Why bitcoin will change everything
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Presentation on far reaching impact of bitcoin and distributed technology @ JayW Salon May 2014

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

By Tom Ding (Founder @ Coinify)

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Why bitcoin will change everything Presentation Transcript

  • 1. Why Bitcoin will change everything Tom Ding, Founder @Coinify! yourstruly.dinglei@gmail.com! http://angel.co/coinify!
  • 2. because history is about shift in power structure
  • 3. They say Bitcoin … •  Has no intrinsic value! •  Is not a legal tender! •  Doesn’t solve any problem!
  • 4. (1) Money as a service! Bitcoin is Dollar 2.0!
  • 5. 2000 years ago … Chunfa – founder of ChowFarm, producing vegetables and crops ! Bao - Technical nerd. Full-stack Hunter!
  • 6. Balanced diet, Happier life
  • 7. Value Exchange of Three parties
  • 8. Life simplified with cows
  • 9. Yet, Cow get ill
  • 10. Let’s tokenize Cow 100 HuangDollar = 1 Cow! =!
  • 11. Aha moment: Villagers never redeem cow. Let’s print more HuangDollars
  • 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. Worldwide inflation
  • 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. (2) Permission-less Innovation!
  • 16. Innovation accelerates with decentralization 1430s: Press! 1980s: Personal Computer! 1984: 3D Printing - manufactur ing! 1989: Web! 2000s: Blog/ Twitter! 2009 : Bitcoin – finance!
  • 17. How can cryptocurrency help? ❖  Decentralized financial innovations - e.g. pool insurance ! ❖  5th protocol: Value exchange layer (e.g. Uber)! ❖  MaidSafe: Decentralizing Internet!
  • 18. (3) Social contract and enforcement!
  • 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. Cryptocurrency enabling new org structure ❖  Why: Principal-Agent-Customer! ❖  Distributed software foundations! ❖  Charity / Investment Vehicle! ❖  Autonomous public service! ❖  Crowd Jury!
  • 21. Recap – 3 layers of innovation Money as a service: Bitcoin & Altcoins! Permission-less innovation: " Maidsafe, Counterparty! Social contracts: Ethereum !
  • 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. Questions? ! ! Email me at yourstruly.dinglei@gmail.com!
  • 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. 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. 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) !