Crowdsourcing Week 2015Bitcoin and Blockchain

David Moskowitz

Founder : Coin Republic

david@coinrepublic.com

What is Money?

• Means of Exchange• Store of Value• Unit of Account• Easy to Divide and Transport• Low Cost to Preserve• Resistant to Counterfeiting

• Can transferred digitally?

Forms of Money / Trade

• Barter• Shells• Giant Stones• Gold / Silver• Paper – Commodity Backed• Fiat – Faith, Sovereign

• Electronic / Digital

What is Bitcoin/Blockchain?• Decentralized Public Ledger (The Blockchain)• Public Key – your account number• Private Key – your key to get access/ownership• Mining – verifies transactions• Adds last 10 minutes into a block• Adds that block to the ledger

What is Bitcoin/Blockchain?

Data entered into the Blockchain

Data Field: OP_RETURN 636861726c6579206c6f766573206865696469e

Input OutputAlice: 1 btc Bob: 1btc

Why Bitcoin Matters

1) Permission-less Innovation2) Low costs3) Science – Not Politics4) Programmable Digital Asset

What can you do 1.0

1) Speculate2) Consumer / Merchant3) Remittance4) Crowdfunding / Share Issuance

Other Coins

Decentralized proof

Tokenization of Assets

Smart Nation - Smart Contracts

IOT: Inter-Machine Payments

Applications – Future?

In 1995….Facebook?Whatsapp?Kickstarter?

Thank you - david@coinrepublic.com