Solving the issue of third party trust for decentralised currencies - MetaLair

Editor's Notes

• #2 How would you feel if .... if you could never afford a house, (ii) if you bought a car but never got to drive it (iii) if you spent holiday of a lifetime sitting at home, (iv) if your savings disappeared? This does not happen today generally, but it could happen to you in the future. Let me explain.
• #3 Blockchain currencies are here to stay. Bitcoin is already a highly disruptive decentralised currency. Currently 200,000 retailers accept Bitcoin (globally). But blockchain currencies are not without controversy.
• #4 Exchange from one currency to another is a flawed process. Regularly suffer DDOS attacks, locking users out of the exchange for days at a time Owners of cryptocurrency have lost money where trust in a third party was involved. Potential gains from these types of attack are so attractive that they are quite common, with millions of Dollars' worth of funds stolen in the first two months of this year alone. Exchanges are the weakest link in the ecosystem as they undermine the very benefits that blockchain currencies bring: -Decentralisation -Removal of trust in third parties -Absolute ownership of money Exchanges have gone bust taking users money: O MTGOX: $700 million O BitStamp $5.1 million O Vircurex: $3.6 million The loss of confidence is now stopping the use of bockchain currencies taking off.
• #5 Solution is a decentralised exchange. This is badly needed Many regard a decentralised exchange as the next major milestone in the global adoption of blockchain currencies. Benefits Trustless: trust in third parties not required Users can exchange their currencies directly with one another Decentralised: no one is in charge Secure: money is not stored in a centralised location This means that Direct exchange Exchange is a blockchain Because it is a blockchain, it is watertight
• #6 Many have tried, no one else has completely solved this problem 2 years research into solving the security issues by computer security expert, Johnathan Turrall, JT has worked with a number of prestigious institutions such as Lockheed Martin, BAE Systems, General Dynamics and the British MoD. JT advised on network and security issues to defence and the emergency services. Solution has been studied by a number of academics and industry experts, who have stated that they believe that it will work as intended and will solve the severe problem of trust that hinders access to and use of cryptocurrencies. Currently under development Input and funding sought.
• #7 Johnathan is at the back of room if you would like to talk to him afterwards.