Crypto-Currency & The Blockchain Optimizing the Local Economy - - PowerPoint PPT Presentation

Crypto-Currency & The Blockchain

Optimizing the Local Economy

Prepared by: Paul Busch paul@bitswift.tech

Background History / Quick Summary

Growing up Education Work Experience Technology Tech companies Crypto / Blockchain Alternative Economics Autonomous Societies Economy 2.0

The Basics : Bitcoin vs Blockchain ?

Bitcoin is a digital currency Blockchain is the technology behind it Blockchain can power many apps (not just currency) There are many different types of blockchain platforms

Bitcoin, What classifies as a currency ?

Traits of traditional currency: Scarce Divisible Durable Interchangeable A medium for exchange A store of value A measurement of value A unit of account A shared ledger Whatever a community decides

Types of currency used

Examples (Commodity currencies & Fiat):

• Gold, Silver, Precious Metals, Jewelry
• Tulips, Mashed Potatoes, Salt
• Playing cards, Pearls, Pelts
• Notes and coins

The trend is to move digital : Digital Currency Virtual Currency Crypto-Currency

• Blockchain based, Open source, Public Ledger,
• Compatible, Community Driven, No controller

Problems with Monetary and Economy 1.0

• Currency subject to devaluation, inflation
• Fake notes and coins (Security and trust issues)
• Central trust, management, mint, verification and friction
• Heavy, bulk, not easy to transfer
• Requires middle men processors and fees
• Not equipped for autonomous society of tomorrow (where are the jobs going to be at ?)
• Promotes separation of citizens
• System is backed by debt, which does not make sense or cents

What is a Blockchain and what problems can it solve ?

• A shared, public, distributed ledger
• Immutable chain of events with time stamping and verification
• Tamper proof storage
• Accessible, Open, Transparent
• Autonomous conditional transactions and processes
• Can not be turned off, shut down or controlled by any central party
• A universal system for an accessible Economy 2.0, a peer to peer economy, which

exists without middle men, dividers or controllers

• Supports nextgen business models (micro txns, p2p lending, autonomous corps)

Blockchain tech will advance industries

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Types of Tokens and Discussing their Applications for your Business

• Currency tokens— Tokens like Bitcoin, Monero, Litecoin, Etc
• Utility tokens— Tokens that allow you to use or perform an activity on a

network, such as ETH or Bitswift. On the Bitswift network you would need to spend Bitswift tokens to register an alias.

• Asset tokens— Tokens that represent an actual asset or product, either

physical or digital.

• Equity tokens — Tokens that basically act like a share, and gives you some

kind of voting right or consensus participation

• Reward and incentive tokens - Tokens that represent value tailored for a

specific function or purpose

Benefits of blockchain based Crypto-currency

You and only you are in control Volatile Hacks and scams Technical and ecosystem learning curve Compatibility Adoption level Lack of formalized support - satoshi on vacation High Fees (in some cases) Graphics card prices have increased, so gaming is expensive

• You and only you are in control
• Low fees (Depending)
• No chargebacks
• Easily transportable
• Instant global transactions
• Convertible
• Secured through blockchain
• Low friction
• Automatic Interest
• Predictable inflation and total supply
• Open source
• Open ledger
• Always on and open / accessible
• Community backed
• New Business models

Disadvantages of blockchain based Crypto-currency

Boosting the local economy

Go digital - Go cashless Remove the middle men Remove fees and friction Enable alternative payment options which benefit you and your customers Enable microtransactions and new business models, new sales options and new opportunities Create value and share it, pass it down to the consumers stimulate the economy Control and manage your own assets Trust in community, trust in transparent ledgers Integrate secure and reliable autonomous systems

The workplace of tomorrow looks much different from today, and we should be preparing for it. Automation and AI are coming faster than you think.

Understanding Blockchain Token Ecosystems

Exchanges

Fiat to Crypto, Crypto to Crypto

Wallets

Software based Hardware based

Merchant Platforms

Bitpay, Coinbase, Bitswift Merchant

Miners / Stakers

Transaction Processors Minters

Blockchain Markets & Options

coinmarketcap.com

Digital Currency Exchanges

Allow you to convert between alternate commodity and fiat based currencies Centralized Exchanges

• Quadriga
• Bitstamp
• Bittrex

Decentralized Exchanges

• Ardor Coin Exchange (ACE)
• OpenLedger DEX

Types of Hardware Wallets Different blockchain networks each have their own separate wallet applications which interface with their blockchain Hardware and software based wallets may support multiple tokens Use wallets in which you remain in control of your private key Exchanges do not make good wallets Web based wallets: https://bitswift.network

https://bitcoin.org/en/choose-your-wallet

Software wallets are just apps on your device

Merchants, how and who is accepting crypto / blockchain tokens ?

Overstock.com, Expedia, Newegg, Shopify Stores, Gyft, Dell, Bitcoincards, Dish, Microsoft, Intuit, Steam, Virgin Galactic, Wikipedia, Namecheap, OkCupid, Tesla, Mega many many more.

Merchant Processors Process crypto payments on behalf of merchants Allow conversion % to fiat

Miners secure the blockchain network and may mint new currency Rewarded in crypto-currency at a rate the blockchain protocol defines Anyone can invest in mining or staking / bundling and participate in processing transactions and securing the network Mining can be expensive, requires hardware, software and technical capability

Mining, Staking, Bundling

Fact : Bitcoin Mining Now Consuming More Electricity Than 159 Countries Including Ireland & Most Countries In Africa: Research by energy tariff

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My Closing Thoughts

Why are we collectively opting to continue to use an outdated monetary system which is built upon debts, stifles growth, promotes competition and is not equipped for the economy of tomorrow. As lifestyles turn digital, the line will become thin as to when a virtual economy stops and where the physical economy begins. At some point they will intersect. Communities create currencies. Money and wealth naturally flow up stream, not down. Install a new system that makes cents in the hands of the people on the bottom, and watch it flow back up. Perhaps taxes could be made irrelevant along with man made poverty itself. The token economy is real, it’s coming, people like us will install and support it. Keep the value in the new system, you will be better off in the long term.

Bitswift Summary

Bitswift Technology Solutions

• Bitswift.tech , Bitswift.shop

Bitswift Decentralized Applications

• Bitswift.network, Bitswift Blockchain

Tokens

Thank you for your attention and participation.

Paul Busch paul@bitswift.tech Bitswift Decentralized Applications Inc Bitswift Technology Solutions Inc