‘AND THEN THERE WAS BITCOIN’Presentation, 30 min.

Author of the early and influential paper ‘Bitcoin 2.0’, dec 2013

http://www.slideshare.net/patricksavalle/bitcoin-20

Architect and coder of MOBBR.COM elected top 3 bitcoin startup at the World Bitcoin

Day 2014

Full-stack innovator

:Bitcoin is neither good nor bad nor is it neutral

It certainly can’t be un-invented and it also won’t wait for doubters

IT’S TECHNOLOGY

BITCOIN FOR THE USER: WALLETS AND EXCHANGES

‘JUST’ THE FIRST APP ON THE BLOCKCHAIN: CASH MONEY OVER THE INTERNET

BUT BITCOIN IS ABOVE ALL:SMART LEDGER TECHNOLOGY

I. Financial Instruments, Records and Models

CurrencyPrivate equitiesPublic equitiesBondsDerivatives (futures, forwards, swaps, options)Voting rights associated with any of the aboveCommoditiesSpending recordsTrading recordsMortgage / loan recordsServicing recordsCrowd-fundingMicro-financeMicro-charity

II. Public Records Land titlesVehicle registriesBusiness licenseBusiness incorporation / dissolution recordsBusiness ownership recordsRegulatory recordsCriminal recordsPassportsBirth certificatesDeath certificatesVoter IDsVotingHealth / Safety InspectionsBuilding permitsGun permitsForensic evidenceCourt recordsVoting recordsNon-profit recordsGovernment/non-profit accounting/transparency

III. Private Records

ContractsSignaturesWillsTrustsEscrowsGPS trails (personal)

IV. Other Semi-Public Records

DegreeCertificationsLearning OutcomesGradesHR records (salary, performance reviews, accomplishment)Medical recordsAccounting recordsBusiness transaction recordsGenome dataGPS trails (institutional)Delivery recordsArbitration

V. Physical Asset Keys Home / apartment keysVacation home / timeshare keysHotel room keysCar keysRental car keysLeased cars keysLocker keysSafety deposit box keysPackage delivery (split key between delivery firm and receiver)Betting recordsFantasy sports records (!)

VI. Intangibles (?) CouponsVouchersReservations (restaurants, hotels, queues, etc)Movie ticketsPatentsCopyrightsTrademarksSoftware licensesVideogame licensesMusic/movie/book licenses (DRM)Domain namesOnline identitiesProof of authorship / Proof of prior art

VI. Other Documentary records (photos, audio, video)Data records (sports scores, temperature, etc)Sim CardsGPS network identityGun unlock codesWeapons unlock codesNuclear launch codes (!)Spam control (micro-payments for posting)

THE INTERNET OF PROPERTY

Bitcoin will make property flow like the internet made content flow

No single point of failure/control/censorshipNot every centralized function had/has a decentralized counterpart, bookkeeping now does

NOT JUST A DATABASEBUT DECENTRALIZED

Key to understanding the blockchainis understanding ‘decentralisation’

BITCOIN BEHIND THE CURTAINS:CRYPTOGRAPHY, ALGORITHMS AND MINING

BITCOIN:BLUEPRINT FOR CRYPTOCURRENCIES

REAL INVENTION IS THE BLOCKCHAIN

Every bitcoin node is equal and (in principle)- runs the same program - has the same, full copy of the ledger

Very effective, resilient and scalable but also: - massive redundancy and inefficiency

Current implementation is not up to ‘the’ task:- slow (confirmations take 10m)- limited (transaction volume) - too large for true distributed use (ledger is 42TB currently)

BLOCKCHAIN

A decentralized, internetted ledger that makes any property (including money) ‘cash’, transparent and undisputed

Allows transactions to be done without the need for trust or third parties. It is (like cash money) a true peer to peer solution.

Simple functionality, complicated technology

DECENTRALISED AUTONOMOUS CORPORATIONS

Algorithmic companies that run on millions of computers at the

same time, without a single point of failure, control or

censorship.

NEW BLOCKCHAINS:EVEN SMARTER LEDGERS, NOT JUST DATA, CODE TOO

LA’ZOOZ:‘UBER’ IMPLEMENTED AS A DAC

http://www.slideshare.net/patricksavalle/bitcoin-20