On the morning of November 9, Jamie Burke, founder and CEO of Outlier Ventures, presented a new type of "D-Future: The Future of Decentralized Finance" by the "2019 World Blockchain Conference, Wuzhen" sub-forum hosted by Babbitt. Internet: Convergence of DLT, IoT and AI Technology" keynote speech.
Jamie Burke said at the meeting that Bitcoin has been in existence for more than 10 years, which is part of the Installation phase, and in 2018 and 2019, it is the correction phase of the market, and then we will see the company. There is so-called synergy at the beginning, and then we can see the Consolidaton phase, and the companies will become a community. In the next decade, the blockchain project that joins the community will survive, otherwise it will be eliminated.
In addition, he also said that when we look at a technology, we can't look at it from a single pattern, because each technology can be paired with the previous technology. Technology is usually combined with other technologies, and can even speed up the development of each other. The convergence of these technologies will together create the future of an "unmanned" system, and data will be new in this future.
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Finally, Jamie Burke also mentioned that Outlier Ventures is very optimistic about the development of the Chinese market. He believes that China will play a leading role in the future. It also announced that it has invested in Sperax with FBG and CASH Capital, a hardware-based consensus agreement. Designed specifically for enterprise blockchain solutions.
The following is the live speech of Ben Fisch, organized by Babbitt.
(Photo: Jamie Burke, founder and CEO of Outlier Ventures)
Jamie Burke: Hello everyone, it is my pleasure to come to China this time. I have heard a lot of speakers talking about such a wide blockchain, I really appreciate it. I am the founder and CEO of Outlier Ventures and an ambassador for 20 projects.
When it comes to blockchain, it is necessary to start with trust. If there is no trust, there will be friction.
If there are a lot of participants, and everyone has no trust, it will cost a lot of money to let everyone work together, which means that the cost of trust is not measurable. And if we can solve the pain point of trust, speed and efficiency will be much faster.
I think the blockchain is the biggest innovation we have seen in this generation. Whether it is the government, enterprises or individuals, they need to fight for their own sovereignty. Everyone is robbing each other's sovereignty. The blockchain technology itself allows everyone to maintain their own sovereignty and allow fair and transparent communication between sovereignty.
(Illustration) This is the so-called Gartner cycle. Almost every new economy will go through this cycle. This process happens almost anywhere in the world, but it happens at every location.
Through these days of observation, I found that China has reached the scene of enlightenment, so I came here instead of staying in Silicon Valley.
I think in every new era, there will be new open source products to replace the old products of the old era. The blockchain industry can also interrupt the front-end industry. The blockchain efficiency is much better, and the cost is much lower, which will impact many existing network services.
The new network can disintegrate the old form of the network, and now everyone is still looking for the name of the new network.
In the future, the blockchain industry will experience synergy and consolidation
Almost every new technology will follow the technology development curve. It usually takes several stages. Bitcoin has been in existence for more than 10 years. This is part of the Installation phase. And in 2018 and 2019, it is equal to the revision stage of the market.
The next thing we see is mainly two parts. First, the company has a so-called synergy, and each company can complement each other and start cooperation.
After that, we can see the Consolidaton phase, where the companies will come together and become a community.
After the merger, we call it a forging, I am a forging that represents a combination of 20 agreements. After a decade of becoming a forged project, they will survive and then experience a lot of expansion. And if there is no way to join the forged project, it will be phased out.
Technology will be integrated to create the future of the "unmanned" system
So when we look at a technology, we can't look at it from a single pattern, because every technology can be paired with the previous technology. Technology is usually combined with other technologies, and can even speed up the development of each other.
In 2016, we had projects that touched on distributed ledgers, mainly focusing on other technologies to develop distributed ledgers, like AI or the Internet, etc., all with such focus.
Blockchain technology needs to be merged with other technologies. With cooperation, it will accelerate development and allow the entire industry to accelerate. What kind of future will the so-called merger create? This future will be the future of the "unmanned" system.
Everyone has heard of AI. If the blockchain can be combined with 5G and other technologies, it can be gradually unmanned because it has no way to centralize it. Centralized data is not feasible. This needs to be combined with other things. It is called WEB 3.0.
The so-called WEB 3.0 will produce more things, many of which are related to "no one" and "machine".
The data is new oil and will be very valuable in the future.
And in the so-called future, the data will be new oil, they will be very valuable.
I explained a little about the merged forging just mentioned, which is a bit like an agreement. Gasoline will have oil refineries, gas stations, etc., each project needs cooperation to do better. When we talk about the Internet, everyone is using the mobile phone network. Now the connection between the machine and the network is much better than the connection between humans and the network. Now about 50% of the traffic on the network is made by robots. We are talking about the machine and the machine. In the future, how do we let the machine do most of the things, let the machine and the machine communicate more efficiently and efficiently, and then we can use the token, if the machine If you do well, you can use tokens to reward them. If you don't do well, you will be punished.
Machines are different from people because machines are very logical.
The development of AI, through the acceleration of the development of unmanned systems, can achieve a perfect state.
China will play the role of leader in the future
Generally speaking, European companies want to expand first to choose the United States, but this time, we decided to expand directly to China.
why? I think China will play a very important role in the forging and integration phase, and even the role of leader. Outlier Ventures plans to open an office in China in 2020. We are also willing to cooperate with various innovation centers, local governments and enterprises to accelerate. Technological innovation. In December of this year, we will also perform roadshows in three cities (Shanghai, Beijing and Hangzhou).
At Outlier Ventures, we have our own research team and have done a lot of research. Now we have invested in more than 20 agreements involving more than 50 million codes and 40 partner organizations.
Finally, announce our latest investment, Sperax, a hardware-based consensus protocol specifically designed for enterprise blockchain solutions. It will be an important part of enterprise applications, and we will be responsible for this project with FBG and CASH Capital.
Thank you all, I will talk about it here!