12. March 2019BTC$3.876,55 0.76%Facebook Twitter LinkedIn xing mail
BTC-ECHO: In your Blockchain Venture Studio here in Berlin to support your crypto Start-ups from idea to commercial Business. What is the role of ICOs and STOs games?
Mervyn: Our business model consists of two Services: We have a Venture Studio, in which we realize our own ideas. Currently we are working on four projects. And because in the past we had some success with our Blockchain projects, ask us for some time, other Start-ups to help with your ideas.
it is all about the scalability of Blockchains, as well as the underlying business model. ICOs and STOs are not a topic we discuss at the beginning of a project. This has the following reason: Those Start-ups that deal extensively with the subject of ICO, and STO, do not think enough about the underlying business model. Instead of solution approaches to existing problems to reflect the Funding in the foreground.
BTC-ECHO: Now you have set up the STO of Bitbond. Can you tell more about it?
Mervyn: Let us first take a step back: I think that the ICO-wave is over. Although the idea of ICOs sound initially promising, the reality is another. 86 percent of all projects were simply without substance. Only a small minority of the projects actually was interesting. Nevertheless, we are of the opinion that the capital raising is on the Blockchain is definitely one of the "Killer-Apps" [the technology]. The only question is: How do we ensure that investors are protected, certain rights and certain Standards [for the Conduct of Token Sales].
Since we are of the opinion that STOs are likely to be "the next big thing", we have founded a consulting company that STOs specialized. The biggest realization so far: founder, thinking about STO, as a rule, have a much better business model than those who want to collect the ICO's capital. To come back to Bitbond: We are proud to have Bitbond to cooperate. The company is reputable, the founding team is very good and you use a real, existent demand in the market.
BTC-ECHO: do you Think that by the end of 2019, the total will amount of accumulated capital in the case of STOs is higher than in ICOs?
Mervyn: I don't think that will happen. STOs is a brand new technology. Although the ERC1400 Standard has caused some improvements. Since then, it is possible that all of the regulatory requirements in the Smart Contracts. However, we are still at the beginning. In the case of Bitbond the STO has but it works well: We have structured the Token is similar to a bond. There is a clear interest rate of the bond, and the term is transparent and regulated. This is also the work of the regulators easier. The BaFin has approved the Bitbond - STO because of the Token structure is easy to understand.
BTC-ECHO: You were the COO at Deutsche Bank. How do you see the big financial institutions to control more processes, such as, for example, the securities settlement via DLT?
Mervyn: The large financial institutions have already invested a fortune in a Distributed Ledger technologies such as the Blockchain. That it would not have been ready yet, though, to bring a working product to the market, only with the incompetence of the responsible actors. The R3-syndicate [R3 is a consortium of 300 companies that are working on the development of a Blockchain-a platform for companies], for example, there are for 2015. A successful product could not launch the merger. If you consider that already a billion flowed to the US Dollar], which is a pretty shocking balance sheet.
We have put in contrast by using only a low single-digit million amount for a product that actually works. I can only explain it in a way that the Blockchain products, these companies [to develop as R3], at some point, the private business would destroy the models, and therefore held back. It is [in the case of the delayed development] so, not an innovation problem, but a structural Problem.
BTC-ECHO: true because even on the investment Bank J. P. Morgan, has now announced to generate your own crypto currency and with a Quorum, a DLT solution can have to show for it?
Mervyn: J. P. Morgan is, in my opinion, one of the most advanced banks. Apart from the statements of their CEO [of The J. P. Morgan CEO Jamie Dimon was in the past due to Bitcoin-skeptical statements in the criticism] works solution-oriented. You are not allowed to give Jamie Dimons statements so much attention. Because normally the CEO of such a company has neither a deep technical Knowledge and eye for innovation.
It is so: The majority of decision-makers within the banking sector earns his living by using the traditional financial system. A structural desire to innovate is therefore not often. But if the political will within the company structures, are [banks such as J. P. Morgan] is quite in the position to develop good products.
BTC-ECHO: What are the biggest Trends in the Blockchain-development are, in your opinion? What applications will we see?
Mervyn: such questions we are going to approach scientifically. Let's look at what the problems are well defined and of what [the business could result in business] opportunities. Then we look at how we could realize this business opportunity and whether the technology is already on the market. If all the conditions are met, we submit thise Use Cases, a closer look.
so Far, we are interested in use cases such as international contract management, payment services, and the automatic Opening of cases of damage for insurance companies. For these cases, we have already developed working prototypes. A further possibility is the application of the Blockchain in the retail sector. However, only in combination with other technologies: Blockchain may be the heart of the solution; you also need some AI [Artificial intelligence] as the brain of the solution, and IoT [the Internet of Things to Internet of things] as sensory organs.
Even the traditional Banking is likely to revolutionize the Blockchain. The issuing of bonds on the Blockchain for example, is already working. What is missing is the courage to implement the new approaches. 2019 is, in my opinion, the year of a private block chains and STOs.
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