Bit Coins are one most disruptive technologies in recent times with an impact that may ultimately be as big as the internet. Bitcoin uses peer-to-peer technology to operate with no central authority or banks. Managing transactions and the issuing of bitcoins is carried out collectively within a network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and anyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system. Bitcoin is a virtual currency and the Bitcoin user experience will be very important for widespread adoption and use. In my talk I am going to talk about the evolution of currency, crypto currencies and Bit Coins. I will also discuss Bitcoin experiences and the Bitcoin platform eco-system, Bit Coin facts, and the possible future of Bit Coins.

1. BitCoining
Experience
Ranjeet Tayi User Experience Designer & Strategist
10th October 2014

2. GO BACK
TO PAST

3. Before 600BC
http://4.bp.blogspot.com/
Bartering
Livestock, Tools & Food

4. Coins
600 BC - Present

5. Paper Money
806 AD – Present

6. Cheque
331 BC – Present
Printed cheque 350 years old today.

7. The Gold Standard
1816
Present
1900
1930

8. Closed
Hybrid
Open
Next - Virtual Currency

9. 100 Coins
=
1 Life
Closed
X 100 = 1Life

10. Semi Closed

11. Hybrid
Chunk E Cheese Tokens and Tickets

12. Hybrid

13. 1996
2012
1998
1999
1990
1994
2006
2009
Failed and Discontinued Currencies

14. Crypto Currencies

15. Bit Coin Bubble
1 BTC = ~Rs.21000

16. Centralized Network
De Centralized Network

17. Mining
21 Million
Total # Bitcoins ever
2140
Last year to be mined

19. Distribution of bitcoin. Source: State of Bitcoin 2014

20. Wallet

21. Transfer
•
Email
•
Bit Coin Address

22. Block Chain

23. 70+
Bitcoin Exchanges

24. Buying Bit Coins

25. Bitcoin Payments

27. Bit Coin ATM

30. Silk Road
9.5 M
Collected Bitcoin in revenue
FEB
2011
JULY
2013
$1.2 Billion worth of business

31. Lack of international acknowledgement
Banned in China and Thailand. Developed set of regulations by USA and Canada. Imposed taxes on BTC revenue by Germany.
~Wikipedia

32. Alt Coins

33. What does LIKE mean in Facebook?

34. Payment freedom & Low Fee
Fewer risks for merchants
Security and control
Transparent and neutral
Micro transactions Global
Degree of acceptance Volatility Wallets can be lost Lack of price stability. No buyer protection Lack of regulations

35. http://revistadonna.clicrbs.com.br/porai/2013/01/12/vida-longa-ao-papel/
UX Challenges
•
Difficult to Understand.
•
It is based on mathematics. Only top mathematicians and cryptographers understand the algorithms.
•
Long address, very difficult to remember
•
Lack of trust on digital money.
•
There are many Bitcoin wallet’s and every UI looks & behaves very different.
•
Governments are unclear about BTC.
•
Challenges with illegal usage.
•
Not clear, what to do with Bitcoins?
•
Ongoing development, still in beta.
•
Still a newbie, can’t predict future.
•
The psychology of decimals.
1Mx3dNbiXLtYLiJq8F9BbriiLgRRhS34RA

36. http://bitcoinmagazine.com/8274/the-psychology-of-decimals/

37. Start Up’s
Jobs
Regulations

38. Ux’er. Ranjeet Tayi www.ranjeeth.com
I ACCEPT BITCOINS
I believe Bitcoin is a great, recent innovation. I remain neutral about bitcoin itself, but am very excited by the mining methodology and use of bitcoins. Over time, the technology will become more secure and governments will develop policies and regulations that help create secure transaction environments.
References
https://bitcoin.org/
#jamesgagliardi
https://www.iconfinder.com
http://en.wikipedia.org/wiki/Bitcoin
http://bitcoinmagazine.com/8274/the-psychology-of-decimals/
http://sapientnitroblog.com/post/63066867197/the-future-of-money
Thanks a TON!