Kimberley Peter and Michael Schaus: Understanding Bitcoin Currency and Blockchain Technology as a Media System

1. Bitcoin Currency & Blockchain Technology
as a Media System
Understanding
Kimberley Peter and Michael Schaus
Strategic Foresight + Innovation
OCAD University
October 13-15, 2016
Kimberley Peter and Michael Schaus ©2016 . RSD5

2. Kimberley Peter and Michael Schaus ©2016 . RSD5
{ is not }
an in-depth lesson
on, nor prediction
about, Bitcoin or
blockchain; nor is it
advocating adoption
2
DISCLAIMER
{ is }
a set of insights
from research and
application of an
integrated model to
seed scenarios

3. Kimberley Peter and Michael Schaus ©2016 . RSD5
3
CONCEPTS
BACKGROUND CONCEPTS

4. Kimberley Peter and Michael Schaus ©2016 . RSD5
4
BACKGROUND CONCEPTS — MONEY AS TECHNOLOGY
INTRINSIC +
INSTRUMENTAL
VALUE
Barter
INTRINSIC
VALUE
INSTRUMENTAL
VALUE
Gold
INTRINSIC
VALUE
INSTRUMENTAL
VALUE
Convertible fiat
INTRINSIC
VALUE
INSTRUMENTAL
VALUE
Fiat 2.0
GOOD ASSET
1. Money as technology

5. Kimberley Peter and Michael Schaus ©2016 . RSD5
5
“Scrooges big sin was to freeze his money; for money, as all students of it
recognize, is of use only when it’s moving, since it derives its value
entirely from whatever it can translate itself into.
— Margaret Atwood, Payback
BACKGROUND CONCEPTS — DEMURRAGE

6. Kimberley Peter and Michael Schaus ©2016 . RSD5
6
BACKGROUND CONCEPTS — COMPLEMENTARY CURRENCIES
Fureai Kippu
Sectoral Currency
Bristol Pound
Local Currency
Bitcoin
Cryptocurrency
2. Complementary currencies

7. Kimberley Peter and Michael Schaus ©2016 . RSD5
7
RESEARCH
RESEARCH PROCESS

8. Kimberley Peter and Michael Schaus ©2016 . RSD5
8
RESEARCH PROCESS — SCOPE
Toronto community
Global network

9. Kimberley Peter and Michael Schaus ©2016 . RSD5
9
RESEARCH PROCESS — OVERVIEW
ENGAGED
SIX EXPERTS
REVIEWED
LITERATURE
ANALYZED +
INTERPRETED
Understanding context + concepts

10. Kimberley Peter and Michael Schaus ©2016 . RSD5
9
RESEARCH PROCESS — OVERVIEW
ENGAGED
SIX EXPERTS
REVIEWED
LITERATURE
ANALYZED +
INTERPRETED
CONSIDERED IDEAS +
MAPPED AS MEDIA ON TETRAD
EXPLORED WITHIN SYSTEM OVER
TIME USING PANARCHY MODEL
SHARING +
GATHERING INPUT
Understanding context + concepts Development of a research framework

11. Kimberley Peter and Michael Schaus ©2016 . RSD5
10
Technology as leading innovation, hits up
against the slowness of policy innovation.
INSIGHT #1
RESEARCH PROCESS — INSIGHTS

12. Kimberley Peter and Michael Schaus ©2016 . RSD5
11
Some people and groups are early adopters
out of necessity, e.g., remittance payments.
INSIGHT #2
RESEARCH PROCESS — INSIGHTS

13. Kimberley Peter and Michael Schaus ©2016 . RSD5
RESEARCH PROCESS — IDEAS IDEAS
BLACK = Bitcoin
BROWN = Blockchain
Asset (value store) only used as ‘flight to
safety’ and not as a good (medium of
exchange)
Ownership of money
Merchant commerce (B2B/B2C) -
Reduced friction and cost, with
immediacy of transaction
Tangibility of cash
Currency without
borders
Management of balance of
medium of exchange and holder
of value (slows velocity)
Blind following of ‘heat’ of bitcoin
in exchanges, like fiat exchanges
(e.g., terrorist initiated ‘puts’)
An interesting case study along
trajectory of earlier digital currencies
(Liberty Dollar, Chaumian eCash,
Szabo’s Bitgold)
Definitive settlement
of transactions
Banking for everyone
(including criminals)
Safety of value store in
the face of unknown
deflationary decline
Safety of storing and
transacting in bitcoin over
being tied to central banking
systems (applies to individual,
businesses and governments)
Control over and
access to funds
Financial services
shouldering the risk
of bitcoin-related
transactions
Knowledge of money and
where it comes from
Transaction reversal
Bricks & Mortar
stores
Monoculture/
monocurrency
US Treasury Bills
as a safety net
Forms of digital payment that support
centralized banking structures
(e.g., Paypal, Apple Pay, Google Wallet)
Traditional centralized
stock exchanges
Current regulations and
compliance policies for
existing B2B interactions
Online shopping
and trade
12

