37coins: Hubba Bitcoin Intro, Jonathan Zobro
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Transcript of 37coins: Hubba Bitcoin Intro, Jonathan Zobro
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What is Bitcoin? Why Bitcoin? Chicken and Egg The Problem User Adoption Liquidity
37coins
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WHAT IS BITCOIN?
Decentralized Opensource Pseudonymous Electronic Currency…
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Decentralized Opensource Pseudonymous Electronic Currency
NO ONE can block your payment No middleman - low fees
central authority
Controlled by one authority Controlled by community
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Decentralized Opensource Pseudonymous Electronic Currency
Transparent system of transaction Understandable inflation
Zimbabwe's peak month of inflation is estimated at 79.6 billion percent …
http://www.munknee.com/21-countries-have-experienced-hyperinflation-in-last-25-years-is-the-u-s-next/
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Decentralized Opensource Pseudonymous Electronic Currency
Private, Safe
or a mobile number
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Decentralized Opensource Pseudonymous Electronic Currency
Fast Not limited to physical places
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Decentralized Opensource Pseudonymous Electronic Currency
Unit of account Exchange for fiat Exchange for goods/services
http://www.coindesk.com/information/what-can-you-buy-with-bitcoins/
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WHY BITCOIN?
Decentralized Opensource Pseudonymous Electronic Currency…
Financial
Ideological
Innovative
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Why Bitcoin?
•No chargebacks •Lower transaction fees •New customers (international) •New customers (w/o credit cards)
•Privacy •Governmentally agnostic •Predictable growth
•Programmable money •Be your own bank •Easy international payments (even
small amounts)
Financial To help their bottom-line
Ideological To express their values and help to promote their ideal vision of the world.
Innovative To do things they can’t with normal money.
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CHICKEN AND EGG
1. Accessible 2. Easy to use 3. Useful
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TYPICAL FIRST TIME USER EXPERIENCE
1 Explain benefits of Bitcoin
2 Agree
3 Download a bitcoin wallet
4 Generate a bitcoin address
5 Send bitcoin address to friend
6 Receive the bitcoin address
7 Send bitcoins
8 Receive bitcoins.
Friend* Newbie*
*Friend and Newbie both need smartphones and internet
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37COINS USER EXPERIENCE
1 Explain benefits of Bitcoin**
2 Agree**
3 Send bitcoins to mobile number
4 Receive bitcoins.
Friend* Newbie*
*Friend and Newbie do NOT need smartphones or internet ** Optional. Just send it.
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MASS-MARKET
Hal Finney
Roger Ver
Patrick Byrne
Bitcoin Early Adopter
Bitcoin Curious
Bitcoin Protocol
BitcoinQT
Hosted Wallets
Bitcoin Addresses
SMS MessagingUser Archetype Prerequisite Knowledge
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SIMPLE
Confirm transaction w/ 37coins
Send payment Receive notification1 2 3
SMS received SMS sent Notifying server
Received 734BIT (20PHP) from
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25 Countries!32 Gateways
International!Incentivized
SMS NETWORK
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SOLUTION: BITCOIN VIA SMS
Safe, Fast, Easy!International
96% Worldwide Cellphone PenetrationInternational Telecommunication Union | Goldman Sachs http://www.itu.int/en/ITU-D/Statistics/Documents/facts/ICTFactsFigures2014-e.pdf
$43.4bPotential savings
From 9212276935
Received 1,430BIT (40PHP)
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LIQUIDITY
Receive cash via bank, ATM, pre-paid card
SELL bitcoins 1 2
SMS received SMS sent Notifying server
Sell 100PHP
Pre-paid Debit
ATM
Bank / mBank Deposit
(740) 214-1453
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DEVELOPMENT PLAN
India Indonesia Philippines Singapore Thailand
January 2014
Worldwide Open Beta
South East Asia South America
2015
Eastern Europe Middle East
Africa
2016
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WHAT’S NEXT
Developers Designers Partnerships
Thank You!
37coins
www.37coins.com
(740) 214-1453
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MULTI-SIG
Gateway Partners
37coins Risk Management
Lawyer (backup key)
or Oracle Service
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