Crypto Invest Summit Day 2 Recap: Tim Draper Returns to Stage, Delivers Message to Entrepreneurs

Blockchain Beach returned for Day 2 of Crypto Invest Summit at the Los Angeles Convention Center. Click for a recap of the pre-conference Women of Crypto track and the Day 1 speakers and panels, featuring Apple Co-founder Steve Wozniak and Boost VC Founder Adam Draper.

Venture Capitalist Tim Draper delivered the morning keynote with Crypto Invest Summit’s Alon Goren and highlighted the market sectors that have his current focus:

Renowned Venture Capitalist Tim Draper (@TimDraper) returns to the Crypto Invest Summit Stage by saying, "I'm looking at the industries that provide the worst service at the highest cost: Healthcare and Financial Services" w/ @AlonGoren #investments #VC #Cryptoinvestsummit #fiat pic.twitter.com/7p8vI5kPsD

— Blockchain Beach (@blockchainbeach) October 24, 2018

Draper does not exactly understand the current rush to launch Stablecoins:

"Tethering fiat (currency) to crypto doesn't make a lot of sense to me. (Fiat is just political money)" – Tim Draper @TimDraper speaking @cryptoinvestsmt w/@AlonGoren #Cryptoinvestsummit #VC #investing #tether #cryptocurrencies #crypto pic.twitter.com/9tJ5x6tAAX

— Blockchain Beach (@blockchainbeach) October 24, 2018

What’s holding back Crypto, you ask?

What is preventing mass adoption of Crypto? "The incumbents (banks) will try to keep their hold and spread as much fear as possible…It's up to entrepreneurs to find ways to make crypto easier to use, especially for cross-border transactions like remittances" – @TimDraper pic.twitter.com/kDKnZlbXXC

— Blockchain Beach (@blockchainbeach) October 24, 2018

Next up was a fireside chat with Andrew Dix of Crowd Fund Insider and Pantera Capital Founder & CEO Dan Morehead:

The next conversation at Crypto Invest Summit features @PanteraCapital Founder & CEO and @Bitstamp Chairman Dan Morehead (@dan_pantera) w/ Andrew Dix (@AndrewRDix) #CryptoInvestSummit #HedgeFund #hedgefunds #securities pic.twitter.com/OoVZzsfBHa

— Blockchain Beach (@blockchainbeach) October 24, 2018

Morehead thinks Blockchain is the answer to the internet’s problems, but cautions patience:

“Blockchain is the final piece of the protocol puzzle that IS the Internet…Saying that blockchain transaction times suck is like saying that TCP/IP in the early 90’s sucked because you couldn’t stream @netflix in Bali” – Dan Morehead (@dan_pantera) @cryptoinvestsmt #blockchain pic.twitter.com/BI5y75VqSd

— Blockchain Beach (@blockchainbeach) October 24, 2018

CNBC Africa’s Ran Neu-Ner taped his “Crypto Trader” show live from the conference stage and subsequently moderated a panel on centralized vs decentralized exchanges:

CNBC Africa’s Ran Neu-Ner (@cryptomanran) hosts the next panel “Centralized vs Decentralized Exchanges” @cryptoinvestsmt with Aurora Labs CEO Alex Wearn (@AlexWearn), Totle CEO David Bleznak (@bleznak), Optimum CTO Brian Wheeler, Dan Fleyshman (@DanFleyshman), and Tomas Quevedo pic.twitter.com/4bLERi9pMh

— Blockchain Beach (@blockchainbeach) October 24, 2018

And later, Ausum Ventures founder Jeremy Gardner encouraged the crowd to stay up to date on what is being said on Twitter:

“Twitter is a great indicator of crypto prices” – Jeremy Gardner (@Disruptepreneur) on the “Crypto Investment Funds” panel @cryptoinvestsmt #CryptoNews #cryptotwitter #CryptoInvestSummit pic.twitter.com/RTQjsyMpYF

— Blockchain Beach (@blockchainbeach) October 24, 2018

The conversation then turned to the subject of Security Tokens and STO’s:

