Token Economies and The Fat Protocol Thesis with Jamie Burke from Outlier Ventures

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“It is probably going to be true, as in most tech cycles that the first attempts at something won’t be the ones that succeed.”
— Jamie Burke

Interview location: London
Interview date: Tue 8th August 2018
Company: Outlier Ventures
Role: CEO

The Crypto bear market has highlighted the lack of value creation within the space. While Bitcoin has many proven use cases, protocols, DApps and other altcoins are under increasing scrutiny from investors and market analysts. 

While there are plenty of theories on how the financial and technology markets will be disrupted with decentralised blockchain based ideas, there are few, if any, proven and sustainable Crypto startups. This raises some questions:

  • Do any project outside of Bitcoin require a blockchain?

  • Do users care about decentralisation?

  • Are these all just shitcoins?

Significant money has been invested in these new protocols and DApps, but many are struggling to ship, and those who do ship are struggling to gain traction. Supporters will argue that we are early, and that patience is required, but are these Crypto startups trying to solve problems which do not exist?

Building DApps is hard and smart contracts come with many complications. Still, this hasn't stopped investors from investing and coders from building. Only time will tell as to whether there is a need for blockchains outside of the Bitcoin 'Sound Money' theory or whether this is one large innovation bubble heading for a crash.

This week I interview Jamie Burke from Outlier Ventures who has invested in a number of token-based blockchain startups. We discuss token economies, the fat protocol thesis which Jamie wrote a supporting piece about called the hungry protocol and the path to decentralisation. 

 

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SPONSORS

Ahead of accepting paid sponsorships for the show, I wanted to highlight a few projects.

Token Daily
The best way to discover and discuss the latest in crypto and blockchain. The platform and newsletter feature project launches, high quality think pieces and trending news.

Sarahs Coffee
Here you will find a selection of beautiful coffee from around the world. And more importantly every purchase supports my charity The Cariad Project to enable it to send disability equipment to people in need in Africa.

Charity Water
They fund wells and other methods to provide safe, clean water to those without it. All donations go straight to the cause, as operating costs are covered by private donors. John Sanchez specifically created a campaign, called 'Crypto to Change the World', to firstly help the cause, and secondarily to showcase the giving ability of the Crypto Community as a whole. 

BREAKDOWN OF THE SHOW

00:04:40: Introductions
00:07:32: The growing complexity of crypto
00:10:13: Value generation and the Fat Protocol thesis
00:21:43: Building a minimum viable product
00:27:29: Decentralisation vs tokenisation
00:35:28: "The Pathway to Decentralisation"
00:40:59: Value transfer and trade-offs
00:45:37: Outlier investment model
00:50:21: Objectives around value extraction
00:58:27: A variety of current projects
01:02:20: Stablecoins vs volatility
01:06:27: Key milestones towards decentralisation
01:11:50: SEC regulation in the crypto space
01:18:15: Final comments

THANKS

PodcastPeter McCormackPodcast, Interview, Jamie Burke, Token Economics, Decentralisation, Fat Protocol, Hungry ProtocolComment