Innovative Business Solutions - A New Way to Bank by Wences Casares
•Descargar como PPTX, PDF•
1 recomendación•418 vistas
Globant and the California College of the Arts (CCA) got together to present CON.VERGE, their first conference for business executives and thought-leaders. Wences is a technology entrepreneur and advocate of the bitcoin revolution, with global business experience specializing in technology and financial ventures. Xapo is a bitcoin wallet and vault startup described by the Wall Street journal as the Fort Knox of bitcoin storage. Wences explained the idea of Bitcoins and how it is a new way to bank. Check out his presentation for more details.
Recomendados
Más contenido relacionado
Destacado
Destacado (20)
Similar a Innovative Business Solutions - A New Way to Bank by Wences Casares
Similar a Innovative Business Solutions - A New Way to Bank by Wences Casares (20)
Más de Globant
Más de Globant (20)
Último
Último (20)
Innovative Business Solutions - A New Way to Bank by Wences Casares
- 1. A new way to bank
- 2. @wences When the Genius points at the Moon Chinese proverb @wences
- 3. @wences When the Genius points at the Moon, the Fool looks at the Finger @wences
- 4. @wences regulation security legal real trend malleability money value ? ? ? ? ? Bitcoin discussion When the Genius points at the Moon, the Fool looks at the Finger @wences
- 5. @wences When the Genius points at the Moon, regulation security legal real trend malleability money value bitcoin Bitcoin discussion The best form of money civilization has ever seen The best form of money civilization has ever seen ... doing to money what TCP/IP did to information the Fool looks at the Finger @wences
- 6. @wences The history of money 100,000 years ago
- 7. @wences The history of money
- 8. @wences Qualities of sound money Scarce Divisible Portable Durable FungibleRecognizable
- 9. @wences Functions of sound money Scarce Divisible Portable Durable FungibleRecognizableScarce Store ofValue Payment Mechanism
- 10. @wences The history of money
- 11. @wences The history of money
- 12. @wences 1450 1530 1640 1720 1815 1920 The history of money
- 13. @wences Three myths about money 1 it is born out ofit is transferable by an asset 2 it is just a exists because it is 3 it exists because of a
- 14. @wences Qualities of sound money Scarce Divisible Portable Durable FungibleRecognizable
- 15. @wences WHAT MAKES BITCOIN SPECIAL SCARCE NO ONE 21MILLION BITCOIN THE BEST FORM OF MONEY CONTROLS IT + 100,000 servers FREELY TRANSFERABLE BITCOIN WE HAVE EVER SEEN
- 16. @wences 2 FUNCTIONS OF MONEY STORE OF VALUE PAYMENT MECHANISM
- 17. @wences STORE OF VALUE SAVINGS GOLD FOR 5,000 YEARS BITCOIN BEST STORE OF VALUE EVER: SCARCITY (21M) NOW
- 20. @wences BITCOIN NETWORK EFFECTS 50% 50% 2014 All other cryptocurrencies Bitcoinvs.
- 21. @wences BITCOIN NETWORK EFFECTS 50% 50% 20142015 All other cryptocurrencies Bitcoinvs. Bitcoinvs. 4% 96%
- 22. @wences 2015 BITCOIN NETWORK EFFECTS In five years…
- 23. @wences THE GLOBAL NATIVE DIGITAL CURRENCY OF THE INTERNET META-CURRENCY
- 24. @wences 1 BITCOIN = $10 $100 $1K 50,000 500,000 5 MILLION $ 1 MILLION $ 1 MILLION
- 25. @wences 1% INVESTMENT FOR X4000 RETURN 1% x40 your entire portfolio
- 26. @wences Landline phones vs. Mobile phones 1.3 BILLION PEOPLE 6.3 BILLION PEOPLE
- 27. @wences 1.3 BILLION PEOPLE Landline phones vs. Credit Cards Mobile phones 6.3 BILLION PEOPLE Transacting Bitcoins
- 28. A new way to bank
Notas del editor
- Like the Internet itself, no person, company or government controls Bitcoin. It is an open source protocol that runs on hundreds of thousands os servers all around the world No one can change that. It is perfectly scarce and each bitcoin is made of 1 million bits; it is very easy to divide. You can send bitcoins to anyone in the world, in real time and for free without asking anyone for permission. Without intermediaries These 3 qualities may make Bitcoin the best form of money we have ever seen
- Until now the best form of money to store value has been gold exclusively due to its scarcity. For the last 5,000 no other form of money has been able to store value as safle as gold has kept value. The US dollar, the swiss franc and the yen have all lost more than 90% of their value in the last 100 years. If you won a lottery that your descendants could only cash 300 years from know and you need to leave it in one asset the only rational options is Gold. Gold has proven to be a great store of value because of its scarcity, but it has no intrinsic value just like all good forms of money do not have any intrinsic value. Bitcoin is the best store of value we have ever seen because it is perfectly scarce: there will never be more than 21 million bitcoins.