14. Kimberley Peter and Michael Schaus ©2016 . RSD5
Anonymity
(pseudonymity)
of transactions
Intimacy of transactions
P2P Exchange
(removes third party
intermediaries)
Policy and freedom of pre-Internet
Web 1.0 days
Upside of barter (robust sense of
shared value in the moment +
open opportunities of digital
market
Opportunism tipping the balance
away from real value to empty or
misguided messaging and products
Tangibility of risk
(materiality in the area of
investment)
Innovative potential in
value-yielding businesses
and products
Maxxing out utility
of investment
Seeking ‘Breach
opportunities’ (Increased
incentive to destabilize reliability,
stability, pseudonymity afforded
by blockchain)
Business/data
monopolization by big
Internet companies
Trust for access
Thinking through the
incentive dynamics
unique to any system
Evolution of the Internet
(birth of IoT, new business
models, access and usage/
citizens of the Internet
Innovation
(and accelerates it)
Dependency on technology
(reliability and uptime)
Decentralized power
of issuance
Transactional trust
(math as contract)
Security of transactions
Internal integration
and communication
Decentralized activism
(on the blockchain)
Middlemen
Need for 3rd party in
transactional
relationships
Face-to-face social
engagement
Obsessive security
Oppressive
government controls
RESEARCH PROCESS — IDEAS IDEAS
BLACK = Bitcoin
BROWN = Blockchain
Asset (value store) only used as ‘flight to
safety’ and not as a good (medium of
exchange)
Ownership of money
Merchant commerce (B2B/B2C) -
Reduced friction and cost, with
immediacy of transaction
Tangibility of cash
Currency without
borders
Management of balance of
medium of exchange and holder
of value (slows velocity)
Blind following of ‘heat’ of bitcoin
in exchanges, like fiat exchanges
(e.g., terrorist initiated ‘puts’)
An interesting case study along
trajectory of earlier digital currencies
(Liberty Dollar, Chaumian eCash,
Szabo’s Bitgold)
Definitive settlement
of transactions
Banking for everyone
(including criminals)
Safety of value store in
the face of unknown
deflationary decline
Safety of storing and
transacting in bitcoin over
being tied to central banking
systems (applies to individual,
businesses and governments)
Control over and
access to funds
Financial services
shouldering the risk
of bitcoin-related
transactions
Knowledge of money and
where it comes from
Transaction reversal
Bricks & Mortar
stores
Monoculture/
monocurrency
US Treasury Bills
as a safety net
Forms of digital payment that support
centralized banking structures
(e.g., Paypal, Apple Pay, Google Wallet)
Traditional centralized
stock exchanges
Current regulations and
compliance policies for
existing B2B interactions
Online shopping
and trade
12

15. Kimberley Peter and Michael Schaus ©2016 . RSD5
RESEARCH PROCESS — IDEAS Media Tetrad
Kimberley Peter and Michael Schaus ©2016 . RSD5
McLuhan, M., & McLuhan, E. (1988).
Laws of media: The new science. Toronto: University of Toronto Press.

16. Kimberley Peter and Michael Schaus ©2016 . RSD5
What does the
media, or technology,
ENHANCE?
RESEARCH PROCESS — IDEAS Media Tetrad
Kimberley Peter and Michael Schaus ©2016 . RSD5
McLuhan, M., & McLuhan, E. (1988).
Laws of media: The new science. Toronto: University of Toronto Press.

17. Kimberley Peter and Michael Schaus ©2016 . RSD5
What does the
media, or technology,
ENHANCE?
RESEARCH PROCESS — IDEAS
What does the
media, or technology,
RETRIEVE?
Media Tetrad
Kimberley Peter and Michael Schaus ©2016 . RSD5
McLuhan, M., & McLuhan, E. (1988).
Laws of media: The new science. Toronto: University of Toronto Press.

18. Kimberley Peter and Michael Schaus ©2016 . RSD5
What does the
media, or technology,
ENHANCE?
RESEARCH PROCESS — IDEAS
What does the
media, or technology,
REVERSE INTO?
What does the
media, or technology,
RETRIEVE?
Media Tetrad
Kimberley Peter and Michael Schaus ©2016 . RSD5
McLuhan, M., & McLuhan, E. (1988).
Laws of media: The new science. Toronto: University of Toronto Press.

19. Kimberley Peter and Michael Schaus ©2016 . RSD5
What does the
media, or technology,
ENHANCE?
RESEARCH PROCESS — IDEAS
What does the
media, or technology,
REVERSE INTO?
What does the
media, or technology,
RETRIEVE?
What does the
media, or technology,
OBSOLESCE?
Media Tetrad
Kimberley Peter and Michael Schaus ©2016 . RSD5
McLuhan, M., & McLuhan, E. (1988).
Laws of media: The new science. Toronto: University of Toronto Press.

20. Kimberley Peter and Michael Schaus ©2016 . RSD5
What does the
media, or technology,
ENHANCE?
RESEARCH PROCESS — IDEAS
What does the
media, or technology,
REVERSE INTO?
What does the
media, or technology,
RETRIEVE?
What does the
media, or technology,
OBSOLESCE?
Media Tetrad
FIGURE GROUND
Kimberley Peter and Michael Schaus ©2016 . RSD5
McLuhan, M., & McLuhan, E. (1988).
Laws of media: The new science. Toronto: University of Toronto Press.

21. RESEARCH PROCESS — IDEAS
14
TITLE TEXT IDEAS Mapped on Media Tetrad
BLACK = Bitcoin
BROWN = Blockchain
Anonymity
(pseudonymity)
of transactions
Intimacy of transactions
P2P Exchange
(removes third party
intermediaries)
Policy and freedom of pre-Internet
Web 1.0 days
Upside of barter (robust sense of
shared value in the moment +
open opportunities of digital
market
Opportunism tipping the balance
away from real value to empty or
misguided messaging and products
Tangibility of risk
(materiality in the area of
investment)
Innovative potential in
value-yielding businesses
and products
Maxxing out utility
of investment
Seeking ‘Breach
opportunities’ (Increased
incentive to destabilize reliability,
stability, pseudonymity afforded
by blockchain)
Business/data
monopolization by big
Internet companies
Trust for access
Thinking through the
incentive dynamics
unique to any system
Evolution of the Internet
(birth of IoT, new business
models, access and usage/
citizens of the Internet
Innovation
(and accelerates it)
Dependency on technology
(reliability and uptime)
Decentralized power
of issuance
Transactional trust
(math as contract)
Security of transactions
Internal integration
and communication
Decentralized activism
(on the blockchain)
Middlemen
Need for 3rd party in
transactional
relationships
Face-to-face social
engagement
Obsessive security
Oppressive
government controls
Asset (value store) only used as ‘flight to
safety’ and not as a good (medium of
exchange)
Ownership of money
Merchant commerce (B2B/B2C) -
Reduced friction and cost, with
immediacy of transaction
Tangibility of cash
Currency without
borders
Management of balance of
medium of exchange and holder
of value (slows velocity)
Blind following of ‘heat’ of bitcoin
in exchanges, like fiat exchanges
(e.g., terrorist initiated ‘puts’)
An interesting case study along
trajectory of earlier digital currencies
(Liberty Dollar, Chaumian eCash,
Szabo’s Bitgold)
Definitive settlement
of transactions
Banking for everyone
(including criminals)
Safety of value store in
the face of unknown
deflationary decline
Safety of storing and
transacting in bitcoin over
being tied to central banking
systems (applies to individual,
businesses and governments)
Control over and
access to funds
Financial services
shouldering the risk
of bitcoin-related
transactions
Knowledge of money and
where it comes from
Transaction reversal
Bricks & Mortar
stores
Monoculture/
monocurrency
US Treasury Bills
as a safety net
Forms of digital payment that support
centralized banking structures
(e.g., Paypal, Apple Pay, Google Wallet)
Traditional centralized
stock exchanges
Current regulations and
compliance policies for
existing B2B interactions
Online shopping
and trade
Kimberley Peter and Michael Schaus ©2016 . RSD5

22. RESEARCH PROCESS — IDEAS
14
TITLE TEXT
BITCOIN CURRENCY
BLOCKCHAIN TECHNOLOGY
REVERSES INTOENHANCES
RETRIEVES OBSOLESCES
IDEAS Mapped on Media Tetrad
BLACK = Bitcoin
BROWN = Blockchain
Anonymity
(pseudonymity)
of transactions
Intimacy of transactions
P2P Exchange
(removes third party
intermediaries)
Policy and freedom of pre-Internet
Web 1.0 days
Upside of barter (robust sense of
shared value in the moment +
open opportunities of digital
market
Opportunism tipping the balance
away from real value to empty or
misguided messaging and products
Tangibility of risk
(materiality in the area of
investment) Innovative potential in
value-yielding businesses
and products
Maxxing out utility
of investment
Seeking ‘Breach
opportunities’ (Increased
incentive to destabilize reliability,
stability, pseudonymity afforded
by blockchain)
Business/data
monopolization by big
Internet companies
Trust for access
Thinking through the
incentive dynamics
unique to any systemEvolution of the Internet
(birth of IoT, new business
models, access and usage/
citizens of the Internet
Innovation
(and accelerates it)
Dependency on technology
(reliability and uptime)
Decentralized power
of issuance
Transactional trust
(math as contract)
Security of transactions
Internal integration
and communication
Decentralized activism
(on the blockchain)
Middlemen
Need for 3rd party in
transactional
relationships
Face-to-face social
engagement
Obsessive security
Oppressive
government controls
Asset (value store) only used as ‘flight to
safety’ and not as a good (medium of
exchange)
Ownership of money
Merchant commerce (B2B/B2C) -
Reduced friction and cost, with
immediacy of transaction
Tangibility of cash
Currency without
borders
Management of balance of
medium of exchange and holder
of value (slows velocity)
Blind following of ‘heat’ of bitcoin
in exchanges, like fiat exchanges
(e.g., terrorist initiated ‘puts’)
An interesting case study along
trajectory of earlier digital currencies
(Liberty Dollar, Chaumian eCash,
Szabo’s Bitgold)
Definitive settlement
of transactions
Banking for everyone
(including criminals)
Safety of value store in
the face of unknown
deflationary decline
Safety of storing and
transacting in bitcoin over
being tied to central banking
systems (applies to individual,
businesses and governments)
Control over and
access to funds
Financial services
shouldering the risk
of bitcoin-related
transactions
Knowledge of money and
where it comes from
Transaction reversal
Bricks & Mortar
stores
Monoculture/
monocurrency
US Treasury Bills
as a safety net
Forms of digital payment that support
centralized banking structures
(e.g., Paypal, Apple Pay, Google Wallet)
Traditional centralized
stock exchangesCurrent regulations and
compliance policies for
existing B2B interactions
Online shopping
and trade
Kimberley Peter and Michael Schaus ©2016 . RSD5

