A high-level presentation addressing the generation and management of data in the context of cyber security solutions - today largely "cyber security theater". - The presentation is making a case against the use of databases for information addressing the rights of the individual.

1. Financial Sector Cybersecurity
Paradigm shift towards a Global and
Real Digital Economy
Christian Kameir
Sustany Capital
2024

2. Collaboration
The success of your economy depends on it.

3. Language
The primary technology for collaboration.

4. ₵60
₦7,000
$5
COLLABORATION PROBLEM

5. Cooperation
Economies are agreements over incentivized collaboration.

6. Ledgers: Records of Agreements
FINANCE

7. HISTORY OF FINANCIAL TECHNOLOGY
Clay Tables Paper Bytes in DBs
3550 B.C. 100 A.D. 1960-2024

8. BEARER INSTRUMENTS - PEER-TO-PEER TRANSACTIONS

9. CASH UTILITY/VELOCITY
1960 1970 1980 1990 2000 2010 2020
10x
8x
6x
4x
2

10. Debit Cards 48%
Credit Cards 25%
ACH 16%
Checks 8% 3%
Cash 3%

11. 96% 74% 79%
29%
USD
EURO
OTHER
Americas Asia Europe All Others
LANGUAGE OF VALUE ACROSS BORDERS
$ $ $
€

12. Success of economy depends on efficient collaboration.
The fundamental technology for collaboration is language.
Human societies functions on incentivized collaboration: cooperation.
The primary incentive technology are currencies.
Axioms

13. Unit Of Account
Store Of Value
Medium Of Exchange
MONEY

14. UNIT OF ACCOUNT

15. FINANCIALIZATION & STORES OF VALUE
Checking
Accounts
Cash
$53t $46t $21t
$18t
$

16. MEDIUM OF EXCHANGE
01100010 01100011 00110001
01110001 01100001 01111010
01100011 01101101 00110111
00110110 00110011 00111000
00110101 00111000 01101110
01101011 01101010 00110010
01100100 01101010 00111001
00111000 00110110 01100101
01110100 01100001 01101010
01110110 00110110 01110111
01110001 01110101 01110011
01101100 01110110 00111000
01110101 01111000 01110111
01100011 01111010 01110100
01010100 01001000 01010010
01000101 01000101 00100000
01010101 01010011 00100000
01000100 01001111 01001100
01001100 01000001 01010010
01010011 00100000 01000001
01001110 01000100 00100000
01010011 01000101 01010110
01000101 01001110 01010100
01011001 00100000 01001111
01001110 01000101 00100000
01000011 01000101 01001110
01010100 01010011

18. Currency ./. Money

19. BLOCKCHAIN
≠
LEDGER / DATABASE

21. TRANSACTIONS
EXCHANGE
FOR PRODUCT OR
SERVICE
(PAYMENT)
EXCHANGE
FOR SHARED INTEREST
(EQUITY)
LOAN
&
CURRENCY CREATION
DONATION

22. PUBLIC BLOCKCHAIN ENTRY
Hash 0xf132e7bd8c0fc07326f5893ca1074ff5197dde66b5dd6ee53a27bb2ab2eb34cb
Timestamp Dec-17-2022 01:04:23
From 0x974caa59e49682cda0ad2bbe82983419a2ecc400
To 0xeca0a6584a85082a26caf29561680639128298fb
Amount 0.042595 Ether ($50.02)
Fee 0.000305198083197 Ether ($0.36)

23. Fintech?
Employees 26,500 64
Transaction Volume $936B $1.6T
Revenue $21.4B $6.8B
YoY Revenue Growth $21% 2,064%
Market Cap $302B $316B

24. DECENTRALIZED FINANCE

25. Top 10 DeFi Use Cases (in billions)

26. Velocity and Use Case of Stable Coins
TTL 24h Volume $48,458,957,842

27. Employees 1,030 90
Loan Originations $10.4B $14B
Income $18M $169M
Market Cap $1.4B $3.8B
Age 16 years 4 years
Centralized vs. Decentralized

