS THAT PREVENT THRID PARTIES
OR THE PUBLIC FROM READING PRIVATE MESSAGES.
… BASED ON ENCRYPTION: CONVERSION OF INFORMATION

FROM A READABLE STATE TO APPARENT NONSENSE.
PKI INFRASTRUCTURE:
PRIVATE KEY YOUR ACCESS INFO
WHEN CREATED,
THE PAIR GETS GENERATED
BY AN ALGO–PROCESS.
PUBLIC KEY YOUR ADDRESS
HOW DO WE USE THIS ?
DIGITAL SIGNATURE: DIGITAL VERSION OF A WAX SEAL, USING PUB/PRIV KEY PAIRS TO FUNCTION.

18
CRYPTOGRAPHY & ENCRYPTION
NONCE: NUBER THAT IS USED ONCE FOR A SPECIFIC PURPOSE AND NEVER AGAIN. USEFUL TO REDUCE DUPLICATE TRANSACTIONS.
HASH FUNCTION: MATEMATICAL PROCESS THAT TAKES

SHA-256: SECURE HASH ALGORITHM
DATA OF ANY SIZE, PERFORMS OPERATIONS ON IT AND
GENERATING UNIQUE 256-bit HASH.
RETURNS A DATA OF FIXED SIZE (HASH) – ONE WAY.
MINING: COMPUTER IS GOING TO RESOLVE A MATHEMATICAL PROBLEM (INCLUDING HASH/NONCE)

BY APPLYING ITS MATHEMATICAL CAPABILITY.
THE HARDER THE PROBLEM, THE MORE COMPUTING POWER, THUS ELECTRICITY IS NEEDED.
THIS ACT OF MINING AND SUCCESSFULLY CREATING A WINNING HASH

IS CALLED…
PROOF OF WORK: COMPUTER IS GOING TO RESOLVE A MATHEMATICAL PROBLEM (INCLUDING HASH/NONCE)

BY APPLYING ITS MATHEMATICAL CAPABILITY.
THE HARDER THE PROBLEM, THE MORE COMPUTING POWER, THUS ELECTRICITY IS NEEDED.

19
ANATOMY OF A BLOCK
DEFINES THE TRANSACTIONS
BOUNDLED IN THE CHAIN
DEFINES THE BLOCK AND THE
TRANSACTIONS BOUNDLED IN IT
Think of a phone number

which you want to record but
also has to be shared, available
and updated in real time to the
wider community.
ALL THE RELEVANT DATA INCLUDING

PUBLIC AND PRIVATE KEY.

20
ANATOMY OF A BLOCK
MERKELE TREE
IS A TAMPER-PROOF LOG OF THE INITIAL 8 PIECES OF
INCORMATION AT THE BOTTOM OF THE TREE.
ANY CHANGE TO AN INPUT TO AN HASH FUNCTION
RESULTS IN A COMPLETLY DIFFERENT OUTPUT.

21
LIFE OF A BLOCK
RULES
Only the owner
of a phone number
will be able
to modify it.

22
ANATOMY OF A CHAIN
Change the data

Into my phonebook
(database) on my pc.
The network
Remembers the rule,
Validates the change.
Transmits the change

To all the databases
And stores it.

23
ANATOMY OF A CHAIN
THIS BUNDLE OF
INFORMATION
CREATES A BLOCK.

24
ANATOMY OF A CHAIN
What if one of the

Participants wants to
Alter the record ?

25
ANATOMY OF A CHAIN
ALL THE DATA INVOLVED IN THIS TRANSACTION

GET BUNDLED AND CREATES THE NEW BLOCK
WHICH GETS APENDED TO THE HISTORY
OR CHAIN.

26
ANATOMY OF A CHAIN
THIS IS HOW
A CHAIN LOOKS.
?
CHECK THE #HASH
THIS IS WHY
IS SECURE
AND A … WORM (?!)

27
PROOFING SYSTEM
PROOF OF … IMPORTANCE COOPERATION AUTHORITY
WORK EXISTANCE IMPACT VALUE

(by renewable energy, useful)
MOVEMENT PERSONHOOD
VS
STELLAR CONTRIBUTION
CONSENSUS (Delegated)
STAKE PROTOCOL
(Delegated, Leased)

28
PROOFING SYSTEM
WORK STAKE
BASED ON AN EXPENSIVE
DETERMINISTIC PROCESS
COMPUTER CALCULATION
BASED ON WEALTH (STAKE).
CALLED MINING.
NO BLOCK REWARD BUT A
THE FIRST MINER TO SOLVE
TRANSACTION FEE IS AWARDED.
THE PROBLEM GETS A
REWARD.
COST EFFECTIVE.
FORGERS.
NETWORK MINERS COMPETE
RANDOMIZATION
WITH EACHOTHER.

