We want to create a global, stable and non-volatile digital currency in coexistence with other currencies.
It will EMPower the people to truly own their money and maintain their purchasing power through the use of open decentralized peer to peer digital currency platform (Blockchain).
Development will be non-profit, donation funded (no ICO), open-sourced to minimize conflict of interests and ensured that it is genuinely owned by the people.
Bitsafe Coin Project presented at TheBlockchainSPIRIT Hackathon
1. Bitsafe™ Coin
Global Stable Digital Currency for the Human Civilization
Presented at TheBlockchainSPIRIT Hackathon at NTU
29-30 June 2018, Singapore
2. Project description
Bitsafe™ Coin Project
We want to create a global, stable and non-volatile digital currency in coexistence with
other currencies.
It will EMPower the people to truly own their money and maintain their purchasing
power through the use of open decentralized peer to peer digital currency platform
(Blockchain).
Development will be non-profit, donation funded (no ICO), open-sourced to minimize
conflict of interests and ensured that it is genuinely owned by the people.
Team EMP
Naing Moe Aung
Goh Ming Xiu
Eddy Lim Qing Yang
Yap Boon Peng
3. Two Key Hypothesis
1. Blockchain
Technology is at a
very early stage
thus we will focus
on protocol level3
4. Two Key Hypothesis
2. THE BEST proven use
case of Blockchain
Technology is
decentralized peer
to peer digital
currency!4
5. CONTEXT OF THE CURRENT
ECONOMY
Challenges with the current financial system
o High Transaction Cost
o Delayed Transfers
o Developing Markets
High Inflation
Currency Devaluation
Currency Demonetization
o Financial Inclusion and Building
a more inclusive Market
Economy
5
6. Stability: General inflation rate in 2017
UK 3%
Japan 1%
Russia and brazil 7%
2% 4%
Turkey
12%
5%
9% difference in inflation ratesTarget rates
Countries with more than 3%
inflation rate need more stability
7.
8.
9.
10.
11.
12. Satoshi Nakamoto had
embedded this 2008-2009
Financial Crisis Headline
in the First Block (Block #0
or Genesis Block of
Bitcoin)
13. 13
Invention of Bitcoin (the first
application of Blockchain
Technology) and Alternative
Crypto Currencies!
13
In Response to those crisis
14. 14 ADD A FOOTER MM.DD.20XX
Chief of IMF
International Monetary Fund
Christine Lagarde
15. PROBLEMS
Issues with the current
cryptocurrencies
o Most cryptocurrencies are too volatile
=> They cannot be used as a day to
day transaction currency
=> They CANNOT be used to store
stable and predictable value
16. Our Idea
o Create a stable digital currency that
is truly owned and managed by the
people of the world for greater good
o Have a functioning alternative
currency that co-exists with other
currencies MM.DD.20XX
17. OUR IDEALS
o Inspired by Satoshi Nakamoto, creator of Bitcoin
(solving problems instead of self interest)
o The best proven use case for blockchain
technology
o An asset purely for the public good, giving people a
choice not to lose their purchasing power
18. OUR IDEALS
o Utilize shared interest, create value for everyone
o Project leaders should practice removal of self-interest and
working for the common global good (human civilization)
o Balance of Power. Diversity in contributors, a stable global
digital currency that is not dominated by any group
(e.g. nationality, ethnicity, wealth level)
o Co-exist with existing currencies
19. Bitsafe™ Coin
The Ideal Product: Features
Practical ● Global Digital Currency
● Stable and Non-
depreciating
Secure ● Safe and Secure
Efficient ● Low Transaction Cost
● High Transaction Speed
Owned by
All
● Decentralized and
Peer-to-Peer
● Good Governance
20. Key Points
o Project MUST be an open source
o Non-profit, no fund raising from investors (no ICO)
o Funded by donation only
o Robust governance framework to ensure alignment of
common interests and shared responsibilities
o Utilize best practices and lessons learned from existing
cryptocurrency platforms
21. Unique Selling Points of Bitsafe™ Coin
Three key factors that make Bitsafe™ Coin different from
other existing stable crypto currencies.
1
Absolute focus on common
public goods
- Addressing real pressing issues
(volatility and inflation)
- No venture funding (to minimize
conflict of interest)
- Donation based (No ICO)
- Grassroot engagements
- Owned by all people of the world
2
Win-win Mindset
- Peaceful and legitimate
co-existence with other
existing currencies
- We are not out there to
destroy other currencies
3
- Lessons learned from the past
and current cryptocurrency
platforms
- Involvement of the best possible
minds and talents to formulate
innovative approaches and
solutions
- This project is open to anyone
who want to contribute
Open-minded and learning
from the best
22. Q4 2018 Brainstorming
Assemble keen individuals
from different backgrounds
Q2 2019 Iterate and Learn
Announce a detailed plan/roadmap
for the public to reiterate
(ongoing throughout)
Q2 2020 R&D
Research & Development
Q1 2023 Deployment and Go LIVE
Ongoing monitoring,
feedback loop and
nurturing of good
governance
TIMELINE