23. RESEARCH PROCESS — IDEAS
14
TITLE TEXT
BITCOIN CURRENCY
BLOCKCHAIN TECHNOLOGY
REVERSES INTOENHANCES
RETRIEVES OBSOLESCES
IDEAS Mapped on Media Tetrad
BLACK = Bitcoin
BROWN = Blockchain
Anonymity
(pseudonymity)
of transactions
Intimacy of transactions
P2P Exchange
(removes third party
intermediaries)
Policy and freedom of pre-Internet
Web 1.0 days
Upside of barter (robust sense of
shared value in the moment +
open opportunities of digital
market
Opportunism tipping the balance
away from real value to empty or
misguided messaging and products
Tangibility of risk
(materiality in the area of
investment) Innovative potential in
value-yielding businesses
and products
Maxxing out utility
of investment
Seeking ‘Breach
opportunities’ (Increased
incentive to destabilize reliability,
stability, pseudonymity afforded
by blockchain)
Business/data
monopolization by big
Internet companies
Trust for access
Thinking through the
incentive dynamics
unique to any systemEvolution of the Internet
(birth of IoT, new business
models, access and usage/
citizens of the Internet
Innovation
(and accelerates it)
Dependency on technology
(reliability and uptime)
Decentralized power
of issuance
Transactional trust
(math as contract)
Security of transactions
Internal integration
and communication
Decentralized activism
(on the blockchain)
Middlemen
Need for 3rd party in
transactional
relationships
Face-to-face social
engagement
Obsessive security
Oppressive
government controls
Asset (value store) only used as ‘flight to
safety’ and not as a good (medium of
exchange)
Ownership of money
Merchant commerce (B2B/B2C) -
Reduced friction and cost, with
immediacy of transaction
Tangibility of cash
Currency without
borders
Management of balance of
medium of exchange and holder
of value (slows velocity)
Blind following of ‘heat’ of bitcoin
in exchanges, like fiat exchanges
(e.g., terrorist initiated ‘puts’)
An interesting case study along
trajectory of earlier digital currencies
(Liberty Dollar, Chaumian eCash,
Szabo’s Bitgold)
Definitive settlement
of transactions
Banking for everyone
(including criminals)
Safety of value store in
the face of unknown
deflationary decline
Safety of storing and
transacting in bitcoin over
being tied to central banking
systems (applies to individual,
businesses and governments)
Control over and
access to funds
Financial services
shouldering the risk
of bitcoin-related
transactions
Knowledge of money and
where it comes from
Transaction reversal
Bricks & Mortar
stores
Monoculture/
monocurrency
US Treasury Bills
as a safety net
Forms of digital payment that support
centralized banking structures
(e.g., Paypal, Apple Pay, Google Wallet)
Traditional centralized
stock exchangesCurrent regulations and
compliance policies for
existing B2B interactions
Online shopping
and trade
Ownership of money
Kimberley Peter and Michael Schaus ©2016 . RSD5

24. RESEARCH PROCESS — IDEAS
14
TITLE TEXT
BITCOIN CURRENCY
BLOCKCHAIN TECHNOLOGY
REVERSES INTOENHANCES
RETRIEVES OBSOLESCES
IDEAS Mapped on Media Tetrad
BLACK = Bitcoin
BROWN = Blockchain
Anonymity
(pseudonymity)
of transactions
Intimacy of transactions
P2P Exchange
(removes third party
intermediaries)
Policy and freedom of pre-Internet
Web 1.0 days
Upside of barter (robust sense of
shared value in the moment +
open opportunities of digital
market
Opportunism tipping the balance
away from real value to empty or
misguided messaging and products
Tangibility of risk
(materiality in the area of
investment) Innovative potential in
value-yielding businesses
and products
Maxxing out utility
of investment
Seeking ‘Breach
opportunities’ (Increased
incentive to destabilize reliability,
stability, pseudonymity afforded
by blockchain)
Business/data
monopolization by big
Internet companies
Trust for access
Thinking through the
incentive dynamics
unique to any systemEvolution of the Internet
(birth of IoT, new business
models, access and usage/
citizens of the Internet
Innovation
(and accelerates it)
Dependency on technology
(reliability and uptime)
Decentralized power
of issuance
Transactional trust
(math as contract)
Security of transactions
Internal integration
and communication
Decentralized activism
(on the blockchain)
Middlemen
Need for 3rd party in
transactional
relationships
Face-to-face social
engagement
Obsessive security
Oppressive
government controls
Asset (value store) only used as ‘flight to
safety’ and not as a good (medium of
exchange)
Ownership of money
Merchant commerce (B2B/B2C) -
Reduced friction and cost, with
immediacy of transaction
Tangibility of cash
Currency without
borders
Management of balance of
medium of exchange and holder
of value (slows velocity)
Blind following of ‘heat’ of bitcoin
in exchanges, like fiat exchanges
(e.g., terrorist initiated ‘puts’)
An interesting case study along
trajectory of earlier digital currencies
(Liberty Dollar, Chaumian eCash,
Szabo’s Bitgold)
Definitive settlement
of transactions
Banking for everyone
(including criminals)
Safety of value store in
the face of unknown
deflationary decline
Safety of storing and
transacting in bitcoin over
being tied to central banking
systems (applies to individual,
businesses and governments)
Control over and
access to funds
Financial services
shouldering the risk
of bitcoin-related
transactions
Knowledge of money and
where it comes from
Transaction reversal
Bricks & Mortar
stores
Monoculture/
monocurrency
US Treasury Bills
as a safety net
Forms of digital payment that support
centralized banking structures
(e.g., Paypal, Apple Pay, Google Wallet)
Traditional centralized
stock exchangesCurrent regulations and
compliance policies for
existing B2B interactions
Online shopping
and trade
Ownership of money
Asset (value store) only used as ‘flight to
safety’ and not as a good (medium of
exchange)
Kimberley Peter and Michael Schaus ©2016 . RSD5

25. RESEARCH PROCESS — IDEAS
14
TITLE TEXT
BITCOIN CURRENCY
BLOCKCHAIN TECHNOLOGY
REVERSES INTOENHANCES
RETRIEVES OBSOLESCES
IDEAS Mapped on Media Tetrad
BLACK = Bitcoin
BROWN = Blockchain
Anonymity
(pseudonymity)
of transactions
Intimacy of transactions
P2P Exchange
(removes third party
intermediaries)
Policy and freedom of pre-Internet
Web 1.0 days
Upside of barter (robust sense of
shared value in the moment +
open opportunities of digital
market
Opportunism tipping the balance
away from real value to empty or
misguided messaging and products
Tangibility of risk
(materiality in the area of
investment) Innovative potential in
value-yielding businesses
and products
Maxxing out utility
of investment
Seeking ‘Breach
opportunities’ (Increased
incentive to destabilize reliability,
stability, pseudonymity afforded
by blockchain)
Business/data
monopolization by big
Internet companies
Trust for access
Thinking through the
incentive dynamics
unique to any systemEvolution of the Internet
(birth of IoT, new business
models, access and usage/
citizens of the Internet
Innovation
(and accelerates it)
Dependency on technology
(reliability and uptime)
Decentralized power
of issuance
Transactional trust
(math as contract)
Security of transactions
Internal integration
and communication
Decentralized activism
(on the blockchain)
Middlemen
Need for 3rd party in
transactional
relationships
Face-to-face social
engagement
Obsessive security
Oppressive
government controls
Asset (value store) only used as ‘flight to
safety’ and not as a good (medium of
exchange)
Ownership of money
Merchant commerce (B2B/B2C) -
Reduced friction and cost, with
immediacy of transaction
Tangibility of cash
Currency without
borders
Management of balance of
medium of exchange and holder
of value (slows velocity)
Blind following of ‘heat’ of bitcoin
in exchanges, like fiat exchanges
(e.g., terrorist initiated ‘puts’)
An interesting case study along
trajectory of earlier digital currencies
(Liberty Dollar, Chaumian eCash,
Szabo’s Bitgold)
Definitive settlement
of transactions
Banking for everyone
(including criminals)
Safety of value store in
the face of unknown
deflationary decline
Safety of storing and
transacting in bitcoin over
being tied to central banking
systems (applies to individual,
businesses and governments)
Control over and
access to funds
Financial services
shouldering the risk
of bitcoin-related
transactions
Knowledge of money and
where it comes from
Transaction reversal
Bricks & Mortar
stores
Monoculture/
monocurrency
US Treasury Bills
as a safety net
Forms of digital payment that support
centralized banking structures
(e.g., Paypal, Apple Pay, Google Wallet)
Traditional centralized
stock exchangesCurrent regulations and
compliance policies for
existing B2B interactions
Online shopping
and trade
Ownership of money
Asset (value store) only used as ‘flight to
safety’ and not as a good (medium of
exchange)
Need for 3rd party in
transactional
relationships
Kimberley Peter and Michael Schaus ©2016 . RSD5

26. RESEARCH PROCESS — IDEAS
14
TITLE TEXT
BITCOIN CURRENCY
BLOCKCHAIN TECHNOLOGY
REVERSES INTOENHANCES
RETRIEVES OBSOLESCES
IDEAS Mapped on Media Tetrad
BLACK = Bitcoin
BROWN = Blockchain
Anonymity
(pseudonymity)
of transactions
Intimacy of transactions
P2P Exchange
(removes third party
intermediaries)
Policy and freedom of pre-Internet
Web 1.0 days
Upside of barter (robust sense of
shared value in the moment +
open opportunities of digital
market
Opportunism tipping the balance
away from real value to empty or
misguided messaging and products
Tangibility of risk
(materiality in the area of
investment) Innovative potential in
value-yielding businesses
and products
Maxxing out utility
of investment
Seeking ‘Breach
opportunities’ (Increased
incentive to destabilize reliability,
stability, pseudonymity afforded
by blockchain)
Business/data
monopolization by big
Internet companies
Trust for access
Thinking through the
incentive dynamics
unique to any systemEvolution of the Internet
(birth of IoT, new business
models, access and usage/
citizens of the Internet
Innovation
(and accelerates it)
Dependency on technology
(reliability and uptime)
Decentralized power
of issuance
Transactional trust
(math as contract)
Security of transactions
Internal integration
and communication
Decentralized activism
(on the blockchain)
Middlemen
Need for 3rd party in
transactional
relationships
Face-to-face social
engagement
Obsessive security
Oppressive
government controls
Asset (value store) only used as ‘flight to
safety’ and not as a good (medium of
exchange)
Ownership of money
Merchant commerce (B2B/B2C) -
Reduced friction and cost, with
immediacy of transaction
Tangibility of cash
Currency without
borders
Management of balance of
medium of exchange and holder
of value (slows velocity)
Blind following of ‘heat’ of bitcoin
in exchanges, like fiat exchanges
(e.g., terrorist initiated ‘puts’)
An interesting case study along
trajectory of earlier digital currencies
(Liberty Dollar, Chaumian eCash,
Szabo’s Bitgold)
Definitive settlement
of transactions
Banking for everyone
(including criminals)
Safety of value store in
the face of unknown
deflationary decline
Safety of storing and
transacting in bitcoin over
being tied to central banking
systems (applies to individual,
businesses and governments)
Control over and
access to funds
Financial services
shouldering the risk
of bitcoin-related
transactions
Knowledge of money and
where it comes from
Transaction reversal
Bricks & Mortar
stores
Monoculture/
monocurrency
US Treasury Bills
as a safety net
Forms of digital payment that support
centralized banking structures
(e.g., Paypal, Apple Pay, Google Wallet)
Traditional centralized
stock exchangesCurrent regulations and
compliance policies for
existing B2B interactions
Online shopping
and trade
Ownership of money
Intimacy of transactions
Asset (value store) only used as ‘flight to
safety’ and not as a good (medium of
exchange)
Need for 3rd party in
transactional
relationships
Kimberley Peter and Michael Schaus ©2016 . RSD5

