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Kurt Thams - Bitcoin


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Kurt Thams - Bitcoin

  1. 1. BitcoinandPayment InnovationKurt Thams@thams
  2. 2. Visible because of huge growth Appreciated 36,000 percent in 2.5 years Total value of coins: $1.2 billion
  3. 3. Open systems are attractive Precisely because they are open
  4. 4. First wave of systems restate thefunctions of fiat money Currency Exchanges Securities Markets Gambling Facilities
  5. 5. Second wave is infrastructure Online Merchant Services Vaults Other security measures
  6. 6. Where would Bitcoin thrive first? Where other payment infrastructure is lacking Where money controls or debasement hinder commerce
  7. 7. Will Bitcoin be adopted? Will it take root quickly enough to gain traction?
  8. 8. Payment System Taxonomy Push or Pull? Real-time? Anonymous? What is the trust model?
  9. 9. Bitcoin is: Push Real-time Semi-anonymous No trusted parties
  10. 10. Two-sides problem Merchants needs payers or they won’t participate Payers need merchants or they won’t participate
  11. 11. What happens when: Payments are nearly-free? Payments are irreversible? Payments are instant?