Access Ventures Invests In Blockchain
Today we are launching a Blockchain Initiative that is focused on identifying and supporting companies that are building out the decentralized ecosystem. We believe this technology has the power to transform numerous industries and drive unprecedented impact — creating a smarter and more inclusive economy.
A blockchain system is an electronic ledger that is shared amongst a network of unrelated and decentralized parties. The ledger itself may track anything, whether it be financial transactions, identity characteristics, or the timestamp of a delivery.
The data a ledger contains isn’t as important as how the decentralized network functions. The ability for unrelated parties to agree on the shared state of a ledger has created the first ever unique digital asset. There is no ability to “copy and paste” these digital files, which is why the original use case for the technology was digital money.
Furthermore, a decentralized network is one that can function without a central authority or intermediaries. This aspect of the technological innovation begins to activate one’s imagination as it has the potential to drastically change how the world functions.
We believe this technology has the power to drive unprecedented impact.
Historically, traditional power structures have been exclusionary – concentrating financial opportunity and strategic input in elite circles. Blockchain technologies have the potential to change the role of economic gatekeepers by offering new and innovative options for financial infrastructure, while simultaneously revolutionizing the future of economic engagement. We see a number of blockchain applications which promise to expand access to critical functions, such as the financial system, for those who are underserved or altogether excluded by the current system.
Moreover, this technology puts the power in the hands of the user, meaning solutions built on blockchain technology will be driven by how they impact the full diversity of stakeholders, not just how they impact shareholder returns.
Given our history of investing in companies that we actively utilize to build a more inclusive and creative economy, blockchain-based projects provide a fundamental value fit with our organization.
The technology can be applied to all initiatives promoting agency among the underserved, underbanked, and underestimated. For this reason we plan to invest in companies that drive adoption of blockchain technology. The more ubiquitous the technology becomes, the better poised we are to experience true economic inclusion.
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The blockchain industry has a lot of thought leaders and no shortage of growth capital, which are both important ingredients to success. We view our role as both implementation and adoption partners, which aligns with our impact goal of driving greater use of the technology. Additionally, our strategy speaks directly to a deficiency in the industry: usage.
Access Ventures has a history of catalyzing adoption of new technologies in new markets. Whether it’s our history with Kiva and building an ecosystem in which the platform is a critical component of the capital stack, or beta-testing Ethic’s value-defined ETFs and opening it up to billions of investment dollars across registered investment advisor platforms. We expect to approach our blockchain investments with a similar passion and commitment to driving adoption.
We believe that a number of companies deploying blockchain protocols will emerge and bring with them unprecedented changes to our civic and economic life. If you have one of these companies, we’d love to meet you!