Download - Bitcoin & Blockchain Basics
Crowdsourcing Week 2015Bitcoin and Blockchain
David Moskowitz
Founder : Coin Republic
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 - [email protected]