- The most accepted form of payment right now are dollar bills; billions of people around the world accept them. There are only 30 million merchants who accept credit cards, and 170 million people who use Paypal, but billions of people will accept dollar bills. But it needs to be a transaction that happens in person, the moment we want to transact with dollars not in person we need an intermediary: a credit card company, a bank, Paypal, etc.
- Bitcoin represent the first time ever in which you can send a payment to anyone, anywhere in the world, in real time and for free. It is the best form of payment we have ever seen.
- Protocols have strong network effects, for example email: it would be easy to come up with a better email protocol but it would be hard to get people to switch and use it instead of email. Money also has strong network effects; to get people to develop a social consensus around a new form of money, which does not have any intrinsic value, and attach value to it takes time and it is very hard to create artificially. It tooks thousands of years to develop that network effect around gold and around national curriencies. Bitcoin already has 12 million users when all other cryptcurrencies have a combined user base of 50,000 users. Bitcoin is adding 100,000 users a week, which is more than all the other crytopcurrencies combined ever added. One year ago Bitcoin was 50% of all cryptocurrencies volume and 90 other currencies where the other 50%,
- Today Bitcoin is 96% of all cryptocurrencies volume and 220 other cryptocurrencies represent the other 4%. It will take one or two decades for Bitcoin to reach billions of people, like it took the Internet decades to reach billions of people, but it will happen and it will be Bitcoin.
- Today Bitcoin is 96% of all cryptocurrencies volume and 220 other cryptocurrencies represent the other 4%. It will take one or two decades for Bitcoin to reach billions of people, like it took the Internet decades to reach billions of people, but it will happen and it will be Bitcoin.
- When Bitcoin succeeds it will not replace any national currency, the US Dollar, the Euro, the Japanese Yen and most other currencies will remain but Bitcoin will become the Native Digital Currency of the Internet and, as such, it will be a global meta-currency that sits on top of all other currencies and acts as a backbone for all other currencies.
- Bitcoin has significant chances of failing and being worth zero. But when there were only 50,000 who owned bitcoins its maximum value was $10 per bitcoin, when there was 500,000 people who owned any bitcoins its maximum value was $100, when there was 5,000,000 people who owned any bitcoins its maximum value was $1,000 in the future when we reach 50,000,000 people owning bitcoin it will reach $10,000 per bitcoin, when there are 500,000,000 people owning bitcoin it will reach $100,000 per bitcoin and when there are 5 billion people owning bitcoin it will reach $1 million per bitcoin.
- Bitcoin is an experiment and, as such, there are significant chances that it fails and it is worth zero. Therefore it would be irresponsible to invest any amount in bitcoins that you cannot afford to loose. But it makes sense to invest up to 1% of one's savings or porfolio in bitcoins: if it fails the loss is limited to 1% of the portfolio but if it succeeds that 1% can be worth up to 40 times your entire savings or portfolio. It is a very asymetrical bet that is worth doing.
- 1.3 billion people ever had a telephone landline. 6.3 billion people have a mobile phone today.
- 1.3 billion people ever had a telephone landline. 6.3 billion people have a mobile phone today.