29
ONE LAST PIECE ON THE TABLE …
AN OPEN SOURCE CODE MODIFICATION.
FORKS IN CRYPTOS, TO IMPLEMENT A FUNDAMENTAL CHANGE OR TO

CREATE A NEW ASSET SIMILAR TO THE ORIGINAL.
CAN HAPPEN ACCIDENTALLY WHEN NOT ALL NODES ARE REPLICATING THE SAME INFO
HARD CHANGE OF PROTOCOL MAKING OLDER VERSIONS INVALID, GENERATING A

FORKS DIFFERENT PROTOCOL AND DATA. BRANCH TO BE ABANDONED BY MINERS.
LIGHT CHANGE OF PROTOCOL NOT AFFECTING THE STRUCTURE.

SOFT NEW BLOCKS WILL BE ACCEPTED BY OLD CHAIN,
FORKS BUT OLD BLOCKS NOT FROM THE NEW CHAIN.
MINERS TO UPGRADE AND EVENTUALLY ABANDON THE OLD VERSION.

30
THE MISSING PIECE
AREN’T WE MISSING SOMETHING ?
… OR,SOMEONE ?
THE MIDDLEMAN

31
UNIQUE ATTRIBUTES
SECURE IMMUTABLE
DECENTRALIZED PUBLIC
DISTRIBUTED ENCRYPTED

32
BASIC APPLICATION: SCHOOL GRADES
HOW CAN WE DESIGN A

DATABASE FOR SCHOOL
GRADES THAT IS
IMMUTABLE ?
WE DON’T WANT STUDENTS

COMING BACK
ANDCHANGING THEIR
GRADES.

33
Crypto
Currencies
“
“It’s gold for nerds.”
- Stephen Colbert -
American writer, comedian, television host, actor.

35
WHAT IS A CRYPTOCURRENCY
DIGITAL OR VIRTUAL (NOT PHYSICAL)

CURRENCY (ASSET)
DESIGNED TO WORK AS MEDIUM OF EXCHANGE.
THIS USES CRYPTOGRAPHY

TO SECURE AND VERIFY TRANSACTIONS
AND CONTROL THE CREATION OF NEW UNITS.
… BASED ON ENCRYPTION: TO CONSTRUCT AND ANALYSE

CONVERSION OF COMMUNICATION PROTOCOLS
INFORMATION FROM A THAT PREVENT THRID PARTIES
READABLE STATE TO OR THE PUBLIC FROM READING
APPARENT NONSENSE. PRIVATE MESSAGES.

36
BRIEF HISTORY OF BITCOIN
… A WAY TO USE CRYPTOGRAPHICALLY STRENGHTNED

PUBLIC LEDGER TO RECORD AND PROTECT TRANSACTIONS.
RELEASE BITCOIN OVER TIME TO REWARD THOSE
Satoshi WHO DEDICATE COMPUTER POWER
Nakamoto TO MAKE THE SYSTEM WORK.
1 BTC
40 USD

37
DECENTRALIZED
PROS & CONS
VALUE UNPROVEN
NO AUTHORITY = NO RECOURSE
NO OFFICIAL INFO SOURCE
UNKNONWN APPLICATIONS
LEVEL PLAYING FIELD VOLATILITY (-)
HIGH FEES, LONG WAIT

ILLIQUID – NO CASHOUT
BLOCKCHAIN & MINERS ONLINE ONLY
NETWORK LIMITATION AS GOOD AS SECURITY

MINING ECONOMICS AREN’T PERFECT & INFRASATRUCTURE
ATTACKS CAN BE AUTOMATED

38
WALLET
PUBLIC KEY YOUR ADDRESS
PRIVATE KEY YOUR ACCESS TO BITCOIN
SOFTWARE WALLETS ONLINE WALLETS PAPER WALLETS
SLOW/MANTEINANCE
IF LOST IS GONE THIRD PARTY HARD TO USE
FULL VALIDATION

