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Cryptocurrency lacc-eschipul

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Cryptocurrency - What it Means for Companies and Associations involved in International Commerce - October 22, 2019

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Cryptocurrency lacc-eschipul

  1. 1. 2019 LUXEMBOURG AMERICAN CHAMBER OF COMMERCE ED SCHIPUL, TENDENCI CRYPTOCURRENCY - WHAT IT MEANS FOR COMPANIES AND ASSOCIATIONS INVOLVED IN INTERNATIONAL COMMERCE Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019
  2. 2. “IT IS NO COINCIDENCE THAT THE CENTURY OF TOTAL WAR COINCIDED WITH THE CENTURY OF CENTRAL BANKING.” ― RON PAUL, “END THE FED” You have to finance wars Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019
  3. 3. IT’S ALL ABOUT CONTROL CENTRAL BANK VS CRYPTOCURRENCY • Central Bank • a national bank (or monetary union) • financial & banking services to Gov • runs commercial banking system • enforces monetary policy • issues currency, physical and CBDC (CB Digital Currency) • clearing agent • lender of last resort • Bitcoin cryptocurrency - 2008 • decentralized digital currency • can be sent from user to user on the peer-to-peer bitcoin network • no central bank • no single administrator • no need for intermediaries • no enforcement of monetary policies https://en.wikipedia.org/wiki/Central_bank Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019
  4. 4. (OBLIGATORY VENN DIAGRAM) CENTRAL BANKS VS CRYPTOCURRENCY Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019
  5. 5. WHAT IS CRYPTOCURRENCY IN PLAIN ENGLISH? A. Crypto (unique) B. Blockchain (quantum ledger) C. Smart Contracts A. Scarce object (camera, diamonds, etc…) B. Clipboard to check things in/out (some have more paper) C. Agreements (return it by Friday) Think of it like borrowing from a friend and returning it. Keep it simple. Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019
  6. 6. WHO MAKES (“MINTS”) CRYPTO? • It varies (sorry) • Regular people can “mine” PoW • BTC (Bitcoin) comes from China • Ethereum is from Russia/Canada • Hackers love crypto. So do money launderers. Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019
  7. 7. IS CRYPTO “MADE” OR “ISSUED” • “Proof of Work” (PoW) Lots of compute + energy • Analogy: a human calculating the next digit of pi • “Proof of Stake” (PoS) Given out by the chosen few (like the Fed) • Analogy: Mom and Dad decide the amount of your allowance based on some arbitrary methodology. Just like the Fed. IMPORTANT: DO NOT PASS GO. READ THIS SLIDE AGAIN PLEASE. HINT: IT’S BOTH! Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019
  8. 8. IS IT REALLY ANONYMOUS? • It depends…. • PoW is mostly Anonymous • PoS is not (typically) but may be effectively anonymous over time from a jurisdiction standpoint. • PoS and PoW BOTH bring the world of international banking to the people. • Middlemen who provide no real value will be disrupted • Big Take Away: • You’d rather be “managing money” than “processing transactions” IF YOU DON’T RECALL “POW” AND “POS” GO BACK 1 SLIDE Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019
  9. 9. TETHERCOIN? • Tethercoins are a “Proof of Stake” variation tied to a currency or a “bucket” of currencies • “Stable Coin” is similar to a tether coin with algo stabilization Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019
  10. 10. IS IT ACTUAL CURRENCY? • Not really. More like an “Asset.” • Binance is the Largest Exchange, HK to Malta Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019
  11. 11. SECURITY OR COMMODITY? • A commodity can become a security and vice versa - Heath Tarbert, CFTC Chairman, Oct 22, 2019 OK, got it. Maybe. Huh? Lots of clarity on that one… Source: https://finance.yahoo.com/news/cftc-chairman-commodity-become-security-205207896.html Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019
  12. 12. BENEFITS/THREATS FOR NORMAL PEOPLE • no fees that are legacy and don’t create real value (Schwab now has free trades.) • Anonymous (somewhat at least) • Govt doesn’t know what’s really going on and mostly can’t tax it. No VAT tax! • International off-book transactions already exist. • Taxation? Maybe, maybe not. Check with Al Capone. • Enforcement of monetary policy? Check with the Cartels. • REALITY CHECK: Does ANYONE actually believe Russia-Iran-and-China aren’t doing business despite “international sanctions”? That. Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019
  13. 13. LIBRA • Zuckerberg proposed global currency • Switzerland NGO (proposed) Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019
  14. 14. FRAX • Former Fed Nominee Stephen Moore to Launch a Fractional Reserve-Backed Stablecoin Frax - Fortune Magazine, Monday Oct 21, 2019 Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019
  15. 15. “SMART CONTRACT” EXAMPLES • Elections - issue a token that expires? • Auto adjust value (tethering is an example)? • Adjust interest rate if securitized? • MLM pay multiple people up the chain? • Futures market for athletes and performers (fantasy football for e-sports anyone? They’ve got the GPUs and know tech somewhat) Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019
  16. 16. THIS IS A SMART CONTRACT IN SOLIDITY BASED ON ETHEREUM Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019
  17. 17. POSSIBLE OUTCOMES END OF MONETARY POLICY AS AN ENFORCEMENT MECHANISM Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019
  18. 18. THIS SLIDE LEFT BLANK INTENTIONALLY [REDACTED]
  19. 19. “MONEY NEED HAVE NO INTRINSIC VALUE.” ― JOHN LAW Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019
  20. 20. @eschipul @tendenci Company: www.tendenci.com Slideshare: www.slideshare.net/eschipul Blog: www.eschipul.com Twitter: www.twitter.com/eschipul We just want to change the world as we know it. And we are. Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019 ED SCHIPUL TENDENCI - THE OPEN SOURCE AMS CEO/FOUNDER
  21. 21. INVESTMENT INQUIRIES WELCOME Presentation to www.laccnyc.org by Ed Schipul, CEO, https://www.tendenci.com and https://www.eschipul.com All opinions are that of the author and should NOT be used as investment advice. All Rights Reserved. Further this is a fast moving industry. This is specific, even in opinion, to 10/22/2019

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