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Chicago IL, September 24, 2015 Slides: http://slideshare.net/LaBlogga Melanie Swan Economic Theorist New School, New York NY melanie@BlockchainStudies .org Blockchain Payment Systems
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Chicago IL, September 24, 2015Slides: http://slideshare.net/LaBlogga
Melanie SwanEconomic Theorist
New School, New York [email protected]
BlockchainPayment Systems
September 24, 2015Blockchain Payment Systems
Overview
2
Blockchain Payment Systems:
Like email for money1
Like Skype for money2
(digital instantiation)
Like Apple Pay for governments(ubiquitous solution, like cash)
1 Blythe Masters; 2 Andreas Antonopoulos; http://www.amazon.com/Bitcoin-Blueprint-New-World-Currency/dp/1491920491
September 24, 2015Blockchain Payment Systems
Bitcoin-FinTech-Blockchain Growth
3https://angel.co/bitcoin, http://thefinanser.co.uk/fsclub/2015/02/the-fintech-scene-is-so-hot-its-boiling.htmlhttp://thenextweb.com/insider/2015/04/16/bitcoin-is-the-worlds-most-dangerous-idea/
Silicon Valley Bank: Global investment in FinTech is set to double from $10 billion in 2014 to $19.7 billion in
2015, and reach $46.1 billion by
2020
September 24, 2015Blockchain Payment Systems
DefinitionWhat is Blockchain Technology?
4http://www.amazon.com/Bitcoin-Blueprint-New-World-Currency/dp/1491920491
An information technology A software protocol; email (SMTP) runs on TCP/IP, Bitcoin
runs on underlying blockchain software Decentralized: each network node keeps the ledger (giant
‘Google doc spreadsheet’ of transactions); blocks (batches) of transactions posted sequentially to a ledger or chain
Implication: secure network where any transaction can be independently confirmed as unique and valid without an intermediary
September 24, 2015Blockchain Payment Systems
ApplicationsEvolution of Payment Modernization
5
Electronic Payments Mobile Payments Crypto-Payments
September 24, 2015Blockchain Payment Systems
Consumer PaymentsHow does Bitcoin work?
6
1. Download software wallet app Blockchain.info, Mycelium, etc.
2. Transfer Bitcoin via QR Code / public key address 3. See your transaction confirm, post to the blockchain
September 24, 2015Blockchain Payment Systems
Consumer PaymentsWhere can I use Bitcoin?
7http://bitcoinmaps.info/, http://coinmap.org/, https://airbitz.co/
September 24, 2015Blockchain Payment Systems
Enterprise PaymentsReduces Cost and Risk for Merchants Vendor payments market
Reduce 1-3% merchant transaction fee Remove hack-able ‘honey pot’ databases
8http://www.statista.com/chart/1681/daily-transaction-volume-of-payment-networks/
Online Merchants Accepting Bitcoin
Bitcoin Payments Vendors
QuickBooks Software Integration
September 24, 2015Blockchain Payment Systems
Institutional Payments Current Payment System
1. The central bank: national bank clearing and payments Banking clearing and settlement services, depository accounts Payment services: collect checks, electronically funds transfer,
received and distribute currency
2. The U.S. government's checking account Electronic check and payment processing Treasury operations: issue, transfer, exchange, and redemption
of U.S. government securities
9
September 24, 2015Blockchain Payment Systems
Institutional Payments Blockchain Payment System
1. The central bank: national bank clearing and payments Clearing, settlement, compliance, QA
2. The U.S. government's checking account Register instruments as smart assets
Spot (cryptocurrency) and future (smart contract) transactions
Blockchain payments system, features: Immediate recording improves liquidity and risk (T=0, not T+3) Secure, transparent, accessible, auditable ledger
10
September 24, 2015Blockchain Payment Systems
ApplicationsPayments as Access Banking services market
5 bn individuals worldwide and 1/3 U.S. with inadequate access to banking, financial, credit services
Remittances market $4 tn global market, 5-30% transaction
fee; immediate funds transfer solution Decentralized credit bureaus
Open-source FICO scores ‘Bitcoin MOOCs’
‘Kickstarter for literacy’ Smart Literacy Contracts
11http://www.forbes.com/sites/ashoka/2013/06/14/banking-the-unbanked-a-how-to/
September 24, 2015Blockchain Payment Systems
ResourcesHow to get Involved Podcasts/presentations
Andreas Antonopoulos, Let’s Talk Bitcoin Local meetup groups
Bitcoin, Ethereum, blockchain Executive Education
Blockchain University (http://blockchainu.co/) Blockchain for Business (http://www.bfor.biz)
Blockchain consultancy practices Big 4 and Strategy Consulting firms
12
Books Non-technical
overview of blockchain possibilities
September 24, 2015Blockchain Payment Systems
Overview
13
Blockchain Payment Systems:
Like email for money1
Like Skype for money2
(digital instantiation)
Like Apple Pay for governments(ubiquitous solution, like cash)
1 Blythe Masters; 2 Andreas Antonopoulos; http://www.amazon.com/Bitcoin-Blueprint-New-World-Currency/dp/1491920491
Chicago IL, September 24, 2015Slides: http://slideshare.net/LaBlogga
Melanie SwanEconomic Theorist
New School, New York [email protected]
BlockchainPayment Systems
Thank you! Questions?
September 24, 2015Blockchain Payment Systems
Gartner Emerging Technology Hype Cycle
15http://thenextweb.com/insider/2015/04/16/bitcoin-is-the-worlds-most-dangerous-idea/
Cryptocurrencies added July 2014