Are Security Tokens the Future? with @loukerner @CryptoOracleLLC, @KinseyCronin @primetrustco, @amibendavid @SPiCE_VC, David Weild IV @weildco, and Eli Blatt @the_blatt #CryptoInvestSummit pic.twitter.com/owrPPziZz5

— Blockchain Beach (@blockchainbeach) October 24, 2018

SPiCE VC Managing Partner Ami Ben-David talked about new models for startup founder equity and vesting:

"There are going to be new models. Founders and employees don't have to get full liquidity, perhaps they can sell some after a set number of years, but need to keep 70% of their equity." – @amibendavid @SPiCE_VC #CryptoInvestSummit

— Blockchain Beach (@blockchainbeach) October 24, 2018

And BitFinance CEO Eli Blatt cleared up a major misconception:

According to @the_blatt, Security Tokens are not the same as Asset Tokens. He feels it's unfortunate that the modifiers that come before the word 'token' have caused so much confusion during these conversations. Swiss regulators have done a good job clarifying #CryptoInvestSummit

— Blockchain Beach (@blockchainbeach) October 24, 2018

The following panel was on Marketing and PR for Blockchain:

ICO & STO Marketing & PR Insights with @josefholm, Alexandra Karpova @CryptoPRLab, Lindsey Carnett @MarketingMaven2, Brian Mac Mahon @Expert_Dojo, and @KurtKumar #CryptoInvestSummit pic.twitter.com/RaU8dB3WX1

— Blockchain Beach (@blockchainbeach) October 24, 2018

Last year, many conference attendees were running ICO’s. Now they are mostly doing Security Token Offerings (STOs):

The crowd was surveyed by @KurtKumar and almost no one was currently running an ICO. However, approximately 80% of the room is currently running an STO (Security Token Offering) #CryptoInvestSummit #ICO #STO

— Blockchain Beach (@blockchainbeach) October 24, 2018

The next panel was on Blockchain within Esports and Gaming:

Gaming, eSports & Entertainment on the Blockchain with Steve Beauregard @GoBloqSteve, William Quigley @quigleyreport, @IamOliveAllen @veryDecadent, John Kosner @JKosner, and Simon Bogdanowicz @simonbog #CryptoInvestSummit pic.twitter.com/448VS2aBI5

— Blockchain Beach (@blockchainbeach) October 24, 2018

Crypto Bobble-Heads have value:

“A friend bought a Mike Trout crypto-bobble had for $30 and resold for $250 shortly thereafter” – @JKosner #CryptoInvestSummit

— Blockchain Beach (@blockchainbeach) October 24, 2018

And according to William Quigley, CEO of OPSkins/WAX, Non-Fungible Tokens in gaming are about to enter the next phase past what CryptoKitties showed:

“What’s unexpected for me is how radically (non-fungible tokens) have changed due to gameplay (in less than a year)” – @quigleyreport (can’t say which games due to NDA, but they’re coming soon) #CryptoInvestSummit pic.twitter.com/djMMKNERjC

— Blockchain Beach (@blockchainbeach) October 24, 2018

But in Quigley’s experience, don’t expect to run your business on a mainnet (yet):

“It will all be side chains. You cannot operate a commercially viable business on a mainnet. Maybe one day?” – @quigleyreport #CryptoInvestSummit

— Blockchain Beach (@blockchainbeach) October 24, 2018

We closed the conference with Elephas Ventures James Glasscock:

Here Come The Tiny Gorillas with James Glasscock @ElephasVentures #CryptoInvestSummit #notNationalGeographic pic.twitter.com/Gdv0VI159F

— Blockchain Beach (@blockchainbeach) October 24, 2018

Glasscock says that new types of jobs are coming:

“100 million new jobs are coming that align with what people are passionate about” – James Glasscock @ElephasVentures on what Crypto can do #CryptoInvestSummit

— Blockchain Beach (@blockchainbeach) October 24, 2018

Click for a recap of the pre-conference Women of Crypto track and the Day 1 speakers and panels, featuring Steve Wozniak and Adam Draper.