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bitcoinconfny14

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Steve beauregard slides Steve beauregard slides Presentation Transcript

  • BITCOIN MERCHANT ON-RAMP Steve Beauregard
  • Steve Beauregard, Founder & CEO FIAT AND REAL CURRENCY CENTRALIZED DIGITAL CURRENCY DIGITAL CURRENCY Amazon Coins Peercoin Ripple (MintChip) (Auroracoin) Bitcoin Litecoin Dogecoin Worldcoin NXT DECENTRALIZED
  • Steve Beauregard, Founder & CEO DISTRIBUTED CENTRALIZED DECENTRALIZED
  • Steve Beauregard, Founder & CEO HYPE GOOD & BAD MAKES HEADLINES CRYPTO CURRENCIES BITCOIN HAS EVOLVED BEYOND ILLICIT USES SUCH AS “SILK ROAD” AND EARLY FAILURES LIKE “MT. GOX, BIPS, AND OTHERS” THAT WERE ROBBED OR MISMANAGED
  • Steve Beauregard, Founder & CEO
  • Steve Beauregard, Founder & CEO WHAT SCARES MERCHANTS AWAY? • PRICE VOLATILITY • LIQUIDITY CONCERNS • REPUTATION RISK • SECURITY RISK • SCALABILITY • OPERATIONAL IMPACT • SUPPORTABILITY • CANNIBALIZE EXISTING SALES? • FEAR THE UNKNOWN ! ! ! I BELIEVE IN HONEST MONEY: GOLD, SILVER & BITCOIN
  • Steve Beauregard, Founder & CEO F.O.M.O. FUELS ADOPTION THE ONLY FEAR MERCHANTS SHOULD HAVE IS F.O.M.O. “FEAR OF MISSING OUT”
  • WHAT ENCOURAGES ADOPTION? • unstable fiat currencies • smartphone penetration • payment friction • long remittance lines • coin ATM machines • online & retail merchants • high transaction fees of alternatives
  • WHAT IS DRIVING ADOPTION? The CROWD is disrupting established incumbents peer-to-peer
  • THE FUTURE OF TRANSACTION DIGITAL CURRENCY WILL DO FOR FINANCIAL TRANSACTIONS WHAT EMAIL DID FOR COMMUNICATION
  • CREDIT CARDS ARE TARGETS FOR FRAUD The major card networks are pushing payment companies to upgrade to EMV or “chip card” compatible points of sale by 2015. NO CREDIT CARD NO LOVE ! ! !
  • Steve Beauregard, Founder & CEO CONSUMERS SHOULD BE REWARDED FOR SHOPPING … NOT CHARGED MORE TO OFFSET EXPENSIVE CHARGE-BACKS. SHOPPING SITES VICTIMIZED & GAMED
  • MERCHANT CASE STUDIES 800 orders in 24 hours $130K net new customers $500,000 orders in 1st we 83,683 daily transactions (Nov. 2013) 5% of all orders are with Bitcoin better for Bitcoin Credit Card PayPal 0% 2.7% 2.7%FRAUD 
  • Steve Beauregard, Founder & CEO NO MIDDLE MAN NO FRICTION WON’T ACCEPT RECURRING CHARGES LARGER AVERAGE ORDER VALUES PAY AS YOU GO BITCOIN STORED VALUE ALT-COINS = TRANSACTIONS UNIQUE BUNDLING OPPORTUNITIES
  • Steve Beauregard, Founder & CEO BY 2015, MOBILE SHOPPING WILL ACCOUNT FOR $163 BILLION IN SALES WORLDWIDE. BITCOIN IS EXPECTED TO GROW AS MOBILE PAYMENT TRANSACTIONS RISE! GLOBAL CONSUMER MOBILE SHOPPING
  • Steve Beauregard, Founder & CEO 1/3 OF KENYANS ALREADY HAVE A BITCOIN WALLET REMITTANCE IS KENYA’S 4TH LARGEST SOURCE OF FOREIGN EXCHANGE OPPORTUNITY EMERGING COUNTRIES 93% HOUSEHOLDS OWN MOBILE
  • CONSUMER PROTECTION Account for the interests and needs of consumers, particularly in developing countries
  • DIGITAL MONEY IS INFORMATION EXCHANGE VALUE SECURITY PEER-TO-PEER TRUST EXISTS WITH TRANSPARENCY
  • WHAT STEPS DO I TAKE TO ACCEPT COINS? 1. Review Your Checkout Process – Shopping Cart Plug-in, Gateway or Custom – Hosted vs. whitelabel Integration – Simple Button or URL link to Form 2. Signup for a merchant account 3. Upload company KYC documents 4. Select currencies Bitcoin, Litecoin, Dogecoin 5. Enter bank routing or wire details 6. Determine Digital Currency / Fiat Splits 7. Test and GO Live
  • SHOPPING CART PLUG-IN EXAMPLE
  • FORMS CHECKOUT EXAMPLE
  • HOSTED INVOICE EXAMPLE
  • MERCHANT DASHBOARD
  • TRANSACTION HISTORY
  • CREATING FORMS OR DONATION BUTTONS
  • HOW DOES THIS AFFECT OPERATIONS? 1. Unique Payment Differences – Under & over payments – Non payments & double payments – Paid to wrong address 2. Returns and refunds 3. Support desks need training 4. Dashboard Integration 5. Must be very transparent – Enthusiast demand it
  • WHAT ABOUT THE IRS TAX GUIDANCE? 1. Bitcoin is property and subject to ST & LTCG 2. Consumer must now track basis of coins 3. What companies will solve this problem? 4. What about coins held by merchants? 5. What will be the impact to shopping? 6. What about international purchases
  • Steve Beauregard, Founder & CEO BITCOIN: MERCHANT ON-RAMP QUESTIONS ?
  • THANK YOU! Steve Beauregard INFO@GOCOIN.COM