1. BitCoin An overview

2. Why ?

3. First crypto-currency

4. Basics – Public key cryptography

5. How BitCoin ecosystem works ?

6. A wallet to start off

7. BitCoin transaction

8. The new Gold Rush

9. Genesis Block

10. Mining Details Hash strings beginning with 0’s Mining program is open source! Generate a new block by taking an existing block, set of transactions and a nonce Current target hash – less or equal is accepted Difficulty – set by the network Transaction fees to incentivize new block gen. Become part of a pool

11. THE Network BitCoin network – one and only Decentralized and open to all Low transaction fees Constant bitcoin generation (10 min / block) 100 petaFLOPs Irrevocable transactions

12. Advantages Almost 0 processing fee – across the world No need of a bank account ! Equal chance of mining Anyone can create an exchange Anonymity Businesses accept bitcoins ( wordpress, baidu, reddit, etc.. ) Financial Control – no one can question

13. Wait.. But..

14. Concerns BitCoin is anti-inflationary No central authority – double edged sword Hacker prone – tough to be exceed 30 trillion calculations per second and 100 petaFLOPs – but possible Regulatory uncertainty Secure your wallets – digitally! Volatile exchange prices

15. Predictions.. Present day disruptions thanks to P2P systems – Telephone ---> VOIP (skype / hangout) – SMS – almost obsolete – File transfers / music players – Mail (post boxes as antiques ? ) Banks – do we really need them ? Decentralized and global financial system – Money over Internet !

16. Opportunities A new way to transact – Irrevocable transactions (adv : E-Comm sites) Innovative applications – money reaches where banks can’t reach World-wide system – Forex (what’s that ?) Optimizing face-to-face transactions – cannot replace credit cards. Minimum 10 mins to confirm

17. Thank You