About The BrainTrust
DIGITAL FINANCE & FINTECH
Book Chapters (upcoming)-
Venegas P. (2018) . Asymmetric trust and causal reasoning in blockchain-based AIs. Editor: Alfredo Morales, New England Complex Systems Institute Cambridge, USA . July 2018. STEM Academic Press.
LAW 600248 Corporate Contracts. Tilburg University, the Netherlands. Initial Coin Offering (ICOs) Risk, Value and Costin Blockchain Trustless crypto-markets.
Venegas P. (2018) Trust Asymmetry. In: Morales A., Gershenson C., Braha D., Minai A., Bar-Yam Y. (eds) Unifying Themes in Complex Systems IX. ICCS 2018. Springer Proceedings in Complexity. Springer, Cham. Springer Nature Switzerland AG 2018. Google books.
Ethereum Price Prediction, The Value Investor's Guide. Percy Venegas. Aug, 2017. Macmillan Holtzbrinck Publishers. ISBN 9781537858449
Economy Monitor Guide to Smart Contracts: Blockchain Examples. Percy Venegas. Jan, 2017. Macmillan Holtzbrinck Publishers. ISBN 9781508055075
Smart Contract Platforms: What are your Competitors Investing In? BusinessWire. 2016.
Other media coverage here
Latest conference presentations-
Tracing the Untraceable: AI Network Inference for the Dark Web and Crypto Privacy Coins. Dupont Summit | Policy Studies Organization, Washington D.C.
The International Conference on Complex Systems. July 22-27, 2018, Cambridge, MA, USA. New England Complex Systems Institute & MIT Media Lab.
Young Network Scientists, pre-ICCS event. July 21, 2018, Cambridge, MA, USA. MIT Sloan.
First Annual Conference on Fintech and Banking Transformation FinteQC’18. June 20-21, 2018. Lévis, Québec, Canada. Université du Québec à Rimouski & Desjardins.
85th International Atlantic Economic Conference, London International Atlantic Economic Society
83rd International Atlantic Economic Conference, Berlin International Atlantic Economic Society
Financial Risk & Network Theory, University of Cambridge Judge Business School. Topic: Trust-less cryptomarkets: Perspectives of Value, Risk and Cost. http://ssrn.com/abstract=2840931
Blockchains: Value Flows and Industry 4.0. ŠKODA AUTO University,Volkswagen. Mladá Boleslav. Slides.
Attention Pricing. European Financial Systems. 2016.
81st International Atlantic Economic Conference, International Atlantic Economic Society
Latest publications -
Venegas, P., Krabec, T. & Čižinská, R. Int Adv Econ Res (2018). https://doi.org/10.1007/s11294-018-9707-7. Factoring Attention Price into Investment Decisions. https://link.springer.com/article/10.1007/s11294-018-9707-7. International Advances in Economic Research. International Atlantic Economic Society 2018. https://rdcu.be/5FHF
Krabec, T. & Venegas, P. Trust Design: Balancing Smart Contracts Utility and Decentralisation Risk .Int Adv Econ Res (2017). https://doi.org/10.1007/s11294-017-9660-x. Springer.
Čižinská, Krabec, Venegas. FieldsRank: the Network Value of the Firm. 2016. International Advances in Economic Research. International Atlantic Economic Society. DOI 10.1007/s11294-016-9604-x. Springer.
Krabec, Venegas. Fields: On the Visualization of Flows in Digital Business. 2015. Financial Assets and Investing Journal. DOI: 10.5817/FAI2015-3-1.
