What Is a Blockchain Wallet

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

A blockchain wallet is an online wallet with which users store and manage their digital assets.

These assets could include cryptocurrencies, tokens, non-fungible tokens called NFTs, or more.

The wallet maintains the links to networks, applications, and other systems.

The wallet has a password for user access and can be recovered using a seed phrase in case the password is lost.

The wallet does not physically hold the digital assets but rather holds the links to those assets.

The wallet has a public key and a private key.

The public key is an address for the wallet and can be used as a means of identifying the wallet.

The private key acts as a password.

The private key is used to ensure the security of the wallet to which the user is the only one who has access.

Web2 applications use the login/password method to provide user access.

The problem here is that the public key and the private key are the same.

By placing a network token into your wallet you can gain access to that network.

The user controls their data through the wallet rather than login/password access.

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On this episode of Investor Connect, Hall welcomes Alex Chomp, General Partner at Minerva Fund. Located in California, Minerva Fund is an active early-stage venture capital firm that invests in women and traditionally underrepresented founders. They focus on identifying and nurturing innovative ideas that often go unnoticed in conventional funding environments. Minerva Fund is dedicated to creating a more inclusive venture capital ecosystem that aims to uplift diverse entrepreneurs and drive meaningful change in the industry.

Alex and his team believe in the power of emerging managers and the necessity of supporting underrepresented groups in the startup landscape. By investing in companies led by diverse founders, they not only promote equity but also tap into a wealth of innovative ideas that have the potential to disrupt traditional markets. The fund emphasizes a unique investment thesis centered on the decomposition of monolithic industries, recognizing that there is considerable market opportunity within sectors that can be transformed through specialization and technology-driven solutions.

Alex Chomp has been active in investing for many years, starting as an angel and then taking on roles leading various deals. His journey began as the Director of Technology for the world's largest venture capital firm in the late 1990s, an experience that provided him valuable insights into the investment landscape. Over the years, he has developed a keen understanding of the venture capital ecosystem, particularly regarding female and underrepresented founders who are often overlooked by traditional investors.

In this episode, Alex discusses his investment thesis for Minerva Fund, focusing on the importance of innovation over invention and the role of technology in transforming industries. He emphasizes the significance of revenue generation as a key indicator of success for startups and the need for diversity in leadership within the venture capital community.

Visit https://evolution-accelerator.teachable.com/

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

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Blockchain Use Cases and Applications

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Blockchain brings transparency, governance, and security to the internet.

Here’s a list of use cases and applications for blockchain.

Smart contracts -- automates the execution of contracts online.

Replacing paper contracts, these code units automate the contract and maintain an online record of the transactions.

Cybersecurity -- secures the integrity of the data and systems.

Blockchain distributes the data across the network making it more secure from hackers.

Supply chain -- captures and stores the data from all participants in a supply chain.

Blockchain maintains the record of all transactions in a supply chain network giving everyone visibility on the system.

Cryptocurrency -- enables digital money.

Blockchain removes the gatekeepers and creates an online system for supporting digital currencies through online “trust”.

NFTs -- non-fungible tokens are unique digital assets.

Blockchain enables the creation, storage, and transfer of digital assets online.

Blockchain applications benefit from the online nature of the system in which manual steps, gatekeepers, and physical components such as paper contracts and physical coins and dollars are replaced with online equivalents.

Applications include healthcare such as electronic medical record keeping.

Governance such as voting for proposals and initiatives.

Identity such as replacing passports and driver's license for proof of identity.

Banking such as the use of digital currencies instead of physical ones.

Blockchain creates a new level of network connectivity enabling higher levels of connectivity and performance.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

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How To View the Blockchain World

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Blockchain brings a new technical paradigm to the internet.

Here are the key players and components of the blockchain world

Asset holders -- they acquire tokens, coins, and NFTs that represent value.

This includes exchanges, wallets, banks, funds and lenders.

Protocols -- these are computer protocols that manage the exchange of information and value.

This includes using coins as a store of value, or tokens to gain access to an asset, or NFTs as collectibles.

Smart contracts execute the transactions within the protocol.

Exchanges -- marketplaces for trading digital assets.

This includes traditional exchanges with a gatekeeper managing the process as well as decentralized exchanges with no intermediaries.

Chains -- these are databases which store the transactions.

Network effects impact the usefulness of chains. The more users on the chain, the more users will want to engage it.

Miners -- they run algorithms to ensure the information across the distributed nodes remains accurate and consistent.

Application software -- these are the applications that provide the user specific services such as a social network, managing real estate assets, or tracking insurance coverage.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

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What Is a Blockchain

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Blockchain is a way of recording information that is hard to hack or steal.

