Koyen and the rest of the 360 Blockchain team have been working towards investing their expertise and capital in blockchain technologies. The company also recently entered into a joint venture for one such technology, the first step toward taking advantage of “unparalleled opportunities for investment and growth,” said Koyen.
Below is a transcript of our interview with 360 Blockchain Strategic Advisor Jeff Koyen. It has been edited for clarity and brevity.
Investing News Network: Please provide our investor audience with an overview of 360 Blockchain and your investment mandate.
360 Blockchain Strategic Advisor Jeff Koyen: 360 Blockchain invests exclusively in blockchain and cryptocurrency opportunities.
It’s been less than a decade since bitcoin and its underlying technology, blockchain, were invented. Already, we’re seeing their influence on just about every industry you name—from fintech to healthcare, event ticketing to supply chain management.
At 360, we’re looking for innovators who understand the importance of these new technologies. We invest in teams with talent and vision.
INN: Can you explain to our investors what Blockchain is?
JK: It’s important that we clear up a common misconception first. Blockchain and bitcoin are usually mentioned in the same breath, but they’re not the same thing. Blockchain is the technology that underpins bitcoin. Bitcoin runs on blockchain, but blockchain technology has other applications.
Blockchain is a shared ledger used to record transactions across a decentralized network of computers. “Decentralized” is the key word here. Because they have no central authority figures, blockchains are governed by the network operators. Before any transaction is recorded to the ledger, a certain level of agreement must be reached by the entire network.
This also means that blockchains are unhackable. For any transaction to be edited retroactively, that same consensus must be reached on the network. Assuming you have a robust blockchain, hacking is a practical impossibility.
At 360, we see far-reaching applications for blockchain in just about every industry, whether it’s building a new esports ecosystem, creating an unhackable HR platform or debunking fake news stories.
INN: Please explain why 360 invests specifically in blockchain technology companies and what you look at when evaluating these companies.
JK: Blockchain will be the defining technology of the next decade. In terms of its business application, it’s the new internet. Much as the web went from a curiosity for geeks to the most important invention since television in just 10 years, these are very early days for blockchain.
We look for early-stage opportunities with teams who have real-world applications. We have certain industries in our sights—esports and human resources, to name just two—but we’re always eager to hear big ideas from just about any sector. We are actively seeking out opportunities in the crypto space, too, such as cryptocurrency mining and the development of new utility tokens.
However, we are currently not investing directly in ICOs, also known as token sales. The ICO market is too volatile and there’s too much potential for abuse. We’re looking for companies with solid fundamentals and roadmaps.
INN: What do 360’s recent strategic initiatives mean for the company?
JK: They mean we’re just getting started. Just as these are early days for this new technology, these are early days for 360 Blockchain. There are unparalleled opportunities for investment and growth.
INN: Do you have any catalysts on the horizon that investors should be excited about?
JK: As you might expect, there’s great interest and activity in the blockchain and cryptocurrency space. As a result, we have quite a few proposals in our hands and in the pipeline. All I can say right now is, we’re completing thorough due diligence on several possibilities and expect to conclude our next round of deals in very short order.
INN: In 2017, what was the most challenging aspect of the Fintech or Blockchain space, and what do you expect for 2018?
JK: For better or worse, 2017 was the year that cryptocurrency went mainstream. Most of this attention was due to the ongoing ICO craze, which has seen some truly outrageous raises. Whether or not bitcoin and other cryptocurrencies are in a bubble remains to be seen, but we’re confident that the underlying blockchain technology is a long-term winner.
CEO interviews are part of investor education campaigns for clients advertising on the Investing News Network. Important news is contextualized by CEOs, and the resulting interviews are disseminated to the Investing News Network audience because they have value to market watchers.
The Investing News Network interviews a CEO for an understanding of their perspective on the company, the investment potential of the company and market news related to the company. The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities.