Bitcoin Symposium am 3. März 2015, Coyno - Unternehmenspräsentation.

1. THE BITCOIN BOOKKEEPER

2. FIRST P2P DIGITAL CURRENCY
FOR THE GLOBAL INTERNET ERA

3. “Bitcoin is exciting me
because it shows how
cheap transactions
can be”
- Bill Gates

4. “Bitcoin is driving a revolution
when it comes to inventing a
new currency”
- Richard Branson

5. 100.000 TRANSACTIONS PER DAY
$400M OF VC INVESTMENT
7.9M WALLETS

6. DOING TAX REPORTS IS CUMBERSOME
ANONYMITY MAKES OVERVIEW DIFFICULT
NO TOOL FOR BOOKKEEPING

7. THE COYNO APP

8. WALLET ANALYTICS
AUTOMATIC BOOKKEEPING

9. PERSONAL FINANCE ANALYTICS
TAX REPORTS
PRIVATE USER

10. WALLET ANALYTICS

11. BOOKKEEPING
OVERVIEW & CONTROL TOOLS
MERCHANT

12. AUTOMATIC BOOKKEEPING
PAYMENT TRACKING
BOOKKEEPING
TAX REPORTS

13. RECORD-KEEPING TODAY
CUSTOMER
ISSUES PAYMENT
BOOKKEEPER
PARSES TX STATEMENTS
RECORDS META-DATA
CUSTOMER BANK
CONFIRMS INTERNALLY
RETAIL BANK
CONFIRMS
EXTERNALLY
MERCHANT
RECEIVES PAYMENT
MERCHANT BANK
CREDITS MERCHANT

14. RECORD-KEEPING TOMORROW
CUSTOMER
ISSUES PAYMENT
BOOKKEEPER
PARSES TX STATEMENTS
RECORDS META-DATA
BLOCKCHAIN
TX CONFIRMATION
MERCHANT
RECEIVES PAYMENT
?

15. RECORD-KEEPING TOMORROW
CUSTOMER
ISSUES PAYMENT
BOOKKEEPER
PARSES TX STATEMENTS
RECORDS META-DATA
BLOCKCHAIN
TX FULFILLED
MERCHANT
RECEIVES PAYMENT

16. THE MARKET

17. MARKET SIZE
€790M - €2.1B in 2019
See appendix for market estimation calculation.
Market for Bitcoin handling software estimated to be:

18. COMPETITORS
BOOKKEEPINGWALLET ANALYTICS
Tapeke

19. THE PLAN

20. BOOKKEEPER v2
FINANCIAL CONTROL TOOLS
INVOICING
BOOKKEEPER
ACCOUNTING
TAX REPORTS
MVP
WALLET ANALYTICS
PRODUCT PLAN

21. THE BITCOIN BOOKKEEPER
BOOKKEEPING & ANALYTICS FOR ALL YOUR BITCOINS

22. APPENDIX
Visuals credits: @jakecaptive (Flickr), @msgolightly (Flickr), @pagedooley (Flickr), kearneysp (sxc.hu), Anna Simonsson (Flickr), FlatIcons.com,
@tulanesally (Flickr), @oninnovation (Flickr), @gulltaggen (Flickr), @teegardin (Flickr)

23. MARKET ANALYSIS CALCULATION
Two methods to estimate market size
1. Merchant payment processing fees
Merchants pay $48B in fees per year for payment-card use1
. Assuming that blockchain-based technology takes 2%-5% of
that market, it will be a potential market of $960M-$2.4B (€850M-€2.1B). Coyno’s tools will allow a merchant to replace the
payment service provider by using Bitcoin on his own infrastructure.
2. Merchants using Bitcoin
Around 82,000 businesses now use Bitcoin2
. With 8-10% avg. monthly growth in number of businesses accepting BTC3
, the
potential market will be around 3.3M-8M businesses in 2019. Assuming they spend an avg. of €240/year on payment-related
bookkeeping software, potential market size is around €790M-€1.9B (payment processing fees not considered).
1.
SOURCE: http://www.bloomberg.com/news/2014-01-22/bitcoin-targets-giants-visa-to-jpmorgan-with-lower-cost-payments.html
2.
SOURCE: Coindesk “State of Bitcoin Q2 2014 Report”
3.
SOURCE: www.coinmap.com & http://cointerest.org/

24. TECHNOLOGIES
WEB APP
BLOCKCHAIN EXTRACTION HARDWARE INTEGRATION
OUTPUT
MOBILE APP

25. EXAMPLES OF BITCOIN TAX EVENTS
User action... … leads to tax event
Customer pays merchant 10$ worth of BTC Merchant buys 10$ worth of BTC from customer
Merchant sells 20$ worth of BTC for fiat Merchant sells 20$ worth of BTC and possibly
realises gain from investment in BTC
Merchant buys 20$ worth of goods with BTC Merchant sells 20$ worth of BTC to other merchant
and possibly realises gain from investment in BTC
As can be seen, the relevant tax event is not a straight-forward calculation as with fiat currency.
Different jurisdictions require different approaches and techniques for bookkeeping and tax reporting.