David Moskowitz - History of Digital Money, CSWGlobal14
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Presented at Crowdsourcing Week Global 2014 by David Moskowitz, CEO of Coin Republic. Join us for CSW Global 2015! More Information: http://crowdsourcingweek.com/ and https://twitter.com/CrowdWeek
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David Moskowitz - History of Digital Money, CSWGlobal14
- 1. A Brief History of Digital Money David Moskowitz
- 2. What is Money? • Means of Exchange • Store of Value • Unit of Account • Easy to Divide and Transport • Low Cost to Preserve • Resistant to Counterfeiting
- 3. What is Digital Money? • Electronic version of existing money system • Purely digital entity, no physical start
- 4. Electronic Dollars • Western Union (EFT) 1860 • Fed Reserve – Magnetic Reels: Late 1940’s • Diners Club Credit Card 1960 • SABRE Reservation System 1964 • Digicash 1990 • Paypal 1998
- 5. Electronic Money - Commodity • E-gold 1996 - 2007/09 • Liberty Reserve 2006 – 2011/13
- 6. Digital Money - Floating • Air Miles 1980 • Linden Dollars (Second Life) 2005 • Amazon / Facebook
- 7. What is Bitcoin? • Created in 2008, released 2009 ‘Satoshi Nakamoto’ • Public Ledger (The Blockchain) • Decentralized “Trust”
- 8. What is Bitcoin? • Public Ledger (The Blockchain) • Mining – verifies transactions • Adds last 10 minutes into a block • Adds that block to the ledger
- 9. What is Bitcoin? • Public Key – your account number • Private Key – your key to get access/ownership • Send to and from the public key • Can generate a near infinite number of public keys
- 10. What is Bitcoin? • Currency/Payments is the first “App” • Bitcoin the Protocol
- 12. Thank You!