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Introduction to Blockchain and Cryptocurrencies


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A brief introduction to Blockchain technologies, cryptocurrencies and smart contracts. What is it, why it matters, and how it will change the world.

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Introduction to Blockchain and Cryptocurrencies

  1. 1. Blockchain Intro a Step to a New World 1
  2. 2. Walid Driss - Co-founder and CEO of DigitUs - Curriculum Overview 2
  3. 3. Hichem Ben Fadhl - Co-founder and Chairman of DigitUs - Curriculum Overview 3 Advisor - Board Member and CEO of financial institutions ▪ Co-founder and Chairman of DigitUs, a fintech startup ▪ Advisor to the Minister, in charge of the new Investment Code ▪ Board Member of Banque Nationale Agricole ▪ Former CEO, International Maghreb Merchant Bank ▪ Co-founder and former COO of Banque Zitouna, Strategic and Operational leader ▪ Co-founder and former CEO, CDC Gestion - Private Equity ▪ Led AttijariWafa Bank’s transformation of Banque du Sud in Tunisia ▪ Led Credit Agricole and Credit Lyonnais Equity Derivatives Activities Merger ▪ Bain & Company Financial Services Practice ▪ Accenture France Capital Markets Practice ▪ Deeply involved in the Tunisian Economical, Political and Civil Society space ▪ Key contributor to Governmental economic change
  4. 4. A new tech revolution is underway 4 4 The innovation behind Bitcoin is a powerful breakthrough in human’s history.
  5. 5. Blockchain has proven itself as a secure transaction system 5 Bitcoin is now a 6bn$ monetary reserve, 20bn$ of transactions per year 6th global reserve currency by 2030 Already bigger than most of the world’s currencies 5
  6. 6. What is Blockchain 6 6 A decentralized public ledger, proving facts and transactions Remote transactions can suddenly happen instantly, securely, reliably, cost-effectively, from peer to peer It’s possible because it’s notarized by the consensus of the Blockchain (trusted, predictable, inalterable algorithm)
  7. 7. What is Blockchain 8 8
  8. 8. What is Blockchain 9 9
  9. 9. How did it start 10 10 An 8 pages concept paper which changes the world upside down It solved for the double spend problem in the digital space
  10. 10. Why it matters 11 11 It will change the world as we know it In a same way that Internet changed the world as we know it But with a much higher order of magnitude Things not yet imagined will become possible!
  11. 11. What can be the impact: Reducing transactions costs, increasing economic output 12 12 The Copenhagen Consensus: : Trade Barriers is #1 problem in the world, Removing trade barriers is over 30 times more effective than any other intervention 1. secure property rights 2. efficient trade 3. division of labor and specialization 4. network size 2. Efficient Trade A mere 0.1% reduction in transaction costs quadruples a country’s wealth. Low transaction costs are the fundamental driver of economic growth.
  12. 12. A conceptual example: a smart contract. 13 13 A self-executed contract, trusted and reliable
  13. 13. Explore the unlimited potential of this new paradigm 14 14 Blockchain: Blueprint for a New Economy Jan 29, 2015 by Melanie Swan Mastering Bitcoin: Unlocking Digital Cryptocurrencies Dec 10, 2014 by Andreas M. Antonopoulos
  14. 14. Explore the unlimited potential of this new paradigm 15 15 The Bitcoin Big Bang: How Alternative Currencies Are About to Change the World Nov 17, 2014 by Brian Kelly Decentralized Applications: Harnessing Bitcoin's Blockchain Technology Mar 25, 2016 by Siraj Raval
  15. 15. The convergence of Multiple Technologies 17 17 The convergence of: ● P2P ● Cloud ● Cryptography ● Smart Devices Even more relevant with the explosion of the Internet of Things A Platform for a New World
  16. 16. A new IT paradigm 18 18 Application Security Business Rules Data Validation Trust Client Server User Interface Business Rules Data Institutional Infrastructure Client Devices Old New ● P2P ● Cloud ● Cryptography
  17. 17. "You should be taking this technology as seriously as you should have been taking the development of the Internet in the early 1990s," - Blythe Masters 22 22 Blythe made it to Managing Director at JP Morgan at age 28, and left her role as Global Head at JP Morgan in 2014 to become a CEO of a crypto-finance start-up.
  18. 18. What the great minds say about this technology 23 23 “Virgin Galactic is a company looking into the future, so is Bitcoin. So it makes sense we would offer Bitcoin as a way to pay for your journey to space” – Richard Branson “Bitcoin is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has enormous value” –Eric Schmidt “ Bitcoin is a technological tour de force ” – Bill Gates
  19. 19. The New Internet 24 24 Growth Years 1990’s 2000’s 2015 Internet Blockchain
  20. 20. Investments are pouring in Blockchain applications 25 Banks and financial institutions are willing to spend around $1 billion on projects over the next two years Blockchain technologies could reduce banks' infrastructural costs by $15-20bn a year by 2022, a new report from Santander InnoVentures claims 25
  21. 21. 13 financial services firms made their first investment in the digital currency and blockchain space since the start of August 2015 26 26
  22. 22. It’s only the tip of the iceberg 27 27
  23. 23. Opportunity for Tunisia 30 Developing an Ecosystem of: - Knowledge Gurus - Developers - Startups - VCs, specialised funds / accelerators - Talent Hub (to export innovation and to attract foreign companies to set up in Tunisia in this new space) - Institutional ownership (leapfrogging) - eGov (Tunix-Road) 30
  24. 24. Building the Tunisian Community 31 If you are a business leader, join Blockchainge Tunisia and shape the agenda: (please motivate your request to join) If you are a developer, join the gurus and develop the products of tomorrow: (please motivate your request to join) 3131
  25. 25. You want to further explore the opportunities of Blockchain technologies? 32 32