A brief introduction on what Bitcoin and the blockchain really are, why they exist, how they work and what we can do with them. Interested in learning more? Check out my website or book me as a speaker: http://samwouters.com/ Twitter: https://twitter.com/SDWouters LinkedIn: https://www.linkedin.com/in/samwouters

1. @SDWOUTERS
& blockchain
bitcoin
#Darefest16

2. @sdwouters
Bitcoin & Blockchain since 2013
Digital Transformation Consultant
at Duval Union Consulting
sam.wouters@duvalunion.com
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. One of many
DISRUPTIVE
PLAYERS

5. “bitcoin is
digital money”
Who has heard of Bitcoin before today?
Positive image? Negative image?
Who fundamentally
understands Bitcoin?

6. Media that predicted The Death of Bitcoin
bitcoinobituaries.com
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

7. "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

8. @SDWOUTERS
A Quick Introduction
To Bitcoin & Blockchain

9. Invented in 2008: a system to eliminate
the need for “trusted” third parties
bitcoin.org/bitcoin.pdf

10. ? ?
? ?
?
??

11. The first thing bought with 10.000 Bitcoins in 2010

12. @SDWOUTERS
Bitcoin’s best days
must be over!
Is worth over
€5 Million today
at €500 per BTC

13. So much value, all for shady digital money?

14. Banks don’t believe Bitcoin can work, but they
are investing in its technology, the Blockchain

15. 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

16. A 5 minute explanation won’t make
you understand why they matter

17. WHAT
can we do with them?
HOW
do they work?
WHY
do Bitcoin &
Blockchain
exist?

18. WHY
do Bitcoin &
Blockchain
exist?

19. Why do digital money transfers take days?

20. Imagine you want to BUILD A BUSINESS
9% FEE?

21. @SDWOUTERS
Financial innovation is held
back by rules and regulations

22. @SDWOUTERS
But this is innovation!

23. Say that to the 40% unbanked adults worldwide…

24. And to the people who pay 5-25% money transfer fees
$175 Billion profit per year for Western Union & co!

25. If you want to send money you have to
WAIT PAY

26. @SDWOUTERS
Yet we can do THIS?

27. @SDWOUTERS
Bitcoin is about more
than global payments

28. We have more debt than can EVER be repaid

29. Currencies are not backed by anything

30. Leading to unprecedented money printing

31. The money in your bank loses value
Inflation Interest>

32. Soon you’ll be PAYING banks so they can
do risky investments with your money

33. If finance is so messed up
why don’t we fix it?

34. Rules are decided behind closed doors

35. Governments are not in charge in the financial world
Governments
Corporates
Banks
National central banks
International central banks
Central bank of central banks
Regulation

36. Resulting in "cosy" relationships between
financial businesses and regulators

37. Banks won’t stop messing around

38. Resulting in "cosy" relationships between
financial businesses and regulators.
We are fighting a never ending flood

39. HOW
do they work?
WHY
do Bitcoin &
Blockchain
exist?

40. Fundamentally different
Transactions Security

41. Transactions Security

42. Money is sent directly between two parties

43. The blockchain is a global “bookkeeping” system
It records who owns
what, and when

44. Transactions are synchronised through the network

45. Every ~10 minutes, they are permanently
recorded in a new block in the blockchain
…

46. How do we SAFELY Record
the transactions so
nobody can change them?

47. Transactions Security

48. 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

49. 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

50. The Bitcoin Blockchain is secured by computing power
from people and companies all over the world

51. “So much energy waste!”
Bitcoin’s ecological footprint is tiny

52. In return for their work, the “miners”
earn new bitcoins and transaction fees

53. They verify the transactions and
add them to the next block in the Blockchain

54. The transactions are permanently recorded in
a new block, linked to the others in a chain

55. When you change a transaction
the link to that block changes as well

56. The network will know that your version
has been messed with and reject it

57. You then need to create a longer blockchain
than the entire network combined

58. The network is 20.000 times stronger than
the top 500 supercomputers in the world

59. 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

60. 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

61. If the vast majority of the network
agrees, the code can be changed

62. But everything
can be hacked
right?

63. Wallets can be hacked if they are not secured,
but the Bitcoin protocol can’t be hacked

64. With over $50M per day in irreversible transactions,
it is the biggest target for hackers on the Internet

65. What does this
technical stuff
mean for me?

66. You can send payments
without encryption
and on any network,
without risk

67. Send & receive payments
anywhere in the world.
Nobody can stop it

68. Bitcoin is open to any participant
without identification or authentication

69. No criminal wants to leave permanent evidence

70. The power is in the hands of the user,
we want to protect and use our money

71. Anyone can develop new applications
for Bitcoin, without permission

72. internetlivestats.com/internet-users/
The same force driving internet innovation for 20 years

73. Creates huge value for consumers, economic growth, jobs

74. I don’t really
need Bitcoin
Until your life is
international

75. Have you ever…
Transferred money internationally,
with a large fee or a terrible exchange rate?
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. Dealt with currency controls?

81. Or Hyperinflation?

82. Perhaps you & your country don’t really need it…

83. But it will help the world
a lot if Bitcoin succeeds.

84. WHAT
can we do with them?
HOW
do they work?
WHY
do Bitcoin &
Blockchain
exist?

85. Sending money
0.00000001 BTC1 BTC

86. Is it accepted anywhere?
Antwerpen
Gent
Arnhem
Buenos Aires
Amsterdam
Montreal

87. Money is the
tip of the iceberg

88. Logical Evolution
INTERNET
Transfer information
BLOCKCHAIN
Transfer ownership
TEXT IMAGES PROGRAMS VIDEOS
MONEY CONTRACTS PATENTS ASSETS

89. Everledger stores unique info and ownership
of (900k) diamonds on the Bitcoin blockchain
everledger.io

90. “Blockchain could disrupt everything”

91. @SDWOUTERS
THE BLOCKCHAIN is an
inefficient database

92. 3
Censorship
resistance
2
Immutability
5
Open
Access
Decentralization
4
1
Open
Innovation
Banks/governments won’t
replicate the Blockchain

93. But all these banks are investing in blockchains!

94. Private blockchains are like every company
building their own Dropbox service
>The Internet

95. Both will have their own uses, but the Open
Blockchain will create the most value

96. If Bitcoin is so great,
why isn’t everyone using it?

97. ‣ Bitcoin is only 7 years old, it
still needs a lot of development.
‣ This has never been tried
before and it is about MONEY,
not information.
‣ Bitcoin is 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!)
• Coinbase/Circle Pay/Xapo/Mycelium (Android)
• Coinbase/Circle Pay/Xapo/Breadwallet (iOS)
• MultiBit HD (Desktop)
• Coinbase/Circle Pay/Xapo (Web)
• Trezor/Ledger Nano S/KeepKey (Hardware)
Buying bitcoins:
• coinbase.com
• bitstamp.net
• bitonic.nl
• localbitcoins.com
Following the bitcoin price:
• bitcoinwisdom.com
Following Bitcoin related news:
• reddit.com/r/bitcoin
• coindesk.com
Bitcoin payment processing for businesses:
• bitpay.com
• coinbase.com
Bitcoin statistics:
• blockchain.info
Bitcoin white paper & info:
• bitcoin.org

99. Thanks!
Want to learn more?
WWW
@sdwouters
sam.wouters@duvalunion.com
samwouters.com