On the sources of systemic risk in cryptocurrency markets (March 2018). DOI: 10.22541/au.152074266.61910113
Crypto Hedge Funds: Brand Equity and Risk Factors (January 20, 2018). Available at SSRN: https://ssrn.com/abstract=3106088
Trust Asymmetry (November 17, 2017). Available at SSRN: https://ssrn.com/abstract=3073410. DOI: 10.22541/au.151979448.82088697
Crypto Economy Complexity (November 17, 2017). Available at SSRN: https://ssrn.com/abstract=3073413. DOI: 10.22541/au.151979285.51792474
Trust the Name: Demonstrating Material Value Added by Management Using Intangible Flows Maps – A Case from the Blockchain Smart Contracts Industry. (December 26, 2016). http://dx.doi.org/10.2139/ssrn.2895778
Cognitive Tradeoff Analysis: A case on EU trademark law, investment risk and market entry for start-ups. 2016. https://ssrn.com/abstract=2856750
Degradation of Trust and the Digital Firm: Insights from Vector Network Analysis. 2016. https://ssrn.com/abstract=2856751
Trustless crypto-markets: Perceptions of Value, Risk and Cost. 2016. https://dx.doi.org/10.2139/ssrn.2856755
Datacenters, Finance and Social Capital (field research in Mainland China and Hong Kong)https://www.scribd.com/document/99555586/v-percy-MBA-Thesis-Holistic-Branding-Datacenters-China
IMPACT INVESTMENT & CLEANTECH
Sustainable Energy Policy Program in Central America, México and Colombia. INCAE Business School, InWEnt Capacity Building., 2009.
Discussing Impact in a Pan-American basis (panel). With: Eric Leenson (SOL2Economics), Jorge Pacheco (Sangha Investments-Brazil), Leonardo Letelier (Sitawi). Social Enterprise/Social Venture Capital Conference, Miami. April 2011.
Exportaciones Verdes. El Financiero Newspaper. December 13th 2009.
Technical and Financial aspects of holistic architecture: the case of solar energy in the eco-project (keynote). Universidad Hispanoamericana. San José, Costa Rica. November 2008, and SOCIAL CAPITAL MARKETS, San Francisco USA, 2009.
Relationship Capital and Sustainability across the Supply Chain (keynote). With: Asociación Empresarial para el Desarrollo (World Business Council for Sustainable Development). Grupo Nación, San José, Costa Rica. September 2008.
Financial aspects of Experience Based Differentiation: A global Relationship Management approach (keynote). University of Economics in Prague, Czech Republic and Skoda University (Volkswagen Group). March 2008.
Agrotourism operations inspired in Neural Networks (field research in Spain and Costa Rica)
FieldsRank: The network value of the firm
To this day, the value of the firm as an economic measure has been assessed mainly in function of direct revenues, or as a sum of claims from creditors and equity holders. However, in the context of the digital economy this approach is unworkable for both regulators and investors, since organisations proliferate and reach large scales long before there is any meaningful data available to quantify revenues, or assess the quality of their business model. Moreover, due to the network nature of digitally native companies (or the digital branches of brick and mortar firms) it is clear that they do not exist in isolation, but are actually influenced and exercising influence in other firms and networks. The connecting stream across entities is traffic: traffic inflows encode the value they receive from the network, and traffic outflows the value they contribute to the network; in essence, traffic makes the map of dependencies emerge. The own intrinsic value of the business can still be assessed using more traditional financial measures, but now it also depends on the level of visibility and liquidity associated with those flows, the strength and risk profile of the neighbouring entities, and the intensity of reach and momentum of the business itself -more fundamentally, value is a function of the information content of the firm. Since accurate estimations of traffic are now widely available, the main limitation to develop a new valuation framework is not data related, but methodological: in one side, cognitive computation processes are needed to make discovery accessible to non computational experts (e.g. officials in regulatory bodies), in the other, metric representations that are mathematically robust yet intuitive for communication of positions and relationships (for instance, to managerial audiences) are essential. In this paper we present FieldsRank, a valuation indicator for firms operating in the digital economy. Fields Finance draws upon the powerful flow descriptor capabilities of Vector Fields, which are specially suitable to visualise relationships across the multilayer domains of a digital ecosystem (including the web, social networks, email, advertising networks, apps and the internet-of-things), and fit for applying statistical rigour to behavioural dimensions as revealed by brand signals. The authors present a systematic approach to map, estimate and predict relative value of the digital firm using the FieldsRank model and a workflow based on cognitive computing (i.e. augmented/artificial intelligence); the process is validated using real data. Finally, the implications of the emergence of the “Fields Theory of Finance” are discussed.