by Ian Simpson.
“And I see that hope coming.”
With this one phrase, William Mougayar, General Partner at Virtual Capital Ventures and keynote speaker at the recent ICO Summit in Switzerland addressed the expectations (and perhaps fears) of most of the 400+ attendees gathered in Zurich’s Aura Club.
His speech – focused on blockchain token generation among other subjects – brought out the great potential for the ICO space and the expectation that new regulations – if and when they come – will recognize tokens as a new asset class, unbound by strict definitions of the past.
The theme of hope – mixed with excitement – was prevelant throughout the day-long event organized by Smart Valor (a Crypto Valley Association member) and its CEO, Olga Feldmeier. The buzz generated by the presence of the likes of Mougayar, Jamie Burke (Outlier Ventures), Richard Kastelein (Cryptoassets Design Group) and others was distinctly palatable. Outside the main hall, attendees pressed through the throng in a narrow foyer area as they attempted to network and visit the handfull of booths set up by startups looking for extra attention.
More than anything, the ICO Summit reflected the general state of crypto and blockchain – pioneers, starry-eyed idealists, hard-core techies and opportunistic adventurers all thrown in together to explore an amazing phenomenon and its possibilities.
The more than 30 startups who took a stab at pitching their ideas before the audience on two separate stages also offered an excellent sampling of the great potential for innovation. Two highlights were RecordGram – a music sharing solution and Etherisc – building decentralized insurance – both of whom captured considerable audience attention.
Top startup teams from the ICO Summit, including CVA member Etherisc (Renat Khasanshyn & Stephan Karpischek (4th & 5th from left).
Was the ICO Summit a pivotal moment in the history of cryptocurrencies? Maybe not.
But it certainly underscored the huge popularity of the ICO phenomenon and the popularity of Switzerland as a top destination for startups looking to raise funds with token generating events.
A wide range of leading figures discussing ICO Best Practices.
Some were (rightfully) quick to point out Switzerland’s responsibility to lead the way in promoting standards and best practices on the ICO front. Said Arie Levy Cohen, President of Blockhaus – “There is something arising from this, a set of standards and a language being written and created that can give Switzerland a chance to lead.”
This is an opinion that everyone in the Crypto Valley Community can and should support.
Information can be found on the ICO Summit website and YouTube
Financial information is king and Thomson Reuters Corporation holds the crown. The company is the market leader in financial data (ahead of rival information provider Bloomberg). Thomson Reuters provides electronic information and services to businesses and professionals worldwide, serving the financial services, media, legal, tax and accounting, and science markets. Data is primarily offered online, and to a lesser extent via CD-ROM and print formats; nearly all revenues come from subscription sales to its plethora of offerings. Thomson Reuters was created in 2008 as the result of the $16 billion cash and stock purchase of news service Reuters by information provider The Thomson Corporation.
Operations
The company is organized into four business units. Its Financial & Risk segment accounted for more than 50% of total net sales in fiscal 2014. The segment provides news, information, and analytics to financial institutions.
The company's Legal segment provides online and print information, decision tools, software, and services that support legal, investigation, business, and government professionals. The Legal unit accounted for more than 25% of total net sales in fiscal 2014.
Thomson Reuters' Tax & Accounting segment offers integrated tax compliance and accounting information, software, and services to accounting firms, corporations, law firms, and governments. The unit accounted for 11% of total net sales in fiscal 2014.
The company's Intellectual Property & Science segment provides comprehensive intellectual property and scientific information, decision support tools, and services to governments, academia, publishers, corporations, and law firms. The Intellectual Property & Science unit accounted for 8% of total net sales in fiscal 2014.
Geographic Reach
Thomson Reuters has a truly global scale indeed. The company operates in more than 100 countries, and more than 40% of revenues come from outside the Americas. The business has US offices in Connecticut, Massachusetts, Minnesota, New York, and Texas, and international offices in London and Bangalore, India.
Sales and Marketing
Thomson Reuters sells its products and services directly to its customers. In addition, it has been successful in selling some of its products and services online directly to customers. Focusing some of the marketing and sales efforts online has allowed it to broaden the range of customers and reduce sales and marketing costs.
Financial Performance
In fiscal 2014 Thomson Reuters' revenue was $12.6 billion. That was a decrease of $95 million compared to fiscal 2013. The primary reason for the drop was decreased sales from the company's Financial & Risk unit partially offset by increased sales from the Tax & Accounting segment.
The company's net income was $1.9 billion in fiscal 2014. That was a dramatic increase compared to the previous fiscal period. The primary reason was due to decreased operating expenses.
Thomson Reuters ended fiscal 2014 with $2.3 billion in cash on hand from operations. That was an increase of $263 million compared to the prior fiscal year.
Strategy
The company's growth strategy mainly involves developing new products, services, applications, and functionalities to better meet its customers' needs.
