new entrants and disruptors gareth grobler, founder ice ³ ltd

New entrants and disruptors

Gareth Grobler, Founder ICE³ Ltd

Neo Banking

Traditional banking infrastructure has changed exponentially over the last couple of decades primarily due to the advance of technology and the mainstream adoption of the internet.

Advantages of being a “Neo Bank”

● Build a brand - exit through buy out

● Marketplace lending

● 3rd Party financial watchdogs become trusted services

● Much easier than launching a real bank

rewind 20 years ….

enter Blockchain technology

Computer engineers and scientists have been struggling for over 60 years with what is generally known as the “Byzantine generals problem”. Effectively the issue here is that a reliable computer system must be able to cope with the failure of one or more of its components ie. Sending conflicting information to different parts of the system. In practice this can be illustrated by considering the fact that from a technology perspective, data can be copied and manipulated within its own ecosystem due to centralised control.

In 2008 a protocol solution was developed by a pseudo anonymous programmer/s and aptly named “Bitcoin”, solving this long standing computing problem.

Technology vs. Currency

Bitcoin - The technology bitcoin - The Currency

Non-traditional player pressures

● Non-existent Bitcoin specific regulatory requirements● “Internet Bubble” money flowing in● Decentralised development and marketing● Technology hurdles● Consumer adoption● Highly unfavourable odds

Thinking like a start up

● Lean cost effective development● Leveraging of existing platforms● Thinking outside the box - new solutions to old problems● Bitcoin start ups no different from any other business or

tech start up● New markets (remittance, trading, voting, interbank

settlements, decentralised management applications)

Future of Bitcoin

What is the future of Bitcoin?

What will bitcoin be worth in 2 years time?

for Bitcoin Africa Conference 2015

Gareth Grobler ICE³ LtdTwitter: @R3lb0rgE-mail: GarethG@ice3.com