Where Money and Technology Meet Cryptocurrency Where Money and Technology Meet

Introduction Why Cryptocurrency? Virtual Wallet Topics to Cover: Anonymity Low Cost Transactions Security Virtual Wallet Topics to Cover: Blockchain Technology Mining Common Currencies Cryptocurrency Adoption

A video explanation https://vimeo.com/206253172 What is Blockchain? A video explanation https://vimeo.com/206253172

How is Blockchain Different from Traditional Models? Centralized  Decentralized

How is Blockchain Different from Traditional Models? Distributed Network (Peer-to- Peer) Public ledger accessible to everyone and controlled by no one Cuts out the middle man

Blockchain Isn't Just for Cryptocurrencies Walmart – Started tracking how pigs from China move through the supply chain to the American table in 2016 Everledger – Registered 40 identifying characteristics of more than a million diamonds in order to alleviate concerns over a stone's origins and authenticity Legal Firms – Looking to create "smart contracts" that will execute themselves Banking – Looking to expedite basic transactions such as stock sales and money transfers Source:  Hackett, Robert.  "Blockchain Mania."  Fortune.  September 1, 2017.

Cryptocurrency Mining https://www.youtube.com/watch?v=GmOzih6I 1zs

Clarifications What are the math problems? The "problem" is to create a correct "hash" using a repeating algorithm.  This really isn't a "problem", it's more like a roll of the dice.  Why do these problems need to be solved? The "problem" is not important, what's important is that it takes time to solve it, and time is money. Who is rewarding bitcoins to the problem solvers? When the code for Bitcoin was written, the anonymous writer embedded rewards in his/her code that accompanied each new block.

Types of Cryptocurrency: Bitcoin Created in 2009 under the name "Satoshi Nakamoto" Open-source software, allowing for peer-to-peer transactions Most commonly used type of cryptocurrency Classified as a digital asset or digital currency

Types of Cryptocurrency: Bitcoin Bitcoin has increased in price since inception Volatility was initially a concern Source: Wikipedia, Bitcoin

Types of Cryptocurrency: Bitcoin Adoption is becoming more common In 2015, over 100,000 vendors accepted Bitcoin Bitcoin offers much lower fees to merchants than credit card companies Some users see Bitcoin as a way to protect their savings in highly volatile markets

Types of Cryptocurrency: Litecoin One of the first cryptocurrencies after Bitcoin Introduced in October 2011 by Charlie Lee Tagged the silver to the digital gold of Bitcoin Actively developed and traded Hoarded as a backup if Bitcoin fails

Types of Cryptocurrency: Litecoin Substantial industry support, trade volume, and liquidity Complementary to Bitcoin Allows a greater number of transactions to be processed by the network, reducing potential bottlenecks as seen with Bitcoin (2.5 minutes to process every block vs. 10 min) Has an almost zero payment cost Facilitates payments approx. 4x faster than Bitcoin As of August 2017, market capitalization was $2,253,184,567 at around $42.94 per coin

Types of Cryptocurrency: Ethereum Invented by Vitalik Buterin in 2013 Not actually a cryptocurrency Open-Source Platform Ether is the cryptocurrency For more than just peer to peer exchanges

Types of Cryptocurrency: Ethereum Ethereum Uses/Apps: Weifund: Crowdfunding/ICOs DECNTREX: Smart Contracts EthCrow: Escrow Services Trippki: Hotel Booking & Rewards Programs How to Access: Browsers: Mist or MetaMask Classes / Coders

Types of Cryptocurrency: Ethereum The Future Varying Predictions Six Transactions / Second Bringing Blockchain to everyone Endless Possibilities

Barriers to Adoption: Lack of Demand/Understanding Fragmentation Network Effects Volatility Governmental/Regulations

Accepting Bitcoin:

Conclusion Blockchain technology has a number of unique applications, including cryptocurrency, and is here to stay Some of the biggest challenges facing cryptocurrency adoption are: Fragmentation Volatility Cryptocurrencies can be a highly rewarding yet risky investment product