Shift Money 2019 - The New Economic Paradigm - Mel Gelderman (Monolith)
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We’re at the cusp of the most exciting moment in Ethereum since its creation. A new trustless economic paradigm is emerging and it’s potential is limitless.
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Shift Money 2019 - The New Economic Paradigm - Mel Gelderman (Monolith)
- 5. ● We’ve built a consumer-grade banking experience for the Ethereum Economy, for DeFi. ● We want to replace your bank. ● It is non-custodial. We DO NOT want to hold onto your money. ● We want people to abandon the decaying old world economy.
- 7. An MVP experience that can seamlessly drop into your current life ● Grandma-proof wallet ○ Non-custodial ○ Not a key, but a smart contract ○ Fit to hold everything you (will soon) own ○ Check out the code https://github.com/tokencard/contracts/ ● Monolith Visa Debit Card ○ Closest non-custodial implementation possible ○ Use any of your Ethereum assets in the real world
- 8. What we have had to do to get this far ● We have been through the FCA’s Sandbox, signed off. ● We interact with both Visa and Ethereum ● Full Client Due Diligence / AML systems ● Treasury Function ● Customer Services Team ● We have built our own block-parser as Geth and Parity’s JSON RPC endpoints don’t suffice, we end up doing far too many “getLogs” / *getEvents calls ● We have penetration tested our mobile app twice now ● We have penetrations tested our backend multiple times ● PCI Compliant so that we can handle card holder data
- 9. What is right around the corner? ● Gateway integrations ○ Money-in with open banking/PSD2 ● DeFi integrations ○ Dex Swaps ○ Maker, Compound ● Move to a passive UX ● Removing gas, and fees Mini Eureka! <6mo. away
- 12. 1000
- 13. ● However, perhaps something running on Ethereum, being non-custodial and futuristic isn’t enough. ● Maybe people need a good reason to care… ● We are on on the cusp of the most exciting moment in Ethereum since it’s creation. Something magical.
- 15. ● DeFi is a layer cake ● Compelling beyond just speculation ● We have been preparing for this moment for years ● Monolith is very well positioned to be the EU play for DeFi within 6mo.
- 16. Demo!
Editor's Notes
- Be like UnboxTherapy. Alright alright alright alright. Hello Zagreb! My name is Mel Gelderman and I am one of the creators of a company called Monolith. Hello everyone, name, title, company
- And at Monolith we’re trying to wrap up the Ethereum Economy into a consumer grade-banking experienc. We want to replace your bank with the Ethereum Economy that you can replace your bank, with this new economic paradigm. And I’m here to tell you why we’re at the cusp of the most exciting moment in Ethereum since its creation.
- Something that is foundationally different
- And at Monolith we’re trying to wrap up the Ethereum Economy into a consumer grade-banking experience. We want to replace your bank with the Ethereum Economy hat you can replace your bank, with this new economic paradigm. And I’m here to tell you why we’re at the cusp of the most exciting moment in Ethereum since its creation.
- We’re building a consumer grade banking experience trying to wrap up the Ethereum economy/ the DeFi economy Old: TO US Ethereum represents transcendence into a new world and the Monolith is our attempt to help people transcend
- A little bit about what we’ve built. The MVP to live a life on Ethereum
- We’re building a consumer banking experience around DeFi
- But this is all already real today. This is all real!
- Something magical
- This! This is what has happened.
- We’re going to do a european land grab
- As always I want to thank my team. These guys live and breathe the heart of the revolution.