why bitcoin will change everything
TRANSCRIPT
because history is about shift in power structure
They say Bitcoin … • Has no intrinsic value!• Is not a legal tender!• Doesn’t solve any problem!
(1) Money as a service!Bitcoin is Dollar 2.0!
2000 years ago …
Chunfa – founder of ChowFarm, producing vegetables and crops !
Bao - Technical nerd. Full-stack Hunter!
Balanced diet, Happier life
Value Exchange of Three parties
Life simplified with cows
Yet, Cow get ill
Let’s tokenize Cow
100 HuangDollar = 1 Cow!
=!
Aha moment: Villagers never redeem cow.
Let’s print more HuangDollars
Sad story of Zimbabwe • First Dollar: ZWD (1980)!
1.47 USD: 1 ZWD!
…….!
• Third Dollar!
1 ZWR = 10 billion ZWN!
A 100-trillion-dollar bill, it turns out, is worth about $5.!
Worldwide inflation
Recap "- Money = debt!
- Dollar is a technology!
- Cryptocurrency is Dollar 2.0: Solving for Principal-Agent risk!
Bitcoin / Cryptocurrency!
■ Predefined supply algorithm!
■ Vote by money!
Central Bank!
✍ Create money!✍ Set interest rate & reserve
requirement!✍ NO opt-out!
(2) Permission-less Innovation!
Innovation accelerates with decentralization
1430s: Press!
1980s: Personal
Computer!
1984: 3D
Printing -
manufacturing!
1989: Web!
2000s: Blog/
Twitter!
2009 : Bitcoin –
finance!
How can cryptocurrency help?
❖ Decentralized financial innovations - e.g. pool insurance !
❖ 5th protocol: Value exchange layer (e.g. Uber)!
❖ MaidSafe: Decentralizing Internet!
(3) Social contract and enforcement!
- Thomas Hobbes <Social Contract>!
“… that a man be willing, when others are so too, … , to lay down this right to all things; and be contented with so much liberty against other men as he would
allow other men against himself.” !Constitution!
Laws!
Sovereign!
Corp!
Business Contracts!
Non-profit! LLP!
Cryptocurrency enabling new org structure
❖ Why: Principal-Agent-Customer!❖ Distributed software foundations!
❖ Charity / Investment Vehicle!
❖ Autonomous public service!
❖ Crowd Jury!
Recap – 3 layers of innovation
Money as a service: Bitcoin & Altcoins!
Permission-less innovation: "Maidsafe, Counterparty!
Social contracts: Ethereum !
–Steve Jobs!
“Life can be much broader once you discover …Everything around you that you call life was made up by people that were no smarter than you and you can change it, …” !
Thought Experiment 2!If X never invented, given X and Y, would Y be a no brainer? !
Appendix: Evaluating Disruptive Technology
Often disguised as cheaper but inferior, or better but too expensive!
Thought Experiment 1!Assuming 100% adoption,, would it be a better world? !
Thought Experiment 3: What if it becomes 100x cheaper, AND 100x faster?!
Appendix: Further Resources
❖ Bitcoin-Dev Mailing List !
❖ JayWSalon BitCoin SIG!
❖ Sillicon Valley Bitcoin Meetup : Every Tue @ Plug n Play!
❖ Stanford Bitcoin Meetup (Palo Alto)!
❖ Ethereum Meetup!
❖ SV Counterparty Meetup (In progress) !
Appendix: Further Resources
❖ Bitcoin-Dev Mailing List !
❖ JayWSalon BitCoin SIG!
❖ Sillicon Valley Bitcoin Meetup : Every Tue @ Plug n Play!
❖ Stanford Bitcoin Meetup (Palo Alto)!
❖ Ethereum Meetup!
❖ SV Counterparty Meetup (In progress) !