Why bitcoin will change everything

1,347 views
1,162 views

Published on

Presentation on far reaching impact of bitcoin and distributed technology @ JayW Salon May 2014

By Tom Ding (Founder @ Coinify)

Published in: Technology, Business
0 Comments
2 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
1,347
On SlideShare
0
From Embeds
0
Number of Embeds
713
Actions
Shares
0
Downloads
11
Comments
0
Likes
2
Embeds 0
No embeds

No notes for slide

Why bitcoin will change everything

  1. 1. Why Bitcoin will change everything Tom Ding, Founder @Coinify! yourstruly.dinglei@gmail.com! http://angel.co/coinify!
  2. 2. because history is about shift in power structure
  3. 3. They say Bitcoin … •  Has no intrinsic value! •  Is not a legal tender! •  Doesn’t solve any problem!
  4. 4. (1) Money as a service! Bitcoin is Dollar 2.0!
  5. 5. 2000 years ago … Chunfa – founder of ChowFarm, producing vegetables and crops ! Bao - Technical nerd. Full-stack Hunter!
  6. 6. Balanced diet, Happier life
  7. 7. Value Exchange of Three parties
  8. 8. Life simplified with cows
  9. 9. Yet, Cow get ill
  10. 10. Let’s tokenize Cow 100 HuangDollar = 1 Cow! =!
  11. 11. Aha moment: Villagers never redeem cow. Let’s print more HuangDollars
  12. 12. Sad story of Zimbabwe •  First Dollar: ZWD (1980)! 1.47 USD: 1 ZWD! …….! •  Third Dollar! 1 ZWR = 10 billion ZWN! A 100-trillion-dollar bill, it turns out, is worth about $5.!
  13. 13. Worldwide inflation
  14. 14. Recap " - Money = debt! - Dollar is a technology! - Cryptocurrency is Dollar 2.0: Solving for Principal-Agent risk! Bitcoin / Cryptocurrency! ■  Predefined supply algorithm! ■  Vote by money! Central Bank! ✍  Create money! ✍  Set interest rate & reserve requirement! ✍  NO opt-out!
  15. 15. (2) Permission-less Innovation!
  16. 16. Innovation accelerates with decentralization 1430s: Press! 1980s: Personal Computer! 1984: 3D Printing - manufactur ing! 1989: Web! 2000s: Blog/ Twitter! 2009 : Bitcoin – finance!
  17. 17. How can cryptocurrency help? ❖  Decentralized financial innovations - e.g. pool insurance ! ❖  5th protocol: Value exchange layer (e.g. Uber)! ❖  MaidSafe: Decentralizing Internet!
  18. 18. (3) Social contract and enforcement!
  19. 19. - Thomas Hobbes <Social Contract>! “… that a man be willing, when others are so too, … , to lay down this right to all things; and be contented with so much liberty against other men as he would allow other men against himself.” !Constitution! Laws! Sovereign! Corp! Business Contracts! Non-profit! LLP!
  20. 20. Cryptocurrency enabling new org structure ❖  Why: Principal-Agent-Customer! ❖  Distributed software foundations! ❖  Charity / Investment Vehicle! ❖  Autonomous public service! ❖  Crowd Jury!
  21. 21. Recap – 3 layers of innovation Money as a service: Bitcoin & Altcoins! Permission-less innovation: " Maidsafe, Counterparty! Social contracts: Ethereum !
  22. 22. –Steve Jobs! “Life can be much broader once you discover … Everything around you that you call life was made up by people that were no smarter than you and you can change it, …” !
  23. 23. Questions? ! ! Email me at yourstruly.dinglei@gmail.com!
  24. 24. Thought Experiment 2! If X never invented, given X and Y, would Y be a no brainer? ! Appendix: Evaluating Disruptive Technology Often disguised as cheaper but inferior, or better but too expensive! Thought Experiment 1! Assuming 100% adoption,, would it be a better world? ! Thought Experiment 3: What if it becomes 100x cheaper, AND 100x faster?!
  25. 25. Appendix: Further Resources ❖  Bitcoin-Dev Mailing List ! ❖  JayWSalon BitCoin SIG! ❖  Sillicon Valley Bitcoin Meetup : Every Tue @ Plug n Play! ❖  Stanford Bitcoin Meetup (Palo Alto)! ❖  Ethereum Meetup! ❖  SV Counterparty Meetup (In progress) !
  26. 26. Appendix: Further Resources ❖  Bitcoin-Dev Mailing List ! ❖  JayWSalon BitCoin SIG! ❖  Sillicon Valley Bitcoin Meetup : Every Tue @ Plug n Play! ❖  Stanford Bitcoin Meetup (Palo Alto)! ❖  Ethereum Meetup! ❖  SV Counterparty Meetup (In progress) !

×