39
CRYPTO TRANSACTION

40
ADDITIONAL CONSIDERATION S
• BLOCK SOLVING PROCESS: 10 MIN.
• TRANSACTIONS ARE DISPLAYED QUICKLY

BUT YOU CANNOT SPEND IT YET.
• SEVERAL WINNERS = CONFLICT RESOLUTION PROCESS (1h)
• EVERY ADDITIONAL BLOCK CONFIRMS THE ONE BEFORE

BEST WAIT FOR CONFIRMATION OF FEW MORE BLOCKS
CONFIRMING TRANSACTION AND MAKING IT IREVERSABLE
MAKE THE MONEY SPENDABLE.

41
THE POLITICAL ECONOMY OF CRYPTOS
COST OF REWARD
=
HARDWARE + MANTAINANCE + ELECTRICITY
HOW WOULD YOU

DEMAND/SUPPLY ACCEPTANCE IMPLEMENT A
MONETARY POLICY ?
REGULATION ACCESS
BACKING FORKS

42
BITCOIN vs BITCOIN CASH
24,000 TRANS/SEC BTC BLOCK SIZE 1MB (NOW 2MB)
WHY CAN’T VOLUME JUST BE INCREASED ?

7 TRANS/SEC
HOW TO SCALE ?
+ LARGER BLOCK SIZE 8MB

2017
AUG
- HIGHLY CENTRALISED,
3 MINING POOLS (51%)

43
OTHER CRYPTOS & A NEW ECOSYSTEM
ONCE UNLOCKED… ALT-COINS
MARKET CAPITALIZATION ICO

EXCHANGES
TRADING PAIRS TOKENS
USE PURPOSE
BACKING & STORY
EASY OF USE
44
WHAT DIFFERENCES & HOW TO COMPARE THEM
NOT ONLY MARKET TERMS …

• SECURITY & CRYPTOGRAPHY
• MINING PROCESS
• PRACTICAL USE
…COMPARE CRYPTOS VS. BITCOIN
•USE: EASE OF CONVERSION, SPENDING
• UTILITY: FUNCTIONALITY, BACKING
• VALUE: MARKET CAPITALIZATION
• TECH: CRYPTOGRAPHY & MINING
• ORIGIN: PRE-MINING & REPUTATION

45
RIPPLE
2004
BEFORE
BITCOIN
FINANCIAL INSTITUTIONS MULTIASSET IDENTITY
HAVE NEED THAT CANNOT PPLICATION BASED
BE ADDRESSED BY BITCOIN.
HANDLES FLEXIBLE
• LEGAL COMPLIANCE 1500 TRANS/SEC INTEGRATION
• MULTIPLE CURRENCY
100 Bn PRE-MINED WITH 20% HELD BY CREATOR
• HUGE SCALABILITY PLAYERS CAN NAME TRUSTED PARTNERS
• INTEGRATION HIEARARCHY (MKT MAKERS, GATWEAYS …)
CONSENSUS, NOT PROOF-OF-WORK

46
IOTA
INTERNET OF THINGS. DATA IS POWER. DATA IS CURRENCY. IOTA DATA MARKET PLACE
YOU PROVIDE DATA … ENERGY, COMPUTING POWER ...

IN EXCHANGE FOR A MICROPAYMENT EVERYTHING AS SERVICE
• NO BLOCKCHAIN
THE TANGLE: EACH TRANSACTION
• NO FEES
CONFIRMS 2 PREVIOUS ONE SO THERE IS
• MANY COINS = TINY VALUE = MICROPAYEMNT NO SEPARATE GROUP OF MINERS
• MEGAIOTA = 1,000,000 IOTA = MIOTA EVERYBODY DOES A LITTLE TO KEEP
• NOT BINARY (0,1) à TERNARY (-1,0,1) LEDGER SECURE.

