April 17 2020 Digital Gold Institute: Vision R&D center of - PowerPoint PPT Presentation

April 17 2020

Digital Gold Institute: Vision R&D center of excellence focused on teaching, training, consulting, and advising about scarcity in digital domain (bitcoin and crypto-assets) and the underlying blockchain technology Bitcoin: Digital Gold Blockchain: Hype or Reality? Blockchain requires an intrinsic native digital The most successful attempt at creating scarcity asset to provide the economic incentives for the in the digital realm without a trusted third party. blockchain maintainers to be honest. Without Bitcoin is the digital equivalent of gold, the seigniorage revenues associated to its native disruptive for our current digital civilization and asset, a blockchain system would need to select the future of money and finance . More a crypto- and appoint its maintainers, ultimately resorting commodity than a crypto-currency, Bitcoin aims to central governance. to be world reserve asset. Beyond Bitcoin: Timestamping Financial Services for Crypto The most promising field, instead of A timestamp demonstrates that a document technological applications of blockchain, is the existed in a specific status prior to a given point development of financial services for crypto in time. Digital data can be securely assets: those tools, practices, and facilities timestamped though the attestation of its hash needed by institutional investors and high net value in a blockchain transaction. What jewellery worth individuals. Finance might not need is for gold, Timestamping could be for bitcoin: blockchain, but the blockchain economy needs not essential but effective at leveraging its new financial services. beauty . 2/42

Digital Gold Institute: Services R&D center of excellence focused on teaching, training, consulting, and advising about scarcity in digital domain (bitcoin and crypto-assets) and the underlying blockchain technology Partnership Program Training Program We offer training and education about Bitcoin, Becoming one of our partners means crypto assets, blockchain, distributed ledger, empowering your business with a proper smart contracts, and cryptography: the program understanding of Bitcoin, crypto assets, and is based on the Bitcoin and Blockchain blockchain technology. It is a strategic choice Technology course taught at Milano-Bicocca and that will allow you to leverage unique other universities. opportunities while avoiding the irrational hype that pollutes these topics. Research Development We write code and love to get our hands dirty in Our research activity includes programming and technology. quarterly reports on the bitcoin and blockchain Check out our OpenTimestamps calendar free ecosystem and the thesis works of our students. facility and btclib, an open-source Python library Anyway, the bulk of the activity is happening at intended for teaching/learning/using bitcoin, its the Crypto Asset Lab (CAL), a joint research blockchain, and the associated elliptic curve initiative with the University of Milano-Bicocca. cryptography. 3/42

Digital Gold Institute: Partners Educational Program Partner Partner 4/42

The DGI Quarterly Report Exclusive for our partners and their guests ▪ A quarterly update on the crypto assets ▪ world with a focus on: 1. Market 2. Technology 3. Regulation 4. Ecosystem 5. Updates from the Institute 5/42

1. MARKET

Bitcoin Performance $20.000 BTC price in USD $17.500 $15.000 $12.500 $10.000 $7.500 $5.000 $2.500 $0 Jun 2010 Sep 2010 Dec 2010 Mar 2011 Jun 2011 Sep 2011 Dec 2011 Mar 2012 Jun 2012 Sep 2012 Dec 2012 Mar 2013 Jun 2013 Sep 2013 Dec 2013 Mar 2014 Jun 2014 Sep 2014 Dec 2014 Mar 2015 Jun 2015 Sep 2015 Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 7/42

Bitcoin Performance (Log Scale) $100.000 BTC price in USD $10.000 $3.399,47 $4.970,79 $3.236,76 $1.000 $364,33 $310,74 $777,76 Year Min Price 2011 $ 0,30 $178,10 $100 2012 $ 4,33 2013 $ 13,40 $13,40 2014 $ 310,74 $10 $4,33 2015 $ 178,10 2016 $ 364,33 2017 $ 777,76 2018 $ 3.236,76 $1 2019 $ 3.399,47 $0,30 +46% 2020 $ 4.970,79 $0 giu-10 dic-10 mar-11 giu-11 dic-11 mar-12 giu-12 dic-12 mar-13 giu-13 dic-13 mar-14 giu-14 dic-14 mar-15 giu-15 dic-15 mar-16 giu-16 dic-16 mar-17 giu-17 dic-17 mar-18 giu-18 dic-18 mar-19 giu-19 dic-19 mar-20 set-10 set-11 set-12 set-13 set-14 set-15 set-16 set-17 set-18 set-19 8/42

Bitcoin Performance (2020 Q1) $12.000 BTC price in USD 2020 Q1 Quarterly Performance from Q1 2017 to Q1 2020 $11.000 Q1 2017 11% $10.000 Q2 2017 131% Q3 2017 75% Q4 2017 $9.000 226% Q1 2018 -51% Q2 2018 -8% $8.000 Q3 2018 3% Q4 2018 -44% $7.000 Q1 2019 10% Q2 2019 163% Q3 2019 -25% $6.000 Q4 2019 -11% Q1 2020 -10% $5.000 -90% -60% -30% 0% 30% 60% 90% 120% 150% 180% 210% 240% $4.000 31 Dec 31 Jan 29 Feb 31 Mar 9/42

