402 - presentation @ mobile:next
TRANSCRIPT
402
Felix Crisan
World Wide Web - Then
World Wide Web - Now
...and in between
Internet Economy
5-7% of global GDP*
(*McKinsey Global Institute report “Internet Matters: The Net’s sweeping impact on growth, jobs and prosperity”, 2011 - 3.4% + own estimation)
“Yesterday is history. Tomorrow is a mystery. Today is a gift. That's why it is called the present.”
Alice Morse Earle
● “Bitcoin may be the TCP/IP of money” (Paul Buchheit)
● “If we remember, 15 years ago if you were doing anything on the Internet you were going to make millions. I think it could be the same with Bitcoin.” (Jered Kenna)
● “Right now Bitcoin feels like the Internet before the browser” (Wences Casares)
Bitcoin - what is it?
● (Crypto)currency/asset● SVA (distributed ledger)● p2p network● Protocol
Bitcoin - origins
● Satoshi Nakamoto○ satoshi = clear-thinking, naka = inside or
relationship, moto = foundation/origin○ paper published in 2008 (http://goo.gl/0CTa8W)
● 2009 - Genesis block○ “The Times 03/Jan/2009 Chancellor on brink
of second bailout for banks”
● Prior work: bitgold, ecash, hashcash, b-money
Bitcoin - solutions
● byzantine generals problem● double spend○ proof of work (theoretic
background laid out in 1997)● ledger access/control○ elliptic curves cryptography
Bitcoin - generalities
● BTC issuing through “mining”, currently 25 BTC/block (halved every 210k blocks)
● max 21 million to be issued ever● 1 BTC = 100 000 000 satoshi● 1 block mined every 10 minutes (avg) ● difficulty adjusted every 2016
blocks
Blockchain
Benefits
● Anonymity/Privacy● Transparency● Speed (the fastest transfer of value
available)● Security
Use Cases
● Escrow● Smart Contracts● Issuing securities● Digital notaries
...or any other proof-of-existence services
● fully automated payments
(Still) Difficulties
FIAT World Crypto World
HERE
Who we are
● Biggest SMS aggregator in Romania (+100MM in 2014)
● Biggest payment gateway in Romania (card & SMS & bitcoin & transfer)
● First (and so far the only) mobile wallet in Romania, launched in 2013
17
402
● Payment Required● HTTP Status code 402● RFC 2616 from 1999