47
Ethereum
Smart Contracts
“
“Ethereum is enabling a new form of financing in ICOs that is
like a massive gravitational pull - dragging every entrepreneur
with a sense for opportunity into its blackhole-level gravity.”
- Gil Penchina -

49
ETHEREUM
WHERE BTC IS FOR MONEY, ETH IS FOR EVERYTHING
BLOCKCHAIN MEDIATES EVENTS & RECORDS TRANSACTIONS
ETHEREUM ACCEPTS PORGRAMMING INSTRUCTIONS
SMART CONTRACTS WRITTEN USING SOLIDITY

CONTRACTS PERFORMED BY NODES à ALL TOGETHER FORM EVM (ETH VIRTUAL NETWORK)
AN APPLICATION WRITTEN BY USING SAMRT CONTRACTS IS CALLED
DISTRIBUTED APPLICATION (DAPP)
CONTRACT CREATOR PAYS PARTICIPANTS TO PROCESS THE DAPP USING ETHER
GAS à KEEP COSTS STABLE à YELLOW PAPER

50
ICO – INITIAL COIN OFFERING
IT IS THE FIRST RELEASE OF A CRYPTOCURRENCY
TOKENS VS CRYPTOCURRENCY
CAN BE TIED TO A REAL VALUE ASSET
§ HARD TO TRACK WHO IS BACKING IT AND FUTURE IMPLICATIONS

POTENTIAL
§ NO QUALIFICATION PROCESS = OVERVALUED
PROBEMS
§ NO REGULATION – POSSIBLY ILLEGAL
OF AN ICO
§ CAN BE HIJACKED
HOW TO § PAY ATTENTION TO FUNDAMENTALS

ASSESS § UNDERSTAND THE DETAILS
AN ICO § EXAMINE UTILTY OR ASSET ASSOCIATED
§ CHECK AND DOUBLE CHECK

51
HOW CAN YOU LEVERAGE ETHEREUM
RELEASE YOUR CRYPTOCURRENCY
AS IT IS NOTHING BUT A SET OF RULES ENFORCED BY BLOCKCHAIN
SO CAN BE EXPRESSED AS SMART CONTRACT
SET UP A DISTRIBUTED AUTONOMOUS ORGANIZATION
STUDY!
GET GOOD
AT
CAN’T CHANGE A SMART CONTRACT ONCE IS IN MOTION
PROGRAMMING

52
SMART CONTRACTS
THE REAL STRENGHT OF ETHEREUM LIES IN THE CREATION OF SMART CONTRACTS.
PUBLIC FUNCTIONS CAN BE CALLED ON EXTERNALLY

AND DATA WILL BE STORED IN THE BLOCKCHAIN.
WHEN YOU CALL A WRITE OPERATION WILL COST GAS ($ET).
EVERY CONTRACT WILL RUN ITS OWN ADDRESS - OWN BOX/AN ACCOUNT (0X….)
CODING THAT ALLOWS YOU TO PUT SOME MONEY IN A HOLDING BIN

WHICH WILL REQUIRE SOME PARAMENTERS TO BE MET
AND ONCE MET, RELEASE A PAYMENT.
BEHAVE LIKE A PROGRAMMING CLASS OR AN EXECUTABLE SERVICE

EACH CONTRACT IS A GROUPING OF FUNCTIONS AND STATE VARIABLES THAT RESIDE
ON A BLOCKCHAIN CAN STORE DATA
AND INTERACT WITH THE BLOCKCHAIN.

53
SMART CONTRACTS
WHEN CREATING A SMART CONTRACT, THIS WILL BE UPLOADED AS BYTECODE
WHICH IS THEN STORED IN THE ETHEREUM NETWORK (BLOCKCHAIN).
THE BLOCKCHAIN IS IMMUTABLE: EVERYTIME YOU WANT TO MAKE A CHANGE

TO THE CONTRACT YOU’LL HAVE TO CHANGE THE ADDRESS.
SO, YOU CANNOT EDIT WHAT IS IN THE ORIGINAL ADDRESS

BEACSUE IS RECORDED IN THE PROCESSED BLOCK.
SOLIDITY ALLOWS TO UPLOAD THE FULL CONTRACT IN FULL TRANSPARENCY

SO THAT EVERYONE CAN UNDERSTAND IT
LITTERALLY: DEVIL IS IN THE DETAIL.
YOU DON’T HAVE TO STORE ONLY ETHER IN A SMART CONTRACT
BUT ANY TYPE OF DATA.
BEING ABLE TO WRITE CODE AND POST IT ON THE BLOCKCHAIN ALLOWS FOR DISTRIBUTED
FUNCTIONALITIES TO BE USED TO AUTOMATED CONTRACT EXECUTION AND PROVIDE END O END POWER
TO DAPPs: DECENTRALISED APPLICATIONS.