28. Centralized vs. Decentralized
Employees 1,250 36
Trading Volume $936B $960B
Revenue $3.08B $174M
Market Cap $86B $10.9B
Age 10y 3y

29. Collateralized Debt Protocols
50Ξ
ETH 50
MCR 145%
VAPR 2.25%
22,000 DAI

31. Digitization Era
Digital Data Storage
Hardware
“Web 1&2"
Digital Information
Transfer
Cloud Infrastructure
40 years
TECHNOLOGICAL PARADIGM SHIFTS
VALUE
CAPUTRE
“Web 3”
Digital Value Transfer
Decentralized Infrastructure
20 years 10 years

32. 0%
10%
20%
30%
40%
50%
60%
70%
80%
0
1000
2000
3000
4000
5000
1990 1995 2000 2005 2010 2015 2020
ADOPTION AT VERY EARLY STAGES
Internet
users
in
millions
1.8% of global internet users participate in crypto today
Percentage
of
global
internet
user
adoption

33. 12 US States have implementing
Digital Drivers Licenses with 20
more pending
Europe:
Digital Identity Wallet
(2024)
FORCING FUNCTIONS TO ADOPTION
STABLE COINS
GOVERNMENT
MANDATE
CYBER
SECURITY
DIGITALLLY-NATIVE
CREDENTIALS
Legacy database solutions
will be phased out for
cryptographically-secured
systems
Several governments issued
mandate to move some or all
government-related functions to
blockchain-based solutions
Stablecoin market cap exceeds
$137B
Stablecoin 90x velocity
vs. 1.1x for US Dollar
84 central banks investigating;
banks responsible for 20% of
world population launch ready
(2025)
Forcing function:
Bank of China is currently rolling
out CBDC
CBDC

34. CYBER SECURITY THEATER

35. FORCING FUNCTION: DIGITALLY-NATIVE CREDENTIALS
Cryptographically Stored Driver’s licenses and State IDs
P2P Encrypted Data Exchange with Identity Reader
Users do not show, or hand over phone

36. MASSIVE MARKETS
Over $700T of asset value will be represented by
digital bearer instruments.
Gold
$11T
Crypto Market Cap: $1.9t.
- Bitcoin: $982b
- DeFi: $136b
Currencies $90T
/ MASSIVE FRICTION

37. COST OF LEGACY FINANCE
4% Of Household Income (USA)
6% Added Cost to Products & Services
7-10% Debasement of Currency

38. TECHNOLOGY DEBT & THE REAL ECONOMY
Finance: $23 trillion
Cybercrime: $8 trillion
Global GDP: $105 trillion

39. We have not built the World Wide Web yet!
Decentralized Applications
Browsers & Wallets
On & Off-Chain Services
Decentralized Naming
& Addressing
Blockchains
NET

40. REVERSING THE WEB’S TPOLOGY
Data
Sources
Profiles
Personas
Individual
Tens of thousands
Thousands
Dozens
Single

41. SUPPLEMENTALS

42. Commercial Bank Currency
$2.3t
6%
Bearer Instrument
Peer-to-Peer
Anonymous
Fees: 0
$40.5t (x)
94%
Ledger-Based
Intermediated
“KYC"
Fees:~3.78%
Central Bank Currency Non-Bank Currency
$18.6/x
x/M1
Account-Based
Intermediated
“KYC"
Fees: vary

43. Bitcoin Use Cases
Speculation
Store of Value
Transaction / Payments

44. Network Stable
Commodity Governance

46. CAPITAL FORMATION

48. Owners
Investors
Users
Operators
Suppliers
Promoters
D A O

49. Corporation vs. Collaboration
Employees 255,351 9
Transaction Volume $2.3T $172T
Revenue $123B $7.6T
YoY Revenue Growth $3.5% 185%
Market Cap $489B $370B

50. WHO WHY
WHEN HOW
BLOCKCHAIN/CRYPTO ADOPTION?

52. US Dollar (64%)
Euro (20%)
Yen (6%)
Renminbi (2%)
Pound (4%)
Australian $ (2%)
Canadian $ (2%)

53. USA
53%
WORLD
47%

54. Further Reading & Courses