27. Kimberley Peter and Michael Schaus ©2016 . RSD5
15
RESEARCH PROCESS — IDEAS Media Tetrad at Three Levels of Economy
MICRO LEVEL
Real Economy

28. Kimberley Peter and Michael Schaus ©2016 . RSD5
15
RESEARCH PROCESS — IDEAS Media Tetrad at Three Levels of Economy
MICRO LEVEL
Real Economy
MESO LEVEL
Financial Services

29. Kimberley Peter and Michael Schaus ©2016 . RSD5
15
RESEARCH PROCESS — IDEAS Media Tetrad at Three Levels of Economy
MICRO LEVEL
Real Economy
MESO LEVEL
Financial Services
MACRO LEVEL
National Currency / Policy

30. Kimberley Peter and Michael Schaus ©2016 . RSD5
16
What might the impact be over time?
RESEARCH PROCESS — IDEAS

31. 17
RESEARCH PROCESS — IDEAS
Gunderson, L. H. and Holling, C. S. (eds). (2001).
Panarchy: Understanding Transformations in Human and Natural Systems.
Washington, DC: Island Press.Panarchy Model
Kimberley Peter and Michael Schaus ©2016 . RSD5

32. 17
RESEARCH PROCESS — IDEAS
Gunderson, L. H. and Holling, C. S. (eds). (2001).
Panarchy: Understanding Transformations in Human and Natural Systems.
Washington, DC: Island Press.Panarchy Model
GROWTH (r)
“Rapid colonization of recently
disturbed area—the instantaneous
rate of growth of a population”
Kimberley Peter and Michael Schaus ©2016 . RSD5

33. 17
RESEARCH PROCESS — IDEAS
Gunderson, L. H. and Holling, C. S. (eds). (2001).
Panarchy: Understanding Transformations in Human and Natural Systems.
Washington, DC: Island Press.Panarchy Model
GROWTH (r)
“Rapid colonization of recently
disturbed area—the instantaneous
rate of growth of a population”
CONSERVATION (Κ)
“Slow accumulation and storage of
energy and material—the sustained
plateau or maximum population”
Kimberley Peter and Michael Schaus ©2016 . RSD5

34. 17
RESEARCH PROCESS — IDEAS
Gunderson, L. H. and Holling, C. S. (eds). (2001).
Panarchy: Understanding Transformations in Human and Natural Systems.
Washington, DC: Island Press.Panarchy Model
GROWTH (r)
“Rapid colonization of recently
disturbed area—the instantaneous
rate of growth of a population”
CREATIVE DESTRUCTION (Ω)
“Tightly bound accumulation of biomass
becomes increasingly overconnected until
suddenly released—the ultimate limit”
CONSERVATION (Κ)
“Slow accumulation and storage of
energy and material—the sustained
plateau or maximum population”
Kimberley Peter and Michael Schaus ©2016 . RSD5

35. 17
RESEARCH PROCESS — IDEAS
Gunderson, L. H. and Holling, C. S. (eds). (2001).
Panarchy: Understanding Transformations in Human and Natural Systems.
Washington, DC: Island Press.Panarchy Model
GROWTH (r)
“Rapid colonization of recently
disturbed area—the instantaneous
rate of growth of a population”
CREATIVE DESTRUCTION (Ω)
“Tightly bound accumulation of biomass
becomes increasingly overconnected until
suddenly released—the ultimate limit”
CONSERVATION (Κ)
“Slow accumulation and storage of
energy and material—the sustained
plateau or maximum population”
REORGANIZATION (α)
“Appearance or expansion of
organisms that begin to capture
opportunity—the pioneer species”
Kimberley Peter and Michael Schaus ©2016 . RSD5

36. 17
SPRING
SUMMER
AUTUMN
WINTER
RESEARCH PROCESS — IDEAS
Gunderson, L. H. and Holling, C. S. (eds). (2001).
Panarchy: Understanding Transformations in Human and Natural Systems.
Washington, DC: Island Press.Panarchy Model
GROWTH (r)
“Rapid colonization of recently
disturbed area—the instantaneous
rate of growth of a population”
CREATIVE DESTRUCTION (Ω)
“Tightly bound accumulation of biomass
becomes increasingly overconnected until
suddenly released—the ultimate limit”
CONSERVATION (Κ)
“Slow accumulation and storage of
energy and material—the sustained
plateau or maximum population”
REORGANIZATION (α)
“Appearance or expansion of
organisms that begin to capture
opportunity—the pioneer species”
Kimberley Peter and Michael Schaus ©2016 . RSD5

37. 17
RESEARCH PROCESS — IDEAS
Gunderson, L. H. and Holling, C. S. (eds). (2001).
Panarchy: Understanding Transformations in Human and Natural Systems.
Washington, DC: Island Press.Panarchy Model
GROWTH (r) CREATIVE DESTRUCTION (Ω)
CONSERVATION (Κ)REORGANIZATION (α)
Kimberley Peter and Michael Schaus ©2016 . RSD5

38. Kimberley Peter and Michael Schaus ©2016 . RSD5
RESEARCH PROCESS — IDEAS Tetrad Nested in Panarchy
GROWTH (r) CREATIVE DESTRUCTION (Ω)
CONSERVATION (Κ)REORGANIZATION (α)
Gunderson, L. H. and Holling, C. S. (eds). (2001).
Panarchy: Understanding Transformations in Human and Natural Systems.
Washington, DC: Island Press.
McLuhan, M., & McLuhan, E. (1988).
Laws of media: The new science. Toronto: University of Toronto Press.