54
Practice
Time
“Practice doesn't make perfect.
“
Practice reduces the imperfection.”
- Toba Beta, Master of Stupidity -

56
… AND NOW…
GAME TIME
PAIR UP
FIND A BLOCKCHAIN (CREATIVE!) APPLICATION IDEA
BUILD YOUR PITCH INCLUDING: WHAT, CONTEXT, APPLICATION
EXAMPLE, HOW IT SATISFIES THE 6 ATTRIBUTES.
AND THEN, PITCH IT TO ME IN MAX 5 MINS.
READY, SET, GO !
57
KEY POINTS
1. Does the project actually solve a real-world problem?
2. Does it need a blockchain ? What does the token do that cash/another crypto
cannot?
3. Who are the token issuers marketing to? Investors or users?
4. Is there a market for the project’s product or service?
5. Is the project’s technology viable?
6. Is there already a working product?
7. Who are the project’s team members? (ideally)
8. What are the terms of the issuance?
9. Who Are the Competitors?
10. Have partnerships been formed?
58
THE TIME HAS COME
PITCH
TIME
59
Other
Applications
“
"Imagination is more important than knowledge. Knowledge is
limited, whereas imagination embraces the entire world,
stimulating progress, giving birth to evolution."
- Albert Einstein -
.
61
BEYOND FINANCE

62
ENERGY
FROM GENERATION TO CONSUMER THERE ARE A MYRIAD OF STAKEHODLERS,
A COMPLEX ECOSYSTEM REQUIRING EXTENSIVE TRUST AND INTERMEDIARIES.
- SECURELY RECORDS AND STORES TRANSACTIONS
HOW CAN BLOCKCHAIN HELP ?
INCREASING INTEGRITY AND TRUST.
- PROVIDE SECURE STORAGE OF OWNERSHIP RECORDS
APPLICATION EXAMPLES:
- RECORD AND REGULATION OF OWNERSHOP OF ASSETS.

- VERIFICATION OF RENEWABLES AND EMISSION ALLOWANCES.
- SMART METER DATA SHARING WITHOUT SECUIRTY BREACH.
- ENERGY BILLING.

63
DIGITAL ID
ZUG, SWITZERLAND.
OFFERS CITIZENS DIGITAL IDENTITY.
APPLICATIONS IN THE CITY.
UPORT IS AN OPEN SOURCE SOFTWARE

TO ESATBLISH A GLOBAL UNIFIED
SOVREIGN IDENTIY SYSTEM:
- MOBILE
- OPENSOURCE SET ENABLING
INTEGRATION
- SMART CONTRACTS
- DEVELOPER TOOLS

64
SUPPLY CHAIN
3 BIG CHALLENGES OF TODAY’S SUPPLY CHAIN
KEEP TRANSACTION INFO SYNCED BETWEEN SYSTEMS AND

PARTICIPANTS.
IMPROVE RELIABILITY OF SUPPLY CHAIN DATA MAKING SURE

EVERYONE’S USING ONE SET OF BOOKS WITH RULES ON WHO
CAN MAKE ENTRIES.
INCREASE TRUST ACROSS THE CHAIN.
THINK OF SMART CONTRACTS

APPLIED TO DELIVERY & PAYMENTS.
65
New Themes
Financial Inclusion
“Financial inclusion matters not only because it promotes
“
growth, but because it helps ensure prosperity is widely shared.
Access to financial services plays a critical role in lifting people
out of poverty, in empowering women, and in helping
governments deliver services to their people.”
— Sri Mulyani Indrawati -

