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Bitcoin and the New Economy
The document summarizes key topics from a conference on Bitcoin and the new economy. It discusses how blockchain and cryptocurrency can transfer value in the future similarly to how the internet transfers information. It then defines traditional currencies compared to cryptocurrencies, explaining how cryptocurrencies operate in a decentralized manner without being backed by any government or central bank. The document also outlines some industry projections on blockchain market growth and impact across areas like supply chains, banking, and trade finance.
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Bitcoin and the New Economy
- 1. NAF CONFERENCE 2021 BITCOIN ANDTHE NEW ECONOMY By Amilcar Chavarria, CEO of FinTech School
- 3. The Internet Transfer ofInformation Blockchain & Crypto Transfer of Value
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- 10. To Learn MoreVisit: www.fintechschool.com How will value be transferred in the future? SEAMLESSLY, THE SAME WAY WE EXCHANGE INFO
- 12. ENTER THE WORLDOF CRYPTOCURRENCY
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- 14. To Learn MoreVisit: www.fintechschool.com WHAT IS A TRADITIONAL CURRENCY? CENTRALIZED Backed by the assets of a central government. A "Central Bank" enables all transactions to occur BACKED BY "SOMETHING" Backed by the reserves or willingness to pay from a soverign entity STORAGE OF VALUE Some cryptos do not fluctuate in value or have a "scarcity" component to them FLUCTUATES IN VALUE Some cryptos, like most Fiat Currencies, fluctuate in value
- 16. To Learn MoreVisit: www.fintechschool.com WHAT IS A CRYPTOCURRENCY? DECENTRALIZED No one controls the network as it has inherent consensus algorithms built in. NOT BACKED BY ANYTHING In the case of BTC, there are only a finite number of coins that can be mined. 21mm to be precise. FORM OF TENDER Can be used instead of cash, credit or digital P2P payment option. SOME FLUCTUATE IN VALUE Just like Fiat Currencies, Cryptocurrencies also flcuate in value relative to other cryptos or fiat currencies.
- 17. FinTech School Define a Blockchain Onlyinvitees can join the network and contribute or transact. Controls are centralized. PERMISSION BASED Anyone can join the network and contribute or transact. Controls are decentralized. PERMISSIONLESS BLOCKCHAINS There are manty examples leveraging a combination of permissions and cryptos issued to the public. HYBRIDS
- 19. www.fintechschool.com PROOF OF WORK Whatdoes the mining process look like for the Bitcoin network to work? Pros & Cons PROOF OF STAKE How does the staking process work?. What's different about Ethereum? Pros & Cons
- 20. INDUSTRY PROJECTIONS MARKETS ANDMARKETS ~67.3% The global Blockchain market size is expected to grow from USD 3.0 billion in 2020 to USD 39.7 billion by 2025, at an impressive Compound Annual Growth Rate (CAGR) of 67.3% during 2020–2025.
- 21. www.fintechschool.com <$5 COST OF AREMITTANCE ON TRANSFERWISE $50+ COST OF A WIRE 5 YEARS AGO
- 22. To Learn MoreVisit: www.fintechschool.com INDUSTRY IMPACT SUPPLY CHAINS Providing transparency, ethical traceability, and efficiency to supply chains. GAMES Transferring game credits and value for assets. Sharing your "Device Power". TRADE FINANCE Settlement of cross-border payments that are 1) rules-based and 2) real-time BANKING Enabling settlement of different payment and trade types. For individuals and institutions.
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- 32. Gaming Credits CASE STUDY How areBlockchain, Gaming and Crypto- focused companies leveraging your computing power to make money for you and them. To Learn More Visit: www.fintechschool.com
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- 38. FinTech School Getting Started Be creative.Be Bold. Don't be afraid. Do your homework. Learn, then Earn. JOINING A STARTUP OR PROJECT Choose your team wisely. Need to build a product and build a market. Focus on 5Ps: People, Product, Process, Profit and Purpose. Love it or Leave it. CREATING YOUR OWN Focus on 3Es: Experience, Exposure and Education. You are on your way to college. The Exposure and Experience are less structured and you can make a difference on those any day. SKILL DEVELOPMENT
- 39. BEWARE! DO YOUR HOMEWORK DONOT JUMP INTO CRYPTO WITHOUT PROPER DUE DILIGENCE AND SOME ADULT COUNSEL