Correlation with Bitcoin: 3M Rolling Window 70,00% 50,00% 30,00% 10,00% -10,00% -30,00% GOLD GRAIN EUR -50,00% JPY EUR SX5E S&P500 VIX PAN EUR PAN US -70,00% 8 9 9 9 9 0 1 1 1 1 1 2 - - - - - - c r n p c r a a e u e e D M D M J S - - - - - - 0 1 1 0 1 1 3 3 3 3 3 3 10/42

Correlation with Bitcoin: 1Y Rolling Window 70,00% 50,00% 30,00% 10,00% -10,00% -30,00% GOLD GRAIN EUR -50,00% JPY EUR SX5E S&P500 VIX PAN EUR PAN US -70,00% 8 9 9 9 9 0 1 1 1 1 1 2 - - - - - - c r n p c r a a e u e e D M D M J S - - - - - - 0 1 1 0 1 1 3 3 3 3 3 3 11/42

Correlation with Bitcoin: 3Y Rolling Window 70,00% 50,00% 30,00% 10,00% -10,00% -30,00% GOLD GRAIN EUR -50,00% JPY EUR SX5E S&P500 VIX PAN EUR PAN US -70,00% 8 9 9 9 9 0 1 1 1 1 1 2 - - - - - - c r n p c r a a e u e e D M D M J S - - - - - - 0 1 1 0 1 1 3 3 3 3 3 3 12/42

Correlation with S&P500: 3Y Rolling Window 70,00% 50,00% 30,00% 10,00% -10,00% -30,00% GOLD WTI EUR -50,00% JPY PAN EUR PAN US BTC -70,00% 8 9 9 9 9 0 1 1 1 1 1 2 - - - - - - c r n p c r a a e u e e D M D M J S - - - - - - 0 1 1 0 1 1 3 3 3 3 3 3 13/42

Correlation Matrix (1/3) 3Y 100,00% BTC Data set: 2017-01-01 / 2019-12-31 17,09% 100,00% ETH LTC 15,65% 56,63% 100,00% 12,02% 37,21% 39,55% 100,00% XRP GOLD 5,68% 5,03% 0,11% 0,20% 100,00% -0,15% 2,05% -1,11% 1,34% 14,06% 100,00% IND MET -0,75% 1,99% -2,92% -0,44% 3,99% 20,64% 100,00% WTI 5,34% 1,20% -2,64% 1,82% 2,93% 6,13% 10,94% 100,00% GRAIN 3,39% 9,31% 4,16% 1,31% 48,27% 19,98% 2,37% 6,38% 100,00% Positive EUR 4,25% 8,58% 1,10% -2,17% 56,04% 9,29% -0,71% 4,32% 73,19% 100,00% Negative CHF 3,51% 3,85% 0,50% -2,59% 27,11% 9,32% 4,37% 4,45% 55,11% 40,57% 100,00% GBP 4,61% 8,90% 2,57% 0,98% 63,67% -8,62% -8,25% -1,80% 39,66% 57,71% 20,73% 100,00% JPY 2,88% 1,84% 2,36% 1,23% -12,20% 19,32% 21,89% 4,60% -0,56% -14,89% 5,54% -28,62% 100,00% NASDAQ 1,07% 2,44% 8,19% 1,42% -25,46% 24,80% 18,94% 8,55% -10,59% -27,97% 4,76% -44,63% 47,75% 100,00% EUR SX5E 2,31% 2,11% 2,24% 1,54% -14,22% 20,77% 26,54% 5,44% 0,89% -14,73% 6,34% -32,01% 95,05% 52,89% 100,00% S&P500 1,20% 3,62% 3,48% 4,15% 2,74% 36,61% 21,85% 10,64% 13,09% -0,10% 15,76% -15,09% 48,33% 48,63% 46,30% 100,00% MSCI BRIC -5,69% -4,14% -1,52% -2,85% 10,12% -15,35% -20,77% -10,44% -0,95% 14,13% -5,11% 27,47% -76,17% -47,64% -79,15% -40,97% 100,00% VIX -0,36% -4,63% -3,80% -1,48% 29,05% -12,83% -2,78% -5,53% -9,76% 4,35% -10,71% 27,78% -4,48% -4,49% -6,98% -6,99% 1,92% 100,00% EUR AGG 0,85% -5,08% -3,83% -1,30% 27,70% -16,19% -2,30% -4,79% -18,74% 2,18% 7,88% 28,93% -5,90% -5,39% -8,87% -7,66% 4,89% 91,63% 100,00% PAN EUR 0,55% 0,36% 0,48% 4,24% 46,06% -14,36% -13,04% -3,50% 9,89% 27,91% 3,65% 52,39% -26,55% -27,34% -30,30% -16,68% 25,71% 55,09% 57,03% 100,00% PAN US BTC ETH LTC XRP GOLD IND MET WTI GRAIN EUR CHF GBP JPY NASDAQ EUR SX5E S&P500 MSCI BRIC VIX EUR AGG PAN EUR PAN US Volatility Crypto-currency Commodity Currency Equity Bond 14/42