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Introduction to blockchain 2018

Presentation files from the ACG event in San Diego, CA - January 9th 2018

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Introduction to blockchain 2018

  1. 1. INTRODUCTION TO BLOCKCHAIN THE INTERNET OF VALUE EXCHANGE
  2. 2. Internet: Past / Present / Future Time Space Past Future
  3. 3. State of Money
  4. 4. Functions of Money
  5. 5. A Peer-to-Peer Electronic Cash System 9 Page whitepaper | October 2008 A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. Satoshi Nakamoto
  6. 6. •Open source (with exceptions) •Shared Records No Central Authority •Time-Stamped •Hashed Immutable Record Keeping •Solution to ‘double-spend’ problem •Proof-of-Work by Miners Chained by Cryptography Blockchain Basics
  7. 7. Blocks
  8. 8. Cryptocurrency Mining & Halving • Total bitcoins to-be-mined: 21,000,000 • Mining reward bitcoin blockchain initially BTC50 ($857,450) • Halves every 210,000 blocks / now: BTC12.5 ($190,000) • New block every ~10 Minutes • Current rate 1,800 new bitcoins per day www.bitcoinblockhalf.com
  9. 9. •bitcoin $255B ($15.2k) •bitcoin cash $40B ($2.4k) •bitcoin gold $4B ($243) Forking
  10. 10. Contract written as code Contract becomes part of Contract parties may on blockchain public blockchain stay anonymous Contract executes by itself Transaction recorded when conditions are met (optional 3rd party validation) Smart Contracts
  11. 11. Near-term Blockchain Solutions
  12. 12. Initial Coin Offerings (ICOs) 235 projects / $3.7B
  13. 13. Investments by Category Infrastructure Trading & Investing Finance Payments Data Storage Healthcare & Drugs Gaming and VR
  14. 14. Top Ten ICOs 2017 Project Raised Filecoin $257,000,00 0 Tezos $232,319,98 5 EOS Stage 1 $185,000,00 0 Paragon $183,157,27 5 Bancor $153,000,00 0 Kin $97,041,936 Status $90,000,000 TenX $64,000,000
  15. 15. For what it’s worth Your text here $1.4 billion (January 2018)
  16. 16. Basic Blockchain Economics: Gas Prices 10/10/2017 11/15/2017 1/8/2018
  17. 17. Top 20 Exchanges
  18. 18. What Crypto can Buy
  19. 19. Bitcoin ATMs
  20. 20. Security • Digital bearer instrument • Private key held by owner • Users are in charge of security • Cold storage most secure option
  21. 21. Bitcoin Futures Trading
  22. 22. Market Returns $1,000 invested in bitcoin in January 2013 ($13) would be $1.1m at the end of 2017 (1,087x
  23. 23. Legal Status US / World
  24. 24. State Laws
  25. 25. Cryptocurrency Wallets Worldwide

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