39. Kimberley Peter and Michael Schaus ©2016 . RSD5
RESEARCH PROCESS — IDEAS Tetrad Nested in Panarchy
GROWTH (r) CREATIVE DESTRUCTION (Ω)
CONSERVATION (Κ)REORGANIZATION (α)
MEDIA
ENHANCES REVERSES INTO
RETRIEVES OBSOLESCES
Gunderson, L. H. and Holling, C. S. (eds). (2001).
Panarchy: Understanding Transformations in Human and Natural Systems.
Washington, DC: Island Press.
McLuhan, M., & McLuhan, E. (1988).
Laws of media: The new science. Toronto: University of Toronto Press.

40. Kimberley Peter and Michael Schaus ©2016 . RSD5
RESEARCH PROCESS — IDEAS Tetrad Nested in Panarchy
GROWTH (r) CREATIVE DESTRUCTION (Ω)
CONSERVATION (Κ)REORGANIZATION (α)
MEDIA
ENHANCES
REVERSES INTORETRIEVES
OBSOLESCES
Gunderson, L. H. and Holling, C. S. (eds). (2001).
Panarchy: Understanding Transformations in Human and Natural Systems.
Washington, DC: Island Press.
McLuhan, M., & McLuhan, E. (1988).
Laws of media: The new science. Toronto: University of Toronto Press.

41. Kimberley Peter and Michael Schaus ©2016 . RSD5
RESEARCH PROCESS — IDEAS Tetrad Nested in Panarchy
GROWTH (r) CREATIVE DESTRUCTION (Ω)
CONSERVATION (Κ)REORGANIZATION (α)
ENHANCES /
REVERSES INTO /RETRIEVES /
OBSOLESCES /
Gunderson, L. H. and Holling, C. S. (eds). (2001).
Panarchy: Understanding Transformations in Human and Natural Systems.
Washington, DC: Island Press.
McLuhan, M., & McLuhan, E. (1988).
Laws of media: The new science. Toronto: University of Toronto Press.

42. 19
SPRING
SUMMER
AUTUMN
WINTER
RESEARCH PROCESS — IDEAS
GROWTH (r) CREATIVE DESTRUCTION (Ω)
CONSERVATION (Κ)REORGANIZATION (α)
Tetrad Nested in Panarchy
ENHANCES /
REVERSES INTO /RETRIEVES /
OBSOLESCES /
Kimberley Peter and Michael Schaus ©2016 . RSD5
Gunderson, L. H. and Holling, C. S. (eds). (2001).
Panarchy: Understanding Transformations in Human and Natural Systems.
Washington, DC: Island Press.
McLuhan, M., & McLuhan, E. (1988).
Laws of media: The new science. Toronto: University of Toronto Press.

43. 19
SPRING
SUMMER
AUTUMN
WINTER
RESEARCH PROCESS — IDEAS
FIGURE / GOOD GROUND / ASSET
GROWTH (r) CREATIVE DESTRUCTION (Ω)
CONSERVATION (Κ)REORGANIZATION (α)
Tetrad Nested in Panarchy
ENHANCES /
REVERSES INTO /RETRIEVES /
OBSOLESCES /
Kimberley Peter and Michael Schaus ©2016 . RSD5
Gunderson, L. H. and Holling, C. S. (eds). (2001).
Panarchy: Understanding Transformations in Human and Natural Systems.
Washington, DC: Island Press.
McLuhan, M., & McLuhan, E. (1988).
Laws of media: The new science. Toronto: University of Toronto Press.

44. 20
SPRING
SUMMER
AUTUMN
WINTER
RESEARCH PROCESS — IDEAS
GROWTH (r) CREATIVE DESTRUCTION (Ω)
CONSERVATION (Κ)REORGANIZATION (α)
Narrative: Remittance at Real Economy Level
ENHANCES /
REVERSES INTO /RETRIEVES /
OBSOLESCES /
FIGURE / GOOD GROUND / ASSET
Kimberley Peter and Michael Schaus ©2016 . RSD5

45. 20
SPRING
SUMMER
AUTUMN
WINTER
RESEARCH PROCESS — IDEAS
GROWTH (r) CREATIVE DESTRUCTION (Ω)
CONSERVATION (Κ)REORGANIZATION (α)
Narrative: Remittance at Real Economy Level
ENHANCES /
REVERSES INTO /RETRIEVES /
OBSOLESCES /
Currency without
borders
FIGURE / GOOD GROUND / ASSET
Kimberley Peter and Michael Schaus ©2016 . RSD5

46. 20
SPRING
SUMMER
AUTUMN
WINTER
RESEARCH PROCESS — IDEAS
GROWTH (r) CREATIVE DESTRUCTION (Ω)
CONSERVATION (Κ)REORGANIZATION (α)
Narrative: Remittance at Real Economy Level
ENHANCES /
REVERSES INTO /RETRIEVES /
OBSOLESCES /
Currency without
borders
Ownership of
money
FIGURE / GOOD GROUND / ASSET
Kimberley Peter and Michael Schaus ©2016 . RSD5

47. 20
SPRING
SUMMER
AUTUMN
WINTER
RESEARCH PROCESS — IDEAS
GROWTH (r) CREATIVE DESTRUCTION (Ω)
CONSERVATION (Κ)REORGANIZATION (α)
Narrative: Remittance at Real Economy Level
ENHANCES /
REVERSES INTO /RETRIEVES /
OBSOLESCES /
Currency without
borders
Ownership of
money
Start up culture around new
remittance services
FIGURE / GOOD GROUND / ASSET
Kimberley Peter and Michael Schaus ©2016 . RSD5

