Digital Currencies: a Challenge for Luxembourg Financial Sector? - - PowerPoint PPT Presentation

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Digital Currencies: a Challenge for Luxembourg Financial Sector? - - PowerPoint PPT Presentation

Dec 06, 2022 328 likes •664 views

Digital Currencies: a Challenge for Luxembourg Financial Sector? Fintech APSI Day 26 th March by Chris Marcilla Head of Virtual Currencies Working Group The Tree that hides the Forest Blockchain Sidechain Smart Contracts Blockchain 2.0

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Digital Currencies: a Challenge for Luxembourg Financial Sector?

Fintech APSI Day – 26th March by Chris Marcilla Head of Virtual Currencies Working Group

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The Tree that hides the Forest

Blockchain Secure Sidechain Private Fast Blockchain 2.0 Remittances Transparent Smart Contracts Authentication Storage Value Cash-like 2

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Satoshi Nakamoto, Founder of Bitcoin VOLATILITY NO CENTRAL AUTHORITY

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TECHNOLOGY

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What is Bitcoin?

PEER TO PEER OPEN SOURCE DECENTRALIZED NO CENTRAL CONTROL

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What is Bitcoin?

EVERY TRANSACTION IS RECORDED IN A PUBLIC LEDGER:

‘THE BLOCKCHAIN’

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How does work a bitcoin transaction?

Address AAA Address BBB 5 BTC 2 BTC

AAA = 5 BTC BBB = 2 BTC

JOHN MARY

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How does work a bitcoin transaction?

Address AAA Address BBB 5 BTC 2 BTC

AAA = 5 BTC BBB = 2 BTC

JOHN MARY Pushing Transaction 3 BTC COMPETITION VALIDATION 10’ REWARD

MINING

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How does work a bitcoin transaction?

Address AAA Address BBB 5 BTC 2 BTC

AAA = 5 BTC BBB = 2 BTC

JOHN MARY Pushing Transaction 3 BTC COMPETITION VALIDATION 10’ REWARD

MINING

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How does work a bitcoin transaction?

Address AAA Address BBB 2 BTC 5 BTC

AAA = 2 BTC BBB = 5 BTC

JOHN MARY Group Consensus Validation

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bitcoin is SCARCE

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bitcoin is DIVISIBLE

100 cents 100 000 000 Satoshis

Minimum Transaction = Less than 1 cent

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bitcoin is TRANSPORTABLE

Small or no Fee Anywhere Real time

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bitcoin is FUNGIBLE

History of every bitcoin is public

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bitcoin is NOT ANONYMOUS

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Value Storage Value Transfer Payments Privacy Instantaneous Free

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Digital Currencies for Banks

Today 2-4 days 3-5 seconds CROSS-BORDERS TRANSFERS IN LESS THAN ONE HOUR?

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Digital Currencies for Funds

SMART CONTRACTS SECURITIES CREATION CUSTODY DISTRIBUTION

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Why 100 k Merchants Accept Bitcoin?

COST SAVINGS RISK ELIMINATION GLOBAL REACH HIGH FEES FRAUD & CHARGEBACKS CROSS BORDER INTERCHANGE NEW CUSTOMERS CUSTOMER CAN DISPUTE

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Hedging bitcoin Volatility

OTC REGULATED MARKETS FORWARDS, SWAPS AND FUTURES UP TO 2 YEARS

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Bitcoin Regulation

FEB 2014 : CSSF IS OPEN FOR BUSINESS FEB 2015 : BITLICENSE PUBLISHED MAR 2015 : REGULATION TO COME

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GAMES OF THRONES

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Source: Pantera Capital

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$ 260.0

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Digital Photography in 1995

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Digital Photography in 1995

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Services Digitization

41 Billions 10 Billions 10 Billions 10 Billions

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Who wants to be Uber-ized?

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THANK YOU.

@chris_marcilla

Thanks to:

Virtual Currencies Working Group

Contact: cmarcilla@accm.lu

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