Bitcoin & Blockchain for Friends
- 1. @SDWOUTERS Bitcoin & Blockchain For Friends
- 2. Speaker on Bitcoin & Blockchain Digital Transformation Consultant at Duval Union Consulting @sdwouters Sam Wouters
- 3. ‣ We are a digital consulting company. ‣ Founded in 2009 as DearMedia. ‣ We work for large European clients. ‣ We have a strong vision on the impact of digital and act accordingly. ‣ We are advisors, writers, coaches and entrepreneurs.
- 4. I explain to people why Bitcoin & Blockchain matter, how they work and what we can do with them @SDWOUTERS
- 6. @SDWOUTERS “bitcoin is digital money” Who has heard of Bitcoin before today? Positive image? Negative image? Who fundamentally understands Bitcoin?
- 7. @SDWOUTERS Media that predicted The Death of Bitcoin Deaths by publication: DailyPaulCNNCity A.M.ChronBroken Librarian BTC Feed Business Insider BloombergAbout.com Acton BizNews.comArduino TronicapenwarrAOL Financial TimesFester’s DenDavid Seaman FortuneForbesFool.com Fusion Gizmodo Australia IEX International Business Times Javamazon Moneygeek MyBroadBandMother Jones News.com.au NewStatesman NY Mag OUI Share The New York TimesThe KernelThe Calculating InvestorStreet Insider Sputnik NewsPYMNTS.com Reuters Robert Nielsen Salon Seeking Alpha The Underground EconomistThe Telegraph The Washington Post The Weekly Standard USA Today Valley News VICE News Wired YahooWall Street Daily bitcoinobituaries.com
- 8. "Don't forget that the millions of people all over the world who are now part of the Bitcoin network were once very strong skeptics. This includes people with decades of experience in network security and cryptography." ~Andreas Antonopoulos @SDWOUTERS
- 9. @SDWOUTERS A Quick Introduction To Bitcoin & Blockchain
- 10. @SDWOUTERS Invented in 2008: a system to eliminate the need for “trusted” third parties bitcoin.org/bitcoin.pdf
- 12. @SDWOUTERS The first thing bought with 10.000 Bitcoins in 2010
- 13. @SDWOUTERS Bitcoin’s best days must be over! Is worth over €6 Million today at €600 per BTC
- 14. So much value, all for shady digital money?
- 15. @SDWOUTERS Bitcoin challenges your understanding of money
- 16. Banks: Bitcoin can’t work, It’s all about the Blockchain
- 17. @SDWOUTERS What’s the difference? Bitcoin is a way to digitally transfer ownership without a middleman The blockchain is a database that records ownership through time
- 18. A 5 minute explanation won’t make you understand why they matter
- 19. @SDWOUTERS WHAT can we do with them? HOW do they work? WHY do Bitcoin & Blockchain exist?
- 21. @SDWOUTERS Why do digital money transfers take days?
- 22. @SDWOUTERS Why are digital money transfers expensive? 9% FEE?
- 23. @SDWOUTERS Financial innovation is held back by rules and regulations@SDWOUTERS
- 24. @SDWOUTERS But this is innovation!
- 25. Say that to the 40% unbanked adults worldwide…
- 26. And to the people who pay 5-25% money transfer fees @SDWOUTERS
- 27. @SDWOUTERS If you want to send money you have to WAIT PAY
- 28. @SDWOUTERS Yet we can do THIS? @SDWOUTERS
- 29. @SDWOUTERS@SDWOUTERS Bitcoin is about more than global payments
- 30. We have more debt than can EVER be repaid
- 31. @SDWOUTERS Income inequality keeps growing
- 32. @SDWOUTERS Nations have gold reserves that don’t exist “There hasn’t been a comprehensive audit of Fort Knox in over 60 years.”
- 33. @SDWOUTERS Currencies are not backed by anything
- 34. @SDWOUTERS Leading to unprecedented money printing
- 35. @SDWOUTERS The money in your bank loses value Inflation Interest>
- 36. @SDWOUTERS Soon you’ll be PAYING banks so they can do risky investments with your money
- 37. @SDWOUTERS If finance is so messed up why don’t we fix it?
- 38. @SDWOUTERS Governments are not in charge in the financial world Governments Corporates Banks National central banks International central banks Central bank of central banks Regulation
- 39. Resulting in "cosy" relationships between financial businesses and regulators @SDWOUTERS
- 40. @SDWOUTERS Banks won’t stop messing around
- 41. Resulting in "cosy" relationships between financial businesses and regulators. @SDWOUTERS We are fighting a never ending flood
- 42. @SDWOUTERS HOW do they work? WHY do Bitcoin & Blockchain exist?
- 45. @SDWOUTERS Money is sent directly between two parties
- 46. @SDWOUTERS Transactions are synchronised through the network
- 47. The blockchain is a global “bookkeeping” system It records who owns what, and when @SDWOUTERS
- 48. Anyone can own a copy of the Blockchain @SDWOUTERS
- 49. @SDWOUTERS How do we Record transactions so nobody can change them?