48. 20
SPRING
SUMMER
AUTUMN
WINTER
RESEARCH PROCESS — IDEAS
GROWTH (r) CREATIVE DESTRUCTION (Ω)
CONSERVATION (Κ)REORGANIZATION (α)
Narrative: Remittance at Real Economy Level
ENHANCES /
REVERSES INTO /RETRIEVES /
OBSOLESCES /
Currency without
borders
Ownership of
money
Start up culture around new
remittance services
Need for 3rd party
intermediaries
FIGURE / GOOD GROUND / ASSET
Kimberley Peter and Michael Schaus ©2016 . RSD5

49. 20
SPRING
SUMMER
AUTUMN
WINTER
RESEARCH PROCESS — IDEAS
GROWTH (r) CREATIVE DESTRUCTION (Ω)
CONSERVATION (Κ)REORGANIZATION (α)
Narrative: Remittance at Real Economy Level
ENHANCES /
REVERSES INTO /RETRIEVES /
OBSOLESCES /
Currency without
borders
Ownership of
money
Start up culture around new
remittance services
Need for 3rd party
intermediaries
Increased intimacy
of transactions
FIGURE / GOOD GROUND / ASSET
Kimberley Peter and Michael Schaus ©2016 . RSD5

50. 20
SPRING
SUMMER
AUTUMN
WINTER
RESEARCH PROCESS — IDEAS
GROWTH (r) CREATIVE DESTRUCTION (Ω)
CONSERVATION (Κ)REORGANIZATION (α)
Narrative: Remittance at Real Economy Level
ENHANCES /
REVERSES INTO /RETRIEVES /
OBSOLESCES /
Currency without
borders
Ownership of
money
Start up culture around new
remittance services
Need for 3rd party
intermediaries
Anonymity of personal
transactions
Increased intimacy
of transactions
FIGURE / GOOD GROUND / ASSET
Kimberley Peter and Michael Schaus ©2016 . RSD5

51. 20
SPRING
SUMMER
AUTUMN
WINTER
RESEARCH PROCESS — IDEAS
GROWTH (r) CREATIVE DESTRUCTION (Ω)
CONSERVATION (Κ)REORGANIZATION (α)
Narrative: Remittance at Real Economy Level
ENHANCES /
REVERSES INTO /RETRIEVES /
OBSOLESCES /
Currency without
borders
Ownership of
money
Start up culture around new
remittance services
Need for 3rd party
intermediaries
Anonymity of personal
transactions
Increased intimacy
of transactions
Upside of barter
(trust in transaction)
FIGURE / GOOD GROUND / ASSET
Kimberley Peter and Michael Schaus ©2016 . RSD5

52. Kimberley Peter and Michael Schaus ©2016 . RSD5
21
How might this play out through levels
of the financial system?
RESEARCH PROCESS — IDEAS

53. Kimberley Peter and Michael Schaus ©2016 . RSD5
22
RESEARCH PROCESS — IDEAS
MICRO LEVEL
Real Economy Level
Narrative: Remittance at Three Levels of System

54. Kimberley Peter and Michael Schaus ©2016 . RSD5
22
RESEARCH PROCESS — IDEAS
MICRO LEVEL
Real Economy Level
Narrative: Remittance at Three Levels of System
MESO LEVEL
Financial Services

55. Kimberley Peter and Michael Schaus ©2016 . RSD5
22
RESEARCH PROCESS — IDEAS
MICRO LEVEL
Real Economy Level
Narrative: Remittance at Three Levels of System
MESO LEVEL
Financial Services
MACRO LEVEL
National Currency / Policy

56. Kimberley Peter and Michael Schaus ©2016 . RSD5
22
RESEARCH PROCESS — IDEAS
MICRO LEVEL
Real Economy Level
Narrative: Remittance at Three Levels of System
MESO LEVEL
Financial Services
MACRO LEVEL
National Currency / Policy
REVOLT

57. Kimberley Peter and Michael Schaus ©2016 . RSD5
22
RESEARCH PROCESS — IDEAS
MICRO LEVEL
Real Economy Level
Narrative: Remittance at Three Levels of System
MESO LEVEL
Financial Services
MACRO LEVEL
National Currency / Policy
REMEMBER
REVOLT

58. Kimberley Peter and Michael Schaus ©2016 . RSD5
23
How might remittance be an entry point
for Bitcoin’s potential to bank the
unbanked towards the emergence of a
“digital middle class”?
RESEARCH PROCESS — TOPIC OPPORTUNITIES

59. Kimberley Peter and Michael Schaus ©2016 . RSD5
24
FUTURE WORK
REFLECTION ON THE MODELS AND FUTURE WORK

60. Kimberley Peter and Michael Schaus ©2016 . RSD5
25
Aggregate emergence —
within and across quadrants
and at levels of system
REFLECTION ON THE MODELS — BENEFITS
Media Tetrad Panarchy Model
Taking emergent ideas
through time and narrative
— both horizontally and
vertically

61. Kimberley Peter and Michael Schaus ©2016 . RSD5
26
Its usefulness as a scenario-seeding
tool needs further exploration
More applications of the models
together are needed
REFLECTION ON THE MODELS — CHALLENGES
Integrated Model

62. Kimberley Peter and Michael Schaus ©2016 . RSD5
27
What applications of this integrated
model can you imagine?
FUTURE WORK — TOOL OPPORTUNITIES

63. Kimberley Peter
@kpeter
kimberpeter@gmail.com
Michael Schaus
@Schausm
schausmike@gmail.com
THANKS!
Kimberley Peter and Michael Schaus ©2016 . RSD5