Download - The Future of Bitcoin
Bitcoin Protocol as a Disruptive Technology
April 2, 2013
Jonathan Nafarrete - 10 Minute Agency PitchINTERNAL
What is Bitcoin?
• First decentralized peer-to-peer payment network and digital currency !• Users send and receive bitcoin using wallet software
!• Bitcoin uses cryptography to control the creation and transfer of
money
NOT about bitcoin = Digital currency !YES about Bitcoin = Peer-to-peer payment system
That’s it! !You now know more than 99% of the world
Maybe
!
Bitcoin has been 300 years in the making… !
• Elliptic curve key algorithms • Hash functions • Digital signatures • Hash cash scheme as proof of work • Peer to peer networking
Bitcoin is one of the greatest technology inventions of the past decade. !
Never before in human history have humans possessed a form of money which could not be confiscated, counterfeited, inflated, and could be sent across the world for practically nothing.
And you can’t uninvent Bitcoin
Just remember
Bitcoin is like cash for the Internet !You transfer it to and from an address !Math protects and secures everything
I’ve heard things…
Hacked Lost Stolen Crashed Dead
These are still the early days for Bitcoin !!Amateur hour is almost over
2010!!2011!!2012!!2013!!2014
We’ve seen this before
Near Term Growth Risk for Bitcoin
• State sponsored cyber attack • Restrictions/capital control
Global Bitcoin computing power 256 times faster than top 500 supercomputers combined
• Regulation/Classification
So why are some people so passionate about Bitcoin?
Real Problems !
• Consumer data protection • Lack of trust in banks • Government monitoring • Cyprus / Venezuela / Brazil / Ukraine • Capital controls (China) • Remittance friction
Real Opportunities !
• Limited bitcoin supply (21 M) • Unbanked internet (2.5 Billion) • Network effect growth (70k) • International / e-commerce
So what do I see in the future?
In the past 3 months we have seen…
2014
• Browser of Bitcoin • Embedded Tipping Links • Multiple Recipient Payments • Shop via Print/Video • Insurance Backed Deposits • Micropayments (<$.99) • POS Support
Lord&Taylor
2015
• Bitcoin ETF • Wearables • Crowdsourced Funding / IPO • Smart Contracts / Notary Service • Paywall / Continuous Payments! • Ala Carte Entertainment - Netflix • Virtual World Payments (VR)
The Way Future
• Machine Payments • Decentralized Autonomous Corporation
Fun Fact !Cryptocurrency dates back to the 13th Century when the Knight’s Templar used coded ciphers to transfer money between cities