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The Exchange

4 EpisodesProduced by The ExchangeWebsite

The Exchange is a podcast for professional investors curious about or active in cryptocurrencies -- a significant new asset class that traditional finance institutions are now exploring. Each episode we speak with an early mover in the space from venture capital, private equity, top financial firms,… read more

31:32

#002 Early Crypto at Fidelity + Cryptocurrency Infrastructure w/ Matt Walsh

In this episode, we’re joined by a former Fidelity Investments VP, Matt Walsh, who started a public blockchain-focused VC fund, Castle Island Ventures. We discuss why Fidelity is so progressive on blockchain-enabled fintech, the opportunities CIV sees in blockchain infrastructure, and Matt’s predictions around regulation, exchanges, and blockchain powering the next wave of innovation. Show notes & links below; subscribe for future episodes!

Our Guest: Matthew Walsh, Managing Partner at Castle Island Ventures

Castle Island Ventures is an early stage venture fund focused exclusively on the blockchain / cryptoasset sector. Prior to founding Castle Island Ventures, Matt was a Vice President at Fidelity Investments, where he led a number of the firm’s blockchain initiatives. While at Fidelity, he led the creation, operationalization and the investment strategy of a private fund focused on cryptoasset investments.

Our Host: Abbey Titcomb

Abbey is the EiR & Head of Strategy at Onward Labs, a venture studio working with founders leveraging emerging technologies to solve the world's most pressing issues. She is also an Associate at Underscore.VC, a $85M early-stage tech venture firm with a community-centric model supporting the next generation of transformative entrepreneurs. Abbey is hyper-curious and tech-obsessed, with focuses in blockchain, artificial intelligence, and consumer tech as a whole.

Show Notes

00:49 - How Matt got involved in crypto in business school

01:50 - Scenario-planning for the future of blockchain & financial services while at Fidelity

https://techcrunch.com/2017/09/28/fidelity-ceo-abigail-johnson-says-the-company-is-mining-cryptocurrencies/

06:02 - Being able to explore crypto at Fidelity because of support from the top, lack of career risk

07:50 - Early experiments with crypto at Fidelity

https://www.fidelitylabs.com/

https://www.youtube.com/watch?v=zh69_jruVzQ

09:15 - Why Matt created Castle Island Ventures, started investing in blockchain companies.

http://www.castleisland.vc/

10:35 - CIV's focus on public blockchains & infrastructure

11:45 - Why invest in these companies as an equity investor? Matt explains his skepticism around ICOs / the proliferation of native utility tokens.

14:07 - Market infrastructure -- custody, exchanges, *data* -- that's needed regardless.

16:10 - How CIV differs from other blockchain investors; investments they're looking to make.

https://flipsidecrypto.com/

18:39 - What kind of companies Matt's excited about

20:26 - The need for visibility into transaction volume on different chains

21:20 - What will be necessary for a Bitcoin / crypto ETF

https://www.coindesk.com/sec-rejects-7-bitcoin-etf-proposals/

24:07 - Centralized exchanges vs decentralized exchanges

25:56 - Matt's long-term view on blockchain & cryptocurrency as a whole

27:55 - How current web giants, whose businesses are built around data monopolies, will be disrupted by blockchain

Thanks for listening! Subscribe for future episodes.

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