It is a ledger of transactions that are distributed across a network of computers

New transactions are added to each ledger throughout the network.

Multiple players manage this distributed information called the Distributed Ledger.

The blockchain can be programmed with smart contracts.

These code units execute transactions across the blockchain.

The records are immutable which means they cannot be changed.

Those transacting on the blockchain can be anonymous.

Every record is encrypted for security reasons.

Each record is time and date-stamped.

No single person or node controls the blockchain.

But every node holding the blockchain collectively agrees to the content.

The blockchain provides the mechanism for building “trust” into a network.

This provides the technical basis for digital money.

There no longer needs to be a gatekeeper for handling money.

An online network of computers through a series of computer code executions can replicate the gatekeeper function.

This enables online means to manage money.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

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Decentralization in Web3

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Web3 brings a new level of decentralization to the internet.

Web3 lets users build their own economic networks using open-source code and tokens to provide incentives.

Web3 consists of several components to create the technical underpinnings that provide decentralization.

This includes digital assets such as tokens that represent value, the blockchain which stores all the transactions for transparency purposes, and smart contracts for executing the transactions.

Web3 brings a new level of governance to the entity.

Control of the entity is shared among all and executed through voting mechanisms.

Web3 decentralization separates the data from the core system so it’s portable and can be moved by the user to other platforms.

The Web3 technical structure enables the transition from a Web2 platform to a Web3 platform.

Traditional fintech companies can enable decentralization in the following ways:

Move governance to a decentralized community that votes.

Embed execution of the transactions into smart contracts.

Separate data from the code base.

Create digital assets to provide incentives for those working on the system.

Consider moving your Web2 application to Web3.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

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For Investors check out: https://tencapital.group/investor-landing/
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Web3 CFO Skills

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Web3 brings new challenges to the startup leadership.

Here are some key skills a Web3 CFO should have:

In addition to basic financial skills, the CFO should also understand the technology and frameworks for DeFi, Crypto, and Web3.

Web3 brings a new tech stack with multiple layers providing new functionality.

CFOs need to understand the structure and the regulatory requirements.

Web3 brings new ways to raise funding.

CFOs will need those tools to fund the operations.

Web3 brings new tools for financial reporting.

The CFO will need to know the Web3 tools for managing the financial aspects of the operations.

Web3 takes the treasury function to a new level.

The CFO will need to know how the treasury works to maintain ongoing operations.

Web3 interfaces with the traditional banking world.

The CFO will need to know how to manage traditional banking relationships with the Web3 structure.

Finally, converting crypto funds to traditional banking accounts require additional oversight from the CFO.

Web3 CFOs should know these areas to be effective.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

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For Investors check out: https://tencapital.group/investor-landing/
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On this episode of Investor Connect, Hall welcomes Andrew Romans, General Partner at 7BC Venture Capital Fund.
Located in Austin, Texas, 7BC Venture Capital is a global venture capital firm that invests in innovative founders addressing significant societal changes through data connected software. The firm offers strategic support along with a vast network of investors and large corporations. They also feature a unique LP in residence program, which connects limited partners with emerging startups, facilitating collaboration and investment opportunities.

Andrew Romans brings a wealth of experience, having begun his career as an entrepreneur in the enterprise software industry, spanning Silicon Valley, New York, and Austin. He has raised approximately $300 million for his startups, achieving significant milestones such as IPOs and M&As, while also navigating challenges along the way. His journey eventually led him into venture capital, where he has dedicated over 12 years to managing VC funds and assisting startups in securing funding.

In this episode, Andrew shares insights from his extensive background in venture capital, discussing the evolution of his career and the challenges faced in raising capital as an emerging manager. He emphasizes the importance of networking, understanding market dynamics, and leveraging international perspectives in investments. Andrew outlines effective strategies for engaging with startups and how governments can support innovation through tax incentives.

Andrew Romans discusses the nuances of raising venture capital, the role of media in shaping public perception, and the essential strategies for aspiring founders. He highlights the importance of building a robust network and obtaining feedback from fellow entrepreneurs to refine fundraising pitches.

Visit 7BC Venture Capital at www.7bc.vc, LinkedIn, and on Twitter.
Reach out to Andrew at www.linkedin.com/in/andrewromans and on Twitter.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
For Startups check out: https://tencapital.group/company-landing/
For eGuides check out: https://tencapital.group/education/
For upcoming Events, check out https://tencapital.group/events/

For Feedback please contact info@tencapital.group

Please follow, share, and leave a review.

Music courtesy of Bensound.