- 51. @SDWOUTERS Problems Solutions Central point of failure Decentralized network Expensive to secure Shared security cost Trust who is in charge Trust a fixed set of rules Centralized All organizations
- 52. @SDWOUTERS Problems Solutions Central point of failure Decentralized network Expensive to secure Shared security cost Trust who is in charge Trust a fixed set of rules Decentralized The Internet & Bitcoin Centralized All organizations
- 53. The Blockchain is secured by computing power from people and companies all over the world @SDWOUTERS
- 54. @SDWOUTERS In return for their work, the miners earn new bitcoins and transaction fees
- 55. …These “miners” verify the transactions and add them to the next block in the Blockchain
- 56. @SDWOUTERS When you change a transaction the link to that block changes as well
- 57. @SDWOUTERS The network will know that your version has been messed with and reject it
- 58. @SDWOUTERS You then need to create a blockchain with more computer power than the entire network combined
- 59. The network is 20.000 times stronger than the top 500 supercomputers in the world
- 60. @SDWOUTERS Who decides what everyone does with their computer? Problems Solutions Central point of failure Decentralized network Expensive to secure Shared security cost Trust who is in charge Trust a fixed set of rules Decentralized The Internet & Bitcoin
- 61. It started from the base code, ever since improvements have been proposed by developers around the world bitcoin.org/bitcoin.pdf … github.com/bitcoin/bips
- 62. @SDWOUTERS If the vast majority of the network agrees, the code can be changed
- 63. @SDWOUTERS What does this technical stuff mean for me?
- 64. Send & receive payments anywhere in the world Nobody can stop it
- 65. Bitcoin is open to anyONE without identification or authentication @SDWOUTERS
- 66. @SDWOUTERS Governments and banks dislike… because they have less control over us. They can't track what we do with it, so people can use it for illegal activities. CASH because they have no control. They can track exactly what we do with it, but we would also see what they do… BITCOIN
- 67. Which is exactly what happened theguardian.com/us-federal-agent-investigating-silk-road-admits-800000-bitcoin-theft
- 68. What criminal leaves permanent evidence? @SDWOUTERS
- 69. @SDWOUTERS Should we have forbidden these too because criminals can use them? Technology always reflects society
- 70. Anyone can develop new applications for Bitcoin, without permission
- 71. @SDWOUTERS internetlivestats.com/internet-users/ The same force driving internet innovation for 20 years
- 72. @SDWOUTERS Creates huge value for consumers, economic growth, jobs
- 73. @SDWOUTERS Abra: Mobile banking with Uber-style exchange goabra.com
- 74. I don’t really need Bitcoin Until your life is international
- 75. Transferred money with a large fee or terrible exchange rate? Have you ever… Tried to understand why these transfers take days? Paid fees or exchange rates at ATM’s or with your card abroad?
- 76. Have you ever been to a country where the majority of the population is unbanked?
- 77. Have you ever met people who cannot use their debit or credit cards abroad?
- 78. Exchanged money on the black market?
- 79. Returned home with leftover foreign currency?
- 80. @SDWOUTERS Dealt with currency controls?
- 82. @SDWOUTERS Soon you’ll be PAYING banks so they can do risky investments with your money
- 83. @SDWOUTERS Perhaps you & your country don’t really need it…
- 84. But it will help the world a lot if Bitcoin succeeds.
- 85. @SDWOUTERS WHAT can we do with them? HOW do they work? WHY do Bitcoin & Blockchain exist?
- 87. @SDWOUTERS Bitcoin has been running non-stop for 7+ years 160M 434K $150M $105B Transactions Blocks in the blockchain in transactions per day currently Transferred over the blockchain 466M 16M $11B 160K bitcoins transferred over the blockchain Amount of Bitcoins that currently exist Value of all bitcoins companies (indirectly) accept bitcoins
- 88. Money is the tip of the iceberg
- 89. @SDWOUTERS Logical Evolution INTERNET Transfer information BLOCKCHAIN Transfer ownership TEXT IMAGES PROGRAMS VIDEOS MONEY CONTRACTS PATENTS ASSETS
- 90. @SDWOUTERS “Blockchain could disrupt everything”
- 91. @SDWOUTERS THE BLOCKCHAIN is an inefficient database 10 100 1000 10000 7 185 24000 Transactions per second
- 92. Imagine a massive decentralized Dropbox synchronizing 24/7
- 93. But all these banks are investing in blockchains!
- 94. @SDWOUTERS 3 Immutability 5 Open innovation 1 Censorship resistance 2 Decentralization 4 Open access Banks/governments won’t replicate the BlockchainOpen Editability 3 Centralization 4 Interoperability 1 Business innovation 5 Permissioned access 2 Private
- 95. @SDWOUTERS The open Blockchain will create the most value The Blockchain The Internet “Private” Blockchains Intranets >
- 96. If Bitcoin is so great, why isn’t everyone using it? @SDWOUTERS
- 97. @SDWOUTERS ‣ Bitcoin is only 7 years old, it still needs a lot of development. ‣ We have never tried THIS before and it is about MONEY, not info. ‣ It’s like the Internet in the 90s: ‣ People don't get it. ‣ It looks ugly. ‣ We have few use cases. ‣ People don’t see how it will change the world. ‣ Those who are disrupted by it will do everything to stop it. ‣ Mainstream 10 years later ‣ Mass adoption 20 years later
- 98. Some links to help you get started with Bitcoin Get a wallet: (and make a backup!) • Circle Pay / Coinbase / Mycelium (Android) • Circle Pay / Coinbase / Breadwallet (iOS) • Copay / MultiBit HD (Desktop) • Circle Pay / Coinbase / Xapo (Web) • Trezor / Ledger Nano S (Hardware) Get bitcoins: • coinbase.com • bitstamp.net • bitonic.nl Following the bitcoin price: • bitcoinwisdom.com Following Bitcoin news: • reddit.com/r/bitcoin • bitcoinmagazine.com Bitcoin payment processing for businesses: • bitpay.com • coinbase.com Bitcoin statistics: • blockchain.info Bitcoin white paper & info: • bitcoin.org • circle.com • bitwage.com • localbitcoins.com
- 99. Thanks! Want to learn more? @sdwouters WWW samwouters.com [email protected]