67
TECH-FOR-INCLUSION
68
Additional
Resources
“Happiness is only real when shared.
“
― Christopher McCandless

70
Resources
Subscribe to my newsletter to get the latest updates at
www.andrecose.com and www.licasventures\
Read my latest articles

on my Blog: https://andrecose.com/blog
Follow me on Medium: https://medium.com/@andre.cose
Follow me on Ninjamarketing: https://www.ninjamarketing.it/author/amcosentino/
Watch my panel at ESCP on AlgoTrading -

https://www.youtube.com/watch?v=ZVbB0oArdlo&feature=emb_title
Exclusive: my last publication on Financial Inclusion on the MIT Tech Review.
https://insights.techreview.com/financial-inclusion-fintech-ing-the-underbanked/
Let’s connect on LinkedIN: https://www.linkedin.com/in/andrecose/

FollowMe on Twitter: https://twitter.com/andrecose
Follow Licas Ventures on Linkedin: https://www.linkedin.com/company/licasvc
and Twitter: https://twitter.com/licasvc
71
Resources
• https://www.openbanking.org.uk/
• https://www.innovatefinance.com/
• https://fintechcircle.com/
• https://cfte.education/
• https://rise.barclays/
• https://www.level39.co/
• https://www.youtube.com/watch?v=EM7NB1_NtC4&feature=youtu.be
• https://www.henriarslanian.com/
72
Resources
Nutmeg – Start your Managed Fund with 6 Months Fee-Free
https://nutmeg.mention-me.com/m/ol/jx3ac-andrea-maria-cosentino
Revolut - Get your Revolut Account with Free Card

https://revolut.com/referral/andreafgw
Freetrade - Invest in stocks and ETFs commission-free. Sign up, get a free share worth up to £200.
https://freetrade.io/freeshare/?code=E5CYAXG059&sender=NICGXTSW
Finmize – Subscribe and get free Finance & Economy news, analysis, Events and Perks.
https://www.finimize.com/invite?kid=HQRZ1
Bloomberg – Get access to Bloomberg.com for 3 months, starting April 22 through July 31st.
https://www.bloomberg.com/help/question/free-student-access-through-july-31st/
CashCoach - Manage Money Like A Champion, Saving challenge, Smart analytics, Daily motivation.
https://cashcoach.app.link/YaaBYp1su6
Genuine Impact – Claim 1 year Free Access to Analysis and Research tools.
http://genuineimpact.io/claim?h=%E2%80%8B4bae8e
73
Additional
Q&A
Thank
You

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BlockChain & Cryptocurrencies

The Future of Money & Business

• Primer on FinTech and Finance

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

Founder & VC.

Editor Business & Finance.

Teacher, Mentor and Speaker.

Advocate & Mentor.

Advocate & Fellow.

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

Noun: “ firm belief in the reliability,

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

MiFID sets out:

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

• Contribute to a more integrated and efficient European payments market.

PSD2 outlines two types of

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

• SINGLE POINT OF FAILURE

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

DATABASES ARE STORED IN SERVERS INTERCONNECTED VIA NETWORKS

DOES ‘DISTRIBUTED LEDGER’ RING ANY BELL ?

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

… BASED ON ENCRYPTION: CONVERSION OF INFORMATION

HOW DO WE USE THIS ?

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

HASH FUNCTION: MATEMATICAL PROCESS THAT TAKES

MINING: COMPUTER IS GOING TO RESOLVE A MATHEMATICAL PROBLEM (INCLUDING HASH/NONCE)

THIS ACT OF MINING AND SUCCESSFULLY CREATING A WINNING HASH

PROOF OF WORK: COMPUTER IS GOING TO RESOLVE A MATHEMATICAL PROBLEM (INCLUDING HASH/NONCE)

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

Think of a phone number

ALL THE RELEVANT DATA INCLUDING

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

Change the data

Transmits the change

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Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

What if one of the

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ALL THE DATA INVOLVED IN THIS TRANSACTION

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

PROOF OF … IMPORTANCE COOPERATION AUTHORITY

WORK EXISTANCE IMPACT VALUE

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

AN OPEN SOURCE CODE MODIFICATION.

FORKS IN CRYPTOS, TO IMPLEMENT A FUNDAMENTAL CHANGE OR TO

HARD CHANGE OF PROTOCOL MAKING OLDER VERSIONS INVALID, GENERATING A

LIGHT CHANGE OF PROTOCOL NOT AFFECTING THE STRUCTURE.

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

AREN’T WE MISSING SOMETHING ?

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

Andrea Maria Cosentino – Copyright 2020 – www.licasventures.com – www.andrecose.com

HOW CAN WE DESIGN A