Indeed
Draw
Serum Visions, Sleight of Hand, and Gitaxian Probe Allow you to maintain card advantage my keeping your handful and reorganizing your library. Jace, Architect of Thought contributes to this all the while preventing or damage from smaller creatures and providing a constant threat. He may not seem like much but imagine you keep prevent a deck like tron from playing their big spells. All the while building up Jace, Architect of Thought. Ultimate him and play their Elesh Norn, Grand Cenobite, Karn Liberated, or Emrakul, the Aeons Torn.
Bounce & Counter
Mana Leak, and Remand further delay the game through control. Remand may not counter the card to the graveyard, but it delays the spells casting a turn and grabs another card from your library. Boomerang allows you to bounce a land on turn two which is absurdly useful or later on you can bounce any permanent. Cryptic Command allows you to bounce counter and draw or tap down an aggro deck.
Laying Claim
Is your opponent playing non-basic, or non-island? Is this modern? Spreading Seas lets you control the opponents mana source all the while drawing cards. (There are two more on the sideboard for more fun.) Do you play islands? Vedalken Shackles allows you to take control of creatures at instant speed and slowly beat your opponent down with their own creatures. Dominus of Fealty also likes to get in on this action.
What can be worse?
How about taking your opponents lands.
Annex
does just that.
Finishers
All the permanents that are blue provide a boost to Master of Waves which is one of your kill conditions if your opponent isn't playing creatures. Dominus of Fealty significantly boosts this and is its own win condition, though neither of these are rather fast...the point of the deck slow control.
Not Enough?
The possibility of an opening hand Leyline of Anticipation lets the entire deck be played at instant speed.
Sideboard
The sideboard provides solutions to various decks that are likely to be encountered in modern. The hardest time this deck will have is probably against burn, and aggro, both of which are rather weak in the current meta.
How to be an asshole!
Playing First...Turn 1: Island + draw spell
Turn 2: Island + Boomerang (opponent has 1 land in play)
Turn 3: island + draw spell + counter mana
Turn 4: island +
Annex
(you now have 5 lands, opponent has 2)
Turn 5: island = 6 lands you can now play around almost anything your opponent could do.
