Patrick Harding | SVP of Product | Hedera Hashgraph
Jon West | VP of Blockchain Engineering | Thomson Reuters
Patrick Harding, SVP of Product at Hedera Hashgraph, and Jon West, VP of Blockchain Engineering at Thomson Reuters, will take the stage to discuss the future of cryptocurrency micropayments, and the tax and accounting requirements to be expected. Patrick will present a brief history of micropayments and how we got to where we are today. He’ll present a live demonstration of in-browser micropayments, using an open source decentralized application and wallet extension built on Hedera Hashgraph. The micropayments dapp was created as a developer example to demonstrate the fundamentals of building a dapp on Hedera Hashgraph, while showcasing the speed and efficiency of Hedera cryptocurrency transactions which enable practical micropayments.
Jon will be discussing how cryptocurrency micropayments will be treated as taxable events, and accounting for them becomes a business requirement. He’ll explain potential ways businesses might treat distributed ledger technologies (DLTs) in relation to traditional ERP software, and how DLTs will revolutionize financial business dealings globally. Jon will conclude his presentation with a real-world example of utilizing DLTs and cryptocurrency micropayments for government tax remittance purposes, leading to reduced costs and improved efficiency for both businesses and governments.